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NA Proactive news snapshot: Gevo, CleanSpark, KushCo Holdings, Water Tower Research, LeanLife Health, ElectraMeccanica UPDATE …

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

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Gevo Inc (NASDAQ:GEVO), citing a strong balance sheet and available cash, said Tuesday it expects to pay off its entire outstanding secured debt balance of $12.7 million by year’s end. The company made the upbeat announcement after reporting 2020 second-quarter financial results showing it flushed with a kitty of $80.6 million in cash and cash equivalents -- compared to just $6.3 million in the prior-year quarter. 

CleanSpark Inc (NASDAQ:CLSK) announced Tuesday the addition of Rachel Silverstein and Owen Cadwalader as vice presidents on its management team. Silverstein, who was named VP of compliance and general counsel, is a former corporate counsel at Zappos, an online clothing retailer owned by Amazon.com Inc (NASDAQ:AMZN). At CleanSpark, she will be assisting in compliance, mergers and acquisitions, as well as all general legal matters. Cadwalader, Cleanspark’s new VP of operations, was most recently an executive with Molekule, a clean-air technology company. Before that, he served as VP of OptiRTC, a cloud software company he cofounded for smart water management. Cadwalader will oversee product delivery, customer experience and help align multiple virtual office teams to further streamline operations.

KushCo Holdings Inc (OTCQX:KSHB) hailed 2020 as a “banner year” for the legal cannabis industry as the election resulted in New Jersey, Arizona, Montana, and South Dakota voters approving legal adult cannabis sales. The four states now join 11 states that have already decriminalized cannabis since Colorado and Washington broke the seal in 2012. In addition, voters in Mississippi approved medical cannabis use. Overall, all the states with legalization ballot initiatives in 2020 approved their respective measures, representing a 100% win rate at the state level for the legal cannabis industry.

LeanLife Health Inc (CSE:LLP) (FSE:LL1) Tuesday reported that it has moved into the commercialization phase for the pending distribution of Iron Energy drinks, with the receipt of Universal Product Codes (UPC) as well as the finalization of labelling and can design. UPCs are necessary for most online and traditional retailers including Amazon, eBay, Alibaba, Google, Carrefour, Tesco and Walmart. LeanLife Health announced in August 2020 that it has secured exclusive US and Canadian distribution rights to Iron Energy, a popular line of energy drinks endorsed by boxing legend Mike Tyson.

Water Tower Research (WTR) believes that edtech company Zovio Inc (NASDAQ:ZVO) may have scored a win-win-win by reaching a definitive agreement to sell the for-profit Ashford University to the University of Arizona. Ashford will be renamed the University of Arizona Global Campus and will pay Zovio to provide edtech services. “Zovio is attempting to transform itself from a for-profit school with significant regulatory burden into an education technology leader,” WTR wrote. “[The move could create] a win for students who will have continued access to high quality and possibly expanded educational choices; a win for the University of Arizona who is receiving very favorable financial terms and will also gain a new vehicle to offer education opportunities to a wide range of new students; and a win for Zovio who can benefit from the potential success of the renamed school through its service and revenue share agreement.”

TRACON Pharmaceuticals (NASDAQ:TCON) Tuesday announced that it has ended its third quarter 2020 with cash and cash equivalents of $26.5 million at September 30, 2020, up from $16.4 million at the end of 2019. The company says it expects its current funding to sustain operations into the first quarter of 2022, following approximately $10 million in private placement equity financings and pre-funded warrants at market from multiple healthcare focused institutional investors in August 2020.

African Gold Group, Inc (CVE:AGG) (ASX:A1G) (OTCMKTS:AGGFF) Tuesday announced that its team is helping local stakeholders keep key roads and infrastructure open in Mali, West Africa, in what has been one of the longest and wettest rainy seasons in recent memory. The company has paid for the steelwork, other construction materials, and labour to support a new structure over the old major bridge on the Samaya to Kobada road in Mali.

Predictmedix Inc. (CSE:PMED) (OTCQB:PMEDF) has announced that it is partnering for clinical research with the research group led by Dr Samira Rahimi, an assistant professor in McGill University's Department of Family Medicine. The company said it will be working with Dr Rahimi's research group for its three industry verticals which include screening for infectious disease-associated symptoms, screening for cannabis/alcohol impairment along with mental health screening technologies which are being developed by the company. Professor Rahimi is also an associate member of McGill's Electrical and Computer Engineering Department, and an affiliated scientist at the Lady Davis Institute for Medical Research of Jewish General Hospital.

