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NA Proactive news snapshot: BevCanna Enterprises, Cabral Gold, VR Resources, The Valens Company, Metalla Royalty & Streaming, Namaste Technologies UPDATE …

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

NA Proactive news snapshot:
Your daily round-up from the world of Proactive

BevCanna Enterprises Inc (CSE:BEV) (OTCMKTS:BVNNF) said Monday that it has completed the acquisition of privately owned Exceler Holdings to gain a stronger foothold in Europe and Asia.  The Vancouver-based cannabis-infused beverages company closed the arm's length sale by giving shareholders in Exceler some 2 million BevCanna shares. The company said it did not pay a finder's fee while making the acquisition. According to BevCanna, the deal gives it access to Exceler’s multiple distribution points across Europe and Asia ahead of its CBD beverage products launch in the European Union.

Cabral Gold Inc (CVE:CBR) (OTCPINK:CBGZF) shares nudged higher as it revealed it had closed the first tranche of a previously announced over-subscribed placing, raising over C$3 million gross to advance its flagship Cuiú Cuiú project in Brazil. The group issued over 25.9 million shares at C$0.125 a throw for gross proceeds of $3,249,675. "This financing will allow Cabral Gold to initiate new drill programs aimed at testing recently identified high-grade drill targets at Alonso, Medusa and Cilmar, as well as allowing us to further test recently identified high-grade zones within the MG and Central deposits at Cuiú Cuiú," said Alan Carter, CEO of Cabral Gold, in a statement.

VR Resources Ltd (CVE:VRR) (OTCQB:VRRCF) is expanding its flagship Big Ten gold project in Nevada with the acquisition of a neighbouring silver property in a cash-and-share deal. The Vancouver-based company announced it was acquiring the Reveille silver property, which is located nearly 75 kilometres along the same trend as Big Ten. Reveille is situated along the Walker Lane mineral belt in west-central Nevada where numerous epithermal gold and silver deposits spurred nearly 160 years of production in the region.

The Valens Company Inc (TSE:VLNS) (OTCQX:VLNCF), formerly known as Valens GroWorks Corp, announced that the company has completed its rebrand and will begin trading under its new name on Wednesday. "Since announcing our rebrand at the end of 2019, we have been working tirelessly to bring on new partners and launch innovative product lines and brands poised to dominate the oil-based market in Canada,” CEO Tyler Robson said in a statement. “As we continue to expand and diversify our platform, we look to further demonstrate to the market that we are positioned for long-term global success with our bespoke cannabinoid-based product development and manufacturing capabilities.”

Metalla Royalty & Streaming Ltd (CVE:MTA) (NYSEAMERICAN:MTA) and Coeur Mining Inc (NYSE:CDE) have entered into a bid letter with a syndicate of underwriters who will buy on a “bought deal” basis 2.4 million common shares of Metalla currently held by Coeur. The shares will be sold at US$5.30 each and Coeur will garner about US$12.72 million in proceeds. In a statement Monday, Metalla said it will not receive any proceeds from the secondary offering. In addition, Coeur has granted the underwriters an over-allotment option to purchase up to an additional 15% of the number of shares of Metalla sold in the offering for up to 30 days after the closing. If the over-allotment option is exercised in full, the total gross proceeds to Coeur will be US$14,628,000. Coeur currently owns 5,241,310 shares, representing approximately 14.9% of the issued and outstanding stock of Metalla on a non-diluted basis.

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) announced Monday its subsidiary CannMart Inc has been granted an exclusive license by IGNITE International Brands Ltd (CSE:BILZ) (OTCQX: BILZF) to utilize certain brand trademarks on cannabis-based products for sale in Canada. In addition, CannMart has received approval from Alberta Gaming, Liquor & Cannabis (AGLC) and the Ontario Cannabis Retail Corporation operating as the Ontario Cannabis Store (OCS) to begin offering Cannabis 2.0 products. Namaste said CannMart's first offering will be a variety of vape cartridges.

Orgenesis Inc (NASDAQ:ORGS) announced that it has signed a non-binding preliminary term sheet with Leidos, a Fortune 500 IT an engineering company, to develop and potentially gain marketing approval of its drug Ranpirnase from the US Food and Drug Administration as a coronavirus treatment. Ranpirnase is an antiviral agent that could potentially treat SARS-CoV-2, the virus that causes the disease COVID-19. Orgenesis added the drug to its portfolio when it acquired Tamir Biotechnology Inc in April. It catalyzes the degradation of RNA and mediates several essential biological activities, including the regulation of cell proliferation, maturation, differentiation and cell death. More than 1,000 patients have been dosed with Ranpirnase in previous cancer/mesothelioma trials, and the drug has shown a strong safety and tolerability profile.

