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NA Proactive news snapshot: Nextleaf Solutions, New Pacific Metals, Phunware, MGX Minerals, Nextleaf, Loop Insights UPDATE ...

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

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Nextleaf Solutions Ltd (CSE:OILS) (OTCQB:OILFF) announced Wednesday that the Canadian Intellectual Property Office has granted the company a patent covering the creation of a THC prodrug, its 40th issued patent. Specifically, the patent describes a process for acetylating (inserting an acetyl group into a compound) delta 9-tetrahydrocannabinol (THC) and refining it into THC-O-Acetate using salting-out assisted liquid-liquid extraction and distillation techniques. THC-O-Acetate is prodrug, which can enhance the potency of THC.

Roth Capital Partners has reiterated its Buy rating on New Pacific Metals Corp (CVE:NUAG) (OCTQX:NUPMF), just days after the miner reported favorable results from infill drilling at its Silver Sand project in Bolivia. The firm has a price target of C$6.25 on the stock, which is trading around $4 a share in New York and more than C$5 a share in Toronto. New Pacific Metals announced the data July 13, saying it will be used for detailed metallurgical work ahead of a preliminary economic assessment. 

Phunware Inc (NASDAQ:PHUN) announced Wednesday that Cisco Meraki will now feature its pandemic response solutions for healthcare organizations and city officials in its Meraki Marketplace. Developed on Phunware’s patented Multiscreen-as-a-Service (MaaS) platform, the two mobile-first solutions have been designed to effectively address critical challenges brought on by events such as the coronavirus (COVID-19) pandemic. Cisco Systems Inc (NASDAQ:CSCO) acquired Meraki in 2012, and today Cisco Meraki is a leader in cloud controlled WiFi, routing and security, all managed from a centralized dashboard. The Meraki Marketplace is an exclusive catalog of Technology Partners like Phunware that showcases applications developed on top of the Meraki platform, allowing customers and partners to view, demo and deploy commercial solutions.

MGX Minerals Inc (CSE:XMG) (OTCMKTS:MGXMF) said a notice of work had been filed for 3,000 meters of diamond drilling at its Heino gold deposit and Tillicum claims in British Columbia in support of a resource estimate. As reported earlier this month, consultant SRK has recommended a C$525,000 work program at the asset and MGX is now executing this. SRK completed a site visit on July 7 and 8 to assess various factors, including to develop a geological theory behind the known and potential gold deposit. A number of historical diamond drill core samples have been taken by SRK and sent for 51 element analyses, added MGX in a statement on Wednesday.

Nextleaf Solutions Ltd (CSE:OILS) (OTCQB:OILFF) announced Wednesday that the Canadian Intellectual Property Office has granted the company a patent covering the creation of a THC prodrug, its 40th issued patent. Specifically, the patent describes a process for acetylating (inserting an acetyl group into a compound) delta 9-tetrahydrocannabinol (THC) and refining it into THC-O-Acetate using salting-out assisted liquid-liquid extraction and distillation techniques. THC-O-Acetate is prodrug, which can enhance the potency of THC.

Loop Insights Inc (CVE:MTRX) (OTCMKTS:VRZPF), a provider of artificial intelligence solutions, said it has applied for eligibility to The Depository Trust Company (DTC) in preparation for trading on the OTCQB Venture Market in New York. In a statement Wednesday, Loop said its listing on the OTCQB would be a timely milestone, as the expanding company has built a robust pipeline of activity tied to product and business. If successful, Loop said the OTCQB listing would be a strategic move to leverage this shift in tech funding, and broaden its access to a much larger, international group of investors. The company said DTC eligibility will offer an electronic trading method that drives cost-effective, timely settlements. Because some US firms prohibit the trading of shares that are not DTC eligible, this will widen the company's exposure and scope of opportunity in the US market.

WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) posted record revenue in its first quarter as the company benefits from its combination with medical cannabis group Starseed Medicinal Inc and continues to see its brands gaining recognition. In the three months to March 31, the cannabis producer and distributor posted net revenue of C$12.2 million, which was 327% higher than the C$2.9 million seen in 4Q, 2019 and 265% more than the C$3.3 million generated in 1Q last year. Gross profit before changes in fair value was C$1.4 million, leading to an 11% gross margin compared to a gross loss of 70% in the previous quarter, mainly down to the sale of dried cannabis and revenue generated during the full quarter post the Starseed acquisition in December last year, the firm said.

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) CEO Photis Peter Pascali offered a bright outlook for the year based on a backlog of nearly $30.27 million in signed contracts as the group posted first-quarter business and financial results. For the period ended March 31, 2020, the company which designs, manufactures and commercializes advanced plasma processes, posted revenue of $718,908, a decrease from $736,443 recorded in the first quarter in 2019. The company said cash on hand as at March 31 was $1,139,416.

Minera Alamos Inc (CVE:MAI) (OTCMKTS:MAIFF) remains on track to complete construction of its Santana gold mine in Mexico around the end of this year, it told investors Wednesday as it updated on progress and announced a new director appointment. The group noted that work was allowed to restart at the beginning of June this year and the heap leach pad area has been cleared and is undergoing contouring ahead of clay placement and the installation of the liner. The explosive storage and detonator bunkers are awaiting final inspection from the Mexican authorities ahead of the issue of a permit and bypass road construction at either end of the pad area is underway, Minera Alamos added. The firm has appointed experienced engineer Kevin Small as a director, expanding the group's board to three independent directors and further strengthening "the technical and operational experience of the Minera team".

