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NA Proactive news snapshot: American Manganese, Acasti Pharma, HighGold Mining, Northstar Gold, Heritage Cannabis UPDATE...

Last updated: 17:00 23 Dec 2020 EST, First published: 10:00 23 Dec 2020 EST

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American Manganese Inc (CVE:AMY) (OTCPINK:AMYZF) (FRA:2AM), the lithium-ion battery recycling company, confirmed Wednesday that its management team is unaware of any material change in the company's operations that would account for the recent increase in market activity. This was done at the request of the Investment Industry Regulatory Organization of Canada (IIROC). Shares traded 11.8% lower at C$0.48 in Toronto on Wednesday afternoon.

Acasti Pharma Inc (NASDAQ:ACST) (CVE:ACST) issued a statement Wednesday saying its management and Board of Directors are unaware of any material change in the company’s operations that would account for the recent increase in market activity. This was done at the request of the Investment Industry Regulatory Organization of Canada (IIROC). Shares of Acasti were trading around 70% higher on Wednesday at the close in Canada and 72% higher on the Nasdaq.

HighGold Mining Inc (CVE:HIGH) announced Wednesday it has closed a $3.7 million financing to advance its portfolio of high-grade gold projects in Ontario. The company issued 1.5 million shares on a flow-through basis, which may be gifted or sold by the initial purchaser at a price of C$2 per flow-through share for total gross proceeds of up to $3 million. It raised an additional $700,000 by issuing another $350,000 flow-through shares priced at $2 under a shareholder’s participation exercise, bringing the total proceeds to $3.7 million. 

Northstar Gold Corp (CSE:NSG) (OTCMKTS:NSGCF) has closed the first tranche of a C$2.7 million financing to fund exploration at its flagship Miller gold project in Kirkland Lake, Ontario, it announced Wednesday. The first tranche of the non-brokered private placement consisted of nearly 4.3 million flow through units grossing C$1,381,200 and an additional 4.1 million non-flow-through units totaling C$1,034,375 for gross proceeds of around C$2.4 million. Under the term sheet, the flow through units were priced at C$0.32 and comprised of one flow through share and one-half of one non-flow-through warrant exercisable at C$0.45 for an 18-month period. The non-flow-through units were priced at C$0.25 and comprised of one share and one-half warrant exercisable at C$0.40 for an 18-month period.

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) announced a definitive agreement Wednesday to acquire Canada-based recreational and medical cannabis company Premium 5 Ltd in a stock transaction. Premium 5 creates high-quality full spectrum concentrates and introduced one of the first hydrocarbon products in the Canadian market. Heritage will pay Premium 5 C$21 million in common shares, plus additional shares to compensate the Premium 5 shareholders for net working capital, the company said. The agreement also includes a series of revenue growth and gross margin milestones over the next 24 months that could allow Premium 5 to earn an additional C$20 million in Heritage shares.

Bam Bam Resources Corp (CSE:BBR) (OTCPINK:NPEZD) updated on drilling progress at its flagship Majuba Hill property in Nevada on Wednesday, the results of which it expects to lead to a 'solid' maiden NI 43-101 resource. As reported in October this year, a second phase of deep core drilling is now underway at the project and today, the group said 2,591 feet (790 meters) have now been submitted to the lab for analysis. The remaining 2,329 feet (709.6 meters) is expected to be submitted by year's end and assay results from deep core drilling are expected to be complete before the end of the first quarter of 2021.

Mirasol Resources Ltd (CVE:MRZ) (OTCPINK:MRZLF) (FRA:M8R) said Wednesday it intends to remain independent and focused on its current plan after receiving "multiple unsolicited expressions of interest" from third parties wanting to buy the company in recent weeks. The unsolicited expressions of interest have been from those wanting to buy the firm on an "at-market zero-premium basis", the company added. "The board of Mirasol has given careful consideration to these expressions of interest and has determined that it is in the best interest of shareholders that the company remain independent and focused on its current business plan," it said in a brief statement.

BetterLife Pharma Inc (CSE:BETR) (OTCQB:BETRF) (FRA:NPAU) revealed on Wednesday that Patrick Kroupa and Justin Kirkland, two industry leaders in psychedelic therapeutics, have joined the biotech company's management team. Kroupa will join the Vancouver-based company as Chief Psychedelics Officer, while Kirkland will be the Chief Psychedelics Scientist. “BetterLife welcomes Patrick and Justin to our senior leadership team. Their experience in psychedelics in the fields of health and wellness will be valuable assets for Betterlife, helping solidify our place as leaders in this fast-growing industry,” said BetterLife CEO Dr Ahmad Doroudian in a statement.

