viewHeritage Cannabis Holdings Corp.

NA Proactive news snapshot: IEC Electronics, Alchemist Mining, Ximen Mining, Valeo Pharma, BioSig Technologies, Revive Therapeutics UPDATE...

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

Newspapers and laptop
Your daily round-up from the world of Proactive

IEC Electronics Corp (NASDAQ:IEC) posted strong fiscal third-quarter results on Wednesday that saw its revenue jump 17% year-over-year driven by its ability to deliver “reliable” electronic manufacturing solutions for complex products even during the coronavirus pandemic. For the period ended June 26, 2020, the Newark, New York-based provider of electronic manufacturing services to advanced technology companies reported revenue of $47.4 million, compared to $40.3 million in the fiscal third quarter of 2019. Gross profit for its third quarter was $6.6 million, or 14% of sales, compared to gross profit of $5.6 million, or 13.9% of sales in the third quarter of fiscal 2019. Selling and admin expenses amounted to $3.7 million in the quarter.

Alchemist Mining Inc (CSE:AMS) reported Wednesday that its shares will resume trading on the Canadian Securities Exchange on August 7. The company’s ticker symbol of AMS.X remains the same. The Canadian firm aims to be a global supplier of premium cannabis products.

Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) has received its permit to drill the Brett epithermal gold-silver property in British Columbia, it reported Wednesday. The approval is for a surface drilling program to extend the known bonanza grade zones and test for lower-grade targets that could be amenable to a bulk mining scenario, according to a release. Brett is located around 30 kilometres from Vernon in the southern portion of British Columbia. Ximen’s land holding in the area comes in at around 20,000 hectares.

Valeo Pharma Inc (CSE:VPH), a pharmaceutical company, said Wednesday that it does not plan to move up the expiry date of the share purchase warrants it issued as part of a short form prospectus on July 11. The warrants have an exercise price of $0.60 with an expiry date of July 25. All other terms of these warrants remain unchanged, the company said, including Valeo’s right to accelerate the expiry date in the future. "Our summer product launches are leading to improved cash flow and we therefore will not accelerate the expiry date of the warrants at this stage" CEO Steve Saviuk said in a statement.

BioSig Technologies Inc (NASDAQ:BSGM) subsidiary ViralClear Pharmaceuticals Inc has added Michael Sofia to its scientific advisory board, the company announced Wednesday. Sofia has brought multiple drugs into clinical development for the treatment of infectious and inflammatory diseases, according to the company. ViralClear formed the board in July to review its drug discovery and development and counsel the company on its mission to control emerging infections and viral diseases, including the coronavirus (COVID-19).

Revive Therapeutics Inc (CSE:RVV) (OTC:RCCTF) told investors Wednesday that the company is finalizing agreements and aligning resources to initiate a Phase 3 clinical trial of its drug Bucillamine as a treatment for the coronavirus (COVID-19) in September. The company received approval from the US FDA last week to move forward with a trial evaluating the safety and efficacy of the drug in patients with mild-to-moderate COVID-19. Revive said it plans to engage as many as 10 clinical trial sites in the US and will evaluate potential locations in states including Arizona, California, Florida and Texas.

Mirasol Resources Ltd (CVE:MRZ) (OTCPINK:MRZLF) said Wednesday that exploration has started at its Inca gold project in northern Chile in preparation for a drill program slated to begin later this year. The Vancouver-based company has a field crew at the site to complete a surface exploration program focusing on the Sandra target on the southern part of the property. Mirasol, a prospect generator, also said that it is “actively preparing” for its upcoming field season at its portfolio of projects in the Mio-Pliocene belt in Chile and Argentina’s Santa Cruz province.

