Seeing Machines raises £31.57mln to leverage market opportunities https://www.proactiveinvestors.com/companies/news/218948/seeing-machines-raises-3157mln-to-leverage-market-opportunities-218948.html https://www.proactiveinvestors.com/companies/news/218948/seeing-machines-raises-3157mln-to-leverage-market-opportunities-218948.html Seeing Machines Limited (LON:SEE) has raised £31.57mln following a placing, a subscription and an offer of new shares.

The firm, which develops operator monitoring technology for vehicles including cars and aircraft, said it had raised £27.77mln in a placing and a subscription of new shares from various directors, which were announced on 20 March and 22 March respectively, while the remaining £3.8mln had been raised through an offer to qualifying existing shareholders.

READ: Seeing Machines clinches new design win for FOVIO monitoring tech with US auto OEM

The placing price for the shares was 3p each, a 35% discount to the closing price on 19 March.

At the time the placing was announced, Seeing Machines said the proceeds would be used to develop its core platform as well as increasing the headcount of its research and development team and scaling up its Automotive division.

Ken Kroeger, chief executive of Seeing Machines, said the funds would be “instrumental” in ensuring the company could continue to leverage market opportunities as they “rapidly grow and evolve”.

"We are very pleased with the continued support of our shareholders. The automotive and fleet sectors are increasingly recognising the risks posed by driver inattention and fatigue in single vehicles as well as across commercial and passenger transport. Our industry leading driver monitoring technology … has been consistently validated through regulatory and government recommendations globally.”

The company also said that all resolutions put to shareholders in its general meeting on Tuesday had been duly passed.

In mid-morning trading on Tuesday, Seeing Machines shares were steady at around 3.1p.

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Tue, 23 Apr 2019 10:50:00 -0400
Explorex Resources planning initial drilling at Nevada project as it sorts out portfolio priorities for 2019 https://www.proactiveinvestors.com/companies/news/218959/explorex-resources-planning-initial-drilling-at-nevada-project-as-it-sorts-out-portfolio-priorities-for-2019-218959.html https://www.proactiveinvestors.com/companies/news/218959/explorex-resources-planning-initial-drilling-at-nevada-project-as-it-sorts-out-portfolio-priorities-for-2019-218959.html Explorex Resources Inc (CSE:EX), the energy metals focused group, told investors Tuesday that it will focus its efforts on the Buena Vista Hills iron oxide copper gold (IOCG) project in Nevada and Kagoot Brook site in Canada in 2019.

And the firm is wasting no time as it also revealed it is planning an initial drill program at Buena Vista  consisting of three reverse circulation (RC) holes on private land, which requires no permitting.

READ: Explorex Resources set to buy 100% of Nevada property, which could host large near surface cobalt target

The aim of this work is to confirm previously reported cobalt grades and the extent of mineralization, the group said in a statement.

Last month, the company inked a letter of intent with New Tech Minerals Corp over an option to acquire 100% of Buena Vista.

The project is centered around the past-producing open-pit Segerstrom-Heizer (SH) iron ore mine that produced more than 1.2 million tons between 1943 and 1966 and this initial drilling is designed to target the cobalt mineralization observed near the open pit here.

A significant amount of Cobaltoan iron-sulfide mineralization is exposed in the open pit walls and within the waste dumps, presenting two distinct targets - both of which are near surface.

The potential of an 'at surface' oxidized zone was revealed in a reverse circulation (RC) drill hole completed by the owner Zephyr Minerals in 2008.

The cobalt mineralization was hit under the mine waste at a 6.1 meter depth and graded 0.09% cobalt oxide over 27.4m.

Meanwhile, last year, New Tech collected two magnetite grab samples exhibiting significant pyrite replacement from the open pit waste dump that graded 0.15 and 0.48% cobalt, said Vancouver-based Explorex in Monday's statement.

The samples collected from the dump material revealed a high cobalt tenor and emphasizes the potential for a sizable 'near surface' cobalt iron sulfide mineralized zone below the oxidized cap.

Further holes planned

Further drill holes are planned at Buena Vista and Explorex plans to obtain permits for these holes which are on US Bureau of Land Management (BLM) Lands for this phase 1 program.

As previously reported, to complete the acquisition, Explorex must pay $10,000 in cash and issue a cumulative 400,000 shares to New Tech following a definitive agreement and New Tech satisfying certain obligations. It must also spend US$700,000 on exploration by May 15, 2021.

After reviewing the portfolio, the firm decided to concentrate on the Buena Vista Hills and Kagoot Brook (New Brunswick) projects and will drop the Cobalt-Paragon (Ontario), Chrysler (Ontario) and Handlebar (British Columbia) projects.

"The Buena Vista Hills and Kagoot Brook projects provide a combination of exceptional upside and size potential that fits well with corporate objectives and what the Company perceives can provide greater impact in the market," it said.

Also on Tuesday, Explorex said that Clarmin Exploration Inc (Clarmin) has terminated its option to acquire a 100% interest in the polymetallic Arlington project, which lies around 67km south of Kelowna, BC, and it has been returned to the firm's property portfolio.

The firm expects to realize a value add from the returned asset.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Tue, 23 Apr 2019 08:03:00 -0400
ICC International Cannabis strikes definitive agreement to acquire 49.9% of Wayland Group's International Asset and Licence portfolio https://www.proactiveinvestors.com/companies/news/218958/icc-international-cannabis-strikes-definitive-agreement-to-acquire-499-of-wayland-group-s-international-asset-and-licence-portfolio-218958.html https://www.proactiveinvestors.com/companies/news/218958/icc-international-cannabis-strikes-definitive-agreement-to-acquire-499-of-wayland-group-s-international-asset-and-licence-portfolio-218958.html ICC International Cannabis Corp (CSE:WRLD.U) (OTCMKTS:WLDCF) told investors Tuesday that it has at last struck a definitive agreement to acquire 49.9% of Wayland Group Corp’s (CSE:WAYL) (OTCQB:MRRCF) international assets and license portfolio.

As part of the transaction, Wayland will enter into a three-year supply agreement with ICC that will supply ICC with 10,000 kg annually of dried cannabis flower grown at Wayland’s Langton, Ontario production facility.

The cannabis will be distributed across medical cannabis markets in Europe and is expected to pay ICC more than eight euros per gram.

Under the deal, International Cannabis will issue Wayland 300 million shares in the capital of ICC.

READ: ICC International Cannabis applauds Wayland's new German cannabis production license

Before the deal closes, Wayland’s international asset and license portfolio will be reorganized into Wayland International, a subsidiary, which will be jointly owned and operated by ICC and Wayland. As part of the terms, Wayland will keep the right to appoint the board of directors and management and Matthew McLeod, Wayland's general counsel, has been tapped as the subsidiary's president.

The two companies expect the deal will drive revenues higher as they look to take advantage of economies of scale to improve production, distribution and branding campaigns and enter new cannabis and CBD markets.

“This is a landmark acquisition for International Cannabis. ... Together, ICC and Wayland boast operations in 18 distinct geographies, all with a central function to supply high-quality cannabis to the global market,” said Davis Shpilt, CEO of ICC in a statement.

Ben Ward, CEO of Wayland, is just as bullish on the tie-up.

"The proposed transaction with ICC will help Wayland to execute on the vision and platform established over the past two-and-a-half years to bring medical cannabis to evolving global markets," Ward said in a statement.

READ: International Cannabis ponders listing on major international exchange

The terms of the agreement are consistent with the letter of intent, which first laid out the deal’s terms and was released on January 15.

ICC International is developing an international platform for cannabis cultivation, extraction, formulation and distribution, with operations in the UK, Denmark, Poland, Switzerland, Germany, Macedonia, Bulgaria, Serbia, Croatia, Greece, Italy, Portugal, Malta, Colombia, Argentina, Australia, South Africa and Lesotho.

ICC International Cannabis shares closed up 7.8% to hit C$0.345 on Monday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

-- This story is updated to add comments from Wayland Group --

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Tue, 23 Apr 2019 07:58:00 -0400
FSD Pharma to acquire US specialty R&D pharma company Prismic Pharmaceuticals for US$17.5M in stock https://www.proactiveinvestors.com/companies/news/218957/fsd-pharma-to-acquire-us-specialty-rd-pharma-company-prismic-pharmaceuticals-for-us175m-in-stock-218957.html https://www.proactiveinvestors.com/companies/news/218957/fsd-pharma-to-acquire-us-specialty-rd-pharma-company-prismic-pharmaceuticals-for-us175m-in-stock-218957.html FSD Pharma Inc (CSE:HUGE) (OTCMKTS:FSDDF) announced Tuesday that it has signed an agreement to acquire US-based specialty research and development pharma company Prismic Pharmaceuticals.

The Candian company which grows medical-grade cannabis will acquire all outstanding shares of Prismic for roughly US$17.5 million (CAD$23.4 million), to be satisfied by the issuance of 102.7 million Class B subordinate voting shares in FSD Pharma at a price of US$0.1704 per FSD share.

Shares in FSD Pharma closed 21.5% higher at $0.21 on Monday in the OTC Markets and 21.7% higher at $0.28 in Canada. 

READ: FSD Pharma granted cannabis sales license from Health Canada

In addition, FSD Pharma has agreed to assume up to US$4 million of outstanding Prismic liabilities on terms to be mutually agreed by the two companies, some of which may, potentially, be settled by the issuance of additional FSD Shares. All the outstanding Prismic stock options and warrants will become exercisable into FSD Shares.

The company said the FSD shares to be issued to Prismic shareholders will be deposited “into escrow at the closing of the transaction” and be subject to an “18-month staggered time escrow release.”

Prismic is developing novel non-addictive prescription drugs with unique safety profiles with the goal of addressing the opioid crisis.

Advancing R&D into synthetic cannabinoids

“This transaction symbolizes FSD Pharma’s vision of acquiring a platform company to advance research and development of FDA-approved applications of synthetic cannabinoids and other synergistic molecules,” said FSD Pharma CEO Dr Raza Bokhari. “Led by Peter Moriarty, one of the founders of Shire Pharmaceuticals, Prismic’s management team has built a solid foundation for a specialty pharmaceutical company, and we look forward to providing them with milestone-based support in order to advance proprietary drug candidates through the various development stages.”

Bokhari said the acquisition was “very exciting” for FSD Pharma and represented “a paradigm shift in the development and outlook” of the company.

Prismic has exclusive worldwide licensing rights (except for Italy and Spain) to a patent-protected form of palmitoylethanolamide (micro-PEA with particle sizes of 0.6 – 10 microns), on which Prismic’s development platform is based and from which Prismic’s lead prescription drug candidate, PP-101, has been formulated. Such formulations take advantage of micro-PEA “synergistic” or “entourage” effect on certain drugs impacting the endocannabinoid system.

DEEP DIVE: FSD Pharma aims to have the world's largest hydroponic indoor cannabis production and processing facility

This essentially means that lower doses of those drugs may be administered together with micro-PEA to achieve the desired medecinal effect. This includes the potential combination of micro-PEA formulations with drugs such as THC, CBD, certain anticonvulsants, and opioids where studies have indicated opioid-sparing and tolerance delaying properties of micro-PEA may impact the development of dependence in patients. Prismic’s first prescription drug candidate, PP-101, a 600 mg tablet of micro-PEA, is expected to start a Phase 2/3 accelerated clinical development program in early 2020 as a medication to be administered with pregabalin, or Pfizer’s Lyrica for the treatment of fibromyalgia.

“We are excited to be entering into a new phase of growth with FSD Pharma,' said Prismic co-founder and chairman Peter Moriarty. "We believe our combined resources and highly competent leadership teams will position us to execute on our clinical development programs and on delivering highly effective products that safely address pain, inflammation and neurological disorders with high unmet clinical needs.”

FSD Pharma is headquartered at the former Kraft plant in Cobourg, Ontario in a large facility that sits on 72 acres of land. It grows medical-grade cannabis at its 25,000 square foot facility in Ontario, with an additional 220,000 expected to be added by the end of 2019.

The company intends to target all legal aspects of the cannabis industry: cultivation, processing, manufacturing, extracts and research and development.

-- (Updates with quotes, stock price)-- 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter@UttaraProactive 

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Tue, 23 Apr 2019 07:35:00 -0400
Candy Club expands product line, secures credit facility for further market expansion https://www.proactiveinvestors.com/companies/news/218935/candy-club-expands-product-line-secures-credit-facility-for-further-market-expansion-218935.html https://www.proactiveinvestors.com/companies/news/218935/candy-club-expands-product-line-secures-credit-facility-for-further-market-expansion-218935.html Candy Club Holdings Limited (ASX:CLB) has expanded its product line to twelve additional airports and casino resorts across the US.

The premium confectionary company also secured a revolving credit facility of up to US$1 million from CircleUp Credit Advisors to support current and future growth initiatives.

Specialty retailer Lick currently sells Candy Club products in the Los Angeles, New York La Guardia, Dallas and Charlotte airports, as well as several high-profile resorts and casinos.

Credit facility a strong testament to the business

Candy Club chief executive officer Keith Cohn said this was a large opportunity, with the Lick partnership opening up airport and high-traffic destination resort markets.

According to the CIA World Factbook, Los Angeles International Airport was ranked third in airport operations, with more than 316,000 flights in 2017.

The airport also handled nearly 59 million domestic and close to 24 million international passengers in the 2017 fiscal year.

Cohn added: “The financing line is a strong testament to our business, brand and to the team.

“The business is performing well … it clearly shows that others are taking notice and are willing to back us.”

San Francisco-based CircleUp Credit Advisors, a division of CircleUp, uses its consumer industry expertise to provide early-stage consumer businesses with working capital to generate growth.

 

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Tue, 23 Apr 2019 03:04:00 -0400
Piedmont Lithium to add muscle as it approaches construction decision https://www.proactiveinvestors.com/companies/news/218801/piedmont-lithium-to-add-muscle-as-it-approaches-construction-decision-218801.html https://www.proactiveinvestors.com/companies/news/218801/piedmont-lithium-to-add-muscle-as-it-approaches-construction-decision-218801.html
  • Its drilling activities aim to upgrade its resource base and extend project life
  • Permit applications are with the US Army Corps of Engineers and North Carolina Division of Water Resources
  • Its land acquisition scheme has increased project size
  • The project offers a potential new source of locally-sourced lithium for US buyer
  • Piedmont is expecting to add strategic and financial advisory capacity as it approaches a construction decision
  • What does Piedmont Lithium do?

