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NA Proactive news snapshot: Dyadic, Tectonic Metals, GlobeX Data, PowerOre UPDATE ...

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

NA Proactive news snapshot:
Your daily round-up from the world of Proactive

Analysts at Dawson James Securities said that Dyadic International Inc (NASDAQ:DYAI) is “chock full” of opportunities citing the company’s effective strategy which is to pursue license and royalty structured deals across several focus areas. The boutique investment bank currently has a “Buy” rating and $14 price target for Dyadic, which currently trades in the $5.70 range. In a note to clients, Dawson James analyst Jason H Kolbert said the Jupiter, Florida, biotechnology company closed the third quarter with $37 million in cash and plenty of catalysts. “Dyadic reviewed all the progress in the period, and we took note of a few key points: Additional collaborations are underway, such as the one announced in the animal health space,” said Kolbert. The analyst created an exhibit of upcoming catalysts for the company in the shape of additional collaborations with pharma, biotechnology, biosimilar, and industrial companies, and opportunities in the large AAV vector and vaccine market.

Tectonic Metals Inc (CVE:TECT) has started with gusto with drilling at its Tibbs project in Alaska, reporting one of the "strongest" results to come out of the Goodpaster mining District in years and making a new gold discovery. The newly public company reported that in its first-ever drill campaign at Tibbs, it had uncovered 6.03 grams per tonne gold (g/t gold) over 28.95 metres (m). The project lies 35 kilometeres away from Northern Star Resources' Pogo mine. This highlight intercept was found at the M1 Structure at the so-called Michigan zone, which is one of 21 gold targets presently known about at Tibbs which have potential for near-surface, high-grade, lode gold mineralization.

GlobeX Data Ltd (CSE:SWIS) (OTCMKTS:SWISF) said Friday that its CEO Alain Ghiai has been published on CriticalBlast.com on the subject of Cyber Attacks during this holiday season. In the article, Ghiai gives a few tips to the general public on how to minimize the risks of Cyber Attacks during the busy holiday shopping season. 

Biopharmaceutical company Orgenesis Inc (NASDAQ:ORGS) encouraged shareholders on Friday to vote in favor of all proposals in the company’s proxy statement ahead of its annual meeting on November 26, 2019. “It is extremely important that shareholders take the time to vote their shares,” the Germantown-based company said in a release. Orgenesis provides centralized CDMO manufacturing and development services through its subsidiary Masthercell Global Inc, as well as localized point-of-care development and processing centers.

Minera Alamos Inc (CVE:MAI) (OCTMKTS:MAIFF) on Friday announced voting results from its annual general meeting of shareholders on November 21 in Toronto. Shareholders voted overwhelmingly in favour of all items put forward by the board and management, including the appointment of MNP LLP as company auditor. Also, board nominees Bruce Durham, Darren Koningen, Reuben Padilla and Doug Ramshaw were all elected.

Next Green Wave Holdings Inc (CSE:NGW) (OTCMKTS:NXGWF) announced Friday that it has completed an asset-backed financing with Landrace Financial in the amount of C$5.3 million. In addition, the company has agreed to a non-brokered private placement of 6,666,666 shares at C$0.15 per share for gross proceeds of C$1 million -- for a total financing of C$6.3 million. "A financing collateralizing US cannabis assets is extremely rare,” said CEO Michael Jennings in a statement. “The fact that we were able to accomplish an asset-backed financing at our relatively early stage of existence is very encouraging and speaks to the lender's high confidence in the potential of our company." Jennings noted that the company expects to achieve both positive cash flow and profitability in the first half of 2020.

PowerOre Inc (CVE:PORE) on Friday released its 2020 development plan for the flagship Opemiska copper project in Quebec that calls for a drill program of 15,770 metres (m)over 78 diamond drill holes. The company’s expanded drill program follows the completion of the 23-hole, 3,364 m program in 2019 on Springer, which yielded promising results, along with the compilation and 3D modeling of the Springer and Perry mines. PowerOre said drilling on Springer will focus on resource delineation while Perry will see twinned surface holes along with exploration. Completion of this drill program is expected to demonstrate preliminary economics for open pit and underground components of Opemiska.

Roth Capital repeated a Buy rating on Arix Bioscience PLC’s (LON:ARIX) portfolio company Harpoon Therapeutics (NASDAQ:HARP) after it granted phama giant Abbvie (NYSE:ABBV) an exclusive option over the rights to a treatment for a type of blood cancer. The drug, HPN217, uses Harpoon’s Tri-specific T cell Activating Construct (TriTAC) technology to target BCMA, a biomarker associated with multiple myeloma cancer. This latest agreement builds on a collaboration deal signed in 2017 and also gives Abbvie exclusive rights to develop and market two new TriTAC molecules plus an option to select up to four additional targets. For each of the targets, Harpoon will receive a milestone payment of $310 million each upfront plus royalties on global sales. “We believe that this is a strong indication of Abbvie's confidence in the platform, a superb strategic move for Harpoon to remain focused on its solid tumor efforts, and an excellent source of additional cash (up to $100M likely to be received between now and 1H2020),” wrote analyst Zegbeh Jallah. 

Thunderbird Entertainment Group Inc (CVE:TBRD) told shareholders Friday that it will hold a conference call and webcast to share the company’s 1Q 2020 results on December 2 at 6 am PST (9 am ET). CEO Jennifer Twiner McCarron and chairman Brian Paes-Braga will provide a corporate update and strategic overview of the entertainment company, followed by the financial statements presented by Thunderbird’s CFO. Vancouver-based Thunderbird is a global multiplatform entertainment company with additional offices in Los Angeles, Toronto, Ottawa and London.

WeedMD Inc (TSX-V:WMD) (OTCQX:WDDMF) will release its quarterly financials after market close on November 28. The company will host a conference call with management the next day at 10 am ET to report its financial results for the three- and nine-months period ending September 30 as well as provide an operational and corporate outlook. The call will be hosted by CEO Keith Merker and CFO Nichola Thompson. Dial-in number in Canada/USA is 1-800-319-4610 and international is 1-604-638-5340.

IEC Electronics Corp (NYSEAMERICAN:IEC), an electronic manufacturing services company, reported fiscal fourth quarter results before the bell Friday, marking five consecutive quarters of revenue growth. IEC saw revenue of $43.9 million for the three months ended September 30, up 28% from $34.2 million a year earlier and ahead of Street estimates of $40.4 million. The Newark, New York-based company reported net income of $1.9 million, or $0.17 per diluted share, down year over year from $9.1 million, or $0.87 per share, but strong enough to beat analyst estimates of $0.13 per share.

 

 

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