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NA Proactive news snapshot: Empress Royalty, District Metals, Marvel Discovery, MagicMed Industries, Arrow Exploration UPDATE...

Last updated: 16:00 05 Jul 2021 EDT, First published: 10:40 05 Jul 2021 EDT

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Research Capital Corporation has initiated coverage on Canadian royalty company Empress Royalty Corp.ration (CVE:EMPR) (OTCQB:EMPYF) (FRA:53G), calling it a “different kind of royalty company” with a big year ahead. The research firm has a ‘Buy’ rating and C$0.70 price target on the TSX Venture-listed stock. Vancouver-based Empress is focused on writing royalties and streaming agreements on development to production stage mining projects rather than acquiring existing royalties.

District Metals Corp (CVE:DMX) (OTCMKTS:MKVNF) (FRA:DFPP) has revealed assay results of nine drill holes from its Tomtebo project in Sweden, which included strong zinc-lead-silver dominant mineralization. The results, from a maiden drill program on the property, clearly indicate that the Tomtebo property contains a large, intense, syn-volcanic polymetallic mineral system, the company said. Drill hole TOM21-004 encountered strong zinc-lead-silver dominant mineralization at the Oscarsgruvan zone, and holes TOM21-005 to -012 encountered variable grades and widths of zinc-lead-silver and copper-gold dominant mineralization at the Steffenburgs zone.

Marvel Discovery Corp (CVE:MARV) (OTCQB:IMTFF) (FRA:O4T1) said it has received its second of three rounds of assay results from the 2021 exploration on its Blackfly Gold Project in Ontario, which included a sample that returned 52.5 grams per tonne (g/t) gold. The company noted the high-grade sample was found in a potential new gold zone southeast of the shaft area, which is expected to become a new drill target.

MagicMed Industries Inc said in a corporate update that it will have more opportunities to bring new psychedelic therapies to market once its amalgamation with Enveric Biosciences Inc (NASDAQ:ENVB) closes. In a brief update, MagicMed told shareholders that the two companies are "working diligently" to finalize the definitive agreement to close their amalgamation. “MagicMed is focused on continuing the buildout of the Psybrary, implementing our PsyAI drug discovery tool, expanding our management and science teams, filing additional patents, and ramping up efforts to establish key biotechnology and pharmaceutical partnerships,” MagicMed CEO Joseph Tucker said in a letter to shareholders.

Arrow Exploration Corp. (CVE:AXL) has said it plans to raise $12 million from investors in an expanded capital program as it moves ahead with a dual listing of its stock on the AIM market of the London Stock Exchange. The proceeds of the capital raise will help fund the drilling of two wells at its Rio Cravo Este property and one well at Carrizales Norte, with the balance used for additional working capital.

Marble Financial Inc (CSE:MRBL) (OTCMKTS:MRBLF) (FRA:2V0) has boosted its team with the appointment of two heavyweights with technology, capital markets and special situations experience to help advance the AI-driven Fintech company. Lawrence Rhee has been appointed to the firm's management advisory team, while Michael Feola will join the board of directors. 

NEO Battery Materials Ltd (CVE:NBM) (OTCPINK:NBMFF) has announced a boost for its technology, saying testing it with metallurgical grade silicon (Si) microparticles in cells had shown no major loss of performance in the battery. This is a step-change for the company, it told investors, because, on average, silicon microparticles are between eight and ten times cheaper than silicon nanoparticles, so using these micron-sized (μm) silicon particles means significant cost reductions and flexibility of applying NEO's technology onto various silicon particle sizes.

Xigem Technologies Corporation (CSE:XIGM) (FRA:2C1) announced it had applied to list its shares on the OTCQB Venture Market.  The OTCQB market is built for early-stage companies to help enhance liquidity and valuation in the US, allowing international companies to trade in the US with lower costs and complexities. 

First Mining Gold Corp (TSE:FF) (OTCQX:FFMGF) (FRA:FMG) said that a forest fire is currently active within one kilometre of the camp at the company's Springpole Gold Project in northwestern Ontario.  The gold miner said fire crews from the Ministry of Natural Resources and Forestry have been working on containment measures over the weekend, including both ground and aerial suppression through the use of water bomber aircraft and helicopters. Due to the proximity of the forest fire, First Mining said it had temporarily suspended operations at Springpole as MNRF firefighters work to contain the fire. The company thanked the MNRF firefighters and its air service partners “who played a critical role in demobilizing personnel from site safely and efficiently.”

Vox Royalty Corp. (CVE:VOX) announced that it has entered into definitive transaction documentation with Electric Royalties Ltd. (CVE:ELEC) for Electric Royalties to acquire a portfolio of two graphite royalties from Vox for C$2,850,000 in shares of Electric Royalties and a C$50,000 cash non-refundable exclusivity payment, as announced in a press release dated May 18, 2021. Closing of the transaction is conditional upon completion of customary conditions including the approval of the TSX Venture Exchange.

