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NA Proactive news snapshot: IEC Electronics, Innocan Pharma, Ion Energy, Alchemist Mining UPDATE ...

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

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IEC Electronics Corp (NASDAQ:IEC) announced Tuesday that it has entered into an agreement to purchase an 86,000 square-foot facility in Rochester, NY. The new facility is expected to provide additional capacity and more importantly, access to a larger pool of qualified resources to support future organic growth, the company said in a statement. “This new facility represents a key building block for our company, establishing a Rochester area campus enabling us to tap into both the eastside and now the westside of the greater Rochester market,” said CEO Jeffrey Schlarbaum.

Innocan Pharma Corporation (CSE:INNO) said Tuesday that clinical studies have demonstrated the effectiveness of the firm’s SHIR CBD facial serum on skin hydration. The study looked at the impact of SHIR, which contains 300 milligrams of CBD, on hydration levels by measuring the skin capacitance periodically up to 24 hours after the serum was applied. Results indicated significant hydration increases for each two-, four-, eight, and 24-hour period after application, according to a release from Innocan. In addition, the serum was well tolerated with no uncomfortable symptoms reported by participants.

Ion Energy Ltd (CVE: ION) announced that it had appointed Mongolian mineral exploration veteran Enkhtuvshin Khishigsuren to the board and two new special advisors with deep knowledge of the rapidly growing lithium industry. Ion Energy, a company with one of the largest exploration licenses in Mongolia, now has a five-member board with CEO Ali Haji, Aneel Waraich, Matthew Wood, Bataa Tumur-Ochir and Khishigsuren. Khishigsuren rounds out the lithium exploration company’s board with over three decades of mineral exploration experience in Mongolia. Since 2005, Khishigsuren has been running his own company, Erdenyn Erel, and providing exploration and consulting services to multinational mining companies.

Ion Energy Ltd (CVE:ION), the lithium exploration company with its sights set on Mongolia, is estimated to hold a valuation of C$34 million according to research firm Couloir Capital, which announced it was initiating coverage of Ion last week. The Canadian company has one of the largest exploration licenses in Mongolia, Couloir said in a report from May, making Ion an emerging company in the country. Its project, Baavhai Uul, is a property comprising more than 80,000 hectares in the southeast, near China. Because Ion is still in the early exploration phase, the firm declined to specify a price target and rating.

Alchemist Mining Inc (CSE:AMS) has closed the first tranche of its non-brokered private placement that raised aggregate gross proceeds of $500,000. Some 14,285,714 common shares were issued at 3.5 cents each. The company intends to close the balance of the offering concurrent with closing of its acquisition of All Nations Cannabis Corp, which will constitute a change of business of the company. "We are extremely pleased to announce that investors from within the indigenous communities that we are looking to serve have enthusiastically embraced this first tranche of our offering. They recognize the potential opportunities as the company transitions to the cannabis 2.0 market sector," said CEO Paul Mann. The company intends to use the proceeds of the first tranche for general working capital purposes.

Blackrock Gold Corp (CVE:BRC) said it is mulling plans to spin out its once flagship property Silver Cloud in Nevada into a separate public company to unlock its value. "With gold hovering near all-time highs and our Tonopah West property dominating the show, we see this as the perfect backdrop ..," said Andrew Pollard, CEO of Blackrock Gold in a statement on Tuesday. "We don't believe the market is fully valuing the sum of our parts and we see this as the ideal solution to ensure both projects get the attention and command the valuation of which they deserve, with purpose-built teams for each," he added. Management currently envisages Blackrock shareholders receiving one SpinCo Share for every three Blackrock Gold shares held. Blackrock's shareholders would end up owning shares in both Blackrock and SpinCo in the same proportions.

AgraFlora Organics International Inc (CSE:AGRA) (OCTMKTS:AGFAF) said that its subsidiary Farmako GmbH has executed a binding supply agreement with ZenPharm Limited, a subsidiary of Zenabis Global Inc (TSX:ZENA), to secure additional medical cannabis stock. As result of the agreement, ZenPharm will supply EU Good Manufacturing Practice (GMP) quality medical cannabis flower cultivated by Zenabis to Farmako for distribution to patients in Germany. The agreement will facilitate the distribution of 1,500 kilograms of cannabis flower by Farmako in Germany over a three-year term. Farmako will distribute the products to its network of German pharmacies and the products will carry Farmako’s branding, a key step in building “brand awareness and loyalty” with physicians, pharmacists and patients. The products include high potency THC flower and balanced THC and CBD flower, two categories that are in high demand in Germany.

