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NA Proactive news snapshot: Vert Infrastructure, Surge Holdings, GlobeX Data, Mandalay Resources, VolitionRx UPDATE ...

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

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Your daily round-up from the world of Proactive

Vert Infrastructure Corp (CSE:VVV) (OCTMKTS:CRXPF) has closed on the sale of property in Humboldt, California, for gross proceeds of US$377,000 ($C527,800). Net proceeds were distributed to the first mortgage holder of about $200,000 and the balance of $177,000 to Plaza Capital/KW Partners to reduce the first lien loan on all of Vert Infrastructure's assets. The company has also accepted the resignation of board member Michael Yorke from the board. And to further the company's debt reduction plan, it has issued 5,860,000 shares to settle debts to previous directors, officers, and consultants and 400,000 shares for interest on the secured convertible debenture held by KW Partners.

Surge Holdings Inc (OTCQB:SURG), a holding company with operations in the fintech, telecommunications and media sectors, announced preliminary first quarter sales numbers on Wednesday revealing revenue that quadrupled year-over-year. The company saw revenue of $15.8 million in the quarter, a 307% increase year-over-year from $3.9 million in the same period of 2019. CEO Brian Cox attributed the jolt in revenue to the investments Surge made in infrastructure last year.

GlobeX Data Ltd (CSE:SWIS) (OTCQB:SWISF) closed a private placement Tuesday worth C$102,126.44, the company announced in a statement. The cybersecurity company offered 851,053 units, each containing one common share and one share purchase warrant, at a price of C$0.12 per unit. A warrant entitles the holder to purchase an additional share at a price of C$0.13 for one year. The company has the right to move up that date if the company trades at or above C$0.15 on the CSE for 10 consecutive days.

Mandalay Resources Corporation (TSE:MND) (OTCQB:MNDJF) announced the results of its annual general meeting held on Wednesday in Toronto. The company re-elected its seven-member board, including Bradford Mills as chair and Abraham Jonker as lead independent director. The firm also passed its omnibus equity incentive plan and re-appointed Ernst & Young LLP as auditor.

VolitionRx Limited (NYSEAMERICAN:VNRX) announced Wednesday the pricing of a public offering it hopes will raise up to $13.8 million to support the epigenetics company’s continued product development and clinical studies. The Austin, Texas-based company is offering 4,365,000 shares of common stock at a price to the public of $2.75 per share. The company intends to use the money from the offering, that closes on May 22, for continued product development, clinical studies, product commercialization, working capital, and other general corporate purposes, including potential strategic acquisitions. The offering comes as the company actively develops a coronavirus (COVID-19) triage test using its flagship Nu.Q test (normally used to detect cancer biomarkers) to predict the likelihood that a positive individual will develop complications and severe disease. 

Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) said Wednesday that it had closed a previously announced bought deal financing that raised S$16.1 million. Proceeds from the offering will go towards exploration programs near its Tucano gold mine in Brazil as well as further afield in the region. "This financing provides additional balance sheet strength to deliver our 2020 objectives and allows us to advance the exploration programs underway at Tucano, where we have 55,000 metres of drilling planned for 2020,” CEO Rob Henderson said in a statement thanking participants for their support.

AgraFlora Organics International Inc (CSE:AGRA) (OTCPINK:AGFAF) said Wednesday that its wholly-owned subsidiary, Sustainable Growth Strategic Capital Corp (SGSC), a licensed cannabis company, has struck an extraction partnership for hemp processing with a top tier extractor in Quebec. In a statement, AgraFlora said the partnership is with Greater Toronto Area-based SGSC’s joint venture partner Micro C45 Inc, a Canadian hemp company that has developed a post-harvest mechanical separation process for hemp biomass that results in higher extraction values. Under the terms of the agreement, the supply partners will deliver to the extractor 44,000 kilograms of hemp biomass for crude and distillate extraction in four installments over six months. Separately, the company revealed it intends to complete a non-brokered private placement of up to 26,666,667 units at a price of 7.5 cents per unit for gross proceeds of $2 million.

Phunware Inc (NASDAQ:PHUN) is partnering with Hewlett Packard Enterprise Company (HPE) (NYSE:HPE) to help healthcare providers better engage their patients. Under the tie-up, the company will offer HPE’s healthcare customers a digital front door on mobile by integrating Aruba Networks’ mobility solutions with Phunware’s Multiscreen-as-a-Service (MaaS) healthcare products and solutions. Founded after parent Hewlett-Packard split in 2015, HPE offers a global, edge-to-cloud Platform-as-a-Service (PaaS) that includes both Aruba’s wireless solutions and the Meridian Platform. 

