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NA Proactive news snapshot: WeedMD, MGX Minerals, Champignon Brands, CleanSpark, American Resources, OTC Markets Group UPDATE …

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

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WeedMD Inc (CVE:WMD) (OTCQX:WDDMF), a producer and distributor of medical-grade cannabis, has appointed prominent Canadian entrepreneur and venture capitalist Bruce Croxon to its board of directors. Croxon is co-founder of online dating service Lavalife, which he grew to 600 employees while achieving revenue of about $100 million before being sold. WeedMD said Croxon, whose appointment was finalized at the company’s annual general meeting in Toronto on Friday, brings deep expertise as an investor and advisor in growth-stage companies. Croxon said Ontario-based WeedMD “is considered a gem” in the cannabis industry.

MGX Minerals Inc (CSE:XMG) (OTCMKTS:MGXMF) released a new set of sampling results from its Heino gold deposit on Friday that revealed gold assays of up to six ounces per tonne. Earlier this week, MGX announced that samples taken from the 2030 Portal at the Heino-Money pit zone showed more than 1,000 grams per ton (g/t) of silver. Friday’s results were part of the same group of six samples taken from the area. The samples underwent gold analysis by fire assay and gravimetric finish to return six ounces per tonne gold, according to a statement, while the previous batch of results highlighted silver, lead, and zinc assays.

Champignon Brands Inc (CSE:SHRM) (OTCQB:SHRMF), a psychedelics company, announced Friday that it has filed acquisition reports related to its previous acquisitions of Artisan Growers Ltd, Novo Formulations Ltd and Tassili Life Sciences Corp. The filings are part of Champignon’s commitment to cooperate with the British Columbia Securities Commission and complete its disclosure review in a timely fashion, the company said. Champignon also announced that CEO Roger McIntyre has joined the company’s board of directors, replacing Pat McCutcheon.

CleanSpark Inc (NASDAQ:CLSK), a diversified software and services company, announced Friday the launch of its partnership program to accelerate growth. Participating partners will have access to the company’s mVSO energy project modeling software, proposal support, and co-marketing suite of services. CleanSpark said its partnership program will provide a way for battery manufacturers, energy developers, EPCs (engineering, procurement and construction companies) and solar installers to work directly with CleanSpark and offer its software and controls as part of ongoing project proposals, or as a reseller. The program will provide partners admittance to the new online partner portal where they will have use of CleanSpark's mVSO proposal and design software at preferred pricing for the partner's internal use.

American Resources Corporation (NASDAQ:AREC) reported strong second-quarter results that showed the company executing well after making a dramatic shift from coal to mining metallurgical carbon used in steelmaking. For its second quarter ended June 30, 2020, American Resources reported net income of $1.3 million, or $0.05 per share, compared with a net loss of $8.96 million, or a loss of $0.38 per share in the same period a year earlier. The Fishers, Indiana-based infrastructure company said its earnings before interest, taxes, depreciation, and amortization, or EBITDA was $5.7 million. In a statement, American Resources CEO Mark Jensen said: "Over the course of the second quarter our team continued to execute on the strategic transformation of the company to become a more diversified infrastructure company.”

OTC Markets Group Inc.(OTCQX:OTCM) reported the second-quarter performance and rebalancing of its OTCQX and OTCQB indexes on Friday, revealing the companies joining its ranks and those no longer qualifying. The OTCQX Composite Index, which functions as a benchmark for the OTCQX Best Market, jumped more than 20% in the second quarter. Thirty new companies were welcomed to the index, including North American explorer HighGold Mining Inc (OTCQX:HGGOF) (CVE:HIGH), specialty metals distributor AM Castle & Co (OTCQX:CTAM) and integrated cannabis company Khiron Life Sciences Corp (OTCQX:KHRNF) (CVE:KHRN).

