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.
Snowline Gold Corp (CSE:SGD) (OTCPINK:SNWGF) announced that it has staked additional claims, significantly expanding its land position around its fully-owned Rogue, Rainbow, Cynthia, and Ursa projects in mountainous east-central Yukon, in Canada. The Yukon territory-focused gold exploration company revealed that 782 new claims were staked in total for an additional 18,864 hectares. “This brings Snowline's mineral tenure in the Yukon to 89,724 hectares across its seven projects,” said the company. The company explained that the new claims were “strategically staked” to cover structures, trends, and gold anomalies that extended beyond the bounds of its original holdings. The enhanced land position cements Snowline's cornerstone position in an emerging gold district in the prospective Selwyn Basin.
PharmaDrug Inc (CSE:BUZZ) (OTCPINK:LMLLF) announced that it has received Orphan Drug Designation for its dimethyltryptamine (DMT) formulation to prevent ischemia-reperfusion injury from organ transplantation from the US Food and Drug Administration (FDA). The designation was granted to PharmaDrug’s subsidiary Sairiyo Therapeutics Inc and covers solid organ transplantation, which includes the liver, kidney, heart and lungs. According to Toronto-based PharmaDrug, the orphan drug designation is broader than its original application, which was for kidney transplantation only.
Silver Range Resources Ltd (CVE:SNG) (OTCMKTS:SLRRF) (FRA:8SR) reports it has consolidated the historic Cambridge Mining Camp in the Walker Lane of western Nevada. Silver Range has entered into a joint venture with Auburn Gold Mining LLC of California to consolidate their respective claim holdings in the area of the Cambridge Mine and to explore the combined claim holdings (the project) in a coordinated manner. Auburn holds 15 Federal Lode Claims covering the Cambridge Mine and Silver Range holds 21 claims covering the nearby Enigma Property centered on the Price Lode showing. Both companies jointly own a block of 15 intervening claims.
Biocept Inc (NASDAQ:BIOC) has said it is partnering with the Foundation for California Community Colleges to make coronavirus (COVID-19) testing available for the state‘s 116 community colleges and their more than 2.1 million students. Through the Foundation’s CollegeBuys program, Biocept said its PCR-based COVID-19 test is now available for community colleges to purchase for students, faculty, and staff. The company noted that access to and availability of testing will provide the information needed to help protect the safety of campus populations and reduce the spread of the virus on campuses and in surrounding communities if or when students return from remote learning.
First Cobalt Corp (CVE:FCC) (OTCQX:FTSSF) (FRA:18P) announced that it has been awarded funding from the US Department of Energy's Critical Materials Institute (CMI) to research innovative mineral processing techniques for its Iron Creek copper-cobalt project in Idaho. The funding will go towards an interdisciplinary, collaborative research effort conducted in conjunction with the Kroll Institute for Extractive Metallurgy (KIEM) at the Colorado School of Mines over a two-year period, the company said, with the objective of identifying more efficient and environmentally friendly methods to process cobalt ore from pyrite material.
Tetra Bio-Pharma Inc (TSX:TBP) (OTCQB:TBPMF) (FRA:JAM1), a leader in cannabinoid-derived drug discovery and development, has submitted a request to the Malta Medicines Authority for a Scientific Opinion on its investigational new drug (IND) QIXLEEF for the company’s clinical trial programs. The company said the request includes guidance on the REBORN2 trial to be performed in Europe. QIXLEEF is a botanical drug product with a "fixed ratio" of THC and CBD and is inhaled through a vaporizer.
The Valens Company Inc (TSE:VLNS) (OTCQX:VLNCF) (FRA:7LV), a producer of cannabis products, announced that it has submitted an initial application to list its common shares on the Nasdaq. "We have taken a significant step forward in achieving one of our main goals for 2021 by filing our initial application for listing on the Nasdaq on the back of announcing our first acquisition in the US," President Jeff Fallows said in a statement. "We believe that listing in the US will unlock various opportunities to enhance corporate visibility, increase liquidity and broaden overall awareness of The Valens Company to a larger investor base while driving value for our shareholders." The listing remains subject to the review and approval by the Nasdaq and the satisfaction by Valens of all listing, governance and regulatory requirements, the company said.
Globex Data Ltd. (OTCQB:SWISF) (CSE:SWIS) (FRA: A2PN34) has said its Swiss hosted Sekur encrypted email, encrypted messaging and secure file-share solution will be featured on the Reason Foundation's Reason.com website through a series of paid informercials in a Podcast called 'The Reason Roundtable'. The Podcasts are scheduled to start on May 10 2021 and are scheduled on a weekly basis with informercial spots of 30 and 60 seconds each week. There will be a total of 31 informercials planned until December 31 2021. The company has received the guarantee of minimum 23,000 downloads per podcast episodes. This puts Sekur in front of tens of thousands of listeners in a targeted audience seeking privacy and security in their data and communications. Additionally, the Company plans several sponsored email ads with Reason.com. Alain Ghiai, CEO of GlobeX Data commented: "We are very happy to announce the start of our US mass market launch with the signing of the deal with Reason.com. This is one of many more media contracts which we plan to complete in 2021 in order to bring awareness of the Sekur and SekurMessenger solutions. There is a need for privacy and security in the US market, and globally. By having informercials in podcasts, we are starting to educate our target audience about Sekur and all its privacy advantages. This is part of our plan to spend US$250,000 in 2021 as previously announced, in order to build a large mass market awareness in the US market. As we are not connected, and never have been connected, to AWS, Microsoft Azure or Google Cloud platforms, commonly referred to as 'Big Tech', we can offer a truly independent, private and secure means of communications through secure messaging, secure voice record transfer and secure email through our proprietary technology and our secure servers based in Switzerland."
