leadf
logo-loader

NA Proactive news snapshot: Aftermath Silver, Phunware, DRDGOLD, Pressure BioSciences, Calyxt 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

Aftermath Silver Ltd (CVE:AAG) (OTCQB:AAGF) said it had closed its previously announced private placement of 7.5 million units at C$0.20 each for gross proceeds of C$1.5 million, which brought in Palisades Goldcorp as a significant shareholder with a 10.4% stake. The firm aims to use the net proceeds for business development, maintenance costs at the Challacollo and Cachinal, silver-gold projects in Chile, and for general working capital. Each of the 7.5 million units comprises one share and one-half of one warrant exercisable at C$0.25 for three years

Internet of Things Inc (CVE:ITT) (OTCMKTS:INOTF) announced the development of ThermalPass, a new fever detection system designed for public spaces during the coronavirus (COVID-19) pandemic. The device instantly screens for higher-than-normal body temperatures with an accuracy of 0.36 degrees Fahrenheit, thus identifying possible carriers of the coronavirus. If ThermalPass machines are stationed at the entrances of high-traffic public locations, they can potentially help reduce the risk of further spread. Prototypes are currently in advanced development, and the company expects to launch the product in June.

Mandalay Resources Corporation (TSE:MND) (OTCQB:MNDJF) will release its first quarter 2020 financial results after market close on May 13, it said Thursday. Following the release, investors are invited to join a conference call with CEO Dominic Duffy on May 14 at 8am EST. Interested analysts and investors may participate at the toll free number (877) 407-8289 using the conference ID 13703470.

VolitionRx Limited (NYSEAMERICAN:VNRX) announced Thursday it closed its first quarter of 2020 with $12 million in cash and cash equivalents. It also released preliminary results from study on how its Nu.QTM blood test can be used as a diagnostic or prognostic tool for coronavirus (COVID-19). The company said a recent proof of concept study involving 34 polymerase chain reaction (PCR) COVID-19 positive subjects and 50 control subjects revealed that nucleosomes were highly elevated in the PCR positive subjects. Results demonstrated an Area Under the Curve (AUC) for a single Nu.QTM assay of 98.7% for PCR positive COVID versus control subjects with a sensitivity of 100% at 94% specificity.

Silvercorp Metals Inc (TSE:SVM) (NYSEAMERICAN:SVM) hit its full year production guidance despite an extended shutdown in its fourth quarter, the miner reported Thursday.
The achievement comes as operations in China were suspended for around six weeks in light of the coronavirus pandemic in the country. Once operations reopened in March, production was ramped up to full capacity with no employee infections, Silvercorp said in a statement.
The firm mined a total of 75,199 tons of ore during the month of March, around 95% of its full capacity compared to a fully operational month.

Phunware Inc (NASDAQ:PHUN) has teamed up with technology transformation company Red River to distribute its Smart City Solution multiscreen-as-a-service (MaaS) platform to state, local and education (SLED) government agencies. Phunware recently launched its Smart City Solution for mobile in response to the coronavirus pandemic and plans to distribute it through Red River as a trusted channel platform. CIties that work with Red River will be able to utilize Phunware’s platform to identify, locate and engage with residents and visitors.

DRDGOLD Limited (NYSE:DRD) told investors that despite a 13% drop in gold output in its fiscal third quarter, the tailings retreatment firm sold 47,004 ounces in the three months to end March, which was only 3% lower than the previous quarter. While throughput was 4% down at 6.56 million tonnes and yield 9% lower, resulting in a 13% decline in gold production to 1,346 kilograms, the group's gold sales came in at 1,462 kilogram due to the company selling inventory in expectation of the coronavirus lockdown, the company told investors. The decline in sales was also offset by a 13% higher gold price, which pushed earnings before interest, tax, depreciation and amortization (EBITDA) up 18% to R389 million (US$20.8 million), the company also revealed.

