NA Proactive news snapshot: First Mining Gold, Fidelity Minerals, Revive Therapeutics, 1933 Industries, LeanLife Health, Asterion Cannabis, American Resources, Talon Metals 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

First Mining Gold Corp (TSE:FF) (OTCQX:FFMGF) is helping to create a new gold-producing mine in Ontario with a new deal announced Wednesday afternoon. The explorer signed a blockbuster deal that sees it merge its Goldlund asset with the adjacent Goliath project owned by Treasury Metals Inc (TSE:TML) (OTCQX:TRSMF). The transaction forms a district scale, multi-million-ounce gold development project that is poised for production in the mining-friendly province.

Fidelity Minerals Corp (CVE:FMN) said it had closed its private placing, announced in May, raising gross proceeds of C$242,000, having issued 9.68 million units at C$0.025 a throw. The Peru-focused group said 4 million units were subscribed to by Lions Bay Capital Inc, a control person, and 2.9 million by management. Each unit consists of one common share and one transferable share purchase warrant, with each warrant exercisable into a further share at C$0.05 per share until December 17, 2021.

Revive Therapeutics Ltd (CNSX:RVV) (OTCMKTS:RVVTF) said that it has filed its clinical trial application (pre-CTA) with Health Canada to open discussions on using its long-established rheumatoid arthritis treatment Bucillamine to treat coronavirus (COVID-19) patients.  The Toronto-based specialty life sciences company said it will have its Pre-CTA meeting with Health Canada this week. “The company expects to initiate a clinical study as soon as possible following receipt of regulatory clearance from Health Canada,” the company said in a statement. Additionally, Revive is finalizing its Investigational New Drug (IND) package for the US Food and Drug Administration for the proposed Phase 3 confirmatory clinical trial to evaluate Bucillamine in the treatment of patients with mild-to-moderate COVID-19.

1933 Industries Inc (CSE:TGIF) (OTCQX:TGIFF), a vertically integrated cannabis consumer packaged goods company, will hold an extraordinary meeting of holders of 10% senior unsecured convertible debentures due September 14, 2021. The virtual meeting will be held on June 29 at 10 am PST. The debenture amendments to be considered are the following: amend the conversion price applicable to the debentures from $0.45 to $0.10 per share; amend the price at which the company may require a forced conversion of the debentures from $0.70 to $0.15 per share; and authorize the company to pay the interest due on the Debentures in cash or through the issuance of its common shares at a price of $0.10 per share.

LeanLife Health Inc (CSE:LLP) has named natural health product industry veteran Gavin Mah as its new chief operating officer (COO) as the group seeks to take its sales and marketing efforts to the next level. Mah has been working as an external consultant for the company since the beginning of this year and his new role takes effect from June 1. Mah, for seven years, served as director of Canadian Regulatory Affairs at Nature's Way, a leading health company which sells its many nutritional and dietary supplements, including its Omega-3 products, through a variety of channels such as Walmart, noted the company. He was instrumental in the acquisition by Nature's Way and its parent company Schwabe Pharma (Germany) of Ascenta Health, the leading Omega-3 fish oil manufacturer.

Asterion Cannabis Inc has announced a brokered private placement to raise up to C$10 million. In a statement Wednesday, the company said it intends to use the proceeds to finance pre-construct costs for about 40 hectares (99 acres) of cutting-edge greenhouses in Queensland, Australia, to produce high-quality medicinal cannabis.  Asterion said the money also will help it execute its early revenue strategic plan and list its shares on a recognized stock exchange while providing general working capital. Under the terms of the financing, Vancouver-based Asterion is offering nearly 6.7 million units at C$1.50 per unit.

American Resources Corporation (NASDAQ:AREC), a raw materials supplier, announced Wednesday that it has added a third reclamation crew to its ongoing environmental restoration efforts. So far, American Resources has reclaimed or is working to reclaim 25 thermal mining sites with an associated environmental reclamation bonding liability amount of more than $16.7 million. Historically, the company said, the coal industry has deferred environmental reclamation liabilities for decades. But the company believes that the work is necessary and that by focusing on reclamation now, the company can reduce its long-term holding costs.

