NA Proactive news snapshot: KinerjaPay, CB2 Insights, Orgenesis, Silvercorp Metals UPDATE …

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

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KinerjaPay Corp (OTCMKTS:KPAY) CEO Edwin Ng on Friday said he’s anticipating a “significant” infusion of capital. In a statement, the company said it is finalizing the receipt of an initial HSBC bank guarantee from Gabriel Capital Ltd. KinerjaPay expects the first guarantee over the next week after some delays. Gabriel has subscribed to $200 million worth of KPAY Preferred Stock, convertible to common stock at $1.80 per share, and when each tranche is drawn, the company will issue Gabriel a proportionate number of shares. “We feel that we are at the end of this very complex process and look forward to receiving the beginning of this significant capital infusion,” Ng said. “We are excited that other investors agree that securing a monetizing bank has made KPAY an attractive investment."

CB2 Insights Inc (CSE:CBII) (OTCMKTS:CBIIF) revealed Friday that it posted record third-quarter revenue of C$4.2 million, a 29% increase from the previous quarter.  CB2, based in Mississauga, Ontario, noted that its upbeat quarter was achieved due to the fact that during the first nine months of 2019, it made successful strategic acquisitions of Relaxed Clarity, MedEval Clinics LLC and New Jersey Alternative Medicine (now operating as Canna Care Docs New Jersey).

Orgenesis Inc (NASDAQ:ORGS), a developer of advanced cell therapies, posted record revenue in its fiscal third-quarter, driven by growth in the company’s global contract development and manufacturing organization, or CDMO business.  For the quarter ended September 30, the Germantown, Maryland-based company saw its revenue shoot up by 46% to $9.1 million.

Silvercorp Metals Inc (NSYEAMERICAN:SVM) (TSX:SVM) reported a 52% increase in net income for its second quarter and said it expected production to beat its guidance for the year as a whole.  In the three months to end September, the  China-focused miner produced and sold 1.9 million ounces of silver, 1,100 ounces of gold, 19.1 million pounds of lead, and 6.7 million pounds of zinc. Revenue came in at US$49.9 million, up 4% on the US$48 million seen last year. The net income attributable to shareholders was US$12.2 million, or US$0.07 per share, up 52% compared to US$8.0 million, or $0.05 per share in the prior year quarter.

Seelos Therapeutics Inc (NASDAQ:SEEL) updated investors Friday on the progress of its drug pipeline during the third quarter, which included Food and Drug Administration acceptance of its Investigational New Drug Application for its Sanfilippo syndrome treatment. The company received the green light from the FDA on August 22 for the drug, known as SLS-005 or trehalose, and plans to move ahead with clinical trials. Meanwhile, Seelos is initiating Phase 1 studies of SLS-002, the company’s intranasal ketamine depression drug aimed at patients with post-traumatic stress disorder (PTSD) and major depressive disorder (MDD) at risk of committing suicide.

Atlas Engineered Products Ltd (CVE:AEP) (OTCMKTS:APEUF) reported strong quarterly results on Friday in which the truss manufacturer swung to a profit during its third quarter. The Nanaimo, BC-based company posted an operating income of C$736,000 on revenue of C$10.5 million during its third quarter, compared to a loss of C$8,000 on C$5.1 million sales in the same period a year prior. Taking into account the nine-month year-to-date results, the company reported positive net income for the first time since going public in November 2017.

Metalla Royalty & Streaming Ltd (CVE:MTA) (OTCMKTS:MTAFF) on Friday hailed progress at two of its royalty assets, which are moving to production from development. The firm holds a 1.5% and 2% net smelter royalty, respectively, on Pan American Silver's (NASDAQ:PAAS) COSE and Joaquin mines in Argentina. At COSE, ore was hauled to the Manantial Espejo plant at the end of the third quarter this year, with a total milled to-date of 410 tonnes at 42.6 grammes per tonne (g/t) gold and 1,688 g/t silver. Meanwhile, development work resumed at Joaquin in the third quarter, and ore is being stockpiled on surface prior to transporting to the Manantial Espejo plant for processing, it added.

Berkwood Resources Ltd (CVE:BKR) announced a private placing to raise up to C$800,000 to be used for exploration in Quebec and for working capital. The firm said up to 16 million share units of the company will be offered at 2.5 Canadian cents each to raise gross proceeds of up to C$400,000. Meanwhile, up to over 13.3 million flow-through units will be offered at 3 cents each, for gross proceeds of up to C$400,000, it added.

Dundee Corporation (TSE:DC.A) announced Friday the disposition of 499,999 common shares of Cabral Gold Inc. (CVE:CBR) (OCTMKTS:GBGZF). Immediately prior to the disposition of securities, Dundee and its affiliates owned or controlled 7,394,999 shares and warrants to purchase up to 615,999 shares representing an approximate 11.99% interest in Cabral Gold on an undiluted basis and 12.86% on a partially diluted basis. Immediately following the transaction that triggered the announcement in a statement, Dundee now owns 6,895,000 shares and warrants to purchase up to 615,999 shares, representing an approximate 11.18% interest in Cabral Gold on an undiluted basis and 12.06% on a partially diluted basis. Dundee, an asset management company, said it disposed of the shares for investment purposes only and intends to review, on a continuous basis, various factors related to its investment in Vancouver-based Cabral Gold.

Mirasol Resources Ltd (CVE:1MRZ) (OTCMKTS:MRZLF) said Friday that it granted 1,410,000 stock options exercisable at C$0.52 per share for a four-year period. The options were granted under its equity incentive plan for certain members of Mirasol’s management team as long-term incentives and to “align interest with shareholders,” the resource company said in a statement. Mirasol’s board also approved a short-term incentive structure that may entitle certain management to receive bonuses in cash and restricted share units.

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