Valens GroWorks reports strong Q-2 numbers increasing revenue by 296% Valens GroWorks (CVE: VGW) President Jeff Fallows joined Steve Darling from Proactive Investors in Toronto to talk about Valens strong Q-2 numbers. Fallows talked about the rise in revenue and what is driving that.

Fallows also telling Proactive about the growth on the operations side and how the company plans on handling even more. 

Fri, 19 Jul 2019 14:04:00 -0400
Capstone Turbine distributor says its microturbines continued to run despite recent NYC blackout Cory Glick, President of Reliable Secure Power Systems (RSP), the exclusive distributor for Capstone Turbine Corporation (NASDAQ:CPST) tells Proactive Investors the firm's microturbines powered through the recent blackout that plunged a broad swath of Manhattan into darkness.

Glick says the units are fed by pipeline natural gas, and its technology can be configured to run grid-parallel 24/7 and also as stand-alones, even during power outages

Fri, 19 Jul 2019 13:34:00 -0400
Gold at new six year high as Fed members tease markets and Middle East tensions remain high The gold price punched through a new six year high in mid-morning trade on Friday, topping out at US$1,437 per ounce by noon.

Wider markets took note, but weren’t overly interested as gold had only gone through previous six year highs a few weeks earlier.

The trajectory is clear enough, and while the market professionals took it all in their stride it was interesting to see the new gold price highs headlining close to the top of the Guardian website alongside not-unrelated headlines about the US downing of an Iranian drone in the Persian Gulf and the latest convulsions in US domestic politics about race.

True, gold has primarily been on the move because of recent statements from members of the Federal Open Markets Committee, which is due to make a decision about US interest rates shortly.

Fed Vice Chairman Richard Clarida and New York Fed boss John Williams both stressed the need for “decisive” action should the US economy show any signs of significant slowdown. That was interpreted by markets as signifying a slightly greater likelihood of a half point rate cut as opposed to the less aggressive quarter point cut that most are now expecting, although a spokesperson for the New York Fed subsequently tried to play down Mr Williams’s comments.

Still, since the market has been anticipating a rate reduction for some time, comments about how decisive such cuts should be would seem to indicate it’s now a matter of when and not if.

That’s all to the good for gold, although it remains to be seen if there will be a significant bout of profit-taking when and if the rate cut does come. One might anticipate that if the cut comes in at only a quarter point then those that are overly long gold might sell off in significant numbers.

But still, there remains that wider context to consider.

A Reuters report on Thursday detailed how the US is having trouble building a coalition of the willing to put together a more formal system of military escort for vessels in the Persian Gulf. The world has by and large looked on with scepticism and wonder at the ways in which President Trump has broken with precedent in US foreign policy, principally because so far it’s only involved economic pressure and rhetoric.

That the US bosses the global financial system is nothing new, even if it is unpleasant to be reminded of the fact so crudely. What is new is the ratcheting up of pressure from Iran, done, in the assessment of a now former British ambassador to Washington, purely to “spite” President Obama.

That may be oversimplifying it a bit, but it’s certainly true to say that where in the past the US sought to use its overarching power to balance the various competing interests in the Middle East, it’s now acting as a much more polarising force. Thus, we have the superficially surprising spectacle of an Israel-Saudi axis backed by the US, facing off against Iran and its proxies in Lebanon and Yemen, while off to one side Turkey is quietly sidling up to Russia.

It’s a geopolitical shift that has no real support in Europe, but which Europe is also pretty much powerless to contest.

In such a context, with the President apparently wilfully stirring up the cauldron of racial conflict that is almost continually brewing at home, the world doesn’t look like a particularly safe place to be.

The Fed’s calculations centre more on the economic damage tariffs are likely to do to the global economy, but in a way it’s all part and parcel of the same dynamic: US global hegemony is gradually slipping away.

That can only precipitate longer periods of uncertainty, or to put it another way, the perfect environment in which to buy and hold gold.







Fri, 19 Jul 2019 13:14:00 -0400
Aridis Pharmaceuticals' cystic fibrosis drug earns orphan designation in Europe Aridis Pharmaceuticals Inc (NASDAQ:ARDS) announced Friday that its inhaled treatment for lung infections caused by cystic fibrosis has been granted Orphan Drug Designation by the European Medicines Agency (EMA).

Orphan Drug Designation is awarded to companies developing treatments for life-threatening or debilitating conditions that affect fewer than 1 in 10,000 people. It affords Aridis a 10-year period of exclusive marketing for its drug AR-501 in the European Union and reduced fees from the EMA during product development.

In June, the drug earned a similar orphan status from the US Food and Drug Administration.

READ: Aridis Pharmaceuticals poised for readout of top-line data for its flagship AR-105 treatment in 3Q

"Receiving orphan designation from the EMA for AR-501 is an important step in ensuring the program is well positioned from a global regulatory development pathway standpoint as we continue to advance its ongoing Phase 1/2a clinical trial," Aridis CEO Vu Truong said.

"We remain on track to report data from the Phase 1 segment of the trial consisting of healthy subjects in Q1 2020 and the Phase 2a portion with cystic fibrosis subjects in Q2 2021."

Cystic fibrosis is a genetic disease that leaves the lungs in an imuno-compromised state, leading to frequent infections. AR-501 is being developed as a weekly inhaled treatment, and preclinical data has shown its safety when used in conjunction with antibiotics.

The San Jose, California company’s stock climbed 3.2% to $10.12 on Friday.

Contact Andrew Kessel at

Follow him on Twitter @andrew_kessel

Fri, 19 Jul 2019 11:35:00 -0400
Clinigen Group says acquisitions fueling expected profit growth in its trading update Clinigen Group PLC (LON:CLIN) Head of Investor Relations Matthew Parrish tells Proactive Investors the company's recent trading update indicates that profits at the pharma services company are expected to have soared by more than a third when it reports its full-year results in September.

Gross profits were up 30%, while revenues increased by 19%, and Parrish says this significant growth was driven by M&A with the firm having closed two of its largest ever acquisitions last year.

Fri, 19 Jul 2019 11:33:00 -0400
Buds & Duds: Cannabis stocks level out Friday; Flowr shares soar as CannTrust shares continue to slip Cannabis stocks cruised into Friday with a healthy mix of green and red across North American markets.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was up 0.3% to 220.6 points on Friday. The Horizons Marijuana Life Sciences Index ETF was up 0.1% to C$16.95. The OTCQX Cannabis Index was up 0.5% at 716.2 points.


The Flowr Corporation (CVE:FLWR) (OTCMKTS:FLWPF) shares soared on Friday after announcing that it has decided not to proceed with an equity offering.

The cannabis company had released plans to raise C$125 million for its acquisition of Holigen Holdings Ltd, a European-based cannabis company developing large-scale GMP-compliant grow facilities in Portugal and Australia, of which Flowr owns 19.8%.

Shares of Flowr jumped on Friday, up 18.3% at C$4.73 in Toronto, and up 18.6% at US$3.64 in New York. 

Earlier this week, the company announced it had received a second site cultivation license from Health Canada for its Flowr Forest project, an expanded indoor and outdoor cultivation area with a total licensed grow space of over 530,000 square feet in Kelowna, British Columbia.

READ: Flowr says it is not proceeding with equity offering; shares soar

Shares of CBD manufacturer Isodiol International Inc (CSE:ISOL) (OTCQB:ISOLF) were on the rise Friday, up 7.5% to US$0.48 in US trading. 

The firm announced Thursday it was terminating its deal to acquire multiple assets under the Carlsbad Naturals LLC umbrella. The assets were to be acquired by Iso International, a wholly owned subsidiary of Isodiol International.

The firm said the cancellation of the deal came came "as a result of Carlsbad New Mexico and Carlsbad Wyoming’s failure to perform their respective obligations under the agreements, including the obligation to transfer to the company the intellectual properties, brands and other assets that formed the subject matter of the transactions," noted the firm in a statement. 

READ: Curaleaf has big plans to build the largest cannabis brand in the United States

Other gainers Friday included Curaleaf Holdings (CSE:CURA) (OTCMKTS:CURLF) which had a busy week, after announcing a mammoth US$875 million deal to acquire private producer GR Companies Inc (Grassroots) earlier in the week.

The deal expands Curaleaf’s footprint to 19 states from 12, including Illinois, which recently became the 11th state to legalize recreational marijuana. The combined entity will have 131 dispensary licences, 68 operational locations and 20 cultivation sites.

Shares were up 7.7% at C$10.72 in Canadian trading, up 6.7% at US$8.16 in New York.


CannTrust Holdings Inc (TSE:TRST) (OTCMKTS:CNTTF) stock continued to sink Friday, following a tumultous few weeks after the company was dinged by Health Canada for cultivating cannabis in grow rooms that didn't have a licence to operate at its Pelham, Ontario facility.

It's estimated the company grew 12,700 kgs of cannabis illegally. Health Canada federal inspectors are currently auditing the firm. According to reports, CannTrust's board has hired a Bay Street law firm, while appointing a sporting goods executive Robert Marcovitch to lead a special committee to figure out how the breach occurred. 

Shares were down 4.7% at C$3.66 in Toronto, and down 4.8% at US$2.79 in New York. Since the news broke, CannTrust shares have dropped by more than 40%. 

Other laggards Friday included Terra Tech Corp (OTCMKTS:TRTC), down 2.7% at US$0.39, and cannabis packaging company KushCo Holdings Inc (OTCMKTS:KSHB), which was down 5.7% at US$4.65 in New York.

Contact Katie Lewis at

Fri, 19 Jul 2019 11:20:00 -0400
Enertopia expects lithium test results in early August; receives short-term loan Enertopia Corporation (CSE:TOP) (OTCMKTS:ENRT) announced Friday that President Robert McAllister is extending the company a short-term loan of C$20,000 ahead of expected lithium solution test results.

The Kelowna, British Columbia-based company said that it expects the next set of test results to be received in early August from a third-party laboratory.

READ: Enertopia extends testing for Clayton Valley lithium project after latest batch of positive findings

The company is running tests on grain sizing and lithium grades per grain sizing, pre-strip and reagent testing on impurity levels from drilled horizons at the project.

The loan provides for a 10% annual interest and is repayable in 90 days, according to a statement from Enertopia.

The lithium company’s flagship asset is the Clayton Valley brine project in Nevada, located near Albermarle’s Silver Peak lithium mine.

Contact Angela at

Follow her on Twitter @AHarmantas


Fri, 19 Jul 2019 11:17:00 -0400
Avivagen commercializing its OxC-beta livestock product around the world Avivagen Inc (TSXV:VIV) CEO Kym Anthony tells Proactive Investors the Canadian life sciences company has developed and begun commercializing its OxC-beta Livestock product that promotes immune functions in livestock in the the Philippines, Taiwan, New Zealand and Thailand.

Anthony says the product, which has been shown to be effective in replacing the antibiotics added to livestock feeds, will soon be entering the US market.

Fri, 19 Jul 2019 11:07:00 -0400
BevCanna study finds more than 70% of Canadian consumers would buy CBD-infused beverages BevCanna Enterprises Inc (CSE:BEV) (OTCMKTS:BVNNF) announced Friday that a recent study found more than 70% of Canadian consumers would “definitely” or “probably” purchase CBD-infused beverages.

An independent research group, which conducted the survey on behalf of BevCanna, polled over 2,000 adults of legal drinking age in the US and Canada on their interest and preferences in current and potential cannabis products, according to a statement.

Results of the survey come as cannabis-infused beverages are expected to be legalized in Canada this October.

READ: BevCanna launches new CBD-infused beverage line to hit shelves in October

BevCanna will launch its first cannabis-infused beverage product, Anarchist Mountain Beverages, when legalization becomes official.

Those surveyed in Canada, New York and California were asked about their likelihood to purchase cannabis products, their preferred format (edibles, beverages, topicals, etc.) and most likely consumption occasions (pain relief, sleep aid, relaxation, etc).

BevCanna said the study found that more Canadians are aware of THC-based cannabis products, with smokable/combustible forms of cannabis (via joints, bongs and pipes) currently the most common methods of consumption.

Most interest in CBD-based beverages 

But it was CBD-based beverages that had the highest future purchase intent -- 70% among consumers. The study also found that consumers across all regions see CBD-infused beverages as contributing to a healthy lifestyle.

Among 25 product concepts, BevCanna said the top performing include ready-to-drink spring water-based beverages, which consumers see as complementary to their quality of life and contributing to their wellbeing.

The survey also noted that while Canadian consumers would also consider THC beverages as a means to relax and unwind, they tend to associate THC with consumption occasions such as hanging out with friends or social gatherings.

The study also found that 45% of Canadian consumers don’t associate cannabis with alcohol, viewing each as suitable for completely separate consumption occasions, BevCanna said.

Canadian consumers excited

The Vancouver-based company said the survey’s results show Canadian consumers are excited to try cannabis-infused beverages. 

“The opportunity for brand builders is to leverage clean ingredients, in compelling and crave-worthy beverages that appeal to a health-conscious consumer” said Emma Andrews, chief commercialization officer at BevCanna.

“Our research indicates that consumers are eager to try infused beverages to reduce/relieve pain, at the end of the day to relax or unwind, or to help them achieve a more restful sleep, even if there are limitations on health claims connected to recreational/adult-use products. Ultimately the product has to deliver on the expected outcome.”

