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NA Proactive news snapshot: 1933 Industries, Group Eleven Resources, Nextleaf Solutions, Gatling Exploration UPDATE …

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

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1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) provided a corporate update on Tuesday, highlighting its expanding cannabis cultivation capacity in Nevada and California. The first harvest from the company’s recently completed 67,750-square-foot cultivation facility in Las Vegas is expected in December, the company said in a statement, with subsequent harvests expected every two weeks.

Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) announced Tuesday that global miner Glencore (LON:GLEN) is backing the exploration company to the tune of C$1 million. The agreement sees Glencore Canada purchase 8.4 million units of Group Eleven priced at C$0.12 each for a total consideration of just over C$1 million, an equity ownership of 11.6%

Nextleaf Solutions Ltd (CSE:OILS) (OTMKTS:OILFF) announced Tuesday that it has entered into a consolidation agreement with its commercialization partner, Nextleaf Labs Ltd. Through Nextleaf Lab’s existing intellectual property and infrastructure, Nextleaf Solutions said in a statement, it will be able to extract, refine, purify, and formulate cannabinoids such as THC and CBD -- the precursor ingredients for a variety of infused cannabis products becoming legal in Canada as of October 17.

Canadian explorer Gatling Exploration Inc (CVE:GTR) (OTCMKTS:GATGF) announced on Tuesday that recent drilling on its Larder gold project has connected two of its three deposits on the property. The two deposits lie along a 4.5-kilometre trend on the Ontario gold project. Vancouver-based Gatling told investors that drilling on the property intercepted 1.5 grams per ton (g/t) gold over 36.8 metres, including 2 g/t gold over 14.8 metres.

Progressive Plant Solutions Inc. (CVE:PLAN) revealed it has filed a United States Provisional Patent Application for "pelleted fertilizer product incorporating biomass as a binder". In a statement, PLAN said it was aware that the amount of biomass generated as a waste product when hemp and cannabis are grown to produce cannabinoids is increasing rapidly in North America. It believes this biomass would be an excellent candidate as a binder for various minerals that are used as fertilizers and soil amenders. The group said it has produced pellets using waste cannabis biomass to bind various minerals and these pellets possessed good durability.

Lydian International Ltd (TSE:LYD) shares jumped higher Tuesday after the gold mine developer revealed it has struck a fourth amended and restated forbearance agreement with its creditors. The agreement is required due to the reported illegal blockades which have prevented the firm and its contractors from entering its Amulsar project site in Armenia.

Exactus Inc. (OTCMKTS:EXDI) has acquired the luxury cosmetic brand LeVor Collection, a health, wellness and beauty company located in South Florida, which offers luxury cannabinoid-infused cosmetic products In a statement, the farmer and manufacturer of hemp-derived phytocannabinoid products said the acquisition expands its brand portfolio and provides the company with a distribution channel into the rapidly growing cosmetic market.

Arcadia Biosciences Inc (NASDAQ:RKDA) has tripled its hemp cultivation footprint to 30 acres in Hawaii through its joint venture with Legacy Ventures Hawaii. The new acreage comes by way of partnerships with two new license holders, the company said in a statement on Tuesday. The two companies, operating together as Archipelago Ventures, are seeding the land this month and plan to hire crop management and harvesting staff.

LiteLink Technologies Inc. (CSE:LLT) (OTCMKTS:LLNKF) has launched PerfectRoute, a delivery route planning and fleet optimization solution for all types of vehicles designed for last-mile delivery, powered by the 1SHIFT Logistics platform. In a statement, the firm - a key player in logistics and payment solutions, pointed out that the global route optimization software market is expected to reach US$5.07 billion by 2023, compounded by increasing pressure to lower the costs of transportation and logistics.

Heritage Cannabis Holdings Corp (CSE:CANN) is teaming up with Calgary-based Sugarbud Craft Growers Corp (CVE:SUGR) on a new supply deal that will see the two companies collaborate to develop pre-filled vape cartridges. Toronto-based Heritage will provide Sugarbud with extraction, formulation and production services to Sugarbud in exchange for a minimum of 100,000 grams of dried cannabis per month for a 24-month period beginning May 1, 2020.

