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NA Proactive news snapshot: ElectraMeccanica, Marrone Bio, Predictmedix, VolitionRx, CleanSpark, HempFusion 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

ElectraMeccanica Vehicles Corp (NASDAQ:SOLO) ended its 4Q 2020 with a healthy $129.5 million in the bank to power its SOLO US rollout in 2021, according to its financial results released after the bell on Tuesday. The electric vehicle manufacturer expanded its SOLO retail footprint to six new locations during the quarter, eventually adding more to hit 10 additional high-end shopping centers by March 2021. “2020 was a transformative year for ElectraMeccanica, one that began with the launch of our first retail locations and ended with the arrival of the first production SOLO EVs onto US soil,” CEO Paul Rivera said in a statement accompanying the results. 

Marrone Bio Innovations Inc (NASDAQ:MBII) reported a 31% year-over-year surge in its Fiscal 2020 revenue to $38.4 million, driven largely by the company’s expanded  product line and international footprint. Marrone also said its net loss and Adjusted EBITDA for the year improved by 46% and 31%, respectively, achieving gross margins of 59.6% as a result of an improved product mix.

Predictmedix Inc (CSE:PMED) (OTCQB:PMEDF) revealed Tuesday that it has entered into a letter of intent (LOI) to acquire Symp2Pass Inc, an AI-powered IoT product suite of technologies, in a $5 million cash and stock deal. Symp2Pass, developed by SmartCone Technologies Inc, is one of the first end-to-end advanced touchless health and wellness testing solutions that provides coronavirus (COVID-19) symptom screening from multiple independent sensors with geolocation mapping, the company noted. Symp2Pass’s thermal scanning capabilities allow scans to be completed with an accuracy of ± 0.54° Farenheit and can scan up to 30 people at a distance of more than nine feet, it added. With Predictmedix’s infectious disease screening algorithms, the company said it will be able to develop non-invasive screening at scale.

VolitionRx Limited (NYSEAMERICAN:VNRX) CEO Cameron Reynolds told shareholders on Tuesday that the epigenetics company is in its “strongest-ever financial position” to support and develop its diagnostic tests. The company shared full-year 2020 financial results, which showed it had cash and cash equivalents of $19.4 million on December 31, 2020, compared with $17 million at the end of December 2019. More importantly, after a public offering in February, VolitionRx’s cash and equivalents shot up to $40 million before deducting expenses incurred so far in 2021. During the first quarter of 2021, the firm added nearly $20.5 million in cash mostly through the underwritten public offering.

CleanSpark Inc (NASDAQ:CLSK) said it has executed more than 50 new contracts under its residential initiative in less than one month following its acquisition of Solar Watt Solutions. The company noted the additional contracts for residential microgrids and battery energy storage solutions executed since February 24 have a face value exceeding $1.7 million. “Acquiring an existing partner was a deliberate move to further our reach into the residential markets as our cross-functional teams already had experience working together. This experience enabled us to decrease our collective teams’ relative 'learning curve' and accelerate our growth without missing a beat,” CleanSpark CEO Zach Bradford said in a statement.

HempFusion Wellness Inc (TSE:CBD.U) (OTCQX:CBDHF) announced Tuesday that Validcare’s clinical study on CBD liver safety revealed no evidence of liver toxicity. The industry-sponsored, decentralized human safety study of hemp-derived CBD products was conducted with 839 participants and with the help of sector leaders like Denver-based HempFusion, which offers premium probiotic supplements and products containing CBD. In a statement, HempFusion told investors that the preliminary findings are “validating and encouraging.”

Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) (FRA:5GE2) revealed it expects to start drilling at the Lovelock mine battery metals Project in Nevada in May this year, subject to the weather, adding it will submit a permit amendment application to greenlight the work. This will amend an existing approved permit for drilling at the asset, which comprises 81 unpatented claims for around 642 hectares (1,586 acres), including the past-producing high-grade cobalt-nickel Lovelock mine. Proposed are eight targets for the maiden 1,400 metres (m) short-hole drill program, which are aimed at confirming intersections of cobalt-nickel-copper-bearing structures within historical workings.