    Piedmont Lithium Ltd (ASX:PLL) (FRA:PL4) (FRA:PL4A) (NASDAQ:PLL) specialises in exploration and development on the world-class Carolina Tin-Spodumene Belt in the United States. It is run by Keith D Phillips, a 30-year mainstay on Wall Street who worked on more than US$100 billion of transactions and boasts experience leading mining investment teams at Merrill Lynch (NYSE:MER-K) and JPMorgan (NYSE:JPM) (LON:JESC) (NYSEARCA:AMJ) (LON:JII) on his CV.

    What does Piedmont Lithium own?

    The key asset is the wholly-owned Piedmont Lithium Project which lies in North Carolina on a lithium belt home to two historical lithium mines run from the 1950s to the 1990s.

    Carolina Tin-Spodumene Belt (TSB) has easy access to power and infrastructure, including two processing plants opened during the region’s lithium heyday.

    These plants continue to supply product to US customers and are just 20 kilometres from Piedmont project.

    The company, established about three years ago by investment company Apollo Group, hopes to fast-track development of the project and become a domestic supplier to local markets in a Tier 1 jurisdiction valuing energy security for battery metals.

    Piedmont Lithium hopes to capitalise on an expected global shortfall of lithium as demand heats up and aims to progress plans to produce lithium hydroxide, which attracts higher prices.

    A key goal is to is to significantly expand the 13-year project life modelled in the company’s September 2018 updated a scoping study for its namesake project.

    Piedmont project's revised scoping study metrics increased the value of its project by 14% to an after-tax US$888 million (A$1.25 billion) using a net present value (NPV8) calculated at an 8% discount.

    The corresponding internal rate of return was an after-tax 46%, with lithium hydroxide cash costs of US$3,960 a tonne for a two-year payback.

    Battery-grade lithium hydroxide monohydrate grading at least 56.5% was 100,000-110,000 yuan (US$14,826-16,308) a tonne in late December.

    Piedmont Lithium’s scoping study came after a high-grade mineral resource was identified last June. Resources factored into the study were 16.2 million tonnes at 1.12% lithium.

    Steady-state spodumene concentrate production was forecast at 170,000 tonnes a year grading 6% lithium for a steady-state 22,700 tonnes a year of lithium hydroxide over a 13-year project life.

    Piedmont Lithium restarted drilling at the project in January 2019, hoping to use a 25,000-metre phase IV program to increase its resource and expand project life.

    As part of that program, the company has delivered its best ever intersections at the project.

    High-grade mineralisation has been found in 23 holes at Piedmont’s Core and Central properties.

    Reported on in March 2019, outstanding grades from four Central property holes in newly-discovered pegmatites included 43.2 metres at 1.73% lithium oxide, the thickest high-grade interception reported to date for Piedmont project.

    Other stand-outs at Central property were 14.1 metres grading 1.63% lithium and 28.1 metres grading 1.35% lithium, in two more holes.

    Nineteen exploration target holes at Piedmont project’s 868-acre Core property also delivered “strong results consistent with historical drilling”.

    The company has also consolidated landholdings at the project, increasing its ground by 15% in the December quarter of 2018 to 1,383 acres.

    Drill targets from the properties formed part of the 2019 cold-season drilling program.

    The land grabs helped make Piedmont Lithium the biggest lithium landholder in the Carolina TSB, holding 1,824 acres.

    Piedmont Lithium raised $12.2 million (US$8.7 million) from a placement which had its last tranche of $400,000 added to mix in February 2019.

    The placement was designed to fund infill drilling to expand and upgrade the project resource base and fund permit applications, pilot-scale metallurgy, extra engineering studies and more land consolidation.

    Piedmont Lithium had $9.6 million at the end of 2018 and aimed to spend US$4 million in the March quarter, earmarking US$2.9 million for exploration and evaluation.

    The company hopes to later produce a feasibility study for the project.

    It is tracking towards a mid-2019 update for an update to the resource and scoping study for the project.

    The company is appointing new financial and legal advisors as it progresses its development strategy and structures its financial plans.

    Piedmont Lithium's next quarterly report is expect by the end of April 2019.

    Inflection points

    • Upgrade to resource base to extend forecast mine life

    • Key regulatory approvals, including already-submitted permit applications

    • US Government decision-making on the importance of locally-sourced lithium for the nation’s national security

    • Metallurgical test work results and lithium concentrate qualities and consistencies

    • Feasibility study delivery schedules and funding

    • Final investment decisions for staged developments

    • Access to infrastructure, including local plant capacity

    President & CEO Keith D Phillips confident of the value of project

    “We continue to make good progress in several areas critical to our strategy, and remain on-track to begin construction in early-2020, consistent with the schedule we established in late-2017,” Piedmont president & CEO Keith D Phillips said in a project development update two weeks ago.

    “As the only conventional lithium project in the USA, we have attracted considerable strategic interest and have engaged in initial conversations with parties in the lithium, mining, chemicals, battery, automotive, and private equity sectors.

    “We plan to appoint financial and legal advisors in the coming weeks to assist in the evaluation of strategic and financial plans as we approach a construction decision.”

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    Mon, 22 Apr 2019 22:30:00 -0400
    Ceylon Graphite condemns Sri Lankan terror attacks https://www.proactiveinvestors.com/companies/news/218903/ceylon-graphite-condemns-sri-lankan-terror-attacks-218903.html https://www.proactiveinvestors.com/companies/news/218903/ceylon-graphite-condemns-sri-lankan-terror-attacks-218903.html Ceylon Graphite Corp (CVE:CYL) (OTCMKTS:CYLYF) (FSE:CCY) said Monday that it, alongside the people of Sri Lanka, is condemning terrrorism in the country, in the wake of the bombings in Colombo and other parts of Sri Lanka on Easter Sunday.

    "We are deeply saddened by this heinous act against the people of Sri Lanka," said Bharat Parashar, chief executive officer. "Our deepest and sincere sympathies go out to all those affected at this tragic time."

    Ceylon Graphite is exploring and developing graphite mines in historic resource jurisdictions in Sri Lanka.

    READ: Ceylon Graphite takes aim at the purest graphite on Earth

    The company also noted that none of its employees were directly affected by the blasts and work continues as normal.

    Ceylon Graphite holds exploration rights over a land package of around 121 square kilometers in Sri Lanka and has a focus on high-quality vein graphite, which is much rarer than other forms of graphite, such as amorphous or flake graphite.

    Contact Katie Lewis at katie@proactiveinvestors.com

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    Mon, 22 Apr 2019 17:26:00 -0400
    Primary Energy Metals sells British Columbia gold project to Blue Lagoon Capital https://www.proactiveinvestors.com/companies/news/218902/primary-energy-metals-sells-british-columbia-gold-project-to-blue-lagoon-capital-218902.html https://www.proactiveinvestors.com/companies/news/218902/primary-energy-metals-sells-british-columbia-gold-project-to-blue-lagoon-capital-218902.html Primary Energy Metals Inc (CSE:PRIM) (OTCMKTS:PEMTF) has agreed to sell its RD gold and cobalt property to Blue Lagoon Capital Inc in a C$25,000 deal.

    The RD property is located in west-central British Columbia, just north of the Rocher Deboule range and near the junction of the Bulkley and Skeena Rivers.

    READ: Primary Energy Metals bolsters board with cannabis and finance appointee

    The exploration project comprises five contiguous mineral claims that cover an area of around 7,000 hectares.

    Completion of the transaction is subject to completion of filings with the Canadian Securities Exchange, as well as title confirmation of the RD property and a negotiated definitive agreement with Blue Lagoon.

    Contact Angela at angela@proactiveinvestors.com

    Follow her on Twitter @AHarmantas

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    Mon, 22 Apr 2019 16:29:00 -0400
    The Green Organic Dutchman reaches key milestone by securing Health Canada sales nod https://www.proactiveinvestors.com/companies/stocktube/13067/the-green-organic-dutchman-reaches-key-milestone-by-securing-health-canada-sales-nod-13067.html https://www.proactiveinvestors.com/companies/stocktube/13067/the-green-organic-dutchman-reaches-key-milestone-by-securing-health-canada-sales-nod-13067.html The Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF) Senior Marketing Director Drew Campbell tells Proactive Investors it is 'fantastic' the organic cannabis company has received its oil sales license from Health Canada.

    Campbell says sales will begin to its medical patient community from April 29.

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    Mon, 22 Apr 2019 15:56:00 -0400
    Canopy Growth soars on GMP upgrade following Acreage deal https://www.proactiveinvestors.com/companies/news/218901/canopy-growth-soars-on-gmp-upgrade-following-acreage-deal-218901.html https://www.proactiveinvestors.com/companies/news/218901/canopy-growth-soars-on-gmp-upgrade-following-acreage-deal-218901.html Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) stock was on the rise following an upgrade Monday from GMP Securities.

    Analyst Martin Landry raised the stock’s rating to Buy from Hold and increased its price target to C$72 from C$65. That’s more than 20% higher than its Thursday close.

    Shares jumped 7.1% to C$63.88 in Toronto and 7.5% to US$47.90 in New York.

    Last week, the Canadian marijuana producer agreed to a US$3.4 billion deal to acquire Acreage Holdings (OTCMKTS:ACRGF) (CSE:ACRG.U), a US cannabis operator licensed in 20 states, as soon as federal legalization occurs.

    “This transaction should boost Acreage’s ability to consolidate the US market,” Landry wrote, per MarketWatch. “Hence, when Canopy officially takes ownership of Acreage, it could me much larger than currently.”

    Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

    Follow him on Twitter @andrew_kessel

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    Mon, 22 Apr 2019 14:54:00 -0400
    Globex Mining shares rise on new drill results from Quebec property https://www.proactiveinvestors.com/companies/news/218900/globex-mining-shares-rise-on-new-drill-results-from-quebec-property-218900.html https://www.proactiveinvestors.com/companies/news/218900/globex-mining-shares-rise-on-new-drill-results-from-quebec-property-218900.html Globex Mining Enterprises Inc (TSE:GMX) (OTCMKTS:GLBXF) jumped nearly 7% on Monday after the junior miner and its partner Chibougamau Independent Mines Inc (CVE:CBG) (OTCMKTS:CMAUF) released positive drill results from the Bateman Bay property, located in Quebec. 

    Shares of Globex rose 6.9% to sit at C$0.39 on the Toronto Stock Exchange, while shares on the OTCQX were trading at US $0.26.

    Drilling at the C-3 zone on the Bateman Bay property, 100% owned by Chibougamau Independent Mines, intersected wide high grade zones of copper and gold mineralization, Globex said in a statement.

    READ: Globex Mining shares nudge higher as it updates on exploration with Chibougamau Independent Mines

    The companies are “extremely pleased” with the results of drilling to date on the C-3 Zone, they said in a statement. The C-3 zone has shown to extend from around surface level to a depth of 450 metres and is open in all directions, according to Globex.

    The Quebec-based company also said that it was particularly pleased with the gold content, which in certain areas reached nearly 37 grams per ton gold over 0.62 metres.

    The junior miner also analyzed the results for cobalt and found cobalt grades of around 0.03% in one area. More work needs to be done to determine whether cobalt could be a potential byproduct, Globex said.

    Bateman Bay is located in McKenzie township in the province of Quebec. Globex Mining Enterprises Inc. holds a 3% gross metal royalty on the property and most of the other Chibougamau assets as a result of the spin out of Chibougamau to Globex shareholders. 

    Contact Angela at angela@proactiveinvestors.com

    Follow her on Twitter @AHarmantas

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    Mon, 22 Apr 2019 13:41:00 -0400
    Buds & Duds: Cannabis stocks close up on Monday; FSD Pharma shares soar on licensing milestone https://www.proactiveinvestors.com/companies/stocktube/13068/buds--duds-cannabis-stocks-close-up-on-monday-fsd-pharma-shares-soar-on-licensing-milestone-13068.html https://www.proactiveinvestors.com/companies/stocktube/13068/buds--duds-cannabis-stocks-close-up-on-monday-fsd-pharma-shares-soar-on-licensing-milestone-13068.html The buds leading the way are FSD Pharma Inc (CSE:HUGE) (OTCMKTS:FSDDF), The Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF), while the duds are MariMed Inc (OTCQB:MRMD), MedMen Enterprises Inc (CSE:MMEN) (OTCQX:MMNFF). 

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    Mon, 22 Apr 2019 13:04:00 -0400
    NextLeaf boosts financing to C$4 million https://www.proactiveinvestors.com/companies/news/218899/nextleaf-boosts-financing-to-c4-million-218899.html https://www.proactiveinvestors.com/companies/news/218899/nextleaf-boosts-financing-to-c4-million-218899.html Nextleaf Solutions Ltd (CSE:OILS) announced Monday that it is boosting its previously-announced non-brokered private placement to $4 million thanks to investor demand. 

    NextLeaf has a patented process for the commercial scale production of cannabinoid distillate, the precursor to every cannabis-infused product. The company’s technology allows for low-quality, dried cannabis biomass to be processed into a high-purity distilled oil.

    READ: Nextleaf Solutions to raise up to C$2M through a private placement

    The units issued under the financing deal will be subject to a four-month hold period.

    Shares of NextLeaf were at C$0.58 on Monday. 

    Contact Katie Lewis at katie@proactiveinvestors.com

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    Mon, 22 Apr 2019 12:22:00 -0400
    Dillard's slumps on Wedbush downgrade https://www.proactiveinvestors.com/companies/news/218898/dillard-s-slumps-on-wedbush-downgrade-218898.html https://www.proactiveinvestors.com/companies/news/218898/dillard-s-slumps-on-wedbush-downgrade-218898.html Dillard's Inc (NYSE:DDS) stock sank Monday after Wedbush dropped the company to Underperform from Neutral.

