NA Proactive news snapshot: Gungnir Resources, Medallion Resources, Perma-Fix Environmental Services, Co-Diagnostics, Blackrock Gold, First Mining Gold 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

Gungnir Resources Inc (CVE:GUG)(OTCPK:ASWRF), the Sweden-focused metals explorer, told investors it had "significantly" expanded mineralization via on-going drilling at the Knaften 300 gold zone at its flagship Knaften asset. Multiple zones of disseminated arsenopyrite, a key indicator of gold mineralization on the property, were found, the group said in a statement on Friday. Assays are pending.

Medallion Resources Ltd (CVE:MDL) (OTCPINK:MLLOF) is raising up to C$1.5 million to boost its US-focused rare earths business, it announced Friday. The Vancouver-based company will offer up to 10 million units priced at C$0.15 per unit, with each unit consisting of one share and one-half warrant exercisable at C$0.20 for a 36-month period following the offering’s close. "We're pleased to have significant lead orders in this financing, including existing investors," said Mark Saxon, Medallion’s CEO in a statement. "This provides a solid financial footing to move the company forward quickly on our US-focused rare earth strategy."

Perma-Fix Environmental Services Inc (NASDAQ:PESI) revealed second quarter revenue gains in results posted before the open on Friday thanks to major growth in its environmental services operations despite delays imposed by the coronavirus. Overall, revenue for the three months ended June 30 jumped more than 28% year-over-year to $22 million from $17.1 million in the same period of 2019. Breaking it down, revenue from its services segment more than doubled to $14.2 million from $7 million, while revenue from its treatment segment declined to $7.8 million from $10.1 million.

Blackrock Gold Corp (CVE:BRC) said it has appointed an institutional sales and corporate finance professional, Daniel Vickerman as an independent director. He has 25 years' experience in the financial industry and was formerly the managing director, head of UK for Beacon Securities UK and former managing director, head of UK for Edgecrest Capital. He also spent over four years at a London based Alternative asset manager with over $400 million assets under management (AUM), trading commodities and FX.

Water Tower Research LLC was formally launched on Thursday by Wall Street veterans Tim Gerdeman and Shawn Severson to provide issuer-sponsored equity research and investor intelligence. The newly minted research firm will help companies tap into smart, well-thought-out market research. More significantly, Water Tower said it is writing “research for the other 99%” as the equity research is digitally distributed and free-to-access for institutional and retail investors, unlike traditional commission-and subscription-based equity research “intentionally limited to a narrow paying audience.” Water Tower Research co-founder Shawn Severson said the traditional sell-side equity research model has focused on the 1% of large, commission-paying investors, whereas their research reaches the other 99% of institutional investors, hedge funds, family offices and retail investors

First Mining Gold Corp (TSE:FF) (OTCQX:FFMGF) announced Friday that it had closed its deal with gold junior Treasury Metals Inc (TSE:TML) (OTCQX:TSRMF) to merge the Goldlund and Goliath properties in Ontario. The deal creates a district-scale multimillion-ounce gold development project in the province that is poised to advance towards construction. Vancouver-based First Mining will become the largest shareholder in Treasury Metals, which will operate the project going forward.

Todos Medical Ltd (OTCQB:TOMDF) reported strong sales of its COVID-19 testing kits during the month of July as laboratories across the US ramp up testing capacity in the wake of the coronavirus pandemic. The Israeli diagnostics company said Friday that it saw revenue of over $550,000 for the month, particularly from Clinical Laboratory Improvement Amendments (CLIA) laboratories in Florida, Illinois, North Carolina, Pennsylvania, Texas and Wisconsin, where cases of COVID-19 have recently surged. Todos distributes PCR testing kits to test for an active COVID-19 infection as well as point-of-care (POC) antibody tests.

CleanSpark Inc (NASDAQ:CLSK) shares surged on Friday as the software and services firm unveiled an exclusive tie-up with Sunshine Energy – one of Costa Rica's largest energy developers. The agreement allows Sunshine the exclusive right to sell CleanSpark's products and services, including licensing its mVSO, the microgrid Value Stream Optimizer, throughout the Central American country, the firm said in a statement.

Perma-Fix Environmental Services Inc (NASDAQ:PESI) revealed second quarter revenue gains in results posted before the open on Friday thanks to major growth in its environmental services operations despite delays imposed by the coronavirus. Overall, revenue for the three months ended June 30 jumped more than 28% year-over-year to $22 million from $17.1 million in the same period of 2019. Breaking it down, revenue from its services segment more than doubled to $14.2 million from $7 million, while revenue from its treatment segment declined to $7.8 million from $10.1 million. 

