NA Proactive news snapshot: CUI Global, Carube Copper, CleanSpark, eWellness Healthcare UPDATE …

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

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CUI Global Inc (NASDAQ:CUI) announced Tuesday it has completed the sale of the majority of its power business to electrical connector manufacturer Bel Fuse Inc (NASDAQ:BELFB) for $32 million in cash. CUI expects to utilize the proceeds from the sale to implement its strategy to build an infrastructure services company and for general corporate purposes, according to a statement. Bel Fuse, based in New Jersey, designs and manufactures products that power and protect electrical circuits in telecommunications, transportation and other industries. "With this sale and our previously announced divestiture of our Electromechanical components business, CUI Global has largely exited its former Power & Electromechanical segment businesses. These asset sales were a critical part of our transformation and served to strengthen our balance sheet as we move forward in executing on our energy-centric growth strategy," said CEO Jim O'Neil.

Carube Copper Corp (CVE:CUC) announced its intention Tuesday to undertake a private placement worth $2.5 million. The copper and gold explorer plans to offer up to 50 million shares at a price of $0.05 per share, pending approval from the TSX Venture Exchange. Carube noted that some insiders, such as directors, will be subscribing for a portion of the offering. Additionally, the offering will include the issuance of finders warrants equal to 6% of the total shares offered. All the securities issued as part of the offering will be subject to a four-month-and-one-day hold process.

CleanSpark Inc (OTCMKTS:CLSK) has unveiled another iteration of software for its Microgrid Value Stream Optimizer modeling program. Thanks to the software upgrade, the Utah company’s Microgrid Value Stream Optimizer (mVSO) will keep better tabs on vendors and the performance and cost of their products. “This release will allow customers to compare multiple vendors costs and performance under project specific parameters enhancing their ability to make sound decisions based upon accurately modeled system performance and costs to determine savings that may be derived from the final system,” said Zach Bradford, CleanSpark’s CEO and president, in a statement.

eWellness Healthcare Corporation (OTCMKTS:EWLL) announced Tuesday that patients using its PHIZIO and MSK360 telemedicine platforms are experiencing an average reduction in pain of 50% within four sessions. According to internal data, a sample of 10 patients treating knee, neck, shoulder and other pain issues exclusively with PHIZIO reported an average of 2.25 on a pain scale, down from 4.5 at the beginning of treatment. For patients dealing with pain from mild to moderate injury, PHIZIO provides quicker access to physical therapy that people can undergo in their own homes.

One World Lithium Inc (CSE:OWLI) (OTCMKTS:OWRDF) updated investors on its current four hole drilling program for a planned 2,400 meters or 7,900 feet at the Salar del Diablo lithium brine project in the State of Baja California, Mexico. The Vancouver-based company said that the drill hole DDH-1 reached its target depth of 650 meters. A second hole located 11 kilometers to the southeast of the first one has reached 590 meters, on its way to a target depth of 650 meters. The company is expecting to drill a third hole by mid-December, it said in a release.

Security Devices International Inc (OTCMKTS:SDEV) (CSE:SDZ) posted fiscal fourth-quarter results that saw sales leap, driven by strong demand for the company’s non-lethal Byrna personal security device. For the fiscal fourth quarter ended November 30, the Wakefield, Massachusetts, company said preliminary sales soared 77% to $543,295, compared to $306,287 in the third quarter. The company chalked-up the sales bump to higher production linked to demand for the Byrna HD. In the fourth quarter, production jumped 79% to exceed 3,000 units, over 1,675 units manufactured in the third quarter. The small, lightweight .68 caliber hand-held Byrna equipped with a five-round magazine is capable of accurately hitting a target at up to 60 feet — without causing serious injury.

VolitionRx Limited (NYSEAMERICAN:VNRX) said Tuesday that results from its latest proof of concept study show that a single pre-clinical Nu.Q cancer-test assay boasts an impressive ability to detect with accuracy non-Hodgkins lymphoma (NHL) and other types of leukemia. Using a microtiter plate platform, one pre-clinical Nu.Q. assay – VolitionRx’s flagship cancer detection test – detected 80% of newly-diagnosed non-Hodgkins lymphoma and a mix of leukemia cases (including acute lymphocytic leukemia and acute myeloid leukemia) at 95%. The area under the curve (AUC) for this single assay was 91%, the company said. “This is a very exciting outcome as we continue the development of our assays beyond colorectal, lung and prostate cancer,” said Dr. Jake Micallef, chief scientific officer with VolitionRx. “We have previously announced results from both single assay and panels of Nu.Q biomarkers but the results of this discovery study are the best single Nu.Q. assay result in any cancer we have demonstrated to date.”

Nordic Gold Inc (CVE:NOR) has reached a milestone, saying drilling has started at its gold mine project in Finland. The work is being carried out as per the plan reported in October, which includes drilling of between 10,000 and 15,000 meters across 146 holes and is a crucial step in bringing the Otso mine (formerly known as the Laiva gold mine) back into production. It has earmarked a July 2020 restart of operations.

CytoDyn Inc (OTCMKTS:CYDY) announced Tuesday additional early Phase 1b/2 clinical trial results of its lead drug leronlimab in patients with CCR5 metastatic triple-negative breast cancer. In a statement, the company said data from the first patient enrolled show no detectable circulating tumor cells (CTC) in the peripheral blood and additional reductions in CCR5 expression on cancer-associated cells at eight weeks. A second patient with metastatic breast cancer has been enrolled in the trial under an emergency use investigational new drug (IND) process, CytoDyn said.

