logo-loader

NA Proactive news snapshot: Nemaura Medical, Silvercorp Metals, Seelos Therapeutics, ElectraMeccanica Vehicles ...

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

Newspapers and coffee cup
Your daily round-up from the world of Proactive

Nemaura Medical Inc (NASDAQ:NMRD) revealed with second-quarter results on Monday that it was executing aggressively on its commercial strategy for SugarBEAT, the world’s first painless glucose monitor.  The Loughborough, UK-based medtech company revealed that, as of September 30, its combined cash balance was $1,771,115. 

Roth repeated a Buy on China operating miner Silvercorp Metals Inc (NSYEAMERICAN:SVM) (TSX:SVM) and upped its price target on the stock following second-quarter results, which were "better than expected" across the board.  The miner also has a strong balance sheet, which it could use to acquire an underfunded development stage asset, analyst Joe Reagor notes.

Roth Capital Partners reiterated its Buy rating with a $8 price target on Seelos Therapeutics Inc (NASDAQ:SEEL), saying results from a Phase 1 study of the company’s intranasal ketamine depression drug, SLS-002, expected next year “will be a significant stock-moving event.” The SLS-002 study, which is aimed at patients with post-traumatic stress disorder (PTSD) and major depressive disorder (MDD) at risk of committing suicide, is expected to be released in the first quarter of 2020. 

ElectraMeccanica Vehicles Corporation (NASDAQ:SOLO) CEO Paul Rivera said Friday that the company was is in the final stages of preparation to begin producing and delivering single-seat electric cars.  In a statement, accompanying the company’s latest numbers, Rivera said: “To this end, we are concluding final engineering validation and fine-tuning production at our strategic partner’s manufacturing facility in China. We expect to begin delivering our flagship, single-seat SOLO electric vehicle to our customers in 2020, while ramping production and delivery throughout the year.”

CUI Global Inc (NASDAQ:CUI) has sold off the majority of its power business to electrical connector manufacturer Bel Fuse Inc (NASDAQ:BELFA) in a $32 million dollar deal. The sale, which came out of the company’s Power & Electromechanical (P&EM) segment, notably does not include the company’s roughly 20% stake in Virtual Power Systems related to that company's Intelligent Control of Energy software platform. Last month, it announced the sale of its electromechanical business for $15 million, which also came out of the P&EM segment.

Ceylon Graphite Corp (CVE:CYL) (OTCMKTS:CYLYF) revealed Monday that its wholly-owned subsidiary Sarcon Development Pvt Ltd has been granted an environmental protection license for its K1 graphite mining project in Karasnagla, Sri Lanka from the country’s top environmental regulator. In a statement, the company said it was granted the key license from the Central Environmental Authority (CEA), which is Sri Lanka’s top environmental regulator, established by an act of parliament. 

Kincora Copper Ltd (CVE:KCC) is putting its project generation strategy to work, as it revealed it had struck an earn-in deal worth up to over US$6 million for the Badrakh copper gold project in the Southern Gobi, Mongolia.  The deal is with private firm Temuulen Orshih LLC and is to earn up to 80% in stages of the asset, which is a former high priority exploration project of Ivanhoe Mines.

Trutrace Technologies Inc (CVE:TTT) has worked out a deal to settle $30,000 in debt owed to a creditor in exchange for the issuance of 250,000 shares at a price of $0.12 per share. Half of the shares issued as part of this debt settlement will be subject to voluntary holding periods. Under this arrangement's terms, 41,666 shares will be released from escrow on November 15 and 41,667 shares on November 22. Lastly, 41,667 shares will be released on November 29. Trutrace’s flagship product is StrainSecure, the first integrated blockchain platform to register and track intellectual property in the cannabis industry. This technology allows cannabis growers and breeders to identify and secure rights to their intellectual property while paring back the costs of quality-control testing for legal cannabis

Lithoquest Diamonds Inc (CVE:LDI) plans to amend the terms of over 11.8 million outstanding share purchase warrants, it said Monday, and also revealed in the same statement that Gerald Prosalendis had resigned as director. All the warrants were issued as part of the company's "reverse takeover" which completed November 23, 2017 and are set to expire on November 23 this year. Of them, 2.35 million are currently exercisable at C$0.30 per common share and  around 9.48 million are exercisable at C$0.40 per common share. The firm now plans that the warrants will be extended to November 23, 2021 and the exercise price will be reduced to C$0.15 per common share. In addition, the warrants will be revised to include an acceleration clause such that the term of the warrants will be reduced to 30 days if the closing price of shares exceeds C$0.15 by 25% or more for ten consecutive trading dates. The proposed amendments are subject to approval of the TSX venture exchange and warrant holders.

Great Panther Mining Ltd (NYSEAMERICAN:GPL) (TSE:GPR) announced the death of a contractor worker at its San Ignacio underground mine in Mexico - part of the  Guanajuato mine complex. It occurred on the afternoon of November 8 due to an isolated rock fall and an investigation has been "initiated to determine the cause, the firm said. "We are deeply saddened by the loss of one of our colleagues and our thoughts and prayers are with his family and friends," said Jeffrey Mason, interim president and CEO. "We will commit all available resources to determine the cause of this accident so that we can work to prevent such a tragedy from occurring again. Any necessary steps to prevent the recurrence of such accidents will be taken immediately."

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of ElectraMeccanica named herein, including the promotion by the Company of ElectraMeccanica in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Fidelity Minerals sees exciting road ahead for company with...

Fidelity Minerals (CVE: FMN) CEO Ian Graham joined Steve Darling from Proactive Vancouver on Skype to provide a corporate update. Graham discussed the latest on the recent sale of their Cerro Dorado asset and why they decided to do a share consolidation. Graham also discusses the shift in...

14 hours, 22 minutes ago

5 min read