logo-loader

NA Proactive news snapshot: Energy Fuels, BevCanna, Global Energy Metals, Auryn Resources UPDATE …

Last updated: 17:00 08 Sep 2020 EDT, First published: 10:00 08 Sep 2020 EDT

Newspapers and laptop

Energy Fuels Inc (NYSEAMERICAN:UUUU) (TSE:EFR), the largest uranium mining company in the US, announced Tuesday that it will redeem the remaining C$10.4 million of its outstanding convertible debentures on October 6, at which point the company will be debt free. The payment represents the principal amount of the debentures, the company said. The debentures are redeemable for 101% of that amount, in addition to accrued and unpaid interest. The move comes roughly a quarter before the debentures due date, December 31. "Energy Fuels is proud to announce that we are paying off the remainder of our debt and that we will be debt free on October 6, 2020," CEO Mark Chalmers said in a statement. 

BevCanna Enterprises Inc (CSE:BEV) (OTCMKTS:BVNNF) has completed its previously announced acquisition of natural health e-commerce group Naturally Pure Therapy Products Corp in a C$6 million deal, which will enable it to launch its hemp-based CBD drinks into the US and other global markets. "We're pleased to have completed the transaction as quickly as we did" said John Campbell, Chief Strategy Officer at BevCanna in a brief statement on Tuesday. "The Pure Therapy products will be an excellent addition to our portfolio and we'll be able to leverage the powerful direct sales platform to retail our own BevCanna hemp-based CBD beverages to a large and growing customer base. We see this as an excellent entry point into the burgeoning U.S. and the worldwide market." Bevcanna has said Pure Therapy is a proven e-commerce brand with an extensive list of over 22,000 customers to which it sells a range of natural health products, including nutraceutical and hemp-based cannabidiol products.

Global Energy Metals Corporation (CVE:GEMC) (OTCQB:GBLEF) has closed on the first tranche of private placement that raised $503,250 to advance its battery metals development aims in Nevada. In a statement Tuesday, the company added that it will raise an additional $100,000 in a second and final tranche. GEMC upped the offering from 4 million to 4.8 million units at $0.125 apiece. The company plans to use the net proceeds to fund its previously announced acquisition of an 85% interest in the Lovelock and Treasure Box projects, two highly prospective battery mineral projects in Nevada with strong enrichment in nickel, copper and cobalt. The money also would fund business development and working capital purposes.

Auryn Resources Inc (TSE:AUG)(NYSE AMERICAN:AUG) announced Tuesday that it has filed and commenced mailing of its management information circular, proxy form and related materials for the annual and special meeting of securityholders to be held on October 5, 2020. The meeting is being convened to approve the proposed transactions to spin out its Peruvian mineral projects to Auryn shareholders via two new companies and then acquire 100% of listed Eastmain Resources Inc (TSX:ER). 

Predictiv AI Inc (CVE:PAI) (OTCMKTS:INOTD has released behind-the-scenes video footage of its AI-enabled, thermal medical grade sensor temperature screening system ThermalPass ( www.thermalpass.com) during a recent business open house to showcase performance testing. ThermalPass is designed to mitigate the spread of COVID-19 and other contagions in high-traffic locations. After a month of rigorous pressure testing by acclaimed aerospace engineering firm Makel Engineering Inc whose client roster includes NASA and Lockheed Martin, ThermalPass debuted its unique competencies and fever-reading accuracy for prospective customers and investors under real-world conditions.

Karora Resources Inc (TSE:KRR) said it has discovered a new gold footwall zone and high grade nickel intercepts at its Beta Hunt operation in Western Australia. Gold intersections from the northern end of the Western Flanks resource on the project include values of 6 grams per ton (g/t) gold over 5.3 metres and 7 g/t gold over 8.6 metres, with additional intersections of 2.4 g/t over 23.3 metres and 4.6 g/t over 9.4 metres. The results indicate the discovery of a new, parallel footwall zone of mineralization that extends over 160 metres of strike and 50 metres high atop of the existing resource, the company said. The zone also has potential for extension a further 50 metres up-dip and along strike to the north.