Talon Metals Corp (TSE:TLO) (OTCMKTS: TLOFF) reported the highest nickel and copper grades of its 2020 drill campaign at its Tamarack project in Minnesota. The exploration firm intersected 7.1 metres grading 8.3% nickel, 3.3% copper and 0.2% cobalt, for 10.2% nickel equivalent or 27.1% copper equivalent starting at 578.5 metres in addition to 0.7 grams per ton (g/t) palladium, 0.8 g/t platinum and 0.4 g/t gold. The intersections included 2.5 metres of massive sulphides grading 9.7% nickel, 4% copper and 0.2% cobalt starting at 580 metres as well as 0.8 g/t palladium, 1.3 g/t platinum and 0.8 g/t gold for 12% nickel equivalent or 32% copper equivalent.

FSD Pharma Inc (NASDAQ:HUGE) (CSE:HUGE.CN) (FRA:0K9A) said Wednesday that the US Food and Drug Administration (FDA) has given the company permission to submit an Investigational New Drug (IND) application for the use of its lead candidate FSD-201, or anti-inflammatory ultra-micronized-palmitoylethanolamide (PEA), to treat coronavirus (COVID-19) patients. The company said that “severe COVID-19” the disease caused by the SARS-CoV-2 virus, is characterized by an “over-exuberant inflammatory response” that may lead to a cytokine storm and ultimately death. FSD Pharma is focused on developing FSD-201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients. In a statement, FSD Pharma executive co-chairman and chief executive Raza Bokhari said: “FDA’s permission to design a proof-of-concept study in COVID-19 patients evaluating clinical doses of FSD-201 is a paradigm shift for FSD Pharma and is the result of outstanding work conducted by Dr Edward Brennan, president FSD BioSciences, and his team.”

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) has revealed record revenue and gross profit for the month of May as demand for its new virtual events platform surges. The augmented reality company saw revenue for the month more than double year-over-year to C$1.3 million and gross profit nearly quadruple to C$800,000. “We are firing on all cylinders and having our best month of revenue ever speaks to our sound business strategy and model,” CFO Kashif Malik said in a statement. “I am extremely proud of the team and we are just getting started.”

AgraFlora Organics International Inc (CSE:AGRA) (OTCPK:AGFAF) said its subsidiary, The Edibles and Infusions Corporation (EIC) has submitted its Site Evidence Package to Health Canada for a standard processing license at its edibles manufacturing facility in Winnipeg, Manitoba. The company currently holds a research and development license that it intends to use to develop and perfect the recipes and formulations for client edibles, increasing customer satisfaction, reducing operational risk, and allowing the company to move into revenue quickly once the standard processing license is obtained. Although there is no guarantee on licensing timelines, AgraFlora said its management estimates that the first revenue post-licensing will be delivered in the fourth quarter of 2020.

Versus Systems Inc (CSE:VS) (OTCQB:VRSSF) (FSE:BMVA) has updated investors on what it said are “positive recent corporate developments” so far in 2020. The company, which develops an in-game prizing and promotions engine allowing game publishers and developers to offer in-game prizing across mobile, console, PC games, and streaming media, said that in April and May it signed “multiple deals that will drive both revenue and user growth”. “New agreements with Animoca Brands, Kast and HP will bring the potential reach of the Versus rewards platform to over 10 million machines by the end of 2020”, Versus said, adding that the deals will result in “millions of dollars in revenues from the brands” across the second and third quarters of the year as well as “additional and consequential revenues earned from the new users generated by these brand engagements.”

