NA Proactive news snapshot: PyroGenesis Canada, Global Energy Metals, Enertopia, Harvest One UPDATE …

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

Newspapers and laptop
Your daily round-up from the world of Proactive

PyroGenesis Canada Inc (CVE:PYR) (OTCMKTS:PYRNF) said the payment terms of a $20 million contract with Drosrite International LLC (DI) announced last October had been amended to mirror Drosrite International's cash flow as outlined in Drosrite's press release of January 27 this year. DI is a US- based private company duly constituted and existing under the laws of the State of Delaware, providing state-of-the-art waste management technologies to the aluminum industry. "With this announcement, I am happy to also report that it seems all impediments to the payment process have been addressed,” said Peter Pascali, president and CEO at PyroGenesis. “We look forward to having the DROSRITE technology installed in one of the premier facilities in the world.” The deal licenses PyroGenesis to manufacture and sell aluminum dross processing DROSRITE systems and technology to Saudi Arabia and other Middle Eastern countries. Aluminum dross is a byproduct of smelting, that, with treatment, can be recycled.

Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) is strengthening its exploration team with the addition of Timothy Strong as project development manager, the Vancouver-based company said Wednesday. Strong will oversee the company’s exploration activities at its Nevada battery metals projects and evaluate acquisition opportunities. The new team member has over 10 years’ experience in design, implementation and management of gold and base metal exploration projects spanning 11 countries over four continents. "Tim epitomizes the spirit of enthusiasm and innovation in exploration,” GEMC CEO Mitchell Smith said in a statement.

Enertopia Corporation (OTCMKTS:ENRT) is adding clean energy veteran Mark Snyder to its technological advisory board.Snyder brings a 40-year career in the green energy space to Enertopia, an exploration and development company focused on using modern technology to produce lithium carbonate for batteries. The Kelowna-based company told shareholders on Wednesday that Snyder’s experience makes him a “great addition” to the firm’s advisory board.

Harvest One Cannabis Inc (CVE:HVT) (OCTMKTS:HRVOF) announced Wednesday that it has entered into definitive agreements to sell its interest in cannabis retailer Burb Cannabis Corp as well as its stake in a 398-acre site in Lillooet, British Columbia. Pursuant to the transaction, Harvest One has sold its 19.9% equity stake in Burb back to the founders of Burb and has forgiven a shareholder loan with a face value of C$250,000 in exchange for total cash consideration of C$1,512,600, according to a statement. In addition, Burb and Harvest One have concurrently agreed to terminate Harvest One's option to purchase a majority equity interest in Burb as well as outstanding warrants in the capital of Burb held by Harvest One .Upon the closing of the Burb transaction on February 25, Grant Froese, CEO of Harvest One, resigned from Burb’s board of directors. And Harvest One has entered into a contract to sell the Lillooet Property for cash consideration of C$770,000

EnWave Corporation (CVE:ENW) (OTCMKTS:NWVCF) reported the highest number of large-scale Radiant Energy Vacuum machines in fabrication during its fiscal Q1 2020, it said Wednesday. The Vancouver-based company signed six new licensing agreements during the quarter, boosting its revenue to C$8.6 million, up 10% from C$7.8 million compared to the year-ago quarter. EnWave is developing commercial applications for its Radiant Energy Vacuum (REV) dehydration technology in the cannabis, food and pharmaceutical industries.

Imagination Park Technologies Inc (CSE:IP) (OTCMKTS:IPNFF), the augmented reality company, said that it has closed its previously announced convertible debenture for an oversubscribed sum of $1.5 million. The proceeds of the financing will be funneled into marketing, sales, and general corporate purposes. Imagination Park said the debentures will mature 24 months from the issue date, and bear interest at a rate of 12% per annum, payable in common shares at a price equal to the closing price on the day before the interest is due and payable. The firm also appointed former Universal Music Group exec Mike Tunnicliffe, who is currently an advisor to Imagination Park CEO Alen Silverrstieen, to the company's board.

