logo-loader

NA Proactive news snapshot: PyroGenesis, HighGold Mining, Pacton Gold, Esports Entertainment, CleanSpark, NexTech AR 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

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) confirmed that the terms have been set for two PyroGenesis waste destruction systems valued at around $11.5 million for the US Navy’s two-ship build. The formal agreement is expected to be signed within three weeks and will include a first payment of $4 million. The project should be completed in 18 months. With this additional contract, the backlog is expected to be in excess of $40 million. “Investors can take comfort from the fact that PyroGenesis has never been on more solid ground,” said CEO Peter Pascali. “The backlog is increasing to record levels, the pipeline is growing exponentially, and our balance sheet has been cleaned up with unexpected cash flow being generated from the early conversion of warrants. In fact, since April, PyroGenesis has been an active purchaser of over one million of its shares in the market. In short, investors can rest assured that the future has never looked better.”

HighGold Mining Inc (CVE:HIGH) (OTCQB:HGGOF) revealed it had consolidated its footprint around its existing Munro-Croesus gold project near Timmins, Ontario. The resource group struck three separate deals with arm's length vendors to buy a total of 38 claims, which cover a total area of around eight square kilometres (sq km), or 792 hectares (ha) in the Timmins region. It brings the firm's total consolidated land position to around 12 sq km, or 1,181 ha.

Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) has closed the final tranche of a C$6.6 million financing to fund continued exploration and development activities at its Red Lake and Australian mineral properties. In the latest and concluding round, Pacton issued just over 2.8 million non-flow-through shares priced at C$0.70 for total proceeds of $2 million. Pacton also issued around 2.1 million flow-through shares priced at $0.79 for total proceeds of nearly $1.7 million. As part of the Income Tax Act of Canada, investors who bought flow-through shares are eligible for tax rebates as they fund mineral exploration in Canada. In all, the firm raised a total of $6,617,838 following the close of the final tranche of its non-flow-through financing and the close of its C$0.79 flow-through financing.

Esports Entertainment Group Inc (NASDAQ:GMBL) has signed a licensing and sponsorship agreement with Allied Esports for the upcoming inaugural VIE.gg Counter Strike: Global Offensive (CS:GO) Legend Series tournament. The event, which begins on August 31, will see 12 teams from various European countries compete for €50,000 in prize money. The 5v5 tournament will be offered to customers on the VIE.gg platform and produced by Allied Esports from its HyperX Esports Studio in Hamburg and broadcast live on Twitch.

CleanSpark Inc (NASDAQ:CLSK), a diversified software and services company, and ReJoule, a battery diagnostics and optimization company said Thursday that they have been awarded a $2.9 million grant from the California Energy Commission. The Utah-based company said the grant will be deployed over the next 30 months and the funds will be distributed to the multi-group partnership of clean energy companies. ReJoule and CleanSpark will be further supported by Ford Motor Company (NYSE:F), BigBattery and GRID Alternatives. CleanSpark said it expects to receive around $470,000 from the funding for its microgrid design and mVSO software services and follow-on deployment of its mPulse software and controls. CleanSpark has also agreed to provide over $88,000 in matched funding.

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) revealed on Thursday that the company, which is a dominant player in the red-hot augmented reality space for eCommerce, video conferencing and virtual events, has filed to uplist its stock to the tech-laded Nasdaq Capital Market. In a statement, NexTech CEO Evan Gappelberg said: “We have worked very hard to be able to meet the requirements for Nasdaq and believe that we check all the boxes. Our plan to move to a national exchange reflects our capital raising success, as well as the momentum in growing our video conferencing software platform InfernoAR and augmented reality business.” He added: “We believe that listing on Nasdaq will help broaden our shareholder base, increase appeal to institutional investors, indexes and ETF’s and provide shareholders with better liquidity.”

Agraflora Organics International Inc (CVE:AGRA)said it has completed a non-brokered private placement of 11,612,000 units of the company at a price of 7.5 cents per unit for gross proceeds of $870,900. Each unit consists of one common share of the company and one transferable common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share for a period of five years from closing at a price of 10 cents per common share. The securities issued pursuant to the offering are subject to a four-month hold period. The proceeds of the offering are planned to be used by Agraflora for general continuing working capital and corporate purposes.

