NA Proactive news snapshot: Newgioco, Co-Diagnostics, Gevo, Mineworx Technologies 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

Newgioco Group Inc (NASDAQ:NWGI) said that the coronavirus (COVID-19) pandemic has taken a bite out of its sports book revenue, but it has been offset by higher online poker and virtual sports revenue. The company has temporarily shuttered 150 betting shop locations throughout Italy, but the group stressed that the closing of the physical locations does not affect its continuing online and mobile operations. In a statement, the Toronto-based global sports betting and gaming technology company said that between March 1-25 overall gaming revenue fell around 20% to $1.54 million, compared to $1.92 million between February 1-25. Casino, poker and other-than-sports product line revenue shot up 16.6%, with the biggest gains coming from online poker and virtual sports.

Co-Diagnostics Inc (NASDAQ:CODX) said Monday that it achieved several milestones in 2019 by strengthening its strategic relationships and product pipeline which have set the company up for further growth in 2020. While reporting financial results for the year to December 2019, the Salt Lake City-based molecular diagnostics group noted that it had been the first US company to receive a CE-mark from the European Union (EU) for its Logix Smart coronavirus (COVID-19) test. It is currently shipping orders for its test kits to 10 to 13 countries across five continents, including America, Europe, Asia and Australia, resulting in revenues for the first quarter of 2020. The firm has had inquiries from nearly 50 countries.

Gevo Inc (NASDAQ:GEVO) has suspended operations at its Luverne Facility in Minnesota and terminated 30 employees in response to the market disruption caused by the coronavirus (COVID-19). The laid-off employees cut across its subsidiary Agri-Energy’s operations in Luverne and Gevo’s headquarters in Colorado. The remaining employees who earn above a certain threshold, including senior executives, have agreed to take a 20% salary reduction over the next three months, the company said. These steps will save the company several million dollars in cash burn this year. Gevo said it plans to continue the production of renewable isooctane and sustainable aviation fuel at its plant in Silsbee, Texas.

Mineworx Technologies Ltd (CVE:MWX) (OTCQB:MWXRF) announced that a former member of its board of directors, Henry McKinders, died Tuesday at the age of 83. McKinders joined the company in 1995 and served as a director from 1998 until 2014, when he transitioned to working for the company as a consultant. He had a breadth of experience in the investment field and consulted for numerous private and public companies over his career. The entire Mineworx team extends its heartfelt condolences to his family and many friends.

OTC Markets Group Inc (OTCQX:OTCM) shared the agenda for its upcoming Global Technology and Software virtual investor conference, for companies, investors and industry professionals from around the world. The highly anticipated day-long virtual event will showcase live company presentations and interactive discussions focused on the global technology and software industry. The program opens at 10.15 am ET on Thursday with the first live webcast at 10.30 am ET. NexTech AR Solutions (OTCQB: NEXCF) (CSE: NTAR) will kick off the virtual conference at 10.30 am, followed by Analytixinsight Inc (OTCQB: ATIXF) (TSX-V:ALY), Siyata Mobile Inc (OTCQX: SYATF) (TSX-V:SIM), and POET Technologies Inc (OTCQX: POETF) (TSX-V:PTK).

TIMIA Capital Corporation (CVE:TCA) (OTCMKTS:TIMCF) announced Tuesday the results of its 2020 Special Shareholder Meeting. Approximately 65% of the total outstanding shares (or 25,899,479 shares) were represented with 15,510,533 shares voted in favor for the Capital Alteration item on the proxy, 15,510,533 shares voted in favor for the creation of Series A Preferred Shares item on the proxy, and 15,510,533 shares voted in favor for the Advance Notice Provisions item on the proxy.

PUDO Inc (CSE:PDO) (OTCQB:PDPTF), the Canadian logistics provider, recorded exponential growth over the month of February, it said in a statement. The Toronto-based company saw parcel return volume increase by 443% during the month, with parcel drop-off numbers rising by 181% and re-direct volume seeing a 66% increase compared to the same figures a year earlier. PUDO’s growth comes in what is typically a slow period for the logistics industry and during a time when the global coronavirus pandemic is wreaking havoc on supply chains around the world.

