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NA Proactive news snapshot: Cloud DX, Los Andes Copper, Lobe Sciences, Red Pine Exploration UPDATE ...

Last updated: 17:00 01 Sep 2022 EDT, First published: 10:00 01 Sep 2022 EDT

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Cloud DX Inc has announced the appointment of Dr Gaurav Puri to its board as an independent director, effective September 1, 2022. The company said Puri had more than 11 years of emergency medicine experience, including his current appointments as Chief of the Department of Emergency Medicine at Southlake Regional Health Centre and as a lecturer at the University of Toronto. “His experience brings tremendous leadership in the medical field and a track record of advising high-growth medical technology companies, making him a perfect fit for Cloud DX at this stage of our growth,” said Cloud DX CEO Robert Kaul.

Los Andes Copper Ltd has reported that in accordance with the terms of the US$5 million and US$4 million, 8% convertible debentures issued to Queen's Road Capital Investment Ltd on June 2, 2021 and April 4 this year, the firm has elected to issue 7,743 common shares at a deemed price of US$11.17 (C$14.39) to Queen's Road Capital as payment for US$86,489 (C$111,422) in interest owing on the convertible debentures. Under the terms of the convertible debentures, interest is payable quarterly, 5% in cash and 3% in shares, at the greater of:  the 20-day volume weighted average price prior to the interest payment date; or the discounted market price (as such term is defined in the policies of the TSX Venture Exchange. The issue of the shares as payment for interest owing on the convertible debentures is subject to the terms and conditions of the convertible debentures as well as the approval of the TSX-V.

Lobe Sciences Ltd announced that it has entered into a term sheet with Cantheon Capital to raise up US$1.5 million, by means of a convertible note financing that would bear interest at 15% per annum with a term of 12 months, to conduct three clinical trials in Australia with partner iNGENu Pty Ltd.  The Canadian biopharmaceutical company said the convertible notes will help fund the design and conduct of clinical trials evaluating Lobe's proprietary psilocin analogues L-130 or L-131. “The opportunity to advance our proprietary psilocin compounds in multiple human trials puts Lobe in a leading position within the psychedelic biotech marketplace,” Lobe Sciences CEO Philip Young said in a statement.

Red Pine Exploration Inc has reported new results from its 2022 Phase 1 exploration program at the Minto Mine South Deposit of its Wawa Project, with drilling continuing to increase the footprint of mineralization within the area. "The Minto mine drilling results demonstrate that the current Minto Mine Resource is likely of higher grade than currently calculated. Increased drill density of the Minto Mine South Deposit is mitigating the nugget affect we are conscious of," Quentin Yarie, president, and CEO of Red Pine Exploration said in a statement. "These recent drill results represent an important step forward on our progress expanding the current resources at the Wawa Gold Project. Based on our results, the high-grade Minto mineralization could very well become an exciting focal point for Red Pine. With continued drilling success, we anticipate updating the Minto Mine South resource in the following fiscal year," he added.

Algernon Pharmaceuticals Inc told investors it has now received the full data set from its Phase 2a study assessing Ifenprodil to treat idiopathic pulmonary fibrosis (IPF) and chronic cough, and an expert on the former condition has described the results as "excellent". The causes of IPF are not clear but it usually affects people between the ages of 70 and 75 and sees their lungs become scarred, making breathing difficult. Algernon says Ifenprodil is an N-methyl-D-aspartate (NMDA) receptor antagonist and prevents glutamate signalling. The NMDA receptor is found on many tissues including lung cells and T-cells. The full data set from the study included additional secondary measures of efficacy, including both the measurement of lung function and patient-reported outcomes of both IPF and cough.

PyroGenesis Canada Inc has provided an update on the encouraging progress achieved in its joint venture (JV) and license agreement with a leading residue processor. The company said the JV partner has completed primary testing of residues from an operational DROSRITE facility and the results confirm that the residues are of such high quality that they can be processed into highly marketable products. "We are extremely happy to announce today that for the very first time the existing process, around which we are basing the joint venture on, has successfully tested residues from PyroGenesis' DROSRITE metal recovery system," P. Peter Pascali, CEO of PyroGenesis Canada said in a statement.