Heritage Cannabis Holdings Corp.(CSE:CANN) (OTCMKTS:HERTF) said it has entered into an agreement to acquire all of the issued and outstanding equity of Opticann Inc., a Colorado-based oral and topical cannabinoid company for an initial consideration of up to C$5.0 million in common shares and warrants of Heritage. Opticann, which was founded by several former executives of MedReleaf Corp. - a Canadian medical cannabis company that was acquired by Aurora Cannabis Inc. for $3.2 billion in 2018 - has the rights to exclusively sell CBD and CBG products made with the patented VESIsorb(R) drug delivery system for optimized absorption and stability. The acquisition agreement additionally includes a series of possible earn-outs with a potential value of up to C$30.0 million contingent upon achieving significant financial and enterprise milestones over the next five years.

DRDGOLD Limited (JSE:DRD) (NYSE:DRD) has shared a production update reporting a 9% year-on-year increase in gold production to 5,424 kilograms (174,385 ounces) for the financial year ended June 30, 2020. In a statement on Wednesday, the South African gold producer said the increase is “mainly attributable” to a “larger contribution” from DRDGOLD’s Far West Gold Recoveries operation. The company had earlier provided production guidance of between 175,000 and 190,000 ounces. However, the company said interruptions to its operations due to the coronavirus lockdown caused production to come in “marginally below” the estimated range.

WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) said Wednesday it had struck a deal with US-based cannabis wellness house MM Technology Holdings LLC to bring a premium line of products to Canada. The medical cannabis producer will become the sole Canadian distributor of Mary’s Brands, which manufactures topicals, transdermal patches and gel pens under the Mary’s Medicinals line of products. WeedMD will manufacture Mary’s Medicinals in house with its own input biomass at its CX Industries facility in Ontario. The Toronto-based company will also market and sell Mary’s Medicinal products using its own distribution channels.

Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) revealed on Wednesday that the first patient has been dosed in its Phase 2 clinical study of its repurposed drug NP-120 (Ifenprodil) as a potential treatment for patients with idiopathic pulmonary fibrosis (IPF) and chronic cough. The Vancouver-based clinical-stage pharmaceutical development company said the patient was enrolled and dosed at the Waikato Hospital in Hampton, New Zealand. Algernon said the purpose of the proof-of-concept Phase 2 human trial is to determine the effectiveness of Ifenprodil in preserving lung function in IPF patients, including biomarkers of fibrosis and its associated cough.

Minera Alamos Inc (CVE:MAI) (OTCQB:MAIFF) stock rose Wednesday after analysts at Roth Capital Markets reiterated a Buy rating and upped their price target for the company to C$0.85 from C$0.65. The increase in optimism comes a day after Minera reached a deal to acquire the Cerro De Oro gold project in Zacatecas, Mexico. The project constraints 6,500 hectares of claims and 8,200 meters of prior drilling. “We view this as an ideal acquisition for Minera Alamos as the company can move quickly to provide an initial resource estimate and then can look to advance the project towards production in the coming years,” Roth wrote in an analyst note.

IEC Electronics Corp (NASDAQ:IEC) posted strong fiscal third-quarter results on Wednesday that saw its revenue jump 17% year-over-year driven by its ability to deliver “reliable” electronic manufacturing solutions for complex products even during the coronavirus pandemic. For the period ended June 26, 2020, the Newark, New York-based provider of electronic manufacturing services to advanced technology companies reported revenue of $47.4 million, compared to $40.3 million in the fiscal third quarter of 2019. Gross profit for its third quarter was $6.6 million, or 14% of sales, compared to gross profit of $5.6 million, or 13.9% of sales in the third quarter of fiscal 2019. Selling and admin expenses amounted to $3.7 million in the quarter.

Atlas Engineered Products Ltd (CVE:AEP) (OTC:APEUF) posted second-quarter results on Wednesday that saw its revenue jump 11% compared to the first quarter driven by the “strong resilience” in the British Columbia and Manitoba markets despite the coronavirus (COVID-19) restrictions. "Although Q2 2020 resulted in lower revenues than in Q2 2019, I am pleased to report an 11% revenue increase in Q2 2020 over Q1 2020 amidst the most impacted months of the COVID-19 pandemic. Normalized EBITDA margin was at 14%, with positive operating profit and net income for Q2 2020,” Atlas Engineered Products CEO Dirk Maritz said in a statement.  