ElectraMeccanica Vehicles Corp (NASDAQ:SOLO), a designer and manufacturer of electric vehicles, has released the first photos and video footage of a behind-the-scenes look at current production of SOLO EV production on the assembly line. Last month, ElectraMeccanica announced the commencement of production of the SOLO EV through its manufacturing partner and strategic investor, Zongshen Industrial Group.  The company has targeted late November/early December for initial deliveries to those on its pre-order list before ramping production to meet increasing demand. The first deliveries will be to the early adopters/reservation holders in the Western US where the company has an existing and expanding retail footprint.

Duos Technologies Group Inc (NASDAQ:DUOT) revealed on Tuesday that its operating subsidiary Duos Technologies has clinched an initial contract from an existing Class 1 railroad customer to upgrade its work at a Railcar Inspection Portal (RIP) aimed at expanding automated mechanical inspections. The Jacksonville, Florida-based company said the total contract is valued at around $1.3 million and will be completed before the end of the year. In addition to the base contract value, the deal includes payments through 2022 for “recurring service, maintenance and spare parts.” The upgrade is aimed at creating “new perspectives" within the current system to identify specific railcar inspection points which can be monitored by channeling artificial intelligence (AI) applications being developed by the client and integrated into the Duos Centraco platform.

O3 Mining Inc (CVE:OIII) has unveiled the results of a preliminary economic assessment (PEA) of its Marban project at the Malartic property in Quebec, which underlines the potential for the company that owns it to become a "major North American gold producer". The study, carried out by Ausenco Engineering, showed Marban to be a profitable, lost cost project, with potential to further expand the mine life. It envisages an 11,000 tonnes per day (tpd) open pit with production spanning 15.2 years, with a positive after-tax internal rate of return (IRR) of 25.2% and an after-tax net present value (NPV) of C$423 million.

GlobeX Data Ltd. (OTCQB:SWISF) (CSE:SWIS) has confirmed that despite the economic slowdown in many of the countries in which it has distribution agreements due to the coronavirus (COVID-19) pandemic, sales of its Sekur cybersecurity product will meet or beat the group’s internal targets for 2020. The company, the leader in Swiss-hosted cybersecurity and Internet privacy solutions for secure data management and secure communications, noted that it has been able to compile an estimate of sales for Sekur for the remainder of this year, after discussions with several of its distributors in Canada, USA, Latin America, the Bahamas, and South Asia. It said that although most markets are still recovering from the COVID-19 pandemic economic damages, sales are expected to attract a minimum of 1,000 paid users and reach a potential of 5,000 paid users in 2020, depending on economic factors.

Victory Resources Corporation (CSE:VR) (OTCMKTS:VRCFF) (FWB:VR61) announced that it kicked off the first phase of its work program for its Mal-Wen property in British Columbia, which is designed to advance to drilling as soon as permitting allows. The Vancouver-based firm’s Mal-Wen copper target consists of four wholly-owned contiguous claims for almost 2,000 acres. It lies 30 kilometers southeast of the city of Merritt in the Nicola Valley in the south-central interior of British Columbia. The work program entails Victory exploring for a gold-copper alkalic porphyry deposit on its Mal-Wen property. While there are current drill targets on the property, magnetometer and IP surveys have never been done over the ground between the two main showings consisting of The Mal and the Wen prospects. The firm said Phase 1 will begin immediately and will define existing drill targets and locate new ones. It will consist of a magnetometer survey, geological mapping and sampling, as well as permitting towards a drill program.

EXMceuticals Inc (CSE:EXM) (FRA:A2PAW2) said it has secured a coronavirus (COVID-19) research & development (R&D) focused grant from the European Union (EU) and the Portuguese government in what it said was a “landmark event” for the company. The biosciences group, which specializes in unique cannabinoid formulations, said a consortium led by EXMceuticals Portugal Lda, operating under the project name ‘BioBlockCOVID’ and consisting of EXMceuticals Portugal Lda, Cosmetek Lda, and the Universidade de Coimbra, has been awarded €302,000 by the European Regional Development Fund (ERDF) and the Portuguese government to study and develop disinfectants to combat SARScoV-2, the virus that causes COVID-19.