Phunware Inc (NASDAQ:PHUN) announced Friday it has won a US patent that further protects its proprietary Multiscreen-as-a-Service (MaaS) platform. The Austin, Texas-based company said the new patent claims cover a system for creating an enterprise branded mobile application framework for brand extension that includes a navigation menu for accessing a series of predefined categories of branding features and submenus for providing access to specific functions within the predefined categories. A computer resource accumulates and analyzes users’ interactions on mobile devices with the enterprise branded mobile application framework, and application analytics are used to develop statistics for brand extension. 

American Manganese Inc (CVE:AMY) (OTCPINK:AMYZF) has unveiled plans to spin out its mining assets in British Columbia (BC) into a separate company to take advantage of the current bull market in precious and base metals. In a statement after the market close on Thursday, the company, which is focused on recycling spent lithium-ion batteries, said it did not believe these valuable assets, notably its past-producing Rocher DeBoule property, was reflected in the group's share price.

Empower Clinics Inc (CSE:CBDT) (OTCMKTS:EPWCF) revealed audited fiscal 2019 results on Friday that showed revenue more than doubled on the back of record patient growth at the company’s Sun Valley Health subsidiary, which owns a network of physician-staffed, medical cannabis-focused health clinics in Oregon and Arizona. The company clocked up revenue of $2,031,581, or $0.02 per share driven by 15,920 patient visits in fiscal 2019, compared to revenue of $1,091,386 based on 7,607 patient visits in fiscal 2018. The Vancouver-based firm also said that clinic revenue for the fiscal fourth quarter and full-year 2019 were $542,677 and $1,949,549 respectively, compared to fiscal fourth quarter and full-year 2018 revenue of $196,909 and $1,091,386.

Media Central Corporation Inc (CSE:FLYY) is set to buy online cannabis hub Budtree Corp in a share deal to accelerate its plans to introduce an eCommerce platform linked to its cannabis digital news site, CannCentral.com. The deal follows hot on the heel of news earlier this month that Canncentral.com is beta testing a new CBD eCommerce marketplace to offer a platform to sell legal hemp-based CBD products. Budtree offers a directory and marketplace for consumers to buy products in the medical and recreational market and has struck a binding letter of intent with Media Central. Budtree has invested nearly C$2 million in its proprietary web platform and will become a wholly-owned subsidiary of Media Central, gaining access to its 6.5 million readers.

Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) said it continues to increase its ground in the famous Greenwood mining camp in British Columbia (BC) having bought mineral properties throughout the past two months in the area and recently staked another three claims, which adjoin its Amelia gold mine property. One claim covering 42.3 hectares was purchased from an individual west of Amelia, while two claims spanning 1,500.7 hectares were acquired through the BC mineral tenure online system. The new claims cover occurrences at Pictou, Stan, Elk, Ho and Jolly Creek Chrome, said Ximen, highlighting that official data showed that Pictou covers a 6 meter wide shear zone from which values up to 209 grams per tonne (g/t) silver have been obtained historically.

NetCents Technology Inc (CSE:NC) (OTCQB:NTTCF), a cryptocurrency payments technologies company, continues to grow its international merchant base and has begun making inroads to new merchant industries, notably business-to-business (B2B). In a statement Friday, the company said it has experienced a rapid geographic diversification of its merchant base in 2020 compared to 2019 when 27% of NetCents merchants were located outside the US. This year that number has jumped to 67%, with 81% of new merchants using the merchant gateway located internationally.

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) reported record revenue of C$6.9 million in its second quarter, according to financial results released Friday. During the period ended May 31, 2020, the cannabis technology company saw its revenue increase by 73% over the same quarter a year ago, a 31% sequential increase, largely thanks to its online cannabis store CannMart.com, which generated net revenue of $2.4 million. Toronto-based Namaste also narrowed its net loss significantly to $4.8 million compared to $8.6 million in the year-ago quarter, which was attributed to CannMart's introduction of new distribution channels, restructuring efforts in 2019, and resulting business improvements in 2020.

