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NA Proactive news snapshot: Co-Diagnostics, PyroGenesis, Gatling Exploration, GoviEx Uranium, KWESST Micro Systems, Clean Seed Capital UPDATE ...

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

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Your daily round-up from the world of Proactive

Co-Diagnostics Inc (NASDAQ:CODX) reported that its India manufacturing and sales joint venture CoSara Diagnostics Pvt Ltd has received clearance from the Central Drugs Standard Control Organization (CDSCO) to manufacture and sell its Saragene COVID-19 2-gene multiplex RT-PCR test as an in-vitro diagnostic for the qualitative detection of the SARS-CoV-2 virus. The CDSCO is India’s equivalent of the US Food and Drug Administration (FDA).

PyroGenesis Canada Inc (TSE:PYR) (OTCQB:PYRNF) (FRA:8PY) reported third-quarter 2020 revenue of C$8.1 million, a 289% year-over-year increase, along with a 16-fold improvement in its net income to C$15.3 million. The company also said its gross margin for the period rose 22.7% to 67.9%. And it ended the quarter with a $36.4 million backlog of signed contracts.

Gatling Exploration Inc (CVE:GTR)(OTCQB:GATGF) announced Wednesday a marketed private placement to raise up to $5 million. In addition, prior to completion of the offering, the company said it will complete a two for one (2:1) common share consolidation of all of its outstanding securities. In a statement, Gatling said there are currently 62,031,340 common shares issued and outstanding. Upon completion of the consolidation, there will be about 31,015,670 shares issued and outstanding. The company said the offering will consist of a combination of 5,454,545 post-consolidated shares issued on a flow-through basis at $0.55 each and 4 million units at $0.50 apiece.

GoviEx Uranium Inc (CVE:GXU) (OTCMKTS:GVXXF) revealed on Wednesday that metallurgical test work has now been completed for the updated pre-feasibility study for its Madaouela uranium project in Niger and the process was nearing conclusion. Due to challenges amid the coronavirus pandemic and permit delays, the work has taken longer than originally expected, the firm said, but added that a final process design flowsheet will be released in coming weeks, which will forecast, among other things, lower acid consumption than previously reported.

KWESST Micro Systems Inc (CVE:KWE) announced plans on Wednesday to list its shares on the OTCQB Venture Market, expanding its potential investor base to the US. In a statement, KWESST told shareholders that it believes that trading on the OTCQB will provide additional liquidity and increase its visibility within the US capital markets. The Ottawa-based technology company also said it had retained Hybrid Financial Ltd to provide marketing and corporate services for a six-month period that is automatically renewable on a three-month basis.

Clean Seed Capital Group Ltd (CVE:CSX) announced three recent corporate developments, which it says has expanded its agricultural intellectual property (IP) portfolio while also broadening its patent protection. Clean Seed Capital noted that it held an initial virtual launch of the SMART Seeder MAX-S technology at the Virtual Precision Agriculture Conference 2020, which can be viewed here: https://bit.ly/3frYnay. 

Killi Ltd (CVE:MYID) (OTCQB:MYIDF), a global leader in data and consumer privacy, said Wednesday that its balance sheet remains strong. The company said it recently banked $1.6 million from the exercise of 32 million common share purchase warrants. Killi made the announcement as it filed its financial statements as well as management discussion and analysis (MD&A) for the three- (third quarter) and nine-month period ending September 30. Killi also said it has added 25 million accounts to its backlog for a grand total of 55 million total available accounts.

Vox Royalty Corp (CVE:VOX) is acquiring a 1.75% gross sales royalty on Bushveld Minerals Limited’s (LON:BMN) high-grade vanadium project (Brits) in South Africa, it said Wednesday. The company has struck a deal with Sable Metals and Minerals Pty Ltd to acquire the royalty for US$2 million, giving it exposure to a near-term production asset located right next to Bushveld’s producing Vamteco mine and processing facility. In a note commenting on the Vox Royalty deal, Proactive analyst Ryan Long said: "Bushveld Minerals is an impressive operating partner for Vox to work with. Bushveld is one of only three primary vanadium producers globally and owns two of the world’s four operating primary vanadium processing facilities. Once closed, Vox's portfolio will contain 47 royalties, and we would expect Vox to continue to be aggressive when it comes to future acquisitions."

DGTL Holdings Inc (CVE:DGTL) (FRA:A2QB0L) revealed its plans on Wednesday to break into the lucrative social media sectors via its subsidiary Hashoff LLC. The New York-based firm said it plans to raise up to C$1 million to fund software development of Hashoff’s Software-as-a-Service (SaaS) technology platform to service popular apps like TikTok, Snapchat, Twitch, Triller, and Reels.