Ayurcann Holdings Corp. (CSE:AYUR) has announced the closing of its oversubscribed non-brokered private placement, first announced on April 12, 2021. The financing consisted of 3,189,585 units at a price of $0.189 each for total aggregate gross proceeds of $602,831.72. Each unit consisted of a common share in the capital of the company and one-half of one common share purchase warrant, with each full warrant entitling its holder to acquire one additional common share at an exercise price of $0.38 each for a period of 36 months from the date of issuance. Ayurcann said it intends to use the gross proceeds of the financing for their Pickering facility Phase 2 expansion, which, when such expansion is complete, is estimated to increase the company’s annual production capacity and manufacturing capabilities.
American Battery Metals Corporation (OTCQB:ABML), which is in the process of changing its name to American Battery Technology Company, said it has closed a registered direct offering of common stock at a purchase price of $1.65 per share with a single institutional investor for gross proceeds of approximately $15 million before deducting placement agent fees and expenses. Doug Cole, American Battery's chairman and CEO, commented, "This investment is a major step up for us and accelerates our goals for 2021, including the construction of our 20,000-metric ton per year lithium-ion battery recycling pilot plant and uplisting to a major US national exchange. This equity investment agreement greatly satisfies our capital needs for the pilot plant, from infrastructure build-out to purchasing equipment to integrating all of our processes and equipment. Our team is focused on delivering our pilot plant and getting into production with target operations to begin by the end of 2021 and revenue commencing in the first quarter of 2022."
Weekend Unlimited Industries Inc. (CSE:POT) (FRA:0OS2 (OTCQB:WKULF)) has announced that Robert Payment, its current chief financial officer as a director of the company. He will replace Michael Young, who has resigned from the board to pursue other business opportunities. Charlie Lamb, president and CEO of the company commented: "On behalf of the Board, we would like to thank Mike for all his efforts and support and wish him the best with future endevours." The company also announced that the Canadian Securities Exchange has approved the subdivision of its issued and outstanding common shares on the basis of four post-split common shares for every one existing common share Trading of the shares on a post-split basis on the CSE will commence from the opening of trading on April 28, 2021, with the record date set at April 29, 2021.
Fidelity Minerals Corp (CVE:FMN) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement announced on March 22, 2021, which will see the issue of 9,896,720 shares with a purchase price of 12.5 cents per share, together with 9,896,720 share purchase warrants with an exercise price of 15 cents for a two-year period with 29 placees.
TRACON Pharmaceuticals (NASDAQ:TCON) has said it will report its first-quarter 2021 financial and operating results after the close of US financial markets on Wednesday, May 5, 2021. In addition, management will host a conference call to provide an update on corporate activities and discuss the financial results on May 5 at 4.30pm Eastern Time (1.30pm Pacific Time). Conference call details: Dial-in:(855) 779-9066 (Domestic) or (631) 485-4859 (International); Passcode:8852857; via webcast: www.traconpharma.com; “Events and Presentations” section within the “Investors” section. A replay of the webcast will be available for 60 days on the company's website.
Versus Systems Inc. (NASDAQ:VS) (FRA:BMVB) has said it will host its first-ever virtual investor day on Thursday, May 20, 2021. The interactive, gamified presentation will be held on the Versus Systems website and will begin at 1.30pm Pacific/ 4.30pm. Eastern time. Versus Systems’ executive management team will make a series of presentations to investors covering recent developments, its strategies and tactics for growth in markets around the world, and details and plans for its recently announced partnership with Xcite Interactive. The presentation will be accessible via the Versus Systems website at www.versussystems.com/investorday. It will be powered and enhanced by XEO, the second-screen application developed in partnership with Xcite that features trivia, polling, prizing, and more, and which the company expects to be a revolutionary, highly engaging new advertising model. Questions for a Q&A session may be sent in advance to [email protected] Updates and further details will be available at www.versussystems.com
OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for 11,000 US and global securities, has announced that Blackrock Silver Corp. (CVE:BRC) (FRA:AHZ0) (OTCQX:BKRRF), an acquisition, exploration and development company focused on precious mineral properties in North America., has qualified to trade on the OTCQX Best Market nd has today upgraded from the OTCQB Venture Market. The OTCQX Market is designed for established, investor-focused US and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among US investors. Andrew Pollard, president and CEO of Blackrock Silver, commented: "Given the Company's focus on advancing our flagship Tonopah West silver-gold project situated in Nevada, we are delighted to graduate to the OTCQX which will further enhance Blackrock's presence within the United States." He added: "Assets like Tonopah West are rare, and there is an increased demand for silver-primary projects located in North America. Trading on OTCQX will provide enhanced access to US-based funds and retail investors, bolstering Blackrock's stock visibility. This represents a natural step forward in the growth and evolution for the Company."