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NA Proactive news snapshot: Milestone Scientific, Pacton Gold, Bioasis Technologies, Candelaria Mining UPDATE …

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

O3 Mining Inc - NA Proactive news snapshot:
Your daily round-up from the world of Proactive

Milestone Scientific Inc (NYSEAMERICAN:MLSS) intends to offer for sale a combination of shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering. The company intends to use the net proceeds from this offering for manufacturing, marketing, sales and distribution of its CompluFlo Epidural System and development of new products and new product uses, working capital and general corporate purposes. 

Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXF) closed the first tranche of its non-flow-through financing of 2,773,000 shares priced at C$0.70 for gross proceeds of $1,941,100. The exploration company also closed a flow-through financing of 1.3 million shares priced at C$0.77 for total proceeds of $1,001,000. Certain funds in the flow-through financing are managed by Sprott Asset Management LP. Funds raised will go towards exploration activities at the company’s Red Lake properties. Pacton also owns projects in the Pilbara region of Western Australia.

Bioasis Technologies Inc (CVE:BTI) (OTCQB:BIOAF) said it intends to satisfy it obligation to pay $26,177.21 in interest to the holders of its 7.5% unsecured debentures issued December 23, 2019 as of June 23, 2020 by issuing 104,708 common shares of the biopharmaceutical company. The shares will be priced at $0.25 per share in full satisfaction of the June 23 interest payment obligation in accordance with the terms of the debentures. Bioasis said it chose to settle the interest through the issuance of common shares in order to preserve the amount of cash available to fund ongoing operations while it continues to pursue additional financing opportunities, including potential partnerships.

Candelaria Mining Corp (CVE:CAND) (OTCPINK:CDELF) has closed a US$9 million medium-term loan facility with Accendo Banco SA to help finance construction of its Pinos project in Mexico. The loan is secured against Candelaria’s assets and will bear an interest rate of 13% per year with a 60-month term starting at the draw date. Candelaria may draw US$1.5 million once it executes the facility, with the balance to be made once final loan documentation is completed. Accendo will receive a cash fee of 2% of the total facility as well as 18 million Candelaria warrants exercisable at C$0.11 per share for a 60-month period.

VolitionRx Limited (NYSEAMERICAN:VNRX), an epigenetics company, is joining the ranks of the Russell 3000 and Russell Microcap Indexes when they reconstitute at the close of trading on Friday. Roughly $9 trillion in assets are benchmarked against Russell Indexes in the US, the company said. The company’s inclusion in the indexes will stand for at least the next year.

Mawson Resources Limited (TSE:MAW) (OTCPINK:MWSNF) announced a couple of exciting exploration milestones at its Finnish and Australian projects. The firm said Thursday that it has restarted activities at its Rajapalot project in Finland and began fieldwork at its new Australian acquisitions. "We are excited to start exploration on our new acquisitions in Australia and recommence exploration in Finland,” Mawson CEO Michael Hudson said in a statement.

Benchmark Metals Inc (CVE:BNCH) (OTCQB:CYRTF) said it is sending geophysical crews to a new porphyry target on its property in the prolific Golden Triangle area of British Columbia. The company is hoping to define new drill targets on the highly-prospective Silver Pond zone and prime it for discovery, it told shareholders Thursday. Edmonton-based Benchmark will start with a 3D induced polarization (IP) and resistivity survey along with a high-resolution magnetic geophysical survey spanning the entire four-square-kilometre alteration, which has never been drilled or even effectively explored before.

Media Central Corporation Inc (CSE:FLYY) has switched to a more compact format for the weekly print editions of NOW Magazine and Georgia Straight. Readers in Toronto and Vancouver, respectively, received their first new 11-inch magazine with the June 18 editions. NOW used to be printed in the traditional 12-inch tabloid format, and the Straight was printed in the 15.5-inch long tabloid format. Media Central reached a national supply agreement with TC Transcontinental Printing, Canada’s largest printer, for both publications. By opting for one printer and pivoting to the smaller format, the company expects to save roughly 18% per year on newsprint and ink.

Ideanomics Inc (NASDAQ: IDEX) announced Thursday that its Mobile Energy Group (MEG) has entered into a deal with Zhongsen Tower whereby both parties will establish the leading 5G and IoT infrastructure service provider in Qingdao, China. The deal represents the official launch of MEG's Energy Services Unit and paves the path for MEG to grow its most potentially lucrative division, the company said in a statement. Under the terms of the deal, MEG will own 30% of the venture, making it the largest co-shareholder. Additionally, as a significant shareholder of Zhongsen Tower, MEG will be able to capture both recurring rental sales revenue as well as energy sales from powering the base stations.

Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) announced Thursday it has received ethics approval from a central institutional review board for US study sites for its multinational phase 2b/3 human study of NP-120 (Ifenprodil) as a potential therapeutic treatment for patients with the COVID-19 disease. Based on additional feedback from the US Food and Drug Administration, the company said it is planning to increase the size of the Phase 2b part of the study from 100 to 150 patients by adding a second treatment arm where patients receive a higher dose of Ifenprodil. Enrollment of the 1st patient for the Phase 2b/3 study is expected before the end of July 2020. 

