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NA Proactive news snapshot: District Metals, Ocean Power Technologies, Plurilock Security, CareRx, AmeraMex International, Argentina Lithium & Energy, Love Pharma UPDATE...

Last updated: 17:00 03 Oct 2022 EDT, First published: 10:00 03 Oct 2022 EDT

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District Metals Corp told investors it had kicked off a soil sampling program at its Gruvberget project in Sweden using ionic leach (IL) analysis after this method was shown to be superior at identifying polymetallic mineralization in bedrock than conventional analysis. The new program will cover four target areas, which were previously identified via geophysical anomalies and historical mineral occurrences. The results will help prioritize drill targets and will be reported before the end of 2022.

Ocean Power Technologies (NASDAQ:OPTT) Inc (OPT) revealed that the company’s CEO Dr Philipp Stratmann will be a panelist at Economist Impact’s two-day World Ocean Tech and Innovation Summit starting on October 4, 2022. The two-day event in Halifax, Canada will showcase local innovations that have the potential to be scaled globally, and bring business leaders, investors and scientists to unleash new opportunities for cross-border partnership. OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productiveocean operations for the defense and security, oil and gas, science and research, and offshore windmarkets. The firm’s flagship PowerBuoy platforms provides clean and reliable electric power and real-time data communications for remote maritime and subsea applications. It also provides WAM-V autonomous surface vessels (ASVs) and marine robotics services through its subsidiary MarineAdvanced Robotics. OPT is headquartered in Monroe Township, New Jersey, and has offices in Houston, Texas, and Richmond, California.

Plurilock Security Inc said its wholly-owned subsidiary Aurora Systems Consulting, Inc. has received a $2.8 million, three-year purchase order from a leading US food, facilities and uniform services provider. Under the terms of the order, Aurora will provide the customer with Fortinet’s global firewall solutions. It also includes a fixed renewal price and enables the customer to make a total of three annualized payments. “We are delighted to receive this multi-year purchase order from a top-tier U.S. customer, which bodes well for our sales pipeline,” said Ian L. Paterson, CEO of Plurilock.

CareRx Corporation (TSX:CRRX) said it has signed a multi-year contract to provide pharmacy services to residents in multiple seniors living facilities in Atlantic Canada, initially serving up to 600 residents. CareRx is currently in the process of establishing pharmacy operations in Atlantic Canada and expects to commence servicing homes in the third quarter of 2023. "Establishing a presence in Atlantic Canada is another significant step in our growth journey and will further strengthen our position as the national leader in seniors pharmacy services," said David Murphy, CareRx president and CEO in a statement.

AmeraMex International (OTCQB:AMMX) Inc announced that it has received equipment orders totaling $1.9 million. “We are just finishing our third quarter and as mentioned in our Second Quarter Financial Release, we had a $3 million backlog of equipment to ship this quarter in addition to our third quarter sales,” CEO Lee Hamre said in a statement. “The equipment we refurbish is exceptionally large and after it is refurbished, it is broken down into multiple pieces and trucked to the customer. Once the equipment has arrived, a mechanic is flown in to have the equipment reassembled. We have a hardworking team and expect another great year for the company,” Hamre added.

Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQB:PNXLF) has announced what it called positive lithium brine values from the second diamond drill hole at its Rincon West project in Argentina, which included an “impressive concentrated brine aquifer, tested with packer sampling over approximately 77% of the interval between 182 and 305 metres (m) depths, with lithium values ranging from 337 to 367 milligrams per litre.” “The results of the second exploration hole demonstrate remarkably consistent lithium grades, when compared to the first,” Argentina Lithium & Energy vice president of exploration Miles Rideout said in a statement.