NetCents Technology Inc. (CNSX:NC) said it exceeded $4 million in monthly processing volume in July 2020, which represents 100%  growth over the previously reported February 2020, numbers. It said the growth in the monthly transaction volume was partly caused by NetCents continuing to grow its business to business transaction flow, with the new market segment supporting larger transactions that have the effect of significantly lifting the average transaction size.

Pacific Empire Minerals Corp (CVE:PEMC) (OTCQB:PEMSF) has started drilling at its Worldstock copper-gold project in British Columbia, it said Wednesday. The junior prospect generator said it plans to test a number of targets on the property, which is located near Taseko Mines Ltd’s Yellowhead copper project. Drill targets include an area that saw limited drilling in the past, with reported values grading up to 0.4% copper over 10.4 metres

Gold Resource Corporation (NYSEAMERICAN:GORO) posted second-quarter 2020 results after the bell on Tuesday, reporting $21.1 million in revenue despite withstanding mandatory closures due to the coronavirus (COVID-19) pandemic in the period. The company operates a mining unit in Oaxaca, Mexico, which was placed on care and maintenance when the government suspended non-essential businesses at the beginning of the quarter for nearly eight weeks to slow the spread of the virus. Operations restarted on May 27, and under a strict employee illness protocol, Gold Resources was able to produce 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 in Oaxaca.

Weekend Unlimited Industries Inc (CSE:POT) (OTCQB:WKULF) has closed a non-brokered private placement worth C$517,400 in order to acquire the intellectual property of Oklahoma cannabis edibles company Ruby Mae’s LLC, the company announced late Tuesday. The lifestyle-branded cannabis company offered more than 6.4 million subscription receipts at a price of C$0.08 per receipt. The receipts will automatically convert into units, each containing one common share and one share purchase warrant, assuming the deal is completed before September 30, 2020, and certain escrow release conditions are met.

ElectraMeccanica Vehicles Corp (NASDAQ:SOLO) announced Wednesday that it has trimmed its list of possible states to house its new US assembly facility and engineering technical center, down to three: Arizona, Florida and Tennessee. The company is looking for a facility to help meet growing demand for its three-wheeled SOLO electric vehicles in the US. The operation is expected to employ as many as 250 people and feature a technical center that includes plans for multiple labs to support ongoing vehicle chassis and power electronics testing, as well as comprehensive research facilities. ElectraMeccanica has traveled to potential sites in Phoenix, Orlando and Nashville and expects to make a decision by November.

Endeavour Mining Corp (TSE:EDV) (OTCQX:EDVMF) delivered its second-quarter results on Wednesday that showed the West Africa-focused miner produce 149,000 ounces of gold during the quarter. The Toronto-based mining company also declared its intention to start paying a dividend to shareholders in the coming quarters. Endeavour said it is on track to meet its full-year production guidance and all-in-sustaining cost (AISC) targets of between 995,000 to 1.095 million ounces at an AISC of between US$865 to $915 per ounce. Its AISC for the second quarter was US$939 per ounce.

Exro Technologies Inc. (CSE:XRO) (OTCQB:EXROF), a leading technology company which has developed a new class of power electronics for powertrains, has provided an update on its partnership with Potencia Industrial, S.A. DE C.V, saying the first stage of the project has now been delivered. Exro and Potencia are working together to accelerate the transition to commercial electric vehicles with novel new powertrain technologies. The motor driver integration program is a multi-stage project where Exro is providing the Motor Driver to be tested and validated in Potencia's world class facility in Mexico City. The Customized Driver was delivered at the end of June and is now undergoing rigorous testing at Potencia. After Potencia's internal testing is complete, the driver will be installed in a vehicle and road tested. This will provide the first on-road application for Exro.