Biocept Inc (NASDAQ: BIOC) announced Monday the availability of 10,000 nasopharyngeal specimen collection kits used in the RT-PCR testing for the SAR-CoV-2 virus that causes the COVID-19 disease. Collected specimens will be shipped overnight to Biocept's high-complexity, CLIA-certified, CAP-accredited and BSL-2 safety level laboratory in San Diego with results returned to ordering physicians in an estimated 24 to 48 hours, the company said. "As previously reported, securing specimen collection kits to conduct RT-PCR COVID-19 testing has been challenging both for Biocept and other providers,” said CEO Michael Nall in a statement. “We have solved our initial supply chain challenge by obtaining the swabs, reagents and other components of these kits, assembling them, and making them available for physician ordering.” Nall said the company expects the Biocept-developed RT-PCR COVID-19 kits to be available in the third quarter of 2020.

Ideanomics Inc (NASDAQ:IDEX) says its electric vehicle subsidiary Mobile Energy Global (MEG) has rebranded its truck and specialty vehicle unit as Medici Motor Works (MMW) as it expands the latter's footprint into North America, South East Asia, Middle East, and Korea. China-based MEG's three other business units, aside from the heavy truck business, are buses and coaches, logistic vehicles, and taxis. Ideanomics also revealed that its MEG subsidiary had secured an order from the city of Neijiang in Sichuan province. It is for 200 electric vehicles (EVs) valued at US$3.2 million. 

Mandalay Resources Corporation (TSE:MND) (OTCQB:MNDJF) on Monday unveiled encouraging exploration drilling results from its mines in Australia and Sweden, which underscore the potential to continue to expand these operations. The metals miner has been carrying out regional testing and resource extension work at the Costerfield mine in Australia and the Björkdal operation in Sweden. Notably, a first hole at the Brown’s prospect, 2.3 km east from the high grade Youle mine at Costerfield, returned a highly significant intersection of 14.5 grams per ton (g.t) gold, over a true width of 1.27 metres (m) and 23.5 g/t gold over 0.12 metres, the firm said.

Canafarma Hemp Products Corp (CSE:CNFA) announced on Monday that it will launch two new hemp oil-infused chewing gums in July this year. The move expands the hemp-focused group's flagship YOOFORIC chewing gum brand, under its confectionary line, it said in a statement Monday. YOOFORIC RISE, a chill mint flavor gum, contains a unique blend of full spectrum hemp oil, with naturally occurring CBD, Green Tea, Omega-3 Fatty Acids (DHA and EPA), L-tryptophan, Vitamin B3, Vitamin C, and Magnesium Citrate, the firm said. The second new gum is YOOFORIC PILLOW TALK, infused with a blend of hemp extract, melatonin, L-Tryptophan and Vitamin B3. It is aimed at helping a person calm their mind for a relaxed night of sleep.

FSD Pharma Inc (NASDAQ:HUGE) (CSE:HUGE) announced Monday that a Phase 1 study of ultramicronized palmitoylethanolamide (PEA), or FSD201, found the drug “to be safe and well tolerated.” The company noted that mild and self-limiting side effects were reported and were deemed unlikely to be related to the study of the anti-inflammatory drug. In addition, there were no abnormal laboratory findings or ECGs observed during the study and no serious adverse events were reported. And no subjects withdrew due to an adverse event and all eligible subjects completed all doses.  CEO Dr Raza Bokhari said the company will submit the top-line results from the randomized, double-blind, placebo-controlled study for publication in a peer-reviewed journal and to launch a Phase 2a proof-of-concept trial of FSD201 for the treatment of COVID-19.

NetCents Technology Inc (CSE:NC) (OTCQB:NTTCF), a cryptocurrency payments company,  announced Friday that it received an industry-leading US$1.4 billion credit facility to fund merchant settlements, thus making it easier to hold crypto positions. The company negotiated the deal — which it said is the largest credit line ever granted to a cryptocurrency payments company —  in order to increase the potential of cryptocurrency as a means of exchange. By using the facility to pay merchant settlements (read: the means by which merchants are paid by consumers) NetCents believes it can eliminate the volatility risk that makes holding crypto positions more difficult.

GR Silver Mining Ltd (CVE:GRSL) (OTCQB:GLYXF) has reported more encouraging drill results from its Plomosas silver project in Mexico, which showed high grade mineralization outside the previously exploited Plomosas mine area. A silver, gold, lead, zinc underground mine operated at this area of the asset from 1986 to 2001 and GR Silver is continuing to review this area and the whole project, using historical drill data along with its own findings, the firm said in a statement. On the findings from its latest drilling, GR Silver said it found that gold and silver enriched veins and breccias occur in vertical and shallow-dipping fault zones on the footwall and hanging wall of the existing polymetallic mineralized zone, revealing potential extensions for a future resource estimation.

HighGold Mining Inc (CVE:HIGH) (OTCQX:HGGOF) said its shares have started to trade on the OTCQX Best Market in the US on Monday. The gold exploration company listed on the TSX Venture Exchange in September 2019 after spinning out from junior Constantine Resources Ltd (CVE:CEM), while its shares began trading on the OTCQB Market in December 2019. "HighGold Mining looks forward to continuing to build its investor base in the US by trading on OTCQX the highest market tier and increased participation in the virtual investor events sponsored by OTC Market Group," CEO Darwin Green said in a statement.