Victory Resources Corporation (CSE:VR) (OTCMKTS:VRCFF) (FRA:VR62) is poised to start a work program in January in Nevada, USA after it struck an option deal with Silver Range Resources Ltd (CVE:SNG) (OTCMKTS:SLRRF) (FRA:8SR) on its Loner property. The company can acquire an 80% interest in the asset over four years by paying U$140,000 in cash and U$260,000 in cash and shares. The asset lies in the southern Sonoma Range and currently comprises 16 claims covering historic workings and exposed low-sulphidation gold mineralization. 

Todos Medical Ltd (OTCQB:TOMDF) revealed that it has struck a preferred vendor agreement to supply COVID-19 testing products and services to Natural Wellness Clinics (NWC) for use in its efforts in testing the uninsured population in the Commonwealth of Kentucky. NWC is a US military veteran-owned health care provider that enjoys a niche in implementing large-scale testing programs and logistics for state governments that it hopes may dovetail into vaccine distribution logistics. NWC recently signed a COVID-19 testing contract for up to nearly $93.4 million with the Commonwealth of Kentucky to test uninsured citizens. Continued funding was anticipated, however, budget concerns have impacted the initiative. In light of the changes in funding for COVID-19 testing for states governments across the US, Todos is working with Kentucky to identify the appropriate funding mechanisms that will allow this testing program to move forward.

Adastra Labs Holdings Ltd (CSE:XRTX) (FRA:D2EP) announced Wednesday it has signed a term sheet to purchase a majority stake in Phyto Extractions Brands, a BC-based company with a portfolio of cannabis concentrate products. The deal, which was first announced in October, sees Adastra acquiring a 51% controlling interest in Phyto, along with a right of first refusal for the remaining 49% of the company. The term sheet, which sets the number of Adastra consideration shares to be paid, is non-binding and a definitive agreement is in the works to acquire all of Phyto’s assets, according to Adastra.

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) (FRA:N29) has launched a human hologram augmented reality (AR) marketing platform, “Genie in a Bottle,” for its TruLyfe brand of supplements. Customers who purchase select immune-boosting supplements from the new TruLyfe online store can scan a QR code on the bottle to trigger the appearance of a 3D human hologram of a registered dietitian on the supplement bottle cap. The holographic dietitian will describe the nutrition information and overall product benefits.

ImagineAR Inc (CSE:IP) (OTCQB:IPNFF), an augmented reality company that enables businesses to create instant AR campaigns, told investors on Wednesday that it logged its best calendar year performance in 2020, with a record $775,000 in executed contracts. The Vancouver-based technology company said it set records in two key performance indicators (KPI), which included $775,000 in executed contracts and bringing in around $6 million through total proceeds from financing. “Confidence in our augmented reality abilities was demonstrated by the capital markets with ImagineAR receiving record proceeds from financing in 2020 of approximately $6,000,000, including approximately $4.5 million from the exercise of warrants over this summer,” said the company. As a result, ImagineAR said it is "well-financed for growth to the end of 2021."

Revive Therapeutics Ltd (CSE:RVV) (OTCMKTS:RVVTF) (FRA:31R) announced Wednesday that the company is on pace to meet the enrollment goals for its Phase 3 trial of bucillamine in mild-to-moderate cases of the coronavirus. There are currently nine clinical sites participating in the study, with an additional six more clinical sites joining in January to satisfy the overall enrollment goal of up to 1,000 patients. Hitting enrollment goals allows the independent Data and Safety Monitoring Board (DSMB) to review safety and efficacy data from the first 210 patients, as part of an interim analysis of patients treated and followed up for 28 days after randomization. Following the DSMB review, the company plans to file for an Emergency Use Authorization of Bucillamine for mild-to-moderate COVID-19 with the FDA. In November, the FDA granted two such EUAs for coronavirus treatments.

