NA Proactive news snapshot: Canntab Therapeutics, PyroGenesis Canada, Quantum Computing, Cardiol Therapeutics, Antibe Therapeutics UPDATE ...

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

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

Canntab Therapeutics Ltd (CSE:PILL.CN) (OTCQB:CTABF) announced a major milestone Tuesday, striking a purchase deal with MediPharm (TSE:LABS)(OTCQX:MEDIF), which will start distributing and selling the former's cannabinoid tablets across Canada this summer. Canntab said it was kicking off production of its instant release tablets today and already received its first order under the deal with MediPharm. The exact value of shipments under the agreement will be determined no later than June 30 this year, but is expected to top C$1 million.

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) said it will continue to rely on the temporary blanket relief in the light of the pandemic provided to firms by the Canadian Securities Regulatory Authorities for filing of its annual results to December 31 and first quarter to end March. As a result, PyroGenesis expects to file its annual filings on or before June 15 this year and its Q1 2020 results on or before July 16 this year.

Quantum Computing Inc (OTCQB:QUBT) revealed that a new scientific paper showed QCI qbsolv, a component of its Mukai software execution platform for quantum computers, achieved best-in-class performance. The technical study used the Massachusetts Institute of Technology’s (MIT’s) MQlib, a well-established combinatorial optimization benchmark, to compare QCI qbsolv performance with those of a variety of solvers. The researchers found that QCI qbsolv delivered better quality of results for most problems (27 of 45) and often ran more than four times faster than the best MQlib solver (21 of 45 problems).

Cardiol Therapeutics Inc (TSE:CRDL) (OTCQX:CRTPF) said Tuesday that its shareholders have voted in favour of all management resolutions proposed in the company’s information circular. The resolutions include the re-election of its seven board members, the appointment of BDO Canada LLP as auditors and the approval of the company’s equity compensation plan. The pharmaceutical CBD firm held its annual general meeting on June 1.

Antibe Therapeutics Inc (CVE:ATE) (OTCQB:ATBPF) said it will host a conference call on Thursday June 4 to discuss the results from its recent Phase 2B study on its lead drug ATB-346. The call will take place at 10 AM EST with Antibe’s management, who will briefly summarize the results and participate in a Q&A session. Analysts may call the toll-free number 1-888-664-6392 and use the conference ID: 60945222. Investors may access the live audio webcast here.

Great Bear Resources Ltd (CVE:GBR) (OTCMKTS:GTBDF) has closed on a bought deal private placement that raised C$33 million. The company issued a total of 1,470,600 common shares that qualify as "flow-through shares" for tax purposes at C$17 each and 725,000 common shares for C$11.04 apiece. The proceeds will be used for Canadian exploration expenses at Great Bear's projects in Ontario and for general corporate purposes. Great Bear said it has about $53 million in cash and is fully funded for continuous exploration drilling through 2022. The Vancouver-based company is focused in the prolific Red Lake gold district in northwest Ontario.

BioLargo Inc (OTCQB:BLGO) subsidiary Clyra Medical Technologies Inc has recruited two experienced business executives as it launches the Clyraguard personal protection spray to help protect non-critical personal protective equipment from the SARS-CoV-2 virus which causes the  COVID-19 disease. Shawn Dougherty, an entrepreneur, will serve as chief revenue officer with John Sirpilla taking over as chief business development officer. Sirpilla is the former president of Camping World Accessory Stores. 

Ozop Surgical Corp (OTCPINK:OZSC) announced Tuesday that Power Conversion Technologies Inc (PCTI) is participating in a bid to manufacture power converter modules for the US Air Force. The bid, led by a defense contractor, involves manufacturing the modules for two prototype flight-line power carts that will help in the Air Force’s equipment and communications modernization effort known as “Flightline of the Future.” According to a statement by Ozop, the Air Force is looking to switch from its fleet of 4,500 older diesel engine generators to pure battery-powered carts.

Arizona Silver Exploration Inc (CVE:AZS) (OTCMKTS:AZASF) said Tuesday that a number of drill holes on its Philadelphia project have intersected a vein and contained isolated visible gold grains of up to 1.25 millimetres. The Vancouver-based explorer said it has completed 21 reverse circulation drill holes on the project, with 15 of the holes hitting the vein. Fire assays on the drill samples returned values of up to three grams per ton (g/t) gold across a minimum sampling width of five feet.