Medallion Resources Limited (CVE:MDL) (OTCMKTS:MLLOF) announced on Wednesday that it has appointed experienced chartered accountant and finance professional Robert Doyle as the company’s new chief financial officer and corporate secretary. Doyle, a principal of Pacific Opportunity Capital - a highly regarded Vancouver-based corporate services firm - will take over from Tom Arnould, who has stepped down as Medallion's longtime CFO after an orderly transition period.

Mawson Resources Limited (TSE:MAW) (OTCPINK:MWSNF) is changing its name to Mawson Gold Limited as the exploration company narrows its focus on precious metals. The Vancouver-based company recently acquired a portfolio of gold projects in the Australian state of Victoria to complement its flagship Rajapalot gold-cobalt exploration project in Finland. The firm also owns 483 square kilometres of ground in the renowned Mt Isa region of Queensland, where 5% of the world’s silver resources are contained.

Berkwood Resources Ltd. (CVE:BKR) has announced plans for a four-for-one share consolidation and said it also intends to change its name to Goldcore Resources Ltd. The group said the intended consolidation will reduce the issued and outstanding shares of the company from 69,781,341 to 17,445,335 shares, assuming no other change in the issued capital. The company's outstanding options and warrants will also be adjusted on the same basis - one new for four old - as the common shares, with proportionate adjustments being made to exercise prices. Explaining the moves, the company added: “The board of directors believes that the proposed share consolidation and change of name are necessary to facilitate new equity investments in the company, to finance continuing business activities and to investigate new opportunities.”

True Leaf Brands Inc. (CSE:MJ) (OTCPINK:TRLFF) (FSE:TLA) has announced that, on July 31, 2020, True Leaf and its subsidiaries obtained Orders from the Supreme Court of British Columbia extending the stay of proceedings in the companies' restructuring proceedings under the Bankruptcy and Insolvency Act (Canada). The stay of proceedings has been extended to September 15, 2020.

BetterLife Pharma Inc. (CSE:BETR) (OTCQB:BETRF) (FRA:NPAT), an emerging biotechnology company, has announced that trading of its ordinary shares on the Canadian Stock Exchange and OTC Markets will remain temporarily halted in order to allow the company to file its new listing statement following its merger announcement with Altum Pharmaceuticals on July 30, 2020.  The routine trading halt will continue until a new communication is released by the company. Altum’s therapeutic pipeline consists of 3 products, including AP-003, a patent-pending interferon a2b (IFNa2b) inhalation formulation. Recent studies in China and the UK have provided data that suggest the therapeutic efficacy of interferon-based treatments for coronavirus (COVID-19).

Medexus Pharmaceuticals Inc. (CVE:MDP) (OTCQX:PDDPF) has announced that it plans to host a conference call at 8.00am Eastern Time on Wednesday, August 12, 2020, to discuss the company’s financial results for the fiscal 2021 first quarter ended June 30, 2020, as well as the company’s corporate progress and other developments. The group said it expects to file its financial statements along with its MD&A post-market on August 11, 2020. The conference call will be available via telephone by dialing toll-free 844-602-0380 for Canadian and US callers or +1 862-298-0970 for international callers, or on the company’s Investor Events section of the website: https://www.medexus.com/en_US/news-media/events. A webcast replay will be available on the company’s Investor Events section of the website - https://www.medexus.com/en_US/news-media/events - through November 12, 2020. A telephone replay of the call will be available approximately one hour following the call, through August 19, 2020, and can be accessed by dialing 877-481-4010 for Canadian and US callers or +1 919-882-2331 for international callers and entering conference ID: 36502.