Heritage Cannabis Holdings Corp (CNSX:CANN) (OTCMKTS: HERTF) announced Tuesday it brought in C$4 million in revenue in its first quarter of fiscal 2020  — a milestone achievement as the company reported zero revenue in the year-ago quarter. The company also said it closed its first quarter, which ended January 31, with a cash position of C$9.3 million and working capital of C$14.8 million.  "The first quarter showed continued growth in revenue and the advancement of our business strategy with the expansion of our licensed area at CannaCure progressing well,” said CEO Clint Sharples in a statement. 

Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) has issued a message to investors after a US District Court invalidated patents related to Amarin Corporation’s rival drug Vascepa, potentially paving the way for generic versions: Regardless of the legal result, our drug will be better. Matinas manufactures MAT9001, an omega 3-based drug designed to lower triglycerides more effectively than Vascepa. “We continue to believe that MAT9001 has best in class potential regardless of the final outcome of the Vascepa patent litigation,” CEO Jerome Jabbour said.

Ideanomics Inc (NASDAQ:IDEX) told shareholders Tuesday that its electric vehicle division is poised to get a boost from new subsidies and tax incentives recently introduced in China. In a state council meeting earlier today, Chinese premier Li Leqiang put forth measures that will see the nation extend new energy vehicle subsidies for two years. The central government will also compensate for the replacement of diesel vehicles in major population centers like Beijing, Hebei and Tianjin and remove used car VAT tax until the end of 2023.

Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) updated Tuesday on its response to the coronavirus, saying it will only begin fieldwork once restrictions on non-essential work in Ireland are lifted. The resource group said that all staff have been working from home since mid March and will continue to do so during the crisis. No staff member has exhibited symptoms or tested positive for the virus.

BioCorRx Inc (OTCQB:BICX), a provider of treatments for substance abuse disorders, announced Tuesday that development of its naltrexone implant has not been hampered by the coronavirus (COVID-19) pandemic. Naltrexone is designed to decrease the desire to take opioids. "We continue to advance BICX102, a sustained-release naltrexone implant for the treatment of opioid and alcohol use disorders, through the research and development pathway,” CEO Brady Granier said in a statement. “Over the summer, we entered into a Master Services Agreement with Charles River Laboratories Inc to begin conducting preclinical studies of BICX102.

Verde AgriTech Plc (TSE:NPK) (OTCQB:AMHPF) is coming off a year of significant growth highlighted by triple-digit revenue growth in its fourth quarter. For the quarter ended December 2019, the company posted a 115% jump in revenue to nearly C$1.5 million, compared to C$692,000 in the same period a year earlier. Brazil-based Verde’s full-year revenue for 2019 was just over C$6 million, a 344% increase from 2018 levels.

Exro Technologies Inc (CSE:XRO) (OTCQB:EXROF) announced Tuesday that Werner Kitz, an industry leader in electric motors and drives, has joined its Business Advisory Board.A senior executive and engineer at Siemens for more than 25 years, Kitz brings a global perspective to innovation and manufacturing in the power-conversion sector, the company said a statement.

CytoDyn Inc (OTCQB:CYDY) said Tuesday that the US Food and Drug Administration (FDA) has given the nod for the start of a Phase 2 trial with its lead drug leronlimab to treat coronavirus (COVID-19) in patients with mild to moderate indications. Patients enrolled in the trial are expected to have a treatment window of approximately 6 weeks. Leronlimab is intended to serve as a therapy for patients experiencing respiratory complications as a result of the virus.

Separately, CytoDyn also completed a new non-dilutive convertible debt offering with an institutional investor, which provides $15 million of immediately available capital. 

