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NA Proactive news snapshot: Ipsidy, Avalon GloboCare, BioSig Technologies, Co-Diagnostics, Black Iron, Thunderbird Entertainment 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

Ipsidy Inc (OTCQB:IDTY) announced Monday that it has expanded its Proof and Verified Identity-as-a-Services solutions to be accessible through standard web browsers on all types of mobile and desktop devices. The company is now able to offer facial biometric identity services without requiring users to download a mobile application. Using a web browser, or through a link sent via text/email to a mobile device, users can click and quickly capture a selfie to confirm their identity during a remote event.

Avalon GloboCare Corp (NASDAQ:AVCO) updated investors Monday on the progress of its research and development programs in cell therapy and Covid-19-related initiatives and announced the launch of the Avalon Combat Covid-19 Taskforce (ACCT). The ACCT is meant to accelerate scientific/clinical development to help combat the Covid-19 pandemic through a strategic combination of therapeutic and vaccine approaches.

BioSig Technologies Inc (NASDAQ:BSGM) announced Monday the enrollment of patients for its Phase 2 trial of merimepodib, a drug candidate for the treatment of the coronavirus. BioSig, along with its subsidiary ViralClear Pharmaceuticals Inc, enrolled patients at trial sites in Austin, Texas; Rochester, Minnesota; Jacksonville, Florida; and Scottsdale, Arizona. The company expects to report results later this summer. Merimepodib is meant to be orally administered and has demonstrated broad-spectrum in-vitro antiviral activity, including strong activity against SARS-CoV-2 in cell cultures. 

Analysts at Wainwright reiterated their “Buy” rating and $35 price target on Co-Diagnostics Inc (NASDAQ:CODX) as US domestic coronavirus cases surged boosting demand for the company's coronavirus (COVD-19) diagnostic test. “As reported in the Wall Street Journal yesterday, the COVID-19 testing system is reaching the brink in the US as growing demand surpasses what the nation’s labs can handle, resulting in supply shortages and backlogs,” wrote Wainwright analysts Yi Chen and Raghuram Selvaraju. “Outside the US, Brazil, India, and South Africa are registering the greatest rises in COVID-19 cases, according to the United Nations health agency. Therefore, we believe Co-Diagnostics should continue to ship a high volume of its Logix Smart COVID-19 test kits, with an increasing volume shipped to U.S. customers.” 

Black Iron Inc (TSE:BKI) (OTCMKTS:BKIRF) said Monday that it continued to make “good progress” in its discussions with potential partners interested in financing construction of its Shymanivske iron ore project in Ukraine. The Toronto-based company said it is currently negotiating investment structure and terms with two construction companies who are interested in investing approximately US$60 million in exchange for the contract to build the mine. Discussions are also going on with potential debt providers and some new and previously engaged European government-backed export credit agencies who can help lower borrowing costs by providing sovereign guarantees, Black Iron told shareholders in a statement.

Thunderbird Entertainment Group Inc (CVE:TBRD) (OTCMKTS:THBRF) said Monday that it has begun production on a new spinoff of its hit series Highway Thru Hell. The new series, currently titled Mud Mountain, documents the logging world through the eyes of two brothers from a family of loggers in the mountains of British Columbia. "This is an incredibly authentic series about two brothers mired in a mountain of mud and family history," said Mark Miller, president of Thunderbird Entertainment. "It is an important commission. In the middle of the COVID-19 pandemic, our partners have showed incredible courage to support the industry in this way."

District Metals Corp (CVE:DMX) (OTCMKTS:MKVNF) told investors that an airborne electromagnetic (EM) and magnetic survey had started on its 5,144 hectare Tomtebo project - the first time a deep penetrating airborne study has been carried out at the site. The Bergslagen district in Sweden is known for large high grade polymetallic mineralized systems and the lack of EM and detailed magnetic coverage is astounding, said Garrett Ainsworth, the chief executive at District in a statement. The survey will cover the entire Tomtebo property with around 600 line-kilometers at a line spacing of 100 metres, and is capable of detecting conductive polymetallic sulphide mineralization at depths of 500 metres or more.

GlobeX Data Ltd (OTCQB:SWISF)(CSE:SWIS), the cybersecurity and privacy solutions provider, said Monday that it has seen a spike in demand for its cybersecurity and privacy solutions DigitalSafe, and its new Sekur suite of encrypted messaging and email solutions. The company said it is seeing demand growing from Latin America, Sri Lanka, India and the Arab countries of the Gulf Cooperation Council. GlobeX noted that it recently submitted a slew of proposals for government and non-government projects "totaling 20,000 user licenses representing a gross revenue of nearly $2,400,000 per year." The firm’s activities in Latin America have increased with its training for distributors in Colombia, Panama, Mexico and Spain since inking a distribution agreement with Tasloko SL.

