NA Proactive News snapshot: Klondike Gold, Chemistree Tech, Ximen Mining - UPDATED

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

Newspaper press
Your daily round-up from the world of Proactive

Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) said it has begun a new drilling program at a highly prospective zone on the company’s Klondike District Property in Yukon. The Vancouver-based company is planning to drill between 15 and 20 holes at the Lode Star Zone, where two holes drilled in 2018 intersected extended lengths of near surface gold mineralization.

Chemistree Technology Inc (CSE:CHM) (OTCMKTS:CHMJF) announced Monday that through a wholly owned US subsidiary, it has finalized its investment in Applied Cannabis Sciences (ACS) of New Jersey. The completion of the investment comes as ACS, Chemistree's new partner, gears up to submit applications for licenses under the state’s new marijuana plan.

Ximen Mining Corp (CVE:XIM) told shareholders Monday that it plans to pour the first metal bar at its Kenville gold project by the end of 2019. The Vancouver-based company updated investors on its plans to start building a decline at the historic Kenville mine in order to initiate a 10,000-ton bulk sampling program on the project.

Haywood Capital Markets has reiterated a Buy rating an $3.50 target price on WeedMD Inc (CSE:WMD) shares following a recent site visit, saying it views the firm “as undervalued when compared to its peer group”.

CUI Global Inc's (NASDAQ:CUI) wholly owned energy subsidiary, Orbital Gas Systems, revealed Monday that it has won a purchase order valued at more than $900,000 (£730,000) under an existing pact with a major UK gas network operator. Orbital Gas Systems, which has offices in the United Kingdom and Houston, Texas, said it will undertake the “service, repair and calibration of equipment” installed at 23 of the gas operator's sites in the UK for a year.

BioLargo Inc's (OTCQB:BLGO) engineering subsidiary has been awarded a subcontract to provide air quality environmental engineering services to five US Air Force bases in Texas and Arizona. The Westminster, California-based company said its subsidiary BioLargo Engineering, Science & Technologies, has inked “teaming agreements” with Bhate Environmental Associates Inc, who is the prime contractor. Monday's contract win has materialized from the ongoing partnership. The company said the value of the contract awarded to Bhate exceeds $12 million over a five-year term, and the subcontractors will receive a portion of the contract with the first year payment guaranteed.

Humanigen Inc (OTCMKTS:HGEN) has a new tool in its box to prevent graft-versus-host disease when treating patients with leukemia and other blood cancers. The Burlingame, California-based company announced Monday that it has received an exclusive licensing agreement from the University of Zurich in Switzerland to utilize its GM-CSF protein neutralization technology.

Bonterra Resources Inc (CVE:BTR) (OTCMKTS:BONXF) intersected high-grade gold during the latest round of drilling at the Gladiator and Barry projects in Quebec, the company reported Monday Drilling at Gladiator revealed intercepts of 18.5 grams per ton gold (g/t) over 3 metres in one hole, while another hit 13 g/t gold over 3 metres. At Barry, one drill hole intersected 11.6 g/t gold over 2.9 metres, extending the zone more than 50 metres to the west. Another hole intersected the zone at a depth of over four metres, returning results of 4.9 g/t gold over 4.1 metres.

Biocept Inc (NASDAQ:BIOC) announced Monday that a major laboratory-management provider now offers the company’s flagship liquid biopsy tests for patients with cancer. The company said that Beacon Laboratory Benefit Solutions Inc, or BeaconLBS, connects physicians and their patients to its Labs-of-Choice network, which are preferred, high-quality laboratories that now including Biocept.

BeaconLBS also administers laboratory benefit management programs for health plans to improve test-ordering efficiency, test appropriateness, affordability, and quality of care for health-plan members, according to statement.

Universal mCloud Corp (CVE:MCLD) (OTCMKTS:MCLDF) has delivered the first of its artificial intelligence-powered asset management solution to oil and gas clients in Alberta. The AssetCare solution is a remote management capability for client support services. mCloud and Autopro onboarded AssetCare at six oil and gas facilities in Alberta using a Software-as-a-Service (SaaS) model. Annual recurring revenues are expected to total C$1 million over the six facilities.

Fura Gems Inc (CVE:FURA) (OTCMKTS:FUGMF) announced Monday that its option deal with Richland Resources Ltd to buy the Capricorn sapphire mining project in Queensland has been amended. Capricorn comprises two mining permits (EPM 25973 and EPM 25978) and three mining licenses (ML 70419, ML 70447 and ML 70451).

Progressive Planet Solutions Inc (CVE:PLAN) has issued a shareholder update recapping its past several months of developing markets for zeolite, a white gravely mineral formed from volcanic ash. The company has sold the mineral to a cannabis producer who use it as part of the denaturing process of cannabis waste.  Additionally, samples of zeolite were tested for use in cement materials and found to have superior strength than commercial fly ash. Lastly, the Vancouver company is sponsoring a research project in conjunction with a university in western Canada to create low-carbon footprint cement materials.

MGX Renewables Inc (CSE:MGXR) made its trading debut Monday, under the ticker symbol MGXR on the Canadian Securities Exchange. The firm is developing a patented zinc-air flow battery technology, called the MGXR energy storage system. The system is flexible and can be used in a range of applications, which include renewables storage, such as wind, solar and tidal, commercial and industrial backup applications, which could replace diesel generators, grid scale energy storage and industrial-scale on-demand power.

The Flowr Corporation announced Monday that it aims to raise C$43.5 million via a bought deal financing agreement with a syndicate of underwriters. The agreement stipulates that the underwriters led by GMP Securities LP will purchase, on a bought deal basis, 10,610,000 units of Flowr at C$4.10 per unit, according to a statement. The cannabis company intends to use the net proceeds from the offering to fund, in part, its acquisition of the about 80% equity interest in Holigen Holdings Limited that it does not already own, as working capital required for the construction and development of both Holigen's and Flowr’s cultivation and production facilities, and for general corporate purposes.

Salazar Resources Limited (CVE:SRL), a Vancouver-based mining company with operations in Ecuador, reelected its board of directors and executive team at its annual general meeting of shareholders. All resolutions were passed, including one that allows the company to grant stock options up to 10% of its issued and outstanding common shares.

ROTH Capital Research has reiterated a Buy rating and $6.50 price target on shares in Gold Resource Corporation (NYSEMKT:GORO) following the miner’s second quarter production update. The analysts concluded: “In our view, reaching commercial production at Isabella Pearl in Nevada remains the largest catalyst for the company in 2H20.”


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