PsyBio Therapeutics Corp (CVE:PSYB) announced Tuesday that it has initiated process development of its proprietary biosynthetic formulation of norbaeocystin in collaboration with the Advanced Biofuels and Bioproducts Process Development Unit, a scale-up facility managed by Lawrence Berkeley National Laboratory. The company noted that norbaeocystin is an analogue of psilocybin and is not a controlled substance.  PsyBio said it has commenced Phase I of the formulation process, including analytical chemistry technical transfer to establish detection methods for fermentation products and key feedstocks and metabolites.

Xigem Technologies Corporation (CSE:XIGM) (FRA:2C1), a technology provider for the emerging remote economy, announced Tuesday that it has signed a letter of intent (LOI) to enhance its iAgent cloud-based software platform for Insurance Supermarket Inc (ISI). Xigem said it will work with ISI to further position its insurance technology (insurtech) initiatives in the fast-evolving North American insurance market. Estimates show that the nearly US$3 billion global insurtech market size is expected to expand at a compound annual growth rate (CAGR) of approximately 48.8% from 2021 to 2028. And Xigem said the increasing need to digitize and simplify the vast array of insurance services accounts for much of the acceleration in the market.

Snowline Gold Corp (CSE:SGD) (OTCMKTS:SNWGF) provided additional information on its 100%-owned Tosh Gold Project in the southwest Yukon Territory. The company said the 1,630-hectare property is located in an under-explored part of the same geological terrane as Newmont Corporation's (NYSE:NEM) (TSE:NGT) (FRA:NMM) Coffee Gold project, as well as projects owned by White Gold Corp (TSXV:WGO) (OTCMKTS:WHGOF) (FRA:29W). Also, assay results up to 6.8 grams per tonne (g/t) gold and 1,146 g/t silver were obtained from rock grab samples over an area spanning 15 kilometres. 

American Manganese Inc (CVE:AMY) (OTCQB:AMYZF) (FRA:2AM), which has a patented lithium-ion battery cathode recycling process (RecycLiCo), announced that it had inked a Memorandum of Understanding (MoU) with Italvolt SpA, Italy’s first battery Gigafactory and one of the largest in Europe, to develop a commercial recycling plant alongside Italvolt’s planned Gigafactory in Scarmagno, Italy. The Canadian company and Italvolt will “work collaboratively” to recycle waste lithium-ion battery cathode material, using the advanced RecycLiCo process.

Versus Systems Inc (NASDAQ:VS) (FRA:BMVB) announced Tuesday it has added new functionality to its patented Dynamic Regulatory Compliance prizing engine to support uses in Mexico -- which is the largest gaming market and the largest TV subscription market in Latin America. Versus said it will be partnering with some of its existing content partners to launch in Mexico in the second quarter of this year. By expanding into the Mexican market, the company said it will leverage its gaming and second-screen expertise to provide unique prizing solutions for brands and content partners looking to engage with a combined audience of 85 million. 

Talon Metals Corp (TSE:TLO) (OTCMKTS:TLOFF) (FRA:TAO) told investors it is now re-assessing its drilling strategy after it hit the longest intersection of mixed massive sulphides at its Tamarack nickel project so far. The hole in Minnesota was sunk at the western limb of the so-called high-grade massive sulphide unit (MSU) area in a bid to expand the resource area to the south. Starting at a depth of 459.72 metres (m), the said hole hit 21.73m of mixed massive sulphide mineralization grading 6.72% nickel, 2.95% copper, 0.13% cobalt, 0.56 grams per ton (g/t) palladium, 0.76 g/t platinum and 0.38 g/t gold. Within that 21.73m, the company intercepted 6.52m at 8.21% nickel, 3.72% copper, 0.16% cobalt, 0.67g/t palladium, 0.86 g/t platinum and 0.36 g/t gold.

