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NA Proactive news snapshot: Duos Technologies Group, Esports Entertainment, Lingo Media, Chesapeake Financial, Thoughtful Brands UPDATE ...

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

Gevo Inc - NA Proactive news snapshot:

Duos Technologies Group Inc (NASDAQ:DUOT) has named Charles Ferry, a defense contracting expert and longtime former US Army service member, as its new CEO, the company said. Ferry brings extensive leadership experience in the energy and defense contracting industries, the company said, and he spent 26 years of active duty service in the US Army. He most recently served as CEO of APR Energy, a global fast-track power company, where he oversaw 800 employees, 17 power plants and $325 million in annual revenue. Ferry replaces founder and Chairman Gianni Arcaini, who will continue to serve on the board of directors. 

Esports Entertainment Group Inc (NASDAQ:GMBL) and its partner Allied Esports have announced 14 of the 16 teams from around the world that will compete for €50,000 ($59,000) in prize money in the inaugural Counter Strike: Global Offensive (CS:GO) online tournament beginning Monday. The lineup features the top-ranked CS:GO teams from five countries, including Belarus, Bulgaria, Norway, Romania and Ukraine, and seven teams ranked in the top 50 globally. The remaining two teams will be announced next week. Allied Esports’ VIE.gg CS:GO Legend Series format will include a group stage featuring four groups of four teams competing in best-of-three play, with the top two teams from each group advancing to the playoffs. The four first-round playoff matchups will be best-of-three, while the semifinals and finals will be best-of-five.

Lingo Media Corporation (CVE:LM) (OTCQB:LMDCF), the education technology company, boosted its second-quarter revenue and profit as educators adapted to virtual learning solutions in the face of the coronavirus pandemic. The Toronto-based company posted revenue of C$977,000 for the three-month period ended June 30, 2020, up from the $895,000 it posted a year prior. Net profit came in at C$624,000, or $0.02 per share, compared to the $431,000, or $0.01 a share, it saw in 2Q 2019. During the latest quarter, Lingo enhanced its online English language learning capabilities with new reporting functionality and an improved chat feature, it told shareholders. The firm also secured two sales contracts in Japan – its first in the country – and sales contracts with two Colombian universities.

Chesapeake Financial Shares Inc (OTCQX:CPKF), which operates as the bank holding company for Chesapeake Bank, said its community bank had launched a campaign to support small business owners on Main Street as the coronavirus (COVID-19) pandemic persists in the US. During the health crisis, Chesapeake Bank said it has thrown a “financial lifeline” to existing customers and local small businesses through loan payment deferrals. It has also streamlined access to Paycheck Protection Program (PPP) loans through the US Small Business Administration. “According to the SBA, 99.5% of Virginia’s businesses are small businesses. They employ 47.1% of Virginia’s workers,” said Chesapeake Bank CEO Jeff Szyperski. “Those businesses define Main Street in rural small towns like Kilmarnock, Mathews, and Gloucester, suburban communities like Williamsburg, and even urban centers like Richmond. Big things happen when small business thrives. That’s our focus. That’s why community banks matter.”

Thoughtful Brands Inc (CSE:TBI) (OTCQB:PEMTF) (FWB:1WZ1), the renamed Mota Ventures, said it has launched Ecommerce Tech LLC, a subsidiary that will serve as a comprehensive operational engine for all of its e-Commerce ventures. The firm, which researches, develops, markets, and distributes natural health products through various brands in North America and Europe, said on August 21, Ecommerce Tech acquired the rights to a bespoke software platform which in turn has facilitated more than C$350 million in consumer transactions and paved the way for Thoughtful Brands to “capture previously unrealized value from the products it launches in the online natural health market”. The subsidiary is already providing immediate value to the company's Nature’s Exclusive and Sativida CBD products. 

Gevo Inc (NASDAQ:GEVO), the “low-carbon” fuel company, said Friday its intellectual property is worth $412 million. The company said that Peak Value IP LLC completed an investment valuation of its IP, including trade secrets, know-how, patents and patent applications across the world that can be licensed and monetized by Gevo. Gevo said that Peak Value used an “Income Approach” to estimate the value, focusing on discounted projected cash flows from direct Gevo-sponsored projects and potential out-licensing within a renewable biofuel production market. “I’m pleased to see our IP valuation increasing,” said CEO Patrick Gruber in a statement. “Our products work, our technology works, our patents cover our proprietary technology. I’m looking forward to completing the project financing of our large scale production facilities and getting large plants built.”

Aequus Pharmaceuticals Inc (CVE:AQS) (OTCQB:AQSZF) delivered its second-highest quarterly revenue ahead of its planned launch of the Evolve dry eye product line. The Vancouver-based firm posted C$543,000 in revenue in its second quarter ended June 30, 2020, compared to C$397,000 it generated during the same period a year earlier. In a statement, the company chalked up its total year-to-date revenue of just over C$1.1 million to increased market share of its promoted ophthalmic and transplant products.

Bragg Gaming Group Inc (CVE:BRAG) (OTC:BRGGF), an online gaming solutions provider, swung to a profit and saw its revenue double in the second quarter thanks to a growing base of customers, according to financial results released after the bell Thursday. The company posted revenue of C$18.9 million in the three months ended June 30, more than double the C$9.2 million it made in the same period of 2019. Its adjusted EBITDA swung to a C$2.8 million gain from a loss of C$500,000 in the second quarter last year. “We’re extremely pleased with the substantial progress we’ve achieved so far in 2020,” Chairman Paul Pathak said in a statement. “We’ve delivered strong revenue and EBITDA growth and have made great strides in diversifying our revenues and reaching new audiences.”