Weekend Unlimited Industries Inc (CSE:POT) (OTCQB:WKULF) said Friday that it has appointed finance industry veteran Michael Young as a director, replacing David Parchomchuk who is stepping down from the board. The firm noted that Young has extensive senior executive management and trading experience in the Canadian and US capital markets. He was managing director and co-head of trading for a Canadian investment bank. Before becoming the co-head of trading, Young established and ran the equity capital markets desk for the bank's US operations in New York City. It said Young sat on the board of ICC Labs, which was acquired by Aurora Cannabis Inc (NYSE:ACB) in 2018 and was also a founding shareholder and board member of Nuuvera, which was also acquired two years ago. He is a founding shareholder and chairman of US-based Better Choice Company Inc (OTCMKTS:BTTR) that invests in the animal health and wellness industry.

GR Silver Mining Ltd (CVE:GRSL) (OTCQB:GRSLF) has released a new set of high-grade drill results including intercepts of up to 1,182 grams per ton (g/t) silver equivalent over three metres from its Plomosas project in Mexico. The results indicated continuity of high-grade silver mineralized zones around 100 metres from a previously released set of results from the San Juan target area on the property, defining a strike length of up to 1,000 metres. In a statement, Vancouver-based GR Silver said the new set of 17 drill results were from 17 diamond core holes sunk by previous operators First Majestic Silver Corp and not released to the market.

American Battery Metals Corporation (OTCQB:ABML) is teaming up with San Francisco-based investment firm Just Business as it pivots to focus mainly on its battery recycling business to create a cleaner world. Just Business deploys capital for growth and engages with firms, which are committed to financial profitability along with tangible environmental and social impact, American Battery said. The company's recycling process extracts valuable metals like lithium, manganese, nickel, and cobalt from depleted batteries, delivering them to manufacturers to produce new batteries.

Marrone Bio Innovations Inc (NASDAQ:MBII) announced Friday that incoming CEO Kevin Helash will officially take the reins on August 3, a week before the company reports its second-quarter results. The plant health solutions company's management, including Helash, plans to host an investor conference call at 4.30 pm ET (1.30 pm PT) on August 10 to reveal the results for the three months ended June 30, 2020. 

Aurania Resources Ltd (CVE:ARU) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement, announced on February 19, 2020, which will see the issue of 2,087,139 common shares at a purchase price of $3.10 each, together with 1,043,569 common share purchase warrants at an exercise price of $4.25 for 18 months following the closing of the private placement with 32 placees. The company confirmed the final closing of the private placement in news releases on June 11, 2020.

American Rebel Inc. (OTCQB:AREB) said its CEO Andy Ross was interviewed by Frank Morano of ABC News Radio, discussing the McCloskeys, record gun sales and the cannabis industry's first inventory control safe. Ross said that American Rebel believes 100% in gun ownership and the right to bear arms and the second amendment, but also practices responsible gun ownership which is to safely store firearms to prevent accidents and that he walks a tightrope between political points of view. Investors can listen to the complete Andy Ross interview on ABC News Radio with Frank Morano at this link: https://www.youtube.com/watch?v=sEjEWY6xLtI

OTC Markets Group Inc. (OTCQX:OTCM), operator of financial markets for 10,000 U.S. and global securities, announced that Else Nutrition Holdings Inc. (CVE:BABY) (OTCQX:BABYF), an Israel-based food and nutrition company focused on plant-based products, has qualified to trade on the OTCQX Best Market and has today upgraded from the OTCQB Venture Market.  The OTCQX Market is designed for established, investor-focused US and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among US investors. Hamutal Yitzhak, Else Nutrition CEO and co-founder commented: "We are very excited to have qualified to upgrade our US trading to the OTCQX Market.. We remain steadfast in our commitment to our stakeholders, and look forward to build upon and expand upon the achievements that have brought us to this milestone."

Quick facts: American Manganese Inc.

Price: 1.39 CAD

Market: TSX-V
Market Cap: $264.1 m

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on 11/24/2020

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