BevCanna’s stock recently traded up 4.1% to C$0.38 a share in Canada.

Contact the author:

Follow him on Twitter @PatrickMGraham

Fri, 19 Jul 2019 10:25:00 -0400
1933 Industries gets approval to transfer its cultivation licenses, kick off planting at its new Las Vegas facility 1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF) revealed Friday that both the Clark County and Nevada Department of Taxation have greenlighted the transfer of its existing cultivation licenses to a new Las Vegas cultivation facility.

This in essence completes all the necessary steps for the company to kick off the transfer and planting of cannabis plants at the new facility in Nevada.

1933 Industries recently completed the final phase of construction and received a permanent occupancy permit for Las Vegas, allowing its subsidiary Alternative Medicine Association to move into the facility and begin cultivation.

READ: 1933 Industries gets permanent occupancy permit for Las Vegas cultivation facility

The building consists of 15 bloom rooms, three veg rooms for baby plants and one clone room. The initial operating capacity is roughly 22,000 square feet, with the option to expand into an additional 18,000.

“We have worked closely with county and state authorities to ensure the smooth transfer of our cultivation licenses from the old facility to the new one,” said Caleb Zobrist, who is the executive vice president and legal counsel at 1933 Industries. “Having the licenses in place enables us to commence cultivation operations in the new facility immediately.”

Site work completed

With all site work completed, the company will begin the transfer of the 26 plant varieties, including 5,000 cloned plants and 200 so-called mom plants, to the facility.

The aim is to fill up two full zones or six rooms within a week in its first phase, said the company. 

The clones will vegetate for about four weeks before beginning the flower cycle.

“We will start acclimatizing the plants in the new rooms and ensure that all life-support systems, such as temperature, irrigation, light and humidity controls are functioning as designed,” said Tim Spencer, director of cultivation at 1933 Industries.  

With a grow cycle of 15 weeks, 1933 expects between 700 and 800 pounds of flower per month at capacity.

Best-selling live resins 

Alternative Medicine Association’s live resins and vape pens are the company’s best-selling items due to their versatility and contain cannabis-derived terpenes in a variety of flavors.

The company explained that the new facility will provide better control over the input material for its live resin products and use a flash freezing fresh flower process to preserve monoterpenes that are not found in cured biomass.

This process essentially allows the company to extract a better representation of the full terpene profile of the flower for increased potency and better taste.

“Our 26 in-house plant varieties were carefully selected for their quality and terpene profiles,” said Spencer. “Our goal is to cultivate premium flower to produce the best concentrates in the Nevada market at reasonable prices.”

Spencer added that the company was “excited” to begin working with its world class breeder partner, OG DNA Genetics, as soon as they were settled in their new facility.

1993 Industries, based in Vancouver, owns licensed medical and adult-use cannabis cultivation and production assets, proprietary hemp-based, CBD infused branded products, CBD extraction services and a specialized cannabis advisory firm.

Vertically integrated 1933 Industries owns 91% of Alternative Medicine Association which is based in Nevada and fully owns both Infused MFG and Spire Global Strategy, located in Vancouver.

Contact Uttara Choudhury at

Follow her on Twitter@UttaraProactive 

Fri, 19 Jul 2019 10:20:00 -0400
Flowr says it is not proceeding with equity offering; shares soar The Flowr Corporation (CVE:FLWR) (OTCMKTS:FLWPF) shares soared on Friday after announcing that it had decided not to proceed with its equity offering.

The cannabis company released plans to raise C$125 million for its acquisition of Holigen Holdings Ltd, a European-based cannabis company developing large-scale GMP-compliant grow facilities in Portugal and Australia, of which Flowr owns 19.8%.

Shares of Flowr rocketed 22.8% higher in early trading at C$4.91 in Toronto and were trading at US$3.01 on OTC markets.

READ: Flowr wins second site cultivation license for Flowr Forest project

In a release, the company said that the decision not to proceed with the offering was based on current market conditions that were not conducive to raising money in the best interest of shareholders. 

Flowr said that it would continue to monitor the market as it evaluates options to propel the company toward its vision of becoming a global licensed producer of premium cannabis.

Toronto-based Flowr builds and operates large-scale, GMP-designed facilities that utilize proprietary growing methods to produce high-quality cannabis for recreational and medicinal usage.

The licensed producer also said that it was evaluating the timing of its Nasdaq listing in light of prevailing market conditions.

Earlier this week, the company announced it had received a second site cultivation license from Health Canada for its Flowr Forest project, an expanded indoor and outdoor cultivation area with a total licensed grow space of over 530,000 square feet in Kelowna, British Columbia.

Contact Angela at

Follow her on Twitter @AHarmantas


Fri, 19 Jul 2019 10:20:00 -0400
Constantine Metals Resources files prelimiary economic assessment on Palmer project Constantine Metal Resources (CVE:CEM) (OTCMKTS:CNSNF) has filed an NI 43-101-compliant preliminary economic assessment (PEA) on its Palmer project in Alaska, the company announced Thursday.

Palmer is a high-grade volcanogenic massive sulphide-sulphate (VMS) project in southeast Alaska.

The study, completed by the Constantine Mining joint venture - of which the firm owns 51% - assumed metal prices of US$1.22 per pound of zinc, US$2.82 per pound copper, US$16.3 per ounce silver, US$1,296 per ounce gold and US$220 per metric tonne of barite.

READ: Constantine Metal Resources gets going again on the ground at Palmer project

Dowa Metals & Mining Co owns 49% of the venture.

The estimated mine life is 11 years after two years of pre-production and the operating cost at US$54.2 per ton generates US$354 million in pre-tax net present value. The pre-tax internal rate of return was put at 24%.

"The PEA highlights released in early June represented a significant leap forward for Constantine and the Palmer project," said Constantine CEO Garfield MacVeigh.

"This report is the first that applies economic parameters to the project and indicates that Palmer can be a low capex, low operating cost, high margin underground mining operation with attractive environmental attributes."

Constantine is a mineral exploration company with a focus on North American exploration projects.

Contact Angela at

Follow her on Twitter @AHarmantas

Fri, 19 Jul 2019 09:21:00 -0400
NexTech AR Solutions wraps up C$1.6M private placement NexTech AR Solutions Corp (OTC:NEXCF) (CSE:NTAR), the augmented reality technology company, announced Friday that its near C$1.6 million, management-led private placement has officially closed, with by far the biggest single investor being CEO Evan Gappelberg, who ponied up $867,000.

The capital raise consists of $264,339 worth of stock units, $985,500 in convertible debentures and a previously announced first tranche of $339,600 of units.

The New York and Toronto-based company plans to use the funds to expand its sales team, pursue mergers and acquisitions and for general capital purposes.

READ: NexTech is bringing augmented reality to online furniture shopping

Each unit consists of one share of stock and one half of a transferable share warrant. A warrant is worth one new share at a price of $0.70.

Shares in the company closed at $0.58 on the CSE on Thursday.

NexTech’s signature product is ARitize, a three-pronged AR platform that offers web-enabled e-commerce that lets customers shop in 3D, a workplace education program that gives business new training options and a studios product that allows people to create holographic versions of themselves.

The e-commerce and education offering launched earlier this year, and the firm's studio is expected to get off the ground in the fourth quarter.

Contact Andrew Kessel at

Follow him on Twitter @andrew_kessel

Fri, 19 Jul 2019 09:00:00 -0400
Zelda Therapeutics teams up with medicinal cannabis clinic network Zelda Therapeutics Ltd (ASX:ZLD) has entered into a strategic collaboration agreement with Emerald Clinics to access clinical data from patients treated with medicinal cannabis for pain and insomnia.

Emerald Clinics owns and operates an Australian network of dedicated medicinal cannabis clinics.

Zelda will us this access to real world patient data for its ongoing clinical trial work focused on developing new cannabis-based treatments to reduce opioid usage in patients with chronic pain as well as patients with insomnia and autism.

READ: Zelda Therapeutics responds to ASX query on price and volume increases

Zelda’s managing director Dr Richard Hopkins said: “Australia’s commitment to developing a highly regulated market for prescription cannabis medicines means this country is now a global leader in collection of high-quality longitudinal clinical data relating to patients treated with medicinal cannabis.

“We believe Emerald’s approach to collection and curation of patient data makes this information a very valuable commodity world-wide.”

Option to access future data of patients using Zelda-branded producted

The agreement also includes an option for Zelda to access real-world data collected from patients prescribed Zelda-branded cannabis products, which the company is aiming to bring to market in 2020.

Hopkins added: “Being able to access real-world data, in real-time, from patients treated with regulated cannabis medicines – including, in the near future, our own clinically validated products – will provide Zelda with a significant competitive advantage.

“This information will inform the design of future clinical trials, reduce the risks and costs of development and accelerate the path to market.

“These key value-adding features will further differentiate Zelda from its global peers and enhance the commercialisation opportunities for the company.”

Fri, 19 Jul 2019 08:50:00 -0400
Namaste Technologies adds two more licensed producers to CannMart cannabis marketplace Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) announced Friday it has signed new agreements with two Canadian licensed producers to expand the number of products offered on its online cannabis marketplace CannMart.

The two licensed producers are Agro-Greens Natural Products Ltd of Macklin, Saskatchewan and PureSinse Inc of Brampton, Ontario, which is a subsidiary of Pure Global Cannabis Inc.

Namaste said the Agro-Greens and PureSinse agreements will help solidify CannMart’s new fee-based model, which is based on consignment versus traditional buy and sell.

READ: Namaste Technologies reports 2Q financial results; sees improvements in books

The Toronto-based company also said the new fee-based model will allow CannMart to manage working capital and the licensed producers to retain their brand loyalty.

The new agreements highlight Namaste’s value proposition to licensed producers, enabling them to be vertically integrated within the CannMart platform and providing the infrastructure to deliver products to a new and larger audience.

CannMart started sales in October 2018 when cannabis was legalized in Canada with only two licensed producers offering just three strains and 11 SKU's (stock-keeping units).

Growing CannMart

Today CannMart has supply agreements with 15 licensed producers, providing over 39 strains, and 170 SKU's. Outside of Canada, the company has existing supply relationships in Columbia, Australia and Israel, with imports pending government approval.

"The commitment and investment that we have made in our people and technology is beginning to pay dividends," said Meni Morim, interim CEO of Namaste. "Licensed producers are increasingly recognizing this commitment, and see the value in our platform. As our end-to-end business proposition continues to develop, we are on track and focused to become the world's most customer focused marketplace for cannabis and cannabis accessories.”

Pure Global CEO Malay Panchal said the medical cannabis producer is “incredibly excited about this recent agreement with Namaste, as their CannMart platform truly shares our goals and values.”

Contact the author:

Follow him on Twitter @PatrickMGraham

Fri, 19 Jul 2019 08:45:00 -0400
Pure Gold Mining shines with closing of C$47.5 million in financing led by billionaire investor Eric Sprott Pure Gold Mining Inc (TSX.V:PGM) (LSE:PUR) (OTCMKTS:LRTNF) has set itself up with a dream-team of key investors, the most recent of which is the founder of Sprott Capital Partners, billionaire investor Eric Sprott, who now has a 10.2% stake in Pure Gold, making him the second-largest shareholder behind Anglogold Ashanti (NYSE:AU) (ASE:AGG).

Anglogold Ashanti is a founding investor in the firm, it is also the third-largest gold mining company in the world, based on production.

Sprott joins a list of key investors in the project, which includes Bay Street financier and founding Pure Gold investor Rob McEwen and Newmont Goldcorp (NYSE:NEM), amongst others, alongside Anglogold Ashanti.

The firm just announced the closing of concurrent bought-deal and non-brokered private placements totalling C$47.5 million. The capital will allow Pure Gold to continue development work and aggressive exploration focused on resource expansion at its Madsen Red Lake gold project, as well as being used for general corporate purposes. Eric Sprott is leading the way, taking around C$20 million of the bought-deal private placement. Most importantly, these significant equity transactions leave Pure Gold fully funded. 

READ: Pure Gold Mining ready to begin aggressive drill program at Madsen project

Each unit in the placings consists of one share, and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one company share for three years from the closing for C$0.85.

Pure Gold is advancing the Madsen Red Lake Gold Mine in the historic Red Lake district. More than 29 million ounces of high-grade gold has been mined from the Red Lake mining district of northwestern Ontario, making it one of the largest gold-producing districts in Canada.

The mining company is aiming to put the project into production within the next year – an achievable goal given the scale of the project, amount of infrastructure already in place and the very low capital requirement of the project at just C$95m.

Brownfields are the recent success stories

The Madsen Red Lake Gold Mine is an advanced brownfield site with existing infrastructure in a proven jurisdiction. 

And it is brownfields that have been the recent success stories in the latest sector wave, with examples that include Kirkland Lake Gold (TSE:KL), Integra Gold Corp (TSE:ICG), Wesdome Gold Mines Ltd (TSE:WDO), Claude Resources, which was acquired by SSR Mining (TSE:SSO). 

Sprott recently made around C$1 billion on Kirkland Lake Gold in Ontario and is re-deploying C$200 million of that into other companies that appear to have potential. Pure Gold has made the list and the hope is Sprott can duplicate the success seen with Kirkland Lake Gold

Economics of the project appear strong

With the rising price of gold (US$1,421.05 per ounce on Thursday), the economics of Pure Gold's Madsen Red Lake Gold Mine appear to be growing even stronger. 