Ipsidy Inc (OTCQB:IDTY) has signed a partnership agreement with PharmacyID to create an identity verification solution for the Australian market. PharmacyID, which serves some 2,500 pharmacies with its identity verification platform, is seeking to enhance its current customer verification processes by combining Ipsidy’s trusted facial biometric, digital onboarding capabilities with their existing in-person verification of identity, according to a statement Monday. As Iidentity theft and online fraud increase, identity verification is essential in order to know who you are dealing with, as society moves towards ever more remote interaction and we become increasingly reliant on e-commerce and the Gig economy. Ipsidy said PharmacyID aims to ensure Australian organizations, businesses and individuals are protected from the growing threat of identity fraud, by providing trusted face-to-face verification of identity with original documents, through its vast network of local pharmacies. Under the agreement, PharmacyID will integrate with Ipsidy’s IDaaS platform to add Ipsidy’s mobile biometric identity services to its platform. 

Mota Ventures Corp (CSE:MOTA) (OTCPINK:PEMTF) revealed a new agreement with Orgeon-based Sweet Earth Holdings Corp (CSE:SE) to sell CBD dog treats. Under the letter of intent, Mota Ventures will sell Sweet Earth’s pet products under its direct consumer brand, Nature’s Exclusive, in the US. Mota said it has initially chosen the Beef and Cheddar Potato CBD dog treats, a popular Sweet Earth product, with packaging to be customized to Nature’s Exclusive branding.

WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) said it had expanded its medical cannabis product portfolio with the launch of its strain-specific ‘Aurum’ vapes. The product line, which is made in-house at WeedMD’s extraction hub CX Industries, will be available to medical patients in coming weeks, the group said. It will also be rolled out into the adult-use market under the Color Cannabis brand in the third quarter of this year, said WeedMD. The product will initially launch with the Ghost Train Haze strain, followed by Mango Haze and soon after a high CBD-strain format. "Our Cannabis 2.0 strategy evolved after thoughtful consideration of our medical clients’ need for relief from specific indications that may require precise cannabis dosing via alternate delivery methods,” Angelo Tsebelis, the chief executive of WeedMD, said in a statement.

True Leaf Brands Inc (CSE:MJ) (OTCQX:TRLFF) said it obtained orders from the Supreme Court of British Columbia to extend the stay of proceedings in the company’s restructuring process to July 31, 2020. The wellness company for people and pets announced a restructuring plan early in April and is is soliciting offers for its assets, including a 40-acre land package in Lumby, British Columbia, which houses an 18,000-square foot purpose-built cannabis facility and its pet supplement business.

NexTech AR Solutions Corp (CSE:NTAR) (OTCQB:NEXCF) has signed a $135,000 one-year contract to provide its InfernoAR virtual events and video conferencing platform to events provider Real Asset Media. Real Asset Media creates forums to connect local market investment expertise with sources of investment capital in the UK, Germany, France, the Netherlands, Scandinavia, as well as in the US, North America, Asia and the Middle East. The firm plans to launch REALX.global, a virtual conference and exhibition for the commercial real estate markets, in September 2020.

TraceSafe Inc (CSE:TSF) (OTCMKTS:UTOLF) announced that Singaporean construction firm Boustead Projects E&C Pte Ltd will use the company’s location management technology as it reopens its construction project sites. The agreement helps Boustead, one of the largest construction companies in Singapore, to safely account for its employees in the event of any confirmed positive cases of coronavirus, or COVID-19, as part of a set of criteria for safe reopening outlined by the Singapore Building and Construction Authority. For Canada’s TraceSafe, the deal represents the first enterprise contract tracing deployment of its location management product suite AllSafe. "We are thrilled that Boustead has agreed to deploy our technology at its worksite for their workers as they reopen,” TraceSafe Technologies Inc CEO Dennis Kwan said in a statement Monday. “Singapore is one of the most rapidly industrializing countries in the world. We believe that TraceSafe solutions are well suited for this application.”

Marrone Bio Innovations (NASDAQ:MBII), a producer of sustainable plant health solutions, said Monday that it received notice from the Nasdaq that the company has regained compliance with the exchange’s minimum bid price requirement. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share. “We are pleased to announce to our shareholders that the Company has regained full compliance with Nasdaq’s continued listing requirements,” CEO Pam Marrone said in a statement. “With this matter now resolved, our officers and directors will continue to remain focused on driving growth and creating sustainable shareholder value over the long term.”

HIRE Technologies Inc (CVE:HIRE) said it had agreed with RSI International Systems Inc (NEX:RSY.H) to terminate a previously announced merger deal. The Toronto-based staffing company told shareholders that neither party will pay a termination fee as the decision was mutual. RSI International sold its only business asset, RoomKeyPMS, in early 2019 and is now seeking to use the net sale proceeds to invest in a new business.

RedHill Biopharma Ltd (NASDAQ:RDHL) said Monday that its chief business officer Guy Goldberf will present the biopharmaceutical company’s story at the Virtual Life Sciences Investor Forum on Thursday, June 25, 2020, at 10am EST. The live online presentation allows audience participants to ask questions in real time. The session is accessible via Red Hill’s website at http://ir.redhillbio.com/events. A replay of the presentation will be up on the site for 30 days.

 

 

 

 

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