Marrone Bio Innovations Inc (NASDAQ:MBII) and Rizobacter, a subsidiary of Bioceres Crop Solutions Corp (NYSE:BIOX), have announced the signing of an exclusive agreement to distribute foliar fertilizer and plant health technology in Argentina, Uruguay, Paraguay and Bolivia. South America is well-known for its extensive soybean, corn and wheat production – crops where Marrone Bio’s technology will be an important tool in helping growers increase yield through improved nutrition and plant health. Demand for biologicals is increasing in the region with an estimated market value of US$1 billion and a projected CAGR of 11%. Adoption of inoculants, biostimulants and biopesticides is rapidly growing, driven by increased farmer awareness and consumer demand for more environmentally sustainable agricultural practices. With 43 years of history and a renowned reputation in the South American market, Rizobacter is well-placed to meet the increasing biological demands of growers with this revolutionary plant health product.

Tectonic Metals Inc (CVE:TECT) (OTCQB:TETOF) released the first set of results from its 3,200 metre campaign at the Tibbs gold project on Tuesday that included high grade intercepts of up to 19.3 grams per ton gold. Drilling at the Michigan zone on the property, which is located in Alaska, revealed additional high-grade gold, including 6.7 grams per ton (g/t) gold over 9.1 metres (including 19.3 g/t over 3.1 metres) and 2.6 g/t gold over 12.2 metres (including 5.6 g/t over 3.1 metres). The program delineated over 275 metres of strike, with all the holes drilled this year intersecting gold mineralization along a northeast-trending corridor open to the northeast, southwest, and at depth.

WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) provided an update on Tuesday on its adult-use market initiatives to grow its market presence through its Color Cannabis and Saturday brands across Canada. The Toronto-based company said it is executing on its commercial growth with the Color Cannabis launch of Black Sugar Rose, the introduction of a vape and pre-roll line, as well as new nitrogen-infused packaging. "Since the beginning of the year, we've made great strides in accelerating our product innovation, further enhancing the market appeal of our Color and Saturday cannabis brands, as well as expanding distribution to a discerning national consumer base that is ever evolving," said WeedMD Chief Commercial Officer Stephen Ng.

Humanigen Inc (OTCQB:HGEN), which is focused on its lead drug lenzilumab being used to prevent and treat an immune hyper-response called the cytokine storm in Coronavirus (COVID-19) patients, revealed a strategic collaboration with Swiss firm Lonza to expand the manufacturing capacity for lenzilumab. This week, Humanigen’s Phase 3 registration trial of lenzilumab in patients with COVID-19 was unanimously recommended for continuation without modification by an independent data safety monitoring board (DSMB) after a planned interim analysis. Lenzilumab is currently in Phase 3 clinical trials for COVID-19, ahead of potential Emergency Use Authorization in 2020 and subsequent commercialization. Burlingame, California-based Humanigen said the collaboration enables it to “leverage” Lonza's monoclonal antibody manufacturing and regulatory expertise. Humanigen also said it has commenced an underwritten public offering of 8 million shares of common stock. Humanigen intends to use the net proceeds to support its manufacturing, production and commercial preparation of lenzilumab as a potential therapy for COVID-19 patients and for general corporate purposes.

Mawson Gold Ltd (TSE:MAW) (OTCPINK:MWSNF) has reached another milestone at its flagship Rajapalot gold-cobalt project in Finland - doubling the maiden resource it first announced in 2018. Twenty months ago the resource group reported 4.3 million tonnes of inferred resource at the property at 2.3 grams per ton (g/t) gold and 430 parts per million (ppm) cobalt. Now, the company has reported an updated open pit and underground constrained inferred resource of 9 million tonnes at a similar grade of 2.1 g/t gold and 570 ppm cobalt. The latest estimate covers the Raja, Palokas, South Palokas and Rumajärvi prospects, which each lie around 3 kilometres (km) apart within the same geological trend. The firm said 72% of the resource falls within the open pit outline.

Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) announced Tuesday a positive result of its End of Phase 2 meeting with the US Food and Drug Administration (FDA) on the development and registration pathway for MAT9001, a potential best-in-class prescription omega-3 therapy. The company said the official minutes of the meeting confirmed that it and the FDA are aligned on key next steps for MAT9001’s Phase 3 development program and registration pathway for an initial indication to treat severe hypertriglyceridemia (SHTG), a clinical disorder associated with major complications such as pancreatitis and atherosclerotic cardiovascular disease. Matinas, based in Bedminster, New Jersey, said it remains on track to initiate its Phase 3 program in the first half of 2021.

