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NA Proactive news snapshot: Vuzix, International Montoro Resources, Versus Systems, CytoDyn 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

Vuzix Corporation (NASDAQ:VUZI) will be participating as a speaker in Verizon Communications Inc's (NYSE:VZ) upcoming event, "5G Innovation Sessions; Advancing the Mission of the DOD," at 2 pm ET on Wednesday, the company announced. In an hour-long session, Verizon will explain why 5G matters to the US Department of Defense, how it can help securely shape missions and discuss defense-focused use cases. During the session, Vuzix will provide an overview of its products and share thoughts on how 5G and mobile-edge computing can deliver new tools and real-time capabilities by processing on the edge and rendering them to the heads-up display of smart glasses. After the session, attendees can explore various defense use cases made possible with 5G, including AR workforce solutions from Vuzix, the company said. Registration can be done at https://enterprise.verizon.com/resources/events/public-sector-5g-innovation-session/. "We're excited about this opportunity to collaborate with Verizon and support the Department of Defense with innovative Vuzix Smart Glasses-based AR workforce solutions that will help solve real operational challenges," CEO Paul Travers said.

International Montoro Resources Inc.nbsp;(CVE:IMT) (OTCPINK:IMTFF) (FRA:O4T1) announced that the TSX Venture Exchange has approved its change of name from International Montoro Resources Inc. to Marvel Discovery Corp. The company will begin trading under its new name and new trading symbol (CVE:MARV) on Wednesday, February 24, 2021. The new CUSIP and ISIN numbers are 57383V108 and CA57383V1085, respectively. Upon completion of the name change, the company's new website will be found at marveldiscovery.ca. Karim Rayani, the company's president & chief executive officer, commented: "We are thrilled with the new branding of our company signifying a new beginning. We are most excited with what the future has awaiting for our shareholders as we lay out our plans for 2021 in the coming weeks."

Versus Systems Inc (NASDAQ:VS) (CSE:VS) (FRA:BMVB) has announced plans to withdraw its common shares from listing on the Canadian Securities Exchange effective February 25, 2021. Versus’ common shares have been traded on the CSE since 2016 under the symbol VS, the same as its Nasdaq symbol. Following the recent listing of its shares on the Nasdaq, the company has decided to withdraw from the CSE. Versus will continue to trade on the Nasdaq Capital Market under the symbol VS and on the Frankfurt stock exchange under the symbol BMVB and will continue to be a Canadian Reporting Issuer.

CytoDyn Inc (OTCQB:CYDY) announced Monday that study results have been unblinded from the CD12 trial of its drug Vyrologix (leronlimab or PRO-140) in coronavirus (COVID-19) patients, and the company will reveal them once discussions with regulators are complete. The Phase 2b/3 trial enrolled 394 severe-to-critical COVID-19 patients, who were randomized to receive either 700 milligrams of Vyrologix or a placebo once a week by injection. The primary outcome measured is linked to mortality at day 28, the company has said previously. There are secondary outcomes measured by mortality at day 14, change in clinical status at day 14, change in clinical status of the subject at day 28, and change from baseline in Sequential Organ Failure Assessment (SOFA) score at day 14. 

GR Silver Mining Ltd (CVE:GRSL) (FRA:GPE) (OTCQB:GRSLF) announced Monday the first-ever ground geophysical program on the San Marcial Project in Sinaloa, Mexico. The company said the program is centered on the San Marcial Resource Area and will incorporate a 3D Induced Polarization (IP) survey as well as ground magnetometry. And the survey is scheduled to cover an area of about 8.1 kilometers (km), or about 64% of the concession area. 

Mountain Valley MD Holdings Inc (CSE:MVMD) (OTCQB:MVMDF) announced Monday that it will start testing the South African coronavirus (COVID-19) variant in an upcoming study analyzing viral clearance efficacy with its solubilized Ivermectin technology. Mountain Valley CEO Dennis Hancock said it was “critical” to look at the new South African variant given the complexities of vaccine rollout and the high probability that current vaccines may not be effective against emerging mutations. "It is important to us across our broad human health objectives that our solubilized Ivermectin technology can be confidently applied as the broadest COVID-19 therapeutic and number one choice in the world when a vaccine falls short,” Hancock told shareholders in a statement.