 

 

 

 

MagicMed Industries Inc (PRIVATE) announced Thursday that it has filed a provisional patent application with the US Patent and Trademark Office (USPTO) related to the composition of matter, drug formation and the process of preparation for novel psilocybin derivatives. The Calgary-based company expects the filing to be the first in a series of applications that together are designed to protect its portfolio of novel derivatives known as the Psybrary. MagicMed partners will be able to search, select and test from the derivatives that are part of the Psybrary and use them as building blocks for their own products, such as treatments for anxiety, addiction, PTSD and other conditions, the company said.

Medexus Pharmaceuticals Inc (CVE:MDP) (OTCQB:PDDPF) announced Thursday that its joint-disease drug Triamcinolone Hexacetonide Injectable Suspension 20 mg/mL (TH) has been added to public drug plans in four Canadian provinces. The drug has been approved for inclusion on the Alberta Drug Benefit List (ADBL), the Saskatchewan Drug Plan, the Newfoundland and Labrador Prescription Drug Program (NLPDP), and the Yukon Drug Formulary for the treatment of Juvenile Idiopathic Arthritis (JIA).  Also for public reimbursement, TH has been approved for inclusion on the Ontario Drug Benefit Formulary/Comparative Drug Index and the Non-Insured Health Benefits – Drug Benefit List for its full Health Canada-approved indication, which includes approved use in both adults and adolescents.

Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) has announced second-quarter production figures on Thursday that included record output at its Tucano mine in Brazil during the month of June. The Vancouver-based miner produced 36,356 gold ounces and 142,457 silver ounces for a total of 38,540 gold equivalent ounces from its three operating mines, which also include the Topia and Guanajuanto Mine Complex in Mexico. At Tucano, the mine set a new monthly production record of 15,389 gold ounces in June.

AIM ImmunoTech Inc (NYSEAMERICAN:AIM) revealed on Thursday that it has struck a clinical trial agreement (CTA) with Roswell Park Comprehensive Cancer Center to support its Phase 1/2a trial of Ampligen (rintatolimod) in combination with interferon alfa-2b, in cancer patients with COVID-19, the disease caused by the SARS-CoV-2 coronavirus. Funding for the clinical trial is being provided, in part, through grants from the National Cancer Institute and AIM, as well as institutional support from Roswell Park. In a statement, AIM ImmunoTech CEO Thomas K Equels said: "We are excited to team up with Roswell Park, a leading cancer research center, to test Ampligen as part of an antiviral treatment combination for COVID-19 among cancer patients.”

Silver Range Resources Ltd (CVE:SNG) has renegotiated the terms of an option agreement on its Yuge property in Nevada, setting the stage to quickly advance exploration at the precious metals project. The Vancouver-based explorer optioned the property to Trifecta Gold Ltd (CVE:TG) in 2018 in a deal that would see Trifecta earn an initial 51% interest if it completed a $1 million exploration program by 2021 and an additional 24% interest if it spent $2 million on exploration by 2023. The amended terms see Silver Range taking a 9.9% stake in Trifecta, which will receive a path to 100% ownership of Yuge. Once it earns that 100%, Silver Range will receive a 2% net smelter return royalty, half of which can be purchased for $1 million, as well as payments of US$2 per ounce of gold or gold equivalent included in the Yuge resource.

InnoCan Pharma Corporation (CNSX:INNO) announced Thursday it is collaborating with Recipharm in Israel to synthesize and analyze cannabinoid-loaded exosomes. In layman’s terms, exosomes are extracellular vesicles, crucial in cell–to-cell communication which are being explored as a means of drug delivery. Also, the small vesicles that are created when stem cells are multiplied can target and help repair damaged cells. Recipharm is a leading Contract Development and Manufacturing Organisation (CDMO) in the pharmaceutical industry employing almost 9,000 employees. 