    Analyst Jen Redding set her price target for the department store chain at $65, StreetInsider reported, which represents a 12% decline from its Thursday close.

    Shares dropped 8.7% to $67.50.

    The note cited “unwarranted share appreciation” of 11% since February 25 when the Arkansas-based company reported fourth quarter results. The SPSIRE index, which measures the retail sector, remained flat over the same period.

    Redding expects Dillard's to fall short relative to its peers over the next six months.

    The company is scheduled to report first quarter results on May 27.

    Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

    Follow him on Twitter @andrew_kessel

    ]]>
    Mon, 22 Apr 2019 11:41:00 -0400
    Permex Petroleum announces plans to raise up to C$1.5 million to advance Permian projects https://www.proactiveinvestors.com/companies/news/218896/permex-petroleum-announces-plans-to-raise-up-to-c15-million-to-advance-permian-projects-218896.html https://www.proactiveinvestors.com/companies/news/218896/permex-petroleum-announces-plans-to-raise-up-to-c15-million-to-advance-permian-projects-218896.html Permex Petroleum Corp (CSE:OIL) (OTCMKTS:OILCF) announced Monday that it plans to raise up to C$1.5 million to advance its projects in the prolific Permian basin in the US.

    The Vancouver-based junior oil company said in a statement that the funds will be used for restarting waterfloods and bringing online additional shut-in wells for added production.

    READ: Permex Petroleum shares to start life on OTCQB market today

    In addition, the company will use the proceeds to offset acreage acquisition for an increase to contagious acreage holdings as well as general working capital purposes.

    The non-brokered private placement includes a minimum of 4 million units up to a maximum of 10 million units at C$0.15 per share for proceeds of at least $600,000 up to a maximum of $1.5 million.

    Each unit consists of one common share of Permex as well as a warrant entitling the holder to purchase shares at an exercise price of $0.25 for 24 months after closing of the offering, subject to accelerated expiry if the share price closes at or greater than $0.50 for ten consecutive trading days.

    Permex is a junior oil and gas company with assets and operations across in west Texas and New Mexico. The company recently began trading on the OTCQB Market in the US.

    Shares of Permex were trading at C$0.15 on the Canadian Securities Exchange on Monday and at US$0.12 on the OTCQB.

    Contact Angela at angela@proactiveinvestors.com

    Follow her on Twitter @AHarmantas

    ]]>
    Mon, 22 Apr 2019 11:02:00 -0400
    Callitas Health strikes up partnership with Simply Wholeistic on CannaStrip technology, dietary supplements https://www.proactiveinvestors.com/companies/news/218895/callitas-health-strikes-up-partnership-with-simply-wholeistic-on-cannastrip-technology-dietary-supplements-218895.html https://www.proactiveinvestors.com/companies/news/218895/callitas-health-strikes-up-partnership-with-simply-wholeistic-on-cannastrip-technology-dietary-supplements-218895.html Callitas Health Inc (CSE:LILY) (OTCQB:MPHMF) said Monday that it signed a letter of intent with wellness company Simply Wholeistic to manufacture and supply formulations of its own CannaStrips and Simply Wholistic dietary supplements for sale in the US market.

    Cincinnati-based health and wellness company Callitas has developed a novel delivery technology that helps achieve more precise dosing — a tricky undertaking when it comes to medical cannabis.

    The company has come up with oral strips that dissolve instantly on the tongue to deliver tetrahydrocannabinol (THC) and cannabidiols (CBD), a medical component of cannabis that doesn’t get users high.

    READ: Callitas Health strikes up new partnership with NuEthix

    The valuable CannaStrip technology has patent-pending status from the US Patent Office.

    The new partnership comes on the heels of Callitas Health signing agreements with two undisclosed California companies to market and sell CannStrips for THC and CBD.

    “The range of Callitas’s products and IP is outstanding, and the patented sublingual Cannabidiol (CBD) strip is a game changer,″ said Simply Wholeistic CEO Clayton Thomas in a statement. “This year Simply Wholeistic will launch and supply a suite of specific health products that we believe can improve the health of our customers. Our partnership with Callitas significantly enhances our ability to innovate in the market.″

    Simply Wholeistic has created a new line of natural alternative and detox supplements that are designed to help consumers practice preventive care and healthy living.

    DEEP DIVE: Callitas Health banks on CannaStrips and OTC products while swinging for the fence with blockbuster drugs

    ″Simply Wholeistic’s distribution model enables Callitas to continue expanding its technologies, including Cannastrip, into nationwide markets,″ said Callitas Health CEO James M Thompson. “We are excited with this new partnership, and we look forward to introducing novel dietary supplements that address a variety of needs.″

    Simply Wholeistic develops and distributes a line of products, including a unique mood-balancing Hemp strip, that will provide natural alternatives to synthetic supplements.

    Callitas is a well-diversified health and wellness company with a large portfolio. It is developing remedies across five silos: OTC sexual health & wellness, prescriptions for female sexual health, weight management, cannabis delivery technologies and orphan drugs.

    Contact Uttara Choudhury at uttara@proactiveinvestors.com

    Follow her on Twitter@UttaraProactive 

    ]]>
    Mon, 22 Apr 2019 10:50:00 -0400
    Orgenesis strikes deal with Columbia University to develop Cellular Vaccination product platform https://www.proactiveinvestors.com/companies/news/218894/orgenesis-strikes-deal-with-columbia-university-to-develop-cellular-vaccination-product-platform-218894.html https://www.proactiveinvestors.com/companies/news/218894/orgenesis-strikes-deal-with-columbia-university-to-develop-cellular-vaccination-product-platform-218894.html Orgenesis Inc (NASDAQ:ORGS), a developer of advanced cell therapies, has struck a deal with Columbia University under which it will fund research to develop a cellular vaccination product platform.

    Columbia University has created a patented dual-vaccine - focusing on pancreatic, liver and bile duct cancers - that uses whole cancer cells as a source of antigens and the patient’s own immune cells.

    READ: Orgenesis strikes collaboration, license deal for exosome technologies with ExcellaBio

    Under the terms of the research pact, Orgenesis will receive an exclusive license on the technology developed at Columbia.

    “There are very little treatment options for pancreatic, hepatic and cholangiocarcinoma cancers and this vaccine is promising because it complements the immune response and has a broad appeal because of the ease of administration and lack of significant side effects,” said Vered Caplan, CEO of Orgenesis, in a statement.  “Moreover, this technology can serve in the future as a platform to treat many types of solid tumors.”

    Columbia's patented dual-vaccine design uses whole cancer cells as a source of antigens and a patient’s dendritic cells and macrophages to present the cancer antigens to the immune system.

    Targeting the full repertoire of tumor cell antigens leaves little or no possibility for cancer cells to escape the immune system’s response, according to Orgenesis.

    Orgenesis is a biotechnology company specializing in the development and manufacturing of technologies in the cell and gene therapy industry.

    Orgenesis shares held steady at $4.73 in Monday morning trade.

    Contact Ellen Kelleher at ellen@proactiveinvestors.com

     

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    Mon, 22 Apr 2019 10:39:00 -0400
    Buds & Duds: Cannabis stocks close up on Monday; FSD Pharma shares soar on licensing milestone https://www.proactiveinvestors.com/companies/news/218897/buds--duds-cannabis-stocks-close-up-on-monday-fsd-pharma-shares-soar-on-licensing-milestone-218897.html https://www.proactiveinvestors.com/companies/news/218897/buds--duds-cannabis-stocks-close-up-on-monday-fsd-pharma-shares-soar-on-licensing-milestone-218897.html Cannabis stocks started the week with a bang, after a busy 4/20 weekend.

    The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was up 2.5% to 301.34 by Monday's close. The Horizons Marijuana Life Sciences Index ETF was up 3.7% at C$20.92.

    Buds

    FSD Pharma Inc (CSE:HUGE) (OTCMKTS:FSDDF) announced Monday that it had hit a key milestone after its subsidary FV Pharma received its sales license to supply and sell cannabis products. The license, granted by Health Canada, went into effect on April 18, 2019.

    Shares of FSD soared, up 24.4% at C$0.28 in Toronto, up 21.5% at US$0.21 in New York. 

    READ: FSD Pharma granted cannabis sales license from Health Canada

    The Toronto-based company plans to ramp up production at its current facility in Cobourg, Ontario while continuing to build out the plant to add additional grow capacity. 

    The terms allow the current FSD facility to supply and sell cannabis products, while an amended sales license, expected in the near future, will include the sale of dried and fresh cannabis flower.

    The sales license also allows FSD’s partner Canntab Therapeutics (CSE:PILL) to begin sales of its cannabis oral dose delivery platforms, including CBD and THC capsules, in Canada and internationally.

    Shares of Canntab were also up on Monday, closing up 4% at C$0.78 in Toronto. 

    “We expect that this will provide an immediate benefit to both parties, since FSD is entitled to a share of Canntab's revenue from sales as a result of the collaboration and profit sharing agreement that we entered into this past fall,” said FSD founder and president Zeeshan Saeed. 

    READ: The Green Organic Dutchman receives Health Canada licence to sell cannabis oils

    The Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF) shares jumped on Monday after it announced it has received its oil sales licence from Health Canada.

    Shares of TGOD were up 6.9% at C$4.18 in Toronto and up 6.5% at US$3.13 in New York. 

    "We are pleased to offer TGOD's medical patients access to new premium certified organic cannabis oils," said CEO Brian Athaide. "In addition, this step will assist TGOD in transforming our premium-quality organic raw material into a variety of higher-margin cannabis products which is core to our business plan, providing us with the opportunity to bring to market innovative and novel products, including beverages and edibles, once regulations permit. Cannabis 2.0 is rapidly approaching, and we will be ready."

    READ: Cannabis One to acquire Nevada-based Evergreen Organix

    Also on the rise Monday was Cannabis One Holdings Inc. (CSE:CBIS) (OTCMKTS:CAAOF), which announced a series of agreements to acquire Evergreen Organix, a Nevada-based cultivation, manufacturing and brand house.

    Shares were up 3.7% at C$4.53 in Toronto, up 4.8% at US$3.41 in New York. 

    The Denver-based company said in a statement that they had three definitive agreements to acquire certain assets of Nevada-based LV 3480 Partners LLC, 3480 Investors, Inc., and Agro Finance LLC, collectively known as Evergreen Organix.

    Duds

    A number of stocks lagged on Monday. 

    MariMed Inc (OTCQB:MRMD) shares dropped on Monday, down 6.4% at US$3.27. Last week, the company reported its Q4 and annual 2018 fiscal results.

    For the full year 2018, its revenues grew to US$11.85 million, up 95% over US$6.07 million reported for 2017. Its reported net loss for the year was US$13.6 million. 

    Shares of MedMen Enterprises Inc (CSE:MMEN) (OTCQX:MMNFF) lagged on Monday, after it announced a number of top executives have resigned, including its general counsel and chief operating officer. The company also named Ryan Lissack as MedMen's new chief technology officer.

    Shares were down 5.3% at US$2.86 in New York by Monday's close. 

    Contact Katie Lewis at katie@proactiveinvestors.com

    ]]>
    Mon, 22 Apr 2019 10:21:00 -0400
    Siyata Mobile to launch its flagship product with AT&T https://www.proactiveinvestors.com/companies/stocktube/13066/siyata-mobile-to-launch-its-flagship-product-with-att-13066.html https://www.proactiveinvestors.com/companies/stocktube/13066/siyata-mobile-to-launch-its-flagship-product-with-att-13066.html Siyata Mobile Inc (OTCMKTS: SYATF) CEO Marc Seelenfreund tells Proactive Investors the cellular communications device systems company will launch its  flagship Uniden UV350 product with AT&T Inc (NYSE: T) in the next few weeks, in addition to securing recent purchase orders from an unnamed US cell carrier company.

    The UV350 is a 4G/LTE vehicle fleet communication device that delivers voice calls, Push-to-Talk Over Cellular, and data applications, designed specifically for commercial and first responder vehicles.

    ]]>
    Mon, 22 Apr 2019 09:51:00 -0400
    CUI Global bolsters liquidity with new $10 million credit facility https://www.proactiveinvestors.com/companies/news/218889/cui-global-bolsters-liquidity-with-new-10-million-credit-facility-218889.html https://www.proactiveinvestors.com/companies/news/218889/cui-global-bolsters-liquidity-with-new-10-million-credit-facility-218889.html CUI Global (NASDAQ:CUI) told investors Monday that it has closed on a two-year revolving line of credit facility of up to $10 million with Bank of America Merrill Lynch.

    The new facility replaces the energy company’s existing $5 million overdraft facilities with more favorable terms.

    CUI Global boasts two flagship energy products. The first is its GasPT platform, which has a revolutionary method of almost instantly and accurately determining the quality of natural gas.

    The company’s second-leading product is its VE technology, which employs specialized sampling probes to take smaller, more consistent and cleaner gas samples.

    Contact Ellen Kelleher at ellen@proactiveinvestors.com

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    Mon, 22 Apr 2019 09:32:00 -0400
    Hemispherx Biopharma promotes Ellen Lintal to chief accountant post https://www.proactiveinvestors.com/companies/news/218893/hemispherx-biopharma-promotes-ellen-lintal-to-chief-accountant-post-218893.html https://www.proactiveinvestors.com/companies/news/218893/hemispherx-biopharma-promotes-ellen-lintal-to-chief-accountant-post-218893.html Hemispherx Biopharma Inc (NYSEAMERICAN:HEB) has tapped Ellen Lintal as its new chief accounting officer.

    Lintal joined the Florida biopharmaceutical group in 2018 as a vice-president of finance and control.

    READ: Hemispherx Biopharma kicks off Phase 1 trial to treat advanced breast cancer with key drug Ampligen

    Prior to coming on board at Hemispherx, Lintal spent a decade at an undisclosed international non-profit organization, where she served as a chief financial officer and a senior vice-president of finance and control. Her career also includes accounting experience while working for Corning, the Carlisle Companies and AGY.

    “Ms. Lintal has done a superb job since arriving at Hemispherx and will make an excellent chief accounting officer,” said CEO Thomas Equels in a statement.