Amaroq Minerals Ltd said it encountered visible gold at its Eagle's Nest target in Southern Greenland. The company said it re-discovered a historically reported quartz boulder containing the gold and a re-sample returned a gold grade of 10.4 grammes a tonne (g/t). “This result provides strong evidence of further mineralised bodies across Amaroq's Nanortalik Gold Belt mineral assets,” it said in an update on its 2021 exploration programme. Amaroq, formerly AEX Gold, said exploration work confirmed anomalous platinum group metal (PGM) grades at the Saqqaa dyke target and that geophysical surveys defined an eastward extension 3 kilometre along strike from the sampled outcrop.

Kootenay Silver Inc has announced the newest batch of results from the Phase 4 drill program at its Columba high-grade silver project in Mexico, which included 2,330 grams per tonne (g/t) silver across a drill length of 1.63 meters (m), as well as 574 g/t silver over 3.9m. The exploration company said the latest batch of results successfully extend known mineralization beneath existing drilling at both the D Vein and F Vein targets. “Each new batch of results continues to justify our excitement for the Columba Project,” Kootenay Silver CEO James McDonald said in a statement.

Infinity Stone Ventures Corp said it has entered into an option agreement to acquire a 100% interest in the Taiga Lithium project adjacent to Patriot Battery Metals’ Corvette lithium discovery in the James Bay region of Quebec, Canada. The company said the Taiga project has four mapped pegmatites, with the largest measuring over 900 square metres in size. Samples taken from Patriot Battery Metals’ Corvette property, located approximately 1,400 meters (m) north of the Taiga property, averaged 4.6% lithium oxide (Li2O).

Naturally Splendid Enterprises Ltd has announced that its Plantein products have been listed nationally by wholesale food distributor Sysco Canada. Sysco is listing five of the company’s plant-based entrees across Canada in multiple Sysco Distribution outlets. Specifically, the products listed nationally are Plantein Nuggets, Crumbed Tenders, Sweet Chili Tenders, Garlic Kiev and Crispy Burger. These products will now be available to all Sysco customers, which include restaurants, healthcare facilities, schools, universities, hotels, lodging establishments and other food service operators. 

Eskay Mining Corp has announced maiden drilling at Scarlet Valley, a newly identified volcanogenic massive sulfide (VMS) centre near Scarlet Ridge, part of its 100%-controlled Consolidated Eskay project in British Columbia. The company said it has completed 22,272 metres of diamond core drilling, approximately 74% of the 30,000 m planned for completion in 2022. Drill production is currently on target to reach this aggressive goal with four drills fully operational. Currently, two drills are conducting step-out drilling of the Upper Stockwork Zone at TV, and two drills are beginning to define the extent of the intensely mineralized Scarlet Valley target. Preparations are underway to drill the Tarn Lake target immediately following completion of drilling at Scarlet Valley.

Tribe Property Technologies Inc reported that Drew Keddy has joined the group in the new role of chief operating officer (COO) with effect from September 1, 2022. Keddy, who has an extensive background in real estate, will report directly to CEO Joseph Nakhla and focus on organic growth opportunities, operational efficiencies, and accelerating acquisition strategies. "We are pleased to welcome Drew Keddy to Tribe, with his proven expertise leading high-growth real estate operations, Drew will be of immense value as we optimize our processes and continue scaling our operational capacity in our next chapter of growth," said Nakhla in a statement.

Zinc8 Energy Solutions Inc has announced that the company's inaugural commercial production facility will be located in the United States. The company said this is based upon comprehensive analysis done by it, the recently announced Inflation Reduction Act’s (IRA) manufacturing production credits contained within Section 45X provide distinct and the direct benefits to Zinc8 and its production plans in the US. In a statement, Zinc8 Energy Solutions CEO Ron MacDonald said: "Senate majority leader Chuck Schumer was instrumental in drafting the IRA, which is a historic measure taken by the United States to reach ambitious goals of carbon neutrality, while inspiring other countries around the world.”

Kodiak Copper Corp said it appointed has Mark Laycock as its new chief financial officer (CFO) to succeed Tony Ricci, who is stepping down from day-to-day operations and assuming an advisor role.  In a statement, Claudia Tornquist, president and CEO of Kodiak said: "I am pleased to welcome Mark Laycock to the Kodiak team. His in-depth experience in accounting, financial disclosure and financings will be a great asset to the company. “Mark has provided senior accounting services to Kodiak for some time and his outstanding work has made him a natural candidate for the CFO succession. I have no doubt Mark will excel in his new role.” 