Royal Road Minerals Limited (CVE:RYR) (OTCMKTS:RRDMF) Tuesday announced initial results from its follow-up drill program at the Caribe gold discovery in Nicaragua. The company noted that greater than 0.9 grams per tonne (g/t) gold was realized from the first seven drill holes of this program, including 74 meters at 0.9 g/t gold and 45 meters at 1.0 g/t gold.

VolitionRx Limited (NYSEAMERICAN:VNRX) announced a report Tuesday with contributions from four global leaders in veterinary oncology ahead of the expected launch of its first animal-test product -- the Nu.Q Vet Cancer Screening Test. In a statement, the Belgian company said the comprehensive new report for veterinarians, entitled “A Look to the Future of Cancer Diagnostics,” explores the promise of molecular diagnostics in veterinary oncology, especially for hard to find tumors. Volition said the report, which is the outcome of a round table event hosted by subsidiary Volition Veterinary Diagnostics Development LLC, also introduced Volition's Nu.Q technology and Nu.Q Vet Cancer Screening Test. Dr Heather Wilson-Robles, professor of Oncology at Texas A&M University and chief medical officer at Volition Veterinary, was one of the panelists. The panel reviewed data from results presented at the Veterinary Cancer Society Virtual Annual Conference in October, which demonstrated the successful use of the blood-based Nu.Q Vet Cancer Screening Test for dogs with lymphoma and hemangiosarcoma, a cancer of blood vessel walls, which together make up approximately one-third of canine cancers.

Melkior Resources Inc (CVE:MKR) (OTCMKTS:MKRIF) is starting a high-resolution MAG survey on its Val d’Or, Quebec property in preparation for a planned drill program, it said Tuesday. The junior explorer said the survey’s configuration will be similar to other companies in the Val d’Or region, which has seen “a lot of success,” with a low altitude, tight line spacing across a length of 2,573 line kilometres. Over the summer, Melkior completed a soil survey that defined four key targets along the property. The survey will focus primarily on Target 4 along the southern area of the property, where soil anomalies revealed multiple elements such as silver, nickel, cobalt and copper.

Nomad Royalty Company Ltd (TSE:NSR) (FRA:IRLB) has posted strong third-quarter results, which saw it increase net income and revenue, and allowing the firm to declare another dividend payment, which will be paid in January next year. For the three months to end September 2020, the rapidly growing precious metals royalty group posted net income of US$0.5 million, compared to US$0.4 million in the same period in 2019. Revenue came in at a record US$7.6 million, up from US$4.3 million in the same quarter of last year, made up from sales of gold and silver ounces.

XPhyto Therapeutics Corp (CSE:XPHY) (OTCMKTS:XPHYF) (FRA:4XT), a next-generation bioscience accelerator, revealed that it has expanded its exclusive development agreement with Professor Raimar Löbenberg to incorporate a number of psychedelic compounds, precursor molecules and metabolites (small molecules). The Vancouver-based company which is working on cannabinoid-based therapeutics focused on European markets said the deal includes, but is not limited to the following: Psilocybin (O-phosphoryl-4-hydroxy-N,N-dimethyltryptamine); Mescaline (3,4,5-trimethoxyphenethylamine); LSD (lysergic acid diethylamide); MDMA (3,4-methylenedioxymethamphetamine); and DMT (N,N-dimethyltryptamine).

PreveCeutical Medical Inc (CSE:PREV) (OTCQB:PRVCF) (FRA:18H) on Tuesday said it is advancing its coronavirus (COVID-19) Cannabinoid Sol-Gel Program. With the successful completion of the COVID-19 CBD Program, a sol-gel based formulation has been developed to deliver medicinal cannabis, the company said in a statement. Vancouver-based PreveCeutical added that it will provide further information once the final report for this program is received.  With the use of a nose applicator, the sustained-released Sol-Gel formulations allows for the direct and prolonged delivery of cannabinoids to a patient's central nervous system. The program is designed to prevent SARS-CoV-2 (the virus that causes COVID-19) infection in nasal tissue.

Lucky Minerals Inc (CVE:LKY) (OTCMKTS:LKMNF) has announced that fieldwork on the northwestern section of the Sherman Prospect, part of its Fortuna 4 gold and copper concession in Ecuador, has identified an area with what the company calls “significant stockwork type quartz veining”. The group said that a rock chip panel sample (0.50 metres by  0.50 metres) taken from the outcrop, returned 0.477 grams per tonne (g/t) gold. Lucky Minerals CEO Francois Perron said in a statement, "The discovery of stockwork potential at the Sherman prospect is extremely exciting. As our field crews begin demobilisation from the current campaign, new assay results point to near-surface potential.