    Hemispherx is focusing its research and development efforts on advancing its flagship cancer drug Ampliglen as an immuno-therapy. The drug is currently being evaluated to treat nine different types of tumors.

    Contact Ellen Kelleher at ellen@proactiveinvestors.com

     

    ]]>
    Mon, 22 Apr 2019 08:23:00 -0400
    FSD Pharma granted cannabis sales license from Health Canada https://www.proactiveinvestors.com/companies/news/218883/fsd-pharma-granted-cannabis-sales-license-from-health-canada-218883.html https://www.proactiveinvestors.com/companies/news/218883/fsd-pharma-granted-cannabis-sales-license-from-health-canada-218883.html FSD Pharma Inc (CSE:HUGE) (OTCMKTS:FSDDF) announced Monday that its wholly-owned subsidiary FV Pharma Inc had received its sales license to supply and sell cannabis products, a key milestone for the licensed producer.

    The license, granted by Health Canada, went into effect on April 18, 2019.

    The terms allow the current FSD facility to supply and sell cannabis products, while an amended sales license, expected in the near future, will include the sale of dried and fresh cannabis flower.

    READ: FSD Pharma taps Charles Pollack Jr as chairman of its scientific advisory board

    “Our sales license is a key development for FSD Pharma and a huge success and step forward for our Cobourg facility,” said Dr. Raza Bokhari, executive co-chairman and CEO at FSD Pharma.

    The Toronto-based company plans to ramp up production at its current facility while continuing to build out the plant to add additional grow capacity, its founder and president Zeeshan Saeed said in a statement. 

    The sales license also allows FSD’s partner Canntab Therapeutics (CSE:PILL) to begin sales of its cannabis oral dose delivery platforms, including CBD and THC capsules, in Canada and internationally.

    “We expect that this will provide an immediate benefit to both parties, since FSD is entitled to a share of Canntab's revenue from sales as a result of the collaboration and profit sharing agreement that we entered into this past fall,” said Saeed.

    FSD Pharma grows medical-grade cannabis at its 25,000 square foot facility in Ontario, with an additional 220,000 expected to be added by the end of 2019.

    Shares of FSD Pharma were trading at C$0.23 in Canada and US$0.17 in the US at Friday’s close. 

    Contact Angela at angela@proactiveinvestors.com

    Follow her on Twitter @AHarmantas

    ]]>
    Mon, 22 Apr 2019 08:20:00 -0400
    The Green Organic Dutchman receives Health Canada licence to sell cannabis oils https://www.proactiveinvestors.com/companies/news/218882/the-green-organic-dutchman-receives-health-canada-licence-to-sell-cannabis-oils-218882.html https://www.proactiveinvestors.com/companies/news/218882/the-green-organic-dutchman-receives-health-canada-licence-to-sell-cannabis-oils-218882.html The Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF) announced Monday that it has received its oil sales licence from Health Canada.

    This news follows a key settlement with the Hamilton City Council which will allow the cannabis company to operate its cannabis greenhouse in Ancaster, Ontario.

    The Green Organic Dutchman received its oils production licence in April 2018 and subsequently installed an advanced CO2 extraction system, capable of processing ultra-pure, environmentally friendly, organic cannabis oils.

    READ: The Green Organic Dutchman wins approval from council to operate greenhouse in Ancaster, Ontario

    The process is free of “toxic solvents” and does “not require any winterization protocol,” said the company. The result of this specialized extraction process is a “precisely concentrated, aromatic golden-brown oil” that is as close to the original plant composition as can be achieved.

    The Green Organic Dutchman’s premium cannabis products, including its cannabis oils, are certified organic by ProCert and its growing process is certified organic by both ProCert and Ecocert.

    The company’s oil extraction facility was built to Good Manufacturing Practices specifications, and work is underway for European Union GMP certification, which will allow the company to expand distribution of its certified organic cannabis oils beyond Canada to global markets.

    "We are pleased to offer TGOD's medical patients access to new premium certified organic cannabis oils," said Green Organic Dutchman CEO Brian Athaide.

    Value addition

    Athaide said the move will allow the company to transform its “premium quality organic raw material” into a variety of “higher-margin” cannabis products which is core to its business plan.

    “It provides us with the opportunity to bring to market innovative and novel products, including beverages and edibles, once regulations permit. Cannabis 2.0 is rapidly approaching, and we will be ready," said Athaide.

    The company’s oils will be as close to the “original plant as possible, including terpene profiles to realize entourage effects,” said the company. The process is easily customizable to create full-spectrum strain-specific oils, as well as oils of varying cannabinoid and terpene concentrations.

    "Oil is predominantly a medical product, and patients want clean, organic efficacy with safe and easy delivery," said Dr Rav Kumar, chief science officer at Green Organic Dutchman. "Through our certified organic product and process we know we are providing patients the best possible experience."

    In March, the first group of patients, the Growers' Circle, received access to purchase the company’s first certified organic cannabis strain through the website. The company’s Unite Organic Cannabis Oil, derived from a high-potency THC-dominant strain, will begin shipping later this month.

    The Green Organic Dutchman boasts operations focused on medical cannabis in Canada, Europe, the Caribbean and Latin America, as well as the Canadian recreational market.

    When the cannabis company’s facilities in Ancaster, a community in Hamilton, are completed, they will be capable of growing 17,500 kgs of organic cannabis per year.

    The newly-built greenhouse is expected to begin growing cannabis by June and will employ up to 85 people.

    Established by Dutch founders, the company grows organic cannabis in high-technology, eco-friendly and sustainable facilities. The cannabis is grown naturally in Canadian soil without the use of synthetic pesticides, herbicides or fertilizers and wrapped in eco-friendly packaging.

    Contact Uttara Choudhury at uttara@proactiveinvestors.com

    Follow her on Twitter@UttaraProactive 

    ]]>
    Mon, 22 Apr 2019 07:54:00 -0400
    Analysts remain cautious on the outlook for iron ore, in spite of ongoing positive supply-demand dynamics https://www.proactiveinvestors.com/companies/news/218314/analysts-remain-cautious-on-the-outlook-for-iron-ore-in-spite-of-ongoing-positive-supply-demand-dynamics-218314.html https://www.proactiveinvestors.com/companies/news/218314/analysts-remain-cautious-on-the-outlook-for-iron-ore-in-spite-of-ongoing-positive-supply-demand-dynamics-218314.html According to analysis undertaken by broker Liberum, the mining sector hit highs in the first week of April that hasn’t been seen since early in 2011.

    It is an interesting move in a market that has been obsessing over the likely economic weakness in the global economy in the near-term future, and it comes largely on the back of positive sentiment over the price of iron ore.

    READ: Iron ore market tightness set to remain as Vale’s woes in Brazil continue

    How much this positivity is actually justified by the fundamentals is another matter though, and Liberum continues to remain distinctly cautious.

    To be sure, Liberum has erred too much on the side of caution in recent months when it comes to iron ore, and it’s not as if the market doesn’t have some encouraging data to wrap its positivity around.

    But it’s a fine balance. Following the tailings dam disaster at Brumadinho in Brazil earlier this year, disruptions to the iron ore supply from Vale S.A.(NYSE:VALE), one of the biggest mining companies in the world, turned out to be greater than anticipated.

    Or at least, greater than most Western analysts anticipated. In China, iron ore buyers immediately started stockpiling in anticipation of a supply squeeze, and they were right to. Vale was forced by Brazilian regulators to cut back supply to a greater degree than had been expected, and that news, combined with the heavy spree that China’s buyers had already been on, created a tightness in the market unseen for several years.

    At one point, it was thought that supply from Vale would be curtailed by as much as 93mln tonnes this year, but more recent estimates put the shortfall at closer to 44mln tonnes.

    That’s still significant, and is one good reason why investors in mining equities remain relatively bullish.

    Another is that recent manufacturing PMI numbers from China have come in on the upside, upsetting the continuing narrative of an ongoing slowdown in Chinese growth. The PMI numbers have reminded investors that even if growth is slowing, it’s still growth and the consequent demand for raw materials will have to be met from somewhere.

    How much the large miners, the likes of BHP Group PLC (LON:BHP), Rio Tinto (LON:RIO), Anglo American (LON:AAL) and Vale are in a position to meet this demand is an open question. It’s a small paradox that because they may struggle to supply stock to China, their share prices are actually going up. Iron ore will be scarcer, which means the price is likely to stay high, which in turn means greater profits for the big four from existing operations.

    How long this dynamic will last isn’t clear, but it’s unlikely to be for too long. The gloomier prognosis about the global economy hasn’t gone away, and at some point, Vale will be able to get its production levels back up to where it wants them.

    And it’s worth noting too, that while Vale’s production may drop, it has an estimated 80mln tonne stockpile that it can draw on should it so wish. It’s with that in mind that analysts at RBC argue that the company may actually end up shipping more product into the seaborne trade than last year.

    Overall RBC remains cautious about Vale as a potential investment. The shares have risen in line with the higher iron ore price, but with a normalisation of supply, the broker argues, the focus could likely turn to the longer-term regulatory fallout from the Brumadinho disaster.

    That could end up having a real drag on the share price, especially in the context of, say, a US$60 or US$50 iron ore price.

    “We continue to see the iron ore market in a general balance with slowing consumption in Europe, China and now wider Asia,” writes RBC.

    “The potential for returning Chinese domestic iron ore is likely to impact prices once full impacts from the tragedy are assessed. There may be one last upwards move in prices should any further non-Vale Brazilian supply get taken out of the market, but we see this speculation as already in the price.”

    READ: Vale delivers on 2018 profits but slashes iron ore sales estimates after January dam collapse

    Liberum takes a slightly different view on the seaborne trade, but the overall assessment is broadly similar.

    “We are still cautious on iron ore prices for the rest of 2019 based on our view of negative Chinese steel production and only a 19mln tonne decline in seaborne supply,” the broker wrote.

    “Chinese port stocks of iron ore added 1mt on Friday, with still no physical signs of tightness in the iron ore market.”

    It all means that investors can make a little hay in the miners while the sun is currently shining, but longer term, the money is likely to drain away. That in turn bodes ill for the revival of the once-buoyant junior iron ore market, which may now have to wait for the next economic cycle to get underway before real activity can get underway again.

    ]]>
    Sun, 21 Apr 2019 08:00:00 -0400
    The high holiday for smoking pot: 4/20 festivities held worldwide https://www.proactiveinvestors.com/companies/news/218878/the-high-holiday-for-smoking-pot-420-festivities-held-worldwide-218878.html https://www.proactiveinvestors.com/companies/news/218878/the-high-holiday-for-smoking-pot-420-festivities-held-worldwide-218878.html A cloud of smoke wafted across cities worldwide Saturday with the celebration of 4/20 – the unofficial holiday of marijuana – culminating in a synchronized smoke at 4:20pm.

    Held on April 20 annually, the digits 4/20 have become synonymous with cannabis culture, as the date is written in the North American calendar as 4/20.

    Vancouver, Toronto, Chicago, New York, Phoenix. Name the city and there was a 4/20 celebration going on Saturday. 

    READ: Buds & Duds: Canopy stock soars as it strikes mammoth $3.4B deal to buy Acreage after US federal legalization

    In Canada, it’s the beginning of a new dawn in some ways, as this year is the first celebration since cannabis became legalized in October.

    Why did 4/20 become synonymous with cannabis?

    Reportedly, the term originated in northern California in the 1970s, as five students at San Rafael High School would meet at 4:20pm to smoke marijuana.

    ‘‘We thought it was a joke then,’’ said David Reddix, a filmmaker and retired CNN cameraman, told the Associated Press. ‘‘We still do.’’

    These days, it’s gone mainstream, with 4:20pm being weed’s equivalent of happy hour.

    Vancouver famous for its blazing annual event

    Vancouver is famous for its annual 4/20 event, which started in Vancouver in 1995, led by Marc Emery, the self-titled “prince of pot” as a protest calling for the legalization of cannabis. 

    This year's event drew 60,000 people in Vancouver, more than last year.

    Cannabis activist and event spokeswoman Jodie Emery called the event “the most epic, peaceful, beautiful 4/20 in the history of the world.”

    This year, hip hop group Cypress Hill was the headliner at the event.

    Other companies jumping in

    Companies across North America also took part in the event. 

    Pizza Hut offered up its brownie for US$4.20, according to a tweet by the chain. 

    Fast food chain Carl’s Jr, under parent company CKE Restaurants Holdings, Inc announced a CBD-infused burger to celebrate 4/20, in one location: Denver.

    It serve a double cheeseburger with two beef patties, pickled jalapeños, pepper jack cheese and Santa Fe Sauce infused with hemp-based CBD oil.

    Ben and Jerry's, famed ice cream company, marked 4/20 by endorsing a petition calling on Congress to expunge cannabis convictions. 

    Contact Katie Lewis at katie@proactiveinvestors.com

    ]]>
    Sat, 20 Apr 2019 18:16:00 -0400
    Empower Clinics signs agreement for pilot program with Cannvas Medtech https://www.proactiveinvestors.com/companies/stocktube/13065/empower-clinics-signs-agreement-for-pilot-program-with-cannvas-medtech-13065.html https://www.proactiveinvestors.com/companies/stocktube/13065/empower-clinics-signs-agreement-for-pilot-program-with-cannvas-medtech-13065.html Empower Clinics (CSE:CBDT) CEO Steven McAuley joined Steve Darling from Proactive Investors Vancouver to discuss Empower signing of a pilot agreement with Cannvas MedTech to launch a comprehensive education, data collection program by installing stand-alone kiosks in Empower’s clinics. McAuley talks about how the program will work.

    McAuley also telling Proactive when the project is expected to start and the number of clinics these kiosks will be placed in.
     