AMPD Ventures Inc said it has closed the second and final tranche of the non-brokered private placement it announced on August 4, 2022. In conjunction with the closing, the company issued an additional 8,454,999 Units at a price of C$0.14 per unit for gross proceeds of C$1,183,700, resulting in a total issuance for the private placement of 13,053,571 units for total gross proceeds of C$1,827,500. The company said it intends to use the proceeds from the private placement for the deployment of AMPD infrastructure, to increase headcount, and for general working capital purposes.

Avicanna Inc has announced that all of management's nominees listed in the company's management information circular dated July 28, 2022, were elected as directors of the company at its annual general and special meeting of shareholders held on August 31, 2022. At the meeting, the company's shareholders also approved: (i) fixing the number of directors for the ensuing year at five and empowering the board of directors of the company to adjust such number between shareholder meetings by way of resolution in accordance with the company's constating documents; (ii) the reappointment of Kingston Ross Pasnak LLP as the company's auditors for the ensuing year and authorized the board of directors to fix the auditors' remuneration; and (iii) the unallocated awards under the omnibus long-term incentive plan of the company. It noted that Dr Assad Kazeminy, voluntarily retiring as a director did not stand for election.

Royal Wins Corp said it has filed its interim financial statements, management discussion and analysis, and related CEO (chief executive officer) and CFO (chief financial officer) certifications for the company's fiscal third quarter, ended March 31, 2022. On June 3, 2022, the company announced that it was unable to file its Q3 financials by the May 30, 2022, filing deadline due to the company becoming aware of a material outstanding tax payment in the days prior to the filing deadline. The previous tax obligation is due to the Australian Tax Office by the company's subsidiary Royal Wins Pty. Ltd. and stemmed from the 2016 and 2017 tax years. Along with the filing of the interim financial filings, Royal Wins has filed restated financial statements and management discussion and analysis for the periods ending December 31, 2021, September 30, 2021, and June 30, 2021. The refiled financial statements, MD&A, and related certifications are available on the company's website and SEDAR profile at www.sedar.com.

Solstice Gold Corp said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement announced August 8, 2022, and August 11, 2022, which saw the issue of Hard Dollar (HD) units which consisted of 12,766,667 common shares at a purchase price of 12 cents per common share plus 12,766,667 share purchase warrants with an exercise price of 17 cents for an 18-month period, together with flow-through (FT)  units comprised of 8,707,216 flow-through common shares at a purchase price of 13.5 cents per flow-through common share plus 4,353,607 share purchase warrants with an exercise price of 17 cents for an 18-month period, with 17 placees.

Vyant Bio Inc has announced that it will be presenting at the Skyline Signature Series on Thursday, September 8, 2022, at 12.00pm ET. This will be a live, interactive online event where investors are invited to ask the company questions in real-time. All investors must pre-register via the following link: https://us02web.zoom.us/webinar/register/WN_EX1HMiZkQS69MwIAoytifw. Audio Dial-In: +1 301-715-8592, Webinar ID: 87824712545#

Banxa Holdings Inc has announced that Domenic Carosa, its founder and chairman, will participate at the following conferences: H.C. Wainwright 24th Annual Global Investment Conference in New York, NY, from September 12-14, 2022; BTIG 2nd Annual Digital Assets Virtual Conference from September 19-20, 2022;  and TOKEN2049 Singapore from September 28-29, 2022. Registration is mandatory for participation in the investor conferences. For more information, to schedule a 1-on-1, or to register for the events, interested parties can visit hcwevents or email info@btig.com.

Skye Bioscience Inc said it has filed its definitive proxy statement related to its special meeting to be held online on September 30, 2022. The definitive proxy statement includes all pertinent information related to, among other matters, the proposed business combination between Skye and Emerald Health Therapeutics Inc. Skye's special meeting will take place via live audio webcast at https://web.viewproxy.com/skye/2022 on September 30, 2022, at 9.00am (Pacific time). "We are grateful for the support of Emerald's leadership and greatly appreciate that Emerald shareholders voted in favor of the proposed business combination between our two companies," said Punit Dhillon, CEO and chair of Skye Bioscience. "We now look forward to completing the Skye stockholder voting process. Completing this transaction would provide us with valuable resources to execute our business plan. The votes of all stockholders, small and large, do count. We invite and strongly encourage you to take the time to support your Company with your positive vote, as per the recommendation of Skye's Board of Directors." The definitive proxy statement can be viewed at https://ir.skyebioscience.com/sec-filings/all-sec-filings.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

5 hours, 4 minutes ago