American Battery Metals Corporation (OTCMKTS:ABML) reported drilling results from its Railroad Valley TW-1 project in Nevada on Tuesday which show lithium values well above the threshold of commercial viability.  Composite drill cuttings revealed lithium values of up to 148.5 parts per million within the Volcanic and Middle Sandstone areas, and another interval showed values as high as 276 parts per million. As a baseline, the company said in a statement, 50 parts per million is considered commercially viable.

TIMIA Capital Corporation (CVE:TCA) (OTCMKTS:TIMCF) announced Tuesday that it has entered into a US$3 million investment facility for a Connecticut-based software company. The financing facility includes an initial disbursement of US$1.4 million, which has been advanced, and a further US$1.6 million to be disbursed upon certain milestones being met over the term of the agreement, according to a statement.

RNC Minerals (TSE:RNX) told investors on Tuesday that it is aiming to produce up to 49,000 ounces of gold during the second half of 2019 from its flagship Beta Hunt operation in Western Australia. The Toronto-based company set production targets of between 42,000 ounces and 49,000 ounces at an all-in sustaining cost of between US$1,150 to $1,250 per ounce.

Humanigen, Inc. (OTCMKTS:HGEN) has revealed that it is contemplating raising funds by conducting a broadly syndicated rights offering involving issuing a dividend of rights and over-subscription rights to purchase shares of its capital stock. The clinical-stage biopharmaceutical company said a broadly syndicated rights offering would be a democratization of the public offering process allowing all stockholders of record to participate in the process.

Neo Lithium Corp (CVE:NLC) (OTCMKTS:NTTHF) has been granted 349 hectares of land by the municipality of Fiambalá, Argentina as part of a new lithium industrial park in the area. The move, approved unanimously by the city council, will provide a chunk of the 610-hectare park to Neo Lithium’s Argentinian subsidiary Liex SA for the construction of a lithium carbonate plant.

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) announced Tuesday its wholly-owned subsidiary CannMart Inc has received approval from Health Canada to sell cannabis oil concentrates on its online marketplace, CannMart. The agency approved an amendment to CannMart's cannabis sales license, a move that CEO Meni Morim called “pivotal” and sets the groundwork for “our presence in the edibles, extracts and topicals markets, pending their legalization and regulation anticipated to occur this week.”

Seelos Therapeutics Inc (NASDAQ:SEEL) announced Tuesday that long-time industry veteran Scott Applebaum has joined its team as a lead strategic regulatory consultant. Applebaum has more than two decades of experience working with public and private companies handling regulatory matters with the US Food and Drug Administration and international regulatory agencies, global drug launches, company-wide corporate and legal affairs and merger and acquisition activities, the biopharmaceutical company said in a statement.

Great Panther Mining Limited (NYSEAMERICAN:GPL) (CVE:GPR) still expects to deliver fourth-quarter production growth relative to the third quarter of 2019 although it has had to lower its production guidance for the Tucano Gold Mine in Brazil. In a statement, the company noted that, as previously reported, a geotechnical issue was discovered on Sunday, October 6 in the west wall of the Urucum Central South pit (UCS) at Tucano, one of the five pits scheduled for production in the fourth quarter and into next year.

Phunware, Inc. (NASDAQ:PHUN) has announced that it will be attending the GDS North American Digital Innovation Insight Summit at The Scottsdale Resort at McCormick Ranch, Scottsdale, Arizona, from October 28-30. “This will be the second GDS event we have attended this year, including the third event overall, and we are thrilled to be a core knowledge exchange participant,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “Our expertise in helping customers succeed on mobile through our Multiscreen-as-a-Service enterprise cloud platform for mobile matches perfectly with the GDS event theme of reaching customers truly anywhere.”

Thunderbird Entertainment Group Inc. (CVE:TBRD) said it will hold a conference call and webcast to share the company's 2019 fourth quarter and year-end financial results on Tuesday, October 22, 2019 at 6 a.m. PST/9 a.m. EST. It pointed out that Thunderbird's chief executive officer Jennifer Twiner McCarron, together with the chair of the board, Brian Paes-Braga will provide a corporate update and strategic overview, while chief financial officer Barb Harwood will present the financial statements. The conference call dial-in numbers will be (+1) 416 764 8609 (Toronto), (+1) 778 383 7417 (Vancouver), and (+1) 888 390 0605 (North American Toll-Free Number), with a conference ID number of 52347421.