Silvercorp Metals Inc (NSYEAMERICAN:SVM) (TSX:SVM), the underground mine specialist in China, has reported an uplift in net income and revenue and a decrease in production costs in its first quarter to end-June, 2020. In a statement, the company revealed it had sold 1.9 million ounces of silver, 1,100 ounces of gold, 20.9 million pounds of lead in the three month period, representing increases of 1%, 10% and 17% respectively, compared to the same period in the last fiscal year. It also sold 7 million pounds of zinc in the period, which was down 5% on the first quarter of fiscal 2020. That all led to revenue of US$46.7 million, up 2% from the US$45.6 million posted in the same period last year, and net income coming in at US$15.5 million, up from US$12.6 million in the same quarter last year.

CytoDyn Inc (OTCQB:CYDY), which is developing leronlimab (PRO 140) to battle multiple diseases, said Friday that it will submit requests for pre-submission meetings in the UK for the drug as an HIV treatment in combination with highly active antiretroviral therapy (HAART), for highly treatment-experienced HIV patients, as a 350 mg self-injectable dose. In addition, the Vancouver, Washington-based company said it will seek emergency approval of leronlimab for coronavirus (COVID-19) patients with mild-to-moderate symptoms. CytoDyn said it will share its topline report from the Phase 2 trial, along with the Clinical Study Report (CSR). The company will also prepare requests for pre-submission meetings in European Union member countries.

Nomad Royalty Company Ltd (TSE:NSR) (OTCQX:NSRXF), a new Canadian royalty and streaming company, reported its inaugural second-quarter results on Friday highlighted by US$6 million in revenue from a growing portfolio of assets. The Montreal-based company holds a hold a portfolio of 10 royalty, streaming and gold loan assets, five of which are on producing mines. In May, Nomad executed a reverse takeover that was made up of a vend-in transaction from Orion Mine Finance and Yamana Gold Inc, which each own around 77% and 13% of Nomad’s outstanding shares respectively. Nomad acquired five assets in Africa, Australia and the US as well as a gold loan as part of a US$268 million transaction with Orion and a handful of royalties on Yamana assets in Brazil and Argentina.

Co-Diagnostics Inc (NASDAQ:CODX) announced Friday that its Logix Smart coronavirus detection test has been authorized for use in Australia. The company’s distributor in the country has received a Register of Therapeutic Goods certificate from the Australian government. The country joins the US, India, Mexico, European Community countries and others in allowing the sale and use of the in vitro diagnostic test.  The move comes on the heels of a coronavirus outbreak in Melbourne, the company said, which prompted the state of Victoria to declare a state of disaster. 

Karora Resources Inc. (TSX:KRR), formerly RNC Minerals, said Friday that, following an extensive due diligence period, it has closed the acquisition of the Spargos Reward Gold Project in Western Australia from Corona Resources Limited. The deal, which was originally announced on May 11, 2020, sees Karora acquire the project for A$4 million in cash and is subject to a minimum spending commitment of A$2.5 million on exploration and development over a two-year period from the closing date. The Spargos Reward project tenements cover 33 square kilometres located in the Eastern Goldfields of Western Australia, 35 minutes by road to from Karora’s Higginsville gold operation (HGO).

Innocan Pharma Corporation (CSE:INNO) announced Thursday that its SHIR CBD Derma Cosmetic product line has received the greenlight to be marketed in the European Union. The company said its products had “successfully" passed safety assessment in accordance with European Union cosmetic regulation No 1223/2009, and also received a EU Cosmetic Product Safety Report for marketing in the European Union. According to Innocan, SHIR skincare products combine the benefits of CBD with the most effective ingredients in an “innovative formula” to deliver “visible results.” The SHIR Beauty & science products that are approved for marketing in the Europe include a SHIR CBD+ ANTI-AGING Beauty Sleeping Mask, SHIR CBD MUST Eye Serum, SHIR CBD MUST Recovery Lotion, SHIR CBD MUST Glow Oil, SHIR CBD MUST Face Cream, and SHIR CBD+ ANTI-AGING Facial Serum.

Gold Resource Corporation (NYSEAMERICAN:GORO) said accomplished mining professional and current board director Ms Kimberly Perry will succeed John Labate as the miner's chief financial officer. Labate is retiring and Perry will move into the role and step down from her board seat effective August 14, 2020, the firm said in a statement. Experienced mining executive Labate joined the group as CFO in 2015 and has been instrumental in strengthening its financial strategy and structure. He will stay on as a consultant to ensure a smooth transition, GORO noted. Meanwhile, Perry has been a director at GORO since April 11, last year and has 16 years of mining industry experience. Most recently, she held various roles at Alacer Gold Corporation (TSE:ASR), including chief compliance officer, treasurer and vice-president.