BetterLife Pharma Inc (CSE:BETR) (OTCQB:BETRF) (FRA:NPAT) announced Tuesday a clinical and regulatory update for its AP-003 COVID-19 clinical trials following discussions with the US Food and Drug Administration. "Due to the critical unmet medical need and rapid nature of COVID-19 development programs, we pursued an early partnering meeting with FDA to identify a mutually agreeable non-clinical and clinical path that could ultimately lead to a pivotal trial,” said CEO Ahmad Doroudian in a statement. 

Elys Game Technology, Corp. (NASDAQ:ELYS), an interactive gaming and sports betting technology company, has changed its name from Newgioco Group, Inc., with its trading symbol to also change from NWGI to ELYS at the opening of the markets on November 10, 2020.  The group said the new name, Elys, comes with a focused and energetic team, to be introduced over the following few days, to help unlock the global potential of the company’s leading-edge gaming and betting software Elys Gameboard.

YayYo, Inc. (OTCPINK:YAYO), a leading provider of vehicles to the rideshare and delivery gig economy industry, has announced that its corporate name change to Rideshare Rental, Inc. took effect from September 11, 2020. The company has used the name YayYo, Inc since its inception, with Rideshare Car Rentals, LLC operating as its wholly-owned subsidiary. The name change reflects the company's shift since 2017 away from the development of a Metasearch App to a corporate focus in the growing rideshare and gig economy transportation industry.

Medallion Resources Ltd (CVE:MDL) (OTCQB:MLLOF) (FRA:MRDN) has started a technical review of its proprietary process to sustainably extract rare earths from monazite, it said Tuesday.  The Medallion Monazite Process obtains valuable rare earths from the mineral sand by-product using a highly optimized, scalable and automated design which converts more than 95% of monazite feed into saleable rare earths. Vancouver-based Medallion has hired Australian engineering consultants Simulus Engineers to complete a techno-economic assessment (TEA) that will combine results from previous testing, process simulation and trade-off studies that Medallion has compiled over the years.

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) (FSE:N29) has signed a strategic partnership with the Coex Convention and Exhibition Center, the largest convention center in Seoul, South Korea. Coex hosts more than 200 exhibitions and 3,000 meetings/events each year, in addition to organizing exhibitions throughout Korea and abroad. The company supports all major industry sectors, and has held events for major market players, including LG, Samsung, Google, Amazon, Microsoft, Nike, Audi, and Hyundai. Through this partnership, NexTech’s first in the Asia-Pacific region, the parties and Coex will create hybrid events through NexTech’s InfernoAR video conferencing platform.

First Cobalt Corp. (CVE:FCC) (OTCQX:FTSSF) has provided an update on commercial contracts and metallurgical test work relating to its cobalt refinery located in Ontario, Canada, noting that timelines for pilot plant completion and submission of permit amendments remain on track, while discussions for government support are well advanced. The company said it and Glencore PLC have agreed to discuss a long-term feed purchase contract rather than the tolling arrangement originally contemplated, providing First Cobalt greater leverage to the cobalt market by entering into offtake contracts with end-users directly. The group added that the maturity date on the company's US$5 million loan with Glencore has been extended by one year to August 23, 2022, which better aligns with refinery commissioning.

Vuzix Corporation (NASDAQ:VUZI) (FRA:V7XN) posted third-quarter results on Monday that saw its revenue jump 140% year-over-year on the back of higher sales of its smart glasses.  For the period ended September 30, 2020, the Rochester, New York-based company, which provides smart glasses and Augmented Reality technologies, reported revenue of $2.8 million, compared to $1.2 million in the third quarter of 2019.

O3 Mining Inc (CVE:OIII) (OTCMKTS:OQMGF) announced Tuesday that it has increased the number of drill rigs to six for its Alpha and Malartic properties in Val D'Or, Quebec. Of the six rigs, two are operating on the Malartic property, where a total of 45,000 metres (m) of drilling is planned, and four will focus on the Alpha property, for a total of 100,000m of planned drilling, the company said in a statement.

True Leaf Brands Inc (CSE:MJ) (OTCPINK:TRLFF) (FRA:TLA) said Tuesday that it has obtained approval from the British Columbia Supreme Court to finalize its refinancing and restructuring process. True Leaf recently struck a deal with financial backers Canguard Entities to sell its businesses, which include True Leaf Cannabis Inc, True Leaf Brands and True Leaf Investments Corp, after they emerge from their respective proposal proceedings. 