Midwest Energy Emissions Corp (ME2C Environmental) (OTCQB:MEEC) announced Tuesday new technologies under development intended to improve the processing of rare earth elements (REEs) in North America. The Department of Energy has reported a global market for REEs valued at about $13.2 billion in 2019, with a growth expectation of 10.7% annually, between 2020 to 2026, the company noted. According to the DOE, the US currently imports all of the REEs it consumes, of which around 80% are imported from China, the global leader.  In 2018, the agency also said that the global demand for rare earth elements was about 150,000 tons, with the US demand at about 11% or about 16,500 tons. 

Predictiv AI Inc (CVE:PAI) (OTC:INOTF) (FRA:71TA) announced Tuesday that its subsidiary, Weather Telematics Inc (WTX), has formalized a strategic product integration partnership with commercial fleet technology company Propel IT Inc. The new partnership is designed to significantly enhance the real-time road hazard data available to drivers and dispatchers. WTX's hyperlocal, advanced road weather hazard alert system warns drivers of impending dangerous conditions such as black ice, poor visibility and hydroplaning, the company said. Once commercially deployed and integrated, the Alert Fleet system will run as a Software-as-a-Service (SaaS ) model with a monthly recurring revenue component proportionate to the number of vehicles within a customer's fleet, it added.

Maverix Metals Inc (NYSEAMERICAN:MMX) (TSE:MMX) (FRA:7781) posted 4Q and FY2020 results on Tuesday, which were highlighted by record revenue and profits. The royalty company’s 4Q 2020 revenue came in at US$16.6 million from 8,836 gold equivalent ounces sold, and a net income of US$5.3 million. For FY2020, Maverix delivered record revenue of US$51.7 million from a record of gold ounces sold – 28,916 ounces, according to a statement. 

KWESST Micro Systems Inc (CVE:KWE) (OTCQB:KWEMF) said it has received confirmation from intellectual property counsel that provisional patents for a proprietary non-lethal munitions technology system referred to as the Low Energy Cartridge (LEC) technology have been filed by David Luxton, the inventor of the technology. The developer of high-value ultra-miniaturized technology for the defense and security markets said the patents will be transferred to the company upon the closing of its planned acquisition of the LEC technology, which was originally announced in January. 

BTU Metals Corp (CVE:BTU) (OTCMKTS:BTUMF) has expanded its already commanding position in Red Lake, Ontario by striking a deal with GoldON Resources Ltd (CVE:GLD) (OTCMKTS:NCMBF) (FRA:6NR2) to earn up to 80% of the neighboring Pakwash North property. The new 3,000 hectares asset is next to the east and southeast boundaries of BTU's Dixie Halo project and also neighbors Great Bear Resources Ltd's (CVE:GBR) (OTCMKTS:GTBAF) (FRA:0G6A) Pakwash property.

LeanLife Health Inc (CSE:LLP) (FRA:LL1) (OTCPINK:LNLHF) announced Tuesday that the first containers of its Mike Tyson-branded energy drink Iron Energy will arrive in Los Angeles on April 2. Once the containers have landed and cleared customs, they will be stored in the company's warehouse storage facility in Arizona, LeanLife said. From there, the containers will be distributed to major national retailers, convenience stores and online retailers' warehouses.

Newrange Gold Corp (CVE:NRG) (OTCMKTS:NRGOF) (FRA:X6C) said that the expanded Induced Polarization (IP) survey on its Pamlico Project in mining-friendly Nevada had been successfully completed, and the company considered it “prudent to enlarge the property” to cover as much of the new anomalies as possible. The precious metals exploration company said the new survey comprised 56.35-line kilometers, bringing the total, including the 2019-20 survey, to more than 76.5-line kilometers, covering the entire property.

American Battery Metals Corporation (OTCQB:ABML), which is in the process of changing its name to American Battery Technology Company, said it has established a new development center at the Nevada Center for Applied Research at the University of Nevada Reno (UNR). The company said while its recycling facility and innovation center is being built in Fernley, Nevada, the UNR lab space will complement its facilities at Greentown Labs in Cambridge Massachusetts, and will afford American Battery Metal access to UNR facilities, equipment, faculty, and students. 

