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NA Proactive news snapshot: Todos Medical, Adastra Labs, Vuzix Corporation, Aequus Pharmaceuticals UPDATE…

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

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Todos Medical Ltd (OTCQB:TOMDF) CEO Gerald Commissiong provided an update to shareholders on Friday, saying it is “squarely focused” on COVID-19 for the immediate term and expects revenues generated from sales of its COVID-19 testing solutions to be a near-term driver of business. "We expect the revenues we generate from sales of COVID-19 testing solutions to drive the business in the near-term and position the company to capitalize on the very significant programs we have in cancer and Alzheimer’s diagnostics," Commissiong said in a letter to shareholders.

Adastra Labs Holdings Ltd (CSE:XTRX) (FRANKFURT: D2EP) Friday announced that its cryo-ethanol extraction system from Evolved Extraction Solutions is now operating at full scale, which has allowed it to triple its cannabis oil production capacity. The company said the industrial-scale EV-MASS system has become fully operational just in time to exploit the large processing demand expected from the first outdoor Canadian cannabis harvest. Adastra Labs CEO Andy Hale said in a statement: "We are pleased to announce the successful commissioning of our industrial-scale cryo-ethanol system from Evolved Extraction Solutions. The EV-MASS cryo-ethanol extraction system has performed flawlessly as we put it through the paces at our facility in Langley, BC. With excellent cannabinoid recovery, the EV-MASS has tripled our capacity for production of cannabis oil.”

Vuzix Corporation (NASDAQ:VUZI) announced late Thursday that it has received more follow-on orders for its Augmented Reality (AR) M400 Smart Glasses kits after successful proof of concept evaluations were performed by two new customers. The first is from a Fortune 500 engine manufacturer and a pharmaceutical air transportation solution provider. The second is a global provider of pharmaceutical air transportation solutions. Vuzix says the need for remote training and support due to coronavirus (COVID-19) has accelerated the adoption of its technology.

Aequus Pharmaceuticals Inc (CVE:AQS) (OTCQB:AQSZF) (FRA:AEQ), a specialty pharmaceutical company, announced Friday that Anne Stevens is stepping down as chief operating officer. Stevens will remain a director and continue to serve on the board, the Vancouver-based company said in a statement. “Anne and I co-founded Aequus together and I want to thank her for her many contributions over the years,” said CEO Doug Janzen. “Anne is an incredibly talented and effective executive who is leaving the company in excellent shape and well-positioned for success in the years to come. We are excited about her future plans and look forward to her continued work with the Aequus Board.”

Thoughtful Brands Inc (CSE:TBI) (OTCQB:PEMTF), a global natural health products and e-commerce technology company, announced that it has acquired all the outstanding share capital of American CBD Extraction Corp in an all stock deal. The Vancouver-based company through its Kentucky-based subsidiary, American CBD has the ability to process over 1,200 pounds of hemp per day to produce winterized crude. Thoughtful Brands will now adopt a vertically integrated model, controlling each aspect of its supply chain, including production, logistics and value chain. "The acquisition of American CBD marks a promising new phase for the Thoughtful Brands," CEO Ryan Dean Hoggan said in a statement.

DRDGOLD Limited (NYSE:DRD) (JSE:DRD), the gold producer, revealed it took first prize in the Sunday Times Top 100 Companies Awards, which acknowledges Johannesburg-listed companies which have earned the highest returns for their shareholders in the last five years. This was measured using a hypothetical investment amount of R10 000 over the period from September 1, 2015, to August 31, 2020, and DRDGold was found to have created the highest return, assuming reinvestment of all dividends, bonus share allotments and special payments.

Atlas Engineered Products Ltd. (CVE:AEP) (OTCMKTS:APEUF) said it saw increasing revenues and posted a profit in its third quarter.  The company reported revenue of C$9,677,692 for the three months ended September 30, 2020, compared to C$7,900,805 for the three months ended June 30, 2020. Atlas said its profitability has continued to improve during 2020. It posted an operating profit of C$482,818 in 3Q, compared to a profit of C$248,675 in 2Q and a loss of C$866,084 in the 1Q. In addition, the company said it earned net income of C$419,589 in 3Q and C$220,601 in Q2, versus a loss of C$762,961 in 1Q. Atlas said this expansion through 3Q represents a quarterly growth in revenue of 22%. The quarter-over-quarter increase in total revenues was driven by reslient markets in British Columbia and Manitoba, paired with an Ontario market rebound after coronavirus (COVID-19) related permitting restrictions were lifted at the end of May.

Goldseek Resources Inc (CSE:GSK) (CNSX:GSK) has raised C$907,750 via a flow-through placing, which the explorer will use to continue to advance its Quebec properties. The group issued over 2.4 million flow-through (FT) units at C$0.37 each for gross proceeds of $907,750. "We appreciate the continued support of our institutional shareholders as we position the company to benefit from being in the early stages of this gold bull market," Goldseek's chief executive Jon Deluce said in a statement. "We are well funded for continuous work programs through the end of 2021 to target grassroots discovery on our 5 projects. We continue to prepare for our December maiden drill program at our Bonanza Project (Urban Barry)."