Pressure BioSciences Inc (OTCQB:PBIO), which plans to change its name to Availa Bio following its acquisitions of and merger with two other companies, has tapped former L'Oréal President Jim Morrison as the new CEO of the rebranded company. Pressure BioSciences intends to change its name upon completion of the merger with Cannaworx Inc and SkinScience Labs. The change is meant to reflect the science-driven collaboration between the companies, which will operate as synergistic divisions utilizing Pressure Bio’s Ultra Shear Technology platform to bring new levels of bioavailability and performance to a suite of human, animal and agricultural products. Morrison has had a legendary career including numerous leadership positions in the personal care industry, most notably with L'Oréal, the world’s largest cosmetics company.

Calyxt Inc (NASDAQ:CLXT) posted first-quarter results that saw revenue leap 1,414% year-over-year on the back of a favorable product mix driven by high oleic soybean products, including oil and meal. For its first quarter ended March 31, 2020, the Roseville, Minnesota-based company posted revenue of $2.4 million, an increase of $2.2 million from the first quarter of 2019. The spike in revenue was driven by volume growth and high oleic soybean meal which made up 87% of the income. And most oil revenue came from a world-class customer, said the company. Calyxt had cash and equivalents including short term investments and restricted cash totaling $47.4 million as of March 31.

Blackrock Gold Corp (CVE:BRC) said Thursday it has identified reports outlining gold and silver mineralization in historic mine dumps and tailing material on its 100%-controlled Tonopah West project in Nevada. It has established a work program to evaluate the past metallurgical results as part of a program that will include a desktop review of the existing metallurgical, drill-hole and surface sample data sets, to be followed by surface sampling and 700 metres of sonic drilling at an estimated cost of $225,000. 

EXMceuticals Inc (CSE:EXM) said it has secured a supply agreement-in-principle of pharmaceutical and medical grade cannabis ingredients totalling a minimum of 8,400 litres of extracts in 2021. The refined cannabis ingredients maker said the agreements will ensure access to GMP-compliant pharmaceutical and medical grade cannabis for its planned Portugal-based refinery, adding that it has also signed an outline letter of intent (LOI) with one counterparty for the offtake of the eventual supply of finished ingredients. EXMceuticals also said that Farmceutica Wellness, a supplier of medical grade cannabidiol (CBD) ingredients, will initially supply up to 4,200 kilograms (kg) of pharmaceutical grade cannabis ingredients to EXM annually.

Hillcrest Petroleum Ltd (CVE:HRH) (OTCMKTS:HLRTF) has announced that it is planning to restart production from its West Hazel assets in Saskatchewan and commence oil sales at the beginning of June. The company said it has nominated firm oil sale volumes for June and intends to test spot sales during May, subject to oil pricing and export capacity. Hillcrest added that it has successfully reduced operating expenses by around 25% by electrifying field operations in April, providing it with lower production costs than many competing oil producers and allowing it to resume production earlier than others.

MGX Minerals Inc (CSE:XMG) (OTCPINK:MGXMF) is getting into the gold space with the acquisition of a past-producing project in British Columbia. The company announced Thursday that it has acquired the Heino-Money gold deposit and the Tillicum Claims in the West Kootenay region of the province in a C$5 million cash-and-share deal. Heino-Money was active between 1981 and 1993 and produced around 5,800 tons of gold and silver ore.  The Tillicum Claims consist of the Grizzley, Annie Flats, and Silver Queen occurrences, located approximately 110 kilometres east of the town of Kelowna. Early exploration work during the 1980s at Silver Queen returned promising results.

Esports Entertainment Group Inc (NASDAQCM:GMBL) (NASDAQCM:GMBLW) said it has signed a binding letter of intent (LOI) to acquire the holding company of online sportsbook and casino operator Argyll Entertainment. Esports Entertainment noted that since launching its flagship brand, www.sportnation.bet, in the summer of 2017, Argyll has “established itself as a fast-growing and innovative gaming company within the UK and Irish market”. In a statement, Grant Johnson, chief executive of Esports Entertainment commented: “With Argyll already generating around $12 million in revenue annually, this acquisition will have a major positive impact for our company.”