Goldseek Resources Inc (CSE:GSK) (CNSX:GSK) has acquired, via staking, the Val D'Or North property in Quebec, which it believes could host a porphyry type deposit.  The property lies 38 kilometres (km) north-east of Val D'Or and spans 143 claims over 8,000 hectares and complements the explorer's other assets in Urban Barry, Quevillon, Detour Gold Trend in Quebec and Hemlo in Ontario.

Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) (FRA:1XMA) is making good progress at its historic Kenville gold mine in British Columbia, where railway track is now being laid to connect to the mine, the firm said, as it also revealed it had closed a C$408,000 placing.  Ximen is refurbishing the existing portal (entrance to the mine) so the group can access mineralization, which was outlined in a resource estimate of 2009, and as reported in September, a new steel opening was constructed. "The culvert has been constructed and placed on graded bedding. Cement block retaining walls were constructed and placement of back-fill is nearly complete. Also, rail ties and track are being laid in the new portal culvert section to connect with the mine," the firm said.

Vox Royalty Corp (CVE:VOX) is poised to boost its assets with a high-quality North American portfolio comprising eight precious and base metals royalties, it revealed on Tuesday. The firm has struck a purchase and sale agreement to buy the portfolio from Breakwater Resources Ltd and some of its affiliates for up to C$980,002, made up of C$455,002 in cash and C$525,000 worth of Vox shares. Five of the acquired royalties boast NI 43-101 compliant resource estimates, Vox highlighted, as well as operators, which are well poised to rapidly advance the assets, such as major Agnico Eagle Mines Ltd and Hecla Mining Company.

Media Central Corporation Inc. (CSE:FLYY), (FRA:3AT) has announced that Rodney Davis has resigned from his position as chief financial officer (CFO) of the company, effective immediately. The company thanked Davis for his numerous contributions in the development of MediaCentral and wishes him well in his future endeavors. It said Igor Kostioutchenko will act as the interim CFO until the vacancy is filled. Kostioutchenko has led audit and other functions with Collins Barrow, now Baker Tilly Canada. He began his public accounting career with Deloitte LLP., and is currently the controller of MediaCentral.

Helix BioPharma Corp. (TSX:HBP), a clinical-stage biopharmaceutical company developing unique therapies in the field of immuno-oncology based on its proprietary technological platform DOS47, announced that it has signed a definitive share purchase agreement with CAIAC Fund Management AG, as designed trustee of HIO Fund to purchase Helix's remaining holdings in its Polish subsidiary, Helix Immuno-Oncology S.A., for gross proceeds of PLN 6,700,000. The transaction is expected to close this month. ACM Alpha Consulting Management Est. will be entitled to a 12.5% fee in connection with the closing of the transaction.

Canada Silver Cobalt Works Inc (CVE:CCW) said the TSX Venture Exchange has accepted for filing documentation in connection with an exploration and option agreement dated October 26, 2020, between the company and Frederic Bergeron whereby the company was granted an option to acquire 12 mining claims located in Lac-St-Jean, Quebec. Consideration is a total of $187,500 payable in cash or shares in three tranches over a 36-month period and $100,000 in exploration expenditures in the third year. If payable in shares, the deemed price is equal to the volume-weighted average trading price for the 10 trading days immediately preceding the closing date subject to a floor price of not less than the discounted market price as of the date of the news release. The claims are subject to a 2% net smelter royalty (NSR) in favour of Bergeron.

Antibe Therapeutics Inc. (CVE:ATE) (OTCQB:ATBPF), a clinical-stage company leveraging its unique hydrogen sulfide platform to develop safer medicines for pain and inflammation, announced that it has received final approval to list its common shares on the TSX from the Toronto Stock Exchange. “We are excited to graduate to the TSX, as it represents a further step in reaching the broader investment community while increasing liquidity for our shareholders,” remarked Dan Legault, Antibe’s CEO. “We look forward to continued progress as we advance our partnering discussions and prepare for Phase III trials of otenaproxesul, our lead drug.” Antibe’s shares will commence trading on the TSX under its existing ticker symbol 'ATE' at the market open on Thursday, November 12, 2020.

Telson Mining Corp (CVE:TSN) said the TSX Venture Exchange has accepted for filing the company's proposal to issue 12 million share purchase warrants, each exercisable at a price of 17.5 cents per share for a period of three years, to Trafigura Mexico S.A. de C.V., in consideration for the restructuring of two loans with the original principal amounts totalling US$20 million.