PreveCeutical Medical Inc (CSE:PREV) (OTCQB:PRVCF) said it has successfully concluded its cannabinoid Sol-gel delivery program which looked at methods of delivering cannabinoid extracts to the central nervous system using soluble gels. PreveCeutical’s chief science officer Dr Mak Jawadekar called the completion of the program a “very significant milestone” for the Vancouver-based company. “We are very excited about the therapeutic opportunities that will be derived from the program and look forward to progressing them through proof of concept studies,” Jawadekar said in a statement.

Calyxt Inc (NASDAQ:CLXT), the plant technology firm, has told investors that its plan to bring its new high oleic low linolenic (HOLL) soybean to market has been boosted by a ruling from the United States Department of Agriculture (USDA). The group noted that the soybean been classed as a 'non-regulated article' under the process by the Biotechnology Regulatory Services of the Animal and Plant Health Inspection Service (APHIS), which is an agency of USDA. The Minnesota-based firm said its new HOLL soybean, which has been developed using its proprietary gene-editing technology TALEN, is expected to launch as early as 2022.

Gatling Exploration Inc (CVE:GTR) (OTCMKTS:GATGF) announced Wednesday that it has intersected high-grade mineralization in two new holes at its Larder gold project in the prolific Abitibi greenstone belt of northern Ontario. The Canadian gold exploration company said the holes, which include 85.1 gram per ton (g/t) gold (Au) over 3 meters and 8.4 g/t Au over 1.5 meters, further extend the strike length and up plunge mineralized trend at the Bear deposit, one of Gatling's three promising deposits along a 4.5 kilometer trend at Larder. In a statement Gatling Exploration CEO Nav Dhaliwal said: “Gatling's 2020 ice drilling program has been a great success and we are thrilled with the remarkable strength of the mineralization we have encountered, as well as the 250-meter up plunge and farthest eastern strike length extension to date.”

Phunware Inc (NASDAQ:PHUN has announced plans to deploy its mobile Smart City solution in Pasadena, Texas to improve citizen engagement and address critical challenges due to the coronavirus (COVID-19) pandemic. In a statement, the Austin-based company said the contract marks the first deployment of its Smart City solution, which was announced to the public in April. Phunware’s Smart City solution runs on its Multiscreen-as-a-Service (MaaS) platform and can help city officials quickly identify, locate, and engage employees, citizens, first-responders, volunteers, and even local businesses.

American Battery Metals Corporation (OTCQB:ABML) unveiled a new name on Wednesday to better reflect its focus on primary battery recycling technology. The firm will now become known as American Battery Technology Company, a new identity that showcases its work in lithium-ion battery recycling. In a statement, CEO Doug Cole told shareholders that the new name more accurately conveys its primary focus, mission and strategic vision.

Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) said its operations have restarted again in Mexico, with mining and processing beginning once more at the Topia mine in Durango state. Processing at its other asset in the country  - the Guanajuato Mine Complex - is expected to start next week, the precious metals miner said. The move comes amid the coronavirus (COVID-19) pandemic and a Mexican government order adding mining to the list of 'essential services'.

Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) is poised to get exploring again at its flagship Brett gold property near Vernon in British Columbia, the group revealed on Wednesday. In a statement, the firm told investors it was planning a drone-based magnetometer survey in a bid to further extend a previously identified anomaly west of the Main Zone at the project. The Brett epithermal property spans 20,025 hectares and historical drill intercepts include up to 168 grams per ton (g/t) gold over 1.3 metres (m) core length, while visible gold is common at the property.

GGX Gold Corp (CVE:GGX) (OTCMKTS:GGXXF) told investors on Wednesday it has now acquired 100% of its flagship Gold Drop project in the famous Greenwood mining camp in southern British Columbia from Ximen Mining (CVE:XIM) (OTCMKTS:XXMMF). In a statement, the firm also announced a placing to raise C$300,000 gross to fund continued exploration, including diamond drilling and trenching at Gold Drop. The non-brokered private placement will see GGX issue 4 million units at C$0.075 each for gross proceeds of C$300,000. Each unit comprises one share and one full share purchase warrant, which may be exercised for two years at C$0.12 per share. Ximen retains a 2.5% net smelter returns (NSR) royalty on Gold Drop, which GGX can reduce to 1.5% by paying C$1 million.