HighGold Mining Inc (CVE:HIGH) (OTCQB:HGGOF) has unveiled encouraging drill results from the first half of this year's program at its gold projects in the well-known Timmins camp in Ontario. Around 2,500 metres (m) in 12 diamond drill holes were completed at the Munro-Croesus and Golden Mile properties before the program was suspended due to the coronavirus pandemic, the firm said. A highlight at Munro-Croesus was a vein hit 80m southeast of the historic shaft returning 29.1 grams per tonne (g/t) gold over 0.30m at a downhole depth of 90.7m in one hole.

CanaFarma Hemp Products Corp (CSE:CNFA) (FRA:4K9) has outlined the metrics-based analytical approach it channels to ensure that its sales efforts continuously boost efficiency and contribute to the bottom line. In a statement on Wednesday, the Vancouver-based multifaceted hemp products brand company said it takes a “very methodical,” metrics-based “analytical approach” to bringing products to market. “By testing in a microcosm, our marketing analysts are able to decipher which channels are generating the strongest results,” the company said in a statement.

Tocvan Ventures Corp (CSE:TOC) has revealed several new targets on its Pilar gold-silver project in Mexico. The junior explorer said the new targets are the result of geophysical surveys conducted on the northwest section of the property with a large degree of historic data. The induced polarization, or IP, survey returned new mineralization targets, extended mineralization zones and highlighted the continuity of geological trend. In a statement, Tocvan told shareholders that the analysis justified the pursuit of targets in the surveyed area and allows for the calibrated geophysical model to be applied on the lower section of the property.

Auryn Resources Inc (TSE:AUG) (NYSEAMERICAN:AUG) said it has reinterpreted the geology at its Committee Bay gold project in Nunavut, yielding some positive results. The resource group told investors on Wednesday it has identified two significant fold hinge targets that have not yet been drilled at the Anuri and Amautik prospects at the property, which could host high-grade gold. "Over the past four exploration seasons we have built an incredible data set that has looked at the belt holistically," Michael Henrichsen, the group's chief operating officer and chief geologist said in a statement.

Empower Clinics Inc (CSE:CBDT) (OTCQB:EPWCF) has signed a non-binding term sheet to acquire a 10% interest in “Dosed,” an award-winning documentary film about treating anxiety, depression and addiction with psychedelic medicine. Under the terms of the deal, the company plans to issue C$75,000 worth of common shares to Golden Teacher Films Inc and pay $25,000 to the vendors.  Once the deal is done, Tyler Chandler and Nicholas Meyers — the film’s director and producer, respectively — will be offered consulting contracts to join a new company Empower is launching, Dosed Wellness Lt, which will function as Empower’s dedicated psychedelics division.

Power Ore Inc (CVE:PORE) said it has closed its non-brokered flow-through private placement raising C$300,000. The offering consisted of nearly 4.3 million flow-through units priced at C$0.07 per unit. Each flow-through unit consists of one flow-through common share and one half of one warrant exercisable at C$0.10 for a two-year period. Toronto-based Power Ore’s flagship asset is the Opemiska Copper Mining Complex project located near the town of Chapais, Quebec within the prolific Chibougamau region. The project consists of two historically producing mines that were previously owned and operated by mining giant Falconbridge, then bought by Swiss firm Xstrata.

Codebase Ventures Inc (CSE:CODE) (OTCQB:BKLLF) on Wednesday provided an update on its strategy toward the development of a transdermal delivery system for hydroxychloroquine as a potential treatment for patients with coronavirus (COVID-19). The company noted that the US National Institutes of Health (NIH) has launched a Phase IIb double-blind clinical trial to study hydroxychloroquine and azithromycin treatments in patients with COVID-19. The main objective of the study is to determine whether the drug combo can prevent hospitalization and death. Additionally, investigators will evaluate the safety and tolerability of the experimental treatment for people infected with SARS-CoV-2, the virus that causes the COVID-19 disease.

Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) has told investors it is aiming to start exploration at its Providence property in the Greenwood mining camp in British Columbia next week. Earlier this week, the group outlined its broad-brush exploration plans for the Canadian province this summer season, saying drilling in some areas was expected to start next month. At Providence, work is set to include rock sampling, trenching and diamond drilling, the firm said in a statement on Wednesday.

