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NA Proactive news snapshot: Canntab Therapeutics, Gevo, Canntab Therapeutics, Medexus Pharmaceuticals, Versus Systems UPDATE …

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

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Canntab Therapeutics Limited (CSE:PILL) (OTCQB:CTABF) has reached a pair of binding agreements to buy $1.3 million worth of cannabis processing equipment and leasehold improvements for its Markham, Ontario facility. The first deal will see the company pay C$1 million by issuing nearly 2 million shares of stock at a price of C$0.51 per share. The seller of the equipment is CMAX Technologies Inc, a related party of which Canntab CFO Richard Goldstein is the sole director and officer. Additionally, the company has agreed to purchase $300,000 in cannabis processing equipment from Pharmagenerics Solutions Inc, which it will pay for by issuing 588,235 shares at the same C$0.51 price.

Noble Capital Markets has doubled its target price and maintained an Outperform rating on Gevo Inc (NASDAQ:GEVO) a day after the “low carbon” fuel company won the largest contract in its history. The research-driven investment bank increased its 12-month target to $2.40 share from $1.20.Gevo announced the supply agreement with a subsidiary of Trafigura Group Pte Ltd, one of the world’s leading independent commodity trading companies. Gevo will deliver 25 million gallons/year (MPGY) of renewable hydrocarbons, the majority of which is expected to be low-carbon premium gasoline with a smaller portion of the volume for sustainable aviation fuel, starting in 2023. As a result of the Trafigura news, Gevo stock closed up by a whopping 233% to $1.82 in New York on Thursday, on trading volume of more than 991 million shares.

In other company news, Gevo has reached an agreement to move forward with a direct at-the-market offering worth roughly $50 million. The Colorado-based company is offering more than 38.4 million shares of common stock and equivalents at a price of $1.30 per share. The deal is expected to close on August 25, the company said. Gevo said it plans to put the money toward working capital and general corporate purposes, including the repayment of debt. 

Canntab Therapeutics Limited (CSE:PILL) (OTCQB:CTABF) has reached a pair of binding agreements to buy $1.3 million worth of cannabis processing equipment and leasehold improvements for its Markham, Ontario facility. The first deal will see the company pay C$1 million by issuing nearly 2 million shares of stock at a price of C$0.51 per share. The seller of the equipment is CMAX Technologies Inc, a related party of which Canntab CFO Richard Goldstein is the sole director and officer. A deposit of 200,000 shares will be paid to CMAX within two weeks of the purchase agreement being executed. The company also has agreed to purchase $300,000 in cannabis processing equipment from Pharmagenerics Solutions Inc, which it will pay for by issuing 588,235 shares at the same C$0.51 price. 

Medexus Pharmaceuticals Inc (CVE:MDP) (OTCQX:MEDFX) has begun trading on the OTCQX Best Market under its new ticker “MEDXF,” effective August 20. The company’s former ticker symbol was “PDDPF.” It upgraded to OTCQX from the OTCQBVenture Market on August 4.

Versus Systems Inc (CSE:VC) (OTCQB:VRSSF), a gaming media company, has added longtime media executive David Spiegel to its advisory board, the company announced Friday.  At New York Media, the publisher of New York Magazine and other publications, Spiegel served as head of sales and facilitated the company’s merger with Vox Media, where he served as VP of sales. Before that, he was chief revenue officer at Inverse, a Generation Z tech and science publisher acquired by Bustle Digital Group. He also previously worked as senior vice president of sales and brand strategy for CNN’s “Great Big Story” online column, and was a founding member of Buzzfeed’s sales team.

Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) has updated investors further on construction of the new portal at its historic Kenville gold mine project in British Columbia and also reported on new metallurgical test results on material from the site. The firm is currently refurbishing the mine's existing portal so it can access mineralization, which was outlined in the resource estimate of 2009. The firm also said it had received a final report on metallurgical test work completed by a lab in Langley in the Canadian province, which showed high-grade recovery and that Kenville material is suitable for gravity-flotation processing at a facility such as the nearby Greenwood mill of Golden Dawn Minerals.

NetCents Technology Inc (CSE:NC) (OTCQB:NTTCF), a leading cryptocurrency payments technologies company, has announced the addition of Dr Claude Schmidt to its Advisory Board. Dr Schmidt is currently a member of the investment committee of Delfin Investment AG in Zug, Switzerland. Delfin is focused on providing multi-asset investment products to Sovereign Wealth Funds, Foundations and Endowments. Dr Schmidt is also on the board of the Schwyzer Kantonalbank which carries a triple-A rating. Previously, Dr Schmidt was a member of the Private Wealth Management team within Goldman Sachs Bank AG. He joined Goldman as a managing director in 2012. Prior to joining Goldman Sachs, Dr. Schmidt was a managing director at UBS, most recently as co-head of the Global Family Office Group in EMEA for UBS Wealth Management.

Phunware Inc (NASDAQ:PHUN) said it has launched a comprehensive global reseller program to activate and support the selling of its enterprise mobile software through worldwide hardware, software, system integrator and carrier channels. The group said channel partners will be taken through a five-step process to resell its multiscreen-as-a-service (MaaS) platform; sign up formally as a Phunware Partner; receive access credentials for MaaS; finalize marketing and sales packages associated with MaaS stock-keeping units (SKUs), certify and train sales and sales engineering personnel on selected SKUs, and launch business development, sales and go-to-market strategies with Phunware in support. Phunware said by reselling its platform, its partners will be able to achieve “scalable competitive advantages in healthcare, retail, residential, corporate campus, hospitality, media and entertainment, advocacy and politics and aviation environment”.