Empress Royalty Corp. (CVE:EMPR) (OTCQB:EMPYF) has reported that Terra Capital Natural Resource Fund has purchased 500,000 common shares of the company in the market thereby increasing its holdings to a total of 14,383,461 common shares. Jeremy Bond commented on the reason for Terra Capital increasing its shareholding in Empress: "Since its inception less than one year ago Empress has developed a unique business strategy and transformed itself through the creation of three new royalties and streams on development stage projects. As Empress continues to deliver and execute on its growth plans by including producing assets in its portfolio, I expect its shares to re-rate materially." Prior to the acquisition, Terra Capital owned or controlled 13,883,461 common shares of the company representing 13.28% of the issued and outstanding shares and 14.1% assuming the exercise of 1,000,000 share purchase warrants held by Terra Capital. After the market acquisition of 500,000 common shares Terra Capital now owns or controls 14,383,461 common share of the company representing 13.75% of the outstanding common shares and 14.57% assuming the exercise the warrants, reflecting an increase of 0.5% of the 104,574,385 issued and outstanding common shares of Empress. Terra Capital has a long-term view of the investment and may acquire additional securities either on the open market or through private acquisitions or sell the securities either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

XPhyto Therapeutics Corp. (CSE:XPHY) (OTCQB:XPHYF) (FRA:4XT) has said that under its advertising agreement with AGORA Internet Relations Corp. dated December 1, 2020 , the company issued 7.957 common shares on June 17, 2021, to AGORA in consideration for advertising services provided to the Company during the period ended May 31, 2021. Additional AGORA will be issued shares on August 31, 2021, and December 31, 2021. The AGORA Shares were issued at a price of $2.13 per share and are subject to a hold period ending on October 18, 2021, in accordance with applicable securities legislation. Following the issuance of the AGORA Shares, AGORA holds 20,549 common shares of the company, representing 0.03% of the issued and outstanding common shares.

NorthWest Copper Corp. (CVE:NWST) has announced the filing on SEDAR of an updated mineral resource estimate for its high-grade Cu-Au-Ag Stardust deposit in central British Columbia.   The mineral resource estimate results were previously disclosed in the Company’s news release dated May 17, 2021. The technical report is entitled “Stardust Project – Updated Mineral Resource Estimate”, effective May 17, 2021 and signed July 2, 2021, was authored by Ronald G. Simpson, principal, Geosim Services Inc., an independent Qualified Person, and is in accordance with the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Technical report will also be available on the company’s website at www.northwestcopper.ca.

Canada Silver Cobalt Works Inc (CVE:CCW) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement announced June 29, 2021, which will see the 1,063,830 flow-through shares and 2,941,176 Quebec flow-through shares at purchase prices of 47 cents per flow-through share and 51 cents per Quebec flow-through share, together with 2,002,503 share purchase warrants with an exercise price of 60 cents for a two-year period with two placees.

Ximen Mining Corp. (CVE:XIM) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement announced on June 30, 2021, which will see the issue of  800,000 shares at a purchase price of 25 cents per share, together with 800,000 share purchase warrants with an exercise price of 35 cents for a three-year period with one placee.

Powertap Hydrogen Capital Corp. (CVE:MOVE) said it has granted an aggregate of 48.43 million restricted share units (RSUs) to directors, officers and consultants of the company. The RSUs will vest over a period of two to four months with certain RSUs having predetermined milestones that need to be met in order to vest. The RSUs shall entitle the eligible parties the ability to acquire one common share of the company underlying each such RSU by delivering a notice of acquisition to the company in accordance with the RSU plan for a period of five years from issuance. In accordance with the RSU plan, the RSUs were priced at $1.2569 based on the previous five-day volume-weighted average trading price, calculated by dividing the total value by the total volume of securities traded for the relevant period. The company also announced that it has renewed its engagement with First Marketing GmbH, a leading investor relations and marketing firm based in Heidelberg, Germany, to continue providing marketing services for an additional period of six months, focused on the European markets. The company agreed to reimburse the service provider up to one million euros for distribution and advertising costs, and grant to the principals of First Marketing an aggregate of 12 million RSUs to develop required content and artwork and to launch its market awareness programs in the European Union over a six-month period. These compensation RSUs form part of the RSU grants referenced above and will vest in thirds on the second, third and fourth month from the grant date.

Major Precious Metals Corp. (CSE:SIZE) (OTCMKTS:SIZYF) (FRA:3EZ) has announced that it will host a Town Hall Meeting on Wednesday, July 7, 2021, at 10.00am EDT. Tony Williams, chairman and CEO of Major Precious Metals, will be providing shareholders and interested stakeholders with an update on the Skaergaard Project in Greenland, the company’s flagship project and one of the largest palladium and gold deposits outside the major PGM producing areas of Russia and South Africa. He will also discuss the recent financing announced on June 14, 2021. The presentation will be followed by a question-and-answer session where attendees will be able to ask any questions they may have of management. To register for the Town Hall Meeting, investors can use the following link: https://www.bigmarker.com/ftmig1/Major-Precious-Metals-July-Town-Hall?utm_bmcr_source=irinc

Aurania Resources Ltd. (CVE:ARU) (OTCQB:AUIAF) (FRA:20Q) has announced its participation in Noble Capital Markets' Virtual Road Show Series, presented by Channelchek, scheduled for July 6, 2021. The virtual road show will feature a corporate presentation from Aurania Resources president & director Dr Richard Spencer, followed by a Q & A session moderated by Noble Senior Research Analyst, Mark Reichman, featuring questions submitted by the audience. The live broadcast of the virtual roadshow is scheduled for July 6, 2021, at 1.00pm EDT. Registration is free and open to all investors, at any level via the following link: https://register.gotowebinar.com/register/4736178637105915148

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