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NA Proactive news snapshot: CleanSpark, Quantum Computing, XPhyto Therapeutics, Group Eleven Resources UPDATE ...

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

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CleanSpark Inc (NASDAQ:CLSK) has added enhanced features and modeling tools to its mVSO (microgrid Value Stream Optimizer) software. mVSO is a SaaS-based product used by solar developers, battery suppliers, and engineering, procurement and construction companies to model the ideal mix of distributed energy assets to deliver cost savings, energy resiliency and sustainability. The Utah-based company said the update allows the user to more easily identify and take advantage of incentives targeted to specific conditions or regions. The new release features enhanced modeling for the California Self-Generation Incentive Program, commonly referred to as SGIP -- which will now provide rebates for business and residential customers who add energy storage as a means to maintain power resiliency during a grid disruption.

Quantum Computing Inc (OTCQB:QUBT), an advanced technology company developing quantum-ready applications and tools, said Wednesday that it is set to gain as it has entered the key commercialization phase as the “only public pure-play in the quantum computing space.” The Leesburg, Virginia-based company has kicked off the official commercial launch of its Mukai quantum computing software execution platform. Last week, the company introduced a new trial access program that demonstrates Mukai’s power to solve real-world problems. According to the company, the trial will enable developers to discover how they can migrate their existing applications to quantum-ready solutions and realize superior performance even when running their solutions on classical Intel or AMD processor-based computers.

XPhyto Therapeutics Corp (CSE:XPHY) (FSE:4XT) (OTCPINK:XPHYF) said Wednesday it has entered into an investor-relations consulting agreement with Knox Communications Inc (KCI) to carry out marketing and investor communication activities for the company. KCI's founder and principal, Knox Henderson, brings more than 25 years' experience in investor relations, corporate finance and communications for publicly listed companies, XPhoto noted in a statement. Henderson has advised a broad range of early and growth-stage companies in the life sciences, technology and resource sectors, it added. His most recent major engagement involves notable success in the Canadian junior capital markets.

Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) (FRA:3GE) has announced the closing of its non-brokered private placement, previously announced on June 12, 2020, through the issuance of 1,000,000 units at a price of C$0.05 per unit for gross proceeds of C$50,000. Each unit will consist of one common share and one half non-transferable common share purchase warrant., with each warrant entitling the holder to purchase one additional common share in the company at C$0.10 per share for 36 months from the date of issue. The proceeds from the Placement will be used for exploration as well as for general and administrative purposes. The Placement is subject to regulatory approval and all securities to be issued pursuant to the Placement are subject to a hold period under applicable Canadian securities legislation that expires four months and one day after the closing date of the placement.

Atlas Engineered Products Ltd (CVE:AEP) (OTC:APEUF) has said it is in a solid financial position despite the current coronavirus crisis and saw revenue grow by 14% in the first quarter of this year compared to the same period in 2019. The wood truss and engineering firm has strong liquidity and entered 2020 with an improved position over the previous year and has instituted a cash preservation strategy, chief executive Dirk Maritz revealed in a letter to shareholders alongside the group's latest numbers. Revenue for the three months to March 31, 2020, came in at around C$7 million, versus around C$6.2 million in the same quarter in 2019, the firm said. Atlas's aim is for 2020 is to reach an annualized revenue run rate of between C$40 million and C$45 million with a normalized EBITDA margin of 10%-15%.

Gevo Inc (NASDAQ:GEVO), a next generation low-carbon fuel company, has announced the pricing for an $18 million upsized public offering to boost the company’s coffers and help defray general corporate costs. In a statement, the Englewood, Colorado-based company said it has priced a public offering of an aggregate of 30 million shares, together with accompanying warrants to purchase up to an aggregate of 30 million shares of common stock, at a public offering price of $0.60 per share and accompanying warrant. Each share, or common stock equivalent will be sold in the offering with one warrant to purchase one share. The company said the warrants have “an exercise price of $0.60 per share, are immediately exercisable, and expire five years” following the date of issuance.

Exactus Inc (OTCQB:EXDI), a leading supplier of hemp-derived ingredients such as CBD and CBG as well as feminized hemp genetics, reported Wednesday record revenue in the first quarter of 2020. In a statement, the company said it recorded 1Q revenue of $836,000, versus $15,980 in the prior-year period. The increase was primarily attributable to the build-out of sales and marketing.  Exactus also noted that it has significantly cut its monthly cash burn and has shifted its focus to rapidly generate revenue through bulk specialty ingredient sales.

Gold Resource Corporation (NYSEAMERICAN:GORO) is celebrating ten years of production from its Arista mine in Mexico, over which time the firm has generated more than $1 billion in revenue. The group's Oaxaca Mining Unit (OMU) kicked off output on July 1, 2010, with an estimated mine life of a minimum of nine years, but only having three to four years of delineated resource at the time, the firm noted. "With approximately four years of current proven and probable reserves, there is a strong possibility of a second decade of production ahead for the OMU," GORO added in a statement.

Medallion Resources Ltd (CVE:MDL) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement, announced on June 16, 2020, which will see the issuer of 2.5 million shares at a purchase price of 10 cents each, together with 1.25 million share purchase warrants at an initial exercise price of 15 cents and a 2-year term to expiry with five placees.

Information Services Corporation (TSX:ISV) said at its annual and special meeting of shareholders held on June 30, 2020 in Regina, Saskatchewan that shareholders voted in favour of all matters, including the appointment of Deloitte LLP as auditor for the ensuing year, the election of its board of directors and amendments to the company’s stock option plan.

AgraFlora Organics International Inc. (CVE:AGRA) said that, further to its news release dated May 25, 2020, it continues to work diligently to file its interim financial statements for the three months ended March 31, 2020, by the extension date of July 16, 2020. It said all material business developments since the filing of the company's annual financial statements and associated management's discussion and analysis for the year ended December 31, 2019, have been disclosed by the company by way of news release.

Maverix Metals Inc. (NYSEAMERICAN:MMX) (TSX:MMX) announced that its annual general meeting held on June 30th, 2020, shareholders voted in favour of all resolutions presented at the meeting, including the re-election of the company's eight director nominees.

OTC Markets Group Inc. (OTCQX:OTCM), operator of financial markets for 10,000 U.S. and global securities, has announced that Ottawa Bancorp, Inc. (OTCQX: OTTW), the holding company for Ottawa Savings Bank, has qualified to trade on the OTCQX Best Market. Ottawa Bancorp, Inc. previously traded on NASDAQ. To qualify for OTCQX, community banks must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Ottawa Bancorp, Inc. President Craig Hepner commented: "We are very pleased that today, Ottawa joins more than 400 other investor-focused companies that trade on the OTCQX Best Market. We are excited to be able to provide the Company with liquidity and visibility by trading on this market, all while also achieving important operational efficiencies. We are also pleased that OTCQX- traded companies are required to adhere to reporting compliance and corporate governance standards and best practices that are important to Ottawa and its shareholders."  

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