Ipsidy Inc (OTCQB:IDTY), which operates an Identity-as-a-Service (IDaaS) platform that delivers biometric identity solutions, said it has made great strides in building “trusted identity” last year, as it reported full-year 2019 financial and business results. In a statement accompanying the New York biometric security specialist’s latest numbers, Ipsidy CEO Philip Beck said: “As a result of our engagement with business partners in 2019, we have finetuned our approach to the market to reflect the solutions that customers are demanding and simplified the way users interact with our solutions.”

Bragg Gaming Group Inc (CVE:BRAG) (OTCMKTS:BRGGF) subsidiary ORYX Gaming has said it is supplying its full portfolio of casino games to online gaming powerhouse Lottoland. Lottoland, which is the world’s largest betting operator, will have access to ORYX’s over 8,000 games from its suppliers and any forthcoming releases.

Tocvan Ventures Corp (CNSX:TOC) has revealed that this year's fieldwork at the Pilar gold-silver project in Sonora, Mexico has begun, ahead of a potential drill program later in 2020. The aim of the work is to expand the known areas of mineralization; refine structural features that control mineralization; identify new targets and define them for drill testing, the company said in a statement. The work began on March 21, the company added.

Orgenesis Inc (NASDAQ:ORGS) announced Tuesday a breakthrough in the field of cell and gene therapy. In a statement, the global biotech said it had "developed a breakthrough and patented manufacturing process" for so-called bioxomes, through its collaboration and licensing agreement with ExcellaBio Ltd.

Asterion Cannabis Inc and its wholly-owned subsidiary Asterion (Australia) Pty Ltd are finalizing the development, construction, maintenance and financing of the first phase of a $400 million greenhouse project in Toowoomba, Queensland.  In a statement Tuesday, the privately-owned Vancouver-based company said it has entered into an exclusive Definitive Association Agreement (DAA) with entities within the Watpac Limited group.   Watpac is a large and well-known contractor in Australia and part of the BESIX Group, a global construction, property development and concessions company.

The Flowr Corporation (CVE:FLWR) (OTCMKTS:FLWPF) has received a key licence, which now allows it to release final product into the European market, the cannabis firm told investors on Tuesday. The group said its subsidiary in Europe, Holigen has received Good Manufacturing Practice (GMP) certification in accordance with European Union standards, for its manufacturing facility in Sintra, Portugal.

Milestone Scientific Inc (NYSEAMERICAN:MLSS) announced Tuesday that it is advancing the commercial rollout of its CompuFlo Epidural system. The medical device company’s system, a computer-controlled, real-time pressure-sensing technology, is designed to reduce failure rates and accidental punctures. "We have made significant strides in 2019 in order to commercialize our CompuFlo Epidural System in 2020,” Milestone's interim CEO Leonard Osser said in a statement.  

Phunware Inc (NASDAQ:PHUN) posted full-year 2019 results after the close on Monday, which revealed the enterprise cloud company transitioning from one-time transaction revenue to multi-year subscription and service revenue. The company, which offers a fully integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands, brought in $19.2 million in net revenue in 2019, albeit down from $30.9 million the year prior.

Q BioMed Inc (OTCQB:QBIO) has announced the appointment of Geoff Fatzinger as its head of regulatory affairs to focus on the company's global regulatory approval strategy to commercialize its lead cancer bone pain product - the non-opioid Strontium89. "We are very happy to have Geoff join the team at Q BioMed. His deep global regulatory expertise and strategic leadership is critical as we reach some important milestones, including our effort to globally commercialize Strontium89," Q BioMed CEO Denis Corin said a statement.

Global Atomic Corporation (TSE:GLO) (OTCMKTS:GLATF), the uranium and zinc group, said last year was one of great progress as it posted 2019 results. The firm has six uranium exploration permits in the Republic of Niger, including the significant Dasa deposit, and its Electric Arc Furnace Dust (EAFD) business in Turkey via the BST plant converts a waste product into zinc concentrate.

Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) has told investors that it aims this year to ramp up exploration, expand its resources and improve its finances as the group reported its 2019 financial results. Last year, the precious metals producer bought the Tucano gold mine in Brazil, which led to a jump in revenue for the year to end December. The company also operates two Mexican mines - the Topia mine and the Guanajuato Mine Complex (GMC).

