NA Proactive news snapshot: Namaste Technologies, XPhyto Therapeutics, BMEX Gold, Valeo Pharma, Snowline Gold …
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) (FRA:M5BQ) reported a year-over-year increase in its 1Q 2021 net revenue to C$5.5 million as cannabis sales climbed 113% from the same period last year. Namaste also said its net cash used in operating activities fell by $7.5 million to $2.5 million during the quarter, which the company attributed to improved management of its short-term assets. “We continue to transform CannMart.com, which saw sales increase in 1Q 2021 compared to the prior year as we see an increased number of vendors looking to sell their cannabis and accessories with us,” Namaste Technologies CEO Meni Morim said in a statement.
XPhyto Therapeutics Corp (CSE:XPHY) (OTCQB:XPHYF) (FRA:4XT) revealed that it has delivered 2,000 of its 25-minute coronavirus (COVID-19) RT-PCR test kits called Covid-ID Lab to an established medical distributor in Israel to clinically evaluate the test and pursue commercial regulatory approval. Based on the European CE-IVD approval of Covid-ID Lab, announced by the company on March 18, 2021, Covid-ID Lab will be evaluated by the Medical Device Division of the Israeli Ministry of Health (AMAR) for the purpose of securing Israeli regulatory approval, said the company.
BMEX Gold Inc (CVE:BMEX) (OTCMKTS:MRIRF) (FRA:8M0) said that it has engaged Laurentia Exploration as geological consultants to provide “a full suite of services” embracing the planning and interpretation of exploration programs, with a particular focus on “orogenic gold and gold-rich VMS mineralization.” The junior Canadian mining exploration company noted that Laurentia has recently been involved in “several significant discoveries,” particularly in Quebec. “Laurentia will report to and work directly with Chris Wild, the company's newly appointed Chief Geologist,” said the company.
Valeo Pharma Inc. (CSE:VPH) (OTCQB:VPHIF) (FRA:VP2) said it has entered into a Product Listing Agreement (PLA) with the executive officer of the Ontario Public Drug Program for the listing of Redesca and Redesca HP, it's low molecular weight heparin (LMWH) biosimilar, on the Ontario Drug Benefit Formulary with effect from April 30, 2021. "With Ontario representing 37% of the Canadian market for LMWHs, the listing of Redesca on the Ontario public formulary is a key milestone for the Redesca commercialization program", said Frederic Fasano, president and COO of Valeo in a statement.