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NA Proactive news snapshot: Surge Holdings, FSD Pharma, Asterion Cannabis, Zynerba UPDATE ...

Last updated: 16:00 02 Jan 2020 EST, First published: 09:35 02 Jan 2020 EST

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Surge Holdings Inc (NASDAQ:SURG), a retail supply chain company for underbanked communities, announced Thursday that it was recognized by the Deloitte Technology Fast 500 as one of the fastest-growing technology companies in North America in 2019. The firm recognized “companies that define the cutting edge; transform the way we do business; combine technological innovation, entrepreneurship, and rapid growth; and disrupt the technology industry,” according to a statement, and the winners were chosen on percentage fiscal-year revenue growth over a three-year period.

FSD Pharma Inc (CSE:HUGE) (OTCMKTS:FSDDF), a specialty pharmaceutical research company focused on cannabinoids, said Thursday that it has strengthened its management team by appointing three key executives. In a statement, the company said it tapped Donal Carroll, as chief financial officer and Dr Sandra Lottes, as vice president and head of clinical research of the BioSciences division, at FSD Pharma. It also appointed Shahzad Shah as the company’s chief operating officer. Carroll is not new to the role as he has been the company’s interim CFO since July 2018.

Asterion Cannabis Inc said Thursday it is raising C$10 million to fund construction of its state-of-the-art cultivation compound in Australia.The Toowoomba facility in southeast Queensland will feature around 40 hectares of purpose-built greenhouses to produce high-quality, organic medicinal cannabis. The scheme was awarded Major Project Status by the Australian federal government last year.

Roth Capital Partners has a Buy rating on Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) with a $11 price target, noting the potential promise of the company’s Zygel cannabidiol (CBD) cream which is targeted at four developmental disorders. Zygel currently is being tested to treat Fragile X Syndrome, Autism Spectrum Disorder and 22q Deletion Syndrome, a disorder caused by a small missing piece of the 22nd chromosome with the release of clinical data expected in the first half of 2020. Zynerba also plans to meet with the FDA to discuss using Zygel to treat Developmental and Epileptic Encephalopathies. “Expectations have declined in recent months with shares now trading at (less than) 1/3 of the yearly highs and cash now north of 50% of the market cap. We believe that this presents a more opportune time for an investor entry point. Further, cash is somewhat robust with a runway into 2H21,” the firm wrote.

Fura Gems Inc (CVE:FURA) (OTCMKTS:FUGMF) has announced a milestone in its evolution, namely the completion of its previously announced acquisition of the sapphire mining project, Capricorn in Queensland, Australia from Richland Resources Ltd (LON:RLD). Capricorn comprises two mining permits (EPM 25973 and EPM 25978) and three mining licences (ML 70419, ML 70447 and ML 70451) and Fura has bought 100% of all these licences. Fura paid US$1.25 million in cash. It had previously paid Richland C$25,000 as an option fee payment.

Agile Therapeutics Inc (NASDAQ:AGRX) is gearing up for the commercialization of its lead drug Twirla with some new faces on its executive team. The Princeton, New Jersey-based company has hired healthcare veteran Kimberly Whelan to take the role of vice president of market access, it announced Thursday.

Energy Fuels Inc (NYSEAMERICAN:UUUU) (TSE:EFR) announced Tuesday that it had filed to renew its at-the-market (ATM) program. The renewed programs allows the uranium mining company to sell up to an additional $30 million worth of common shares on the NYSE American or any other trading market in the US at prevailing market price.

Parallax Health Sciences Inc (OTCMKTS:PRLX), a digital healthcare company has retained the law firm Alston & Bird with the intention of protecting and enforcing its intellectual property rights. “With Alston & Bird’s assistance, we will identify possible violations of our intellectual property rights and, if appropriate, to initiate legal proceedings,” Parallax CEO Paul Arena said in a statement. Representing the company is Philippe Bennett, a partner in the firm’s IP Litigation Department who brings more than 30 years of experience litigating patent cases. “Philippe has an impressive record of never having lost a case,” Arena said.

American Battery Metals Corporation (OTCMKTS:ABML) announced Thursday that it has teamed up with VCM Group Pty Limited, a global leader in project management, engineering, and construction, as the company gears up to launch its battery-recycling facility later this year. "VCM Group brings unparalleled expertise and is ready to work on our accelerated timeframe for the delivery of our battery recycling facility, as well as our extraction and production facilities for our lithium project," said CEO Doug Cole in a statement.  

VR Resources Ltd (CVE:VRR) said the TSX Venture Exchange has accepted for filing documentation for a non-brokered private placement. On December 17, the company said it would raise up to C$541,475 gross for the exploration at its Ranoke copper-gold project in Ontario next year. The company will issue 1,483,494 flow-through shares for 36.5 cents per share

Berkwood Resources Ltd (CVE:BKR) said the TSX Venture Exchange has accepted its documentation for a non-brokered private placement. On November 7, Berkwood announced it planned to raise up to C$800,000 to be used for exploration in Quebec. The company said it will issue 1 million flow-through shares at a price of 3 cents each, together with 1 million share purchase warrants at an exercise price of 5 cents each for a two-year period. EMD Financial will receive a finder's fee of 50,000 shares and 50,000 warrants which are exercisable into shares at $0.05 per share for a two-year period.

Great Bear Resources Ltd (CVE:GBR) has received a repeated 'Buy' from Mr Jay Taylor in the December 17 edition of Gold, Energy & Tech Stocks. Taylor said 'Buy' four times between February 15 last year to October 15 last year, at prices ranging between C$0.53 and C$6.62. Explorer Great Bear is currently drilling the Dixie gold project in the Red Lake district of Ontario, focusing on the 18km-long LP trend. The program so far has tested just 4km. Mr Taylor ranks the stock a 'Buy' and says it is among his top five or six personal investments. Great Bear shares in Toronto last closed at C$8.77 each.

UC Asset LP (OTCMKTS:UCASU), a real estate investment company, has qualified to trade on the OTCQX Best Market. Trading is set to begin on January 2 under the ticker UCASU. "We are thrilled that our shares will be traded on OTCQX, a premium market operated by OTC Markets Group," UC Asset founder Larry Wu said in a statement. "UC Asset was founded and became successful by directing global capital to invest in US community growth. Now we look forward to sharing our success with a more diverse group of investors."

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