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NA Proactive news snapshot: Adastra Labs, Micron Waste, American Resources, Auryn Resources UPDATE …

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

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Your daily round-up from the world of Proactive

Adastra Labs Holdings Ltd (CVE:XTRX), a Health Canada-licensed cannabis processing and analytical testing services Company, announced Wednesday the completion of initial due diligence for the acquisition of set of cannabis concentrates brands from Phyto Extractions. Adastra, which last month signed a Letter of Intent (LO) that is non-binding, said negotiations are currently underway towards a definitive agreement for the acquisition of all of the assets of the private, British Columbia-based company. The terms will be announced once the definitive agreement is signed, the company said in a statement.

Micron Waste Technologies Inc (CSE:MWM) (OTCMKTS:MICWF) announced Wednesday that subsidiary Micron Technologies Inc has met the American Society for Testing and Materials F2100-19 Standard Specification for Performance of Materials Used in Medical Face Masks Level 3 certification requirements for its three-ply surgical face masks. Micron Technologies is currently utilizing the company's facility in Delta, British Columbia to manufacture the three-ply surgical masks, the parent company said in a statement. Among other technical specifications, the ASTM Level 3 Requirements ensure that medical face masks have a bacterial filtration efficiency of greater than or equal to 98%, which is the highest level of performance under the ASTM F2100 Standards which are recognized by both Health Canada and the US FDA. 

American Resources Corporation (NASDAQ:AREC) has agreed to a registered direct offering worth $13 million, the company announced Wednesday. The raw materials supplier will offer 5.3 million shares at a price of $2.50 per share. The offering is expected to close on Friday, the company said.  Kingswood Capital Markets, a division of Benchmark Investments Inc, is acting as exclusive placement agent for the offering. Also on Wednesday, the company announced the launch of a new subsidiary, American Rare Earth LLC, to organize, consolidate, evaluate and develop its owned portfolio of high-quality, low-cost rare earth mineral sites.

Auryn Resources Inc (TSE:AUG) (NYSEAMERICAN:AUG) and Eastmain Resources Inc (TSE:ER) jointly announced Wednesday that they received final orders from the British Columbia Supreme Court and the Ontario Superior Court of Justice, respectively, to move forward with their proposed merger. The deal will see Auryn acquire Eastmain after spinning out its Peruvian assets into two new companies and distributing the shares of those companies to Auryn’s shareholders.The move will create the new entity Fury Gold Mines Limited (TSE, NYSEAMERICAN:FURY), a developer of Canadian gold projects. Fury Gold will also receive the net proceeds of the previously completed C$23 million financing. The deal is expected to close on Friday. Shares of Fury Gold are expected to begin trading in New York on October 12 and in Toronto on October 13.

American Resources Corporation (NASDAQ:AREC) has launched a new subsidiary, American Rare Earth LLC, to organize, consolidate, evaluate and develop its owned portfolio of high-quality, low-cost rare earth mineral sites. The company built American Rare Earth through acquisitions of multiple mining complexes over the last few years, it said Wednesday. The new subsidiary has identified and ranked its first ten rare earth mineral beneficiation sites in terms of monetizable deposits. The ten sites located in eastern Kentucky, within Pike, Letcher and Knott counties, have already been evaluated and are being engineered to recover and concentrate the rare earth elements (REEs). Additional sites are being evaluated in Floyd and Perry counties.

Tetra Bio-Pharma Inc (TSE:TBP) (OTCQB:TBPMF), a leader in cannabinoid-derived drug discovery, talked about its commercial strategy to bring Dronabinol Soft Gel capsules, a cannabinoid-derived prescription drug aimed to treat AIDS-related anorexia and severe nausea and vomiting associated with chemotherapy to patients. In a statement on Wednesday, Tetra also said it will be submitting a marketing application to obtain a prescription Drug Identification Number (DIN) for the Dronabinol Soft Gel capsule in the fourth quarter of this year. The company expects the approval for the DIN to come through by the first half of 2021. Tetra has obtained the Canadian exclusive rights for Dronabinol Soft Gel capsules from a US strategic partner who will be manufacturing the drug.

District Metals Corp (CVE:DMX) revealed the results of its Leapfrog 3D modeling of mineralized zones at the Tomtebo property in Sweden on Wednesday, setting the basis for an upcoming drill program. The modeling outlined 33 polymetallic mineralized areas within four zones based on drill assays and historical drill holes, the company said in a statement. District said it will use the model to prioritize targets for a planned drill program at the historically producing property in early 2021.

