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NA Proactive news snapshot: American Resources, Bioasis Technologies, ION Energy, Melkior 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

American Resources Corporation (NASDAQ:AREC) earned a Buy rating and a $4 price target from analysts at HC Wainwright in a note published Wednesday. The firm is expecting American Resource to produce 1.5 million tons of coal in fiscal 2021 from its Perry County and McCoy Elkhorn assets and generate $104.4 million in revenue in the process. HC expects the company’s Wyoming County Coal to begin production in fiscal 2022 and total coal production to hit 4.2 million tons in fiscal 2023. 

Bioasis Technologies Inc (CVE:BTI) (OTC:BIOAF) could ultimately be worth double its current share price if analysts at Zacks Small-Cap Research are correct in the recent coverage initiation report. The firm gave Bioasis a US$0.60 price target in a note published Monday, suggesting more than 100% upside on its Wednesday afternoon price of $US0.26. Bioasis is developing a program called xB3 that enables drugs to cross the blood-brain barrier (BBB). The company has preclinical programs underway targeting breast cancer metastases and treatment of Gaucher disease, both of which Zacks expects to reach clinical trials in 2021.

ION Energy Ltd (CVE:ION) told investors it has started its geophysics study at the Baavhai Uul project, which the company described as a 'pivotal' moment for the future development of Mongolia's lithium brine deposits. The work is aimed at identifying and mapping brine aquifers as potential targets for a series of drill tests. "The commencement of exploration programs at ION Energy's Baavhai Uul Lithium Brine project is a pivotal moment in the exploration and future development of Mongolia's strategically located lithium brine deposits. This is the first time advanced modern exploration techniques will be utilised for the discovery of lithium brines in southern Mongolia," said the company's CEO Ali Haji in a statement.

Melkior Resources Inc (CVE:MKR) (OTCMKTS:MKRIF) (FRA:MEK1) revealed Kirkland Lake Gold Ltd (TSE:KL) had kicked off a 3,800 metre (m) drill program at its Carscallen project in Ontario. As reported last month, the junior explorer struck a deal with the mining major to advance its Carscallen asset as operator and has the right to earn up to a 75% stake.

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) (FRA:N29) announced Wednesday that its recently acquired AiRShow app will have in-app purchases and ticketing capabilities beginning in early November.  The AiRShow app turns music artists into ‘live’ holograms that users can interact with, in their homes, providing an immersive and engaging augmented reality (AR) experience, the company said.

CleanSpark, Inc. (NASDAQ:CLSK) has reported a fourth consecutive year of record-breaking annualized revenues and has reaffirmed its target of $20 million in gross revenue for its 2021 fiscal year. The diversified software and services company said preliminary unaudited revenue for its fiscal year ended September 30, 2020, was in excess of $10.0 million, representing a 222% increase in gross revenues over the company's 2019 fiscal year-end results. The company said it will be investing in growth with a focus on higher-margin software and service sales. CleanSpark currently has an executed contracted backlog exceeding $6.0 million and a proposal pipeline exceeding $12.0 million.

Japan Gold Corp (CVE:JG) (OTCQB:JGLDF) has updated on progress of its alliance with Barrick Gold Corp (NYSE:GOLD), which covers 29 out of the firm's 31 projects in the south-east Asian country. The firm holds assets in the major epithermal gold provinces of Japan across its three largest islands - Hokkaido, Honshu and Kyushu - and the tie-up sees Barrick sole fund a two-year initial evaluation of each and potentially a three-year second phase if they meet certain criteria. Much of the Barrick Alliance work in the last two months, as well as ongoing geophysical surveys in Kyushu, has focused on the Kitami region of northeast Hokkaido, said the firm.

Sanatana Resources Inc (CVE:STA) announced Wednesday that it has received exploration permits for the Gold Rush Project in the Timmins Region of Ontario allowing for mechanized drilling, mechanical stripping, pitting and trenching and ground geophysical surveying requiring a generator. “Our work to date, awaiting the permit, has been to locate, characterize and prioritize the numerous gold showings on the property,” said Buddy Doyle, Sanatan's president and director, in a statement. “This work successfully identified old prospects, including some that have not seen any work since the 1930s, and located new showings. Our team is impressed by the number of showings carrying gold on the Project, which now number over 10. Only one, the de Santis shaft, has ever been drill tested, with shallow 30 meter drill holes. This is remarkable given we are only 25 km away from Timmins."