Capstone Turbine Corporation (NASDAQ:CPST) announced Wednesday that its Australian distributor has sold another two Capstone C600 Signature Series microturbines. The purchase, secured by Optimal Group Australia, pushed Capstone’s installed base to 40.1 megawatts (MW) in Australia. “Capstone microturbines are well suited for industrial combined heat and power applications worldwide,” said CEO Darren Jamison in a press statement. “Capstone’s business in Australia and Asia is up 9% year-over-year and our CHP (combined heat and power) business has grown from 40% to 54% of our total revenue compared to this time last year.

1933 Industries Inc (CSE:TGIF) (OTCMKTS:TGIFF) has appointed cannabis entrepreneur Jeannette VanderMarel as an advisor to the consumer packaged goods company, it said Wednesday. VanderMarel will advise on business development and corporate governance, 1933 told shareholders. A former CEO of publicly-listed 48North Cannabis Inc and Beleave Kannabis, VanderMarel also co-founded The Green Organic Dutchman, one of the country’s first licensed producers of medical cannabis.

Ceylon Graphite Corp (CVE:CYL) (OTCMKTS:CYLYF) says testing has shown excellent results for its vein graphite from its K1 mine in Sri Lanka, which means it can be used in lithium-ion batteries. So-called spheronization test work - a sizing and shaping exercise - was carried out on material taken from the mine. "Spheronization is done to optimize the particle surface area to achieve the highest performance in the anode," the company said in a statement, adding that those produced were well rounded spherical graphite particles similar to products on the market.

BioPorto A/S (CPH:BIOPOR) on Wednesday announced preliminary financial results for 2019 showing a slight rise in annual revenue year-over-year. In a statement, the Danish in-vitro diagnostic company said it brought in revenue of DKK26.6 million (US$3.8 million), compared to DKK26 million (US$3.7 million) in 2018. Looking ahead, BioPorto said it expects revenue of about DKK30 million (US$4.3 million) in 2020. Sales of its flagship NGAL Test, which provides an early risk assessment of acute kidney injury, drove a large share of the company’s 2019 revenue. The test is available for research-use-only in the US but is sold for diagnostic use in the EU and in other countries.

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) has reached full enrollment in its upcoming trial of Zygel CBD Gel as a treatment for the behavioral symptoms of Fragile X Syndrome. The 14-week trial will see 210 children between the ages of 3 and 17 treated at 21 clinical sites in the US, Australia and New Zealand. The clinical study of Cannabidiol in Children and Adolescents with Fragile X, or CONNECT-FX trial, is expected to produce topline results late in the second quarter.

Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLLF), a venture capital company investing in early-stage technology and cannabis companies, said Wednesday that it has completed the final tranche of its non-brokered private placement.  In the first tranche, the company raised proceeds of $520,525 through the sale of 15,405,953 units. Through the second tranche, the company raised proceeds of $323,525 via the sale of 15,405,953 units. In the final tranche, the company raised $25,825 through the sale of 12,294,757 units.

HighGold Mining Inc (CVE:HIGH) (OTCMKTS:HGGOF) told investors on Wednesday that it had kicked off this year's winter drill program at its Ontario, Canada, gold properties. Elsewhere, the firm is focused on the high-grade Johnson Tract Gold (zinc, copper) project in south-central Alaska. At the famous Timmins gold camp, where HighGold's assets are located, a particular focus will be on the Munro-Croesus property and its historically mined, high-grade gold mineralization.

WeedMD Inc (CVE:WMD) (OTCMKTS:WDDMF) subsidiary Starseed Medicinal Inc has become the preferred supplier of cannabis to the Insulators Local 95 Health & Welfare Trust Fund, a major union. The Toronto-based cannabis company acquired Starseed in December, giving it a built-in partnership with Canada’s largest construction union, the Laborers’ International Union of North America, which boasts over 100,000 members.