PreveCeutical Medical Inc (CSE:PREC) (OTCQB:PRVCF) announced Wednesday that it has successfully demonstrated that the delivery efficiency of its diabetes-targeting Dual Gene Therapy Research Program could be tailored based on vector composition. The company has identified a promising modified delivery vector based on stable small interfering RNA (siRNA) for possible preclinical experiments. The iRNA gets incorporated within the delivery vehicle, with strong cell entry and cargo release, and minimal toxicity. These delivery systems have the potential to combine the benefits of silencing RNAi (ribonucleic acid interference) and modified delivery vectors, the company said.

Exro Technologies Inc (CSE:XRO) (OTCQB:EXROF) is teaming up with Australian auto technology company SEA Electric to enhance electric powertrain technology for trucks and delivery vehicles, it announced Wednesday. The two companies will co-develop and test powertrains with technology based on Exro’s Coil Driver and SEA-Drive technologies to increase its foothold in the booming electric commercial vehicle market, which Motor Intelligence estimates will be work US$38.6 billion in 2025. Vancouver-based Exro’s Coil Driver motor control technology boosts the capabilities of motors and powertrains by enabling two separate torque profiles in a single motor to reduce energy consumption.

Altamira Gold Corp (CVE:ALTA) (OTCPINK:EQTRF) (FSE:T6UP) said it has made further progress at its Cajuiero gold project in Brazil, with the approval of a second trial mining license. The resources group said it now has the right to process a further 50,000 tonnes per year from the key Crente resource area at the asset - valid for 22 months. Together with the group's first trial mining license, it means Altamira can now process a total of 100,000 tonnes per year from the entire Crente area.

GR Silver Mining Ltd (CVE:GSRL) (OTCQB:GRFLF) said it has kicked off a new drill campaign at its Plomosas silver project in Sinaloa, Mexico. The 4,500-metre surface drilling program is designed to expand the mineralized zones along strike and drill several new high-grade gold-silver epithermal vein occurrences on two targets. The group said it has mobilized three drill rigs, with one rig already on site. The Vancouver-based company selected the drill sites at Plomosas in areas where historic drilling delineated a number of shallow epithermal veins along strike at the Plomosas Mine and San Juan-La Colorada areas, it told shareholders. Drilling is also underway at San Marcial, which has a resource estimate outlining 36 million silver ounces in the indicated category with an additional 11 million ounces in the inferred category.  GR Silver also told shareholders that it was reviewing potential acquisitions in areas directly adjacent to Plomosas and San Marcial in the Rosario mining district.

Dyadic International Inc (NASDAQ:DYAI) announced Wednesday that it has entered a fully funded collaboration with a top-five global pharmaceutical company. The company plans to utilize its proprietary C1 gene expression platform to accelerate the development, lower production costs and improve the performance of biologic vaccines and drugs. "We are very excited to enter into this collaboration with another top-five pharmaceutical company to demonstrate the potential of C1 to become a platform of choice for manufacturing certain protein-based biologics,” Dyadic CEO Mark Emalfarb said in a statement. “We have been selected for this collaboration because of the attributes of our C1 technology which include, speed of development, high productivity, low cost of goods, among other properties.

Gold Resource Corporation (NYSEAMERICAN:GORO) reported preliminary consolidated production results for the second quarter ended June 30, 2020, showing 7,649 ounces of gold, 191,232 ounces of silver and significant base metals. The Colorado-based company is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada in the United States. Preliminary second-quarter production from the company’s Nevada mining unit totaled 5,208 ounces of gold, a 41% jump, compared to the previous quarter during the Isabella Pearl Mine’s ongoing production ramp-up. Preliminary second quarter production from the company’s Oaxaca mining in Mexico unit totaled 2,441 ounces of gold, 185,330 ounces of silver, 246 tonnes of copper, 1,140 tonnes of lead and 3,004 tonnes of zinc.

GGX Gold Corp (CVE:GGX) (OTCMKTS:GGXXF) said trenching work has begun at its flagship Gold Drop project in the Greenwood mining camp in British Columbia. In an update on this year's exploration program, the group said the season kicked off with the implementation of protocols and measures to prevent and control the risk of transmitting coronavirus with personnel receiving training. It said the first trench will be dug on the C.O.D. vein at its southern end where some of the world's best intercepts were reported last year, including 129 grams per ton (g/t) gold, 1,154 g/t silver and 823 g/t tellurium over 7.28 meters of core length.

Weekend Unlimited Industries Inc (CSE:POT) (OTCQB:WKULF) announced Wednesday that its WKND! brand won two first-place awards for best edible gummy and best distillate cart at the inaugural Noble Cup in Oklahoma on July 11. "This recognition of our WKND! branded products at Noble Cup in Oklahoma is very big accomplishment for the company," WKND! CEO Chris Backus said in a statement. "It is an honor to receive two first-place awards in a competition that celebrates the best products in Oklahoma. We look forward to further establishing the brand by providing a wide range of trusted products to the medicinal use community in Oklahoma."

Group Eleven Resources Corp (CVE:ZNG) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement, as announced in a news release dated May 15, 2020, which sees the issue of 15 million common shares at a purchase price of 5 cents per common share, together with 7.5 million common share purchase warrants with an exercise price of 10 cents for 36 months with one placee, Glencore Canada Corp.

BetterLife Pharma Inc (CSE:BETR) (OTCQB:BETRD) has found that the coronavirus suppresses interferon production in the lungs. Interferon is a family of proteins produced by the body's immune system in response to an invading viral infection. In the case of SARS-CoV-2, the specific virus strain that causes COVID-19, the virus blocks the “call to arms” function supported by interferon. To counter this, BetterLife Pharma is developing AP-003, a proprietary interferon α2b (IFNa2b) inhalation formulation which will be given to patients through a nebulizer. The group’s CEO Ahmad Doroudian expects the AP-003 Phase 2 trial to be completed in the next three-to-six months, and approved under emergency use authorization.

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