Loncor Resources Inc (TSE:LN) (OTCQX:LONCF) has started a new drilling program at its Imbo project in the Democratic Republic of Congo, it said Wednesday. Imbo, which currently boasts a resource of 2.5 million ounces of gold, is 85% owned by Loncor. In a statement, the Toronto-based company said it hopes to outline additional mineral resources at the Adumbi, Kitenge and Manzako deposits that comprise the 30.7 million ton-inferred resource grading at 2.5 grams per ton gold.

Mandalay Resources Corporation (TSE:MND) (OTCQB:MNDJF) (FRA:R7X2) has reported further exploration success at the Youle deposit at its Costerfield mine in Australia, which is expected to lead to a longer mine life at 'significant' profit margins. Since first ore was mined at Youle in August last year, the deposit has been a consistent producer of high-grades, the miner noted. The latest drilling has uncovered a new high-grade domain around 100 metres (m) below current operations. In addition, continued drilling to the north of Youle has thrown up intersects such as 0.27m at 186 g/t gold and 37.4% antimony.

Lexaria Bioscience Corp (OTCMKTS:LXRP) (CSE:LXX) (CNSX:LXX.CN) announced Wednesday that it will receive its first-ever European patent related to its DehydraTECH technology. In a statement, the company said the European patent number 3164141 will be published in the European Patent Bulletin of November 11, entitled "Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof" and includes claims for improved oral delivery of cannabinoids, nicotine, non-steroidal anti-inflammatory drugs (NSAIDs) and vitamins.

AEX Gold Inc. (LON:AEX) (CVE:AEX), an independent gold company with a portfolio of gold licences in Greenland, has updated investors on the 2020 exploration drilling campaign at its Nalunaq property in South Greenland. The company said that infill drilling at Nalunaq successfully intercepted the Main Vein with true thicknesses of up to 1.36 meters and visible gold, among the thickest intersections ever drilled at Nalunaq.

ImagineAR Inc (CSE:IP) (OTCQB:IPNFF) announced Wednesday it is launching the first-ever mobile WebAR retail project in North America in December. A new product offering for the augmented reality company, the technology will allow consumers to experience augmented reality using their mobile phone cameras in a retail setting without them having to download an app. It is the first commercial agreement to provide non-app augmented reality for a major retail campaign using 3D models, according to the Vancouver-based company.

Tetra Bio-Pharma Inc (TSE:TBP) (OTCQB:TBPMF), a leader in cannabinoid-derived drug discovery, said Wednesday that it has struck an amended license agreement with IntelGenx Technologies Corp (OTCMKTS:IGXT), a leader in pharmaceutical films, to acquire additional worldwide exclusive rights for the Adversa mucoadhesive delivery technology for its PPP-002 (Dronabinol) drug candidate. The Canadian biopharmaceutical company is planning to file a 505(b)(2), in the US, in early 2022 to obtain its second Drug Identification Number (DIN) for a THC-based prescription drug. In addition to the Dronabinol Soft Gel capsules, a cannabinoid-derived prescription drug aimed at treating AIDS-related anorexia and severe nausea linked with chemotherapy, Tetra will advance a second cannabinoid derived medicine for patients who suffer nausea while having chemotherapy. The global Chemotherapy Induced Nausea and Vomiting (CINV) market is expected to touch $2.6 billion by 2022, according to Allied Market Research.

American Manganese Inc (CVE:AMY) (OTCPINK:AMYZF) (FRA:2AM) revealed on Wednesday that the United States Defense Logistics Agency (DLA) has awarded the company a grant to work on the US government's manganese ore stockpile located near Wenden, Arizona, with the goal of producing electrolytic manganese metal (EMM) for the nation. The DLA manages combat logistics across all US Armed Services and oversees the US National Defense Stockpile (NDS).