Champignon Brands Inc (CSE:HRM) (OTCQB:SHRMF), a research-driven company studying psychedelics as treatments for mental health conditions and addiction disorders, announced Monday that it will not rebrand itself nor change its name. In June 2020, the company’s board of directors considered options for realizing additional value for the consumer-packaged goods (CPG) pillar of its business and contemplated a reorganization that would result in the spinout of this business into a new reporting issuer. But the board of directors has determined that this is not a suitable transaction to undertake at this stage and will not be proceeding with the contemplated reorganization and spinout, Champignon said.The company also sought to clarify that its previously announced intention to undertake a corporate rebranding and to change its name did not result from any specific transaction undertaken by the company. At this time, the board of directors has resolved not to proceed with the corporate rebranding and name change.

Ipsidy Inc (OTCQB:IDTY) announced Monday that it has expanded its Proof and Verified Identity-as-a-Services solutions to be accessible through standard web browsers on all types of mobile and desktop devices. The company is now able to offer facial biometric identity services without requiring users to download a mobile application. Using a web browser, or through a link sent via text/email to a mobile device, users can click and quickly capture a selfie to confirm their identity during a remote event. “Ipsidy is committed to ensuring our clients know the identity of their users with biometric certainty,” CEO Phillip Kumnick said in a statement. “The expansion of our facial biometric identity services to seamless web browser applications reflects our vision of delivering frictionless identity experiences that establish the highest level of assurance and mutual trust in today’s digital and remote world.”

CytoDyn Inc (OTCQB:CYDY) said Monday that the US Food and Drug Administration (FDA) has sought more information from the company to complete a substantive review of its flagship drug leronlimab for the treatment of HIV in combination with the cocktail known as highly active antiretroviral therapy (HAART). The Vancouver, Washington-based late-stage biotechnology company said it is “confident” it can provide “all information requested by the FDA.” On May 11, CytoDyn reported that it had submitted all remaining parts of its Biologics License Application (BLA) for leronlimab. In keeping with guidelines, CytoDyn informed the FDA it had submitted a complete BLA for rolling review. The FDA has now informed the company its BLA doesn’t contain certain information needed to complete a substantive review, and has therefore not filed the BLA at this time.

Weekend Unlimited Industries Inc (CSE:POT) (OTCQB:WKLUF) hit record revenue and profit during the month of June thanks to strong sales of its WKND! and Orchard Heights cannabis and wellness brands. The Vancouver-based company posted C$331,886 in revenue and C$31,395 in gross profits during the month, it reported Monday. Sales from WKND!-branded wellness CBD and health products also contributed to the revenue figures. The cannabis company saw a 343% month-over-month increase in sales of its WKND! wellness products, which generated $289,400 in revenue. The total cost of goods sold were $270,135, which led to gross profits of C$12,130.

Essex Minerals Inc (CVE:ESX) told investors on Monday it has struck a joint venture deal with private royalty group Zola Minerals Inc, giving it the option to participate in gold streams. Zola has the right to provide stream finance on a number of previously mined gold heap leach projects, with the potential to provide near term stream income.

Innocan Pharma Corporation (CSE:INNO) announced Monday that its over-the-counter Relief & Go Pain Relief spray product has received the US Food and Drug Administration's technical validation and approval to commence marketing. Innocan's pain relief formulation contains a combination of Magnesium oil, Methyl salicylate, Menthol and CBD, administered with a simple dose of spray, roll-on or lotion. The Relief & GO Pain Relief spray is designed to target pain-related muscle and provide relief for joint pain.  "We are excited to receive the approval from the FDA to market our flagship pain relief product in the USA," Innocan CEO Iris Bincovich said in a statement.

Great Bear Resources Ltd (CVE:GBR) (OTCQX:GTBAF) is back up to full drilling pelt at its flagship Dixie project in Red Lake, with five active drill rigs set to return in July. "At the outset of the COVID-19 pandemic, we reduced our drill count from five to three rigs, and implemented a series of risk mitigation protocols which will remain in place, designed to protect our staff and local communities," said Chris Taylor, CEO in a statement. The return to five rigs amounts to a  67% increase in drill activity over recent levels, he noted.