Love Pharma (CSE:LUV) Inc has unveiled operation 'Clean Hands' - a community program aimed at putting sanitizer products in the hands of people who need them most. The sexual health and wellness firm said its subsidiary Doc Hygiene Pharmaceuticals had launched the program in the US state of California, delivering sanitizer products to homeless shelters. Also in the statement, the company said it had completed a second tranche of a non-brokered private placing, bringing in gross proceeds of C$217,000. In all, the firm raised a total of C$513,450 - issuing around 36.7 million units and 108,000 broker warrants.

Zoglo's Incredible Food Corp announced that veteran chartered accountant and business valuator Doug Harris has been named its new chief financial officer, effective October 1. Harris brings over 20 years of financial services experience, having worked in accounting, corporate finance, private equity, and mergers and acquisitions. Over the course of his career, he has participated in more than $2 billion worth of transactions.

Wishpond Technologies Ltd said it has completed the integration of its recently acquired subsidiary Viral Loops Technologies Inc, resulting in improved growth in the combined businesses due to greater cross-selling and bundling opportunities with larger deal sizes. Wishpond said it now offers Viral Loops’ referral marketing software platform to its customers, allowing Viral Loops to reach a larger customer base while increasing the value of Wishpond’s bundled packages and the company’s average revenue per user. Wishpond added that its customers also benefit from having access to a wider range of solutions to grow their online business.

PlantX Life Inc announced that it has entered into a new ecommerce partnership with The Very Good Food Company Inc, an emerging plant-based food technology company that offers a premium product portfolio of minimally-processed, whole ingredients, and taste-forward plant-based meats and cheeses. The digital one-stop-shop for plant-based products said the partnership will see PlantX will execute ecommerce logistics operations for Very Good, including warehousing inventory and fulfillment of orders for customers visiting Very Good's verygoodbutchers.com website in the US.

BioHarvest Sciences Inc said the third-quarter sales orders of its flagship VINIA red grape supplement reached a record of US$1.71 million, representing a 145% growth year-over-year and 81% growth compared to the second quarter of 2022. The company said following the mid-August scale up of its marketing activities, 3Q sales in the US reached US$1.08 million, which represents a 350% increase over the year-ago period and 200% over the previous quarter. This includes five times the number of new customers buying VINIA, a red grape cell product containing the whole matrix of polyphenols contained in red grapes, which is aimed at improving cardiovascular health, according to BioHarvest.

FansUnite Entertainment Inc (TSX:FANS, OTCQX:FUNFF) said new business deals have been finalized in the United States markets, while the company is expanding in the United Kingdom through new partnerships with local sportsbooks. In a sweeping corporate update, the global sports and entertainment company also talked about its robust financial position. As of June 30, 2022, FansUnite has a strong balance sheet with $8.8 million in working capital and $160.6 million in total assets. The company said it doesn’t need to raise additional growth capital. On an annualized basis, FansUnite has eliminated over $2.5 million in operating costs without impacting its revenue channels. "Following the recent announcement of our restructured earn-out obligations, we are focused on streamlining our operations and optimizing our key revenue drivers," said FansUnite CEO Scott Burton.

Kenorland Minerals Ltd (TSX-V:KLD) has entered into a definitive purchase agreement with Jayden Resources Ltd to sell a 100% interest in its Wheatcroft project in Manitoba, the company announced. As payment, Jayden will issue more than 5.5 million common shares and pay $125,000 in cash at closing to Kenorland, along with a 3% net smelter royalty. The deal is expected to close in the fourth quarter.

Cardiol Therapeutics (TSX:CRDL, NASDAQ:CRDL) Inc has revealed new study results that demonstrate the active pharmaceutical ingredient in CardiolRx inhibits, and promotes, the reversal of mechanisms known to play a role in the occurrence and development of fibrotic cardiovascular disease. Previous research showed that CardiolRx – the company’s oral pharmaceutical that is being clinically developed for use in cardiovascular disease – preserves cardiac function in a pre-clinical model of heart failure. Results from the latest study help strengthen evidence of the cardioprotective properties of CardiolRx, suggesting anti-fibrotic mechanisms with therapeutic potential in heart failure, according to Cardiol.

