NA Proactive news snapshot: ElectraMeccanica, Newgioco, Pacton Gold, Viscount Mining UPDATE …
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Vehicles Corp (NASDAQ: SOLO) announced Thursday that its latest SOLO electric vehicle retail location will draw crowds in suburban Portland, at Oregon’s well-known Washington Square Mall. The Vancouver-based firm is revving up the marketing of its all-electric SOLO, a three-wheeled single-passenger car by targeting key US West Coast markets which assiduously buy environmentally-friendly vehicles.The September 1 opening will mark the company’s second retail outpost at a Macerich-owned property following its successful debut at Scottsdale, Arizona’s Fashion Square in June. In the first few weeks of operation, the SOLO has generated “strong visibility” from both word-of-mouth and foot traffic, said the company.
Newgioco Group Inc () reported strong first-quarter results on Thursday that showed the gaming company swing to a profit compared to the year-ago quarter. Total revenue for the three-month period ended March 31, 2020 increased to US$10.2 million, up from the $9.3 million it put up a year earlier, while profit came in at $158,000 compared to the $3.1 million loss it posted in the first quarter of 2019. In a statement, Newgioco attributed the jump in revenue to the switch to online and mobile gaming from more traditional land-based venues, as well as the market’s adoption of the firm’s proprietary sports book solution.
Pacton Gold Inc () (OTCPINK:PACXF) has announced plans Thursday to begin a new expansion drill program at the Sidace joint venture (JV) gold project in Red Lake, Ontario. Pacton and its JV partner, Evolution Mining, have approved a C$2.44 million exploration program that includes 11,500 meters of drilling, along with re-logging and re-sampling historic drill core and geophysics. Pacton will run the program in October, which will focus on expanding all three mineralized zones.
() (OTCMKTS:VLMGF), the US-focused prospect generator, is set to raise up to C$4 million in a placing for further exploration at its properties and for working capital. In a statement on Thursday, the company said it was in the final planning stages of a drill program beginning in August at the 900 hectare Silver Cliff project, Custer County, Colorado. The project boasts an open pit resource which the firm expects to expand. This Kate Silver resource (KSR) has been extensively drilled since the 1960s, and is one of four known historic silver deposits at Silver Cliff. The KSR underlies around 36 hectares or 4% of the 900 hectares at Silver Cliff which Viscount controls.
BevCanna Enterprises Inc () (), revealed on Thursday that it has signed a non-binding letter of intent with Saskatchewan-based retail cooperative Weed Pool Cannabis Cooperative Limited (WPCC). Under the agreement, WPCC will distribute and sell BevCanna's line of cannabis-infused beverages and high-end extracts across its Saskatchewan cannabis retail distribution network. The Vancouver-based firm said the two companies intend to sign a definitive agreement within “the next 120 days.” A collective of independently-owned Saskatchewan cannabis retailers, WPCC is the largest cannabis buying group in the province. It is responsible for more than 50% of licensed cannabis sales in the province.
PowerOre Inc () is adding to its land position in the Chibougamau region of Quebec with a new acquisition next to its Opemiska copper complex. The Toronto-based junior said it has acquired the Scott property, a 2,930-hectare swath of prospective land contiguous with Yorbeau Resources’ Scott Lake project. ’s acquisition boosts its land package in Chibougamau by 30% to nearly 13,000 hectares in the province.
Loop Insights Inc () (OCTMKTS:VRZPF), a provider of contactless solutions and artificial intelligence to drive marketing, revealed on Thursday that it will launch its contact tracing platform in Nevada with two of Grupo Anderson's flagship Las Vegas restaurants, Senor Frog's and Carlos'n Charlies. The Vancouver-based technology company said the Vegas entry supports its broader push for global adoption. In addition to possible expansion into Grupo Anderson's other locations in Mexico, the Caribbean, and Spain, Loop is gaining traction with large projects in Canada, Australia, the UK, and Indonesia. Loop launched an automated contact tracing platform in June to support coronavirus (COVID-19) pandemic government mandates that require business owners to collect and store customer contact information for a 30-day period.
KULR Technology Group Inc () announced Thursday it will supply its carbon fiber thermal interface (FTI) material to Drako Motors, a Silicon Valley manufacturer of the high-performance electric supercar Drako GTE. The company said FTI offers superior thermal conductivity, ultra-lightweight and flexible mechanical properties designed for space exploration and defense applications where efficient cooling is paramount. Drako Motors will utilize KULR’s proprietary FTI as part of the thermal management system in Drako GTE, the quad motor 1,200 horsepower, 206 mph luxury electric supercar. “In our collaboration with Drako Motors, we are demonstrating a reference design platform for the highest performance EV supercar in the world,” said KULR CEO Michael Mo in a statement.
Mawson Resources Limited () (OTCPINK:MWSNF) has told investors that geophysics will start at its Redcastle project in Australia this month, followed by drilling from August as the company outlined previous exploration and work at the historic goldfield area. The firm noted that Redcastle was one of the key high-grade epizonal goldfields in Victoria, where mining began in around 1859. Extremely high gold grades were mined there in over 24 historic mining areas that extend over a combined 17 kilometres of combined high-grade vein strike.
