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NA Proactive news snapshot: Milestone Scientific, Orgenesis, TRACON Pharmaceuticals, Codebase Ventures, Arcadia Biosciences UPDATE ...

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

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Milestone Scientific Inc (NYSEAMERICAN:MLSS) announced Wednesday that a study validating the efficacy of its CompuFlo CathCheck System was published in the Open Journal of Anesthesiology. The company’s system is a computer-controlled, real-time pressure-sensing technology designed to reduce failure rates and accidental punctures from epidural catheters. The study is the first to investigate the capability of the CompuFlo CathCheck System to detect the pulsatile waveform, which confirms the correct placement of an epidural catheter.

Orgenesis Inc (NASDAQ:ORGS) has launched its new cell-based vaccine platform targeting SARS-CoV-2, the virus that causes COVID-19, as well as other viral diseases such as Zika, West Nile Virus, Yellow Fever, Dengue Fever, MERS, HCV and Cytomegalovirus infection (CMV). In a statement Wednesday, the Maryland-based company said it has been working aggressively the last few months to repurpose its cell-based vaccine platform targeting solid tumors for use against viral diseases. The cell-based vaccine platform utilizes irradiated permissive cells (human or non-human, infected with a high titer virus or transfected with viral antigens), which then activate endogenous dendritic cells.

TRACON Pharmaceuticals Inc (NASDAQ:TCON) CEO Charles Theur said Wednesday that the company believes it can get its flagship drug envafolimab to market as quickly as possible. The CEO’s comments came as the San Diego-based company reported its first quarter 2020 financial results that saw the company end the three-month period with $14.1 million in cash. TRACON said it anticipates receiving orphan drug designation from the US Food and Drug Administration (FDA) for envafolimab in soft tissue sarcoma in the second half of 2020.

Codebase Ventures Inc (CSE:CODE) (OTC:BKLLF) announced Wednesday that its investee Trad3r has launched a reimagined mobile game app and social media platform designed for users to trade thousands of different celebrities, sports teams, stocks and friends. The app debuted on the Apple App Store on May 12. The new Trad3r product incorporates free music streaming as well as new Scribbles and Video Stories features. Back in February, Codebase invested C$105,000 in Trad3r parent company Aerosax Research and Technology Ltd.

Biocept Inc (NASDAQ: BIOC) saw revenue jump by double-digits in the first three months of 2020 as it closed its first quarter with cash and cash equivalents of $21.5 million. In a statement Wednesday, the San Diego-based company that develops liquid biopsy tests for commercial use clocked $1.4 million in revenue, nearly all of it from testing revenue. That’s a 41% year-over-year increase. CEO Michael Nall said the company expects that when it is safe for patients diagnosed with cancer to continue to seek treatment, its commercial volume will return to a more normal level.

Arcadia Biosciences Inc (NASDAQ:RKDA) reported first-quarter results after the bell Wednesday that showed the food ingredient company swung to a profit on the back of increased sales and the recognition of GoodWheat royalties. The company posted revenue of $309,000 in the three months ended March 31, nearly double the $158,000 it brought in during the same period a year earlier. Net income jumped from a $12.6 million loss to a $2.5 million profit, worth $0.29 per share.

Surge Holdings Inc (OTCQB:SURG) announced Wednesday that 2019 revenue increased by 69% as it expects even faster growth in 2020. “While the 69% increase in sales for 2019 is clear confirmation of our accomplishments, our true progress was marked by the dramatic transformation of the business, as we laid the foundation for accelerated growth in 2020,” said CEO Brian Cox in a statement. In its fourth quarter, which ended December 31, he said Surge Holdings generated $13.4 million in sales, “which puts us at a revenue run rate of more than $50 million at year-end” 2020.

Duos Technologies Group Inc (NASDAQ:DUOT) announced Wednesday that its operating subsidiary Duos Technologies Inc has won a major contract to provide control solutions for the Monroe County Sheriff's Office in Florida. In a statement, the company said the contract was awarded through Biltmore Construction to provide Duos' Intelligent Correctional Automation System - or icas, for short. The icas system provides all digital video, intercom, detention door control and access control and is integrated and interconnected to Duos singular command and control platform, centraco. The project is valued at about $945,000. 

Capstone Turbine Corporation (NASDAQ:CPST) said its exclusive distributor for non-oil and gas markets in New York, RSP Systems has signed a new Factory Protection Plan (FPP) long-term service contract renewal for 1.17 megawatts (MW) of Capstone microturbines installed at a data center in Connecticut. The firm, which specializes in the clean technology manufacturer of microturbine energy systems, said the FPP enables customers to have predictable and stable maintenance costs for up to twenty years and protect them from future cost increases associated with changes in replacement spare parts pricing, commodity price increases, import tariffs, and interest rate changes. 