NexTech AR Solutions Corp (CSE:NTAR) (OTCQB:NEXCF) has launched new video communication software for its Inferno AR platform, integrating collaborative classroom learning, one-to-one networking and traditional video conferencing all in one place, the company said Monday. Customers in education technology, telemedicine and others will be able to seamlessly launch and manage both collaborative experiences and large audience events directly from InfernoAR, NexTech noted. “Bringing video conferencing and collaboration features to the forefront as a first class native experience in the platform is a natural progression, as we continuously evolve InfernoAR into best in class leader,” InfernoAR CTO Mark Pace said in a statement.

PreveCeutical Medical Inc (CSE:PREV) (OTCQB:PPRVCF) told investors Monday that the cannabis product required for its coronavirus-targeting sol-gel nasal formation was received for development and testing by Pharmacy Australia Centre of Excellence (PACE) at the University of Queensland (UQ) on July 8. The group's technology works by infusing cannabis extracts into water-based sol-gels, which are delivered using a nasal spray applicator. PreveCeutical believes that such a formation could possibly reduce side effects from, reduce contraction rates or even prevent infection from the coronavirus. Compared to traditional nasal sprays, sol-gels provide sustained delivery and therapeutic effects; reduced dosages due to higher bioavailability; and reduced irritation and other negative side effects.

HighGold Mining Inc (CVE:HIGH) (OTCQB:HGGOF) is set to raise further funds on top of its previously announced bought deal financing of C$12 million. In a statement on Monday, the group said a senior North American gold mining company and existing shareholder, has elected to exercise its participation right under a deal with HighGold from September last year. It means HighGold will issue 422,925 participation shares to the firm in question for proceeds of around a further C$731,661 for mineral exploration and general corporate purposes. This means the shareholder maintains its pro-rata ownership interest in HighGold Mining.

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) announced Monday that its Voyage Cannabis Corp subsidiary has signed a term sheet for an agreement with Weed Me Inc for contract manufacturing services to produce high-quality cannabis vape cartridge products. Heritage noted that its Purefarma Solutions subsidiary has been working with the production designers at Weed Me for the past two months to create a product that will offer consumers a unique flavour profile while complementing and extending Weed Me's offerings of flower and pre-roll products. "While we continue to actively work with Health Canada to get our own branded products launched this summer, we are also focused on expanding our contract manufacturing relationships, both of which we expect to have a positive impact on future revenues," Heritage CEO Clint Sharples said in a statement. 

Power Ore Inc (CVE:PORE) said the previously announced acquisition of the Cooke copper and Robaitaille gold mine properties has now closed. The February announced acquisition of the former producing mines in Quebec boosted the company’s flagship Opemiska Copper Complex property from 797 hectares to nearly 10,000 hectares. The deal also includes 12 kilometres of strike of the Gwillin Fault, the firm said.

The Valens Company Inc (TSE:VLNS) (OTCQX:VLNCF) has said it is participating in a new study on medical cannabis led by the University Health Network and Canadian pharmacy chain Shoppers Drug Mart’s medical cannabis division. The first of its kind, the real-world evidence study will look at the therapeutic effects of medical cannabis in adults with chronic pain, sleep problems and anxiety issues, and will use TruTrace Technologies Inc (CSE:TTT) (OTCMKTS:TTTSF) blockchain secure technology of the Medical Cannabis by Shoppers online product portal that tests and verifies cannabis products. Kelowna, BC-based Valens is contributing its Nüance brand of premium cannabis oil to the study, it said in a release.

LexaGene Holdings Inc (CVE:LXG) (OTCQB:LXXGF) announced Monday that its flagship analyzer product MiQLab is being manufactured for an anticipated commercial launch by the end of September 2020. MiQLab is a fully automated genetic analyzer designed to deliver reference-quality data at the point-of-need. The technology screens samples for up to 27 different targets at once -- looking for pathogens and/or antimicrobial resistance factors -- and returns results in approximately one hour. It is designed to be operated at the site of sample collection to avoid the delay associated with shipping and manually processing samples. LexaGene said the technology can be used in multiple billion-dollar markets, including human and veterinary diagnostics as well as food safety testing.

Naturally Splendid Enterprises Ltd. (CVE:NSP) (OTCMKTS:NSPDF) has announced the finalization of another purchase order for 20 tonnes of hemp seed destined for South Korea. This new sale represents the third shipment of this size by the group to South Korea since March 3, 2020. The company is leveraging this recent sale of hulled hemp seed to South Korea as an opportunity to discuss additional Naturally Splendid product lines to this region.