At a base case of US$1,275 per ounce gold, the firm's Feasibility Study in February projected an after-tax NPV (net present value) of $247 million (using a 5% discount rate) and an internal rate of return (IRR) of 36%.

If one uses a base case of US$1,400 per oz gold, the after-tax NPV is $326 million and an internal rate of return of 45%.

In short: these are compelling numbers, and even more compelling with a rising gold price. 

Good timing

The timing of Pure Gold's Madsen Red Lake Gold Mine is also promising, timed to deliver into a rising gold market, with the goal of reaping the rewards for shareholders. 

For investors, Canadian gold is trading around C$1,900 per ounce, making it one of the more attractive and profitable gold producing countries in the world. It appears, Pure Gold's equity raise is the last one needed for the mine, according to the firm, representing a window of opportunity. 

Shares in Pure Gold closed trading at C$0.62 on Thursday, up 10.7% on the day. 

Contact Katie Lewis at

Fri, 19 Jul 2019 07:30:00 -0400
MGX Minerals subsidiary MGX Renewables approved to list on the Canadian Securities Exchange MGX Minerals Inc.(CSE:XMG) (OTCMKTS:MGXMF) informed investors Friday that its subsidiary MGX Renewables Inc has been approved to list on the Canadian Securities Exchange (CSE) as an independent entity.

MGX Renewables has been conditionally approved to list its shares and has satisfied the requirements for listing on the CSE, which is expected to occur on July 23.

Shares in MGX Renewables will trade under the stock symbol “MGXR.”

READ: MGX Renewables jumps closer to CSE listing as parent company MGX Minerals closes C$2 million financing

MGX Renewables previously announced the completion of its spin-out from MGX Minerals Inc. The Vancouver-based company said that it had closed a financing of just over C$2 million through the sale of 8 million subscription receipts at $0.25 per receipt. Subscription receipts will be converted into common shares once the transaction closes.

The spinout is non-dilutive to MGX Minerals shareholders, the company said in a statement.

MGX Renewables is advancing zinc-air flow batteries with 20 patents granted so far designed for high capacity and long duration. They can be used in a wide range of energy storage applications in the fields of renewable energy, industrial backup power and grid-scale energy.

MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy and water assets.

Contact Uttara Choudhury at

Follow her on Twitter@UttaraProactive 

Fri, 19 Jul 2019 07:28:00 -0400
Metalla Royalty and Streaming set up for success after growing portfolio to 43 assets Metalla Royalty and Streaming (CVE:MTA-OTCQB: MTAFF) President and CEO Brett Heath joined Steve Darling from Proactive Investors Vancouver to provide an update on what has been a very busy past few months.

Heath Telling proactive about the assets they have in their portfolio, the price and gold and where he feels it's headed and what shareholders should be looking forward to in the months ahead.

Fri, 19 Jul 2019 06:30:00 -0400
BevCanna shares interesting results from focused study while announcing, "Anarchist" BevCanna (CSE: BEV) Chief Commercialization Officer Emma Andrews sat down with Steve Darling from Proactive Investors Vancouver to discuss BevCanna's first branded beverage. It's called  Anarchist and is truly made in British Columbia.

Andrews also talked about a very interesting study the company commissioned to focus on product and consumption preferences within the emerging cannabis-infused beverage market.

Fri, 19 Jul 2019 06:26:00 -0400
Namaste Technologies reports 2Q financial results; sees improvements in books Namaste Technologies (CVE:N) (OTCMKTS:NXTTF) released financial statements Thursday for its second quarter, showing a steady improvement in its books. 

In the second quarter, revenue remained consistent at C$4 million compared with C$4.1 million for the same period last year.

In 2Q, Namaste reported that it had improved the company's foundations, with an aim to build the world's most customer focused cannabis marketplace.

"From here, we are reprioritizing and refining our investments towards scalability, gaining marketshare and working capital management. We expect to see these results take shape over the next three to six months with a balanced approach between working capital optimization and the right investments to help the company grow," said Meni Morim, interim CEO of Namaste.

"This is an exciting time in the cannabis market overall and we want to make sure that we're maximizing our opportunities."

READ: Namaste Technologies looks to a brighter future as it aims to be the world’s leading cannabis marketplace

The firm reported a net loss of C$8.6 million, up from a net loss of C$8.0 million in the prior year period. The firm reported net income of C$6,141. 

The company said: "During the quarter, we made technological improvements in our online platform, acquisitions in Pineapple Express and Choklat, and expanded our list of licensed producers on CannMart.  As recently announced, we have increased our access to medical cannabis patients through our relationship with ARBR.

"As part of our strategy to improve the access to and interactivity with license producers, we expect to announce additional producers under our new fee-based or consignment model. 

"This new model allows licensed producers to see Namaste's online marketplace as complementary to their business versus competition. We believe this shift with help drive future expansion of our product categories and related SKU's and highlight our commitment to enhancing the customer experience from education to consumption. From a financial standpoint, this system helps reduce the burden on working capital too."

Contact Katie Lewis at

Thu, 18 Jul 2019 17:15:00 -0400
Wrap Technologies receives its first 'significant' international order for its BolaWrap device Wrap Technologies Inc's (NASDAQ:WRTC) President Tom Smith - who was co-founder of the firm which produced the first stun-guns known as Tasers - tells Proactive Investors that he has set his sights on a new remote restraint device called the BolaWrap 100.

Smith says the device, which discharges an eight-foot tether to entangle a subject from 10-25 feet away, has received its first 'significant' international order worth more than $1 million from an unnamed customer.

Thu, 18 Jul 2019 17:11:00 -0400
Noble Capital Markets sets outperform rating and $1.50 price target on Great Panther Mining shares Analysts at Noble Capital Markets have set an outperform rating and $1.50 price target on Great Panther Mining Corp. (TSX:GPR) (NYSE:MKT) shares in a note published in the wake of the firm’s second quarter production results.

In aggregate, Great Panther’s second quarter production increased by 195% to 39,922 gold equivalent ounces versus the prior year period and was up 197% compared to the first quarter of 2019. 

Noble’s analysts pointed out that the significant increase in gold production reflected the firm’s acquisition of the Tucano Gold Mine in March 2019.

Based on the higher production and commodity price expectations, they said they have increased their full year 2019 earnings per share (EPS) and underlying earnings (EBITDA) estimates for Great Panther to $0.01 and $39.3 million from $0.00 and $37.6 million, respectively. 

Their full year 2020 EPS and EBITDA estimates have been increased to $0.14 and $90.8 million from $0.06 and $66.1 million, respectively, the analysts added.

Based on the results of a bulk sample program, the Noble analysts noted that Great Panther also expects to advance the Coricancha mine project to production. 

They said that, assuming development work commences at the beginning of 2020 and following six months of development, that mine is expected to restart mid-year 2020.

The analysts concluded: “In our view, the company is making significant progress toward integrating the recently acquired Tucano mine into its portfolio. 

“Because Tucano's production profile is weighted toward the second half of the year, the equity could gain more investor interest as earnings growth becomes more visible.”

Great Panther shares were trading on Thursday at $0.95 each.

Thu, 18 Jul 2019 16:53:00 -0400
Cb2 Insights signs letter of Intent with UK company, Drug Science for research program TWENTY21 CB2 Insights (CSE: CBII-OTCQB: CBIIT) CEO Prad Sekar joined Steve Darling on Skype from London with news the company has been selected as an exclusive research technology platform for the UK’s largest medical cannabis Pilot – Project TWENTY21

Sekar told Proactive about that project and how CB2 will be involved.


Thu, 18 Jul 2019 15:51:00 -0400
GSRX Industries is smoking hot as its dispensaries and CBD products generate strong revenue GSRX Industries Inc is a diversified Dorado, Puerto Rico-based medical cannabis company   

• It is expanding into distribution, extraction and light manufacturing of cannabis and CBD products

• It’s on a revenue roll with $3.5 million in revenue being posted in the second quarter  

What the company does:

GSRX Industries Inc (OTCQB:GSRX) is a rapidly growing Dorado, Puerto Rico-based medical cannabis company which has fingers in many pies.

The company is run by retail king Leslie A Ball, also known as Les, who has a track record as the former CEO of Corral West Ranchwear and BTWW Retail.

Through its subsidiaries, GSRX acquires, develops and operates medical cannabis dispensaries and cannabinoid (CBD) retail stores.

Currently, GSRX operates five cannabis dispensaries in Puerto Rico under the Green Spirit RX brand name. It has also signed a lease in Palm Springs for its second adult-use and medicinal cannabis dispensary in California.

GSRX is now also expanding into distribution, extraction and light manufacturing of cannabis and CBD products. 

The company’s majority-owned San Francisco extraction company Spirulinex LLC is behind Dragonglass, a wildly popular all-natural dried THC powder combined with organic Spirulina.

GSRX also owns and operates the ecommerce site which offers premium hemp extract products.

How it is doing:

GSRX Industries is on a roll with $3.5 million in revenue being posted in the second quarter ended June 2019. That’s 19% higher than the $2.866 million it made in the first quarter.

Not surprisingly, it’s been a busy spell for the company. By signing a lease in April for a second adult-use and medicinal cannabis dispensary in California, GSRX continues on its path, with a focus on the Golden State. 

“We are very excited to be launching our second Green Room dispensary in Palm Springs,” said CEO Les Ball. “It will offer cannabis products, including edibles and accessories.”

The newest cannabis dispensary will be located in a building that was home to Riccio’s, an Italian restaurant and favorite Palm Springs hangout for Frank Sinatra and his swaggering Rat Pack pals Dean Martin, Sammy Davis Jr, Peter Lawford and Joey Bishop.

GSRX also has a minority interest in a company called Zen Stop which recently debuted in Los Angeles.

Zen Stop is a mobile, so-called, “meditation station” that guides customers through 10-minute meditation sessions and offers a wide selection of pharmaceutical CBD products.

The CBD oils, capsules, gels and other products are supplied by the Pure and Natural brand, which is a wholly owned subsidiary of GSRX.

Inflection points:

The company will gain traction from five additional pre-qualified locations in Puerto Rico, all of which are in various phases of construction. This will take the company’s tally for dispensaries quickly to 11.

In July, the company’s wholly owned subsidiary Point Arena Distribution LLC scored a provisional distribution license from the California Bureau of Cannabis Control for adult-use and medicinal cannabis products.

The license allows the company to kick off operations at its new adult-use and medicinal cannabis products distribution hub in Point Arena, California.

The company said that with the license Point Arena Distribution will focus on the distribution of cannabis concentrates related to vape cartridge filling.

The company hopes to capitalize on vaping’s growing share of the cannabis industry. From 2015 to 2017, vaping jumped from $200 million in sales, representing 4.2% of the cannabis market, to $1.1 billion in sales, representing nearly 13% of the market, according to data from the market research firm Arcview.

The license will also allow GSRX’s cannabis subsidiary Point Arena Manufacturing to focus on making Dragonglass. The company expects to begin full-scale operations by the end of the third quarter.

The plant in Point Loma, a small coastal city in California, is expected to be completed and properly inspected in September.

What the boss says:

“We continue to meet our operations goals, exceed revenue expectations and judiciously expand our operations,” said GSRX Industries Les Ball. “We are looking forward to continued growth.”

Contact Uttara Choudhury at

Follow her on Twitter@UttaraProactive 

Thu, 18 Jul 2019 15:43:00 -0400
Ascent Industries bolsters Oregon operation with new appointee Ascent Industries Corp (CSE:ASNT) (OTCMKTS:PGTMF) said on Thursday that it has appointed a new member of its management team to help lead operations at its Portland, Oregon facility.

The firm announced that Annabeth Rose has joined the team as operations director-Oregon.

Rose brings more than a decade-and-a-half of laboratory experience with expertise in building and leading teams and establishing sophisticated quality assurance systems. She also has more than five years' experience in the cannabis industry and was vice-president of the Oregon Cannabis Laboratory Association.

"I am excited to welcome Annabeth as Ascent continues to build the new management team that will deliver on our vision of a world that lives better through cannabis," said Paul Dillman, chief executive officer of Ascent.

READ: Ascent Industries taps Garett Senez to spearhead marketing initiatives

Ascent said it looks forward to Rose's leadership and scientific guidance. It noted that she is a published scientist with emphasis in cellular and molecular biology at University of Nevada, Reno. She has also studied at the University of Reading, England.

The firm noted Rose's experiences have led start-ups in accreditation, licensing, business planning and number of high-level certifications.

Contact Katie Lewis at

Thu, 18 Jul 2019 14:55:00 -0400
Parallax Health Sciences inks licensing pact with HealthPointe Solutions Parallax Health Sciences Inc (OTCMKTS:PRLX) said Monday that the telehealth company has inked a license agreement with HealthPointe Solutions, a provider of health solutions powered by artificial intelligence.

Parallax is a data-driven, Santa Monica, California-based company focused on developing technology to make remote healthcare a more reliable, cost-effective option for patients.

It is relying on HealthPointe’s cognitive artificial intelligence solutions to power a wide variety of healthcare analytics.

READ: Parallax Health Sciences opts for third-party artificial intelligence for its remote healthcare platform

To grasp what HealthPointe does one must understand there are different types of artificial intelligence. The form most commonly known is machine learning and utilizes machine algorithms to detect patterns in large data sets. Think IBM Watson – it’s good and useful in many situations, but problematic in healthcare because there can be so many variables.