    ]]>
    Thu, 18 Apr 2019 17:53:00 -0400
    Buds & Duds: Canopy stock soars as it strikes mammoth $3.4B deal to buy Acreage after US federal legalization https://www.proactiveinvestors.com/companies/stocktube/13064/buds--duds-canopy-stock-soars-as-it-strikes-mammoth-34b-deal-to-buy-acreage-after-us-federal-legalization-13064.html https://www.proactiveinvestors.com/companies/stocktube/13064/buds--duds-canopy-stock-soars-as-it-strikes-mammoth-34b-deal-to-buy-acreage-after-us-federal-legalization-13064.html Buds of the day are Canopy Growth Corporation (TSE:WEED) (NYSE:CGC), iAnthus Capital Holdings Inc. (CSE:IAN) (OTCMKTS:ITHUF), and duds of the day are Aphria Inc (TSE:APHA), Tilray Inc (NASDAQ:TLRY) (NYSE:APHA). 

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    Thu, 18 Apr 2019 16:38:00 -0400
    PreveCeutical files two patents and looks to acquire human tissue for sol gel https://www.proactiveinvestors.com/companies/stocktube/13063/preveceutical-files-two-patents-and-looks-to-acquire-human-tissue-for-sol-gel-13063.html https://www.proactiveinvestors.com/companies/stocktube/13063/preveceutical-files-two-patents-and-looks-to-acquire-human-tissue-for-sol-gel-13063.html PreveCeutical Medical Inc. (CNSX:PREV) Chairman and CEO Stephen Van Deventer joined Steve Darling from Proactive Investors to talk about the medical company that has recently filed two new patent applications for cyclic peptides and their use in pain management.

    Van Deventer also talked about the company filing an application to a local hospital’s Human Ethics Committee to acquire human nasal mucosal tissue for the final phase of the cannabinoid-based, soluble gel. 

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    Thu, 18 Apr 2019 16:13:00 -0400
    Cresco Capital Partners finding success in companies finding success https://www.proactiveinvestors.com/companies/stocktube/13062/cresco-capital-partners-finding-success-in-companies-finding-success-13062.html https://www.proactiveinvestors.com/companies/stocktube/13062/cresco-capital-partners-finding-success-in-companies-finding-success-13062.html Cresco Capital Partners Managing Partner Matt Hawkins joined Steve Darling from Proactive Investors Vancouver to talk about their fund that provides capital for cannabis companies in the United States.

    Hawkins telling Proactive about the type of companies they work with and how he sees the future of the sector in the U.S. 

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    Thu, 18 Apr 2019 15:49:00 -0400
    Gold Resource adds mining industry expert to board, posts 1Q output numbers https://www.proactiveinvestors.com/companies/stocktube/13061/gold-resource-adds-mining-industry-expert-to-board-posts-1q-output-numbers-13061.html https://www.proactiveinvestors.com/companies/stocktube/13061/gold-resource-adds-mining-industry-expert-to-board-posts-1q-output-numbers-13061.html Gold Resource Corporation (NYSEAMERICAN:GORO) CEO Jason Reid tells Proactive Investors the Colorado-based miner with assets in Nevada and Mexico has posted first-quarter output numbers.

    What's more, Reid said Denver-based Kimberly Perry has joined the board of directors, and with her comes 15 years of previous mining industry experience.

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    Thu, 18 Apr 2019 13:25:00 -0400
    Apple investors file lawsuit against iPhone maker over alleged securities fraud https://www.proactiveinvestors.com/companies/news/218849/apple-investors-file-lawsuit-against-iphone-maker-over-alleged-securities-fraud-218849.html https://www.proactiveinvestors.com/companies/news/218849/apple-investors-file-lawsuit-against-iphone-maker-over-alleged-securities-fraud-218849.html Investors have launched a lawsuit against Apple Inc (NASDAQ:AAPL) on claims the company withheld details about how much iPhone demand had slumped in 2018.

    In January, Apple shares fell 10% a day after issuing a revenue warning. The tech giant blamed poor iPhone sales, particularly in China, which has been embroiled in a trade dispute with the US.

    Investors who bought shares in Apple two months before the warning have filed a lawsuit against the firm on allegations of securities fraud.

    READ: Apple shares plunge after tech giant warns 1Q revenue will be lower than expected

    The investors claim Apple knew the extent of the decline in iPhone sales well before it downgraded its revenue forecasts on January 2.

    Chief executive Tim Cook and chief financial officer Luca Maestri have been named as defendants in the lawsuit, which was filed in California by the City of Roseville Employees’ Retirement System.

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    Thu, 18 Apr 2019 12:38:00 -0400
    Plus Products may have started in a garage, but has grown to be an industry leader https://www.proactiveinvestors.com/companies/stocktube/13060/plus-products-may-have-started-in-a-garage-but-has-grown-to-be-an-industry-leader-13060.html https://www.proactiveinvestors.com/companies/stocktube/13060/plus-products-may-have-started-in-a-garage-but-has-grown-to-be-an-industry-leader-13060.html Plus Products (CSNX:PLUS) CEO Jake Heimark joined Steve Darling from Proactive Investors Vancouver to talk about the cannabis edibles company that has quickly become one of the best-known brands in California. They have come a long way from their humble beginnings in a garage.

    Heimark also told Proactive about their product lines and a new mint line that has just started. He also talked about one of the major hurdles for cannabis companies that so far they have found a solution. 

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    Thu, 18 Apr 2019 12:34:00 -0400
    Credit Suisse weighs up the attractions of mid-tier gold producers, at this stage Endeavour Mining comes out on top https://www.proactiveinvestors.com/companies/news/218844/credit-suisse-weighs-up-the-attractions-of-mid-tier-gold-producers-at-this-stage-endeavour-mining-comes-out-on-top-218844.html https://www.proactiveinvestors.com/companies/news/218844/credit-suisse-weighs-up-the-attractions-of-mid-tier-gold-producers-at-this-stage-endeavour-mining-comes-out-on-top-218844.html According to research recently published by Credit Suisse, political uncertainty - in particular, Brexit and the US-China trade war - seems likely to underpin the gold price through 2019.

    Credit Suisse sets what it terms as a “conservative” average gold price target for the year of 2018, roughly where it is now.

    READ: Endeavour Mining begins commercial production at second Côte d'Ivoire gold mine

    But any number of factors relating to Brexit or China, or other global geopolitical events, such as tension in the Middle East or the Korean peninsula, could nudge that average significantly higher, allowing for increased margin for companies with existing gold production.

    In the same note, Credit Suisse focuses on five such companies in particular. Two - Endeavour Mining (TSE:EDV) and Alamos Gold (TSE:AGI) - it rates as outperform. The other three, Centerra (TSE:CG), Eldorado (TSE: ELD) and New Gold (TSE:NGD) are rated neutral, at least for now.

    Credit Suisse cites valuation, growth potential and track record as key metrics for the derivation of its valuations, with a further factor, geopolitical risk creating some uncertainty around Centerra in particular.

    Endeavour, Credit Suisse argues, is ripe for a re-rating, as new production and the attendant new cash flow is set to come on stream this year, and is likely to show up in quarterly results due out in August. In the meantime, the shares have underperformed relative to the peer group.

    What’s more, when set against Alamos on a cost basis, Endeavour comes out ahead by some margin. Three out of Endeavour’s four producing mines are cheaper in terms of all-in costs than any of Alamos’s mines, with only Agbaou, Endeavour’s most long-standing operation, returning costs above US$800 per ounce.

    Only Alamos’s Island gold mine in Canada can boast of a better all-in cost number, and that accounted for just over 100,000 ounces of production in 2018, a significantly lower amount than the 173,000 ounces produced at Endeavour’s new Ity mine, and the 249,000 produced at Hounde.

    Credit Suisse notes the significant debt carried on the Endeavour balance sheet following the build out of Ity, but doesn’t cite it as a particular concern. Indeed, the increase in cash flow that is set to come through from the new operation will cover the debt without any difficulty, and if the shares are re-rated the debt to equity ratio should fall as well.

    Credit Suisse expects total production of 659,000 ounces of gold from Endeavour this year, at total cash costs of US$799 per ounce.

    Alamos - attractive growth profile

    Alamos meanwhile, earns praise for the attractiveness of its growth profile, including the potential for new projects and exploration upside at Island. It has a strong operational track record and no debt.

    On Eldorado, Credit Suisse is cautious about the company’s debt, while on Centerra, although the operations look attractive, the risk in Kyrgyzstan remains significant, with companies like Chaarat Gold Holdings (LON:CGH) circling.

    New Gold meanwhile still has significant development hurdles to get over at Rainy River.

    Credit Suisse sets a C$32.00 target for Endeavour, a US$1.00 target for New Gold, a US$7.00 target for Alamos, a C$8.00 target for Centerra, and a US$6.00 target for Eldorado.

    ]]>
    Thu, 18 Apr 2019 12:22:00 -0400
    KinerjaPay rockets after Wahana Group initiates $100M fund transfer as part of equity investment https://www.proactiveinvestors.com/companies/news/218873/kinerjapay-rockets-after-wahana-group-initiates-100m-fund-transfer-as-part-of-equity-investment-218873.html https://www.proactiveinvestors.com/companies/news/218873/kinerjapay-rockets-after-wahana-group-initiates-100m-fund-transfer-as-part-of-equity-investment-218873.html KinerjaPay Corp (OTCMKTS:KPAY) stock rocketed Monday after the digital payment and e-commerce platform, announced that PT Investa Wahana Development initiated a SWIFT transfer for $100 million as part of its equity investment.

    The proof of the banking instrument transmission has been received, said Delaware-based KinerjaPay in a statement.

    In response, KinerjaPay shares jumped more than 37.1% to $0.74 in midday trade in New York.

    As previously announced, the Wahana Group has signed up for $200 million in Series F and  Series G convertible preferred stock. 

    The initial delay in securing the funding since KinerjaPay reported the Wahana Group’s subscription for the preferred stock in January stemmed from the complexity of US federal banking regulations which make it challenging to accept $200 million in funding from an Indonesian-based investor.

    READ: KinerjaPay gets Wahana Group's 'firm' commitment on $200M equity investment

    The company said it views this as “the beginning of the completion of Wahana's subscription agreement over the near term,” and is confident that the funding deal by the Wahana Group will soon close.

    On a separate note, KinerjaPay Corp told investors it has submitted documents for the directors of PT Kinerja Simpan Pinjam, a fully-owned subsidiary, as part of a key requirement for the company to obtain a peer-to-peer license in Indonesia.

    The company is currently in full compliance with the regulations set by OJK, or the Financial Services Authority of Indonesia that supervises the capital markets in Indonesia. The company said it will start its lending operation within 30 days and expects it to grow into a mainstream product line.

    The American company, which started in Indonesia, is ready to grow its South-East Asian digital payments and microloans business while evaluating potential acquisitions over the next 12 months.

    KinerjaPay’s services include the company’s KinerjaPay IP digital payments and e-wallet system (KPAY) and KinerjaFund (KFUND) microloan service. KinerjaPay’s focus is on regions with large un-banked and under-banked populations, and areas with minimal use of traditional credit cards.

    Contact Uttara Choudhury at uttara@proactiveinvestors.com

    Follow her on Twitter@UttaraProactive 

    ]]>
    Thu, 18 Apr 2019 12:07:00 -0400
    Buds & Duds: Canopy stock soars as it strikes mammoth $3.4B deal to buy Acreage after US federal legalization https://www.proactiveinvestors.com/companies/news/218872/buds--duds-canopy-stock-soars-as-it-strikes-mammoth-34b-deal-to-buy-acreage-after-us-federal-legalization-218872.html https://www.proactiveinvestors.com/companies/news/218872/buds--duds-canopy-stock-soars-as-it-strikes-mammoth-34b-deal-to-buy-acreage-after-us-federal-legalization-218872.html Cannabis stocks rolled up into the long weekend on the back of boosts yesterday, after a volatile few weeks. 

    The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was up 1.1% to 294.05 on Thursday. The Horizons Marijuana Life Sciences Index ETF was up 0.05% at C$20.18.

    Buds

    Canopy Growth Corporation (TSE:WEED) (NYSE:CGC) was the talk of the town on Thursday after it struck a mammoth US$3.4 billion deal to buy Acreage Holdings (CSE:ACRG.U) after cannabis has been legalized in the US. 

    Shares of Canopy soared 4.4% at C$59.64 in Toronto and up 4.0% at US$44.56 in New York. 

    The deal is complicated, and was finalized Thursday morning in New York. It grants Canopy the right to purchase all of Acreage’s stock, following legalization in the US. New York-based Acreage Holdings is one of the largest multistate cannabis operators in the US, with a presence in 20 states.

    Until then, the two companies will operate independently. The deal will also grant Acreage access to Canopy's brands, including Tweed. 

    “Today we announce a complex transaction with a simple objective. Our right to acquire Acreage secures our entrance strategy into the United States as soon as a federally-permissible pathway exists,” said Canopy co-CEO Bruce Linton in a press release. “By combining Acreage’s management team, licenses and assets with Canopy Growth’s intellectual property and brands, there will be tremendous value creation for both companies’ shareholders.”

    READ: Next Green Wave kicks off cannabis production in California

    Other gainers on Thursday included Next Green Wave Holdings Inc (CSE:NGW) (OTCMKTS:NXGWF) which announced Thursday that it has received an occupancy permit for its first indoor production facility from the City of Coalinga.

    Shares popped, up 6.6% at US$0.38 in New York, up 6.3% at C$0.51 in Toronto. 

    Shares of iAnthus Capital Holdings Inc. (CSE:IAN) (OTCMKTS:ITHUF) gained Thursday, up 3.3% at C$6.84 in Toronto, up 2.9% at US$5.12 in New York. The company released news that it is launching the sale of smokable flower and pre-rolled joints in Florida through iAnthus' "GrowHealthy" Florida dispensary brand.

    The flower sales will commence on Saturday, April 20, also known as the cannabis holiday "4/20".

    Duds

    Laggards on Thursday Aphria Inc (TSE:APHA) (NYSE:APHA), which continued to slide, down 2.2% at C$7.65 in New York, off 2.1% at C$10.21 in Toronto. 

    The Canadian producer announced Thursday it was raising US$300 million in convertible senior notes. It's been a tough six months for the company, which has seen a hostile takeover bid, the departure of two executives, as well as a $50 million impairment charge. 

    Tilray Inc (NASDAQ:TLRY) shares lagged on Thursday and the stock has been on a steady decline over the past six months. So far in 2019, the stock is down 30%, including a 7% loss this week on Monday. 