PreveCeutical Medical Inc (CSE:PREV) (OTCQB:PRVCF) announced Thursday that it has completed a successful rodent model of its opioid-replacement pain-relieving drug. The model is part of an analgesic (read: pain relief) program the company launched in 2018 to develop peptide-based therapeutics for moderate-to-severe pain and inflammation. Peptides are made up of short chains of amino acids, which themselves are the building blocks of proteins. In rodents, the peptides demonstrated analgesic activity at relatively low doses with effects lasting for up to two hours, the company said. Additionally, the peptides did not affect inflammation in the pain model, suggesting their effects were associated with an opioid-like analgesic effect.

Thoughtful Brands Inc (CSE:TBI) (OTCQB:PEMTF) (FRA:1WZ1) announced Tuesday the formation of its joint venture with Franchise Cannabis Corp to sell and market Franchise-manufactured CBD, hemp and cosmetic products in the EU, Switzerland, Norway and the UK. The company said both parties will share equal ownership in the joint venture. Franchise will manage procurement and fulfillment of customer orders from its European manufacturing facilities. Thoughtful Brands will provide marketing and eCommerce operations infrastructure in the JV territory. Franchise is a leading European-focused cannabis and pharmaceutical distribution company based in Germany with two Good Distribution Practices (GDP) certified distribution facilities, exporting to over 18 countries and currently serving a network of over 1,500 pharmacies within Germany for medical cannabis sales.

Mirasol Resources Ltd (CVE:MRZ) (OTCPINK:MRZLF), the project generator focused on the Americas said it has now inked a definitive deal to option out its Nord project in Chile It was signed with Encantada SpA (Encantada), an affiliate of Mineria Activa, a Chilean, mining-focused, private equity group with more than US$150 million in assets under management. "We are pleased to close this transaction after the successful completion of the technical and legal due diligence," said Mirasol's CEO Norm Pitcher in a statement on Tuesday. "Mirasol has monetized its interest in a non-core project for up to US$3 million cash payments and the creation of a new 2% NSR royalty on prospective exploration claims located near a development project."

Gevo Inc (NASDAQ:GEVO) (FRA:ZGV3), which is developing renewable alternatives to petrol, is well-capitalized and continues to advance its project financing efforts to establish production facilities so it can fulfil contracts for its green fuels. In a business update, the Colorado-based company said the facilities were needed to provide the product required under existing and expected, future take-or-pay, off-take agreements. Earlier this year, Gevo hired investment giant Citigroup Inc (NYSE:C) to lead the process to procure the capital needed to build up to three production facilities. Gevo estimates the project capital cost would be around $700 million, including $200 million of equity and $500 million of debt. It reckons it will take around a year to close the financing for the first project.

Willow Biosciences Inc (TSE:WLLW) (OTCQX:CANSF) (FRA:3D7) told investors it is to receive Canadian government funding to help it advance its rare cannabinoids towards commercialization. In a statement, Vancouver-based Willow said it will receive advisory services and conditional funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) supporting a research project to advance the production of its varin cannabinoids, using the firm's biosynthetic platform.

XPhyto Therapeutics Corp (CSE:XPHY) (OTCQB:XPHYF) (FSE:4XT) has released an update on the development of its rapid coronavirus (COVID-19) screening test. The bioscience company said its exclusive diagnostic partner, 3a-Diagnostics GmbH, is developing a rapid, disposable, point-of-care lateral flow screening test to detect COVID-19 viral RNA from patient saliva samples and nasal and throat swabs.

Biocept Inc (NASDAQ:BIOC) (FRA:B002) has reached an agreement with Health Net Federal Services, making the firm an in-network provider of the company’s Target Selector liquid biopsy oncology platform. Health Net provides healthcare services to the TRICARE West (TriWest) regional network, which consists of roughly 3 million US military members and their families. Coverage is available in 21 states. "It's an honor to become a provider for TriWest and to support the healthcare needs of our country's military service members and their families," CEO Michael Nall, President said in a statement.

Phunware, Inc. (NASDAQ:PHUN),  a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, said it has launched enhanced mobile loyalty and engagement features for its Multiscreen-as-a-Service (MaaS) customers worldwide. It pointed out that many of these enhanced mobile features are now available publicly as showcased in the Trump-Pence 2020 “Keep America Great” mobile application portfolio upgrades on iOS and Android, which are designed, built, managed and supported by the company.