The second major type of AI is Deep Neural Networks – the kind that Google Deep Mind uses. Used by government agencies for facial recognition, it can look at patterns and images in order to recognize detectable patterns like in breast cancer. However, that it is limited to the training set it receives – it can’t automatically detect brain cancer without extensive retraining.

Neither types function, however, like the artificial intelligence technology that HealthPointe utilizes because, unlike machine learning and Deep Neural Networks, the company’s AI has the unique ability to perceive and reason.

HealthPointe says it uses a system that already has a “common sense understanding combined with higher-ordered health industry knowledge” to determine best possible solutions. Most important, though, is its ability to provide the user with a complete trail of exactly how it got to that answer.

Provides a broad menu of tools  

“We chose HealthPointe Solutions because of their senior management’s deep background in healthcare and healthcare technologies,” said Parallax Health Sciences' Chief Technology Officer Nathaniel Bradley.

“HealthPointe Solutions provides us with a broad menu of tools to deliver the solutions that are core to our product offerings. HealthPointe Solutions focus is on cognitive intelligence which is right in line with our vision of the future of artificial intelligence.”

Bradley noted that HealthPointe’s cognitive AI platform combines the complex nature of healthcare data extraction, management and analysis, coupled with Parallax Health’s need for seamless interoperability of applications and technologies.

“Our collaboration with Parallax Health Sciences will bring a new age of behavior modification toolkits for population and digital health allowing better collaboration between physicians and their patients while driving treatment compliance, digital monitoring, and better outcomes,” said Mark Anderson, chief operating officer at HealthPointe Solutions.

“We are truly excited about our opportunity to help transform the healthcare landscape together.”

HealthPointe’s AI solutions will be woven into the Parallax Care Platform, a remote patient diagnosis, treatment and monitoring system.

“HealthPointe Solutions is powered by Cyc, and other advanced artificial intelligence engines and knowledge bases making HealthPointe Solutions the ideal partner to integrate with the Parallax Care Platform,” said Parallax Health Sciences CEO Paul Arena.

Arena noted that HealthPointe Solutions shared their mission to “reduce costs, increase access, and improve outcomes” for patients and allow healthcare providers deliver better outcomes.”

Contact Uttara Choudhury at

Follow her on Twitter@UttaraProactive 

Thu, 18 Jul 2019 13:00:00 -0400
Freyherr International to list on NEX as it looks to grow its medicinal cannabis business Freyherr International Group PLC's Tomaž Frelih speaks to Proactive London's Andrew Scott ahead of their listing on London’s NEX Exchange - a move to help expand its European operations.

Freyherr International is the UK parent company of a group of medicinal cannabis firms that operate in Slovenia including cultivation business Freyherr d.o.o, pharmaceuticals arm Freyherr d.o.o. and dispensary unit Patron do.o.

The initial public offering will support the company’s plan to invest €5.5mln on bolstering its operations.

Thu, 18 Jul 2019 12:24:00 -0400
Capstone’s microturbines powered through recent New York City blackout Capstone Turbine Corporation (NASDAQ:CPST) said Thursday that its microturbines, which are used to power hundreds of buildings in New York City, powered through the recent blackout that plunged a broad swath of Manhattan into darkness.

The July 13 power failure, which was caused by a transformer fire and lasted for about five hours, affected more than 72,000 Consolidated Edison customers. The blackout darkened the huge electric billboards of Times Square and forced Broadway shows to cancel performances, and even disabled some subway lines.

“All indications that we have received from our customers and our local New York distribution partner is that all installed stand-alone Capstone microturbine systems continued to operate as designed during the recent blackout,” said CEO Darren Jamison.

READ: Here’s why New York City’s climate emergency resolution is a step in the right direction

The company said its Reliable Secure Power Systems (RSP), Capstone’s exclusive distributor for the New York metro and Connecticut regions, reported that the microturbines in operation at the time operated as expected.

Capstone said its technology can be configured to run grid-parallel 24/7 and also to run stand-alone seamlessly and automatically, even during power outages — as long as the microturbines continue to have accessibility to intake combustion air and a natural-gas supply.

“Capstone microturbines provided backup power for essential services and hot water to several hotels in the blacked-out area,’’ noted Cory Glick, president of RSP Systems. “Although electricity was out for more than five hours, pipeline natural gas continued to flow, and our turbines provided essential electricity and hot water and could have indefinitely, as long as the natural gas was flowing.”

The blackout opportunity

Jim Crouse, executive vice president of sales and marketing at Capstone, said the blackout — and the fear of future power failures — should help the company expand its footprint in the New York area.

“I fully anticipate that this major blackout will only add to customers’ interest in onsite distributed generation as a way to not only save on their annual energy bills but also to protect them against prolonged utility outages,” he said.

Capstone, based in Van Nuys, California, offers a product lineup of microturbines that can produce anywhere from 30 kilowatts to 10 megawatts of power, operating on a variety of gaseous or liquid fuels. To date, Capstone has shipped over 9,000 units to 73 countries.

The company’s stock recently traded up 1.6% to $0.74 cents a share.

Contact the author:

Follow him on Twitter @PatrickMGraham

Thu, 18 Jul 2019 11:38:00 -0400
VolitionRX brings its Nu.Q cancer-screening platform to China VolitionRx Limited (NYSEMKT:VNRX) is bringing its cancer-screening blood tests to China for a new lung cancer study.

The company is partnering with Shanghai Fosun Long March Medical Science Co Ltd, a manufacturer of diagnostic and laboratory instruments. The study will use Volition’s Nu.Q assays to screen for lung cancer at Fosun's hospitals, research institutions and clinics, among other locations.

The two parties previously signed a memorandum of understanding, and the study represents the execution of that contract.

READ: VolitionRx Limited awarded an additional $1.4 million in non-dilutive funding

Nu.Q functions as a routine blood test that looks for molecular signatures of cancer by focusing on the nucleosomes — a section of DNA wrapped around a core of proteins — in the blood. As cancer cells multiply, they are modified in a way that distinguishes them from healthy cells and the traits of the malignant disease appear on the nucleosomes..

"The need for a simple, easy to use, cost effective test for cancer is truly universal and we hope very much that our Nu.Q tests can help revolutionize the way cancer is diagnosed worldwide," Volition CEO Cameron Reynolds said.

"We see Asia, and particularly lung cancer in China, as a key market for Volition. We are excited about the commencement of our work in China and look forward to a successful collaboration with Fosun Long March," he added.

According to Fosun chairman Yuejian Zhang, China accounts for 20% of the world's population but 24% of the world's lung cancer diagnoses and 30% of cancer-related deaths. 

Shares in Volition rose 4.2% to $3.50 Thursday morning.

Contact Andrew Kessel at

Follow him on Twitter @andrew_kessel

Thu, 18 Jul 2019 11:15:00 -0400
Buds & Duds: Cannabis stocks flatten out Thursday; Aurora shares sink on downgrade Cannabis stocks were flat as a pancake on Thursday across North American markets.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was down 0.3% to 221.7 points on Thursday. The Horizons Marijuana Life Sciences Index ETF was down 1.7% to C$16.95. The OTCQX Cannabis Index was up 0.7% at 723.7 points.


Shares of Aurora Cannabis Inc (TSE:ACB) (OTCMKTS:ACBFF) shares were on the decline Thursday, after BofA Merrill Lynch downgraded the stock to neutral from buy and lowered its price target to $8 from $10, on concerns about the company's cash-burn rate.

Shares were down 5.9% at US$6.97 in New York, off 5.8% at C$9.12 in Toronto.

"Aurora has emerged as one of the best operators in the cannabis sector, with industry leading scale and margins even vs other large peers, and global optionality," wrote analyst Christopher Carey in a note. "However, despite this, and a focus on profit, (CQ2 positive EBITDA target), it is burning cash and by our estimates could be cash negative by CQ120 (absent financing), namely if a large convertible debenture due in CQ120 stays out of the money."

Other laggards Thursday included Terra Tech Corp (OTCMKTS:TRTC), down 7.1% at US$0.39.

The firm recently announced had started the process to open a CBD-only retail location called Blüm CBD in downtown Las Vegas.

CannTrust Holdings Inc (TSE:TRST) (OTCMKTS:CNTTF) shares were lagging Thursday, after a tumultous few weeks that saw double-digit losses after the company was dinged by Health Canada for growing cannabis in grow rooms that didn't have a licence to operate at its Pelham, Ontario facility.

Shares were down 4% at C$3.59 in Toronto, down 4% at US$2.74 in New York. 

Last week, the firm put a voluntary hold on the sale and shipment of all cannabis products as a precaution while Health Canada visits and reviews its Vaughan, Ontario manufacturing facility.

In a rare move, Mackie Research terminated coverage of CannTrust. In a report titled "Can't Trust Management," the fim said it had already lowered CannTrust to a Market Perform rating on April 2, 2019.

"However, given the uncertainty surrounding the company’s Health Canada Audit we have lost faith in management and as a result we are terminating research coverage," wrote analyst Greg McLeish.


CB2 Insights Inc (CSE:CBII) (OTCMKTS:CBIIF) shares were on the rise Thursday after announcing it is expanding its data analytics platform into the UK thanks to a new partnership with the country’s largest medical cannabis pilot project.

The Toronto-based company announced Thursday that it has been selected as the exclusive research technology platform for Project TWENTY21, a new pilot project to assess the efficacy, safety, quality of life and health outcomes for 20,000 patients using cannabinoid therapies.

The data analytics company will provide the platform to build the patient registry and collect statistical evidence throughout the program, CB2 said in a release.

READ: CB2 Insights expands data analytics platform to the UK through new medical cannabis pilot program

Curaleaf Holdings (CSE:CURA) (OTCMKTS:CURLF) shares were on the rise again on Thursday as it announced it has inked a mammoth US$875 million deal to acquire private producer GR Companies Inc (Grassroots) earlier in the week. 

The deal expands Curaleaf’s footprint to 19 states from 12, including Illinois, which recently became the 11th state to legalize recreational marijuana.

Shares were up 7.7% at C$10.72 in Canadian trading, up 6.7% at US$8.16 in New York.

The significance of the deal is important: the combined entity will have 131 dispensary licences, 68 operational locations and 20 cultivation sites.

Contact Katie Lewis at

Thu, 18 Jul 2019 10:47:00 -0400
GrapheneCA inks pact with Apis Cor to disrupt the construction industry with 3D printers GrapheneCA announced Thursday that it has inked a pact with Apis Cor to develop a 3D printing system capable of printing graphene materials.

The privately held New York-based company, which develops graphene-based technology for industries, is partnering up with Apis Cor, a developer of specialized concrete 3D printing equipment.

They are working on a collaboration where GrapheneCA will design an extruder and mixing system that can be embedded into Apis Cor’s 3D printer.

READ: GrapheneCA creates mobile graphene container system for in-house graphene manufacturing

Together, the two companies are expecting to develop a 3D printing system capable of printing graphene material, said the company in a statement.

The ability to 3D print graphene material could lead to a breakthrough in the construction industry as printers are expected to locally produce materials such as cement, helping to cut associated labor costs and significantly reduce construction time.

Disruptive graphene technology

“Our planned collaboration with Apis Cor demonstrates our dedication to integrate graphene into the real world using cutting edge technologies,” said David Robles, head of business development at GrapheneCA.

“Imagine being able to print a residential 2,500 square feet home in a day, for less than $8,000, or envision a mobile 3D printer that can solve current construction bottlenecks.”

Robles noted these are just a few of the “ample possibilities” under discussion with Apis Cor.

“This could lay the groundwork for making 3D printed graphene a standard material in the construction process,” said Robles.

Mobile 3D printers

According to GrapheneCA, mobile 3D printers capable of locally manufacturing graphene are expected to “greatly simplify” the process of building in remote natural disaster areas, or on islands.

The company pointed out that 3D printers could allow developers to construct buildings able to withhold hurricanes and earthquakes “in a matter of days.” These advances are expected to bring “affordable housing” a step closer to becoming a reality, said the company.

“New materials and its advanced properties will open new horizons,” said Apis Cor founder CEO Nikita Cheniuntai. “Collaborating with GrapheneCA brings us closer to disrupting the 3D printing materials for construction.”

GrapheneCA first began producing pristine graphene flakes in July 2017 from its production facility in Brooklyn, New York.

Its technology has been patented and GrapheneCA is preparing for mass production to advance a number of industrial and commercial applications for its graphene supply.

GrapheneCA has developed a novel Mobile Graphene Container System (MGCS), the world’s first scalable, modular graphene production system, to help companies manufacture graphene in-house in 40-foot containers.      

Graphene has a wide range of industrial uses including being used in steelmaking, brake-pads and dry lubricants. It's also used in fuel cells, which power hybrid and electric vehicles and in lithium-ion batteries used in portable consumer devices, like laptops and smartphones.

Contact Uttara Choudhury at

Follow her on Twitter@UttaraProactive 


Thu, 18 Jul 2019 10:10:00 -0400
Bragg Gaming-controlled ORYX Gaming inks deal to add Stakelogic casino games Bragg Gaming Group’s (CVE:BRAG) (OTCMKTS:BRGGF) subsidiary ORYX Gaming is adding a new roster of games to its arsenal.

