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NA Proactive news snapshot: NexTech AR, Orgenesis, Candelaria Mining, Exro Technologies, Seelos, Algernon Pharmaceuticals UPDATE ...

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

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NexTech AR Solutions Corp (CSE:NTAR) (OTCQB:NEXCF) shares could surge in value over the next year if analysts at Starwood Research are correct. The firm tagged NexTech with a $20 price target over the next 12-months, calling the augmented reality firm a “unicorn farm” with four shots on goal at multi-billion dollar markets, including its ARitize ad network, Capture AR, a concept it calls v-commerce and its pending acquisition of Jolokia. The stock currently trades around US$0.90 a share in New York and C$1.30 in Canada.

Orgenesis Inc (NASDAQ:ORGS) is teaming up with regenerative medicine and cell therapy firm RevaTis on a new joint venture to produce certain stem cells for therapeutic use, it said Wednesday. The two firms plan to leverage Orgenesis’s autologous Cell and Gene Therapy (CGT) Biotech Platform to develop novel therapies and advance clinical trials. Under the agreement, RevaTis and Orgenesis will use the former’s patented technique to obtain muscle-derived mesenchymal stem cells (mdMSC) as a source of exosomes and various other cellular products.

Candelaria Mining Corp (CVE:CAND) (OTCPINK:CDELF) said Wednesday that the TSX Venture Exchange accepted documentation related to its private placement to raise around C$1.1 million. The placement, announced in late February, is comprised of over 4.2 million units at a subscription price of C$0.25 each, for total gross proceeds of C$1,059,261. Candelaria also issued just over 2.1 million warrants exercisable at C$0.40 for a three-year period. The firm's flagship project is Caballo Blanco, which lies on the eastern coast of Mexico, 65 kilometres (km) northwest from the city of Veracruz. It also holds the Pinos underground gold development project in Zacatecas - the second biggest gold producing state in Mexico after Sonora.

Exro Technologies Inc (CSE:XRO) (OTCMKTS:EXROF) CEO Sue Ozdemir told shareholders she was optimistic about the clean energy group's future as she outlined the main activity of its current commercialization phase. In a letter to shareholders, the company boss, who's been in the role for six months, said she was committed to closing eight strategic partnerships by the end of this year — four are ongoing, while four are on the horizon, she said.

Seelos Therapeutics Inc (NASDAQ:SEEL) said Wednesday that it was on track with its SLS-002 intranasal ketamine depression drug, aimed at patients with major depressive disorder (MDD) at risk of committing suicide. While providing its first-quarter business update, the New York company which is focused on the central nervous system, neurological and psychiatric disorders, stressed the importance of mental health during the coronavirus (COVID-19) pandemic “As we work through this crisis, we are acutely aware of the issues that may grow and likely persist in the aftermath,” said Seelos in a statement.

Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) reported positive feedback from Health Canada on its planned Phase 2 study of its repurposed drug ifenprodil (NP-120) as a treatment for the coronavirus (COVID-19). The company believes that ifenprodil could reduce both the severity and the duration of the coronavirus infection. Based on the positive reception from Health Canada’s Office of Clinical Trials, Algernon has begun preparing a clinical trial application for a Phase 2 trial focused on severe coronavirus patients, which it expects to submit for approval within the next week.

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) said Wednesday that Erin Prohaska has stepped down as the company’s chief financial officer and that chief operating officer Dan Phaure will be its interim CFO. “We would like to thank Ms Prohaska for her considerable efforts and contributions to Heritage and we wish her every success for the future,” Heritage Cannabis CEO Clint Sharples said in a statement. The Toronto-based company said it will start an executive search for a new CFO immediately.

Niobay Metals Inc (CVE:NBY) has released drill assays from three holes from its program at the James Bay niobium project in northern Ontario, which showed significant high-grade intersections. The first hole's assays included 0.69% niobium pentoxide (Nb205) over 185 metres in one hole including 1.02% Nb2O5 over 61.8 metres. The second hole hit 0.66% Nb2O5 over 190 metres, including 0.97% Nb2O5 over 62.5 metres. Niobium is used in superalloys for jet engines and heat resistant equipment, among other products.

Medexus Pharmaceuticals Inc (CVE:MDP) (OTCQB:PDDPF) announced Wednesday that price negotiations for Triamcinolone Hexacetonide Injectable Suspension 20mg/mL (TH) in Canada are complete. The specialty pharmaceutical company said the public reimbursement — which should help Medexus expand sales and market access — is expected to roll out in the respective provinces over the coming months. Triamcinolone Hexacetonide is the longest acting corticosteroid for intra-articular injection, often lasting twice as long as competitive products, Medexus said.

The Valens Company (CVE:VLNS) (OTCQX:VLNCF), a manufacturer of cannabinoid-based products, said Wednesday that it will begin making hand sanitizer to help alleviate product supply shortages as a result of the coronavirus (COVID-19) health crisis. In a statement, the Kelowna-based company said it plans to start with an initial 1,300 litre-batch at its facility.  The group said it will bottle and donate 40,000 bottles of hand sanitizer in various formats to frontline health care workers across Canada.