Binovi Technologies Corp (CVE: VISN) (OTCQB: BNVIF), the Toronto-based healthcare group, revealed that Eric Phillips, a White House fellow between 1990 and 1991, has been hired as a strategic advisor to assist with the commercialization of the Binovi Product Platform. "We are extremely privileged to have Mr. Phillips join the company in an official Advisory capacity," said  Adam Cegielski, Binovi founder and chief executive, in a statement. Phillips is a former advisor on sustainable development for the government of Guyana, and the CEO of the Green Guyana Expo and International Business Summit. He has served internationally as chairman of the board, CEO, MD, VP, COO, program director, and engineer in seven countries

Fireweed Zinc Ltd. (CVE:FWZ) has announced the closing of an over-subscribed, upsized non-brokered private placement, raising total gross proceeds of C$5.2 million. The offering, announced on July 15, 2020, will provide Fireweed with capital to fund the 2020 work program primarily focused on drilling in the Boundary Zone at Macmillan Pass but also for the exploration of new target areas. In a statement, Fireweed CEO Brandon Macdonald commented: “Thanks to impressive investor demand we are able to close this financing on proceeds almost 50% higher than what we opened on.”

FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE.CN) has announced the closing of a previously announced agreement with investors for the purchase and sale of 2,762,430 Class B subordinate voting shares and warrants to purchase 1,381,215 shares at a purchase price of US$3.62 per share via a registered direct offering. The securities sold comprise one share together with one-half of one warrant to purchase a share at an exercise price of US$4.26 per share. The warrants are immediately exercisable and expire five years from the date of issuance. The company has also granted the A.G.P./Alliance Global Partners, sole placement agent for the offering, an option to arrange for purchases of up to an additional US$10.0 million of the securities on the same terms for a period of 30 days following the initial closing of the offering.

GoviEx Uranium Inc. (OTCMKTS:GVXXF) (CVE:GXU) has closed the first tranche of a fully subscribed non-brokered private placement offering for gross proceeds of approximately $5 million. The group said the net proceeds from the private placement will be used to finance continued exploration and development activities on GoviEx's Madaouela, Mutanga and Falea projects and for general working capital purposes. The first tranche consists of the issue of up to 35,714,286 units at a price of 14 cents per unit. Each unit consist of one Class A common share in the capital of the company and one transferable share purchase warrant. Each warrant will entitle the holder to acquire one common

WeedMD Inc. (CVE:WMD) (OTCQX:WDDMF) (FSE:4WE), a federally-licensed producer and distributor of medical-grade cannabis, has announced that in accordance with the provisions of its deferred share unit (DSU) plan it has authorized the grant of an aggregate of 356,434 DSU's to certain directors of the company as compensation for their services. The DSUs will vest immediately and are granted in lieu of cash compensation for services rendered during the first and second quarter of 2020. The purpose of the DSU Plan is to promote greater alignment of interests between the company's shareholders and directors while reducing the cash expense of compensating its directors.

Duos Technologies Group, Inc. (NASDAQ:DUOT), a provider of intelligent security analytical technology solutions, said it will hold a conference call on Thursday, August 13, 2020, at 5.00pm Eastern time/2.00pm Pacific time to discuss its financial results for the second quarter ended June 30, 2020.  Duos management will host the conference call, followed by a question and answer period. To access the call: dial-in: 877-407-3088; International dial-in: +1 201-389-0927; Confirmation: 13708192. The conference call will be broadcast live via telephone and available for online replay via the investor section of the company's website at: https://ir.duostechnologies.com/

Mandalay Resources Corporation (TSX:MND) (OTCQB:MNDJF) has announced that its second-quarter 2020 financial results will be released after the market close on August 12, 2020, followed by a conference call with Dominic Duffy, president and chief executive officer of Mandalay, for investors and analysts on August 13, 2020, at 8,00am (Toronto time). Analysts and interested investors are invited to participate using the following dial-in numbers - Participant Number: (201) 689-8341; Participant Number (Toll free): (877) 407-8289; Conference ID: 13708185. A replay of the conference call will be available until 11:59 PM (Toronto time), August 27, 2020, and can be accessed using the following dial-in number - Encore Toll Free Dial-in Number: (877) 660-6853; Encore ID: 13708185.

Phunware, Inc. (NASDAQ:PHUN), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, has announced it will release its second-quarter 2020 financial results after the stock market close on Friday, August 14, 2020. Phunware said it will also provide an earnings press release and a pre-recorded transcript that will be available on the company’s Investor Relations website at investors.phunware.com.

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 Silvercorp Metals Inc named herein, including the promotion by the Company of Silvercorp Metals Inc in any Content on the Site, the Company...


Touchstone Exploration Shareholder Q&A

Touchstone Exploration Inc's (LON:TXP) Paul Baay joins Proactive London's Katie Pilbeam to answer questions from shareholders. Following Baay's live presentation at the Proactive One2One Investment Forum, shareholders were given the chance to put forward all of their queries. Baay runs...

4 hours, 15 minutes ago

13 min read