AgraFlora Organics International Inc (CSE:AGRA) (FRA:PU31) (OTCPINK:AGFAF) has acquired High-Performance Liquid Chromatography (HPLC) equipment for its 51,000-square-foot, fully automated edibles manufacturing facility in Winnipeg, Manitoba. The company said the addition of an Agilent HPLC driven analytical testing platform at the edibles facility will allow it to rapidly develop and launch new edibles products which have already been formulated.

PreveCeutical Medical Inc (CSE:PREV) (OTCQB:PRVCF) (FRA:18H) announced Wednesday the successful laboratory development of a cannabinoid Sol-Gel formulation (SARS-CoV-2 Sol-Gel) as a potential prevention and treatment for COVID-19. Independent scientific literature, the company noted, has reported that high CBD strains could potentially have beneficial properties for the prevention/treatment of the SARS-CoV-2 infection. 

Fury Gold Mines Limited (TSE:FURY) (NYSEAMERICAN:FURY) said it has begun the exploration phase of the ongoing 50,000-metre drill program at its 100% owned Eau Claire project in Quebec. The company said the current phase of the drill program, which involves approximately 12,000 metres of drilling, is designed to test a one-kilometre (km) down plunge extension of the Eau Claire deposit with the goal of significantly expanding the existing resource.

FansUnite Entertainment Inc (CSE:FANS) (OTCQB:FUNFF) announced that it has become an official member of the Canadian Gaming Association (CGA), the national trade association of the gaming industry in Canada. The sports and entertainment company, focusing on its technology related to regulated online sports betting and related products, said the membership became effective on November 24, 2020.

Alpine 4 Technologies, Ltd., (OTCQB:ALPP) owner of leading small market businesses, has officially welcomed Larry Zic as its VP/Corporate Controller. The group noted that Zic brings a wealth of knowledge and experience to the Alpine 4 leadership team. He received a double Bachelors in both Accounting and Computer Information Systems from St. Joseph College and his MBA from Indiana University and received his CPA before beginning his public accounting career at a regional Chicago based accounting firm.

American Resources Corporation (NASDAQ:AREC), a supplier of raw materials to the rapidly growing infrastructure market, revealed on Wednesday that it has formed a strategic advisory board to foster growth. The Fishers, Indiana-based company said the new board is “an informal committee” that will assist it in its overall development and growth as well as strengthening its specific industry footprints.

Phunware, Inc. (NASDAQ:PHUN) said it has engaged Stout Capital to monetize the company’s intellectual property (IP) portfolio, including both its patent and data assets. The company, which has a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, said Stout’s Intellectual Property Advisory & Transactions (IPAT) practice positions it as the only fully integrated team of investment bankers, valuation and dispute experts, attorneys and technical experts with the ability to execute a full spectrum of IP services required by IP-rich technology companies.

AIM ImmunoTech Inc (NYSEAMERICAN:AIM) (FRA:HXB2) said on Wednesday that it had achieved a milestone in its coronavirus (COVID-19) treatment and prevention efforts with the first patient dosed in a study evaluating its lead drug Ampligen as part of a combination treatment for patients with cancer and COVID-19. The Ocala, Florida-based company said that Roswell Park Comprehensive Cancer Center’s Phase 1/2a study evaluating the two-drug combo of AIM’s Ampligen and interferon alpha-2b as a potential early-onset treatment for patients with cancer and mild-to-moderate COVID-19 is “fully underway, with the first patient enrolled and treated on the study.”

AEX Gold Inc. (LON:AEXG) (CVE:AEX) has provided an update to its 2020 exploration drilling campaign at the Nalunaq property in South Greenland, saying the results are complementary to those reported in its news release of October 21, 2020. The London and Toronto-listed independent gold company, with a portfolio of gold licences in Greenland, said the drilling highlights of further results from the Valley Block infill drilling programme include 52.4 grams per ton (g/t) gold over 0.55 meters (m) from hole AEX2008 and 5.9 g/t over 0.5m from hole AEX2009, with visible gold observed in AEX2009.

Empower Clinics Inc (CSE:CBDT) (OTCPINK:EPWCF) (FRA:8EC) saw just over 5,000 patients visit its network of clinics during its third quarter, it reported Wednesday. Total revenue for the three-month period to end September came in at US$629,854 on 5,044 patient visits, coming in above Empower’s own expectations, given the challenges posed by COVID-related restrictions.