Empress Royalty Corp (CVE:EMPR) (OTCQB:EMPYF) announced Monday that it has added a new royalty on a prospective gold project in Mozambique. The royalty company revealed it acquired a 2.25% production royalty on the Manica gold project owned by Mutapa Mining & Processing LDA (MMP) for US$2 million. Manica is located in the Odzi-Mutare-Manica greenstone belt and comprises several deposits on Xtract Resources PLC’s (LON:XTR) (FRA:R9XN) mining concession licence 3990C, which includes four deposits. The main deposit, Fair Bride, has a SAMREC-compliant resource statement that Empress is currently in the process of updating to NI 43-101 requirements. 

Gevo Inc (NASDAQ:GEVO) (FRA:ZGV3) announced Monday that Scandinavian Airlines System’s (SAS) minimum purchase obligation for its sustainable aviation fuel (SAF) has increased to 5 million gallons annually, after the parties signed an amendment to their fuel sales agreement.  With the deal amended, Gevo expects to supply SAS with SAF starting in 2024, from its Net-Zero 2 Project for the use and distribution in low carbon fuel regions of the US. The value of the agreement, as amended, is estimated at more than $100 million over its term, including related SAF and environmental credits. Gevo and SAS signed the original fuel sales agreement in October 2019, the company said. 

KushCo Holdings Inc (OTCQX:KSHB), provider of ancillary products and services to the legal cannabis and CBD industries, has reached a potentially $40 million deal with investors for the purchase and sale of more than 24.2 million shares of common stock, as well as warrants to buy nearly 9.7 million more, the company announced Monday. The shares and warrants will have a combined offering price of $1.65 per share pursuant to a registered direct offering, the company said, and the warrants will be exercisable at $2 per share with a purchase window of five years. KushCo plans to use the net proceeds to pay down its debt and for general corporate purposes, including, working capital, product development, acquisitions, capital expenditures and other business opportunities. The registered direct offering is expected to close by Wednesday, the company said.

Progressive Planet Solutions Inc. (CVE:PLAN) has announced Monday the appointments of Randy Gue and Chris Halsey-Brand to the company's advisory board. "These appointments are a continuation of our goal to add significant depth and experience that will expedite the commercial launch of new technologies to reduce the large carbon footprint associated with cement production," said CEO Stephen Harpur in a statement. “Randy and Chris each bring outstanding expertise that will help us guide the Company through its next stage of growth.”

Melkior Resources Inc (CVE:MKR) (OTCMKTS:MKRIF) (FRA:MEK1) will kick off a 1,500 metres (m) maiden drill program at its Val-d'Or project in Quebec in early March this year, having secured a drill and defined the key targets. The work will focus on the western extension of the so-called "Vein Zone" area, which is being explored by Eldorado Gold Corp (TSE:ELD)  (NYSE:EGO) (FRA:ELO1) and where, in 2018/19, mineralization was uncovered along a 250m strike to a depth of 125m. 

Northstar Gold Corp (CSE:NSG) said it has closed the second and final tranche of its previously-announced C$2.7 million non-brokered private placement equity financing for gross proceeds of C$287,568.15. The company said the flow-through funds will be used for exploration at its flagship Miller Gold Property and Bryce Gold Property located near Kirkland Lake, Ontario, while money from the non-flow-through component will also be used for exploration work on the Miller Gold Property and for general working capital purposes. Northstar added that the offering was over-subscribed and was comprised of 22,088 flow-through units for a total of $7,068.15 and 1,122,000 non-flow-through units totalling $280,500.

Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) (FRA:3GE) said the next phase of drilling has begun at the Carrickittle prospect at its PG West zinc project in the Republic of Ireland.  The mineral exploration company said mobilization began on February 19, with a total of around 400 meters (m) of drilling planned at Zone 2, an area with “significant historical intercepts”. 

Vox Royalty Corp (CVE:VOX) (OTCMKTS:VOXCF) announced that it has agreed to acquire a Western Australian gold royalty portfolio from Gibb River Diamonds Ltd for A$325,000 in cash. Vox noted that the transaction will expand its total Australian royalties to 31, making the company the second-largest publicly traded holder of royalty interests in Australia by royalty count, behind Franco Nevada Corporation (TSE:FNV) (NYSE:FNV) (FRA:3FO).  The company said the gold royalty portfolio will give it exposure to three advanced exploration gold royalties in Western Australia, each located within trucking distance of third-party mills.