MegumaGold Corp (CSE:NSAU) (OTCMKTS:NSAUF) has unveiled a merger deal with Canadian GoldCamps Corp (CSE:CAMP) to create a premier gold explorer with assets throughout Atlantic Canada. The share exchange transaction would see MegumaGold acquire all the shares in Canadian GoldCamps and would consolidate the latter's properties in the Bathurst camp in New Brunswick and in Newfoundland, along with MegumaGold’s extensive ground in Nova Scotia. The enlarged company will aim to define more ounces and will also benefit from a strengthened balance sheet and board. Under the deal, each Canadian GoldCamps shareholder will receive shares of MegumaGold equal to Canadian GoldCamps at an exchange ratio which equals one and one-tenth (1.1) Meguma shares per GoldCamps share.

Empower Clinics Inc (CSE:CBDT) (OTCQB:EPWCF) (FRA:8EC) announced Friday that its Kai Medical Laboratory (KAI) in Dallas has processed 1,375 coronavirus test units in October, a record for the facility. That number is nearly a nine-fold increase over the 180 units tested in September, despite the fact that Empower only acquired KAI on October 6. Given the very recent closing of the acquisition, the company said, the record October results were achieved without the benefit of Empower's planned sales, marketing and rollout plans.

Biocept Inc (NASDAQ:BIOC) (FRA:B003) posted third-quarter results after the market closed Thursday, that saw its revenue jump four-fold year-over-year, driven by the molecular diagnostics company’s astute decision to offer coronavirus (COVID-19) RT-PCR testing. For the period ended September 30, 2020, the San Diego-based company reported revenue of $6.6 million, compared to $1.5 million in the third quarter of 2019.

Pure Gold Mining Inc (CVE:PGM) (LON:PUR) on Friday announced its third-quarter 2020 financial and operating results, saying the development of its PureGold Mine in Red Lake, Ontario, is continuing at a “rapid pace” and the company remains on track to bring the first ore to the mill before year-end. The company raised about $7.1 million during the quarter from the exercise of share purchase warrants and said it remains fully funded through construction of the PureGold Mine. Anglogold Ashanti exercised 5.9 million of those warrants, increasing its ownership interest in the company to approximately 16%. The company also announced additional drill results at the PureGold project, which included 296.1 gram per tonne (g/t) gold over 4.9 metres from underground drilling, as well as 66.3 g/t gold over 1.0 metre from surface drilling at the Wedge target.

FSD Pharma Inc (NASDAQ:HUGE) (CSE:HUGE.CN) (FRA:0K9A) reckons it has sufficient cash to complete its Phase 2 clinical trial of lead candidate FSD-201 to treat coronavirus (COVID-19) patients, it told investors in its third-quarter results statement. As reported previously, the biotech has received the green light from the FDA to initiate the study for ultra micronized-palmitoylethanolamide (FSD201) to treat 352 hospitalized patients with the virus. As of September 30, the firm had cash and non-cash assets of C$56.2 million, while its short and long term liabilities were C$13.6 million. Operating expenses for the quarter to end-September were C$17.4 million, up from C$11.1 million in the same period of 2019.

Willow Biosciences Inc (TSE:WLLW) (OTCQX:CANSF) (FRA:3D7) ended its third quarter with nearly C$9.1 million in cash after completing  a successful pilot run of high-purity cannabigerol, or CBG. The bioscience firm became the first company to produce significant amounts of the cannabinoid biosynthetically after it executed a 500-litre pilot program during the quarter along with its development partner Albany Molecular Research Inc. Willow produced substantial quantities of CBG as sample material at greater than 99% purity with no detectable THC.

Dyadic International Inc (NASDAQ:DYAI) reported third-quarter results after the bell Thursday that revealed R&D revenue as well as cash on hand, thanks to a series of coronavirus (COVID-19) initiatives and six new and expanded research collaborations. On September 30, 2020, Dyadic had cash and equivalents of $21.9 million, compared to $4.8 million at the end of December 2019. The carrying value of short-term and long-term investment grade securities, including accrued interest on September 30, 2020, was around $8.7 million. The Jupiter, Florida-based company’s R&D revenue for the quarter totaled $416,000 from eight ongoing research collaborations, compared to five collaborations a year ago.

VolitionRx Limited (NYSEAMERICAN:VNRX) said Thursday it ended its third quarter with cash and cash equivalents of about $21 million as it prepares to launch its first product  -- the Nu.Q Vet Cancer Screening Test -- on November 30. “We continue to manage our expenditures carefully, and as we approach launch and commercialization, our burn rate is approximately $1.6 – $1.7 million per month,” the Belgian company said in a statement, highlighting the quarter, which ended September 30.