The content aggregator signed a deal with Stakelogic, an Amsterdam-based casino game designer known for its modern takes on slot machines, to integrate its portfolio into the ORYX Hub.

The agreement includes popular games such as Book of Adventure, Book of Cleopatra, Classic Forties and Encharmed, as well as new releases like Mayan Wild Mystery and Wild Stallion.

READ: Bragg Gaming unit ORYX Gaming to showcase content aggregation platform at iGB Live in Amsterdam

“We welcome Stakelogic to our platform and are excited that our partners will be able to access its extensive games portfolio through one simple integration,” ORYX CEO Matevž Mazij said. “Stakelogic is widely recognized and respected in the industry and we’re particularly pleased to have a partner with strong experience in the Dutch market, which is expected to open in 2021.”

The ORYX Hub allows its partners to pick and choose titles from more than 80 video game developers including Gamomat, Red Tiger, Evolution, iSoftBet and many others. ORYX showed off the Hub at the iGB Live conference in Amsterdam, which is where the agreement with Stakelogic was struck.

Bragg’s shares added 2.56% in Toronto.

Contact Andrew Kessel at

Follow him on Twitter @andrew_kessel

Thu, 18 Jul 2019 09:55:00 -0400
Nemaura taps senior healthcare executive to support global launch of SugarBEAT Nemaura Medical Inc (NASDAQ:NMRD) is welcoming a senior healthcare executive to help launch its glucose monitor product to a global audience.

The Loughborough, UK-based medical technology company announced Thursday that Chris Avery is joining the executive team as vice president of global business operations.

Avery will support the worldwide commercial launch of SugarBEAT, the world's first non-invasive continuous glucose monitor (CGM) for people with diabetes.

READ: Nemaura Medical submits De Novo application for SugarBEAT glucose monitor to FDA

As a cofounder of UK medical device distribution company DiagnoSys Medical, Avery oversaw operations and sales, leading the negotiations for the company’s sale to Home Diagnostics and transitioning as the company’s European director.

He has launched numerous glucose monitoring portfolio, stents and insulin pumps into the UK and European markets at Home Diagnostics and Nipro Diagnostics.

Avery was also involved in the pre-launch phase for the distribution of SugarBEAT.

“We are pleased to welcome Chris to the senior management team at Nemaura, as he brings extensive knowledge of SugarBEAT and a proven track record within the diabetes space,” said Dr Faz Chowdhury, Nemaura’s CEO.

“In addition, to overseeing our collaboration with DBE in Europe, we look forward to Chris’ increased involvement in overseeing our global rollout through licensees and global distributors given his sector expertise and extensive relationships,” Chowdhury said in a statement.

READ: Ascendiant Capital Markets initiates coverage of Nemaura Medical with Buy rating, $3.25 price target

Avery will also be involved in the launch of Nemaura’s digital services, according to Chowdhury.

Nemaura recently submitted a De Novo medical device application to the US Food & Drug Administration for approval of SugarBEAT.

Contact Angela at

Follow her on Twitter @AHarmantas

Thu, 18 Jul 2019 09:49:00 -0400
IEC Electronics ramping up its service offering with the US government IEC Electronics Corp (NYSEMKT:IEC) CEO Jeffrey T. Schlarbaum tells Proactive Investors the New York-based electronic manufacturing services company has expanded its services with the Defense Logistics Agency from the US Department of Defense

Schlarbaum says the company's laboratory is now certified by the US government to complete counterfeit component detection, making sure components used in manufacturing are authentic.

Thu, 18 Jul 2019 09:48:00 -0400
Canbiola forms partnership with SHI Farms to utilize its "Monster" hemp processor Canbiola Inc (OTCQB:CANB) CEO Marco Alfonsi tells Proactive Investors the New York-based manufacturer of hemp-based products has formed a joint venture with Colorado-based SHI Farms and Mile High Labs.

Alfonsi says Canbiola will use SHI Farms' New York hemp cultivation license where New York-based farmers will deposit biomass, and Canbiola will then use its Colorado-based hemp processing machinery called "The Monster" to produce and sell hemp oil isolate and distillate.

Thu, 18 Jul 2019 09:35:00 -0400
Commuter-rail operator Chicago Metra taps Duos Technologies’ pantograph inspection system Duos Technologies Group Inc (OTCMKTS:DUOT) announced Thursday it has received a purchase order to provide its Automated Pantograph Inspection System (apis) for Chicago Metra, which oversees all commuter rail operations in the northeastern Illinois region.

The company said the system is designed to span four tracks and will capture high-resolution digital video imagery of critical pantographs located on top of passenger railcars.

The pantographs, which relay current from overhead electrical wires to power the train, are inspected for visual damage such as cracks, chips, and bends that could result in track downtime if not properly identified and repaired.

These video images are relayed for remote monitoring to the command and control software platform called centraco that provides an operational workflow for inspection, alerts, and maintenance orders.

READ: Duos Technologies Group to start trading on OTCQX Best Market

The Jacksonville, Florida-based company said installation of the apis system is being handled by its subsidiary Duos Technologies Inc and is expected to take place in the third quarter of 2019.

Duos did not disclose the financial terms of the contract.

"Chicago Metra has long been a trusted partner of ours, and we’re looking forward to expanding our relationship together,” said Duos CEO Gianni Arcaini.

“More broadly, being awarded another contract further validates the growing offering of solutions we’ve been developing for the passenger rail market. Going forward, we’ll be working closely with Chicago Metra to increase their track safety as well as reduce downtime over the coming years.”

Contact the author:

Follow him on Twitter @PatrickMGraham

Thu, 18 Jul 2019 09:25:00 -0400
Japan Gold gets its hands on prospective Togi Goldfield Japan Gold Corp (CVE:JG) (OTCMKTS:JGLDF) has again extended its exploration footprint, having acquired a new gold project, it revealed on Thursday.

The relevant Japanese government department has accepted its application for 15 new prospecting areas, covering 3,990 hectares on the Noto Peninsula region of Honshu Island.

This covers a 7km long zone of alteration and historic gold mining known as the Togi Goldfield.

This is the site of historic mine workings, which produced 48,000 oz (ounces) of gold between 1910 and 1921, including 16,500 ounces at 14 g/t (grams per ton) of gold, the firm said.

"The Togi Goldfield represents another highly prospective yet under-explored area in Japan," said John Proust, chairman and CEO of Japan Gold.

"The scale of the alteration corridor, shallow workings along it, and evidence of preservation of the epithermal system from sinter exposures are very encouraging. Japan Gold looks forward to advancing the Togi Project along with the rest of its regionally diverse portfolio."

READ: Japan Gold gains ground in the Land of the Rising Sun

Gold mineralization was first discovered in the Togi area in 1896 and deposits mined in the area are divided into the Hirochi deposits in the northeast and Urugami deposits in the southwest

The Mori vein from the Hirochi group produced 16,500 ounces of gold at an average grade of 14 g/t. The vein is reported to be up to four metres wide, with gold values ranging between 8 and 20 g/t gold.

Records show that mineralisation at lower mine levels are open at depth with average grades of 8.12 g/t gold and 56.9 g/t silver.

Meanwhile, the Togo Mine, the largest within the Urugami area, generated more than 18,000 ounces of gold and 83,000 oz of silver from stockwork vein and breccia zones.

Thirteen gold projects

The firm has 13 gold projects (on the three largest islands of Japan--Hokkaido, Honshu and Kyushu), which cover areas with known gold occurrences, a history of mining and are prospective for high-grade epithermal mineralization.

It also has five lithocap projects which could indicate the presence of porphyry mineralization.

Contact Giles at

Follow him on Twitter@Gile74

Thu, 18 Jul 2019 09:18:00 -0400
CB2 Insights expands data analytics platform to the UK through new medical cannabis pilot program CB2 Insights Inc (CSE:CBII) (OTCMKTS:CBIIF) is expanding its data analytics platform into the United Kingdom thanks to a new partnership with the country’s largest medical cannabis pilot project.

The Toronto-based company announced Thursday that it has been selected as the exclusive research technology platform for Project TWENTY21, a new pilot project to assess the efficacy, safety, quality of life and health outcomes for 20,000 patients using cannabinoid therapies.

Shares of CB2 shot up 5.3% by Thursday's midday trading point at C$0.20.

READ: CB2 Insights advancing new medical cannabis evaluation tool, completes first phase of integration

The data analytics company will provide the platform to build the patient registry and collect statistical evidence throughout the program, CB2 said in a release.

Project TWENTY21 is spearheaded by Drug Science, an independent, science-driven UK charity that aims to bring leading drug experts together to conduct original research into the effects of drugs, harmful or otherwise.

The pilot aims to create the UK’s only independent GDPR-compliant database of patient health data for patients suffering from chronic pain, post-traumatic stress disorder, multiple sclerosis, Tourette’s syndrome and other conditions, who use medicinal cannabis in their treatment regimens.

CB2 Insights is also joining the Drug Science working group comprised of patient organizations, academic institutions and licensed producers such as Althea Group Holdings Limited (ASX:AGH), Cannuba and Alta Flora.

Rapidly growing market

CB2 CEO Prad Sekar said the company was “thrilled” to extend its expertise to the UK, citing the country’s potential to rapidly advance medicinal cannabis adoption.

“Drug Science is the only organization bringing evidence-based understanding to the UK market, and this represents a tremendous opportunity for CB2 to expand our data pool and extract more real-world evidence,” Sekar said in a statement. “We look forward to contributing our expertise to the Drug Science working group.”

According to Drug Science’s CEO David Badcock, Project TWENTY21 is designed to remove the barriers that come with a lack of evidence-based data for physicians and patients to feel more confident prescribing and using cannabinoids as a treatment option.

“We believe that Project TWENTY21 will change the landscape in the UK medical cannabis field, and this partnership with CB2 Insights advances that effort in a major way,” Badcock said in the statement.

The pilot program launches on July 18.

--Updated with share price--

Contact Angela at

Follow her on Twitter @AHarmantas

Thu, 18 Jul 2019 08:53:00 -0400
GSRX's Point Arena Manufacturing to launch cannabis concentrate production by third quarter end GSRX Industries Inc’s (OTCMKTS:GSRX) cannabis subsidiary Point Arena Manufacturing expects to begin full-scale operations by the end of the third quarter, the company announced Thursday.

It plans to produce cannabis concentrates for vaping products as well as Dragonglass, a proprietary edible formulation of tetrahydrocannabinol (THC).

Point Arena has received the necessary licensing to begin production in California, and all that remains is construction of the manufacturing facility. The plant is expected to be completed and properly inspected in September.

READ: GSRX Industries bolsters executive team with new COO

The company hopes to capitalize on vaping’s growing share of the cannabis industry. From 2015 to 2017, vaping jumped from $200 million in sales, representing 4.2% of the cannabis market, to $1.1 billion in sales, representing nearly 13% of the market, according to data from the market research firm Arcview.

By 2021, the firm projects vape sales to swell to $5.3 billion and account for 25% of cannabis sales.

GSRX currently operates five dispensaries in Puerto Rico under the name Green Spirit RX and one in California called The Green Room. Five additional dispensaries in Puerto Rico are in the process of development and construction.

Its stock stumbled more than 11% to $0.75 midday Thursday.

Contact Andrew Kessel at

Follow him on Twitter @andrew_kessel

Thu, 18 Jul 2019 08:28:00 -0400
Agile Therapeutics names industry veteran Dennis P. Reilly as CFO Agile Therapeutics Inc (NASDAQ:AGRX) has announced the appointment of Dennis P. Reilly as its chief financial officer.

Reilly, a veteran of the diagnostic and pharmaceutical industries, is being brought in to help Agile prepare for the potential commercialization of its lead product candidate Twirla -- a low-dose prescription contraceptive delivered through the skin via the company’s proprietary patch. The company said on Thursday that he will start on August 5.

“We remain focused on seeking approval of Twirla and building a robust women’s health company,” said Agile CEO Al Altomari.” We are committed to making the investments and assembling the team we need to achieve those goals.”

READ: Agile Therapeutics to meet FDA committee in October to review NDA for Twirla

The Princeton, New Jersey-based company has completed its Phase 3 clinical trials of Twirla and is pursuing regulatory approval in the US after resubmitting a New Drug Application with the Food and Drug Administration for Twirla in May.

The FDA has assigned a Prescription Drug User Fee Act action date of November 16, 2019 for the completion of its review of Twirla.

Reilly's experience

In its statement, Agile said Reilly has had significant experience with commercial companies in the pharmaceutical and diagnostics sectors.

Most recently, from 2017 to 2019, he served as chief financial and operations officer of Invisible Sentinel Inc, a Philadelphia-based diagnostics company that was sold to BioMeriux, a French biotechnology company, where he contributed to the initial commercial growth of the company.

From 2009 to 2017, Reilly was the chief financial officer of NeoStrata Company Inc, a Princeton-based global leader in dermocosmetics, which was sold to Johnson & Johnson Consumer Inc in 2017, where he oversaw several important initiatives to restructure the company and return it to financial growth.

From 2005 to 2008, he served as the chief financial officer, and prior to that role, as controller of Barrier Therapeutics Inc, a dermatology-focused specialty pharmaceutical company, which was sold to Steifel Laboratories Inc in 2008. And Reilly, a certified public accountant, was the corporate controller at the Medicines Company (NASDAQ:MDCO) from 2002 to 2005.