Mandalay Resources Corporation (TSE:MND) (OTCQB:MNDJF) has posted another strong period of production and sales in its second quarter and sees further operational improvements ahead despite issues surrounding the coronavirus (COVID-19) pandemic. For the three months to June 30, 2020, the miner generated 24,752 ounces of saleable gold equivalent, versus 19,500 ounces in 2Q, 2019, which was its best consolidated gold output result since the fourth quarter of 2017,  the company told investors. Both its operating mines performed strongly, but Costerfield in Australia stood out again, with excellent results continuing at the Youle vein, producing 13,502 gold equivalent ounces, the firm added.

Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) is poised to raise up to C$1 million in a private placing to advance exploration, including follow-up drilling at the recently discovered zinc-lead zone near Carrickittle in Ireland. Group Eleven said it will issue over 16.6 million shares at C$0.06 each for gross proceeds of up to C$1 million. Each unit consists of one share and one half of a  share purchase warrant, which entitles the holder to buy an additional company share for C$0.12 each for 36 months from the date of issue "Proceeds from the offering will be used to fund exploration, including follow-up drilling at the company's recently discovered zinc-lead zone near Carrickittle in Ireland, as well as, general and administrative purposes," the firm said in a brief statement. On July 6, Group Eleven revealed that it had hit the best mineralization ever found at the prospect, which is part of its PG West project in the Republic of Ireland.

CanaFarma Hemp Products Corp. (CSE:CNFA) has announced the grant to the company's chief executive officer of an aggregate of 3,750,000 options to acquire common shares in the capital of CanaFarma at a price of $0.79 for a period of three years. It said 750,000 of the foregoing options shall vest immediately, with a further 750,000 options vesting on each of September 19, 2020, March 19, 2021, September 19, 2021 and March 19, 2022, subject to earlier expiry in the event of the officer ceasing to serve in such role. All of the options granted today (and the common shares issuable upon exercise) will be subject to applicable securities law hold periods.

Media Central Corporation Inc. (CSE:FLYY) (FSE:3AT) has announced the results of voting at its Annual General & Special Meeting of shareholders which was held on Wednesday in Toronto, Ontario. It said all matters submitted to shareholders for approval as set out in the company's Notice of Meeting and Management Information Circular, both dated May 22, 2020, were approved by the requisite majority of votes cast at the meeting. Management was pleased with the impressive shareholder engagement demonstrated by a vote of more than 57% of issued and outstanding shares, the group added. Following the endorsement of the shareholders, it said the group's management is keen to continue the company's corporate and operational plans including renewal of several potential acquisitions which were in the later stages of negotiation prior to today's meeting.

Exro Technologies Inc. (CSE:XRO)(OTCQB:EXROF) has announced the results of voting at its annual general meeting of shareholders which was held on Tuesday, July 7, 2020 in Vancouver, British Columbia. It said all matters submitted to the shareholders for approval as set out in the company's Notice of Meeting and Information Circular, dated June 2, 2020, were approved by an overwhelming majority of votes cast at the meeting.

Newgioco Group Inc (NASDAQ:NWGI), a gaming technology company with gambling operations in Italy, has said it intends to file its quarterly report to March 31, 2020, as soon as practicable within the time frame provided by the Nasdaq index after the group failed to comply with earlier filing requirements. "Newgioco was particularly impacted due to the sudden and unforeseen lockdown of both commercial businesses and travel restrictions in Europe that affected not only our operations but also our ability to carry out corporate responsibilities on a timely basis,” said Michele Ciavarella, CEO of the firm in a statement. "Since partial relief to reopen commenced in Italy on May 4, 2020, our management team and auditors have worked diligently towards completing both our annual report for the year ended December 31, 2019, which we filed on July 2, 2020, and our quarterly report for the three months ended March 31, 2020, which we expect to file as soon as practicable to regain compliance."

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

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Alpha Growth PLC using experienced team to start Alpha Growth and Income...

Alpha Growth PLC (LON: ALGW) CEO Gobind Sahney joined Steve Darling from Proactive to discuss the fund called Alpha Growth and Income fund or AGI. This funds prospective client are family offices, pension funds, and other institutions that still wish to receive some income but also want their...

1 day, 16 hours ago

12 min read