Codebase Ventures Inc (CSE:CODE) (FRA:C5B) OTCQB:BKLLF) announced Wednesday that its portfolio holding Arcology Network, a cluster-computing powered artificial intelligence (AI) blockchain company, is exploring a potential coin offering.  Codebase said its decision to explore a possible coin offering “is a natural step” following the results of its first Testnet, where the Arcology team achieved major product development milestones.

Mirasol Resources Ltd (CVE:MRZ) (OTCPINK:MRZLF) (FRA:M8R) reported encouraging results from surface exploration at the Sandra prospect at its Inca gold project in Chile and said a 1,500 metre (m) drill program was planned to start in the first quarter of 2021. At least five vein trends striking northwest, within a 2.5 by 4 kilometres (km) area have been mapped at the prospect, the company said, while vein trends extending over strike lengths of 1.2 km were identified, which were up to 3m wide.

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) (FRA:8PY) revealed that it has signed an initial contract to provide a high-powered, one megawatt plasma torch with accessories to a major iron ore producer for around $1.8 million. The Montreal-based high-tech company said the $1.8 million figure does not include continued after-sale services, which were not part of the initial negotiations. The client, which has committed to reduce its greenhouse gas (GHG) emissions, has over 10 plants, each possibly requiring up to 50 plasma torches, noted the company. “The first commercial sale is always the hardest in any industry. It’s not a secret that the ultimate goal is to replace their fossil fuel burners with our plasma torches,” said PyroGenesis CEO Peter Pascali.

ImagineAR Inc (CSE:IP) (OTCQB:IPNFF) (FRA:GMS1) announced Wednesday the signing of a two-year revenue partnership agreement with Real Sociedad of La Liga to provide its Augmented Reality SDK Platform for fan activation and engagement. This agreement makes Spain’s Real Sociedad the second La Liga football team to incorporate the platform to give fans a real AR experience, the Vancouver-based company said in a statement.

Aurania Resources Ltd (CVE:ARU) (OTCQB:AUIAF) (FRA:20Q)  told investors it is planning an airborne magnetotelluric (Mobile MT) geophysical survey at its Lost Cities - Cutucu project in Ecuador in early December this year. In a quarterly update, the explorer updated on recent exploration at the asset, which lies in the foothills of the Andes, saying three drill holes had now been completed on the Tsenken N2 target and two at the Tsenken N3 target.  Assays form three holes are expected shortly.

The Flowr Corporation (CVE:FLWR) (OTCMLTS:FLWPF) (FRA:2VX) reported that its 3Q 2020 net revenue surged 110% year-over-year to $2.8 million, with a 22% increase from 2Q, following a 144% jump in dried flower sold. The company noted that its corporate expenses (SG&A) fell 19% sequentially to $3.6 million as Flowr continued to see benefits of its global restructuring program announced in March 2020.  

Goldcore Resources Ltd. (CVE:GEM) (FRA:BK2P) said it has renamed its Graphite project located in Northern Quebec from the "Lac Gueret South Project" to the "Berkwood Graphite Project." The Berkwood Graphite Project is located in Northern Quebec and has a proven resource on it. Goldcore, previously named Berkwood Resources, announced on August 19th, 2019, a maiden Mineral Resource Estimate for Lac Gueret South, Zone 1, (now called Berkwood, Zone 1), based on drilling campaigns in 2017 and 2018 totalling 6,232.49 meters. It showed an Indicated Resource of 1.76 million tonnes (Mt) at a grade of 17.00% and an Inferred Resource of 1.53 Mt at a grade of 16.4%

Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) (FRA:1XMA) said it has completed the new access to its historic Kenville gold mine project in British Columbia and connected a new railway line to the tracks of the old underground mine. "The installation of the new portal culvert is now complete, providing access to the Kenville mine 257 level. The final stages included placement of back-fill, construction of a door on the outside of the culvert, an as-built survey, and installation of rail ties and track," the firm said in the statement. Ximen has refurbished the existing portal (entrance to the mine) so it can gain access to mineralization, which was outlined in a resource estimate of 2009. The precious metals explorer's release also included a picture of CEO Christopher Anderson hammering in a so-called "golden spike" connecting the new rail line with the 257 level tracks.

NexTech AR Solutions (OTCQB:NEXCF) (CSE:NTAR) (FRA:N29), a provider of virtual and augmented reality technologies said its subsidiary Map Dynamics is hosting the fully virtual 2020 Houston Ballet Nutcracker Market. The holiday event which kicked off on November 11 and runs through to December 11, includes nearly 150 merchants. In 2019 the Nutcracker Market, drew 107,240 customers who packed the NRG Center, spending over $20.4 million. As usual, 11% of merchandise sales from the virtual market will support Houston Ballet Foundation, its academy and scholarship programs. Despite the virtual component, organizers have kept it festive by roping in Map Dynamics to reimagine the annual event which typically draws shoppers to 150,000-square feet of retail and exhibition space. Map Dynamics has built an interactive, easy-to-navigate floor plan that enables attendees to browse exhibitors through the floor plan or by name, booth number or category. 