Golden Arrow Resources Corporation (CVE:GRG) (OTCQB:GARWF) has kicked off diamond drilling at its Tierra Dorada gold project in Paraguay in a 500 metre (m) program, which is expected to last around one month. Local company MasterGold SA is carrying out the work at the Alvaro target sinking holes up to 20m depth to test near-surface prospects and delineate targets for deep drilling, the firm said in a statement on Friday. Sampling at Alvaro has already thrown up high grade gold, with results including 89.5 grams per ton (g/t) of the yellow metal and 61 g/t silver over a length of 0.93 metres.

GoviEx Uranium Inc (OTCMKTS:GVXXF) (CVE:GXU) said that under its share purchase option plan and following the completion of its annual general and special meeting of shareholders, it has granted incentive stock options to certain directors, officers, employees and a consultant to buy up to a total of 8.1 million Class A shares in GoviEx capital. The stock options are exercisable at a price of C$0.14 per share and will vest 25% on the date of grant and thereafter, 25% on each anniversary of the date of grant until fully vested. The options expire on August 27, 2025.

American Manganese Inc (CVE:AMY) (OTCPINK:AMYZF) updated Friday on progress on the proposed spin-out of some of its mining assets in British Columbia, as reported in July this year. It has now hired geoscientist Ron Parent to complete an NI43-101 report on its Rocher DeBoule property, which contains a past-producing high grade copper and gold mine. Work to be performed at the asset will include geological modelling, mapping, and mineral resource evaluation. The 2,421 acre target lies 10 kilometers (km) from Hazelton, BC and contains several occurrences over a 12km east/west direction, the firm has said previously. AMY also said Friday it was preparing to seek an interim court order to hold a special general meeting of shareholders, to approve a proposed plan of arrangement.

Mawson Gold Ltd (TSE:MAW) (OTCPINK:MWSNF) said it was making use of the temporary relief provided by the British Columbia Securities Commission due to the coronavirus pandemic to postpone filing its financial results for the year to end-May until September this year. The resource firm said in a brief statement it was "working diligently and expeditiously to make the 2020 annual documents available at its earliest opportunity, which is expected to occur on or about September 30, 2020". Mawson also confirmed that there have been "no material business developments" since the filing of its February 29, 2020 interim financial statements, that have not been disclosed by the company through news releases filed under its profile on SEDAR.

Aftermath Silver Ltd (CVE:AAG) (OTCQB:AAGFF) has upsized its previously announced private placing to C$15.6 million from C$12.5 million. In a brief statement, the junior explorer said it would now issue 24 million shares, up from 19.25 million, still at the same price of C$0.65 each. Well known Canadian investor Eric Sprott is taking part in the financing and will increase his investment to hold around 19.9% of Aftermath's shares after the closing of the placement, the firm said.

True Leaf Brands Inc (CSE:MJ) (OTCQX:TRLFF) provided Friday updates on the status of the filing of its operating and financial results for the fiscal year ended March 31, accompanying management's discussion and analysis, and related CEO and CFO certifications. At the same time, the company also is providing an update on the status of the filing of its operating and financial results for the first quarter ended June 30, accompanying management's discussion and analysis, and related CEO and CFO certifications. In a statement, True Leaf said it will continue to rely on BC Instrument 51-517 issued by the British Columbia Securities Commission (BCSC), which provides up to a 45-day extension for certain periodic filings normally required to be made by reporting issuers during the period from June 2 to August 31. The company estimates that it will file the annual filings on or before September 12 and the interim filings on or before October 13.

Alchemist Mining Inc (CSE:AMS) announced Friday that it has changed its auditor from Smythe LLP to Charlton & Company Chartered Professional Accountants. The former auditor resigned on August 24. In addition, in part due to circumstances related to the COVID-19 pandemic, the company said it will not be able to file its audited financial statements and other required annual filings by the deadline of August 31 and will be relying on the exemption provided in British Columbia Instrument 51-517 during the period from June 2 to August 31, which provides a temporary extension for completion of such filings for up to 45 days.

PowerOre Inc (CVE:PORE) said that the TSX Venture Exchange has accepted for filing documentation linked to its non-brokered private placement announced on August 25, 2020. The company has closed a placement with 6,912,134 non flow-through units at a price of $0.075 per unit for gross proceeds of $518,410, where each hard dollar unit consists of one common share and one half of one common share purchase warrant. The company said each whole warrant will entitle the holder to purchase one additional common share at a price of $0.14 for a period of 24 months from the date of issuance. 





Quick facts: Gevo Inc

Price: 9.71 USD

Market: NASDAQ
Market Cap: $1.5 billion

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Gevo 'in a terrific position' as it raises more than $321M to fund upcoming...

Gevo Inc (NASDAQ:GEVO) CEO Patrick Gruber tells Proactive it has closed on a registered direct offering that raised more than $321 million to fund projects and for general corporate purposes. Gruber says the group now has no debt, and $530 million worth of cash on the balance sheet, allowing the...

on 01/26/2021

10 min read