Kodiak Copper Corp (CVE:KDK) (OTCMKTS:OCPFF) has started its fully funded phase II drill program at the MPD copper-gold porphyry project in British Columbia and expanded the project by staking a further 18.8 square kilometres of claims. The firm said it will sink 4,000 metres of diamond drilling to follow-up the recent Gate Zone discovery, and drill test an analogous high-priority target at the Dillard Zone. Kodiak Copper gets set for drill program to follow up on highest-grade copper-gold interval reported on MPD project. "Our first drill program ended on a high note with the discovery of the Gate Zone. Subsequent geophysical work now shows that high-grade drill intervals at Gate are on the edge of a large resistivity anomaly and interpreted porphyry centre," Claudia Tornquist, president and CEO of Kodiak told investors in a statement.

FSD Pharma Inc (NASDAQ:HUGE) (CSE:HUGE) has announced a US$20 million at-the-market offering to help fund research on its lead drug FSD-201, which may help treat coronavirus. The Toronto-based company said Monday it entered into an equity distribution agreement on July 10 with AGP/Alliance Global Partners that could see it sell Class B subordinate voting shares for aggregate gross proceeds of up to US$20 million. The shares will only be offered in the US and not in Canada, where the company trades on the Canadian Securities Exchange, according to a release.

Candelaria Mining Corp (CVE:CAND) (OTCPINK:CDELF) said Monday that it had installed the company’s president and director Ramon Perez as interim chief executive, while retaining former CEO Curtis Turner as a strategic advisor.   The Canada-based gold development and exploration company said Turner had stepped down to pursue other opportunities, but would continue to help the leadership team as a strategic advisor. "We are thankful for Curtis’s service, leadership and many years of commitment to the company. We wish him well in all of his future endeavors," said Perez, who will act as interim CEO as the company assesses the vacancy. As part of its corporate update, the company also said that it had retained Venture Liquidity Providers Inc (VLP) to help in maintaining an "orderly trading market" for the shares of the company.

TRACON Pharmaceuticals Inc. (NASDAQ:TCON), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel targeted cancer therapeutics, has said that it will host a key opinion leader (KOL) webinar on envafolimab for the treatment of sarcoma on Friday, July 17, 2020, at 11.00am Eastern Time. The webinar will feature a presentation by Robert Maki, MD, PhD, of the University of Pennsylvania School of Medicine, who will discuss the current treatment landscape and unmet medical need in treating patients with sarcoma. TRACON's chief executive officer, Charles Theuer, MD, PhD, will also provide an update on envafolimab, the company’s lead product candidate for treating patients with sarcoma.

Royal Road Minerals Limited (CVE:RYR) has posted encouraging drill results from the Luna Roja gold project in Nicaragua, which have provided the firm with more insight into how to extend mineralization there. The asset lies in the highly prospective Golden Triangle, a region that has produced some eight million ounces of gold since the early 1900's and is part of Royal Road's strategic-alliance with Hemco Mineros Nicaragua. Last year, the pair completed an initial 17-hole drilling program at the project, with assays including 49 metres (m) at 2.8 grams per ton (g/t) gold, including an intersection of 22m at 5.3 g/t gold.

Loop Insights Inc (CVE:MTRX) (OCTMKTS:VRZPF), a provider of artificial intelligence solutions, said Tuesday that it has accelerated conversations and projects with two of Canada's largest telecommunications companies as well as two of the largest network providers in the United States. Vancouver-based Loop said that with traditional services becoming obsolete, many telcos are making “strategic moves” to expand their IoT product offerings. In this context, the company said its Fobi device is appealing as it provides the “disruptive turnkey solution” telcos have been looking for to get ahead of the competition. Fobi is Loop’s SIM-enabled IOT device which has LTE connectivity, a standard for wireless broadband communication for mobile devices and data terminals.

Globex Mining Enterprises Inc. (TSX:GMX) OTCMKTS:GLBXF) told shareholders that it has sold a number of non-core specialty mineral royalties to a new energy centric royalty company, Electric Royalties Ltd. (CVE:ELEC). In exchange for the royalties or portions of royalties, Globex will receive $500,000 and 3,000,000 Electric Royalties shares, representing 6.93% of Electric Royalties issued capital. Should the Authier Lithium deposit reach commercial production within 6 years of agreement, Globex added, it will receive an additional $250,000 cash payment adjusted for inflation.

