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Point Loma Resources

NA Proactive news snapshot: Point Loma Resources, Lingo Media, EnWave, PyroGenesis Canada, Klondike Gold, BevCanna, Nordic Gold UPDATE ...

A glance at some of the day's highlights from the Proactive Investors US and Canada newswires

Point Loma Resources - NA Proactive news snapshot:
Your daily round-up from the world of Proactive

Heritage Cannabis Holdings Corp. (CNSX:CANN.CN) said it changed its auditors to MNP LLP from Morgan & Company LLP with effect from August 28, 2019 until the next Annual General Meeting of the company.  Clint Sharples, CEO of Heritage commented: "We would like to thank Morgan & Company LLP for the work they have done for us in the past several years, and we are pleased to announce that MNP LLP will be an important part of in the next stage of our growth."

Analysts at ROBO Global view Teladoc Health Inc (NYSE:TDOC) as the dominant player in the telemedicine market with a solid presence in 130 countries driving steady revenue. Purchase, New York-based Teladoc Health provides remote medical care through mobile devices, the internet, video and phone. Teladoc’s core telemedicine service is utilized by patients for illnesses, such as sinus infections, allergies, or urinary tract infections. With its flourishing virtual healthcare services platform, Teladoc is a member of the ROBO Global Healthcare Technology and Innovation ETF (NYSE:HTEC), which consists of 80 stocks across 9 subsectors in 15 countries

BioLargo Inc (OTCMKTS:BLGO) said that on Thursday this week, BioLargo Engineering president Randall Moore was selected to join a panel of esteemed experts and thought leaders to discuss water contamination and solutions at Sustain SoCal's Water Solutions 4 Conference at UC Irvine. At the conference leaders in water remediation and management of emerging contaminants met to discuss potential solutions to a hot topic in water treatment - "PFAS" contaminants. A video of Moore's presentation can be seen on the company's blogspot.

Lydian International Limited (TSE:LYD) (OTCMKTS:LYDIF) responded Friday in regards to a conference call hosted by the Government of Armenia on Thursday to discuss an environmental audit of its Amulsar gold mine project, expressing "deep disappointment". The firm noted that comments made by international consultancy group Earth Link & Advanced Resources Development (ELARD), which was tasked to review Lydian's environmental audit and related environmental impact assessments, were regrettable. DD May. 

Point Loma Resources Ltd (CVE:PLX), an Alberta-focused junior oiler, reported on a busy second quarter to end June, which saw its average daily production of crude rise to 238 barrels from 204 barrels in the same period a year earlier. Much activity in the quarter was directed at the Wizard lake field, where the initial WL 16-17 Rex well was placed on production, paid for by partner Salt Bush Energy, resulting in an increase in Point Loma's oil weighting to 34% in the quarter, versus 27% in the second quarter of 2018. 

Edtech group Lingo Media Corporation (CVE:LM) (OTCMKTS:LMDCF) said it is positioning itself for accelerated growth, as it posted second-quarter financial results. The company provides both online and print-based solutions or English language learning through two business units - ELL Technologies and Lingo Learning. Lingo Media's net profit for the three months ended June 30 came in at C$430,651, compared to C$477,208 in the same period in the year earlier on revenue of C$895,205 (2018: C$960,159).

EnWave Corporation (CVE:ENW) announced that it had signed a new royalty-bearing licence with a pharmaceutical-grade medicinal cannabis cultivator in Ontario.
The agreement with Glasshouse Botanics Inc sees EnWave licence its proprietary Radiant Energy Vacuum (REV) dehydration technology to Glasshouse in return for a royalty based on the weight of dried finished cannabis. EnWave’s dehydration technology is faster and cheaper than freeze drying, with better product quality than air drying or spray drying, according to the company.

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF), a plasma technology company, revealed that it has a current backlog of $10.5 million in signed contracts as it posted $913,769 in revenue for the second quarter. In a statement accompanying the Canadian high-tech company’s latest numbers, PyroGenesis CEO Peter Pascali said: “As we have said in the past, 2018 was the year in which the company successfully positioned itself with unique and strategic partnerships, geared to effectively accelerate commercialization. We are in the midst of benefiting from these efforts, and I would like to thank investors for their patience.” The firm has forged strategic relationships with the US Navy, a Japanese trading house and Aubert & Duval.

Fura Gems Inc (CVE:FURA) (OTCMKTS:FUGMF), a gemstone miner with ruby and emerald operations, announced Friday that it has again extended the deadline for its purchase of three ruby assets in Mozambique from New Energy Minerals Ltd, The company pushed back the so-called ‘drop dead’ date of the Merger of Ruby Assets Agreement from August 31 to September 30. The deal will see Fura purchase a 75% stake in Montepuez Minerals Pty Ltd  — which itself owns a majority interest in a ruby license and a ruby concession  — and an 80% stake in a mining concession under a joint venture agreement.

FSD Pharma Inc (CSE:HUGE) (OTCMKTS:FSDDF) has launched a private placement to raise up to US$5 million, the medical cannabis company announced Friday. The company will offer its class B subordinate voting shares at a price of C$0.10 per share without any warrant coverage. It expects to close the placement by September 30. To date, C$1.3 million in proceeds have been committed and received, FSD Pharma said in a statement. CEO Raza Bokhari has personally invested US$500,000 and the FSD Pharma leadership team, representing founders, directors and members of the senior management team, have collectively invested more than C$500,000.