Exro Technologies Inc (CVE:EXRO) (OTCQB:EXROF), a leading technology company that has developed a new class of power electronics for electric motors and powertrains, has announced third-party testing has proven its patented Coil Driver technology dramatically improves the performance of electric bikes. Motorino Electric, a Vancouver-based manufacturer and distributor of electric bikes and motorcycles, tested Exro's technology through 2020 against a standard electric bike in the field, Exro said in a statement Wednesday. Testing found that the Exro-enhanced electric bike saw its performance increase by more than 20% and up to 50% in climbing conditions, the company noted. As a result, Calgary-based Exro said it will now start negotiations on a commercial product for 2021.

Thunderbird Entertainment Group Inc. (CVE:TBRD) (OTCMKTS:THBRF) said Wednesday that it is partnering with Underknown, the creators of the Webby Award-winning social media brand What If to create a global television series. What If’s videos are viewed 250 million times a month and have garnered more than 6 billion views in nine languages around the world, Thunderbird noted. “This is an incredible brand, and social media hit,” said Mark Miller, president of Thunderbird Entertainment, in a statement. “In a world where curious people search for quality content, What If has built an incredible following that will ensure What If the TV show will also be a hit.” What If was conceived by the creative team at Underknown, headed by CEO Steve Hulford. The studio has produced more than 3,000 minutes of What If short-form content, such as “What If you got swallowed by a whale?”, “What If the Earth stopped spinning?”, and “What If the Earth was a moon of Jupiter?”

Silver Range Resources Ltd (CVE:SNG) unveiled “surprising” results from research conducted at the Tree River Conglomerate (TRC) on the project generator’s Tree River property in Nunavut. Field research conducted by a team from the University of Alberta in 2018 recovered three diamonds from the basal unit of the TRC, which contains “abundant” pyrite and is anomalous to high-grade gold, the firm said in a statement. In April 2020, Silver Range collected two panel samples of the TRC that returned assay results of 36.3 grams per ton (g/t) gold from the Main Zone and 0.3 g/t from the West Zone, suggesting that the gold in the TRC basal zone is syngenetic in origin, according to the company.

Loop Insights Inc (CVE:MTRX) (OCTMKTS:VRZPF) revealed that it has struck an agreement to acquire the intellectual property assets of Digital2Go Media Networks, related to global location data intelligence company Locally.io, in an all-stock deal. Vancouver-based Loop will pay $199,500 by issuing 554,166 Loop shares at a deemed price of $0.36 per share on the date of closing the acquisition, subject to escrow conditions. Additionally, the deal will have to be approved by both Locally's and Loop’s boards and win regulatory approval. The advanced technology company said Locally had established itself as a “premier provider” of location and human movement intelligence data. The Locally solutions help businesses connect their "physical and digital worlds" by providing mobile location insights and marketing integration capabilities. Locally has helped companies like Ford, BMW, Calvin Klein, Kroger, and Chipotle access deep consumer behavioral insights.

Mawson Gold Ltd (TSE:MAW) (OTCPINK:MWSNF) has made what it called a "strong" start to drilling in the famous Victoria goldfields in Australia, with the first hole at its Sunday Creek project hitting 15.2 metres (m) at 3.7 grams per ton (g/t) gold from surface. The drill campaign is part of the firm's ongoing 5 kilometre (km) program in the area. Sunday Creek, spanning over 10,000 hectares, is an epizonal-style gold prospect 56 kilometres north of Melbourne. "This result confirms the tenor of gold-mineralization found in poorly located reverse circulation drilling from the 1990s and tested what appears to be an unmined area immediately from the surface," said Michael Hudson, the chief executive of Mawson said in a statement.

Empower Clinics Inc (CSE:CBDT) (OTCQB:EPWCF) announced Wednesday that it's newly acquired and wholly-owned subsidiary Kai Medical Laboratory LLC has commenced a COVID-19 RT-PCR testing program for a Disney film and television production. The program is forecast to test 1,000 specimens over 30 days, Empower said in a statement.

Phunware, Inc. (NASDAQ:PHUN) said it has completed two contracts with Honeywell (NYSE:HON) for developing a mobile integrated Smart Workplace solution that interoperates with Honeywell Forge and HID Mobile Access. Honeywell Forge is a cloud-based software solution that leverages more than 100 years of expertise in asset and process control technology to improve the way companies collect, analyze and act on data from their operations. Honeywell Forge converts data from equipment, processes and people into intuitive, actionable insights to help customers optimize the efficiency, effectiveness and safety of their business. Founded in 1906, Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services, control technologies for buildings and industry and performance materials globally.

Bragg Gaming Group Inc. (CVE:BRAG) (OTCMKTS: BRGGF) said its subsidiary, ORYX Gaming has signed a distribution deal with Microgaming that will see ORYX’s content launched on the leading supplier’s aggregation platform. As part of the deal, ORYX’s RGS platform content featuring unique, proprietary and regionally customized games created by top development studios, including GAMOMAT, will be made available to Microgaming’s customers. Microgaming offers a leading content aggregation platform which provides operators with access to an extensive portfolio of premium content, supplied in more than 20 regulated global markets, enabling ORYX to significantly expand the reach of its games offering.

