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NA Proactive news snapshot: Aftermath Silver, True Leaf Brands, Talon Metals, ElectraMeccanica UPDATE ...

A glance at some of the day's highlights from the Proactive Investors US and Canada newswires

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Aftermath Silver Ltd (CVE:AAG) (OTCQB:AAGFF) reported a CIM (Canada) compliant resource estimate for its Cachinal silver-gold project in Chile, showing 16.32 million ounces of silver in the higher confidence indicated category. Of those, 15.03 million ounces were in an open pit and 1.29 million ounces were underground. "We're pleased to be able to release this current resource for Cachinal. We were fortunate to have been able to work with Chilean based independent QP, Sergio Alvarado Casas, who was able to conduct the site visit as Chilean COVID19 restrictions have eased in some areas," said Ralph Rushton, the CEO of Aftermath. "As soon we're able to, the company will commence field work on both the Cachinal and Challacollo projects. Planning for this is well advanced."

True Leaf Brands Inc (CSE:MJ) (OTCPINK:TRLFF) announced Wednesday that it is reshuffling its management team, with former CEO Darcy Bomford stepping into the role once again on an interim basis. The Vancouver-based firm said it missed the September 14 filing deadline for its annual financial statements due to the coronavirus pandemic and has applied for a management cease trade order (MCTO) with the British Columbia Securities Commission (BCSC). The company expects to complete the filing as soon as they are available and no later than October 14. Until that point, True Leaf will comply with BCSC guidelines. During the cease trade order, the public will continue to be able to trade the common shares listed on the CSE, but the company’s executives will not. True Leaf will also not be able to issue securities to or acquire securities

Talon Metals Corp (TSE:TLO) reported new results Wednesday from an ongoing drill campaign at its Tamarack project in Minnesota that highlighted the project’s potential to become a significant nickel resource. The firm revealed massive and disseminated sulphides in one drill hole of 2.8 metres at 3.8% nickel, 1.6% copper, 0.1% cobalt, 0.6 grams per ton (g/t) platinum group elements (PGEs) and 0.4 g/t gold starting at 139 metres. Another drill hole from the north area of the target returned intercepts of 2.2 metres at 1.8% nickel, 0. 9% copper, 0.1% cobalt, 0.3 g/t PGEs + 0.1 g/t gold, starting at 117.7 metres. The new results are more than 300 metres away from the current resource at Tamarack in an area known as CGO East, where Talon expects to the massive sulphide unit to be “much wider” than what is already defined in the resource area.

ElectraMeccanica Vehicles Corp (NASDAQ:SOLO), a designer and manufacturer of electric vehicles, announced Wednesday that it is planning to produce an alternative “utility and fleet” version of its flagship SOLO EV, which is expected to become available in early 2021. The company said the modified vehicles are being developed based on direct input from potential commercial and fleet partners and will be equipped with a stylish and functional cargo “cap,” offering additional capacity and versatility to suit a variety of different, single-occupant commercial and utility fleet applications. Last month, ElectraMeccanica announced that it had commenced assembly line production of the consumer version of the SOLO EV through its manufacturing partner and strategic investor Zongshen Industrial Group in China.  

Revive Therapeutics Ltd (CSE:RVV) (OTCMKTS:RVVTF) said its potential coronavirus treatment Bucillamine has received approval for compassionate use from the Institutional Review Board. The approval falls under the US Food and Drug Administration’s expanded access protocol (EAP) treatment program in the US, the Toronto-based company said in a statement. Bucillamine, an approved drug for rheumatoid arthritis, is being explored as a possible treatment for infected patients suffering from inflammation in their lungs. The EAP for compassionate use is a multi-centre, open label study of Bucillamine in hospitalized patients with severe COVID-19, Revive told shareholders. The program will be a complement to Revive’s ongoing Phase 3 COVID-19 study in the US.

Todos Medical Ltd (OTCQB:TOMDF) announced Wednesday that it has expanded its partnership with Care GB Plus for the development and commercialization of its proprietary TBIA cancer diagnostic platform to include Europe, Israel and Africa. Todos originally executed an agreement for the development and commercialization of its TBIA or Todos Cancer Tests in Israel in 2018. In the expanded agreement, Todos said both companies have agreed to form a joint venture for the Todos Cancer Tests in Europe, Israel and Africa. Care GB will own 67% of the newly formed JV with Todos owning 33%. Also, Care GB is assuming all costs associated with product development and algorithm optimization responsibilities required to commercialize the Todos Cancer Tests.