Contact the author:

Follow him on Twitter @PatrickMGraham

Thu, 18 Jul 2019 08:28:00 -0400
Gold Resource Corp reiterates full year production guidance for Mexican mines as it reports 2Q numbers Gold Resource Corporation (NYSEMKT:GORO) has reiterated the full production guidance for its Mexican mines of 27,000 ounces of gold and 1.7 million ounces of silver, plus or minus 10%, as it posted second quarter numbers.

In the three months to end June 2019, its Oaxaca Mexican mining business saw 7,881 ounces of the yellow metal generated, plus 466,512 ounces of silver, 482 tonnes of copper, 2,304 tonnes of lead, and 6,054 tonnes of zinc. 

READ: Gold Resource Corp shares rise as Roth initiates coverage with a Buy rating

For the first half, the unit posted 14,419 ounces of gold, 831,165 ounces of silver, 915 tonnes of copper, 4,457 tonnes of lead, and 11,892 tonnes of zinc, the miner said in a regulatory statement on Thursday.

At its Nevada, USA mining unit, GORO reported output at 1,678 ounces of gold and 972 ounces of silver. 

Significantly, on April 29 this year, the firm's Isabella Pearl mine in Nevada produced its first dore bar, a semi-pure alloy of gold and silver, and since then the mine has produced gold consistently.

The mine continues to ramp up production and the firm expects the project to reach commercial production during the second half of 2019, it said in the statement.

Production guidance for this year at the Nevada unit is expected to be announced soon when the Isabella Pearl project has reached commercial production levels, it added.

Monthly dividends

The miner has returned US$112 million to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver.

Last month, Roth Capital Partners started coverage of the firm with a Buy rating and a US$6.50 price target.

Analysts said the firm has positioned itself to "continue to generate positive cash flow at its Mexico unit while executing on growth initiatives in Nevada".

Shares gained 1.7% in New York Thursday to stand at US$3.61 each.

Contact the author at

Thu, 18 Jul 2019 08:24:00 -0400
Namaste Technologies looks to a brighter future as it aims to be the world’s leading cannabis marketplace Needless to say, it's been quite the year for Namaste Technologies (CVE:N) (OTCMKTS:NXTTF). 

"We are, essentially, inventing an industry," interim CEO Meni Morim told Proactive in an interview. "Investors need to have faith and they do. We are currently building something that doesn’t exist."

Namaste has lofty ambitions when it comes to specialty e-commerce but its premise is simple: own the world of cannabis e-commerce, and be a one-stop shop for everything a cannabis user needs.

The Toronto-based company, which has been described as the “Amazon of cannabis,” operates the largest global cannabis e-commerce platform with over 30 websites in more than 20 countries under a variety of brands, through its licensed subsidiary CannMart Inc. That is not to mention, as well, its efforts in artificial intelligence, cannabis strain research and a global telemedicine app, plus sales of medical cannabis from its facility in Toronto.

READ: Namaste and True Leaf join forces to sell hemp-based pet products directly to consumers

Interim CEO Morim is the first to accept and recognize that the firm has had a shake-up number of months, but says it is now much better positioned and more streamlined as it continues with its ambitions. 

There's little doubt the first chunk of 2019 was spent dealing with a number of issues, including a management shakeup that saw former CEO Sean Dollinger removed, and former chief product officer and director of artificial intelligence Morim step in as interim boss. 

"It’s been very bumpy," said Morim. "We’ve had a lot of legacy issues to handle and we’ve put most of them behind us."

Namaste delayed its 2018 annual financials, as well as its Q1 2019 financials. The firm had switched auditors, which led to the delay, with new auditors coming in and having to start from scratch. The firm, to its credit, did reach out to respective securities regulators to request a management cease trade order, in respect to the late results filing. 

"We did that proactively for the benefit of the shareholders," said Morim.

But now, the firm needs to regain investor trust as well, which it says it is well-positioned to do as it continues to execute on its strategic plan, growing the business and creating shareholder value. 

"We have great people across the company and a solid business," said Morim. 

And naturally, through every experience, lessons are learned and new policies put into place.

Customers the biggest asset

One of those moves has been the implementation of OKRs, or objective key results at the firm. In short, the tool creates alignment and engagement around measurable goals and is used by a number of heavy-hitter companies, such as Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOGL) and Facebook (NASDAQ:FB). Basically, the system drives companies through a performance growth culture.

Above all else, says Morim, the firm's single most important OKR is one very simple question: "Will this enhance our customer experience?"

"That's a fundamental change and puts us on the path of building that customer-focused marketplace," says Morim. 

"Our most valuable asset is our customers," he added. "We’re doing everything to let our customers know it."

Bolstered board

The firm has also moved to strengthen its board as well, with a number of new directors.

"We have a very active board and we are engaging our board in a frequent manner," said Morim. 

The company's audit committee was strengthened, in part, to make sure controls were put in place in order to avoid a late filing, with a clear schedule, and more streamlined process -- all necessary moves, according to Morim.  

Recent deals look promising

Namaste has had a string of recent deals that look promising, notably, its agreement with True Leaf Brands Inc (CSE:MJ) (OTCMKTS:TRLFF), which will see True Leaf’s pet products distributed through Namaste’s online dispensary platform.

"Partnering with a leading brand like True Leaf is an excellent way to enhance our consumer product offering and scale our vendor experience,” said Morim. “We're committed to building the most innovative and consumer-friendly marketplace, and this brings us one step closer to that goal."

WATCH: Namaste’s CannMart platform adds True Leaf's hemp based dog treats to platform

The company also has the benefit of a strong cash position, which will help it execute its strategy, while also boosting innovation. In its latest financial statement, the firm recorded around US$52.7 million of cash in the bank. 

Namaste’s business development team boasts a robust pipeline of partnerships which could strengthen the company’s position further. 

Looking forward

Namaste has had a tumultuous few months, and it will take time to see how the company transitions forward. Simply put: the results will have to follow. 

For now, the firm is continuing on its path, as it expands its reach and increases its total addressable market.

"We’re focused on streamlining in Canada," says Morim, adding that the company's aim is to offer an end-to-end experience, in a one-stop shopping way. 

Namaste’s goal is to provide a seamless transition from consulting a pharmacist about personal cannabis needs to being able to get a medical document and order product “near instantaneously.”

Here's an example: a medical patient in greater Toronto could feasibly learn about medical cannabis, schedule an appointment on the same day with a nurse practitioner, and get it delivered to their door by 5 pm, all under the Namaste umbrella.

Once the product was received, users could use Namaste's mobile app, Uppy Cannabis Journal, which allows medical cannabis users to track the effects of different cannabis strains on whatever symptoms they may be looking to address. That data is then fed into Namaste A.I., which provides cannabis strain recommendations, based on machine learning.

The firm is aiming for a single sign-on experience, similar to a Google account. 

"We're building an ecosystem," said Morim, adding that the firm is aiming to perfect the process in Canada and then look internationally, possibly to Germany, and is also keeping its eyes on the US. "We're building our platform in a modular way ... Once we get that right, we have the ability to expand that internationally. That's the high-level vision." 

Contact Katie Lewis at

Thu, 18 Jul 2019 08:00:00 -0400
Fura Gems bids farewell to board member Scott Moore Fura Gems Inc (CVE:FURA) (OTC:FUGMF) announced late Wednesday that its board of directors has shrunk. 

Scott Moore announced his resignation from the gemstone mining company’s board, effective immediately.

READ: Fura Gems further extends final deadline for acquisition of Mozambique ruby assets

Moore is the CEO of Euro Sun Mining Inc and the chief operating officer of the merchant bank Forbes & Manhattan. He chairs the board of directors at Copper One Inc, and he previously served as CEO of Dacha Strategic Metals.

Fura Gems is a Toronto-based company focused on the gemstone mining and exploration. The company owns a 76% stake in the Coscuez Emerald Mine in Boyacá, Colombia and an 80% effective stake in four ruby licenses in Mozambique.

The company saw its share price dip nearly 3% to C$0.17 in Toronto on Thursday and remained flat at US$0.14 on OTC Markets.

Contact Andrew Kessel at

Follow him on Twitter @andrew_kessel

Thu, 18 Jul 2019 07:52:00 -0400
ICC International Cannabis to supply New Zealand’s NUBU with pharmaceutical THC, CBD products ICC International Cannabis Corp (CSE:WRLD.U) (OTCMKTS:WLDCF) said Thursday that it has inked an exclusive supply and commercial rights agreement with medical cannabis company NUBU Pharmaceuticals in New Zealand.

Under the terms of the agreement, the Vancouver-based cannabis company will supply NUBU with a suite of full-spectrum pharmaceutical grade medical cannabis products including:

• Packaged and labelled medical cannabis including oil/tincture and capsules in finished goods form

• ICC branded, co-branded and/or ICC labelled medical cannabis products under development including but not limited to cannabis oil, capsules, transdermal patches, oral sprays, inhalers and vaporizing cartridges

• Hemp derived CBD adhering to the international standard of less than 0.3% THC, in both bulk form - which includes CBD isolate, CBD distillate - full spectrum oil and finished goods

READ: ICC International Cannabis is growing a worldwide cannabis cultivation and lifestyle brand

The company said it will leverage its European GMP-certified processing facilities and extraction ready inventories to maximize margins and profitability, while servicing New Zealand’s high value patient population.

A match made in heaven

“ICC’s exclusive supply and commercial rights agreement with NUBU successfully catapults the company into yet another high-value medical cannabis jurisdiction,” said International Cannabis CEO David Shpilt in a statement.

Shpilt noted that "the marriage” of the company’s product formulation capabilities and extensive CPG/branded product market entrance experience, coupled with NUBU’s CBD/THC distribution infrastructure would drive brand loyalty, while addressing medical conditions within the Asia-Pacific theatre.

Founded in 2017, NUBU Pharmaceuticals is a first mover within New Zealand’s high-value medical cannabis industry. Earlier this year, NUBU received a license to deal in controlled drugs by New Zealand’s Ministry of Health, as well as a license to sell medicines wholesale, which will allow the company to import and distribute ICC manufactured THC/CBD products ahead of other local market participants.

In collaboration with NUBU, the company is also in discussions about the distribution of a number premium medicinal and wellness products from New Zealand to export markets internationally. Shpilt said ICC now has supply, distribution and commercial rights agreements with a host of high-profile cannabis operators across a variety of regions primed for exponential growth such as India, Germany, New Zealand and Colombia.

Separately, the company also said it has issued 318,757 shares to JYT Partners Limited for services rendered. The shares are being issued as a shares for services transaction.

ICC is developing cultivation platforms for extraction, formulation and distribution of cannabis and has operating assets in the UK, Europe, Australia, South America and Africa.

Contact Uttara Choudhury at

Follow her on Twitter@UttaraProactive 

Thu, 18 Jul 2019 07:47:00 -0400
Metalla Royalty and Streaming provides portfolio update Metalla Royalty and Streaming Ltd (CVE:MTA) (OTCMKTS:MTAFF) revealed an update Wednesday on its promising portfolio of royalties and streams.

The firm's current portfolio is made up of 43 royalties and streams, covering "a robust pipeline of development assets being advanced by some of the top operators in the gold industry and is expected to significantly increase our cash flow profile over the following years while we continue to add accretive assets to the portfolio," said CEO Brett Heath in a statement. 

READ: Shanta Gold extends New Luika mine life through to 2025

Notable highlights include Shanta Gold's (LON:SHG) New Luika Gold Mine (NLGM), located in Tanzania, in which Metalla holds a 15% silver stream on NLGM with the right to purchase silver at 10% of the prevailing spot price at delivery. 

Shanta Gold recently released an updated resource estimate there, which is expected to extend the mine life of the Tanzanian gold mine to at least 2025.

Exploration at the Bauhinia Creek (BC) Central deposit has converted 127,000 oz of inferred resources into 83,000 oz indicated with a grade of 7.85 g/t.

A further 58,000 ounces were added to inferred resources.

Shanta wants to keep the mine life at between 5-8 years and will next target an upgrade of 220,300 ounces of inferred resources at the deposits at BC, Ilunga, Luika and Elizabeth Hill.

READ: Metalla Royalty and Streaming closes acquisition of 2% royalty on El Realito

Metalla also gave an update on the Endeavor Silver stream in Australia, run by operator CBH Resources Limited. It has announced it will scale back production from 25,000 tonnes/month to 17,000 tonnes/month, while focusing on infill drilling of the new Deep Zinc Lode resource.

A production decision on the Deep Zinc Lode is expected in Q4 2019 with the potential to add 3-5 years of production.

"The Endeavor Silver stream has provided a meaningful return for shareholders in the two years since it was acquired with further upside potential remaining. It has already generated over 850,000 ounces of silver to Metalla's account, providing a payback and return on capital invested," said Heath. "The scaled-back production at Endeavor through the second half of this year is expected to be partially offset by the Joaquin and COSE royalties currently in development by Pan American Silver Corp. Both are expected to enter production during the coinciding period."

Metalla has the right to buy 100% of the silver production up to 20 million ounces from the Endeavor Mine for an operating cost contribution of US$1/oz for each ounce of payable silver, indexed annually for inflation, plus a further increment of 50% of the silver price over USD $7/oz.

At Atlantic Gold Corp's (CVE:AGB) Fifteen Mile Stream, in which Metalla holds a 1% NSR royalty, Atlantic has reported its plan of arrangement with St. Barbara Limited, and is expected to close on July 19, 2019. 