Neo Lithium Corp (CVE:NLC) (OTCMKTS:NTTHF) has been granted 349 hectares of land by the municipality of Fiambalá, Argentina as part of a new lithium industrial park in the area. The move, approved unanimously by the city council, will provide a chunk of the 610-hectare park to Neo Lithium’s Argentinian subsidiary Liex SA for the construction of a lithium carbonate plant. Both parties expect other lithium and related industry participants to establish a presence in the Fiambalá Industrial Park.

Canaccord Genuity on Tuesday initiated coverage of Medexus Pharmaceuticals Inc (CVE:MDP) (OTCMKTS:PDDPF) with a Buy rating and a C$6.50 price target. Medexus’ stock trades around C$4.12 a share in Toronto. The Canadian equity research firm noted that Medexus, which consolidated with Pediapharm Inc and Medac Pharma USA last year, has 18 products and 48 sales representatives and produces more than C$50 million in trailing revenue.

Nordic Gold Inc (CVE:NOR) (OTCMKTS:FIEIF) has released a technical report regarding its Laiva Project in Raahe, Finland, an important step in bringing the gold mine back into production. The new technical report revealed a total resource of nearly 7.6 million tons at 1.6 grams per ton gold, good for around 379,500 ounces in the measured and indicated categories. Including the inferred category, the report suggested a gold resource of 32.3 million tons grading at 1.53 grams per ton, which would result in 1.59 million gold ounces.

Nextleaf Solutions Ltd (CSE:OILS) (OTCMKTS:OILFF), Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE), Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF), Valens GroWorks Corp (CVE:VGW) (OTCMKTS:VGWCF) will present at the 5th Benzinga Cannabis Capital Conference in Chicago on October 22-23. The audience of public and private companies as well as institutional, family office and accredited investors will be looking for opportunities in a crowded and volatile market.

MjLink.com Inc, a subsidiary of Social Life Network Inc (OTCMKTS:WDLF) has announced that Sherri Haskell, CEO of the angel investment firm Canna Angels LLC, will moderate a panel at its upcoming MjMicro Conference on October 16. The panel, called “Angel-to-Venture Capital Investing,” will feature representatives from WOW Organics, Sunderstorm, tCheck, BayMedica, and Mountjoy Beverages. The MjMicro Conference will be held at the Sofitel Hotel in Beverly Hills.

Silvercorp Metals Inc (TSE:SVM) (NSYEAMERICAN:SVM) on Tuesday released results of its exploration programs at the LMW mine in China. Exploration drilling is ongoing at the LMW mine and all other mines at the Ying Mining District in Henan Province, the company said in a statement. From April 1, 2018 to June 30, Silvercorp said it continued its extensive exploration programs and completed 21,272 metres of underground diamond drilling and 3,274m of exploration tunneling at the LMW mine. 

MGX Renewables Inc (CSE:MGXR) announced Tuesday it has arranged to deploy its zinc-air energy storage system at an innovative, low-energy-footprint estate in Surrey, British Columbia. The residence known as “75 house" presently under construction on the estate includes many features that make it architecturally unique and that lead to very low energy consumption, the company said in a statement. The concrete structure of the building not only provides exceptional thermal insulation but also enables the surrounding landscape to be sculptured around and even over parts of the building. Designed by renowned architect Omer Arbel, the residence makes use of a technique of pouring concrete into fabric formwork deployed within minimal plywood rib structures, yielding walls and columnar roof forms. 

Valens Groworks Corp (CVE:VGW) (OTCMKTS:VGWCF) earned net income of $5.9 million in its fiscal third quarter of 2019, the company announced after the close of markets Tuesday. Revenue also increased to $16.5 million, an 87% increase over the second quarter and a 641% increase over the first quarter of 2019, Valens Groworks said in a statement. The net income of $5.9 million (or $0.05 per share basic and diluted) marked a big turnaround for the company from when it suffered a net loss of $10.5 million (or a loss of $0.10 per share basic and diluted) in the second quarter of 2019.

 

 

 

 

 

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