A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
BevCanna Enterprises Inc () (), a dominant player in the infused cannabis beverages industry, said Thursday that its partnership with award-winning Keef Brands positioned the infused beverage operator “very well for rapid growth” within the US market in anticipation of “positive federal regulatory reform” aimed at US federal cannabis legalization. BevCanna said its North American agreement with Keef Brands leverages the strengths of both companies “to full advantage.” BevCanna will act as the exclusive licensee, manufacturing and distribution partner to the award-winning US line of Keef infused drinks for the Canadian market, and will use the large Keef US manufacturing and distribution network to access the US cannabis market. The US has more than 1,000 dispensaries and delivery services across Colorado, California, Arizona, Nevada, Michigan, Oklahoma, and Puerto Rico, said the company.
Tocvan Ventures Corp () updated Thursday on its conclusions from recent technical studies at its Pilar project in Sonora, Mexico, which the firm believes could be a large epithermal gold-silver system. As reported last month, a significant recent find has been the interpretation of a pipe-like feature, 100 metres (m) in diameter in the east-central part of the property, which may be a feeder pipe related to epithermal mineralization. Notably, this pipe is coincident with the discovery, announced in June, of the high-grade silver East Zone, which contains areas of high-grade gold and high-grade silver. In fact, the two highest silver assay results are in this area, at 317 grams per ton (g/t) from soil sampling and 323 g/t of the precious metal from rock-grab samples, noted Tocvan.
Inc (CVE:VLNS) () (FRA:7LV) posted fiscal third-quarter results that saw its revenue jump 10% year-over-year driven by new brand partnerships, white-label, custom manufacturing agreements and existing contracts. For the period ended August 31, 2020, the Kelowna, British Columbia-based manufacturer of cannabinoid-based products, reported revenue of $18.1 million, compared to $16.5 million in the third quarter of 2019. The company’s gross profit was $7.3 million, or 39.5% of revenue, for the fiscal third quarter, compared to $12.8 million, or 77.8% of revenue, in the same period in fiscal 2019. Valens chalked up the reduction in gross profit to the “pullback in toll extraction volumes,” as the company shifts its focus toward driving “greater white label and custom manufacturing product volumes and sales.”
(CVE:SVM) has announced the results of its exploration program at the TLP mine in Henan province in China. The company said from October 1, 2019, to September 30, 2020, the drilling program at TLP has targeted the down/up-dip and along-strike extensions of known mineralized vein structures in the production areas, adding that exploration drilling and tunneling are continuing at the mine and all other mines at the Ying mining district where the project is located.