Silvercorp Metals Inc (TSX:SVM, AMEX:SVM) has announced the appointment of Ken Robertson to the company’s board of directors. A chartered professional accountant with more than 35 years of public accounting experience in Canada and England, Robertson was a Partner and Global Mining & Metals Group Leader with Ernst & Young LLP, where he developed extensive experience in initial public offerings, financings, governance, and securities regulatory compliance. Robertson holds a Bachelor of Commerce degree from McMaster University and the ICD.D designation from the Institute of Corporate Directors. Silvercorp also reported that its shareholders have approved all the matters set out for voting at the company’s annual general meeting held on September 30, 2022, including a share-based compensation plan and the re-appointment of Deloitte LLP as auditors for the ensuing year.

World Copper Ltd (TSX-V:WCU, OTCQX:WCUFF) announced that its shareholders have approved all matters put forward at the annual general and special meeting held on September 27, 2022, including the re-election of all directors nominated in the management information circular dated August 15. The company also said it has cancelled an aggregate of 4,585,000 incentive stock options, originally granted under its rolling stock option plan to certain directors, officers, employees and consultants of the company on January 31, 2022, and exercisable until February 1, 2024, at an exercise price of $0.91. In addition, subject to applicable shareholder and TSX Venture Exchange approvals, World Copper has granted incentive stock options under the amended stock option plan, approved by shareholders at the same meeting, to certain directors, officers, employees and consultants of the company to purchase up to 4,755,000 common shares of World Copper. The options are exercisable on or before September 30, 2025 at a price of $0.27 per share. Under the amended stock option plan, the company may grant up to an aggregate of 11,246,172 stock options, and after the grant of the above-mentioned stock options, it will have 491,172 stock options available for grant under the plan.

Sanatana Resources Inc said it has renegotiated the terms of the 2022 option payment for its Gold Rush North property, where it will now pay $22,500 in cash and issue 130,000 common shares of the company. Under the terms of the original option agreement, Sanatana was to pay $40,000 in cash and issue common shares of the company with a value of $40,000 based on a share price equal to the greater of the 30-day volume weighted average price on the TSX Venture Exchange and $0.09 per share. The company said it has also issued a notice of termination regarding the Gold Rush South property, having elected not to make the 2022 option payment. This means it will no longer have an interest in the property and as such, will write off its carrying value. The Gold Rush North Option Share Issuance will be issued under a prospectus exemption, with the shares subject to a hold period expiring on January 30, 2023.

Vicinity Motor Corp has announced the granting of Deferred Share Units (DSUs) to certain eligible directors who have requested for their respective remunerations for 2022 to be paid in DSUs. Accordingly, the company has granted 141,089 DSUs in connection with Directors Remuneration for the third quarter.

Silverton Metals Corp (TSX-V:SVTN, OTCQB:SVTNF) has announced the appointment of Gary Prihar as an independent director of the company who will also serve on the audit committee of the board of directors. Prihar founded Move Health & Wellness and is presently their president. He is also a director of Leveljump Healthcare Corp. A graduate of the University of British Columbia, he is a member of the Chartered Professional Accountants of British Columbia, member of Institute of Chartered Accountants of BC and advisor at Mandala Capital, Inc. Previously, Prihar was president and director at Optima Medical Innovations Corp, president and CFO for VIVA Care Medical, which he founded, and a director of LYTE Investments, Inc.

Great Panther Mining Limited (TSX:GPR, NYSE:GPL) has announced key management changes as part of its strategic initiative to reposition the company, including the appointment of a new chief executive officer. The company said Sandra Daycock will assume the role of President & CEO and will resign from the position of Chief Financial Officer (CFO) effective October 17, 2022, while Alan Hair will resign as interim CEO and will resume the position of Non-Executive Chair of the Board, effective the same date, and Shawn Turkington, the company's Vice President, Finance, will assume the role of CFO.

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...

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