BMEX Gold Inc (CVE:BMEX) (OTCMKTS:MRIRF) (FRA:8M0) has reported encouraging drill results from the first phase exploration at its King Tut gold project in Quebec and revealed it had appointed a new interim chief executive. The explorer has now completed 19 holes at King Tut and today's assays come from two, which were drilled at the up-dip extension of the main mineralized trend. Highlight assays included 1.8 grams per ton (g/t) gold over a length of 2.1 metres (m) from a depth of 15.7m in one hole, and 1.4 g/t of the yellow metal in an intercept of 1.8m from 3.7m depth. The company is still awaiting assays from over 1,180 samples from King Tut.

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) revealed  on Tuesday that it has signed an expansion of its US supply and distribution agreement with Geocann LLC for a portfolio of cannabinoid products utilizing the patented VESIsorb delivery system for optimized absorption and stability. The Toronto-based cannabis company said the agreement includes “strategic channels” in the Canadian marketplace that are currently accessible via the Canadian Cannabis Act.

Victory Resources Corporation (CSE:VR) (OTCMKTS:VRCFF) (FRA:VR62) announced that it has completed a geological program on its newly-acquired Smokey Lithium property in Nevada. The two-day reconnaissance sampling program, carried out on March 19 and 20, was initiated to provide a preliminary assessment of the geology of the property, collect samples from select areas of interest, and assess access to the claims. The company also noted that mudstones were observed on the property similar to those on the adjacent Jindalee Property, where mudstones have returned assays up to 930 parts per million (ppm) lithium. 

ImagineAR Inc (CSE:IP) (OTCQB:IPNFF) (FRA:GMS1) said it has secured another three-year agreement with Global Sports Initiatives (GSI). The creator of mobile phone augmented reality (AR) engagement campaigns said the white-label mobile app deal is for a $380,000 guarantee, plus revenue sharing and follows a strategic partnership between the two companies announced in February. 

Todos Medical Ltd (OTCQB:TOMDF) announced Tuesday that it has entered into an automation and reagent supply agreement with MAJL Diagnostics. Under the terms of the agreement, Todos said it will implement its automation solution, including Tecan liquid handlers, automated RNA extraction machines, and a 384-well PCR machine capable of conducting coronavirus, cancer genetics, and pharmacogenomics testing, to become the provider of all coronavirus (COVID-19) PCR testing reagents and supplies. Upon completion of the automation process, the company said that MAJL will be capable of processing about 1,500 PCR COVID-19 tests per day. 

Mawson Gold Limited (TSE:MAW) (OTCPINK:MWSNF) (FRA:MXR) has unveiled new assay results from its Sunday Creek project in Australia that showcased the deepest and best drill result to date. Diamond drill hole MDDSC0012 was drilled 110 metres vertically below the historic Apollo mine workings and intersected thick and high-grade mineralized intervals over a combined width of 36.4 metres at 2.4 grams per ton (g/t) gold and 0.4% antimony from 177 metres. Other intervals included 13 metres at 1.7 g/t gold and 0.14% antimony from 177 metres, including 0.8 metres at 11.4 g/t gold and 0.9% antimony from 178 metres; and 17.7 metres at 3.7 g/t gold and 0.7% antimony from 196 metres.

TRACON Pharmaceuticals (NASDAQ:TCON) has announced that a poster highlighting the pivotal Phase 2 ENVASARC clinical trial will be presented at the upcoming American Association for Cancer Research (AACR) virtual meeting, being held April 10-15, 2021. The poster will include an oral review by Sandra D’Angelo, from Memorial Sloan Kettering Cancer Center. Poster Title: ENVASARC: A Pivotal Trial of Envafolimab, and Envafolimab in Combination with Ipilimumab, in Patients with Advanced or Metastatic Undifferentiated Pleomorphic Sarcoma or Myxofibrosarcoma who have Progressed on Prior Chemotherapy; Session Category: Phase II Clinical Trials in Progress; Date Available: April 10, 2021; Poster Number: CT239; Abstract Link: https://www.abstractsonline.com/pp8/#!/9325/presentation/484. The poster will be available on the publications page of the company’s website following presentation.