() revealed it has expanded the scope of its proBEAT monitor, by commissioning the integration of data from other third-party wearable devices into the app. ProBEAT is a wearable glucose monitor designed to gather big data about the multitude of factors that affect blood glucose levels. The data is then used for predictive algorithms and artificial intelligence-based feedback to go back to wearers (users). The Loughborough, UK-based med-tech firm plans to launch the proBEAT app in the USA later this year.
() (OTCPINK:CBGZF) has identified a possible source of a number of coarse gold nuggets at the Climar target on its Cuiú Cuiú project in Brazil, it said Thursday. The Vancouver-based exploration company told shareholders that “numerous” coarse nuggets were recovered from drainages located around 350 metres from the Climar field in an area consistent with a major structural intersection. Grades of the 13 float samples recovered ranged from 1.4 to 12.3 grams per ton (g/t) gold, averaging around 4.5 g/t. The firm also outlined a significant gold-in-soil anomaly immediately south of the nugget field that extends around 1.8 kilometres.
Weekend Unlimited Industries Inc () (OTCQB:WKULF) said its CEO Chris Backus has resigned for personal reason, effective immediately, and that recently appointed COO Charlie Lamb has been named his successor. Lamb has more than a decade of experience at an international law firm in New York, where he worked on mergers and acquisitions; public and private offerings; broker deals; and corporate governance. He was named COO earlier this week and joined the board of directors. Now, he takes on an even larger role.
Global Energy Metals Corporation () (OTCQB:GBLEF) has entered into a definitive purchase agreement to sell a portfolio of royalty interests to Electric Royalties Ltd (CVE:ELEC) on the Millennium Cobalt Project, the Mt Dorothy Cobalt Project and the Cobalt Ridge Project in Queensland, Australia. "The closing of this royalty transaction and major endorsement by this new electric-metals royalty company underpins another step in the company's strategy to create value from its strategic battery mineral portfolio," said GEMC CEO Mitchell Smith in a statement Thursday. In consideration for a 0.5% gross metal royalty on Millennium and the Mount Isa projects, Electric Royalties will issue 1.15 million shares to GEMC and make a C$150,000 cash payment. The consideration shares will be escrowed and have a staged vesting period over 18 months.
Inc. () (OTCQB:TETOF) has announced that the company's common shares will begin trading on the OTCQB Venture Market at the opening of the market on July 23, 2020. Tony Reda, Tectonic president & chief executive officer commented: "Trading on the OTCQB Venture Market in the United States complements our Canadian listing on the TSX Venture Exchange and broadens our investor base. This is a timely milestone as we have a robust pipeline of exploration activity currently underway, and trading on the OTCQB will increase the Company's visibility to US investors and improve liquidity for our shareholders."
Inc () has told investors it is set to resume exploration at its exciting Larder gold project in Ontario, kicking off with a 13,000 metre drill program in August. The 3,370-hectare asset lies in the prolific Abitibi greenstone belt and hosts three high-grade gold deposits called Fernland, Cheminis and Bear, which the firm believes are all connected. The company's work last year and this have seen it accomplish much. In its first drill program, the group established a 2.5 kilometer strike length of gold mineralization, connecting the Bear and Cheminis deposits, within a larger 4.5 kilometer trend. It also discovered two new gold mineralization trends at the Kir Vit prospect, where mineralization was hit in 13 out of 16 holes.
Separately, also said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement, announced on July 20, 2020, which will see the issue of 10.3 million common shares and 4.05 million flow-through shares at purchase prices of 25 cents per common share and 30 cents per flow-through share with 23 placees.
Candelaria Mining Corp () said the TSX Venture Exchange has accepted for filing documentation in connection with the share purchase agreement dated October 25, 2018, between Donald Frazier McLeroy Felkins, Kathleen Erika McLeroy Chiew and Candelaria Mining whereby the company has acquired 40% of the issued and outstanding shares of Minera Apolo SA de CV, which holds several mining properties include the Pinos gold project that is located in the state of Zacatecas, Mexico. Consideration is 7,075,472 common shares.
Hill Street Beverage Company Inc () said the TSX Venture Exchange has consented to the extension in the expiry date 5,934,780 warrants with an original expiry date of July 24, 2020, to a new expiry date of December 31, 2020, with an unchanged exercise price of 30 cents, as well as 13,471,024 warrants with an original expiry date of July 24, 2020, to a new expiry date of warrants of December 31, 2020, with an unchanged exercise price of:35 cents. These warrants were issued under the company's qualifying transaction and concurrent private placement which was accepted for filing by the exchange effective July 27, 2018.
Hill Street Beverage also said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement announced and further closed on May 4, 2020, which will see the issue of $1,022,500 in principal amount of secured convertible debentures, convertible into common shares at 5 cents of principal outstanding per common share in year 1 and at 10 cents thereafter and with a maturity date of two years from the date of closing together with 20.45 million warrants exercisable at the price of 5 cents each and are further subject to an acceleration clause if the volume-weighted average closing price of the company's common shares exceeds 50 cents for 10 consecutive trading days with two placees.