Humanigen Inc (OTCQB:HGEN), which is studying lenzilumab to prevent and treat cytokine storm in  coronavirus (COVID-19) patients, announced Tuesday the pricing of a private placement of about $72 million of common stock. The company said net proceeds from the financing will be used to fund development its monoclonal antibody portfolio and for general corporate purposes, including the pivotal Phase III trial of lenzilumab for the prevention and treatment of COVID-19-caused pneumonia. The company also said it is planning to list on a national securities exchange in the coming months.

Milestone Scientific Inc (NYSEAMERICAN:MLSS) has appointed a new chief executive for its subsidiary Wand Dental Inc, a 30-year medical device and pharmaceutical veteran, Jan Adriaan (Arjan) Haverhals. Haverhals was previously senior vice president of sales at Xcentric Mold & Engineering, where he increased sales productivity and efficiency for its prototype injection molding services, which included work with leading healthcare clients. Haverhals is replacing Gian Domenico, who will remain on Milestone Scientific’s board of directors.

Mind Medicine (MindMed) Inc (NEO:MMED) (OTCQB:MMEDF) said it had appointed a world-leading psychedelics researcher as principal investigator for the first ever Phase 2a proof-of-concept clinical trial assessing lysergic acid diethylamide (LSD) to treat attention deficit hyperactivity disorder (ADHD) in adults. It comes as the Reno-based neuro-pharmaceutical firm's microdosing division, which is assessing consuming very low, sub-hallucinogenic doses of psychedelic substances, is expanding its slate of research and clinical trials. It has now added the University Hospital Basel in Basel, Switzerland as a further trial site and leading researcher Dr Matthias Liechti as the principal investigator there, the company said in a statement.

Empower Clinics Inc.(CSE:CBDT) (OTCMKTS:EPWCF) has revealed that its national roll-out of coronavirus (COVID-19) antibody testing is going well and patient numbers exceeded expectations in May. As reported in April, the life sciences group has established a four-phase antibody testing program using RAPID COVID-19 test kits and the firm has now reached Phase Three, which involves business employee testing (BET) programs. These Phase Three pilot programs have successfully been delivered and established a new revenue stream for Empower, the firm told investors in a statement on Tuesday.

Ceylon Graphite Corp (CVE:CYL) (OTCMKTS:CYLUF) has announced the first sale of graphite from its K1 mine in Sri Lanka. The Vancouver-based company’s subsidiary, Sarcon Development Ltd sold one ton of vein graphite with a carbon content of 95% to 97% to Singapore’s 2D Materials Pte Ltd, which aims to use the graphite in its graphene production. Ceylon Graphite’s K1 mine first started commercial production of graphite in December 2019. The mining company pointed out that Sri Lankan graphite is recognized as one of the purest forms in the world.

Media Central Corporation Inc (CSE:FLYY) announced Tuesday that it has launched its latest original digital media platform, ECentralSports.com, a dynamic digital news and gaming culture destination for gaming and esports fans. ECentralSports will tap into a global gaming and esports market with extensive reach. The gaming market is pegged at $148.8 billion, according to Newzoo, a source for games and esports analytics. Newzoo estimated that esports alone reached 454 million viewers worldwide in 2019, with growth projected to snowball to 645 million viewers by 2022. The coronavirus (COVID-19) pandemic has triggered "exponential growth" in gaming, Media Central noted in a statement, with people at home “with no live-action sports” increasingly “turning to gaming for entertainment.”

Exro Technologies Inc (CSE:XRO) (OTCQB:EXROF) chief executive Sue Ozdemir has said the company is in “full force” at commercializing its patented Coil Switching technology. In a statement accompanying the company’s first-quarter results, Ozdemir said the business is also working to open a 6,500 square-foot innovation center in Calgary, Alberta to “demonstrate how the company dramatically improves the performance of the world's electric motors”. “The Exro Innovation Center (EIC) will also increase the company's laboratory space, to expand its service capabilities to customers and showcase where Exro's technology can be applied to key sectors of the economy. The EIC will also host collaborative events to explore advances in energy consumption and power electronics innovations, with participants from Calgary, across Canada and around the world", Ozdemir noted.