Loop Insights Inc (CVE:MTRX) (OTCMKTS:RACMF), a provider of contact tracing and artificial intelligence to drive automated marketing, announced that the firm’s Senior Vice President of Business Development Mike Canevaro has been selected to lead a roundtable discussion at retail conference ShopTalk 2020 on the future of the brick-and-mortar retail space. Billed as one of the world’s biggest retail conferences, the three-day ShopTalk 2020 event kicks off on October 20.

BioLargo, Inc. (OTCQB:BLGO) has announced that its subsidiary BioLargo Engineering, Science & Technologies (BLEST) has been awarded a contract to assist in the reconfiguration of the Regenerative Thermal Oxidizer (RTO) systems used at a large chemical manufacturing plant on the East Coast of the US. The plant, owned by a global chemical company, produces phenolic resins, antioxidants and related synthetic organic products. The contract is expected to execute with a series of milestones through mid-2021, with anticipated scope expanding the contract period to at least 24 months and over $500,000 in total revenue, BioLargo said in a statement.

American Battery Metals Corporation (OTCQB:ABML), soon to be known as American Battery Technology Company, raised $1.35 million in an initial offering of preferred stock, to repay and satisfy its remaining convertible notes.  The preferred stock came at a fixed per-share price of $0.125 common share equivalent, the Nevada-based company said. By repaying the notes, which could have been converted into common stock at a discount, the company avoids diluting its shares. 

DGTL Holdings Inc (CVE:DGTL) (FRA:D0G) said Wednesday that its subsidiary Hashoff LLC has signed a 24-month SaaS (software as a service) licensing agreement with a global leader in online fantasy sports gambling. In a statement, DGTL said the service agreement was executed directly with the premier online fantasy sports contest brand listed on the Nasdaq exchange, with a current market capitalization in excess of $16 billion. This new online sports fantasy gambling customer allows active users to enter and bet, on daily and weekly fantasy sports-related contests in several major professional sports leagues including MLB, NHL, NFL, NBA, PGA, Premier and UEFA Champions League soccer, NASCAR racing, Mixed Martial Arts and tennis, among others.

Heritage Cannabis Holdings Corp. (CSE:CANN) (OTCQX:HERTF) has announced that Russ Allison has been appointed Vice President of Sales and Kina Guyton has been appointed Vice President of Medical Products for Heritage’s subsidiary Opticann Inc. in the United States. “Both Kina and Russ bring the decades of experience we need to drive the advancement of Heritage’s U.S. strategy at Opticann, and bring brands to market successfully in the rapid-growth U.S. cannabis and hemp markets,” said Umar Syed, recently appointed himself as president, US & International medical products for Heritage. “Their combined experience in sales and product development in the consumer packaged goods industry make them key additions as we build out our U.S. team,” he added in a statement.

Biocept, Inc. (NASDAQ:BIOC), a leading commercial provider of molecular diagnostic tests and services, has announced the appointment of Samuel D. Riccitelli to its board of directors, effective immediately. The group said Riccitelli brings to Biocept extensive experience in the molecular diagnostics industry, having served in executive-level positions and on the boards of multiple publicly traded companies.  At Biocept, he will initially serve on the Audit Committee and the Science and Technology Committee. It added that he is joining ahead of the planned retirement of Bruce A. Huebner, who will retire from the Biocept board of directors on November 30, 2020.

Fury Gold Mines Limited (TSE:FURY) (NYSEAMERICAN:FURY) announced Wednesday the appointment of Lynsey Sherry as chief financial officer. The company said that Sherry, formerly the vice president, controller at Goldcorp, will start at Fury's Toronto office in mid-November. She takes over from Elizabeth Senez, who had been assuming the role of interim CFO.

Fidelity Minerals Corp. (CVE:FMN) (FRA:S5GM) said it has engaged Red Cloud Securities Inc. and Red Cloud Financial Services Inc. to provide the Company with a range of corporate advisory and investor relations related services for an initial term of 6 months and a consideration: of$75,000. Following the transformation of Fidelity Minerals, reconfirmation of the sale of Cerro Dorado and the recent exploration success at Las Brujas, the company said it is now well placed for future success. The project portfolio it has assembled in Northern Peru has generated significant industry interest, including from established mining companies interested in transactional opportunities. As the company enters the next stage of growth, the engagement of Red Cloud will assist with introducing Fidelity Minerals to a broader investors base, provide improved access to equity capital markets (ECM), and provide access to corporate advisory/investment banking services in support of any potential transaction activity. Red Cloud Securities is registered as an Investment Dealer in Ontario, Quebec, Alberta and British Columbia and is a member of the Investment Industry Organization of Canada (IIROC).