"Metalla views this as a positive step for our Fifteen Mile Stream royalty as the much larger, new operator of the mine will significantly reduce any financing risk on development capital needed to push forward to production on time," noted the firm. 

Metalla also enjoys a 2% NSR at the Santa Gertrudis, El Realito, and Akasaba West properties run by Agnico Eagle. Metalla said it expects further updates on the drilling from the increased budget at Santa Gertrudis following the discovery of new high-grade structures at Trinidad and follow up drilling on the back of ongoing successful exploration and infill at the recently acquired El Realito project which is part of the operating La India mine.

Shares of Metalla were at C$1.00 on Wednesday. 

Contact Katie Lewis at

Wed, 17 Jul 2019 20:25:00 -0400
Buds & Duds: Cannabis stocks perk up, with Curaleaf shares soaring on acquisition valued at US$875M Buds today are Curaleaf Holdings (CSE:CURA) (OTCMKTS:CURLF), Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF). Duds are Isodiol International Inc (CSE:ISOL) (OTCQB:ISOLF), Terra Tech Corp (OTCMKTS:TRTC). 

Wed, 17 Jul 2019 15:56:00 -0400
MMJ Group focuses on strategic vision to be leading cannabis investment company MMJ Group Holdings Ltd (ASX: MMJ) non-executive director Mike Curtis updates Proactive Investors about its strategic partnership with MMJ operating company Embark Ventures (EBV).

The two companies have combined to create the highest quality investments, earnings and share price return for investors in the cannabis sector.

Mike Curtis has also been appointed to a new position of investment manager for Embark Ventures’ Canadian business.

Wed, 17 Jul 2019 15:34:00 -0400
Empower Clinics announces first Sun Valley Clinics franchise application Empower Clinics (CSE:CBDT) CEO Steven McAuley sat down with Proactive Investors Vancouver to tell Steve Darling that Empower Clinics subsidiary Sun Valley Health has had its first application for a franchise.  McAuley talks about where the application came from and what the process is now.

McAuley also talked about the company filing it's BAR report and some of the information found inside. 

Wed, 17 Jul 2019 14:50:00 -0400
Equinox Gold Corp is well financed, well managed, and producing gold from two projects Equinox Gold Corp (CVE:EQX) CEO Christian Milau sat down with Steve Darling from Proactive Investors Vancouver to discuss the origins of the company and its relationship with mining industry legend Ross Beaty.

Milau also talked about their projects including the Aurizona Gold Mine in Brazil that has just started to pour gold.  

Wed, 17 Jul 2019 14:31:00 -0400
Shining some light on the uranium market The price of uranium could get its own ‘Trump bump’ in coming weeks after the US president declined to impose tariffs on imports of the radioactive metal.

Investors are hoping the so-called ‘232 decision’, named after the section of the US Trade Expansion Act that governs tariffs, will help pull the uranium market out of a period of uncertainty that has persisted over the last 18 months as investors fretted over the possibility of new restrictions. Colorado-based Energy Fuels Inc (TSE:EFR) (NYSEMKT:UUUU) was one of the instigators of the 232 decision.

WATCH: Energy Fuels commends President Trump's decision to review domestic uranium-supply solution

Andre Liebenberg, chief executive of uranium investment firm Yellow Cake PLC (LON:YCA), said that the move is expected to bring a return to “more measured” market activity, leaving the firm with a “highly confident” outlook of prices.

Uranium investors will be hoping for a recovery, as the spot price of uranium on Monday was languishing at around US$24.5 per pound (lb), down from around US$29 in January and well off the price of US$35.5 seen four years ago.

However, figuring out what moves the uranium price isn’t easy due to the disjointed nature of its market, which involves off-market deals between a cartel of companies and a network of uranium buyers in addition to day-to-day trading.

Who controls the supply?

The global uranium supply is dominated by a handful of producers which, as of 2017, made up 57% of total production.

The biggest player in the industry by far is Kazatomprom, a Kazakhstan state-backed mineral giant that contributed 20% of the world’s uranium output.

It is followed in second place by Cameco Corp (NYSE:CCJ), a Canada-based uranium miner that accounted for 15% of global production. Cameco also has controlling stakes in Cigar Lake and McArthur River, the world’s largest uranium mines.

Taking up the remaining spots in the top four are fellow Canadian firm Uranium One and French group Orano, which contribute 9% and 13% respectively.

There are also some familiar names further down the list, with FTSE 100 miners Rio Tinto PLC (LON:RIO) and BHP Group PLC (LON:BHP) collectively producing 8% of the world’s uranium.

However, while a Kazakh firm is the world’s biggest producer, the country itself only holds 14% of the global uranium resource, with Australia taking the top spot with 30%.

Languishing in fifteenth place is the US with around 1%, so it is perhaps not surprising that Trump would be hesitant about cutting off imports given the country’s limited supply and the importance of the metal to the military’s massive nuclear missile arsenal and as a power source for the reactors of its entire submarine and aircraft carrier fleet.

Long term vs spot pricing

Pricing uranium is a twofold process.

The first element is the spot price. This, in theory, is the daily price that reflects ongoing shifts in sentiment and to some extent trading on an open market between willing buyers and sellers.

Most non-mining companies that trade uranium, such as Yellow Cake, will often calculate their net asset value (NAV) based on this price.

The spot price is also sensitive to perceptions of supply and demand, with outages or production declines at the major uranium mines likely to move the needle.

However, it is widely known that most purchases of uranium are done away from the open market and on long-term fixed contract prices between the seller and the buyer.

These sellers, which are usually uranium miners, and the buyers, such as nuclear power plant operators, are under no obligation to reveal the price at which they trade, and they often don’t.

But a nuclear power station may want to secure a five or ten year supply at a price it has fixed in advance, giving it more security about the way it prices power for its customers.
If the spot price moves during the duration of these contracts, then that is just the good fortune of the party the price moves in favour of.

Most uranium trading is done in this more opaque market, hence using the spot to work out the uranium price can only ever be a guide.

The secondary market

As no new uranium mines are currently under construction, you’d think it would be easy to figure out the amount that is currently in the market, after all, you just need to know the resources within each of the existing mines.

However, it is not known exactly how much uranium is currently held in stockpiles by various countries.

This secondary uranium market often comes from former weapons-grade material or spent nuclear fuel left over from prior decades, particularly the Cold War.

Russia, for example, is expected to have a large amount of uranium stockpiled from the USSR days, and previous price rises have seen Moscow dumping part of their stash onto the market, which in turn depresses uranium’s value.

This mysterious Russian stockpile, coupled with a recent souring of the reputation of nuclear power following the Fukushima disaster in 2011, has depressed the price of uranium.

Uranium investing

With such an unclear (and some would say shadowy) market, how can an ordinary investor trade on the ups and downs of uranium?

This is where companies such as AIM-listed Yellow Cake come in.

READ: Yellow Cake welcomes US decision on uranium imports

Essentially, they buy and hold physical uranium in storage houses, akin to putting gold in a vault, and peg their NAV to the market’s spot price.

This provides shareholders with indirect exposure as the company is effectively acting as a proxy to fluctuations in the uranium price through its shares.

Yellow Cake isn’t the only firm to have adopted this model, with Toronto-listed Uranium Participation Corp (TSE:U) also offering investors the opportunity to indirectly hold uranium assets.

It is these companies that lie in wait for a value spike like that of 2007, when a flood at the Cigar Lake mine sent the spot price soaring 78% to US$135 per lb in six months.

However, with the current price about three quarters lower than that, they will need to be patient.

Wed, 17 Jul 2019 14:10:00 -0400
NexTech AR lands another client signing deal with Touchstone Home Products NexTech AR Solutions (CSE:NTAR-OTCQB: NEXCF) President Paul Duffy joined Steve Darling from Proactive Investors Vancouver to talk about the company signing a deal with Touchtone Home Products. The deal will start with a 6 product launch using NexTech’s web-based AR experiences for e-retail.

Duffy talks about when they plan on expanding products and how this agreement fits nicely into their business model.

Wed, 17 Jul 2019 13:54:00 -0400
Energy Fuels casts its eyes on uranium and vanadium as it continues to bolster its projects
  • Energy Fuels is the only conventional uranium producer in the US

  • Also only primary vanadium producer in the US

  • In light of higher spot prices, has ability to easily adjust vanadium production in response to changing market conditions



    What the company does:

    Headquartered in Colorado, Energy Fuels (TSE:EFR) (NYSEMKT:UUUU) is a fully-integrated producer of both uranium and vanadium, and owner of the only operational conventional uranium mine in the US.

    The firm owns and operates a mill and conventional mines that can produce up to 8 million pounds of uranium per year. The company utilizes both conventional and in-situ recovery technology and produce uranium from a number of strategic facilities – the White Mesa Mill in Utah and the Nichols Ranch Plant in Wyoming. The firm also has a licensed, permitted, and constructed ISR uranium facility on standby at its Alta Mesa facility in Texas.

    The company is also looking beyond uranium as a potential producer of vanadium, a co-product along with uranium at some of its mines. The firm has high-grade vanadium resources, along with a separate, high-purity vanadium production circuit at the White Mesa Mill.

    It has a strong cash and working capital position of around US$47 million and limited debt, at US$16 million. 

    How is it doing:

    Energy Fuels has had a very active year, as it moved forward a host of projects. While it continues to build its uranium position in the US, it is also focusing on its vanadium initiatives, in the light of higher spot prices. 

    At its White Mesa mill in Utah, the company has been producing its highest-purity V2O5 (vanadium pentoxide) to date, averaging around 99.6% due to updates at the facility last year. Energy Fuels is currently selling this vanadium (as ferrovanadium) into the steel industry, and it continues to pursue opportunities to sell portions into speciality chemical and aerospace markets, potentially at a premium.

    "Our campaign to recover vanadium from pond solutions at the White Mesa Mill is going very well," said Mark S. Chalmers, president and CEO of Energy Fuels.

    "Product purities are higher than expected, production costs are lower than expected, and vanadium prices remain at high levels. We also have the ability to adjust our vanadium production very easily in response to changing market conditions. This production readiness and flexibility is a key attribute when dealing with minor metals like vanadium. It allows us to be able to produce or conserve our vanadium, as we see fit, in response to market volatility."

    READ: Energy Fuels shares advance as it lauds vanadium production from Utah mill

    The firm also recently released an update on a new land cleanup contract at a formerly operating uranium mine in New Mexico.

    In June, Energy Fuels signed an agreement with the owner of the former mine, who is currently completing reclamation activities onsite. As part of the agreement, the owner will deliver material to Energy Fuels’ White Mesa Mill to process and recover uranium and dispose of the remaining tailings.

    The contract comes with anticipated revenue of between US$700,000 and $3.5 million. Energy Fuels also retains the title to recovered uranium or other minerals, which is currently estimated to be around 10,000 to 70,000 pounds of uranium valued at between US$250,000 to $1.75 million at current prices. The firm noted delivery of the material began in late June.

    WATCH: Energy Fuels commends President Trump's decision to review domestic uranium-supply solution

    One of the most notable moves by the company in the last year was its petition to the US government to initiate a Section 232 investigation into the effects of uranium imports on US national security. The Section 232 probe was prompted by a petition filed by Energy Fuels and Ur-Energy Inc (TSE:URE) (NYSEAMERICAN:URG).

    President Donald Trump said in a written memo that he agreed with a US Department of Commerce investigation that found uranium imports could hurt US national security. However, although he declined to impose tariffs on the radioactive metal, the President did say the findings "raise significant concerns," and in light of this, was ordering a deeper review.

    Energy Fuels said it commended President Donald Trump's decision to commence a new review of the domestic nuclear fuel supply chain and looked forward to participating in finding a solution.

    What the boss says:

    "We believe we are perfectly placed as a company, having the only conventional uranium mill that also processes vanadium, does recycling and potential clean-up work," said Energy Fuels CEO Mark Chalmers.

    "We think that it is a national security piece of infrastructure and that doesn't exclude the fact that we have other projects that are fully permitted and either currently producing or on standby." 

    Contact Katie Lewis at

    Wed, 17 Jul 2019 13:30:00 -0400
    Piedmont Lithium met test work produces 6.35% lithium concentrate Piedmont Lithium Ltd (ASX:PLL) has been able to produce a high-quality lithium spodumene concentrate product with a grade above 6.0% lithium oxide.

    Notably, the company’s metallurgy test work results compare favourably in several quality categories with the reported shipments of three emerging Australian spodumene producers.

    The pre-feasibility study (PFS) level metallurgical test work was conducted on composite samples of ore from the company’s flagship Piedmont Lithium Project in North Carolina, US.

    Overall lithium recovery during testwork for the preferred flowsheet was 77% at a grade of 6.35% lithium oxide.

    These results support an overall plant design recovery of 85% when targeting a 6.0% lithium oxide spodumene concentrate product.

    READ: Piedmont Lithium completes capital raising, focused on finishing DFS

    Piedmont president and CEO Keith Phillips said: “We are very pleased with the results of this PFS-level test work program, which confirms the outstanding mineralogy and metallurgy of the Piedmont Lithium Project.

    “We look forward to reflecting these strong results in our forthcoming scoping study update, which will also incorporate the substantially larger mineral resource announced in June as well as several other constructive refinements.”