First Mining Gold Corp (TSE:FF) (OTCQX:FFMGF) said it is making good progress on the pre-feasibility study (PFS) for the Springpole gold project in Ontario, which is on track to be delivered in the first quarter of 2021. Springpole is one of the largest undeveloped gold projects in Canada, and in a wide-ranging update, First Mining said that throughout the PFS process, it had carried out a number of so-called 'trade-off' studies to optimize the project, reduce the overall footprint, mitigate environmental risks, and improve its economics.

Byrna Technologies Inc. (OTCQB:BYRN) (CSE:BYRN) has announced the formation of a new global business unit that will focus on domestic and international law enforcement agencies and private security companies. This new division, Byrna LE will introduce the company's Byrna line of less-lethal weapons to domestic and international law enforcement agencies as well as to global private security companies and other professionally licensed entities.  With the recent deaths of unarmed civilians and the resulting civil unrest, there is strong community support across the United States for government entities to more broadly adopt the use of less-lethal weapon systems and tactics, the company said. Leading Byrna's law enforcement business will be RJ Boatman, the group's executive vice president for Governmental Affairs from September 1, 2020. Prior to joining the company in this capacity, he had been working with Byrna as a consultant for several months, spearheading the development of its law enforcement training program, and before that, he worked in law enforcement for more than 35 years.

Pacton Gold Inc (CVE:PAC) (OTCPINK:PACXF) has wrapped up high-resolution magnetic surveys at four targets on its Red Lake exploration project in Ontario, it said Tuesday. Initial survey results defined multiple prospective areas at the Gullrock property, which is located along the same trend that hosts the famed Red Lake gold mine operated by Australia’s Evolution Mining Ltd (ASX:EVN).

Thoughtful Brands Inc (CSE:TBI) (OTCQB:PEMTF) (FRA:1WZ1), the renamed Mota Ventures, revealed on Tuesday that it saw its three months to August revenue jump 19% year-over-year, driven by the popularity of its immunity-boosting Nature's Exclusive CBD brand. For the three summer months, the natural health products and e-commerce technology company, posted revenue of C$8,861,000. Thoughtful Brands further broke out the revenue figure for each month, showing August revenue of C$3,809,000, with related expenses of C$3,652,000, July revenue of C$2,340,000 with related expenses of C$2,418,000, and June revenue of $2,712,000 with expenses of C$2,775,000.

Steppe Gold Ltd (TSE:STGO), the precious metals miner, updated Tuesday on exploration in Mongolia, where the firm says it continues to uncover high-grade drill results from its flagship ATO gold mine. Three diamond drill rigs are currently turning 24/7 at ATO and the aim is to post resource upgrades on the existing ATO deposits and to deliver a maiden resource on the firm's Mungu Discovery before the end of the year. Highlight assays include 22 metres (m) at 2.4 grams per ton (g/t) gold from 85 m at the ATO4 deposit and 34.3 m at 7.6 g/t gold, 24.11 g/t silver from 259.7 m at the Mungu discovery. Hole assays from this year at Mungu include 15 m at 7.81 g/t gold, 6.07 g/t silver from 331 m.

Q BioMed Inc (OTCQB:QBIO), a commercial-stage biotech company, announced Tuesday the initial commercial uptake of Strontium89, its US Food and Drug Administration-approved drug for the non-opioid treatment of metastatic cancer in the bone. The company had announced the US-based launch of Strontium89 (Strontium Chloride Sr-89 Injection, USP) in the first quarter of 2020. But the Coronavirus (COVID-19) pandemic slowed the diagnosis and treatment of cancer in many patients throughout spring and into summer, and severely limited the industry's access to physicians due to restrictions on access and availability. 

Killi Ltd. (CVE:MYID)(OTCMKTS:MYIDF), a global leader in consumer privacy, said it has added 25 million new accounts in September, following the 4.8m account additions made in August. The new accounts boost represent additional scale to the Killi ecosystem, which compensates users in cash for the use of their data. Killi data is first-party and abides by all new privacy regulations, including the California Consumer Privacy Act (CCPA). The Killi solution solves the gap for brands and media agencies increasingly looking to purchase compliant data, as more scrutiny is placed on where firms are accessing their data.

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) announced Tuesday that UK-based window construction and media firm Fenestration Digital has chosen the company’s InfernoAR video conferencing platform to conduct five virtual events in 2020 and 2021. The company will be paid more than C$280,000, in addition to sponsorship opportunities with virtual booths and augmented reality (AR), both of which could push that figure higher.