OTC Markets Group Inc. (OTCQX: OTCM), the operator of financial markets for 11,000 US and global securities, has announced that TAAT Lifestyle & Wellness Ltd. (CSE:TAAT) (TCQX:TOBAF), the innovator of a nicotine-free and tobacco-free alternative to tobacco cigarettes, has qualified to trade on the OTCQX Best Market and has today upgraded from the OTCQB Venture Market. The OTCQX Market is designed for established, investor-focused US and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among US investors. TAAT CEO Setti Coscarella commented: "This is our second upgrade in less than six months, and I believe that trading on OTCQX is a strong reflection of our progress made to date. After introducing TAAT in Ohio in Q4 2020, we launched our online sales portal earlier this quarter, which makes our product line available to the majority of smokers aged 21+ in the United States. We are working towards building even more traction in 2021, and I believe that our quotation on OTCQX can play an important role in our near-term growth."  

Real Luck Group Ltd (CVE:LUCK) and its subsidiary companies doing business as Luckbox, a provider of legal, real money esports betting announced that it has applied for certification on the OTCQB Venture Market under trading symbol 'LUKEF'. Real Luck Group Chief Financial Officer Ran Kaspi commented: "We have a significant amount of interest from American investors as the esports betting market continues to grow globally and we are keen to increase our exposure to a wider investor base. As we continue to strive to execute on our ambition of becoming a world-leading esports betting platform, we are excited to showcase our achievements to a growing base of US and international investors."

Nextleaf Solutions Ltd. (CSE:OILS) (OTCQB:OILFF) (FRA:L0MA) announced that it has implemented a warrant exercise incentive program designed to encourage exercise of up to 10,400,000 of its outstanding share purchase warrants expiring on May 15, 2021. The company said it will amend the exercise price of the warrants from $0.70 per common share of the company to $0.265 per share, subject to an acceleration clause if, for any 10 consecutive trading days during the unexpired term of the warrants the closing price of its shares on the Canadian Securities Exchange exceeds $0.33. Under the incentive program, the company is offering an inducement to each warrant holder who exercises their warrants prior to May 15, 2021, of one additional share purchase warrant for each warrant exercised. Each Incentive warrant will entitle the holder to purchase one additional share at $0.35 per share until May 15, 2022, also subject to an acceleration clause if, for any 10 consecutive trading days during the term, the closing price of its shares on the CSE exceeds $0.44. In addition, Nextleaf said it has issued an aggregate of 24,528 shares at a price of $0.265 per share, representing an aggregate value of $6,500, to consultants of the company, as compensation for services provided.

Lexaria Bioscience Corp. (NASDAQ:LEXX) (NASDAQ:LEXXW) (CSE:LXX), a global innovator in drug delivery platforms, has announced that its CEO Chris Bunka is presenting at the Benzinga Biotech Small Cap Conference on March 24, 2021, at 9.45am ET. It said Bunka will provide an overview of the company, including its DehydraTECH drug delivery technology that improves the way active pharmaceutical ingredients enter the bloodstream. He will also discuss R&D programs that have been commenced to evaluate delivery effectiveness of DehydraTECH-processed cannabidiol (CBD) for hypertension, antiviral applications for SARS diseases and other infectious diseases, as well as other strategic initiatives. Investors can register for the event using the following link: https://events.benzinga.com/registration-page16068526119171607978331877