BioPorto A/S (CPH:BIOPOR) announced Thursday that its proprietary NGAL Test, which provides an early risk assessment of acute kidney injury (AKI), is seeing “growing global interest.” In fact, rising demand for the test led to a 67% increase in NGAL-related revenue in the first quarter of 2020, the Danish firm said in a statement. The test helped drive quarterly revenue to DKK 2.1 million (US$303,516), up from DKK 1.3 million (US$187,891) in the year-ago quarter.

Energy Fuels Inc (NYSEAMERICAN:UUUU) revealed Thursday that it has struck a deal with GeoInstruments Logging LLC to buy all of its prompt fission neutron (PFN) technology and equipment, including related intellectual property. The deal will give Energy Fuels, which is the largest producer of uranium in the US, the exclusive right to use and license PFN technology globally. Energy Fuels says PFN is “critical” to successful uranium production particularly from “many in situ recovery deposits.” Energy Fuels will pay GeoInstruments Logging $500,000 in cash for the technology, with the deal expected to close within two weeks after completion of a due diligence inspection of the equipment.

BevCanna Enterprises Inc (CSE:BEV) (OTCPINK:BVNNF) has signed a non-binding letter of intent (LOI) with Maritime-based cannabis producer Argentia Gold Corp to exclusively represent its line of cannabis-infused beverages in Newfoundland, Prince Edward Island and New Brunswick. Under the LOI, BevCanna is expected to provide finished cannabis and cannabis extract products, which Argentia will distribute and sell within the three Canadian provinces. BevCanna will pay a 15% service fee, with a 5% bonus if certain sales milestones are reached. The companies expect to sign a definitive agreement within the next 45 days.

RNC Minerals Corp (TSE:RNX), the Western Australia- focused miner, has posted solid financials and a strong operating performance in the first quarter of 2020, which saw production lifted and costs reduced. The miner, which runs the Beta Hunt and HGO mines, also strengthened its coffers and ended the three months to March 31 with cash of C$38.4 million, and working capital of C$30.7 million.  That is an improvement of C$3.8 million and C$4.2 million respectively compared to the end of 2019. RNC's net earnings for the first three months of 2020 were C$884,000 compared to a loss of C$1.5 million in the first quarter of 2019. Revenue came in at C$54.2 million, versus C$10.8 million in the first quarter of 2019.

Ideanomics Inc (NASDAQ:IDEX) said Thursday that its Mobile Energy Global (MEG) division has signed an agreement with Beijing Xinneng Green Intelligent Network Technology Co Ltd (BXGI) to help finance the replacement of its urban fleet with electric vehicles (EVs) in China over the next five years. BXGI’s fleet operations consist of more than 100,000 city buses. Upon conversion to EVs, a process that will start this year, it is estimated that this fleet will require a significant charging port infrastructure to accommodate the energy demand, Ideanomics said in a statement.  The value of replacing the BXGI fleet will reach the equivalent of several billion dollars in local currency over the five-year period, the company added.

O3 Mining Inc (CVE:OIII) has moved a step closer to production at the Marban project in the Abitibi gold district of Québec as it commissioned a preliminary economic assessment (PEA) for the site. The group has hired Ausenco Engineering Canada Inc to complete the study, with the result expected to be available in the third quarter of this year. "We are very pleased with the pace at which we were able to maximize the value of our projects and move closer to our goal of bringing the Marban Project into production as part of our staged development strategy," O3 Mining's CEO Jose Vizquerra said in a statement.

Arcadia Biosciences Inc (NASDAQ:RKDA) announced Thursday that it has been granted a pair of patents related to extending the shelf life of whole wheat by the US Patent and Trademark Office. The company said it has been also awarded two notices of allowance for two additional patents extending earlier claims around the extended shelf life of wheat and reduced-gluten grains. The new patents bring the number in the company’s GoodWheat portfolio to 22. "These patents further strengthen our intellectual property and technology portfolio, as well as our position as a leader in improving the nutritional value of crops," Arcadia's chief technology officer Randy Shultz said in a statement.

CB2 Insights Inc (CSE:CBII) (OTCQB:CBIIF) told shareholders on Thursday that the company reached profitability in April. The Toronto-based company said that it hit a positive EBITDA on an unaudited basis during the month, in which the firm added patient visits increased by 25% at its network of corporate clinics across 12 US states. In a statement, CB2 CEO Prad Sekar pointed out that achieving positive EBITDA by Q2 was a commitment made to its shareholders and other company stakeholders over the last six months.