Australis Capital Inc (CSE AUSA) (OTCPINK AUSAF) has completed the US$120,000 all-stock acquisition of Paytron LLC, a privately-held omnichannel payment services company. In a statement, Australis said it plans to integrate Paytron with another company in its portfolio, Cocoon Technology LLC, which manufactures consumer-facing kiosks as stand-alone units or multi-unit pods for consumers and a mobile application and tablet for employees of cannabis retail locations. Adding Paytron to the mix expands Cocoon’s payment acceptance, allowing it to capture additional revenue, it added

CytoDyn Inc (OTCQB:CYDY), the late-stage biotech, said partner Novant Health has started enrolling patients in the company's Phase 2 randomized clinical trial using leronlimab for coronavirus (COVID-19) patients with mild-to-moderate symptoms. Novant Health is the second trial site in the USA and the first site in the southeastern US to initiate this Phase 2 trial.

Mota Ventures Corp (CSE:MOTA) (OTCMKTS:PEMTF) told investors Wednesday that it has acquired a 20% interest in Folium Life Sciences Inc, which is developing a licensed indoor cannabis production facility on Vancouver Island. The acquisition with an arms-length party saw the firm buy all the share capital of 1244780 B.C. Ltd, whose sole asset is the 20% equity interest in Folium. In consideration, Mota Ventures, which aims to become a vertically integrated global CBD brand, issued 21 million of its own shares to the vendor.

Japan Gold Corp (CVE:JG) (OTCQB:JGLDF) has released another round of positive results from exploration at its Ohra-Takamine gold project defining several new anomalies on the property. Ohra-Takamine lies in the highly prospective southern Kyushu gold district and hosts five historic gold mines. Over 11 million ounces of gold has been produced from the region to date.

MGX Minerals Inc (CSE:XMG) (OTCPINK:MGXMF) has entered into an investor relations agreement with a digital marketing company. In a statement Wednesday, the Vancouver-based company said FXCT Media Inc will provide corporate, investor and partnership communication services for its Silicon Anode Lithium Ion Battery project.  The move to work with a marketing firm comes after MGX Minerals and its research partner, the University of British Columbia, recently announced the completion of a 1,000 discharge lifecycle test of its silicon anode in a next-generation lithium ion battery.

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) said Wednesday that Erin Prohaska has stepped down as the company’s chief financial officer and that chief operating officer Dan Phaure will be its interim CFO. “We would like to thank Ms Prohaska for her considerable efforts and contributions to Heritage and we wish her every success for the future,” Heritage Cannabis CEO Clint Sharples said in a statement. The Toronto-based company said it will start an executive search for a new CFO immediately.

Minera Alamos Inc (CVE:MAI) said the TSX Venture Exchange has accepted for filing documentation relating to a royalty purchase agreement and a royalty agreement, dated April 1, 2020, between it and Osisko Gold Royalties Ltd. under which the company shall sell to Osisko a 3% net smelter return (NSR) royalty on the Santana property, located in Sonora, Mexico, for a cash payment of $5 million. The company also has an option to draw down up to a further $3 million in three equal instalments of $1 million each at any time within 12 months of the closing. For each $1 million of the optional royalty, the company will grant to Osisko an additional NSR royalty of two-thirds of 1% up to an aggregate of 2% if the entire optional royalty is drawn.

Jay Taylor, in the March 18, 2020, edition of Gold, Energy & Tech Stocks, has refreshed his buy of Gatling Exploration Inc. (CVE:GTR), recently 26.5 cents. Taylor noted that Gatling owns the Larder gold project and the nearby Kir Vit project, both in the Cadillac-Larder Lake area of Ontario, while Kir Vit is a recent acquisition and Gatling has just finished its first drill program there. He pointed out that the program was a rousing success, with gold mineralization found in 13 out of 16 drill holes and two new gold trends discovered. As for the core Larder project, Taylor reiterated his prediction that it will become a "high-grade, near-surface, multimillion-ounce gold deposit of very considerable value."

Jay Taylor also refreshed his buy of Great Bear Resources Ltd. (CVE:GBR) in the March 18, 2020, edition of Gold, Energy & Tech Stocks, recently $4.87. Taylor noted that Great Bear owns the high-grade Dixie gold project in Ontario where drilling has outlined a mineralized system that is at least 11 kilometres in strike extent, and the company is now at the stage of hiring consultants for preliminary metallurgical testwork, with more advanced studies planned for 2021. "This stock looks to me like a gift that is likely to keep on giving," Taylor said. He pointed out that Great Bear is moving ahead with plans to create a spinout company that will hold a 2% royalty on Dixie's future production, and to distribute that spinout's shares to its own shareholders. Taylor said he has no intention of even considering removing the stock from his portfolio until the spinout is finished.

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