Power Ore Inc (CVE:PORE) has said it will close a private placement to raise $925,000. The company said the placement includes around 4.68 million flow-through units at a price of $0.09 each to raise $421,589, with each unit consisting of one flow-through common share and one half of one common share purchase warrant. The placement also includes 6.7 million units at a price of $0.075 each to raise proceeds of $503,410, with each unit consisting of one common share and one half of one common share purchase warrant. Power Ore also said its chief executive Stephen Stewart is purchasing around 4% of the shares issued in the offering.

Hillcrest Petroleum Ltd (CVE:HRH) (OTCMKTS:HLRTF) is looking to broaden its business horizons and has struck a financial and advisory services agreement with an unnamed New York-based firm. The agreement has a term of one year at a cost of US$15,000 per quarter. "Hillcrest intends to broaden our current, primarily Canadian, business network and believes the relationship with our New York advisors will greatly assist in that effort," Don Currie, the Hillcrest CEO said in a statement.

Medallion Resources Ltd (CVE:MDL) (OTCPINK:MLLOF) has upsized its previously announced placing by C$100,000 to C$1.6 million due to strong demand. In a statement, the group said the revised placement is for up to around 10.66 million units at a purchase price of C$0.15 each for gross proceeds of up to C$1.6 million. Vancouver-based Medallion has developed a proprietary process to produce rare-earth elements from monazite, a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining. The proceeds from this offering are intended to be used for competing trade-off studies, initial plant engineering, a techno-economic study, pilot plant planning, and working capital.

WeedMD Inc. (CVE:WMD) (OTCQX:WDDMF) (FSE:4WE), a federally-licensed producer and distributor of medical-grade cannabis, has announced that it will file its financial statements and management’s discussion and analysis for the quarter ended June 30, 2020, after the market close on September 23, 2020. Due to unforeseen circumstances and logistical challenges resulting from the coronavirus (COVID-19) pandemic, WeedMD’s auditors requested a date postponement within the blanket 45-day exemption window provided by the regulators. As a result, WeedMD will host a conference call with management on Thursday, September 24, 2020, at 10.00am Eastern Time to report the financial results for the period. The call will be hosted by Angelo Tsebelis, CEO of WeedMD and its CFO Lincoln Greenidge. Management will be available for analyst and media questions following opening remarks. Conference call Dial-in Numbers: Canada/USA: 1-800-319-4610; International Toll: 1-604-638-5340. Replay Dial-in details: Canada/USA: 1-800-319-6413; International Toll: 1-604-638-9010; replay access code: 5146; available after 12.00pm Eastern Time, until October 24, 2020.

Antibe Therapeutics Inc. (CVE:ATE) (OTCQB:ATBPF) has announced the results of its annual and special meeting held on Thursday, which saw all resolutions outlined in the management information circular approved. These included the election of Roderick Flower, Amal Khouri, Daniel Legault, Walt Macnee, John Wallace and Yung Wu as directors; the re-appointment of Ernst & Young as Antibe's auditors; amendments to the group' s Restricted Share Unit Plan and Stock Option Plan; and the option, at the discretion of the company’s Board, to consolidate Antibe’s common shares at a ratio within a predetermined range at any time prior to August 20, 2021.

Ximen Mining Corp (CVE:XIM) said the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement, announced on August 19, 2020, which will see the issue of 1,667,532 flow-through shares at a purchase price of 60 cents each, together with 1,667,532 share purchase warrants with an exercise price of 75 cents for a two-year period, with 19 placees.

Aequus Pharmaceuticals Inc (CVE:AQS) said it has closed its financing pursuant to its prospectus supplement dated July 29, 2020, to a base shelf prospectus dated September 16, 2019, which was filed with and accepted by the TSX Venture Exchange, and filed with and receipted by the securities commissions of each of the provinces of British Columbia, Alberta, Manitoba, Saskatchewan and Ontario. The TSX Venture Exchange has been advised that the offering closed on August 6, 2020, for gross proceeds of $2.5 million and comprised 31.25 million units at a price of 8 cents each, with each unit consisting of one common share of Aequus and one-half of one common share purchase warrant, where each whole warrant entitles the holder to acquire one additional share at a price of 12 cents per common share for a period of 36 months following closing.

OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for 10,000 US and global securities, has announced that AAC Clyde Space AB (NASDAQFIRSTNORTH:AAC) (OTCQX:ACCMF), a company specializing in advanced nanosatellite spacecraft, mission services, and reliable subsystems, has qualified to trade on the OTCQX Best Market. Trading on the OTCQX Market offers companies efficient, cost-effective access to the US capital markets.  "We are pleased to welcome AAC Clyde Space AB, as the first Nasdaq First North Premier Growth Market listed company to cross-trade on the OTCQX Best Market," said Jason Paltrowitz, executive vice president of Corporate Services at OTC Markets Group. "The OTCQX Market supports international companies seeking to strengthen visibility and transparency in the U.S. public market. Trading on the Nasdaq First North Premier Growth Market in Stockholm and on the OTCQX Market in the U.S. will enable AAC Clyde Space AB to efficiently build global investor awareness." To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Luis Gomes, AAC Clyde Space AB CEO commented: "We are very excited to join the OTCQX Best Market, making it easier for US investors to join us in our bid to lead the NewSpace revolution. AAC Clyde Space AB operates in a fast growing, high technology market expected to grow exponentially in the coming years. We see many opportunities in the US market for our highly reliable advanced solutions, and for our Space as a Service offerings. Having a strong US investor base would help us in capturing such opportunities."

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