Nerds On Site Inc (CSE:NERD) (FRA:3NS.F) (QTCQB:NOSUF) said it has reached an agreement with a major Canadian technology partner toward a joint offering within the small, medium enterprise (SME) space. In an interim corporate update released following a recent appreciation in its share price, the mobile IT solutions said the offering will focus on the provision of tech consulting, cybersecurity, and managed services.

Real Luck Group Ltd (CVE:LUCK) (OTCMKTS:LCKKF) said it has appointed Nevzat Ucar as its new head of content. The esports betting provider said Ucar will play a leading role in marketing and be responsible for driving its global content strategy.

XPhyto Therapeutics Corp.(CSE:XPHY) (OTCQB:XPHYF) (FRA:4XT) is eying an initial sales launch in Europe of its coronavirus (COVID-19) RT-PCR test system (Covid-ID Lab) in April this year, it said Monday, reporting it has now established a commercial team.  Covid-ID Lab is said to be a rapid, accurate test and was developed by XPhyto's exclusive German diagnostics development partner, 3a-diagnostics GmbH (3a). The latter is expected to receive ISO 13485 medical device manufacturer approval by the end of February and European regulatory approval as a commercial in vitro diagnostic device (CE-IVD) for Covid-ID Lab by early March this year.

Elys Game Technology Corp (NASDAQ:ELYS) (NEO:ELYS) (FRA:3UW) announced Monday that it has extended its strategic partnership with Sportradar ahead of the launch of its sports betting platform in the US. Under the terms of the new agreement, Elys said it will gain access to official pre-game and in-play data for major US sports from Sportradar, the leading global provider of sports betting and sports entertainment products and services. Elys noted that the new partnership affords the company the ability to offer a wide array of live, in-game wagering options at its planned future US retail sports betting locations, commencing in Washington DC, with an expected launch in the coming months.

Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) has reported further encouraging exploration results from its Providence project in British Columbia, including a drill intercept of 178 grams per ton (g/t) silver over a length of 0.7 metres (m) from a depth of 96.77m. The company drilled six holes last year over 1,172m at the property and results have been received from five. Elevated silver results in the second and third holes are considered "promising for a potential extension of the Providence vein to the northeast of the historic Providence mine, which was a prolific silver producer," Ximen said. Another highlight assay showed 94.9 g/t of silver over 0.83m starting from a depth of 111.73m.

GoviEx Uranium Inc (CVE:GXU) (OTCQB:GVXXF) (FRA:7GU) has welcomed Salma Seetaroo and Eric Krafft to its board of directors, replacing Matthew Lechtzier and the Hon. Robert Hanson, who have retired.  "As we now look forward to a strengthened uranium market and the potential development of our uranium projects, we are very pleased to have Salma and Eric, who have been long acquainted with the company, join our board to complement the existing GoviEx team, bringing with them their particular skillsets and considerable experience in commodities, financing, investment banking and Africa," said Daniel Major, chief executive of GoviEx in a statement. 

Nano One Materials Corp (CVE:NNO) (OTCPINK:NOMF) (FRA:LBMB) has reported that its proprietary technology is performing well in tests aimed at developing solid-state batteries under its collaboration with the University of Michigan. The benefit of solid-state batteries is they replace flammable liquid electrolytes with a solid interface between the cathode and the anode. The company has a number of test programs currently underway with industry and academia to test its lithium nickel manganese cobalt oxide (NMC) and high voltage spinel (HVS) in different solid-state battery systems.