Esports Entertainment Group Inc (NASDAQCM:GMBL) said it has appointed Magnus Leppäniemi as its vice president of marketing and head of esports at its Vie.gg platform. The online gambling and esports wagering specialist noted that Leppäniemi is an industry veteran with over 20 years of sales and marketing experience. Leppäniemi has sold and managed global esports partnerships for major brands and partners such as Intel, BenQ Zowie, Electronic Arts, Activision, ESL, and the NBA. Prior to joining Esports Entertainment, Leppäniemi served as global sales director for Wehype and as sales director North America at DreamHack, a Swedish production company specializing in esports tournaments and other gaming conventions.

Phunware Inc (NASDAQ:PHUN) said its Multiscreen-as-a-Service (MaaS) platform now offers seamless integration with HID mobile access, a credentialing technology developed by HID Global. HID Mobile Access enables employees to use their smartphone, tablet or wearable to access doors, gates and networks. Phunware said with the technology’s new integration in MaaS, app users are able to use mobile devices instead of badges or key fobs for access purposes, adding that its technology also integrates with BEEKs Bluetooth Low-Energy (BLE) beacons, which are available through HID Location Services.

Helix Technologies Inc (OTCQB:HLIX) announced Tuesday the release of Cannalytics Business Intelligence for cultivators, a groundbreaking data platform that delivers deep insights into the production end of the cannabis industry. The company said the platform is the industry’s first business intelligence tool that integrates into cultivation software, allowing growers to track and forecast yields, predict harvests, track yields on a strain-by-strain basis, and maximize working capital availability through inventory management. “Helix has quietly been on the leading edge of innovation in cannabis, in the same focused way we’ve continued to grow our market share and deliver new technology,” Garvis Toler, Helix’s president of data services said in a statement.

American Battery Metals Corporation (OTCQB:ABML) said it has received an initial investment towards a previously disclosed $10 million strategic investment infusion from Unifinance Limited. The entire investment, in the form of a purchase of the company's Series B preferred stock which is convertible into common stock at a fixed price of $0.25 per share, remains committed and will be provided as needed for the construction of the firm’s battery metals recycling plans, the group said. Unifinance is an affiliate of VCM Group, the EPC (Engineering, Procurement, and Construction) partner for American Battery.

Loop Insights Inc (CVE:MTRX) CEO Rob Anson told shareholders on Tuesday that the artificial intelligence firm’s insider commitment is “very supportive and strong.” According to the Vancouver-based firm, no insider has sold a share of the company since it went public in June 2019. Around 40% of the stock is currently owned by insiders, most of which have escrow restrictions from four to 36 months. "The last few months have been extremely positive for Loop, and with the recent completion of our $2.1m financing, we are 100% committed and focused on execution, and delivering long term shareholder value,” Anson said in a statement.

Aftermath Silver Ltd (CVE:AAG) (OTCQB:AAGFF) has named Alastair Brownlow as its new finance chief after Jasmine Lau resigned on June 1 this year due to her upcoming maternity leave. Chartered accountant Brownlow has accumulated extensive experience working as chief financial officer of TSX-V listed mineral exploration and development companies throughout the world, including exploration and production companies in South America. He has also worked as an auditor in the British Virgin Islands focusing on financial and regulatory reporting of public and private funds and trust companies.

Mota Ventures Corp (CSE:MOTA) (OTCPINK:PEMTF) has completed its C$20 million acquisition of European psychedelic medicine company Verrian Ontario Ltd by acquiring all the firm's outstanding share capital. Verrian specializes in products related to addiction reduction, with a particular focus on alcohol and opiates. The company operates a 110,000 square-foot pharmaceutical manufacturing facility in Radebuel, Germany. Verrians’s manufacturing site includes an analytical laboratory and finished-dose manufacturing. Its facilities and equipment have been independently appraised at C$10.6 million.

Progressive Planet Solutions Inc (CVE:PLAN), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement production, said it has arranged for new credit facilities of up to $300,000. In a statement Tuesday, the company said the facilities include a fixed-rate term loan for up to $200,000 to finance the purchase of equipment to increase its capacity to produce fine rock powders (comminution) from both its own mineral assets as well as the ability to complete toll processing contracts for third parties. The loan is for a five-year term with an interest rate equal to prime plus 3%. In addition, the Bank of Montreal has provided an Operating Demand Loan of up to $100,000 with an interest rate of prime plus 2.5%.

VR Resources Ltd (CVE:VRR) (OTCMKTS:VRRCF) told investors Tuesday it has increased its previously announced financing to fund exploration in Nevada and Ontario to up to C$2.2 million. On May 25 this year, the junior explorer announced a private placing of C$1.34 million consisting of up to 5 million units priced at C$0.22 each. The offering will now consist of up to around 8.7 million units at C$0.22 each. Each unit consists of one share and one-half of a share purchase warrant, the Vancouver-headquartered group said in a brief statement.