Hillcrest Petroleum Ltd. (CVE:HRH) (OTCMKTS:HLRTF) said it has expanded its executive team and engaged Ari Berger as chief technology advisor. In this role, the group said, Berger will oversee technology development and commercialization processes for Hillcrest's clean energy technology initiatives, including the ALSET Innovation joint venture. Hillcrest, through ALSET, has secured exclusive rights to license, market and monetize US patented technologies, as well as all future technologies created and produced by Potential Difference Incorporated (PDI). Berger is an expert in electric motor control technologies with specific expertise in system engineering. His latest position was as the chief technology officer at Exro Technologies Inc (CVE:EXRO), an electromotive technology company. He is the owner of NIG Systems Ltd, which services the most technically demanding customers in Israel and worked for Bental Industries, a leading motor manufacturer.

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) (FRA:N29) announced Wednesday that its InfernoAR platform has been selected by TEDxMalmö for its first-ever virtual event to be held December 12 in Malmö, Sweden. TEDxMalmö will replicate the traditional in-person events that the TED brand is known for, including TEDTalks, performances, entertainment, interactive content, Q&As and more, the company said. The event will be hosted entirely through NexTech’s InfernoAR platform to ensure the safety of participants, while also expanding its offering to the global community.

Next Green Wave Holdings Inc (CSE:NGW) (OCTMKTS:NXGWF) said it had achieved cash-flow positive status for seven consecutive months as it now looks to optimize operations and further improve output. In July, August and September this year, the cannabis grower and seller said it had operated with positive cash flow, and achieved both positive adjusted earnings before interest, tax and depreciation (EBITDA) and positive net income.

Great Bear Resources Ltd (CVE:GBR) (OTCQX:GTBAF) has hit more high-grade gold intercepts on the LP Fault at the company’s flagship Dixie project. The Vancouver-based junior released results on Wednesday from its ongoing drill program at the project that includes 18.6 grams per ton (g/t) gold over 19.3 metres (m) within a wider interval of 7 g/t gold over 54.6m. Great Bear has now drilled 100,000m over 180 holes at the LP Fault, a significant gold-hosting structure that has been seismically imaged to extend to 14 kilometres (km) depth that Great Bear has interpreted to have up to 18km of strike length.

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) announced Wednesday that its products, including the Purefarma and Pura Vida brands, are available for purchase on the Patient Choice online platform. Patient Choice is a Health Canada licensed virtual portal that gives medical cannabis patients across Canada the flexibility to buy products from a range of licensed producers and processors. Heritage joins other well-known suppliers on Patient Choice. “We’re thrilled to partner with Patient Choice to enable greater patient access and choice for medical cannabis,” said Heritage CEO Clint Sharples in a statement.

Duos Technologies Group Inc (NASDAQ:DUOT), through its operating subsidiary Duos Technologies Inc, said Wednesday it has been awarded a new contract from existing customer CN, a world-class transportation leader and trade-enabler. The agreement, which is effective immediately, includes complete North American service, support, maintenance and spare components sourcing for the seven Railcar Inspection Portals (RIP) currently in operation at CN. The total contract will be recognized as recurring revenue through 2022.

Todos Medical Ltd (OTCQB:TOMDF) said that it has struck an exclusive supply agreement with US mobile CLIA lab company Integrated Health LLC, which runs MOTOPARA Foundation’s biosafety level-3 Mobile Labs to battle the coronavirus (COVID-19) pandemic. According to the company, the Mobile Labs are initially capable of running 1,000 PCR tests per 8-hour shift and can scale to 3,000 PCR tests per 8-hour shift on process implementation. They are also capable of processing Rapid Antigen Tests and Rapid Antibody Tests as screening tools as part of overall testing protocols designed to improve testing capacity, said the company. MOTOPARA expects to scale production by end of the fourth quarter this year. “We have been working with Todos Medical for several months and believe they’ve put together the most comprehensive set of testing solutions that our organization needs to effectively execute our Mobile Labs strategy,” said MOTOPARA Foundation CEO Eric Canonico.

Nabis Holdings Inc (CSE:NAB) (OTCMKTS:NABIF) (FRA:A2PL) announced on Wednesday that Shay Shnet has stepped down as CEO, but will remain on the company’s board and help with an orderly transition. In 2018, Shnet co-founded the Canadian company that invests in multiple industries, including cannabis. Nabis said Shnet has “agreed to provide transition services” and thanked him for his contributions to the company, while looking forward to his “continued involvement” as a director. Meanwhile, Mark Krytiuk has also stepped down from his position as president and chief operations officer.