Minera Alamos Inc (CVE:MAI) (OTCMKTS:MAIFF) said shareholders have now approved the final phase of the C$14 million financing deal with Osisko Gold Royalties Ltd, announced in December, which will allow it to build the Santana gold mine in Mexico. As reported last year, Osisko will buy 30 million shares of Minera at C$0.20 each for C$6 million. Osisko will also acquire a 3% net smelter royalty (NSR) of the Santana project for C$5 million in cash and Minera will have the option to draw down from Osisko as much as C$3 million more.

Mineworx Technologies Ltd (CVE:MWX) (OTCMKTS) said Wednesday that it has signed a letter of intent with EnviroLeach Technologies Inc (CSE:ETI) (OTCMKTS:EVLLF) to develop and utilize EnviroLeach’s patented technology to recover platinum group metals (PGM) from catalytic converters. After signing a definitive agreement with EnviroLeach, Mineworx will fund, in phases, the further development of EnviroLeach’s technology to tailor it to recover platinum group metals, including bench and pilot-scale test work. 

Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) said Wednesday that its subsidiary Cocoon Technology LLC is closing in on launching its proprietary kiosks with one of Nevada’s largest cannabis retailers. The Las Vegas-based company said that Cocoon had completed the final phase of development and testing ahead of the platform’s deployment at THRIVE Cannabis Marketplace, the state’s largest independent retailer. Cocoon’s pods are expected to be ready in-store by April 2020.

Seelos Therapeutics Inc (NASDAQ:SEEL) has released additional interim safety data from a pair of Phase 1 studies of its Intranasal Racemic Ketamine. The data from both studies have demonstrated that doses of 30mg, 60mg, 75mg and 90mg of the drug, SLS-002, have been generally safe and well-tolerated, the company said. Included in the dataset are all 42 subjects from study SLS-002-101 and 38 out of 62 subjects from study SLS-002-102. The data showed no discontinuations due to drug-related adverse events (AEs), no serious adverse events (SAEs) and the vast majority of AEs have been mild or moderate, transient in nature and have not revealed any new or unique safety signals. Five out of 80 subjects experienced severe AEs that were transient in nature, consistent with the known profile of the drug, and all AEs resolved without medical intervention.

Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) revealed it is to acquire two properties from Emgold Mining Corp, which are close to its Kenville gold mine in British Columbia. The Stewart and Rozan properties lie close to Ximen's Kenville gold mine and consist of 60 mineral claims covering a total of 7,739 hectares, the firm said in a statement.

Ximen Mining also said the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement, announced on February 13, 2020, which will see the issue of 470,588 shares at a price of 31.875 cents each, together with 470,588 share purchase warrants at an exercise price of 53.125 cents each for a three-year period, with one placee.

Gold Resource Corporation (NYSEAMERICAN:GORO) has declared its monthly instituted dividend of one-third of a cent per common share for February 2020 payable on March 23, 2020 to shareholders of record as of March 11, 2020. The company said it has returned $113 million to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Fidelity Minerals Corp (CVE:FMN) said the TSX Venture Exchange has accepted for filing the company's proposal to issue 300,000 shares at a deemed value of 23.67 cents per share to settle outstanding debt for $71,000 with one creditor.

Proactive Research has published an initiation note on Royal Road Minerals Ltd (CVE:RYR), a gold-focused exploration company with assets in Nicaragua and Colombia. Analyst Ryan D. Long concludes: “While the prospect generator model is now well-established in the junior exploration space, Royal Road is creating its own version of the model that ensures funding comes into the top company as well as the assets.”

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Zynerba Pharmaceuticals named herein, including the promotion by the Company of Zynerba Pharmaceuticals in any Content on the Site, the Company...



Full interview: Thunderbird moves entire workforce to a work at home model...

Thunderbird Entertainment (CVE: TBRD) President Mark Miller joined Steve Darling from Proactive Vancouver to discuss how the company is dealing with COVID 19. Miller talks about what they have done with all their staff in a very short amount of time. Miller also told Proactive that they are...

2 hours, 25 minutes ago

11 min read