Nova Royalty Corp. (CVE:NOVR) (OTCQB:NOVRF) said it has completed its previously announced acquisition from RCF VI CAD LLC, an affiliate of Resource Capital Funds VI L.P. of an existing net smelter return (NSR) royalty of 0.98% on open pit operations and 0.49% on underground operations on the San José 1/3000 exploitation concession that forms part of the Vizcachitas Project in Chile , which is 100% owned by Los Andes Copper Ltd.  Transaction terms included US$6.5 million in cash, which was paid on closing and up to US$9.5 million in common shares of Nova as disclosed in the news release dated February 10, 2021. Nova also noted that it holds an existing 2.0% NSR on future copper production on the Cantarito claim of the La Fortuna deposit which is one of the two deposits comprising the NuevaUnion project in the Huasco Province in the Atacama Region of Chile being advanced by Teck Resources Limited and Newmont Corporation. The acquisition was completed as a joint venture with Metalla Royalty & Streaming Ltd. with the two companies having formed a special purpose vehicle to hold the Cantarito royalty. Nova paid US$2.25 million in cash on closing on February 18, 2020, and has paid US$0.75 million in cash that was due 12 months after closing.  There will also be a US$3 million payment due from Nova at commercial production from the Royalty, to be paid equally in cash and common shares.

Alpine 4 Holdings, Inc. (OTCQB:ALPP), a leading operator and owner of small market businesses, has announced plans to retire $12.8 million in both short and long term debt in its first-round debt payoffs. Kent Wilson, CEO of Alpine 4 commented: "From the beginning, we built the company on a Leverage Buy-Out model. We did this to maintain the integrity of our equity and avoid having a multibillion share, share structure. I always knew that our PPS would grow to a point where our cost of equity would become attractive and allow us to transition away from debt. Our reduction of this debt will give Alpine 4 and our subsidiaries a unique competitive advantage by allowing for; better-purchasing practices, reducing our overhead burden, and ultimately leading to enhanced profitability. Subsequently, this competitive advantage will also drive larger revenue and profit back to our subsidiaries, strengthening our balance sheet allowing the company to invest in value-added opportunities. Needless to say, we are very excited at Alpine 4 on what this payoff means for us as a company and look forward to the fruits it will bear."

Lucky Minerals Inc. (CVE:LKY) (OTCPINK:LKMNF) (FRA:LKY) said it has completed the second tranche of its private placement for gross proceeds of $464,800. The second tranche closing comprised 5,810,000 units at a price of $0.08 per unit. Each unit consists of one common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder to purchase one share at a price of $0.15 exercisable until February 19, 2023. The company has raised a total of $2,448,448 under the two tranches of the offering. The net proceeds of the second tranche of the offering will be used for exploration on the company's Fortuna Project in Ecuador and general working capital. All securities issued in connection with this second tranche closing are subject to a hold period of four months plus a day, expiring June 20, 2021 in accordance with applicable securities legislation. In connection with the second tranche of the offering, the company paid finder's fees consisting of a cash commission of $19,684 and 246,050 compensation warrants. Each compensation warrant is exercisable into one share at $0.08 per share until February 19, 2022.

Soma Gold Corp. (CVE:SOMA) (OTCQB:MAGF) said the TSX Venture Exchange has accepted the company's notice to make a normal course issuer bid to purchase for cancellation up to 2,201,680 common shares in the company in total, being 10% of the public float or 5.5% of the issued and outstanding common shares. The bid will commence on February 25, 2021, and will terminate on February 24, 2022, or such earlier time as the Bid is completed or terminated at the option of the company. Purchases under the bid will be made by Haywood Securities Inc. on behalf of the company. Soma said its board of directors believes that the underlying value of the company may not be accurately reflected at times in the market price of the Common Shares. Accordingly, the purpose of the bid is to enhance long-term shareholder value through the purchase and cancellation of common shares at a discount to the underlying value. Furthermore, it added, the purchases by Soma will help mitigate the dilutive effects of any future potential issuances of additional common shares as consideration for capital raises, joint ventures or asset acquisitions.

PyroGenesis Canada Inc. (TSX:PYR) (OTCQB:PYRNF) (FRA:8PY), a company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, has announced that P. Peter Pascali, its CEO and chair will present at the prestigious 7th Annual Gabelli & Company Waste Services Symposium being held virtually on Thursday, March 18, 2021, at 1.45pm ET. “It is indeed an honor to be asked again to present at this distinguished conference,” commented Pascali. “I look forward to the event, and presenting to both existing and prospective investors, as well as to members of the environmental services industry.” Anyone interested in attending the event can through the following link: https://gabelli.zoom.us/webinar/register/WN_4EMucHySQOeORDE4Omw8dg.