GGX Gold Corp. (CVE:GGX) (OTCQB:GGXXF) (FRA:3SR2) said it has arranged a non-brokered private placement of up to 2 million flow-through shares at a price of $0.16 per share for gross proceeds of $320,000. Proceeds from the private placement will be used for the continued exploration work on the Gold Drop Property in the Greenwood mining camp of south-central British Columbia.

Candelaria Mining Corp. (CVE:CAND) (OTCPINK:CDELF) said it has sold a 0.5% net smelter return royalty (NSR) on production from the Pinos Project to Empress Royalty Corp. for US$750,000. Empress has also purchased an additional 0.5% NSR from a previous royalty holder on the Pinos Project, for a total of a 1.0% NSR on the Pinos Project. The Pinos Project is subject to NSR royalties of 2.0% including the two NSR royalties held by Empress. Ramon Perez, President of Candelaria, commented, “We welcome Empress as a stake-holder in our Pinos Project, as we continue to work towards development of our Pinos Project.”

Gold Resource Corporation (NYSEAMERICAN:GORO) has declared its monthly instituted dividend of one-third of a cent per common share for November 2020 payable on December 23, 2020, to shareholders of record as of December 11, 2020.  Gold Resource Corporation, a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA, has returned $115 million to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery. 

GSRX Industries Inc. (OTCPINK:GSRX) said its wholly-owned subsidiary Project 1493, LLC has sold all of its Puerto Rican cannabis assets, and assigned all related liabilities, licenses and permits, to Puerto Rico Industrial Commercial Holdings Biotech, Corp. in exchange for total aggregate consideration of US$4,643,333, comprised of immediate net cash proceeds to GSRX of US$2,243,333, and monthly payments to be received in the amount of US$100,000 over a period of 24 months. The company noted that the Puerto Rico Department of Health has approved these transactions.

CanaFarma Hemp Products Corp. (CSE:CNFA) has announced that the Company appointed Urish Popeck & Co., LLC  as its new auditors effective November 18, 2020. The company said it will be working closely with Urish Popeck in order to file its audited annual financial statements for the year ended June 30, 2020, the related management's discussion and analysis the officer certifications and its unaudited interim financial statements for the three months ended September 30, 2020, and the related management's discussion and analysis and officer certifications as soon as possible. The company said it will provide further updates as to the expected timing of its Annual Filings and Q1 Filings.

Aftermath Silver Ltd (CVE:AAG) said that the acquisition agreement dated September 30, 2020, between the company and SSR Mining Inc., with respect to the acquisition of 100% of the Berenguela silver-copper project, located in Puno, Peru, through the direct and indirect purchase of 100% of SSR's shares in the Peruvian holding company, Sociedad Mineral Berenguela SA, has been amended by way of an agreement dated November 23, 2020. The consideration of US$13 million and 3,828,972 common shares has been amended so that the cash consideration has been reduced to US$12,725,000 and in lieu of the US$275,000 payment, 458,077 additional common shares will be issued for total consideration of 4,287,049 common shares.

OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for 11,000 US and global securities, has announced Irving Resources Inc (CSE:IRV) (OTCQX:IRVRF), a junior exploration company, has qualified to trade on the OTCQX Best Market and has today upgraded from the OTC Pink market. Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their US investors.  For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the US To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. "Irving Resources is delighted to be able to increase our presence in the US market by joining the OTCQX Best Market. American investors now have ready access to invest in the most exciting gold exploration company operating in Japan", commented Akiko Levinson, CEO and a director of Irving.

OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for 11,000 US and global securities, has announced that Cosmos Holdings Inc. (OTCQX:COSM), an international pharmaceutical company, has qualified to trade on the OTCQX Best Market and has today upgraded from the OTCQB Venture Market. Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their US investors.  For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the US To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. "Trading on the OTCQX is a key step in our growth plan to make Cosmos Holdings, Inc. a truly global company," said Greg Siokas, CEO of Cosmos Holdings, Inc. "We believe the OTCQX Market will enhance our visibility to U.S. investors. We are confident trading on OTCQX will help us expand our shareholder base, broaden our exposure and increase our liquidity. This is a terrific day for the company, and I'm proud of our team for making this happen."

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