    Shares were down again Thursday, slipping below the US$50 threshold, down 3.4% at US$48.97. 

    Contact Katie Lewis at katie@proactiveinvestors.com

    ]]>
    Thu, 18 Apr 2019 11:11:00 -0400
    THC Global directors and CEO to participate in SPP https://www.proactiveinvestors.com/companies/news/218806/thc-global-directors-and-ceo-to-participate-in-spp-218806.html https://www.proactiveinvestors.com/companies/news/218806/thc-global-directors-and-ceo-to-participate-in-spp-218806.html THC Global Group Ltd (ASX:THC) has revealed that its directors and CEO have confirmed they will participate in the share purchase plan (SPP) that is underway.

    Under the SPP, eligible shareholders can subscribe for up to $15,000 worth of shares priced at 50 cents.

    The SPP offer is expected to close on Friday, 26 April 2019 after it opened 9 April 2019.

    READ: THC Global's Canadian division boosts revenue 22% in March quarter

    In a letter to shareholders on 9 April, THC’s chairman Steven Xu said: “The funds raised from the Share Purchase Plan will be applied to progress the company’s Australian medicinal cannabis activities as it transitions into full-scale production as final licences and permits are received in the near term, as well as general working capital.”

    The company also released its April 2019 briefing note earlier this month, which it distributed to shareholders yesterday.

    The briefing note highlighted the near term outlook for the company which included the receipt of final Australian cannabis licenses and permits enabling two manufacturing facilities and cultivation sites.

    At its manufacturing facility, it is working towards first validation production, which aims to lead to high-value profitable production of up to 120,000 kilograms of oil at full capacity.

    Furthermore, in the April briefing note, THC listed signing key offtake agreements for products and securing cannabis supply through domestic production in its near term outlook.

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    Thu, 18 Apr 2019 11:11:00 -0400
    Deer Horn Capital has unique project near Smithers with an interesting EV battery twist https://www.proactiveinvestors.com/companies/stocktube/13059/deer-horn-capital-has-unique-project-near-smithers-with-an-interesting-ev-battery-twist-13059.html https://www.proactiveinvestors.com/companies/stocktube/13059/deer-horn-capital-has-unique-project-near-smithers-with-an-interesting-ev-battery-twist-13059.html Deer Horn Capital (CNSX:DHC) President and CEO Tyrone Docherty sat down with Steve Darling from Proactive Investors Vancouver to discuss their project just outside of Smithers, BC. Docherty discussing the unique story around this gold and silver asset.

    Docherty also telling Proactive about the PEA that was done last year and what work is expected to happen in 2019. 

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    Thu, 18 Apr 2019 10:40:00 -0400
    CannPal Animal Therapeutics R&D research to be published in leading veterinary journal https://www.proactiveinvestors.com/companies/news/218804/cannpal-animal-therapeutics-rd-research-to-be-published-in-leading-veterinary-journal-218804.html https://www.proactiveinvestors.com/companies/news/218804/cannpal-animal-therapeutics-rd-research-to-be-published-in-leading-veterinary-journal-218804.html CannPal Animal Therapeutics Ltd (ASX:CP1) is being recognised for its robust and leading research into medicinal cannabis treatments for animals through participation in Australia’s largest veterinary conference and publication of its first research abstract.

    This will provide the company the opportunity to directly present to 1,400 veterinarians at the Australian Veterinary Association (AVA) Innovation, Research and Development Symposium in May.

    CannPal will also reach more than 5,000 through publication of its abstract in the Australian Veterinary Journal (AVJ), which is Australia’s premier veterinary scientific journal.

    READ: CannPal Animal Therapeutics sees lucrative opportunity in cannabinoids-based animal health market

    Founder and managing director Layton Mills said the presentation and AVJ publication was a significant milestone for the company.

    He said: “There is significant demand from pet owners for cannabinoid-derived therapeutics, but veterinarians don’t yet have a thought leader providing them with reliable data or regulatory approved products.

    “The AVJ publication is the first step in CannPal establishing ourselves as the provider of that data, and hopefully of regulatory approved, safe and effective veterinary medicines”.

    “Building a trusting relationship” with vets

    “This is an important step in building a trusting relationship with vets as we get closer towards commercialising our products through various regulatory pathways.”

    During the AVA Innovation Symposium in Perth next month CannPal’s head of R&D Dr Margaret Curtis will present on the company’s Phase 1 trial results.

    This will include the pharmacokinetic, safety, gene expression and inflammatory biomarker results from the robust randomised three group parallel pharmacokinetic study completed in 2018.

    READ: CannPal Animal Therapeutics receives approvals for two clinical studies

    The AVA event between May 5 and 10 is the largest veterinary conference in Australia, with an average of 1,400 veterinary professionals expected to attend.

    It is a platform for industry and animal researchers to present their clinical research and findings directly to the veterinary profession.

    The Innovation Symposium will be on Sunday, May 5, and Dr Curtis will present at 3.35pm alongside speakers from world-leading animal health companies such as Bayer, Ceva and Virbac.

    Abstracts from the symposium will be published in the AVJ, which is Australia’s premier veterinary scientific journal, reaching an audience of over 5,000 AVA members.

    CannPal generates “exciting results”

    Dr Curtis said: “This is a great opportunity to get our initial results out into the veterinary fraternity in Australia.

    “The AVJ is widely read, and publication of this work will further disseminate the exciting results that CannPal is generating, bringing us closer to potentially approvable cannabis-derived medicines for pets.”

    MD Mills said: “Since founding the company, CannPal has placed diligent focus on building a credible and experienced R&D team to complete robust and world leading research on the safety and efficacy of cannabis-derived compounds for companion animals.

    “The AVA Symposium is an opportunity for CannPal to start sharing some of that research with the scientific and veterinary community, in the hopes of establishing CannPal as a clear leader in this field.”

    READ: CannPal Animal Therapeutics director buys 100,000 shares on-market

    CannPal is researching and developing medicines derived from cannabinoids with the aim of providing veterinarians with clinically validated and standardised therapeutics to treat animals in a safe and ethical way.

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    Thu, 18 Apr 2019 10:31:00 -0400
    urban-gro's experience makes them an industry leader in cannabis cultivation https://www.proactiveinvestors.com/companies/stocktube/13058/urban-gro-s-experience-makes-them-an-industry-leader-in-cannabis-cultivation-13058.html https://www.proactiveinvestors.com/companies/stocktube/13058/urban-gro-s-experience-makes-them-an-industry-leader-in-cannabis-cultivation-13058.html urban-gro CEO Brad Nattrass joined Steve Darling from Proactive Investors Vancouver. urban-gro is a leading systems integrator and agriculture technology firm focused on serving commercial cultivators around the world. That includes the cannabis industry. The company is set to go public in Q-2 of 2019.

    Nattrass telling Proactive about their company experience and how it put them in an industry-leading position. Nattrass also discussed the recent acquisition of an engineering firm and how they will play a role in future growth.

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    Thu, 18 Apr 2019 10:25:00 -0400
    Next Green Wave officially becomes a licensed producer in California https://www.proactiveinvestors.com/companies/stocktube/13056/next-green-wave-officially-becomes-a-licensed-producer-in-california-13056.html https://www.proactiveinvestors.com/companies/stocktube/13056/next-green-wave-officially-becomes-a-licensed-producer-in-california-13056.html Leigh Hughes, chief executive of Next Green Wave Holdings Inc (CSE:NGW) (OTCMKTS:NXGWF), speaks to Proactive London as they officially got the nod to produce in California.

    ''Operations begin today for us which is a fantastic achievement for our company''.

    ''We go into activating facility A …plants go into the ground today, we go straight into operations, everything our shareholders have invested into our company for begins today being a licensed producer so this is a huge milestone for our company''.

    ]]>
    Thu, 18 Apr 2019 10:19:00 -0400
    1933 Industries launches Canna Fused products in Nevada at NuWu 420 celebration event in Las Vegas https://www.proactiveinvestors.com/companies/news/218868/1933-industries-launches-canna-fused-products-in-nevada-at-nuwu-420-celebration-event-in-las-vegas-218868.html https://www.proactiveinvestors.com/companies/news/218868/1933-industries-launches-canna-fused-products-in-nevada-at-nuwu-420-celebration-event-in-las-vegas-218868.html 1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIF) announced the launch Thursday of Canna Fused, a line of tetrahydrocannabinol (THC) and cannabidiol (CBD) wellness products for the prized Nevada market.

    Developed by the company's subsidiaries, Alternative Medicine Association and Infused MFG, the Canna Fused line will launch on April 20, in Nevada, featuring vape pens, cartridges, lotions and lip balms, mirroring the Canna Hemp suite of products.

    READ: 1933 Industries is poised to move into new cultivation facility in Nevada

    Based on proprietary, chemical-free formulations and driven by consumer demand, the line is infused with CBD and THC in a variety of ratios. Canna Fused products feature organic ingredients, said the company and the cannabis-derived terpenes, are “cruelty-free, non-GMO, gluten-free, bioavailable and third-party lab tested for quality assurance,” with traceability from origin to sale.

    NuWu 420 celebration​

    NuWu Cannabis Marketplace is the largest recreational marijuana marketplace worldwide. The building spans nearly 16,000 square feet with 170 feet of display counters dedicated to recreational marijuana. It is hosting the first annual 420 two-day event in Vegas starting on Friday.   

    Sponsored by Canna Hemp, the event will feature music by hip-hop artist Kurupt, competitions with skateboarders Torey Pudwill, TJ Rogers, Jordan Maxham, Mikey Haywood, Tony Tave, Rag Doll and Grizzly Gang, and pop-up tents with free swag featuring the company's brands Canna Hemp, Canna Hemp X, Canna Hemp Paws, AMA, Canna Fused, Gotti's Gold, and The Real Kurupt Moonrocks.

    Canna Hemp X new products launch​

    The company's top performing Canna Hemp X CBD sports recovery line will be introducing four new products: CBD Recovery Elixir (Post-Work Out), Endurance Elixir (Pre-Work Out) and two lip balms.

    "Our company's focus is on the health and wellness of our customers and our products are specifically designed to combine the medicinal benefits of CBD and THC into all-natural products that aid in better living," Chris Rebentisch, founder of Infused MFG, a1933 subsidiary, said in a statement. "Our impressive portfolio of unique brands is growing with the addition of the Canna Fused suite of offerings and we continue to build our collection of high-quality hemp and CBD branded products that have wide appeal and are now available across the United States."

    Headquartered in Vancouver, 1933 is a cannabis company with operations in the United States and Canada. Operating via three subsidiaries, 1933 owns licensed medical and recreational cannabis cultivation and production assets, hemp-based, CBD infused products, CBD extraction services and a specialized cannabis advisory firm.

    In addition to its ownership of Infused MFG, the company owns 91% of Alternative Medicine Association and 100% of Spire Global Strategy.

    Contact Uttara Choudhury at uttara@proactiveinvestors.com

    Follow her on Twitter@UttaraProactive 

     

     

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    Thu, 18 Apr 2019 10:07:00 -0400
    Chemistree Technology updates on Washington state and California; Desert Hot Springs slated for completion in 1Q, 2020 https://www.proactiveinvestors.com/companies/news/218865/chemistree-technology-updates-on-washington-state-and-california-desert-hot-springs-slated-for-completion-in-1q-2020-218865.html https://www.proactiveinvestors.com/companies/news/218865/chemistree-technology-updates-on-washington-state-and-california-desert-hot-springs-slated-for-completion-in-1q-2020-218865.html Chemistree Technology Inc (CSE:CHM) (OTCMKTS:CHMJF), the US-focused cannabis firm, updated on the development of its assets in Washington state and California.

    Last month, the firm closed a previously announced offering and concurrent private placement for a total of C$10.8 million, aiming to use the funds to expand its facilities in Washington State, as well as launch the Sugarleaf brand in California.

    READ: Chemistree Technology shares advance as it sets to partner with Applied Cannabis Sciences of New Jersey

    On Thursday, Chemistree said it had received reports from its Washington state licensee partner on further progress, including the appointment of a new head cultivator, and the upgrading of 288 grow lights in flower and the sale of retrofitted lights for US$30,000, and is expected to improve crop yields by over 20%. There has also been a 20% increase in product units. New ones include Diamonds, Live Resin, RSO, and Crumble.

    Chemistree is also actively advancing its 9.55 acre Desert Hot Springs land package.

    "Our design team is currently in the process of finalizing plans for our two 64,000 square foot greenhouses and 40,000 square foot manufacturing and distribution facility for submission to the city of Desert Hot Springs. We expect city review to be completed by the third quarter of this year. The project continues to track on schedule with completion targeted for the first quarter of 2020," said newly appointed chief cannabis officer Sheldon Aberman.

    He added that in Washington state, with Chemistree as landlord and turnkey equipment provider, the team continued to do "a tremendous job in restoring Sugarleaf to its previous place in the Washington market for flower and pre-rolled products as well as introducing new exciting products to the market".

    "We are confident that this trajectory of success will continue and that Sugarleaf's loyal retail customers will continue to enjoy the high quality products and welcome the new offerings as they are rolled out."

    Contact Giles at giles@proactiveinvestors.

    Follow him on Twitter@Gile74 

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    Thu, 18 Apr 2019 09:56:00 -0400
    CROP Infrastructure moves ahead with its 2019 cultivation with new delivery at California facility https://www.proactiveinvestors.com/companies/news/218864/crop-infrastructure-moves-ahead-with-its-2019-cultivation-with-new-delivery-at-california-facility-218864.html https://www.proactiveinvestors.com/companies/news/218864/crop-infrastructure-moves-ahead-with-its-2019-cultivation-with-new-delivery-at-california-facility-218864.html CROP Infrastructure Corp (CSE:CROP) announced Thursday that it has received 1,000 four-foot tall cannabis plants at its Humboldt County farm in California.

    The plants are expected to have higher yields than previous plants as they are much taller and fuller, the company said in a statement.

    The Humbolt farm has a total of 10,000 square feet of indoor cultivation spread throughout five greenhouses, and an additional 20,000 square feet of outdoor grow acreage.