Phoenix Gold Fund Ltd. of Kuala Lumpur, Malaysia, said it has acquired an aggregate of eight million common shares of Cabral Gold Inc. (CVE:CBR) under a non-brokered private placement (4.5 million shares on June 19, 2020, and 3.5 million shares on July 7, 2020). Phoenix Gold acquired the common shares at a price of 12.5 cents per share for a total purchase price of $1 million. As a result of the acquisition, Phoenix Gold now owns 12,166,666 common shares of Cabral, representing 12.79% of the issued and outstanding shares on an undiluted basis. In addition, Phoenix Gold owns two million share purchase warrants. If Phoenix Gold exercises all of its warrants, it would own 14,166,666 common shares of Cabral, representing 14.59%of the issued and outstanding shares on a partially diluted basis, assuming no further common shares of the issuer have been issued. Phoenix Gold said it acquired the securities for investment purposes and has no present intention to dispose of securities of Cabral.

Progressive Planet Solutions Inc (CVE:PLAN) said that, in consideration for George David Richardson, a controlling shareholder of the company, providing the guarantee for previously disclosed credit facilities for an aggregate of up to $300,000 in principal indebtedness from the Bank of Montreal it has issued 6,000,000 warrants to him. As a result, Richardson beneficially owns or controls, directly and indirectly, an aggregate total of 9,310,333 common shares (including his deemed indirect control of 4,526,333 common shares held by Countryman Investments Limited, a company of which he is a principal, and 9,783,667 warrants (including his deemed indirect control of 666,667 warrants held by Countryman Investments) and 250,000 stock options (including his deemed indirect control of 100,000 stock options held by Countryman), which collectively represent 44.3% of Progressive Planet's issued and outstanding common shares, calculated on a partially-diluted basis assuming the exercise of such warrants and stock options. The group said Richardson intends to evaluate his investments in the company and to increase or decrease his respective shareholdings as he may determine for investment purposes.

GGX Gold Corp. (CVE:GGX) said it has closed the final tranche of the private placement announced on June 2, 2020, for gross proceeds of $150,000. Each unit of the financing will comprise of one common share at a price of $0.075 per share and a full share purchase warrant, which may be exercised for a period of two years at a price of $0.12 per share. The term of the warrants may be accelerated in the event that the issuer's shares trade at or above a price of $0.15 per share for a period of 10 consecutive days. In such case of accelerated warrants, the issuer may give notice, in writing or by way of news release, to the subscribers that the warrants will expire 30 days from the date of providing such notice. The company announces November 10, 2020 as the hold expiry date for this final tranche. The proceeds of the private placement will be used for general working capital and continued exploration work including diamond drilling and trenching at the company's Gold Drop property near Greenwood in Southern British Columbia.

Telson Mining Corporation (CVE:TSN) (OTCPINK:SOHFF) has said it is making every effort to complete its Annual Filings by July 15, 2020, however, due to circumstances related to coronavirus (COVID-19) influenced delays and inefficiencies it is uncertain that the July 15, 2020 date under the Management Cease Trade Order will be met. The company confirms that as of the date of this news release that there has been no material change in the affairs of the company that has not been generally disclosed, and, In addition, it has not received any financing from any related party at this time. Telson said it continues to work diligently to prepare the Annual Filings and will continue to comply with the Management Cease Trade Order Guidelines until such deficiencies are remedied.

Helix BioPharma Corp. (TSX:HBP), an immuno-oncology company developing innovative drug candidates for the prevention and treatment of cancer, has announced that, further to its news release dated June 11, 2020, it intends to file its interim consolidated financial statements for the three and nine-month periods ended April 30, 2020, related management’s discussion and analysis by July 30, 2020. The company also confirmed that there have been no material developments to its business since it last provided a business update on June 26, 2020.

OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for over 10,000 US and global securities, announced that Nomad Royalty Company Ltd. (TSX:NSR) (OTCQX:NSRXF), a precious metals royalty and streaming company, has qualified to trade on the OTCQX Best Market and has today upgraded from the OTC Pink market. Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their US investors. Vincent Metcalfe, Nomad's CEO commented, "We are extremely pleased to begin trading on OTCQX alongside well-established companies. This represents another great milestone for Nomad as we will be able to increase liquidity and further strengthen our shareholder base. Facilitating access for investors is top of mind for Nomad and part of our comprehensive long-term strategy."

OTC Markets Group also announced that TAAL Distributed Information Technologies Inc. (CSE:TAAL) (OTCQX:TAALF), a provider of value-added blockchain services, has qualified to trade on the OTCQX Best Market and has today upgraded to OTCQX from the OTC Pink market. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

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