XPhyto Therapeutics Corp (CSE:XPHY) (OTCPINK:XPHYF) revealed Wednesday that it has inked a letter of intent for developing, producing and distributing new cannabis-infused beverages and products with the well-known German brewery Oettinger Brauerei GmbH. The companies have agreed to sign a definitive agreement in due course for creating new cannabis-related beverages and products, XPhyto said. Oettinger's headquarters are in Oettingen, Bayern but it has large breweries in Gotha, Mönchengladbach and Braunschweig. The dominant brewer has been Germany's best-selling beer brand for a number of years.

Endeavour Mining Corporation (TSE:EDV) (OTCMKTS:EDVMF), the West Africa-focused gold miner, has started 2020 with gusto, reporting increased production and record operating cash flow in its first quarter to the end of March. The group operates the Agbaou and Ity mines in Côte d’Ivoire and the Houndé and Karma mines in Burkina Faso and told investors Wednesday that output and costs from all its mines were tracking in line with its full-year guidance. It also said its activities had not been significantly impacted by the coronavirus pandemic and where there had been cases, the individuals concerned had fully recovered and returned to work.

Esports Entertainment Group Inc (NASDAQCM:GMBL), a licensed online gambling company focused on esports wagering and adult gaming, said it has received its gaming service license for online pool betting from the Malta Gaming Authority (MGA). The license, issued April 30, is effective for a 10-year term and may be renewed by MGA for further 10-year periods subject to regulatory provisions, the company said. Esports Entertainment stressed the importance of obtaining such a license in Malta, which was one of the first countries in Europe to allow and regulate online gambling after giving out its first license in 2000. 

CytoDyn Inc (OTCQB:CYDY) confirmed to investors Wednesday that the company submitted the remaining parts of its Biologics License Application (BLA) for leronlimab as a combination therapy with HAART for HIV patients to the US Food and Drug Administration (FDA) on May 11. The regulator is expected to review CytoDyn’s BLA and make a filing decision on its completeness. If things go to plan, the FDA will then assign a Prescription Drug User Fee Act (PDUFA) goal date for drug review. CytoDyn has earned Fast Track designation for leronlimab, and the FDA previously granted the company a rolling review for its BLA. The company said it plans to request a priority review, which, if granted, would mean the FDA’s goal is to take action on the application within 6 months rather than the standard 10 months.

American Manganese Inc (CVE:AMY) (OTCPINK:AMYZF) is continuing to advance its ground-breaking recycling technology and on Wednesday announced the launch of optimization tests in a bid to upgrade its pilot plant. The news comes after the firm revealed earlier in May that its contractor Kemetco had come up with a plant layout for the first commercial-scale plant. The process extracts, from spent batteries, cathode materials such as lithium, cobalt, nickel and manganese at battery-grade purity. The firm says the process involves minimal steps, ensuring a high-grade, low-cost output.

Phunware Inc (NASDAQ:PHUN) has released a new mobile app, Gather Safe, to help its existing multiscreen-as-a-service (MaaS) customers to tech-enable their return-to-work strategies during the coronavirus pandemic. The company, which provides a fully integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands, said Gather Safe can be implemented either as a stand-alone app or as a software integration with existing apps on iOS and Android. The firm also said it is planning to release a stand-alone Gather Safe mobile app portfolio in June, which can be used for both personal and professional use across any group, organization, team, class or business.

GR Silver Mining Ltd (CVE:GRSL) (OTCQB:GLYXF) has unveiled further high-grade drill results from its Plomosas silver project in Sinaloa, Mexico, which underline the property's potential. These additional results confirm the presence of high-grade gold-silver mineralization in the Plomosas mine area, one of six identified priority areas, and come from un-mined zones. Highlight assays included 1.8 metres (m) at 30.6 grams per ton (g/t) gold and 118  g/t silver, which included an intersection of  0.6 m at 86 g/t gold and 36 g/t silver.

American Resources Corporation (NASDAQ:AREC) has announced the divestiture of certain surface and mineral acres located near Phelps, Kentucky to boost the company’s balance sheet and position it for high-octane growth. In a statement on Wednesday, the company said that it acquired the assets in February 2019, prior to the acquisition of other assets considered to be “more core” to the company's “near and intermediate growth” blueprint. Consideration for the assets being sold is the extinguishment of the entire $2,000,000 note associated with the original asset purchase and American Resources receiving back 2,000,000 shares of its Class A common stock. Additionally, American Resources will be removing over $2.6 million of associated reclamation liabilities (asset retirement obligations) from its balance sheet. American Resources Corporation CEO Mark Jensen said the company was “very pleased” with the outcome of the divestiture of “this idle and non-core property.”

Blockchain Holdings Ltd (CSE:BCX) announced Wednesday it has finalized the acquisition of the TraceSafe monitoring technology from WiSilica Inc. TraceSafe is a unique set of patent-protected health and safety products, including a bracelet with an embedded chip and related software to track the wearer's location. In a statement, Blockchain told shareholders that the burgeoning category of health and safety wearable technology will be “instrumental” to reopening economies following the coronavirus pandemic.