Black Iron Inc (TSE:BKI) (OTCMKTS:BKIRF) (FRA:BIN) is launching a competitive bid process for a guaranteed share of production from its Shymanivske iron ore project in response to “substantial” investor interest. The Toronto-based company announced Tuesday that it is seeing an increase in interest from investors looking to secure iron ore, including big names such as Glencore PLC (LON:GLEN) (OTCMKTS:GLCNF) (JSE:GLN) and several new steel mills. In exchange for an offtake agreement, the company is asking investors to help fund the estimated US$450 million construction of the project in Ukraine.

Co-Diagnostics Inc (NASDAQ:CODX) (FRA:C97) announced Tuesday that it has entered into an agreement with Arches Research Inc to expand Arches' COVID-19 testing services using Co-Diagnostics' Logix Smart COVID-19 test kit. Arches Research, a CLIA laboratory and subsidiary of Polarity TE Inc (NASDAQ:PTE), began using Co-Diagnostics' tests for its customers earlier this year, according to a statement. Co-Diagnostics said the announcement follows news last week of additional, independent third-party validation of its COVID test, supporting its performance characteristics and value in helping communities, schools, and workplaces to re-open safely.

Lingo Media Corporation (CVE:LM) (OTCMKTS:LMDCF) (FRA:LIMA) has announced the election of Laurent Mareschal to its board of directors at the company's annual meeting of shareholders held in Toronto on September 3, 2020. The EdTech company, which is 'Changing the way the world learns languages' through innovative online and print-based technologies and solutions, noted that Mareschal brings more than 20 years of financial management experience at Scotiabank, including financial reporting and mergers and acquisitions. Amongst his various assignments, he was CFO of Scotiabank's Capital Markets division delivering best in class financial results globally during the Global Financial Crisis.

Mawson Gold Ltd (TSE:MAW) (OTCPINK:MWSNF) has given its Finnish subsidiary a management makeover ahead of a resource update for its Rajapalot gold-cobalt project this month and in the light of the coronavirus (COVID-19) pandemic. The group's environmental director Noora Ahola takes on the role of managing director at Mawson Oy, while experienced mining engineer Bouke van 't Riet becomes non-executive technical director at the subsidiary. Tapani Hyysalo becomes chief operating officer (COO) and continues as a board member of Mawson Oy, while Michael Hudson also remains a board member and chairman of Mawson Oy. Dr Nick Cook has been appointed as chief geologist for Mawson's global gold project portfolio.

BetterLife Pharma Inc. (CSE:BETR) (OTCQB:BETRF) (FRA:NPAT) said it has retained Hybrid Financial Ltd. to provide marketing services to the company. The group said Hybrid has been engaged to heighten market and brand awareness for BetterLife and to broaden the company's reach within the investment community.  Dr Ahmad Doroudian, CEO of BetterLife. commented: "BetterLife has ambitious plans and a bright future. As we move forward with our pipeline of treatments, in particular our upcoming trials for AP-003 (an interferon-based therapy that has shown promise in the fight against Covid-19) we recognise the importance of connecting with the investment community and telling our compelling story with the aim of encouraging a stronger and more efficient market for our shares.’’ Hybrid has been engaged by the company for an initial period of six months starting September 4, 2020, and then shall be renewed automatically for successive three month periods thereafter, unless terminated by the company in accordance with the Agreement. Hybrid will be paid a one-time fee of $50,000, plus applicable taxes, and a monthly fee of $22,500, plus applicable taxes, during the initial term.

Hillcrest Petroleum Ltd. (CVE:HRH) (OTCMKTS:HLRTF) has announced that the company anticipates applying to the TSX Venture Exchange to delist its common shares and it intends to apply to list its shares on the Canadian Securities Exchange (CSE). The company believes listing on the CSE will deliver additional value to the shareholders as a result of the company being subject to reduced filing fees, lower compliance and legal costs and other fees. The company said it will also have increased flexibility to expand in multiple areas of operation. Completion of the listing of the shares on the CSE is subject to the company's application to delist being accepted by the TSXV, and acceptance of the company's application to list by the CSE.