    READ: Crop Infrastructure establishes footprint in Oklahoma

    The cannabis licensed producer also announced that the farm has received approval from the Humboldt County Planning Department to expand its facility to include a 30,000 square foot automated light dep greenhouse facility and additional vault space.

    The new facility is expected to yield 12,000 pound per year and cost around $500,000 in capital expenditures. It will allow the company to cultivate crop throughout the year and triple the output of existing California infrastructure.

    "The company's manufacturing partners are finishing up the farms final products of the 2018 season and now we are preparing to scale up our operations with a new state of the art facility,” said CROP’s CEO Michael Yorke.

    “We will be particularly interested to see how these new, advanced plants perform."

    CROP's portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada cannabis farm, 2,115 acres of Hemp CBD farms, and a growing portfolio of common share equity in upcoming listings within the cannabis space.

    Shares of CROP were trading at C$0.31 in Canada at Wednesday’s close.

    Contact Angela at angela@proactiveinvestors.com

    Follow her on Twitter @AHarmantas

     

    ]]>
    Thu, 18 Apr 2019 09:38:00 -0400
    Empower Clinics and Cannvas MedTech launch program to educate patients on alternative CBD therapies https://www.proactiveinvestors.com/companies/news/218860/Empower-Clinics-and-Cannvas-MedTech-launch-program-to-educate-patients-on-alternative-CBD-therapies-218860.html https://www.proactiveinvestors.com/companies/news/218860/Empower-Clinics-and-Cannvas-MedTech-launch-program-to-educate-patients-on-alternative-CBD-therapies-218860.html Empower Clinics Inc (CSE:CBDT) (OTCMKTS:EPWCF) is partnering with a leading digital cannabis analytics company to place educational kiosks in each of its clinics to provide information, data and analysis of physician-recommended alternative CBD therapies.

    Together with its partner, Cannvas MedTech Inc (CSE:MTEC) (OTCMTKS:CANVF), Empower is initiating a pilot program to launch a comprehensive education, data collection and analysis program that sees Cannvas kiosks installed in Empower’s medical clinics.

    READ: Empower Clinics plans to change name to CBD Therapeutics

    The new partnership comes as Empower repositions its overall strategy to become a vertically integrated health and wellness company that connects to its 120,000 patients using a data-driven focus to improve patients' lives with products, technology and health systems, CEO Steven McAuley said in a statement.

    “The addition of the Cannvas educational kiosks, a user friendly and highly interactive education platform, is a tremendous step forward to making our brand one of the go-to sources for content for both patients and the medical community nationwide,” he said.

    Cannvas’ CEO Shawn Moniz said that the partnership represents an opportunity to bring unbiased cannabis education to a large population of patients looking for therapies to alleviate a number of ailments, while also learning more about what behaviours may drive the decision to look at cannabis as an alternative or complementary treatment.

    Cannvas will be a key data and analytics partner for Empower by providing insights on customer behaviours and industry trends and integrating existing data partnerships.

    Empower also plans to begin further pilot initiatives with Cannvas to provide content and educational links to Cannvas.me and Cannvas.health directly from the new Empower website www.empowerclinics.com and through its tele-medicine portal.

    Shares of Empower closed Wednesday at C$0.17 in Canada and US$0.14 in the US, while Cannvas shares were at C$0.26 in Canada and US$0.19 in the US.

    Contact Angela at angela@proactiveinvestors.com

    Follow her on Twitter @AHarmantas

    ]]>
    Thu, 18 Apr 2019 09:12:00 -0400
    Next Green Wave kicks off cannabis production in California https://www.proactiveinvestors.com/companies/news/218851/next-green-wave-kicks-off-cannabis-production-in-california-218851.html https://www.proactiveinvestors.com/companies/news/218851/next-green-wave-kicks-off-cannabis-production-in-california-218851.html Next Green Wave Holdings Inc (CSE:NGW) (OTCMKTS:NXGWF) announced Thursday that it has received an occupancy permit for its first indoor production facility from the City of Coalinga.

    As a result, the company is now a licensed producer and is moving up its cannabis production with 10,000 plantlets.

    WATCH: Next Green Wave officially becomes a licensed producer in California

    Next Green Wave said it will kick off its cultivation program at its 35,000-square-foot facility in Coalinga, California immediately as it receives its first plantlets to house “a perpetual harvest cycle” of approximately 50 yields per year.

    Each growth to point-of-sale cycle is expected to last four months. The building is equipped with 14 climate-controlled flowering rooms which are expected to produce 9,150 pounds of cannabis flower annually.   

    The raw material and biomass grown from Next Green Wave’s facility will be used for extraction for downstream consumer products such as oils, waxes, tinctures and extracts for custom vaporizer products associated with the company’s WEARESDC partner brands and other licensed cultivators in the wholesale supply-chain.

    “Beginning the production cycle is a critical milestone for us and a clear testament of our efforts,” said Next Green Wave CEO Leigh Hughes in a statement. “We completed all our due-diligence to ensure our supply-chain and facility protect the quality and integrity of our product and safety of our staff.”

    Hughes said the company was “poised for growth” and ready to “amass a considerable stake of California’s premium cannabis market.”

    Last month, Vancouver-based Next green Wave said its acquisition of SD Cannabis Ventures LLC and its investment in Organic Medical Growth are poised to drive revenue in 2019 and help with the execution of its distribution and product development in California.

    Contact Uttara Choudhury at uttara@proactiveinvestors.com

    Follow her on Twitter@UttaraProactive 

    ]]>
    Thu, 18 Apr 2019 07:44:00 -0400
    Cannabis One Holdings bolsters portfolio with Fat Face Farms brand acquisition https://www.proactiveinvestors.com/companies/news/218798/cannabis-one-holdings-bolsters-portfolio-with-fat-face-farms-brand-acquisition-218798.html https://www.proactiveinvestors.com/companies/news/218798/cannabis-one-holdings-bolsters-portfolio-with-fat-face-farms-brand-acquisition-218798.html Cannabis One Holdings Inc (CSE:CBIS) announced encouraging news Wednesday that it has closed its previously-announced acquisition of the Fat Faced Farms brand. Fat Faced Farms is a cannabis cultivation facility located in Denver, Colorado. 

    The Denver-headquartered firm has been busy lately as it focuses on aggregating and optimizing popular cannabis brands throughout North America.

    "In addition to bringing the Fat Face Farms brand under the Cannabis One umbrella and overseeing the development of our proprietary Cheech's Private Stash-licensed line of branded products, the Fat Face Farms team and its master grower, Josh Monroe, bring a wealth of industry knowledge and experience to CBIS," said Jeffery Mascio, chief executive officer of Cannabis One in a statement. 

    Fat Face Farms a "premier choice" 

    "We believe the Fat Face Farms team represents the premier choice in cultivation and we look forward to their leadership and guidance as we seek to replicate their success in Colorado to bring the group's advanced cultivation knowledge and techniques to each new, state-legal market we may enter," added Mascio. 

    Fat Face Farms is a "perennial favourite amongst consumers," and was the sole entrant out of 50 in the 2018 Colorado Grow Off to place among the top 10 in each ranked category: terpene profile, potency and yield.

    "We are extremely enthusiastic to be joining the Cannabis One family, especially at such an early stage in the development of its North American expansion plan," said Josh Monroe, managing member of Fat Face Farms. "Having already established Fat Face Farms as a leader in the Colorado market over the past nine years -- supplying some of the largest dispensaries in the state -- we are excited by the opportunity to now bring our unique brand of cultivation expertise to canna-curious consumers in new, state-legal markets, such as California, Nevada and Washington, as such endeavours may arise, and in all new markets we may enter moving forward."

    Cannabis One continues to expand

    Cannabis One is focused on expanding its business model nationally through the aggregation of premium cannabis brands and operations. 

    It's aiming to become a globally recognized house of brands with a portfolio of clients that offer award-winning products, with extensive markets. 

    The firm is well on its way, with its franchise-ready retail brand, The Joint, as it continues to target acquisition and partnership opportunities. 

    Deal details

    Under the terms of the deal, Canabis One's wholly owned Colorado subsidiary has acquired certain assets of Fat Face Farms (JBC), including leasehold rights, intellectual property and equipment. The company noted it has not acquired any interest in regulated inventory or licences related to the cultivation, manufacture, distribution, or sale of cannabis or cannabis-related products in connection with the transaction.

    The deal is valued at US$1.1 million and under the deal terms, JBC will receive 37,358 Class B supervoting shares of Cannabis One, at a share price equal to US$39.28, with a total value of US$1.1 million. The company noted each share is convertible into 10 Class A subordinated voting shares of Cannabis One. 

    Shares of Cannabis One were at C$4.05 on Wednesday in Toronto and at $3.04 in New York. 

    Contact Katie Lewis at katie@proactiveinvestors.com

    ]]>
    Wed, 17 Apr 2019 16:53:00 -0400
    Buds & Duds: Cannabis stocks cruise; WeedMD perks up on news of first Pioneer Cannabis retail store https://www.proactiveinvestors.com/companies/stocktube/13053/buds--duds-cannabis-stocks-cruise-weedmd-perks-up-on-news-of-first-pioneer-cannabis-retail-store-13053.html https://www.proactiveinvestors.com/companies/stocktube/13053/buds--duds-cannabis-stocks-cruise-weedmd-perks-up-on-news-of-first-pioneer-cannabis-retail-store-13053.html Buds today are WeedMD (CVE:WMD) (OTCMKTS:WDDMF), The Green Organic Dutchman Holdings Inc (TSE:TGOD) (OTCMKTS:TGODF). The duds are Aphria Inc (TSE:APHA) (NYSE:APHA), Auxly Cannabis Group Inc (CVE:XLY) (OTCMKTS:CBWTF). 

    ]]>
    Wed, 17 Apr 2019 16:23:00 -0400
    Antibe Therapeutics is a potential game changer in pain management https://www.proactiveinvestors.com/companies/stocktube/13052/antibe-therapeutics-is-a-potential-game-changer-in-pain-management-13052.html https://www.proactiveinvestors.com/companies/stocktube/13052/antibe-therapeutics-is-a-potential-game-changer-in-pain-management-13052.html Antibe Therapeutics (CVE:ATE, OTCQB:ATBPF) CEO Dan Legault joined Steve Darling from Proactive Investors Vancouver to talk about a biotech company with a pipeline of drugs targeting pain and inflammation. Antibe's pipeline addresses significant unmet medical needs, especially concerning the safety and addictive properties of today's pain therapeutics. Legault also chatted with Proactive about a recently published paper in the British Journal of Pharmacology, providing extensive information about the successful Phase 2B safety trial for its lead drug.

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    Wed, 17 Apr 2019 16:09:00 -0400
    LithiumOre receives exciting preliminary geophysical results on its Nevada lithium project https://www.proactiveinvestors.com/companies/stocktube/13050/lithiumore-receives-exciting-preliminary-geophysical-results-on-its-nevada-lithium-project-13050.html https://www.proactiveinvestors.com/companies/stocktube/13050/lithiumore-receives-exciting-preliminary-geophysical-results-on-its-nevada-lithium-project-13050.html LithiumOre Corp (OTCMKTS:ORRP) CEO Doug Cole tells Proactive Investors the Nevada-based lithium exploration company has preliminary geophysical survey results that indicate major conductivity from around 1200 ft down to 3500 ft.

    Cole says because of these exciting geophysical results, the mining company will be drilling an extra 1000 ft to 3500 ft into its first hole.

    ]]>
    Wed, 17 Apr 2019 15:53:00 -0400
    Milestone for Dyadic International as it begins trading on Nasdaq https://www.proactiveinvestors.com/companies/stocktube/13039/milestone-for-dyadic-international-as-it-begins-trading-on-nasdaq-13039.html https://www.proactiveinvestors.com/companies/stocktube/13039/milestone-for-dyadic-international-as-it-begins-trading-on-nasdaq-13039.html Dyadic International Inc's (NASDAQ:DYAI) chief commercial officer Matthew Jones speaks to Proactive London during what's been a significant week for the company as it begins trading on Nasdaq.

    The Jupiter, Florida-based biotechnology platform company, engages in the development, and large scale manufacture of low-cost enzymes and other proteins for diverse market opportunities in the United States and Europe.

    ]]>
    Wed, 17 Apr 2019 15:50:00 -0400
    Curaleaf Holdings has a strong balance sheet and see major growth for rest of 2019 https://www.proactiveinvestors.com/companies/stocktube/13048/curaleaf-holdings-has-a-strong-balance-sheet-and-see-major-growth-for-rest-of-2019-13048.html https://www.proactiveinvestors.com/companies/stocktube/13048/curaleaf-holdings-has-a-strong-balance-sheet-and-see-major-growth-for-rest-of-2019-13048.html Curaleaf Holdings (CNSX: CURA-OTC:CURLF) CEO Joseph Lusardi joined Steve Darling from Proactive Investors to talk about the company that has seen some major milestones in a short time.
    They raised $400 million and debuted as a public company on the Canadian Securities Exchange this past October.  Managed Revenue grew to $34.9 million, up 43% over the prior quarter. Total revenue reached $32.0 million, representing 49% growth over the prior quarter.

    Lusardi talked about the company's success and how the company sees the rest of this year and beyond. He also addressed Curaleaf's most recent acquisition and the California company Eureka. 

    ]]>
    Wed, 17 Apr 2019 15:36:00 -0400
    Energy Fuels excited to see uranium imports report is now on the President's desk https://www.proactiveinvestors.com/companies/stocktube/13047/energy-fuels-excited-to-see-uranium-imports-report-is-now-on-the-president-s-desk-13047.html https://www.proactiveinvestors.com/companies/stocktube/13047/energy-fuels-excited-to-see-uranium-imports-report-is-now-on-the-president-s-desk-13047.html Energy Fuels Inc (TSE:EFR) (NYSEMKT:UUUU) CEO Mark Chalmers tells Proactive Investors the uranium mining company is excited the US Department of Commerce has submitted the section 232 report to the White House into the effects of uranium imports on US national security.

    While President Donald Trump has 90 days from April 14 to act on the DOC's recommendations, Chalmers believes Trump could make a decision in the next few days.