Mirasol Resources Ltd (CVE:MRZ) (OTCMKTS:MRZLF) has said there may be some areas at its Los Amarillos project in Chile which warrant further exploration but that a trenching program had not yielded viable drill targets. The firm carried out a program of 21 trenches for a total of 1,128 metres (m), which showed that the mineralization was both sporadic and widely spaced, it said in a statement. The company also carried out an Induced Polarization (IP) survey in 13 lines with 50m station spacing (with test lines of 25m spacing) and most of the veined areas did not produce results, which could be used to target continuation of the veins under cover and at depth.

Great Panther Mining Ltd (TSE:GPR) (NYSEAMERICAN:GPL) said operations at its Tucano mine in Brazil have not been affected by news two of its employees there have tested positive for coronavirus (COVID-19). Both workers are stable, have mild symptoms, and remain in isolation monitored daily by the local health authority, the precious metals producer said, as it updated on activity at its mines, which span Brazil, Mexico and Peru.

PyroGenesis Canada Inc (CVE:PYR) said the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement of a debenture for $903,000, convertible into 3,225,000 shares at a conversion price of 28 cents per common share which matures on September 17, 2021, and carries an interest rate of 12.0% per annum with one placee.

Capstone Turbine Corporation (NASDAQ:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced that it has been invited to participate in the 5th Annual Oppenheimer Emerging Growth Virtual Conference on Tuesday, May 12, 2020. Due to the coronavirus (COVID-19) pandemic, and the ongoing need for social distancing measures, the meetings will be held telephonically, with Darren Jamison, Capstone's president and chief executive officer, along with Eric Hencken, its chief financial officer and chief accounting officer also available for one-on-one meetings throughout the day. Jamison commented:  “In light of these unprecedented circumstances with the COVID-19 pandemic, I look forward to the opportunity to discuss with current and potential shareholders, Capstone’s unique energy as a service business model and how we have adapted it as a result of the pandemic". Qualified institutional investors interested in scheduling a one-on-one conference call meeting with Capstone management are encouraged to contact their Oppenheimer sales representative or Capstone’s Investor Relations at cpst@integra-ir.com The corporate presentation materials will be available on the Investor Relations section of the Capstone Turbine website on the day of the event.

mCloud Technologies Corp. (CVE:MCLD) (OTCQB:MCLDF), a leading provider of asset management solutions combining IoT, cloud computing, artificial intelligence and analytics, has announced that it will report its earnings for full year 2019, including fourth quarter 2019, and first quarter 2020 before the market opens on May 26, 2020. A conference call to discuss the financial results for both the fourth quarter 2019 and first quarter 2020 will be held on May 26, 2020, at 5.30pm. ET. The conference call will include prepared remarks, including a virtual presentation and an outlook for the remainder of 2020, from Russ McMeekin, mCloud's chief executive officer, and Chantal Schutz, its chief financial officer. After the prepared remarks, the company will accept questions. To access the conference call by telephone, dial 647-427-7450 or 1-888-231-8191. Please connect approximately 10 minutes prior to the beginning of the call to ensure participation. The conference call will be archived for replay by telephone until, June 2, 2020 at midnight (ET). To access the archived conference call, dial 1-855-859-2056 and enter the reservation number 7668729. A live audio webcast of the conference call will be available at https://bit.ly/2W9FUYl. The webcast will be archived at the above website for one year.

Add related topics to MyProactive

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

NO INVESTMENT ADVICE

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

FOR OUR FULL DISCLAIMER CLICK HERE

Cabral Gold identifies new high-grade zone north of Medusa at Cuiu Cuiu...

Cabral Gold (CVER: CBR-OTC: CBGZF) CEO Alan Carter joined Steve Darling from Proactive with news drilling on the Cuiu Cuiu projects has turned up another high-grade zone. Carter telling Proactive about this new zone located North of the Medusa Target. He also told Proactive about a new drill...

20 minutes ago

15 min read