Renaissance Gold Inc (CVE:REN) (OTCQB:RNSGF) revealed that AngloGold Ashanti has made the final payment of US$2.4 million to acquire a 100% interest in the Silicon project in Nevada. The company said it will retain a 1% net smelter return royalty on the project, having entered into an agreement with AngloGold in 2017 which provided the option to acquire a 100% interest in the project by paying Renaissance US$3 million by June 21, 2020. In a statement, Renaissance Gold president and chief executive Robert Felder said: "We plan to put the money to work immediately in support of our generative exploration program, to identify and acquire strong targets."

Fidelity Minerals Corp (CVE:FMN) said the TSX Venture Exchange has accepted for filing documentation relating to the share purchase and sale agreement, dated September 21, 2019, between Cerro Dorado S.A.C, which is 100% beneficially owned by the company, certain individual registered shareholders of Cerro Dorado directed by the company and certain arm's-length individual purchasers regarding the arm's-length sale of Cerro Dorado to the purchasers for an aggregate cash consideration of US$1.43 million. The exchange has been advised that, to date, the company has received US$500,000 of the cash consideration, with the further scheduled payments to be made of: (i) US$300,000 following the Peruvian coronavirus (COVID-19) lockdown; (ii) US$310,000 on June 21, 2020; and (iii) US$320,000 on September 21, 2020. The exchange has been advised that the final transfer of Cerro Dorado to the purchasers will complete at the closing of the transaction, which is expected to occur on September 21, 2020, concurrent with the final payment of cash consideration. A US$95,953 finder's fee is payable to an arm's-length finder in connection with the disposition, of which US$37,500 has been paid with funds received and the remaining amount will be paid pro-rata as further funds are received.

TIMIA Capital Corporation (CVE:TCA) has announced the results of its 2020 Annual Shareholder Meeting (AGM). Approximately 65% of the total outstanding shares (or 26,855,120 shares) were represented at the AGM with a substantial majority voting in favour of the items on the agenda, being the election of Jan Lederman, Paul Geyer, Robert Napoli, Howard Atkinson, David Demers, Thealzel Lee and Mike Walkinshaw as directors and the appointment of Manning Elliott LLP, Chartered Professional Accountants, as auditors of the company.

Milestone Scientific Inc. (NYSEAMERICAN:MLSS), a developer of computerized drug delivery instruments that provide painless and precise injections, has announced that it will be presenting at the 2020 Virtual Summer Summit being held on June 9-12. The group said its interim chief Executive officer, Leonard Osser is scheduled to present on Tuesday, June 9 at 11.30am Eastern Time. The presentation will be webcast live on the conference event platform - access details via: https://www.webcaster4.com/Webcast/Page/2038/35125 - and one-on-one meetings will be held throughout the conference via video conference calls. The Investor Summit is an exclusive, independent conference dedicated to connecting smallcap and microcap companies with qualified investors.

Medexus Pharmaceuticals Inc. (CVE:MDP) (OTCQB: PDDPF) has announced that it will be presenting at the 2020 Virtual Summer Summit being held on June 9-12. The group said that its CEO, Ken d’Entremont, CEO and CFO Roland Boivin are scheduled to present on Wednesday, June 10 at 10.20am Eastern Time. The presentation will be webcast live on the conference event platform - which can be accessed here: https://www.webcaster4.com/Webcast/Page/2038/35128 - and One-on-one meetings will be held throughout the conference via video conference calls.

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


Nova Royalty begins trading the TSE Venture under the ticker “NOVR”

Nova Royalty (CVE: NOVR) CEO Alex Tsukernik joined Steve Darling from Proactive with news the company has begun trading on the Toronto Stock Exchange Venture under the ticker “NOVR” That after an influx of cash from Beedie Capital. Tsukernik telling Proactive about the company that looks to find...

10 minutes ago

14 min read