Gevo, Inc. (NASDAQ:GEVO) has said it will host a conference call on November 10, 2020, at 4.30pm EST (2.30pm MST) to report its financial results for the third quarter ended September 30, 2020, and provide an update on recent corporate highlights. To participate in the conference call, please dial (833) 729-4776 (inside the US) or (830) 213-7701 and reference the access code 4631139#. A replay of the call will be available two hours after the conference call ends on November 10, 2020. To access the replay, investors can visit https://edge.mediaserver.com/mmc/p/oxzaapnc. The archived webcast will be available in the Investor Relations section of Gevo's website at www.gevo.com

Alchemist Mining Inc. (CVE:AMS) said it has filed its first-quarter 2020 unaudited condensed consolidated interim financial statements for the three months ended July 31, 2020, along with its related management discussions and analysis. The BCSC (British Columbia Securities Commission) has advised that a revocation order for the CTO will be issued as soon as possible after the Q1 filings are filed on SEDAR. The company's financial statements and related MD&A are now available on SEDAR and the company's website.

BioPorto A/S (CPH:BIOPOR) has announced the completion of the fully-guaranteed rights issue announced on September 25, 2020. The 66,645,476 new shares will be admitted to trading and official listing on Nasdaq Copenhagen, with the expected first day of trading being 22 October 2020. BioPorto’s share capital has been increased by DKr 66,645,476 as a result of the completion of the offering.

VolitionRx Limited (NYSEAMERICAN:VNRX), a multi-national epigenetics company developing simple, easy to use, cost-effective blood tests to help diagnose a range of cancers and other diseases in both humans and animals, has released a video of the virtual capital markets day event its held on Tuesday, October 20, 2020. Commenting on the event Cameron Reynolds, president and chief executive officer of Volition said: "We were delighted to host a busy virtual capital markets event yesterday and would like to thank all of those that joined the event live. This is an exciting time for the company as we prepare for the launch of the Nu.Q Vet Cancer Screening Test later this year. I am equally delighted to share a video of the presentation and Analyst Question and Answer session so that those unable to attend can view in their own time." The event video can be viewed via the following link: https://youtu.be/iIw84HzKyTI; and on the Volition website at www.volition.com

American Resources Corporation (NASDAQ:AREC), a supplier of raw materials to the rapidly growing global infrastructure marketplace, has announced that Mark Jensen, its chairman and CEO will present at the IVYFON Family Office Atlanta / Virtual Forum on Wednesday, October 21, 2020, at 3.20pm ET. As part of his live video presentation, Jensen will provide an overview of American Resources' business strategy that has begun to disrupt the industry, as well as discuss how the company is well-positioned for a surge in global infrastructure initiatives as economies recover post coronavirus (COVID-19), as well as its American Metals and American Rare Earth business lines. The Ivy Family Office Network (IVYFON) has assembled a group of subject matter experts on investing in downturns in private equity, venture capital, real estate and other areas. IVYFON will be hosting a family office and institutional investor forum which will be in person in Atlanta, Georgia and broadcasted live online on October 21 from 8.00am ET to 4.30pm ET. To register for the online event, investors should visit: https://ivyfon.com/oct21forum/registration.html

OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for over 11,000 US and global securities, has announced that Dogwood State Bank (OTCQX:DSBX), a North Carolina state-chartered community bank, has qualified to trade on the OTCQX Best Market and has today upgraded from the OTC Pink market. The OTCQX Market enables banks to maximize the value of being a public company by providing transparent trading and easy access to company information for shareholders. To qualify for OTCQX, community banks must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. "We are excited about this significant achievement in the life of Dogwood State Bank," said CEO Steve Jones. "Our trading on the OTCQX Market demonstrates our commitment to our shareholders and the communities we serve as we continue building a high performing, statewide North Carolina community bank. The OTCQX Market will enable broader participation in our shareholder base from customers, employees, and other supporters of the Bank." 

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