OTC Markets Group Inc. (OTCQX:OTCM), operator of financial markets for 10,000 U.S. and global securities, announced that Protech Home Medical Corp. (CVE:PTQ) (OTCQX:PTQQF), a provider of in-home monitoring and disease management services including end-to-end respiratory solutions for patients in the United States healthcare market, has qualified to trade on the OTCQX Best Market from today. "We are pleased to welcome Protech Home Medical to the OTCQX Best Market," said Jason Paltrowitz, EVP of Corporate Services at OTC Markets Group. "Trading on the TSX Venture Exchange in Canada and on the OTCQX Market in the US will enable Protech Home Medical to more efficiently build global investor awareness. We look forward to supporting the company and its shareholders." Greg Crawford, CEO and chairman at Protech commented: "This is a true milestone for our Company, and we are thrilled to have a foundation in which we can share our long-term vision for Protech with a wider pool of retail and institutional shareholders throughout the United States. We firmly believe that cross-trading on OTCQX in the US is vital for a company headquartered in the US and deriving 100% of its revenue from US customers."

Kincora Copper Ltd (CVE:KCC) said the TSX Venture Exchange has accepted for filing the company's proposal to issue 1,973,800 bonus shares at a deemed price of 10 cents per share in consideration of $197,380 of bonus payments. Insider participation: Jonathan Spring, 677,160 shares to settle a $67,716 payment; John Holliday, 700,000 shares to settle a $70,000 payment.

TIMIA Capital Corporation (CVE:TCA) (OTCMKTS:TIMCF) has announced that its Annual Shareholder Meeting (AGM) will be held on June 2, 202, at 10am (Pacific Time). In the light of 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 following link 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).

MGX Minerals Inc. (CSE:XMG)(FKT:1MG)(OTC PINK:MGXMF) has announced that it has been forced to postpone its annual general meeting and requisitioned meeting of shareholders, originally scheduled for June 30, 2020, due to public health measures currently in place with regard to the coronavirus (COVID-19) pandemic. The company has been advised that it is not possible to hold a contested virtual-only meeting in Canada and a suitable location which can accommodate an in-person meeting is not available at this time, given the restrictions on public gatherings and in the best interest of the health and safety of our employees, shareholders, and directors. It has therefore filed a petition with the British Columbia Supreme Court seeking relief from statutory meeting deadline requirements and asking the Court to grant the company the ability to hold the meeting at any time prior to the end of the year. Once a new meeting date is determined, the company will file an amended notice of meeting.

Naturally Splendid Enterprises Ltd. (CVE:NSP) (OTCMKTS:NSPDF) has announced that, due to circumstances created by the coronavirus (COVID-19) pandemic measures, the company will be delaying the filing of its first-quarter interim financial statements and related management discussion and analysis for the period ended March 31, 2020, until a date that is on or before July 15, 2020. The company confirms that no material business developments have occurred since filing of the company's interim financial statements for the three and nine-month period ended September 30, 2019, and should material business developments occur the company will update shareholders accordingly.

Empower Clinics Inc. (CSE:CBDT)(OTCQB:EPWCF), a vertically integrated life sciences company, has determined that it will not be able to file its annual audited financial statements for the year ended December 31, 2019, and its related Management's Discussion and Analysis and chief executive officer and chief financial officer certifications by the prescribed filing deadline of June 15, 2020. The company said that it has, therefore, made an application to the Ontario Securities Commission for a management cease trade order (MCTO), which would restrict all trading in securities of the company, whether direct or indirect, by its chief executive officer and chief financial officer. The issuance of an MCTO does not generally affect the ability of persons who are not directors, officers or other insiders of the company to trade in securities of the company.

Add related topics to MyProactive

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


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 Empower Clinics Inc. named herein, including the promotion by the Company of Empower Clinics Inc. in any Content on the Site, the Company...


Ascendant Resources drill program continues looking to expand south zone at...

Ascendant Resources (TSE: AND) President and CEO Chris Buncic joined Steve Darling from Proactive with news the company's drill program continues as the look at the South Zone of the Lagoa Salgada Project in Portugal. Buncic telling Proactive they are expecting to have results from this...

14 hours, 21 minutes ago

16 min read