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NA Proactive news snapshot: Seelos Therapeutics, Namaste Technologies, Codebase Ventures, Orsu Metals …

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

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Seelos Therapeutics Inc (NASDAQ:SEEL) announced Monday it plans to study its SLS-002 intranasal ketamine depression drug in patients suffering from suicidality in major depressive disorder (MDD).  In a statement, the New York-based clinical-stage biopharmaceutical company also said it is amending its agreement with Viera Pharmaceuticals for the development of SLS-002.

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF), the cannabis-focused online platform, is set to lend C$300,000 to Choklat, an Alberta-based craft chocolate manufacturer to "maximize the pending market opportunity for edibles", the company said. Namaste currently holds a 49% interest in Choklat and revealed it had now struck a secured convertible loan deal. 

Orsu Metals Corporation (CVE:OSU) announced Monday two concurrent financings to advance its flagship Sergeevskoe project in Russia to raise over C$1.4 million in total, which includes investments from two of the firm's directors and legendary speculator and founder of Casey Research, Doug Casey. Casey took part in a placing of 1.4 million units at C$0.2385 each to raise C$333,900, with each unit comprising one warrant, entitling the holder to buy a company share for $0.36 for three years.

Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLLF) has issued an investment update on Monday to its shareholders on subsidiary Code Cannabis Investments' interest in UK-based cannabis investment company World High Life Plc (NEX:LIFE). World High Life announced on Friday the completion of its acquisition of Love Hemp Ltd, the top supplier of CBD and hemp products in the UK, for consideration of between C$15.2 million and $16.9 million (£9 million and £10 million). The purchase, the company said, provides Love Hemp with the tools to expand its footprint in the UK and Europe and thus helps World High Life cement its role as a leading medical cannabis and CBD company in the region.

Propanc Biopharma Inc (OTCMKTS:PPCB) said it is making significant progress with its lead product, cancer-fighting drug PRP, as a targeted cancer stem cell therapy.  In a statement, the company said it has completed the preclinical development of PRP and it plans to advance clinical trials in the near future.

Lithoquest Diamonds Inc (CVE:LDI) unveiled Monday potentially encouraging results from its North Kimberley Diamond project in Western Australia, where two new kimberlites have been found. Kimberlite is the name given to igneous rock, which sometimes contains diamonds, and samples will now be submitted to the lab for geochemical analysis, indicator mineral recovery, and diamond testing. Diamond results are expected before the end of the year, the firm revealed.

Nano One Materials Corp (CVE:NNO) (OTCMKTS:NNOMF) told investors on Monday that its lithium battery associated technology has been further booster by another US patent.  The company's innovative work is already protected by patents in the US, Canada, Taiwan, China, Japan and Korea, the Canada-based firm said. Put simply, the company has developed a method to produce high-performance lithium-ion battery cathode materials at low cost. Such batteries are used in electric vehicles, energy storage and consumer electronics.

Avalon GloboCare Corp (NASDAQ:AVCO) announced Monday its plans to repurchase all of the company’s outstanding warrants for about $1.4 million.  The warrants, totalling about 1.7 million, were originally issued to third-party institutional investors in connection with a registered direct offering on April 25, 2019. The transaction is expected to close on or before November 8, at which time the repurchased warrants will be retired and cancelled. “We believe the repurchase of these warrants, combined with the recently announced $20 million non-convertible line of credit from our chairman, provides a platform for significant growth with less potential dilution,” said CEO Dr  David Jin in a statement.

Blackrock Gold Corp. (CVE:BRC) reported after the market close on Friday that all resolutions proposed and voted on at the Annual and Special Meeting of its shareholders held on October 18, 2019, in Vancouver, British Columbia were approved and duly passed. The group noted that shareholders approved setting the number of directors for the ensuing year at five, and elected William Howald, Alan H.C. Carter, John Seaberg, Tony Wood, and Andrew Pollard as directors. After the meeting, the firm appointed Pollard as its President and Chief Executive Officer, Howald as Executive Chairman, Randy Minhas as Chief Financial Officer, and Amit Kumar as Corporate Secretary.

Hill Street Beverage Co (CVE:BEER) (OTCMKTS:HSEEF) told investors that it expects to come to an agreement with one or multiple third-party bottling and canning services following the cancellation of its proposed acquisition of OneLeaf Cannabis Corp on October 1. In a statement released Monday, the company said it believes working with third-party companies to produce its cannabis-infused beverages will prove to be in the best interest of shareholders. On October 1, the due diligence period for the proposed acquisition of OneLeaf expired, and the companies chose not to proceed with the transaction.

Royal Road Minerals Ltd (CVE:RYR) (OTCMKTS:RRDMF) unveiled plans to raise up to C$5 million in a private placement for exploration in Colombia and Nicaragua. The funds will also be used for working capital, the firm said. Pollitt & Co Inc will act as the lead agent to offer up to around 22.7 million shares at C$0.22 each, for gross proceeds of up to C$5 million. Mining major Agnico Eagle Mines Limited (NYSE:AEM) will take part in the offering following the investor rights agreement, reported in May, whereby it has the right to participate in Royal Road financings to maintain its pro-rata ownership, provided that it maintains at least a 9.5% stake.

One World Lithium Inc (CSE:OLWI) (OTCMKTS:OWRDF) told investors on Monday that the first borehole (#1A) drilled at the Salar del Diablo lithium brine project in Baja California, Mexico reached a depth of 220 meters on Sunday, October 20. As reported last week, the company is planning a 2,400-meter program consisting of four boreholes on the 103,430-hectare project. In a statement, the company said the first hole was cased to a depth of 200 meters and drilling subsequently reached a depth of 220 meters (720 feet) at mid-day. One World Lithium said Layne Drilling is drilling the project 24 hours a day, seven days a week, and operator Montgomery & Associates has reported no difficulties.

Nordic Gold Inc (CVE:NOR) (OTCMKTS:FIEIF) said it will issue roughly 26.6 million shares of stock at a price of C$0.05 per share to B&A Wesson Pty Ltd and C&C Wesson Pty Ltd.  The firms are associated entities of Brian Wesson and Clyde Wesson, who have been serving as CEO and vice president at Nordic Gold since they were installed by their management-services company Lionsbridge Capital Pty Ltd in July. The shares are being issued as payment for costs incurred and work carried out by Lionsbridge, which Nordic Gold hired to manage its operations as part of a plan to bring Nordic’s Laiva Project — a gold mine in Finland — back online.

 

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