Permex Petroleum Corporation (CSE:OIL) (OTCMKTS:OILCF) posted a third-quarter of strong growth, which saw its revenue increase by 242% compared to the same period a year earlier. The Vancouver-headquartered oiler, which is producing, has assets across the Permian Basin of west Texas and the Delaware Sub-Basin of New Mexico. The company reported revenue for the three months to end June of C$420,941, compared to C$122,911 in the same quarter of 2018, with its net loss narrowed by 82% to C$106,686 in the quarter versus a net loss of C$600,525 in the same period of 2018.

True Leaf Brands Inc (CSE:MJ) (OTCMKTS:TRLFF) revealed Thursday that it had a busy fiscal first quarter where it geared up to grow sales of the cannabis-for-pets company’s rebranded product lines, set to his shelves within the next month.
In a statement accompanying the Vernon, British Columbia-based company’s latest numbers, True Leaf founder CEO Darcy Bomford said: “During the first-quarter 2020, we completed a number of strategic initiatives, including transitioning to our re-branded True Leaf product line and filling two key executive roles in management and operations. These efforts supported our growing team and the launch of an expanded range of pet health products with a broader ‘plant-based’ focus.”

Braingrid Limited (CSE:BGRD) (OTCMKTS:BGRDF), a cultivation analytics provider, announced Friday that the European High Growth Opportunities Securitization Fund has converted C$160,000 of its C$530,000 remaining convertible debentures into 2 million shares of the company at an effective price of C$0.08 per share. Braingrid shares closed at $0.03 on Thursday. Braingrid has an obligation to the fund to pay $447,200 in either cash or stock.

Minera Alamos Inc (CVE:MAI) announced Friday that it has acquired a 16% stake in Prime Mining Corp after closing on the agreement to option its rights to the Guadalupe de Los Reyes project to Prime. In April, Toronto-based Minera Alamos announced the deal with Prime, which was then known as ePower Metals Inc, in exchange for a stake in the company. 

American Battery Metals Corporation (OTCMKTS:ABML) announced Friday that it is renewing all 1,300 of its claims with the Federal Bureau of Land Management, covering 26,000 acres in Railroad Valley, Nevada. The move, as expected, highlights the positive momentum for the company as it continues to grow both horizontally and vertically. “We’ll finish 2019 in a remarkably strong position, while laying the groundwork for an even more successful 2020,” ABM CEO Doug Cole said in a statement. “For our exploration and mining programs, we’re also pursuing additional claims in Railroad Valley, including the potential acquisition of distressed assets statewide."

Phunware Inc (NASDAQ:PHUN) said it will be attending the three-day GDS North America Digital Innovation Insight Summit in Naples, Florida starting on September 9. In a statement, Phunware founder CEO Alan S. Knitowski said: “We always look forward to meeting with executives across the Fortune 1000 in many different verticals and areas of focus so that we can better understand their challenges and how to best help them implement their key digital projects most effectively with our MaaS platform.” The Austin, Texas-based company provides a multiscreen-as-a-service (MaaS) enterprise cloud platform for mobile devices. The company’s platform has already helped Fortune 5000 brands engage, manage, and monetize their mobile application portfolios.

Mining investor Eric Sprott has rebalanced his holdings in Klondike Gold Corp (CVE:KG), a junior explorer in which he holds just over 10% ownership. Sprott now owns around 11 million shares and 3.1 million warrants, representing nearly 10.1% of Klondike’s outstanding shares on a non-diluted basis. On Friday, the veteran mining investor announced that 3 million warrants previously held had expired. Sprott told investors that he has a “long-term view” of the investment and may acquire additional securities either on the open market or through private acquisitions.

BevCanna Enterprises Inc (CSE:BEV) (OTCMKTS:BVNNF) announced a shares for debt transaction on Friday. The firm said it issued 455,107 shares at a price of C$0.69 cents each to one creditor of the company. The shares are subject to a hold period of four months and one day from the closing date. 

Nordic Gold Inc (CVE:NOR) said it has elected three directors at the company's annual and special meeting of shareholders, held Wednesday. Shareholders elected Brian Wesson, Clyde Wesson and Yvette Harrison, appointed accounting firm PricewaterhouseCoopers LLP as auditor of the company and approved the company's rolling stock option plan. They also gave the go-ahead to the proposed service agreement between the company, Lionsbridge Capital and Westech International. Lionsbridge will provide the company with corporate management services and Westech aims to provide the company with technical services to bring the firm's Laiva gold project in Finland back to production.

Quick facts: Point Loma Resources

Price: $0.14

Market: TSX-V
Market Cap: $10.52 m
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Point Loma to kick off production on its oil project with partner Salt Bush...

Point Loma Resources Ltd (CVE:PLX) CEO Terry Meek tells Proactive Investors the oil and gas company has announced that its partner on the Wizard Lake Rex oil project has agreed to a two-well farm-in transaction to fund drilling and setup costs. Meek says its partner, Salt Bush Energy Ltd,...

on 05/31/2019

9 min read