Nova Royalty Corp. (CVE:NOVR) announced that it has been advanced the initial $3.5 million under its convertible loan facility with Beedie Capital. The group said the initial advance will be used to fund the acquisitions of new royalties and streams. In a statement, Alex Tsukernik, Nova's president and CEO commented: "We are pleased to close the first tranche of the Beedie financing facility and look forward to executing our strategy of building a premier royalty company focused on the building blocks of clean energy – copper and nickel."

Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) (FRA:5GE1) said it has issued shares and made a cash payment as consideration for its acquisition of an 85% interest in the Lovelock Mine and Treasure Box Projects. Located in the Stillwater Range, Churchill County, Nevada, the projects are being acquired from Primus Resources L.C. and Nevada Sunrise Gold Corp. under the terms of an asset purchase agreement dated April 3, 2020.

Clean Seed Capital Group Ltd. (CVE:CSX) said it has retained the services of Ms Kelsey Letham to head its investor relations program. Letham has worked in the Financial Services and Wealth Management industry for over thirteen years. Kelsey began as an Investment Advisor with London Life and later as an Investment Professional at Scotia Wealth Management, this foundation evolved into a successful career in the Investment Industry supporting Financial Advisors across Western Canada as an Inside Sales Representative for both NEI Investments and Dynamic Funds then as Regional Director for National Bank Investments and VP Regional Sales for Franklin Templeton.

CleanSpark Inc (NASDAQ:CLSK) has priced its previously announced public offering at $9 a share. The gross proceeds from the financing are expected to be around $40 million and the cash will be used for working capital, the growth of the company's sales and marketing team, along with product development, including software enhancements and improvements, the company said. The firm will issue more than 4.4 million shares in the offering, which is expected to close in October.

Binovi Technologies Corp (CVE:VISN) (OTCMKTS:BVNIF) has closed its previously announced placing, raising C$1,701,553. The tech group issued over 13.3 million units at C$0.1275 a throw. Each unit consisted of one company share and one share purchase warrant. "The company intends to use the net proceeds from the private placement towards the expansion of its platform into K-12 Education, integration of the Vima Strobe technology, manufacturing of Binovi Touch hardware, and general corporate development and working capital," it said in a statement.

Fura Gems Inc. (CVE:FURA) (OTCMKTS:FUGMF) (FRA:BJ43) has announced the results of its annual and special meeting of shareholders (AGM) held on October 6, 2020, in Toronto, Canada which saw shareholders approve the acquisition of the company by Lord of Seven Hills Holdings FZE. The deal, previously announced on August 14, 2020, will see a wholly-owned subsidiary of the purchaser amalgamate with the company and each outstanding common share of Fura, other than common shares already held by the purchaser and its affiliates, will be cancelled and exchanged for a redeemable preferred share of the amalgamated corporation on a one-for-one basis and each redeemable preferred share will be immediately automatically redeemed for cash consideration of C$0.15 per share. The purchaser currently holds 140,048,752 Fura common shares, representing approximately 51.5% of the issued and outstanding common shares. At the AGM, a special resolution approving the transaction was approved by 99.621% of the votes cast at the meeting in person or by proxy and 98.926% of the votes cast at the meeting in person or by proxy, excluding votes cast by the purchaser and its affiliates. The transaction remains subject to customary conditions precedent and final regulatory approval.

Western Magnesium Corporation (CVE:WMG) (FRA:M1V) (OTCMKTS:MLYF) said it has become aware of a statement of claim filed against the company by Jim Sever. The statement of claim is currently under the review of Western Magnesium's legal council, and does affect normal company operations, it added. Western Magnesium said it will continue to give timely updates regarding this matter, adding that disruption to the company's operations has not, and will not, be affected by the matters brought forth by Sever and his legal counterpart. Business continues, it stressed, with Western Magnesium as it strives forward to become the number one global producer of green magnesium metal. Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight.

Genprex, Inc. (NASDAQ:GNPX), a clinical-stage gene therapy company developing potentially life-changing technologies for patients with cancer and diabetes, has announced that it will be presenting virtually at the upcoming Zooming with LD Micro event on Wednesday, October 14 at 11am ET. Genprex’s president and chief executive officer, Rodney Varner, will be delivering the company’s corporate presentation followed by a Q&A session with participants. Investors and other individuals may access the virtual presentation by registering for the event via the following link: https://bit.ly/34v3Sk3

Quick facts: Loop Insights Inc.

Price: 0.77 CAD

TSX-V:MTRX
Market: TSX-V
Market Cap: $74.74 m
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