Canafarma Hemp Products Corp (CSE:CNFA) unveiled a tie-up with Dutch pharma group APeT BV to develop new approaches to deliver its hemp-based products to people. ApeT BV is the firm behind the patented FLOTEX‐C system, where active ingredients are delivered in a time released manner via a capsule that 'floats' within the stomach. The pair will develop novel hemp-based cannabinoid, drug, and nutritional supplement delivery methods through the technology.

GR Silver Mining Ltd (CVE:GRSL) (OTCQB:GRSLF) revealed promising new drill results on Wednesday showing significant grades near surface at its Plomosas silver project in Sinaloa, Mexico. Highlights of the drill results near surface intervals included 5.1 metres at 19.2 grams per ton (g/t) Au, and 18 metres at 554 g/t silver equivalent (AgEq). The initial two drill holes are in the Plomosas Mine area, targeting expansion of the mineralization footprint along strike, and confirm attractive near surface mineralized zones. The results confirm the presence of “wide, shallow or near surface silver-gold-lead-zinc (polymetallic) veins and hydrothermal breccias,” said the company.

Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) reported more positive news on its multinational Phase 2b/3 human study of Ifenprodil to treat coronavirus (COVID-19). In a statement on Wednesday, the drug repurposing firm said the external data and safety monitoring board (DSMB) had unanimously approved the continuation of the study."We are very pleased with the unanimous decision of the DSMB to carry on with the study," said Christopher J. Moreau, chief executive officer of Algernon Pharmaceuticals. "It confirms what we had previously identified regarding Ifenprodil’s long-standing safety history."

Loop Insights Inc (CVE:MTRX) (OCTMKTS:VRZPF) revealed on Wednesday that it has signed an agreement with the University of Houston Athletics (UH) to implement the company’s contactless, artificial intelligence marketing solutions to provide personalized promotions and targeted engagement. In addition, the Vancouver-based advanced technology company said it will provide the University of Houston Athletics with its contact tracing solutions so that it can provide “a safe environment for fans and guests” while they are attending games at the iconic TDECU American football stadium on the campus of the University of Houston. The stadium serves as the home of the Houston Cougars football team, which represents the University of Houston in collegiate football and the Houston Roughnecks of the XFL.

True Leaf Brands Inc (CSE:MJ) (OTCPINK:TRLFF) announced Wednesday that it is reshuffling its management team, with former CEO Darcy Bomford stepping into the role once again on an interim basis. The Vancouver-based firm said it missed the September 14 filing deadline for its annual financial statements due to the coronavirus pandemic and has applied for a management cease trade order (MCTO) with the British Columbia Securities Commission (BCSC). The company expects to complete the filing as soon as they are available and no later than October 14.

AIM ImmunoTech Inc (NYSEAMERICAN:AIM) announced Wednesday that recruitment for the company’s Phase 1/2a study of Ampligen (rintatolimod) in cancer patients with the coronavirus (COVID-19) has begun at the Roswell Park Comprehensive Cancer Center in Buffalo, New York. The study will examine the effectiveness of Ampligen in combination with the protein interferon alpha-2b in treating cancer patients with mild-to-moderate COVID-19.

AEX Gold Inc (LON:AEXG) (CVE:AEX) has said exploration at its main Nalunaq project in Greenland, where it has already drilled five holes since mid-August, has identified an outcropping Footwall vein. The dual-London and Toronto-listed gold exploration group told investors that 1,200 metres of drilling had now been completed this summer season with first samples already sent to the lab. An aerial drone identified the footwall vein, which lies below the Main vein and in an area where two historic holes hit a mineralized quartz vein.

ImagineAR Inc (CSE:IP) (OTCMKTS:IPNFF) is bringing sports fans a virtual game-day atmosphere, thanks to a new partnership with the Minnesota Wild’s double A affiliate. The augmented reality company said Wednesday that the Allen Americans of the ECHL professional hockey league have selected ImagineAR’s technology for a variety of fan engagement and sponsorship programs. Vancouver-based ImagineAR and the Allen Americans have teamed up once before to use the latter’s technology to support local restaurant partners, whose operations were affected by the coronavirus pandemic.

Lexaria Bioscience Corp (OTCMKTS:LXRP) (CSE:LXX) said Wednesday it supports the corporate growth initiatives underway by its DehydraTECHTM licensee Boldt Runners Corporation, owners of the Cannadips CBD brand. Cannadips CBD is the original and leading CBD oral pouch brand in America, and Lexaria said its fast-acting absorption technology is inside every tin. Lexaria added that Boldt Runners is preparing for strong growth through its recent executive appointments, financing, and sales channel expansion. The combination is expected to lead to a large increase in sales volumes over the next 12 months.