Nextleaf Solutions Ltd. (CSE:OILS) (OTCQB:OILFF), based in Vancouver, British Columbia, is Canada's most innovative cannabis extractor focused on developing technology for extracting and distilling cannabinoids, has announced that its CFO and director, Charles Ackerman, will present live at VirtualInvestorConferences.com on September 10. , 2020, at 2.00pm to 2.30pm. This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event. LINK: https://bit.ly/3fLBL3m

GR Silver Mining Ltd. (CVE:GRSL) (OTCQB GRSLF) has said it will hold its annual general meeting of shareholders of the company on September 11, 2020, at 10.00am (PST). The meeting will be held at the offices of the company. However, due to health concerns relating to the novel coronavirus pandemic and to comply with government and public health directives, the company is urging all shareholders to vote by proxy in advance of the meeting and is discouraging physical attendance in person at the meeting. The meeting will not be open to the general public and will be limited to registered shareholders and duly appointed proxyholders only. Shareholders who wish to access and ask questions can do so by phone or audio-only webcast using the details provided. An audio replay of the meeting will also be available until October 13, 2020. Zoom Meeting Register in advance for this meeting via the following link: https://zoom.us/meeting/register/tJ0tf-mgrTsuGNJp6QyP0TlrIvBVKZCE7VIT

AIM ImmunoTech Inc. (NYSEAMERICAN:AIM) has said that Thomas K. Equels, its CEO will participate in a virtual panel titled, "New Approaches to COVID-19: Hidden Breakthroughs," being held on Thursday, September 10, 2020, at 1.00pm ET. The virtual panel discussion will also include: Dr David Jin, president and CEO of Avalon Globlocare Corp. (NASDAQ:AVCO); Jeff Wolf, CEO of Heat Biologics, Inc. (NASDAQ:HTBX); Dr Jennifer Bath, CEO of ImmunoPrecise Antibodies Ltd. (TSX-V:IPA) (OTCQB:IPATF) (FSE:TQB2); and Vered Caplan, CEO of Orgenesis Inc. (NASDAQ:ORGS). The event brings together executives from leading biopharmaceutical companies to discuss how their companies are helping address the coronavirus (COVID-19) pandemic. The panel will be moderated by broadcast journalist Christine Corrado of Proactive Investors. Investors interested in attending the event can register at: https://zoom.us/webinar/register/8215990551540/WN_YFe8n6dQSm6mpgG3iWfF-w.

OTC Markets Group Inc. (OTCQX:OTCM), operator of financial markets for over 11,000 U.S. and global securities, has announced that Unigold Inc. (CVE:UG) (OTCQX:UGDIF) (FSE:UGD1), a growth-oriented, junior natural resources company, has qualified to trade on the OTCQX Best Market and today upgraded from the OTC Pink market. Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their US investors.  For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the US To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. "We are pleased to meet the criteria for upgrading from the Pink market to trading on the OTCQX," said Joseph Hamilton, chairman & CEO of Unigold. "This will facilitate trading for our U.S. shareholders, and in conjunction with our Frankfurt Stock Exchange listing, our investors can now find corporate information and pricing quotes on multiple platforms."

Golden Arrow Resources Corporation (CVE:GRG) has reminded all shareholders that its upcoming Annual General & Special Meeting will be held on September 17, 2020, at 10.00am (Vancouver Time). As there will not be an in person meeting this year in light of ongoing concerns related to the spread of coronavirus (COVID-19), in order to mitigate potential risks to the health and safety of the company's shareholders, employees, communities and other stakeholders, it will be holding the meeting entirely by teleconference, using the following numbers: 1-800-319-4610 in North America and 1-604-638-5340 for International calls.

BenevolentAI advances novel ulcerative colitis treatment through Phase 1a trial

BenevolentAI (OTC:BAIVF) chief scientific officer Dr Anne Phelan joins Proactive's Stephen Gunnion with positive safety data from the Phase 1a, first-in-human, clinical study of BEN-8744 in healthy volunteers. Phelan explained that BEN-8744 is a potent, selective PD10 inhibitor, uniquely...

1 hour, 5 minutes ago