Candelaria Mining Corp (CVE:CAND) said the TSX Venture Exchange has accepted for filing documentation in connection with a share purchase agreement dated October 23, 2020, between the company and Empire Metals Ltd., whereby Empire is the owner of 100% of the issued shares of GMC Investment Ltd. GMC owns a 50% interest in JSC Georgian copper and gold, which holds the exploration and mining licence for the Bolnisi gold and copper project in the Republic of Georgia. In consideration of the purchase of the GMC shares from Empire, the company will issue four million common shares with a deemed price per share of 50 cents.

CanaFarma Hemp Products Corp. (CSE:CNFA) has announced that BDO USA, LLP has resigned as auditors of the company on its own initiative, effective on October 22, 2020. The group said there were no adverse, qualified opinion or denial of opinion on its consolidated financial statements for the relevant period during which BDO was the company's auditor. BDO has advised the company of a reportable event for an unresolved issue, for which: a) The former auditor was unable to gather sufficient and appropriate evidential matter regarding key financial statement line items rendering the Former Auditor unable to reach a conclusion as to the implications of not obtaining such evidence prior to the date of the Former Auditor's resignation. b) Neither of the Audit Committee of the company's board of directors nor the board of directors of the company has discussed the aforementioned issue with the former auditor. c) The company has authorized the former auditor to respond fully to all inquiries of any successor auditor concerning the aforementioned issue. BDO's resignation has been accepted by the company's audit committee and the board of directors.

OTC Markets Group Inc. (OTCQX:OTCM), operator of financial markets for over 11,000 U.S. and global securities, has announced that Thunderbird Entertainment Group Inc. (CVE:TBRD) (OTCQX:THBRF), a developer of global brands through content creation, has qualified to trade on the OTCQX Best Market and has 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 delighted to begin trading on the OTCQX Best Market, and believe this milestone will provide additional visibility within the investment community for the Thunderbird story, further driving shareholder value," said Jennifer Twiner McCarron, Thunderbird’s CEO.

LexaGene Holdings, Inc., (CVE:LXG) (OTCQB:LXXGF), a molecular diagnostics company that develops fully automated rapid pathogen detection systems, has announced that its CEO and founder Dr Jack Regan will be presenting at the Investor Summit Group Conference on November 18, 2020, at 1.30pm EST. In addition, he will also be presenting at the Canaccord Genuity 2020 Medical Technologies & Diagnostics Forum on November 19, 2020, at 10.00am EST. Dr Regan commented: “This is an excellent opportunity for the Company to showcase LexaGene’s advancements to new groups of retail and institutional investors, particularly during this exciting time in LexaGene’s commercialization journey.” More information about these conferences can be found on the event page of LexaGene’s website: https://lexagene.com

Co-Diagnostics, Inc. (NASDAQ:CODX), a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, has announced that it will release its third-quarter 2020 earnings on November 16, 2020, after the close of trading, and will hold an earnings call at 4.30pm EDT. The call is expected to consist of prepare remarks by company CEO Dwight Egan. Analysts providing coverage for Co-Diagnostics will also be invited to participate in a question and answer session. All other participants can register for access to the webcast here: https://www.webcaster4.com/Webcast/Page/1775/38520. The call will be recorded and later made available on the company’s website.

Bioasis Technologies Inc (CVE:BTI) (OTCQB:BIOAF), the company behind the xB3 platform to deliver drugs across the blood-brain barrier, announced Tuesday that its annual general meeting of shareholders will be held at 9 am ET on Thursday, December 10 at the offices of Marcum LLP in New Haven, Connecticut. The company is encouraging shareholders and others not to attend in person but to submit their votes by proxy before the December 8 deadline to do so. Bioasis will be nominating Deborah Rathjen, John Curran, David Wurzer, Mario Saltarelli and John Hemeon as directors, the latter of whom is not currently on the board. Shareholders can participate but not vote in real time by dialing in at 1-800-319-4610 in Canada or the US, or 1-604-638-5340 internationally. To join by webcast, shareholders can visit: http://services.choruscall.ca/links/bioasis20201210.html.

Mandalay Resources Corporation (TSE MND) (OTCQB MNDJF) says it third quarter 2020 financial results will be released after market close on November 11,, followed by a conference call with CEO Dominic Duffy for investors and analysts on November 12, at 8:00 am ET.Analysts and interested investors are invited to participate using the following dial-in numbers:Participant Number: (201) 689-8341; Participant Number (Toll free): (877) 407-8289; Conference ID: 13713074. A replay of the conference call will be available until 11:59 pm ET, November 26,, and can be accessed using the following dial-in number: Encore Toll Free Dial-in Number: (877) 660-6853; Encore ID: 13713074

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