Biocept Inc (NASDAQ:BIOC) said Wednesday it has received more than 35,000 COVID-19 specimens to-date for processing through its RT-PCR technology at its San Diego lab. The company added that it expects to collect an average reimbursement of about $100 per test. All told, Biocept said it has distributed about 83,000 COVID-19 PCR specimen collection kits so far this year and has inventory for about 87,000 additional collection kits.

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) announced Wednesday that Grundfos, a leading water pump manufacturer based in Denmark, has selected the company’s InfernoAR video conferencing platform to hold virtual summits in the UK, Norway and Sweden. The deal will pay NexTech C$60,000, a figure which could be pushed higher with sponsorship opportunities through virtual booths and augmented reality (AR).

Globex Mining Enterprises Inc. (TSX:GMX) (OTCMKTS:GLBXF) has increased its exposure to manganese by acquiring 15 claims, 20 kilometres north-northeast of Hartland, New Brunswick in Carleton County, covering the Grassville South manganese zone. In 1954, the company noted that Stratmat mapped the area and undertook a gravity survey followed by seven drill holes totaling 590 metres on the resulting gravity anomaly. A subsequent report by K.O.J. Sidwell, reported 453,500 tonnes of manganese mineralization grading 11.0% manganese and 8.45% iron to a depth of 80 metres in a body 250 metres long and approximately 10 metres wide.

Versus Systems, Inc. (CSE:VS) (OTCQB:VRSSF) (FRA:BMVA) has announced the first Asia-Pacific launch of its patented in-game rewards platform, OMEN Rewards. Powered by Versus, is now available in China inside HP's (NYSE:HPQ) OMEN Command Center, pre-installed in Pavilion laptops and desktops, and also available on the Windows App Store. According to Newzoo’s 2020 Global Games Market Report, the Asia-Pacific's gaming market will have approximately 1.4 billion gamers by the end of 2020 which is more than half of all players worldwide. The same report forecasts that the Asia-Pacific region will generate $78.4 billion in gaming revenues in 2020 - accounting for almost half of all gaming revenues globally. 

China Xiangtai Food Co Ltd (NASDAQ:PLIN) has announced that its controlled subsidiary Chongqing Ji Mao Cang Feed Company Limited (JMC) completed business worth 49 million Chinese renminbi (US$7.2 million) in sales of soybean meal over three months. The food processing company, headquartered in China’s industrial hub of Chongqing, said the soybean sales were boosted by around 18,000 tons of supply it procured from the China Grain Reserve Corporation's (Sinograin) Zhenjiang branch office. In a statement, China Xiangtai Food Chairwoman and CEO Zeshu Dai said: "We are pleased to generate these sales from the soybean meal and expect to continue expanding the scale of this business. As Sinograin’s long-term business partner, we have proved our capability and stability from past sales performance.”

Acasti Pharma Inc (NASDAQ:ACST) (CVE:ACST) told investors it has hired seasoned executive in the healthcare and financial sectors Brian D. Ford as its chief financial officer, effective September 14 this year. "Brian brings strong leadership skills, as well as analytical and financial skills that we believe will add significant value. As we explore strategic options and opportunities, we believe Brian’s experience in problem solving, strategic transactions, and M&A will prove beneficial," said Jan D’Alvise, CEO of biopharma firm Acasti in a statement. With over 30 years' experience, Ford has been responsible for developing business recovery strategies, negotiating M&A transactions, as well as managing quarterly and yearly accounting reports, said Acasti. Most recently, he was chief financial officer and senior business advisor at a private group of Ontario based medical clinics, including the largest chronic pain management practice in Canada.

Lexagene Holdings Inc (CVE:LXG) has said its final short form prospectus dated August 31, 2020, qualifying the distribution of 15.64 million units of the company (including the exercise of the overallotment option) at a price of 85 cents per unit for gross proceeds of $13,294,000, has been filed with and accepted by the TSX Venture Exchange. The exchange has been advised that the closing of the offering occurred on September 9, 2020.

Binovi Technologies Corp., (CVE:VISN) (OTCMKTS:BNVIF) has said it expects to file its interim financial statements for the first quarter ended May 31, 2020, by September 28, 2020. The company also confirmed its annual financial statements for the year ended February 29, 2020, were filed on September 11, 2020.

Quick facts: Algernon Pharmaceuticals Inc.

Price: 0.33 CAD

CSE:AGN
Market: CSE
Market Cap: $36.32 m
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Algernon Pharmaceuticals provides update on Phase 2B/3 study as they enroll...

Algernon Pharmaceutical (CSE: AGN-OTCQB: AGNPF) CEO Christopher Moreau joined Steve Darling from Proactive Vancouver with news the company has now enrolled a third of their patients in the Phase 2B/3 study of their repurposed drug Ifenprodil. Moreau discusses hitting that mark and also...

2 weeks, 6 days ago

12 min read