Great Panther Mining Limited (TSX:GPR) (NYSEAMERICAN:GPL) has issued an update on its coronavirus response as well as the planned restart of its Mexican operations. The gold and silver explorer said it intends to restart its operations in Mexico this month in accordance with the lifting of restrictions that have suspended mining in the country since the start of April. Great Panther also said its Tucano gold mine in Brazil is continuing to operate at full capacity with strict coronavirus protocols in place, and that it has currently not been subject to any government-imposed restrictions in response to the outbreak.

Progressive Planet Solutions Inc (CVE:PLAN) (OTCMKTS:ASHXF) announced Wednesday that it has closed its non-brokered private placement for 6,784,000 units at a price of $0.03 per unit to raise total proceeds of $203,520. The Vancouver-based industrial minerals group said each unit consists of one share and one-half of a share purchase warrant, with each whole entitling the holder to buy an additional share for $0.05 by May 12, 2021. The company may accelerate the expiry date of the 3,392,000 warrants by giving written notice to the holders. The securities will bear legends restricting resale until September 13, 202. Progressive Planet plans to use the money towards general working capital, equipment procurement, as well as $50,000 to retire debt supplied by a company owned by its controlling shareholder David Richardson.

Media Central Corporation Inc (CSE:FLYY) issued around 1.2 million shares priced at C$0.075 to settle a $90,400 debt. The company also granted options to purchase 200,000 shares to an employee at an exercise price of $0.10 per share for a five-year period. The publishing house also extended the expiry date on a group of 40.2 million warrants priced at $0.30 that were set to expire on July 30, 2020. The new expiry date is a year later on July 30, 2021.

Ozop Surgical Corp. (OTCPK:OZSC) announced that it has successfully reduced the number of active convertible noteholders from 18 down to 4 and expects that number to be down to 3 shortly. “I’m glad the number of noteholders has been significantly reduced, and we are looking forward to shifting our focus towards the closing of Power Conversion Technologies, Inc.” said Brian Conway, CEO. “We are on track towards completing the first payment to PCTI at the end of the month”.

Metalla Royalty and Streaming Ltd (CVE:MTA) said the TSX Venture Exchange has accepted for filing documentation relating to the share purchase agreement dated April 24, 2020, between Metalla and several arm's-length parties, whereby the company will acquire 100% of the issued and outstanding shares of Idaho Resources Corp. (IRC), a privately held Nevada corporation. IRC holds a 0.5% gross overriding royalty (GOR) on the Anglo/Zeke claim block in Eureka county in Nevada, which is located on trend to the southeast of the Cortez operations and Goldrush project owned by Nevada Gold Mines. IRC also holds a 1.5% GOR covering Nulegacy Gold Corp.'s Red Hill project in Eureka county in Nevada, which is contiguous to the southeast of the Anglo/Zeke claims. As consideration for the US$4 million purchase price, the company will make a US$1.9 million cash payment and issue an aggregate of 357,121 common shares at a deemed value of C$7.88 per share to the vendors.

O3 Mining Inc (CVE:OIII) said the TSX Venture Exchange has accepted for filing documentation relating to the mineral property purchase agreement dated April 20, 2020, between the company and Canadian Orebodies Inc. for the sale of the West Hemlo and North Hemlo properties located in the Hemlo mining district of Ontario. Under the terms of the agreement, Canadian Orebodies has agreed to acquire the properties by issuing 2.55 million common shares to O3 Mining on closing. In addition, the company shall pay a discovery bonus of $1 million in cash or shares, at the company's option, subject to certain conditions.

Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, has announced that it will host a conference call at 8.30am Eastern Time on Monday, May 18, 2020, to discuss the company's financial results for the first quarter ended March 31, 2020, as well as its corporate progress and other developments. The conference call will be available on the company's website at www.milestonescientific.com, or via telephone by dialing toll-free 877-407-0778 for US callers, or +1 201-689-8565 for international callers. A webcast will also be archived on the company's website and a telephone replay of the call will be available approximately one hour following the call, through Monday, June 1, 2020, and can be accessed by dialing 877-481-4010 for US callers, or +1 919-882-2331 for international callers and entering the passcode 34840.

TIMIA Capital Corporation (CVE:TCA) (OTCMKTS:TIMCF) has announced that its annual shareholder meeting will be held on June 2, 2020, at 10am Pacific Time. In the light of the coronavirus (COVID19) pandemic, the meeting will be conducted by way of virtual format including dial-in access and by live audio and video webcast. Please click the link below to join the webinar: https://zoom.us/j/98976907923; Meeting ID: 989 7690 7923; Password: Not Required. Or Telephone: Canada: 855 703 8985 (Toll Free); US: 888 788 0099 (Toll Free) or 877 853 5247 (Toll Free); International numbers available: https://zoom.us/u/abGKHIxceB (edited).

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