Fidelity Minerals Corp (CVE:FMN) said it has allowed the purchaser of the Cerro Dorado gold plant in Peru to defer a scheduled March payment after the country’s government extended its coronavirus lockdown measures to May 24, 2020. The company said the payment is expected to immediately follow the lockdown being lifted and Peruvian tax authority SUNAT is processing the export approval application for the purchaser's gold production. To date, Fidelity said it has received $500,000 of the $1.43 million total cash consideration and is expecting to net $822,789 from the sale.

Valens GroWorks Corp (TSX:VLNS) (OTCQX:VLNCF) said it has nominated three new independent directors to stand for election to its board at its annual and special meeting of the shareholders of The Valens Company to be held on June 12. The nominees include Karin A. McCaskill, former senior vice president, general counsel, and corporate secretary of Empire Company Limited and Sobeys Inc; Andrew Cockwell, managing partner and co-founder of Ursataur Capital Management, and Renee Merrifield, chief executive and founder of Troika Management Corp. Valens also said that two current directors, chief financial officer Chris Buysen and independent director Chris Irwin, will not stand for re-election to the board, however, Buysen will continue in his role as CFO on the executive team.

Nemaura Medical, Inc. (NASDAQ:NMRD), a medical technology company focused on developing micro-systems-based wearable diagnostic devices, has announced that its 2020 Omnibus Incentive Plan was approved by shareholder vote at the company’s annual general meeting on May 15, 2020, with a maximum of 1,000,000 shares of common stock made available for awards under the plan. “We want to thank our shareholders for approving our stock incentive plan which improves our ability to retain top staff and attract new senior-level management as we move into the revenue growth phase of our operations,” said Faz Chowdhury, CEO of Nemaura. “Based on positive data from an early head-to-head comparison with a major incumbent CGM (continuous glucose monitor), we believe sugarBEAT is well-positioned to disrupt the current status quo. As we execute on the global commercialization strategy of this innovative technology, having the right team in place will be critical to our success.”

Biocept, Inc. (NASDAQ:BIOC), a leading commercial provider of molecular technologies designed to provide physicians with clinically actionable information to improve the outcomes of patients diagnosed with cancer, has announced that Michael W. Nall, its president and CEO, will participate on the panel "COVID-19 Testing & Susceptibility - Clearing the Air" hosted by Maxim Group and M-Vest on Wednesday, May 27 beginning at 12.00pm Eastern time (9.00am Pacific time).  The panel will include an interactive discussion moderated by Jason McCarthy, Maxim Group senior managing director, Biotechnology.  Among the topics to be discussed are the availability of coronavirus (COVID-19) testing and types of testing.  The event is being held as the second installment in Maxim Group's COVID-19 Virtual Conference Series.  To access the panel discussion, please RSVP at https://m-vest.com/insights/blog/covid-19-virtual-conference

Mota Ventures Corp. (CSE:MOTA) (FSE:1WZ) (OTCMKTS:PEMTF), a direct to consumer provider of a wide range of CBD products globally, has said it will be hosting an investor conference call on Wednesday, May 20, 2020, at 1.15pm Pacific Time, with Mota Ventures management, Ryan Hoggan, the group's CEO and Joel Shacker, its president to discuss recent announcements. The call will be held on May 20. The call details are: Canada/USA Toll-free 1-800-319-4610; International Toll 1-604-638-5340; Germany Toll-free 0800-180-1954. For the conference call replay it is: Canada/USA Toll-free 1-800-319-6413; International Toll +1-604-638-9010; Replay Access Code: 4620.

Newgioco Group, Inc. (NASDAQ:NWGI), a global sports betting and interactive gaming technology company providing fully integrated, omni-channel sports betting software solutions, announced that its CEO and chairman, Mike Ciavarella will participate in a webinar presentation of Regulated Esports Gambling: The New Frontier, to be held on Thursday, May 21, 2020 at 12.00pm EDT/ 9.00am PDT. An expert panel of speakers will be representing different perspectives of the esports industry which is comprised of Ciavarella;  Becky Harris - Board of Directors, PointsBet Holdings Limited);  Scott Burton - CEO, Askott Entertainment Inc.); and Nicholas Heaney - CEO, Picklebet (Puntaa Pty. Ltd.). The panel will explore how government-mandated stay-at-home orders are affecting the industry and if it will cause change in the regulation of betting on esports events. The webinar is hosted by Alex Igelman, Founder of Esports Capital Corp./Principal & Co-Founder of Spectrum eSports Advisors and Gerold Libby, Partner at Zuber Lawler will be the moderator. Registration for the event is free of charge and available through the following link: https://zoom.us/webinar/register/WN_nn-g6-KgRgiF240q_quXZg

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