Endeavour Mining Corp (TSE:EDV) (OTCMKTS:EDVMF) has lodged a bid for an all-share merger with UK-listed Egyptian gold miner Centamin PLC (LON:CEY). In a statement on Tuesday, the Canadian group said that the combination with the FTSE 250-listed firm would “strongly benefit both sets of shareholders due to the compelling long-term value creation opportunity”.

NexTech AR Solutions Corp (CSE:NTAR) (OTCMKTS:NEXCF) announced Tuesday that November saw record revenue for the company, fuelled by sales in its augmented reality e-commerce division. NexTech raked in roughly $700,000 last month, nearly triple its November 2018 total of $241,000. Gross profit also surged, coming in 241% higher at $300,000 compared to $88,000 a year earlier.

EuroLife Brands Inc (CSE:EURO) (OTCMKTS:EURPF) revealed it is mulling a plan to split away its data analytics business from its re-focused European hemp and CBD operation to enhance shareholder value. The analytics assets would go into a special purpose entity, named BioScience NewCo, that would be operated as a stand-alone and could ultimately be spun out to shareholders, the company said. BioScience NewCo would be led by current EuroLife CEO, Shawn Moniz, and would bridge the gap between Cannabis Education, Patient R&D (research and development), and Pharmaceutical R&D partner opportunities within Europe.

Biocept Inc (NASDAQ:BIOC) has delivered a dose of good news by announcing that clinical data which supports the use of its CTC liquid biopsy testing platform as an instrument to help in the monitoring and treatment of breast cancer will be presented at this year’s San Antonio Breast Cancer Symposium. The conference is being held from December 10th through the 14th at the Henry B. Gonzalez convention center in Austin, Texas.

CB2 Insights Inc (CSE:CBII) (OTCQB:CBIIF) revealed Tuesday that it is partnering with licensed producer FCM Global S.A.S, the first Colombian cannabis company to be fully licensed in cultivation, manufacturing and export of low-THC cannabis extracts, to support medical cannabis research and clinical trials. In a statement, the Toronto-based company said the partnership will work to create market access and design clinical trials to support the deployment of future FCM cannabinoid-based products. 

BioCorRx Inc (OTCMKTS:BICX) updated investors Tuesday on the development of its drug candidate VDM-001, highlighting early data that suggests it may prevent overdose from fentanyl. The drug, developed through a partnership between its subsidiary BioCorRx Pharmaceuticals and VDM Biochemicals Inc, could represent an alternative to naloxone in the overdose reversal market, the company said. The early preclinical data showed that the effects of fentanyl may be completely prevented by VDM-001, the company said. The drug was well tolerated and showed no signs of toxicity.

Newrange Gold Corp (CVE:NRG) (OTCMKTS:NRGOF) said it had now closed the sale of its Yarumalito gold project, paving the way to disposing of all its Colombian assets.  As reported on November 4 this year, the firm struck a deal with GoldMining Inc (CVE:GOLD) to sell its 100% interest in the property in central Colombia. The total consideration paid by GoldMining was C$1.2 million in shares and C$200,000 in cash.

Crop Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) announced Tuesday that it had appointed Arif Merali to its board of directors.  Merali is a self-employed investor who previously worked with Canaccord Capital Corporation, Petrostar Petroleum Corp and Detonia Resources Ltd. Merali’s appointment comes following the resignation of Twila Jensen from the cannabis company’s board. In a statement, Crop’s board thanked Jensen for her service and wished her the best in her future endeavours.

Mota Ventures Corp (CSE:MOTA), formerly Primary Energy Metals Inc (CSE:PRIM) (OTCMKTS:PEMTD), announced Tuesday that it has completed the acquisition of Columbian cannabis producer NNZ Consulting Corp.  NNZ is a privately-held company that, through its subsidiary, Ihuana SAS, is licensed to cultivate non-psychoactive cannabis in Colombia for seed production, manufacturing of derivative products such as cannabidiol (CBD) and for industrial purposes.

Lithoquest Diamonds Inc (CVE:LDI), the exploration group, reported that an earlier agreement to acquire more licenses in Western Australia had been terminated.  At the tail end of last month, the firm said it had struck a deal to buy six new licenses in the North Kimberley region - contiguous to its 100%-owned North Kimberley diamond project.

Ascent Industries Corp (CSE:ASNT) (OTCMKTS:PGTMF) said Tuesday that the company received an order in November from the Supreme Court of British Columbia accepting the filing of a consolidated plan of compromise and reorganization under the Companies Creditors Arrangement Act (CCAA). It authorizes the company to establish one class of affected creditors and call a meeting of affected creditors to consider and vote on a resolution to approve the plan. It also extends the stay of proceedings provided by the initial order of the court dated March 1 until January 29, 2020.

OTC Markets Group Inc (OTCMKTS:OTCM) announced Tuesday that shares of energy services company Basic Energy Services Inc (OTCMKTS:BASX) will start trading on the OTCQX Best Market today. The Texas-based energy group will trade under the symbol ‘BASX.’ "We are pleased to provide Basic Energy Services Inc with an efficient path to access US investors on our OTCQX Market," said Jason Paltrowitz, executive vice president of corporate services at OTC Markets Group. "OTCQX provides companies with a transparent, cost-effective alternative to a national exchange listing. We look forward to supporting Basic Energy and its shareholders."

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