Bam Bam Resources Corp. (CVE:BBR) said it has granted 50,000 restricted share units (RSUs) to each officer and director of the company, for an aggregate total of 300,000 RSUs. The RSUs are valid for a one-year term, and are subject to a hold period of four months and one day expiring on June 20, 2021. The RSUs are governed by the company's RSU plan, approved by the company's shareholders on December 2, 2019.

Loop Insights Inc (CVE:MTRX) said the TSX Venture Exchange has accepted for filing documentation relating to an asset purchase agreement dated February 16, 2021, between the company and Digital2Go Media Networks Inc., a global location data intelligence company, whereby Loop has acquired certain intellectual property assets from the vendor. Under the terms of the agreement, the company will issue 166,250 common shares at a deemed value of $1.20 per share to satisfy the $199,500 purchase price.

XPhyto Therapeutics Corp. (CSE:XPHY) (OTCQB:XPHYF) (FRA:4XT) late on Friday made comments regarding a claim made against Vektor Pharma TF GMBH , one of the corporation's German subsidiaries. XPhyto noted that Vektor is subject to a declaratory action made by a former client and current competitor in relation to alleged breach of the terms of a development agreement. The claimant has estimated its alleged damages at 1 million Euros. Vektor and management of the corporation believe the claim is substantially without merit and intend to defend the claim vigorously. Vektor has filed a notice of defense in the respective German court. In the event that a court finds Vektor to be liable for damages, even in the amount estimated by the claimant, such judgment is not expected to have a material adverse effect on the business or affairs of Vektor or the corporation. The corporation said it will provide further updates as the action progresses.

Delta 9 Cannabis (NASDAQ:VRNDF) has said it will be presenting at the Benzinga Cannabis Capital Conference taking place on February 25-26, 2021. To sign up to get a free spectator pass for the event, shareholders should use the following link: https://events.benzinga.com/ccc-free-registration. The conference will feature an interactive forum of live presentations from top CEOs, investors, and leaders in the cannabis space. Don't miss this opportunity to connect with the cannabis movers and shakers from across the globe.

Mandalay Resources Corporation (TSX:MND) (OTCQB:MNDJF) has announced that its fourth-quarter and full-year 2020 financial results will be released after the market close on February 25, 2021. It will be followed by a conference call with Dominic Duffy, president and chief executive officer of Mandalay, for investors and analysts on February 26, 2021, at 8.00am Toronto time. Dial-in numbers: Participant Number (201) 689-8341; Participant Number (Toll free) (877) 407-8289; Conference ID: 13716917. A replay of the conference call will be available until 11.59 pm Toronto time on March 12, 2021, and can be accessed using the following dial-in number: Encore Toll Free Dial-in Number (877) 660-6853; Encore ID: 13716917.

OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for 11,000 U.S. and global securities, has announced that DecisionPoint Systems, Inc. (OTCQX:DPSI), a leading provider and integrator of enterprise-grade wireline, mobility and wireless application solutions, has qualified to trade on the OTCQX Best Market. Trading on the OTCQX Market offers companies efficient, cost-effective access to the US capital markets. Streamlined market requirements for OTCQX are designed to help companies lower the cost and complexity of being publicly traded, while providing transparent trading for their investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. "We're excited to trade on the OTCQX Best Market, this is a noteworthy step for DPSI and represents another milestone in our growth and evolution. On behalf of all our associates nation-wide, we'll work hard and are optimistic we can deliver increased enterprise value to our existing and future shareholders", said Steven Smith, CEO Decisionpoint Systems.

Virtual Investor Conferences, the leading proprietary investor conference series and co-sponsor Amvest Capital, has announced that the presentations from the February Metals & Mining Virtual lnvestor Conference are now available for on-demand viewing via the following link: https://bit.ly/3siwpUf. The company presentations will be available 24/7 for 90 days. Investors, advisors and analysts may download shareholder materials from the "virtual trade booth" for the next three weeks.  A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group Inc.'s (OTCQX:OTCM) suite of investor relations services specifically designed for more efficient Investor Access.  Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

Proactive Research has issued a note on Tracesafe Inc (CSE:TSF). Analyst Ed Stacey concludes: “ Overall, we argue that TraceSafe has now completed its strategic aim of validating the technology in service across multiple safety-critical operating environments. For 2021 we believe the focus will be on continuing to grow revenues within existing market spaces, adding new verticals, and continuing to grow the software element of the revenue base.”

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