    ]]>
    Wed, 17 Apr 2019 15:23:00 -0400
    Khiron Life Sciences continues to see great potential for growth in Latin America https://www.proactiveinvestors.com/companies/stocktube/13046/khiron-life-sciences-continues-to-see-great-potential-for-growth-in-latin-america-13046.html https://www.proactiveinvestors.com/companies/stocktube/13046/khiron-life-sciences-continues-to-see-great-potential-for-growth-in-latin-america-13046.html Khiron Life Sciences (CVE:KHRN) President Chris Naprawa joined Steve Darling from Proactive Investors Vancouver to talk about the cannabis company that operates in Latin America. Naprawa talking about the success they have had, how Brazil could be quite lucrative next step for the company.

    Naprawa also told Proactive about a joint venture they have done with Dixie Brands and how that partnership really benefits both companies in the future. 

    ]]>
    Wed, 17 Apr 2019 15:02:00 -0400
    Parallax Health Sciences CEO outlines 2019 goals for tele-health services business https://www.proactiveinvestors.com/companies/stocktube/13045/parallax-health-sciences-ceo-outlines-2019-goals-for-tele-health-services-business-13045.html https://www.proactiveinvestors.com/companies/stocktube/13045/parallax-health-sciences-ceo-outlines-2019-goals-for-tele-health-services-business-13045.html Parallax Health Sciences Inc (OTCMKTS:PRLX) CEO Paul Arena tells Proactive Investors timing is everything for the data-driven connected healthcare company, as he says the company is gearing up to launch its remote patient monitoring platform over the next 3 months.

    Arena says the company is raising $6 million to expand the business within the US and internationally.

    ]]>
    Wed, 17 Apr 2019 14:16:00 -0400
    Gold Resource Corp looking to shine this year as Isabella Pearl poised to add near term production https://www.proactiveinvestors.com/companies/news/218797/gold-resource-corp-looking-to-shine-this-year-as-isabella-pearl-poised-to-add-near-term-production-218797.html https://www.proactiveinvestors.com/companies/news/218797/gold-resource-corp-looking-to-shine-this-year-as-isabella-pearl-poised-to-add-near-term-production-218797.html
  • Targeting low cost, high margin gold and silver production
  • Eight consecutive years of profitability
  • Targeting over 100% increase to gold production with new project (Isabella Pearl)
  • Two mining units focused on the Americas
  • Shareholders have received monthly dividends since commercial production started in mid-2010
  • What is Gold Resource Corp?

    Goro (NYSEAMERICAN:GORO) is a resource group, which runs two mining units in mining friendly jurisdictions - Mexico and Nevada.

    Mexico

    The Oaxaca unit operates the producing Arista underground mine at the El Aguila project, where initial output started in 2011. It is also advancing the Mirador underground mine at theAlta Gracia project, which it says has the potential to increase future annual silver production by around 500,000 silver ounces and 1,000 gold ounces.

    The El Aguila mill is the site for processing from both mines. In all, the Mexican unit has six properties, including El Aguila and Alta Gracia, which span 684 square kilometers. The four other exploration properties are Las Margaritas, El Fuego, El Chamizo and El Rey.

    Nevada

    The  Nevada unit controls over 10,100 hectares (25,000 acres) of development and exploration lands in the US state's south central Walker Lane mineral belt.

    The focus of attention is currently the Isabella Pearl project, which is currently in construction, with first gold expected in June this year, and cash flow from this is expected to finance the additional property development.

    The company's other three properties in the  state are the County Line, Mina Gold and East Camp Douglas assets.  All have potential to be high-grade open pit heap leach operations, the firm says.

    Isabella Pearl mine key to growth

    GORO is targeting the first gold pour at Isabella Pearl by June 19 this year. The project covers 494 mining claims comprising 3,642 hectares and the firm is targeting 153,047 gold ounces from  an open pit heap leach operation. Envisaged is two adjacent open pits with the Isabella pit averaging around 1 gram per tonne (g/t) gold and the Pearl pit averaging around 3.7 grams per tonne gold with a higher-grade core averaging nearly 5 grams per tonne gold. The mine life is 4.5 years.

    Small amounts of silver are also anticipated, which would be treated as by-product credits against gold production costs.

    Capital expenditure to build the project is low - at US$30 million - and the estimated cash cost per ounce has been put at around US$650.

    Last month, the potential of Isabella Pearl was further boosted as GORO revealed plans to enlarge the deposit by testing the adjacent Civit Cat North West and Scarlet targets.

    It is not uncommon for numerous deposits to lie on the same trend, so Gold Resource  reckons these two targets could become additional open pit deposits.

    “We know at least four historic open pit gold deposits operated south east along this same mineralized trend with the nearest one producing about 300,000 ounces of gold,” the firm said last month.

    Positive 4Q earnings

    In February this year, the group reported a positive annual reserves report and 4Q financials.

    Jason Reid, chief executive, said: "We had a great year on the exploration front. We replaced all the tonnes we mined during the year. We increased the tonnes by 16%, the gold ounces by 18% and the silver ounces by 14%. This is one of our best proven and probable reserves to date."

    The company boss also revealed he was proud to announce the firm's eighth consecutive year of profitability. "That's no small feat in any industry - especially not in the mining space," he exclaimed.

    Maintains annual guidance for Mexico operations

    On April 17, the group repeated its annual production guidance for its Mexico operations as it posted first-quarter output numbers.

    For its Oaxaca unit, the group is forecasting 27,000 gold ounces and 1.7 million silver ounces, plus or minus 10%.

    And for the three months to end March, 2019, the miner said it produced approximately 6,538 ounces of gold, 364,653 ounces of silver and 'significant' base metals.

    What analysts have said:

    Wainwright last month  started coverage on the stock with a 'Buy' rating and US$7.75 price target (current price: US$3.85), saying it liked the company's focus on low-cost, cash flow generating projects.

    GORO provides investors with "a balance of precious and base metal production in geographically favorable jurisdictions with additional near-term gold production," it said.

    Inflection points

    First gold at Isabella Pearl
    First quarter results
    Mirador project advances
    Exploration results

    ]]>
    Wed, 17 Apr 2019 14:09:00 -0400
    THC Global's Canadian division boosts revenue 22% in March quarter https://www.proactiveinvestors.com/companies/news/218732/thc-global-s-canadian-division-boosts-revenue-22-in-march-quarter-218732.html https://www.proactiveinvestors.com/companies/news/218732/thc-global-s-canadian-division-boosts-revenue-22-in-march-quarter-218732.html THC Global Group Ltd's (ASX:THC) Canadian hydroponics equipment division Crystal Mountain increased revenue in the March quarter primarily due to stronger sales in the lighting and lighting equipment product ranges.

    Crystal Mountain grew revenue to $991,000, a 22% increase on the previous quarter. 

    New distribution agreements

    The division is also securing distribution agreements within Canada and has expanded into Europe and the United Kingdom.

    READ: THC Global Group expands into Asia with partnership

    As these distribution agreements are settled and products come on sale, the company expects to see stronger sales in these regions.

    Expanded product range

    Crystal Mountain has expanded its product range through distributing new products imported from partners across Canada, and soon internationally.

    The division is also exploring new sales channels including online cannabis-focused offerings targeted to the micro-cultivator market, which is rapidly increasing in Canada.

    THC Global chief executive officer Ken Charteris said: “We are pleased to see our hydroponics equipment division continue to grow, particularly through our partnership strategy as we are able to both expand our product offering and broaden our market reach - both of which are core drivers of revenue growth.”

    READ: THC Global Group opens SPP and notes near term milestones

    Earlier this month THC Global opened a share purchase plan offering shareholders to apply for up to $15,000 worth of additional shares at 50 cents each.

    The company also released its April 2019 briefing note, which highlighted the near-term outlook for the company including the receipt of final Australian cannabis licenses and permits enabling two manufacturing facilities and cultivation sites.

    Near-term outlook

    It also listed signing key offtake agreements for products and securing cannabis supply through domestic production in its near-term outlook.

    In addition to its core medicinal cannabis business, THC Global owns two Canadian companies - Crystal Mountain Products and Vertical Canna Inc.

    Crystal Mountain is a revenue-generating global hydroponics retailer and distributor of equipment, material, and nutrients to cannabis growers and producers.

    Vertical Canna is an investment vehicle through which THC Global intends to build, through acquisitions and strategic partnerships, a vertically integrated Canadian cannabis producer and retailer.

    ]]>
    Wed, 17 Apr 2019 13:52:00 -0400
    Gem miner Shefa Yamim's name change reflects evolving business, says new chairman https://www.proactiveinvestors.com/companies/stocktube/13044/gem-miner-shefa-yamim-s-name-change-reflects-evolving-business-says-new-chairman-13044.html https://www.proactiveinvestors.com/companies/stocktube/13044/gem-miner-shefa-yamim-s-name-change-reflects-evolving-business-says-new-chairman-13044.html Shefa Yamim Ltd's (LON:SEFA) new chairman, Michael Rosenberg, tells Proactive Investors the Israeli gem miner plans to change its name to Shefa Gems Ltd at its annual general meeting next month.

    Rosenberg says there are very few UK-listed companies in this particular market, which allows Shefa to present a unique prospect to investors, as the business shifts from exploration to an operational mine next year.

    ]]>
    Wed, 17 Apr 2019 13:10:00 -0400
    PreveCeutical partnership leads to two new patent filings targeting non-addictive alternatives to opioid painkillers https://www.proactiveinvestors.com/companies/news/218795/preveceutical-partnership-leads-to-two-new-patent-filings-targeting-non-addictive-alternatives-to-opioid-painkillers-218795.html https://www.proactiveinvestors.com/companies/news/218795/preveceutical-partnership-leads-to-two-new-patent-filings-targeting-non-addictive-alternatives-to-opioid-painkillers-218795.html PreveCeutical Medical Inc (CSE:PREV) (OTCMKTS:PRVCF) unveiled promising news Wednesday that it has applied for two patents in Australia alongside research collaboration partner UniQuest (UQ) and The University of Queensland in developing non-addictive alternatives to opioid painkillers, through the use of cyclic peptides. 

    The Vancouver-based company's efforts in peptide research for pain relief are ramping up, and the two new Australian patent applications are based on the company's research collaboration UQ and UniQuest, with new intellecutal property being discovered from its non-addictive analgesics program at UQ.

    "The research program aims to develop a non-addictive alternative to opioid painkillers by developing cyclic peptides. Opioid-based pain treatments such as morphine, codeine and fentanyl activate the mu opioid receptor, which can be highly addictive," said PreveCeutical President and Chief Science Officer Dr Mak Jawadekar in a statement. "This research provides a potential mechanism for pain treatment without activating that receptor. An additional potential advantage of the cyclic peptides is their enhanced metabolic stability and more importantly oral bioavailability, meaning that they could be taken orally rather than intravenously."

    Peptides are currently being used to target an array of disease indications including metabolic disorders, pain, cancers, cardiovascular and infectious diseases.

    READ: PreveCeutical Medical applies to acquire human tissue for next phase of Sol-gel technology testing

    It's clear that the opioid epidemic has led to significant numbers of opioid-related deaths and addictions, taxing public health care systems and affecting social and economic welfare.

    PreveCeutical currently has five research and development programs underway, including gene therapy for diabetes and obesity, non-addictive analgesic peptides to replace fentanyl and the like, and soluble drug delivery program, among others.

    The two-year research program into the peptides and its potential application as a treatment for pain, is being led by UQ School of Pharmacy researchers, Associate Professor Peter Cabot and Dr Harendra (Harry) Parekh. UQ specializes in commercialising intellectual property of The University of Queensland. 

    "The patent applications represent an important milestone in our relationship with PreveCeutical and follow the entry into three other research agreements with PreveCeutical in recent years, including an agreement to stabilise peptides isolated from scorpion venom for use in immune-boosting applications; an agreement for the development of a new formulation to deliver cannabinoids directly to the central nervous system via the nasal cavity; and an agreement for a gene therapy to treat diabetes and obesity," said UniQuest CEO Dr Dean Moss. 

    Shares of PreveCeutical were at C$0.07 in Toronto and at US$0.05 in New York on Thursday. 

    Contact Katie Lewis at katie@proactiveinvestors.com 

    ]]>
    Wed, 17 Apr 2019 12:34:00 -0400
    Dixie Brands deal with Khiron to gain access to Latin America cannabis market https://www.proactiveinvestors.com/companies/stocktube/13043/dixie-brands-deal-with-khiron-to-gain-access-to-latin-america-cannabis-market-13043.html https://www.proactiveinvestors.com/companies/stocktube/13043/dixie-brands-deal-with-khiron-to-gain-access-to-latin-america-cannabis-market-13043.html Dixie Brands (CNSX:DIXI.U-OTC-DXBRF) President and CEO Chuck Smith sat down in the Toronto Studio of Proactive Investors to tell Steve Darling about their company that is a leading provider of cannabis edibles in the United States. The Denver based company makes products that include beverages, chocolates, gummies and mints.

    Smith Telling Proactive they see a real opportunity for growth after signing a deal with Khiron Life Sciences, that will see them bring more than 100 products into Latin America.

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    Wed, 17 Apr 2019 11:52:00 -0400
    Slang Worldwide signs big deal to expand U.S. footprint in Washington State https://www.proactiveinvestors.com/companies/stocktube/13042/slang-worldwide-signs-big-deal-to-expand-us-footprint-in-washington-state-13042.html https://www.proactiveinvestors.com/companies/stocktube/13042/slang-worldwide-signs-big-deal-to-expand-us-footprint-in-washington-state-13042.html Slang Worldwide (CNSX-SLNG) CEO Peter Miller joined Steve Darling from Proactive Investors Vancouver from Toronto to talk about the company that is an industry leader in branded consumer products in cannabis. Slang in 2600 hundred stores, in 11 states, and on 5 continents.

    Miller also told Proactive about a deal they recently signed with Arbour Pacific that gets them access to well-known products in Washington State. He also talked about an honour he recently received from High Times Magazine.

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    Wed, 17 Apr 2019 11:47:00 -0400