    $21 million capital raising to progress DFS

    Earlier this month, Piedmont raised $21 million through the placement of 145 million shares priced at 14.5 cents to institutional investors.

    Proceed from the placement will be used to complete a definitive feasibility study (DFS) and continue development of the Piedmont Lithium Project.

    Global asset manager, Fidelity International, subscribed for 74 million shares meaning it will become a substantial shareholder in the company.

    Piedmont’s largest shareholder, AustralianSuper, the largest industry super fund in Australia also increased its investment through the $21 million placement.

    Wed, 17 Jul 2019 12:52:00 -0400
    Global Energy Metals teams up with Australian junior to study metal recovery potential at Millennium project Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) is teaming up with an Australian cobalt junior to study the potential for metal recovery on its recently acquired Millennium project, the company announced Wednesday.

    Vancouver-based GEMC said in a release that it signed a memorandum of understanding with Cobalt Blue Holdings Limited (ASX:COB) to investigate cobalt-copper-gold recovery potential at the Queensland project.

    GEMC recently acquired full ownership of the exploration-stage project, a promising cobalt-dominant asset with high scalable potential.

    READ: Global Energy Metals could increase inferred resource at Millennium project with more drilling, says report

    Cobalt Blue is an exploration and project development company advancing the Thackaringa cobalt project in New South Wales, Australia.

    As part of the agreement, GEMC and Cobalt Blue will combine efforts to review historical testwork to produce concentrates from the project and conduct analysis on its cobalt-pyrite quantity, grade and mineralogy.

    The two juniors will also collaborate to produce concentrate samples and complete laboratory-scale testwork with Cobalt Blue’s own processing technology that extracts and recovers cobalt and elemental sulpher from cobalt-pyrite feedstock.

    The processing technology was previously used at Cobalt Blue’s Thackaringa, proving technically and economically viable for the project. The results were then included in the release of the project’s initial ore reserve statement that accompanied a prefeasibility study.

    It was also used at Havilah’s Mutooroo deposit and Cudeco’s Rocklands project. 

    Viable options

    GEMC CEO Mitchell Smith said it was “invaluable” to conduct metallurgical testwork at Millennium during its early stage development and further de-risk the project.

    “Given the encouraging results of previous metallurgicals test with high recovery rates for copper, cobalt and gold we are confident that the results from this program can demonstrate a potentially viable option for the project,” Smith said in a statement.

    GEMC also said it was looking at various processing options for the company as it continues to grow the existing resource and delineate new targets at Millennium. 

    Shares of GEMC were trading at C$0.05 in Toronto at Wednesday’s midday point and at US$0.04 on OTC markets.

    Contact Angela at

    Follow her on Twitter @AHarmantas

    Wed, 17 Jul 2019 12:41:00 -0400
    LexaGene protects shareholder value by filing another 3 US patents to protect science Lexagene Holding (CVE:LXG-OTCQB:LXXGF) Co-Founder and CEO Dr Jack Regan joined Steve Darling on Skype to bring the news the company has applied for 3 more patents to protect their technology.  Regan discussed what those patents deal with.

    Reagan also told Proactive why it is so important for their company, which is pre revenue, to continue to go down the patent road.

    Wed, 17 Jul 2019 11:45:00 -0400
    Highlands Natural Resources showcases CBD products ahead of UK launch Highlands Natural Resources PLC's (LON:HNR) Nick Tulloch chats to Proactive London's Andrew Scott ahead of the start of sales of their cannabidiol (CBD) products in the UK this month.

    The oil and gas company made the move into CBD back in March this month.

    Tulloch says the first product lines to be sold in the UK will be CBD tinctures available in natural, peppermint, melon and blood orange flavours at strengths of 500mg or 1,000mg.

    Wed, 17 Jul 2019 11:31:00 -0400
    Buds & Duds: Cannabis stocks perk up, with Curaleaf shares soaring on acquisition valued at US$875M Cannabis stocks perked up on Wednesday, with broad-based gains across North American markets. 

    The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was up 1.4% to 221.4 points on Wednesday. The Horizons Marijuana Life Sciences Index ETF was up 0.5% to C$17.15. The OTCQX Cannabis Index was up 4.7% at 718.1 points.


    Curaleaf Holdings (CSE:CURA) (OTCMKTS:CURLF) shares were on the rise -- big time -- on Wednesday as it announced it has inked a mammoth US$875 million deal to acquire private producer GR Companies Inc (Grassroots). 

    The deal expands Curaleaf’s footprint to 19 states from 12, including Illinois, which recently became the 11th state to legalize recreational marijuana.

    Shares soared 16.7% at C$9.91 in Canadian trading, up 16.8% at US$7.60 in New York.

    The significance of the deal is important: the combined entity will have 131 dispensary licences, 68 operational locations and 20 cultivation sites. 

    "With the acquisition of Grassroots and the pending acquisition of Select, Curaleaf is the world's largest cannabis company by both revenue and operating presence," said Joseph Lusardi, CEO of Curaleaf. "With a combined 68 open dispensaries, this transaction significantly accelerates our expansion strategy and strengthens our reach across the medical and adult-use markets. In addition, it enhances the depth of our retail and wholesale platform across the country. By leveraging our scale, as well as our market leading capabilities and expertise, we will continue to deliver value for our shareholders."

    READ: Harvest One inks CBD-supply agreement with Kentucky hemp grower

    Other gainers Wednesday included Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF), which announced Wednesday that GenCanna Global USA will supply it with GMP Certified CBD oil and other finished products.

    Shares were up 1.2% at US$0.48 in New York, up 1.7% at C$0.61 in Toronto. 

    The Vancouver-based cannabis company said it will distribute, through its wholly-owned subsidiary Satipharm Ltd, GenCanna’s products in certain regulated markets in the US, Europe, and elsewhere globally. The products will be sold under the Dream Water, Satipharm, and LivRelief brands for an initial term of two years.

    READ: Mackie boosts price target on Valens GroWorks to C$8 after strong quarterly results

    Also on the rise was Valens GroWorks Corp (CVE:VGW) (OTCMKTS:MYMSF) after Mackie Research Corporation upped its price target to C$8 from C$6.75 following the extraction company’s strong quarterly numbers posted earlier this week.

    Shares were up 1.7% at C$4.15 in Toronto, up 1.9% at US$3.19 in New York. 

    The cannabis company released its second-quarter financial numbers on Monday, showing a boost in revenue to C$8.8 million -- which significantly surpassed Mackie’s C$5.8 million estimate.

    The research firm maintained its Buy rating for Kelowna-based Valens, citing its strong balance sheet and boosted extraction capacity as the key reasons for its recommendation.

    Other gainers Wednesday included Planet 13 Holdings Inc (CSE:PLTH) (OTCMKTS:PLNHF), which was up 4.6% at US$2.15 in New York on no news. 


    Shares of CBD manufacturer Isodiol International Inc (CSE:ISOL) (OTCQB:ISOLF) dropped Wednesday, down 5.1% to US$0.43, down 3.4% at C$0.57, closing in on an all-time low. 

    The stock has struggled in recent months, on the back of challenges in Mexico, a result of changes by the Mexico’s Federal Commission for the Protection against Sanitary Risk (COFEPRIS) surrounding CBD regulation and licenses.

    Year-to-date, the stock has dropped more than 80%. 

    Other laggards Wednesday included Terra Tech Corp (OTCMKTS:TRTC), down 4.3% at US$0.45. 

    The firm recently announced had started the process to open a CBD-only retail location called Blüm CBD in downtown Las Vegas. 

    Contact Katie Lewis at

    Wed, 17 Jul 2019 10:57:00 -0400
    Mackie boosts price target on Valens GroWorks to C$8 after strong quarterly results Mackie Research Corporation is upping its price target on Valens GroWorks Corp (CVE:VGW) (OTCMKTS:MYMSF) to C$8 from C$6.75 following the extraction company’s strong quarterly numbers posted earlier this week.

    The cannabis company released its second-quarter financial numbers on Monday, showing a boost in revenue to C$8.8 million -- which significantly surpassed Mackie’s C$5.8 million estimate.

    The research firm maintained its Buy rating for Kelowna-based Valens, citing its strong balance sheet and boosted extraction capacity as the key reasons for its recommendation.

    READ: Valens boosts revenue, brings in C$8.8 million in revenue in 2Q financials

    During the most recent quarter, Valens boosted its annual extraction capacity to 425,000 kg of dried cannabis and hemp biomass, thanks to increasing customer demand. The company has plans to boost capacity to more than 1,000,000 kg annually, with the buildout of its adjacent facility in Kelowna, British Columbia, which is anticipated to be completed in early 2020.

    “Valens continues to experience significant demand for its services and it is accelerating its growth to ensure that it is able to meet the growing demand of its partners for both extraction and white label product development,” wrote Mackie analyst Greg McLeish in a note.

    Also during the second quater, the company expanded the size and scope of its extraction agreement with Tilray Inc (NASDAQ:TLRY) by 300% to 60,000 kg per year, while adding contract manufacturing services.

    Mackie’s McLeish noted that Valens may provide contract manufacturing services for tincture bottles and gel caps, with the option to offer contract manufacturing services for other product formats such as vaporizer cartridges and topicals as Health Canada regulations allow.

    McLeish also noted the company’s balance sheet looked strong, with cash and short-term investments of approximately C$65.5 million at the end of the quarter.

    “This strong financial position will allow the company to increase extraction capacity at its Kelowna facility, to build out the recently acquired adjacent property which will add additional post-processing, product development and white label capacity, and for general corporate purposes,” McLeish wrote.

    Tier 1 issuer

    Valens aims to use its proprietary extraction techniques and technologies to help cannabis producers get the most from their plants. It also does a host of other things through its various wholly owned subsidiaries.

    The company recently listed on the TSX Venture Exchange as a Tier 1 life sciences issuer.

    Shares of Valens gained 2.2% in early trading in Toronto at C$4.17 and 2.9% on OTC markets at US$3.22.

    --Updated with share price--

    Contact Angela at

    Follow her on Twitter @AHarmantas

    Wed, 17 Jul 2019 09:34:00 -0400
    Harvest One inks CBD-supply agreement with Kentucky hemp grower Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) announced Wednesday that GenCanna Global USA will supply it with GMP Certified CBD oil and other finished products.

    The Vancouver-based cannabis company said it will distribute, through its wholly-owned subsidiary Satipharm Ltd, GenCanna’s products in certain regulated markets in the US, Europe, and elsewhere globally.

    The products will be sold under the Dream Water, Satipharm, and LivRelief brands for an initial term of two years.

    READ: Harvest One boosts health and wellness capacity after closing Delivera acquisition

    In addition, Winchester, Kentucky-based GenCanna will support Harvest One in the research, development, and formulation of both existing and new CBD-infused products.

    Harvest One said the agreement with GenCanna ensures the consistent supply of premium quality hemp-derived CBD for infusion in its existing products and further product innovation.

    "Working with world-class partners like GenCanna to supply premium quality, traceable, consistent ingredients, all from GMP-certified facilities, is critical to our core strategy at Harvest One to only offer consumers best-in-class premium products, with consistent and predictable effects, in delivery formats they have come to understand and demand," said Harvest One CEO Grant Froese.

    Global footprint

    Harvest One products are sold in some 38,000 retail distribution points around the globe, including, Walmart US, CVS, Kroger, Shoppers Drug Mart, Loblaw, Holland & Barrett and Boots.

    The company serves as an umbrella over three wholly-owned subsidiaries: United Greeneries, which is a licensed producer; Satipharm, which develops cannabis-based health products; and Dream Water, which offers consumer sleep aids.

    Harvest One's stock recently traded up 3.45% to C$0.60 a share in Toronto and 1.7% to US$0.47 a share on the OTC Markets.

    Contact the author:

    Follow him on Twitter @PatrickMGraham

    Wed, 17 Jul 2019 09:12:00 -0400
    Seelos Therapeutics files new drug application for a Sanfilippo syndrome study Seelos Therapeutics Inc (NASDAQ:SEEL) is one step closer to launching a Phase 2b/3 clinical study for the treatment of Sanfilippo syndrome.

    The company has filed an Investigational New Drug application with the US Food and Drug Administration for a clinical study of its drug SLS-005, also known as Trehalose.

    Seelos is collaborating with Team Sanfilippo Foundation, a non-profit foundation formed by parents of children with the condition. The foundation provided a grant that is going towards funding the study.

    READ: Seelos Therapeutics receives funding grant from Team Sanfilippo Foundation

    The parties are also expanding the study from its original parameters. In addition to the study for patients with Sanfillipo syndrome types A and B, which are more common, Seelos is now able to offer a separate expanded access study for patients with types C and D, as well as those with A or B who don’t meet the initial entry criteria.

    “We are very excited to be working with Team Sanfilippo to offer this innovative therapy to these patients for whom there is no effective treatment," Seelos' Chief Medical Officer Warren Wasiewski said. “Trehalose, with its multiple mechanisms of action, has the potential to be effective in a number of neurologic diseases for which we intend to explore.”

    Sanfilippo syndrome is a degenerative disease that affects the central nervous system, typically in children. It is caused by a deficiency in certain enzymes involved in the degradation of sulfate. Over time, patients suffer a loss of speech and other cognitive skills, heart problems and often death prior to adulthood.

    Contact Andrew Kessel at

    Follow him on Twitter @andrew_kessel

    Wed, 17 Jul 2019 09:00:00 -0400