American Resources Corporation (NASDAQ:AREC) has released its new and updated corporate presentation. The company's revised corporate presentation aims to provide a more comprehensive overview of the Company's three operating divisions: American Carbon, American Metals, and most notably, American Rare Earth. Mark LaVerghetta, American Resources vice president of Corporate Finance and Communications commented: "Given the repositioning and innovation of the Company over the past year, it is important for us to provide interested parties with a more current overview. Specific to American Rare Earth, we feel that it is important to lay out the collective technologies behind our ‘Capture - Process - Purify' process chain and how we are approaching the restoration of the domestic REE supply chain in the most environmentally positive of ways, while at the same time adhering to our efficient and low-cost standards. We feel our feedstocks, process and approach will continue to differentiate us and make us extremely competitive on the global stage." The new corporate presentation is accessible on the company's Investor Relations page of its website or can be viewed by using the following link: https://uploads-ssl.webflow.com/5aafef3a67150adc031ae667/6054d77d965138716246681f_AREC_Investor%20Presentation_2021_3.21.pdf. Additionally, an audio replay of American Resources' fourth quarter of 2020 and year-end conference call is also available on the company's Investor Relations page of its website or can be accessed via the following link: https://www.youtube.com/watch?v=1vXxGz95xmU

Arcadia Biosciences, Inc. (NASDAQ:RKDA) has announced that it will release its 2020 fourth-quarter and full-year financial and business results after market close on March 30, 2021. The company said it has scheduled a conference call for 4.30pm Eastern time (1.30pm Pacific time) to discuss the results and the year's key strategic achievements. Interested participants can join the conference call using the following numbers: US Toll-Free Dial-In +1-844-243-4690; International Dial-In +1-225-283-0138; Conference ID 3439747. A live webcast of the conference call will be available on the Investors section of Arcadia's website at www.arcadiabio.com. Following completion of the call, a recorded replay will be available on the company's investor website.

Gold Resource Corporation (NYSEAMERICAN:GORO) has declared its monthly dividend of one-third of a cent per common share for March 2021 payable on April 23, 2021, to shareholders of record as of April 12, 2021. The company offers its shareholders the option to convert their cash dividends into physical gold and/or silver and take delivery. For more information on Gold Resource Corporation's physical dividend program, investors can visit the company website at: https://goldresourcecorp.com/investors/stock-info/

Planet 13 Holdings Inc. (CSE:PLTH) (OTCQB:PLNHF), a leading vertically-integrated Nevada cannabis company has said it plans to release its financial results for the fourth quarter and year ended December 31, 2020, on April 5, 2021, after the market close. The company said it will host a conference call on April 5, 2021, at 5.00pm EST to discuss the results and provide investors with key business highlights. The call will be chaired by Planet 13's co-CEO's Bob Groesbeck and Larry Scheffler, and its CFO Dennis Logan Participant Dial-in details: Toll-Free 877-407-8035 or International 201-689-8035. Replay Dial-in: Toll-Free 877-481-4010 or International 919-882-2331 (Available for 2 weeks); Reference Number: 40511. To listen to the webcast  investors can use the following link: https://bit.ly/393yrjE

Bioasis Technologies Inc. (CVE:BTI) (OTCQB:BIOAF),a pre-clinical, research-stage biopharmaceutical company announced that it has applied for approval from the TSX Venture Exchange to extend the expiry date of 5,797,795 common share purchase warrants issued to subscribers pursuant to the private placement of units which closed on April 11, 2017, and to amend the exercise price of the warrants. Bioasis intends to extend the expiry date of the warrants from April 11, 2021, until April 11, 2022, and to reduce the exercise price from $1.00 to $0.85.

PsyBio Therapeutics Corp. (CVE:PSYB) announced that Evan Levine, its chief executive officer, and his team joined Dani Lipkin, director, Global Business Development of TMX Group to celebrate the company's new listing on TSX Venture Exchange and close the market on Monday. PsyBio is a US-based biotechnology company developing a new class of drugs intended for the potential treatment of mental health challenges and other disorders. In collaboration with Miami University based in Oxford, Ohio, PsyBio has retained the global exclusive rights to a proprietary platform technology that biologically synthesizes psilocybin and other targeted next generation psychoactive compounds that are produced naturally in fungi and plants.

Safe-T Group Ltd. (NASDAQ:SFET) (TASE:SFET), a provider of secure access solutions and intelligent data collection, said Benzinga has featured an interview by Shachar Daniel, its] co-founder and chief executive officer, discussing the company’s innovative Cyber-Security technology and growth strategy. To watch the interview, investors can use the following link: https://www.youtube.com/watch?v=T2MnX4xYcNs

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