3 Mining Inc (CVE:OIII) is embracing virtual technology as it seeks to bring investors closer to its projects during the current restrictions caused by the pandemic. The group has teamed up with VRIFY Technology Inc to develop an interactive presentation of its properties in Val D’Or, Quebec. This includes virtual tours and 3D models of its Marban and Orenada deposits. "Through VRIFY, we’re bringing anyone who is interested directly into our properties where they can now visualize our innovative work in 3D and understand its potential value even better than before," Jose Vizquerra, the CEO of O3 Mining told investors in a statement.

VR Resources Ltd (CVE:VRR) (OTCQB:VRRCF) said the TSX Venture Exchange had accepted for filing documentation about the property acquisition agreement dated June 22, 2020, whereby VR will acquire the Reveille property, a silver project in Nye county, Nevada. The firm will make an initial US$20,000 payment and issue 100,000 shares to the vendor on closing. An additional US$50,000 and 100,000 common shares are issuable should the company commence a diamond drill program. The vendor will retain a 3% net smelter return royalty on the property, of which up to 1.5% is purchasable by the company at any time.

NexTech AR Solutions Corp (CSE:NTAR) (OTCQB:NEXCF) said partnering its technology with Fastly (NYSE:FSLY), which provides the edge cloud platform, had greatly enhanced user security for video streaming. Fastly's edge cloud platform provides a content delivery network, Internet security services, video and streaming services.  Nextech's InfernoAR is an advanced cloud-based AR Video Conferencing and Video Learning Experience Platform for events.

Great Panther Mining Ltd (TSE:GPR) (NYSEAMERICAN:GPL)  said shareholders voted overwhelmingly in favour of all items of business at the AGM held on June 24. A total of 141,771,862 votes were cast, representing 45.38% of the shares as of the record date. Shareholders voted 95.28% in favour of setting the number of directors at nine, 95.89% in favour of appointing KPMG LLP as auditors, and 91.95% in favour of the amended and restated Omnibus Incentive Plan for three years. Great Panther is a gold and silver miner focused on the Americas.

Gold Resource Corporation (NYSEAMERICAN:GORO), the Mexico and Nevada-focused miner, announced its monthly dividend of one-third of a cent per share for June 2020 payable on July 23 this year to shareholders of record as of July 13 this year. GORO has returned $114 million to its shareholders in consecutive monthly dividends since July 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.

Empower Clinics Inc (CSE:CBDT) (OTCQB:EPWCF) announced Thursday that its search has begun for a facility in Vancouver to open a wellness clinic and headquarters for its Dosed Wellness psychedelics division. The company added that “significant progress” has been made in negotiations with Golden Teacher Films Inc to acquire 10% interest in certain royalty rights, intellectual property rights and interest in DOSED, an award-winning documentary about treating PTSD, anxiety and depression with psychedelics.

NetCents Technology Inc (CSE:NC) (OTCQB:NTTCF), a cryptocurrency payments technologies company, announced Thursday it has made numerous enhancements to its system. The company said it has been running promotional test campaigns, both merchant direct and through Partners, to test the efficacy of various promotional incentives in driving merchant sign up, integration, and the processing of cryptocurrency transactions.  Through this testing, NetCents said it identified that due to the wide-range of merchant and partner industries, the ability to conduct partner-specific and varied promotions was key to the campaign's ongoing success.

The Flowr Corporation (CVE:FLWR) (OTCMKTS:FLWPF) revealed Thursday that it has planted a variety of high THC strains on nearly 1 million square feet of land at its Portuguese cultivation facility. The Toronto-based cannabis company and its partner Terrace Global (CVE:TRCE) jointly operate the outdoor growing environment in Aljustrel. Flowr has shipped nearly 14,000 clones, including BC Pink Kush, BC Tahoe OG and BC Louis XII, from its Flowr Forest outdoor operation in Kelowna to Portugal.

Naturally Splendid Enterprises Ltd (CVE:NSP) (OTCMKTS:NSPDF) is expanding its e-commerce strategy and has struck a deal with boutique consultant Atlas 365 to establish an on-line ambassador program to promote the former's health food products. Particularly, the focus will be Naturally Splendid's Natera Sport ProCurc 30 product, which is an anti-inflammatory supplement launched in February this year. Atlas has hired Rozaay Management Inc for the project - a creative marketing and branding agency that works with many professional athletes, influencers across the NBA, MLB, NFL, MLS and CFL with a combined following of more than 100 million followers.

Genprex Inc (NASDAQ:GNPX) announced that the United States Adopted Names (USAN) Council approved the generic name quaratusugene ozeplasmid, the company’s non-small cell lung cancer drug formerly known as Oncoprex. The USAN Council is the agency tasked with selecting simple, unique nonproprietary names for drug candidates. Genprex is also seeking proprietary approval for the brand name GPX-001. Obtaining both approvals is a necessary step in obtaining marketing approval. “The USAN’s adoption of our non-proprietary name is another step toward advancing our lead drug candidate, GPX-001 for non-small cell lung cancer, toward commercialization,” CEO Rodney Varner said in a statement. “We look forward to the adoption and rollout of a brand name for this drug as we continue to move along the development pathway.”

 

 

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