Progressive Planet Solutions Inc. (CVE:PLAN), an emerging leader in the commercialization of natural pozzolans to reduce the carbon footprint of cement production, announced that it has engaged The Howard Group Inc as its investor relations communications advisor to direct both traditional and online initiatives targeting the investment community and retail investing groups. The agreement is for one-year commencing December 22, 2020, and the total remuneration payable to The Howard Group will be $87,000 plus GST. In addition, The Howard Group will be granted options under PLAN's incentive stock option plan to acquire five hundred thousand (500,000) common shares of the company with the exercise price equal to the closing price of PLAN's shares on December 23, 2020, or $0.10 per share, whichever is greater. These options have a term of three years and will vest quarterly over the one-year term. The Howard Group intends to invest in 350,000 units of the hard dollar private placement announced by PLAN on December 21, 2020, for a total of $35,000.

Helix BioPharma Corp (TSE:HBP) (OTCMKTS:HBPCF) (FRA:HBP), the clinical-stage biopharma, told investors it had now closed its previously announced transaction with CAIAC Fund Management AG (CAIAC) to divest its remaining holdings in its Polish subsidiary, for gross proceeds of PLN 6.7 million (C$2.308 million). As announced on November 9 this year, Helix signed a definitive agreement with CAIAC to purchase Helix's remaining holdings in the subsidiary Helix Immuno-Oncology S.A (HIO).

Arizona Silver Exploration Inc.(CVE:AZS) (OTCMTS:AZASF) said the non-brokered private placement it announced on December 10, 2020, was oversubscribed and has now closed. The placement was originally announced for 4,714,286 units and proceeds of $1,650,000 but was increased to 4,899,382 units for gross proceeds of $1,714,783 to accommodate additional subscribers. Each unit in the placement is comprised of one common share and one-half of a common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the company at a price of $0.55 for five years following closing.

Hannan Metals Ltd (CVE:HAN) said the TSX Venture Exchange has accepted for filing an option and joint venture agreement dated November 27, 2020, between the company and Japan Oil, Gas and Metals National Corp. (Jogmec), whereby Jogmec has the option to earn up to a 75% beneficial interest in the company's 100%-owned San Martin project, located in Peru, by spending up to US$35 million to deliver to the joint venture a feasibility study.

Global Energy Metals Corp (CVE:GEMC) said the TSX Venture Exchange has accepted for filing the company's proposal to issue 277,020 shares at a deemed price of 27.5 cents per share to settle outstanding debt for $76,180 with five creditors.

Gungnir Resources Inc. (CVE:GUG) said that shareholders approved all the resolutions put before them at the company's Annual General Meeting held on Tuesday, December 22, 2020, in Surrey, British Columbia. The group's board of directors said they would like to thank the shareholders for their ongoing support.

Great Panther Mining Limited (TSX:GPR) (NYSEAMERICAN:GPL) announced that it has filed a technical report for its 100%-owned Guanajuato Mine Complex (GMC) in Mexico. The new technical report entitled "NI 43-101 Mineral Resource Update Technical Report on the Guanajuato Mine Complex, Guanajuato and San Ignacio Operations, Guanajuato State, Mexico" supports the company's updated Mineral Resource estimate for the GMC announced on November 23, 2020. As previously disclosed, Great Panther has been working with permitting authorities to expand the capacity of its existing GMC tailings storage facilities (TSF). In parallel, the company has completed its review to identify technical alternatives to extend its tailings storage capacity utilizing existing permits and has begun modifying the tailings discharge using cyclones to extend the tailings capacity until June 30, 2021. This will allow more time for receipt of the pending expansion approval; however, if the expansion approval of the TSF has not been received prior to June 30, 2021, the company said it may need to cease milling operations at the GMC until receipt of the CONAGUA expansion approval.

OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for over 11,000 US and global securities, has announced that West Vault Mining Inc. (CVE:WVM) (OTCQX:WVMDF), a company focused on gold development properties in North America, has qualified to trade on the OTCQX Best Market and has today upgraded from the OTCQB Venture Market. 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. "We are proud to join OTCQX, which signals our commitment, as a USA-focused gold company, to providing our investors with timely news and information to help them better analyze, value and trade our securities," said R. Michael Jones, president & CEO of West Vault Mining. Founded in 2010, West Vault Mining is focused on advancing the Hasbrouck Project in Tonopah, Nevada. The company owns 100% interest in, and a 1.1% net smelter return royalty over, the Hasbrouck Gold Project.

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