Great Panther Mining also said that two technical reports regarding the Guanajuato Mine Complex have been filed. The reports are titled "NI 43-101 Mineral Resource Update Technical Report on the Guanajuato Mine Complex, San Ignacio Mine, Guanajuato State, Mexico", dated March 17, 2020, and "NI 43-101 Mineral Resource Update Technical Report on the Guanajuato Mine Complex, Guanajuato Mine, Guanajuato State, Mexico", dated March 27, 2020. The Technical Reports are available on the company's website at www.greatpanther.com.

Weekend Unlimited Industries Inc (CSE:POT)(FSE:0OS1)(OTCQB:WKULF) revealed Tuesday that it was “rapidly expanding” its branded product portfolio in Oklahoma to keep pace with rising demand. The Vancouver-based company only kicked off sales in late-2019, but its branded products are now available in over 75 dispensaries in “The Sooner State,” and growing in popularity. In a statement, the company said that it had bolstered its sales team in Oklahoma with the addition of two experienced cannabis sales reps to “manage and grow” the company’s “expanding retail relationship network.”

ImmunoPrecise Antibodies Ltd. (CVE:IPA) (OTCQB:IPATF) said it has extended the maturity date for $2,000,000 of previously issued debentures from March 26, 2020 to September 26, 2020. The group also announced that it has completed its settlement of $700,00 of previously issued debentures and interest of $46,875 accrued thereon by issuing 1,244,792 common shares at a price of $0.60 per share. It said the purpose of the debt settlement is to reduce the group's ongoing debt obligations of the debentures. The shares being issued will be subject to a four-month hold period expiring on July 27, 2020.

The Valens Company (CVE:VLNS) (OTCQX:VLNCF) said it has received conditional approval to list its shares on the main board of the Toronto Stock Exchange. The Kelowna-based company will graduate from the TSX Venture Exchange, a key landmark in the life of a junior publicly-listed company.

Mandalay Resources Corporation (TSX:MND, OTCQB:MNDJF) said it has filed its Annual Information Form for the year ended December 31, 2019, and has also filed an updated National Instrument 43-101 (NI 43-101) compliant Technical Report documenting its recent work at its Björkdal gold mine in Sweden and its Costerfield gold-antimony mine in Australia. It said these can be acessed on the company’s website at www.mandalayresources.com.

Dunnedin Ventures Inc (CVE:DVI), which is changing its name to Kodiak Copper Corp on Wednesday, said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement, announced on March 13, 2020, which will see the issue of 18,614,000 flow-through shares at a purchase price of 10.5 cents each, plus 9,307,000 share purchase warrants at an initial exercise price of 11 cents and a 2-year term to expiry, with 10 placees.

Marrone Bio Innovations, Inc. (NASDAQ:MBII), a leading provider of effective and environmentally responsible pest management and plant health products, said its Form S-1 resale registration statement relating to the potential resale of shares of common stock, including common stock issuable upon the exercise of warrants, held by certain shareholders of the company has been declared effective by the US Securities and Exchange Commission on March 30, 2020. Jim Boyd, the company's Chief Financial Officer commented: "We are not offering any new securities, and we will not receive any proceeds from the resale of stock under this Form S-1. However, because this registration statement is now effective, we may continue to receive proceeds from the cash exercise of warrants issued in February 2018 and issuable under our warrant facility."

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 CytoDyn Inc. named herein, including the promotion by the Company of CytoDyn Inc. in any Content on the Site, the Company receives from said...



Nano One sees better financial numbers following release of Engineering report

Nano One (CVE: NNO- OTC: NNOMF) CEO Dan Blondel joined Steve Darling from Proactive Vancouver with news the company recently completed an engineering report that enhances design specifications, tightens budgetary estimates and models improved economics for the commercial-scale production of...

25 minutes ago

14 min read