Antibe Therapeutics Inc (TSE:ATE) (OTCQB:ATBPF) (FRA:4B7) ended its fiscal 2Q with C$22.4 million in the bank as it prepares to launch Phase III trials of its lead drug candidate otenaproxesul, a non-addictive medication for chronic pain and inflammation. The Canadian pharmaceutical firm revealed secondary data from Phase IIB trials of otenaproxesul in June confirmed the drug’s potency to treat osteoarthritis pain. 

Maverix Metals Inc (TSE:MMX) (NYSEAMERICAN:MMX) has announced record third-quarter operating and financial results, which saw its revenue climb by 41% to US$14.9 million and its adjusted earnings surge by nearly 200% to US$5.3 million. The company said it sold a record 7,797 gold equivalent ounces during 3Q at an average cash cost per attributable gold equivalent ounce sold of US$195, resulting in a cash operating margin of 90%. Maverix Metals acquired a portfolio of 11 gold royalties from Newmont Corporation during the period for an upfront consideration of $75 million and potential future contingent payments of up to a maximum of $15 million. Maverix Metals CEO Dan O'Flaherty said in a statement: "Our stellar third-quarter results once again demonstrate the quality and diversification of our royalty and stream portfolio. We are also excited to have recently completed the accretive acquisition of a second royalty portfolio from our largest shareholder, Newmont, which further enhances our portfolio."

Naturally Splendid Enterprises Ltd (CVE:NSP) (OTCQB:NSPDF), the health food-focused manufacturer, said it has added experienced marketing and information technology specialist Kris Tarr to its advisory board to assist in e-commerce and online marketing. The group noted that Tarr's experience spans the high tech, pharmaceutical, tourism, online gaming and real estate sectors and he has worked for global organizations such as Coca Cola, Disney and Nickelodeon. He has started numerous lucrative business ventures and built many successful search engines including a property management franchise, the firm added.

As per Form 4 filings with the SEC, KushCo Holdings, Inc. (OTCQX:KSHB) CFO Stephen Christoffersen bought 25,000 shares of the company at a price of 77 cents each on Thursday, taking his holdings to 202,979 shares. It also reported that KushCo board member Pete Kaden bought 25,000 shares in the company at 79 cents each on Wednesday taking his holding to 120,502 shares. Both trades were made in the open market.

Permex Petroleum Corporation (CSE:OIL) (OTCQB:OILCF) has announced that the company's annual general meeting (AGM) originally to be held in December 2020 is being rescheduled to April 9, 2021, due to the continuing coronavirus (COVID-19) epidemic. "Under the current assembly restrictions and circumstances, the attendance from management and shareholders would not be possible. Therefore, we are rescheduling the annual general meeting in the hope that it can be held under more normal circumstances," says Mehran Ehsan, president of Permex Petroleum Corporation. A notice for a rescheduled meeting will be announced in due course for the holding of an AGM. If investors have any questions about the procedures required to qualify to vote at the meeting or about obtaining and depositing the required form of proxy, you should contact TSX Trust Company by telephone at 1-866-600-5869 (toll free in North America), by fax at 416-361-0470 or by e-mail at [email protected]

Algernon Pharmaceuticals Inc. (CSE:AGN) (FRA:AGW) (OTCQB:AGNPF), a clinical-stage pharmaceutical development company, has announced that it will be providing an update on its Ifenprodil Phase 2 human clinical studies presented by Christopher J. Moreau, the group's CEO and Dr Mark Williams, its CSO and hosted by Dr KSS on the BioPub webcast which will be held Friday, November 13, 2020, at 12.00pm EST. Investors can on the following link below to join the webinar: https://us02web.zoom.us/j/86387749592. Or by using iPhone one-tap: US: +16465588656, 86387749592#  or +16699009128, 86387749592#; or by telephone: US: +1 646 558 8656  or +1 669 900 9128  or +1 253 215 8782  or +1 301 715 8592  or +1 312 626 6799  or +1 346 248 7799; Webinar ID: 863 8774 9592 International numbers are available at: https://us02web.zoom.us/u/kdHPNqmy0h

Esports Entertainment Group, Inc. (NASDAQ:GMBL), a licensed online gambling company with a focus on esports wagering and 18+ gaming, has said it will host a conference call and webcast on Monday, November 16, 2020, at 4.30pm ET to answer questions about the company's operational and financial highlights for the third quarter of 2020 and recent developments. Live Call dial-in details: +1-855-327-6837 (US Toll-Free) or +1-631-891-4304 (International) Webcast: http://public.viavid.com/index.php?id=142485. A dial-in replay of the call will be available until November 30, 2020, and can be accessed by dialing +1-844-512-2921 (US Toll Free) or +1-412-317-6671 (International) and entering replay pin number: 10011948.

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