Ideanomics (NASDAQ:IDEX) said the release of its 2020 second-quarter financial results will now take place on Monday, August 10, 2020, a day earlier than previously announced. A press release will be issued at approximately 4.00pm EDT Monday, August 10, 2020, followed by a conference call at 4.30pm EDT where members of the company's senior management team will give prepared remarks, followed by a short question and answer session. Webcast Link: At www.ideanomics.com or click on https://78449.themediaframe.com/dataconf/productusers/ssc/mediaframe/39249/indexl.html. Alternately, event details can be found at: https://investors.ideanomics.com/2Q2020. EarningsCall: Dial-in Number: (Toll-Free US & Canada): 877-407-3107 or 201-493-6796; for China: +86-400-120-2840. Investors and analysts can email their questions in advance of the webcast/call and, time permitting, management will take further questions during the live Q&A session to ir@Ideanomics.com. A replay of the webcast will be available on the company's website after the conclusion of the event.

Humanigen, Inc. (OTCQB:HGEN), has announced that Cameron Durrant, its chief executive officer and Dale Chappell, its chief scientific officer will present a company overview and business update at the BTIG Virtual Biotechnology Conference 2020 on Tuesday, August 11, 2020, at 2.00pm Eastern Time.  A live webcast of the event can be accessed at https://www.humanigen.com/investor-materials. An archived replay of the event will be available on the company website for 30 days following the event.

NexTech AR Solutions Corp. (OTCQB:NEXCF) (CSE:NTAR) (FSE:N29), an emerging leader in augmented reality for eCommerce, AR learning applications, and AR-enhanced video conferencing and virtual events, has announced that its CEO Evan Gappelberg will present live at VirtualInvestorConferences.com on August 6, 2020, at 12.00pm EST via weblink: https://www.tinyurl.com/August6VICPR. This will be a live, interactive online event where investors are invited to ask the company questions in real-time. To learn more about the event at www.virtualinvestorconferences.com.

OTC Markets Group Inc. (OTCQX:OTCM), operator of financial markets for 10,000 U.S. and global securities, has announced that Monarch Gold Corporation (TSX:MQR) (OTCQX:MRQRF), a gold exploration company, has qualified to trade on the OTCQX Best Market and today upgraded from the Pink market. Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their US investors. Jean-Marc Lacoste, president and chief executive officer of Monarch said: "This is another important milestone for Monarch, which will facilitate trading in our stock for US investors as we continue to expand our shareholder base to a larger pool of retail and institutional investors. The timing is perfect, as we're seeing an increase in volume coming from US investors over the last three months."

OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, announced that Medexus Pharmaceuticals Inc. (CVE:MDP) (OTCQX: PDDPF), a commercial-stage specialty pharmaceutical company, has qualified to trade on the OTCQX Best Market and has upgraded today from the OTCQB Venture Market. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Ken d'Entremont, chief executive officer of Medexus, commented: "As a result of organic growth across each of our key product lines, as well as our recent acquisition of our new U.S.-based commercial hematology asset, IXINITY, we achieved record revenue of $25.6 million in our most recent quarter ended March 31, 2020. We look forward to building awareness around Medexus given our increased presence in the US market, and believe the OTCQX will provide an enhanced trading platform for US investors."

OTC Markets Group Inc.(OTCQX:OTCM) announced Wednesday that it will report its second-quarter financial results on Wednesday, August 12 after market close. The group will host a conference call and webcast at 8:30 am ET on Thursday, August 13, during which management will discuss the results in more detail. Those interested in participating can dial 1-877-665-5564 in the US and 1-470-495-9522 internationally. The conference ID is 9588469.

Quick facts: Heritage Cannabis Holdings Corp.

Price: 0.175 CAD

Market: CSE
Market Cap: $82.9 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Heritage Cannabis Holdings Corp. named herein, including the promotion by the Company of Heritage Cannabis Holdings Corp. in any Content on the...


Heritage Cannabis enters into merger agreement with Premium 5

Heritage Cannabis (CSE: CANN-OTCQX: HERTF) CEO Clint Sharples and David Schwede, CEO of Premium 5 joined Steve Darling from Proactive with news the two companies have agreed to a merger under the Heritage Cannabis Brand. Sharples shares details about the merger and what it means for both...

3 weeks, 6 days ago

18 min read