Ideanomics (NASDAQ:IDEX) said its electric vehicle division, Mobile Energy Global (MEG) delivered a total of 203 units in the period from  July 1, 2020, to August 31, 2020. Of that total, MEG delivered 178 Taxis/Ride-Hailing vehicles and 25 heavy trucks in the period, while it also invoiced for a further 557 Taxis/Ride-Hailing vehicles. Ideanomics is a global company that facilitates the adoption of commercial electric vehicles and supports next-generation financial services and fintech products. The company is headquartered in New York, NY, with offices in Beijing, Guangzhou, and Qingdao, and operations in the US, China, Ukraine, and Malaysia.

Tocvan Ventures Corp (CSE:TOC) told shareholders it is making quick progress with exploration work at its Pilar precious metals project in Mexico. The firm said Tuesday it had kicked off drill permitting and started a controlled source audio-magnetotellurics (CSAMT) survey at the property in the state of Sonora. A recent IP and magnetic survey at Pilar revealed “significant” structures that reached depths of up to 350 metres, according to Tocvan, giving the Calgary-based junior the confidence to start a more detailed CSMAT survey.

KULR Technology Group, Inc. (OTCQB:KULR), a leading developer of next-generation thermal management technologies, has become a member of the Outdoor Power Equipment Institute (OPEI), demonstrating the company's commitment to the safe design and manufacturing of lithium batteries. OPEI is an international trade association representing more than 100 power equipment, engine and utility vehicle manufacturers and suppliers. Its members support the use of lithium batteries in power outdoor equipment, such as leaf blowers, chainsaws, robotic lawnmowers and golf carts, and are committed to safe consumer-use of these products. As a member of the OPEI, KULR said it now has the opportunity to engage with manufacturers and suppliers, and encourage them to use the company's thermal runaway mitigation technology to achieve this balance.

BevCanna Enterprises Inc. (CSE:BEV) (OTCQB:BVNNF) (FRA:7BC), an emerging leader in infused cannabis beverages, announced that its common stock was approved for quotation on the OTC Markets Group Inc.'s OTCQB Venture Market under the symbol "BVNNF", effective as of the open of trading on September 2, 2020. John Campbell, BevCanna's CFO said: "Uplisting to the OTCQB is an important milestone in BevCanna's growth strategy. The broader exposure afforded by the OTCQB will increase our visibility within the investment community and assist in broadening our stockholder base."

Valeo Pharma Inc (CVE:VPH) has been initiated with a 'buy' recommendation and a $2.30 share target by Industrial Alliance Securities analyst Chelsea Stellick, The Globe and Mail reported in its Tuesday, September 15, 2020, edition. Stellick, currently the lone analyst covering the stock, believes Valeo "represents good upside in the short to medium term." She says the company has a "proven" record in partnering with specialty pharmaceutical firms to commercialize their products for the Canadian market. Valeo currently has seven marketed products with two more set for the coming months and another three expected over the next 12 months. She calls two of these products, Redesca for treating blood clots and bioflavonoid HesperCo, "game-changing opportunities." As Stellick concludes in the initiation note: "Valeo leverages its strong partnerships created over the past seventeen years to focus on building its portfolio to meet the needs of specialists within its three targeted therapeutic areas. The company searches for products with potential Canadian revenues between $5-20-million, which is generally below the threshold of interest for large multinational companies to pursue directly."

Silvercorp Metals Inc (CVE:SVM) is rated at "hold" in new coverage by Canaccord Genuity analyst Dalton Baretto who says investors seeking leverage to the price of silver might want to consider the company, according to The Globe and Mail's latest edition. Baretto targets the shares at $12; analysts on average target the shares at $10.50. In a note, Baretto said: "Our estimates indicate that the company does not currently offer meaningful production or cash flow growth (relative to its precious metals producer peers) but does offer a clean balance sheet and a track record of disciplined capital allocation. ...  SVM offers the highest revenue exposure to silver among the mid-cap precious metals producers we cover. We estimate SVM will generate two-thirds of its revenue from silver. In our view, this exposure, coupled with the recent rise in investor interest in silver leverage, could provide SVM with a 'scarcity premium' in its trading multiples. We believe this is already occurring: SVM currently trades at 12.4 times our 2021 EBITDA estimate and 1.7 times NAV, vs. the mid-cap precious metals peer group averages of 5.3 times and 1.1 times, respectively."

Eric Sprott has confirmed that 2176423 Ontario Ltd., a corporation that is beneficially held by him, acquired 9,200,000 common shares of Aftermath Silver Ltd. (CVE:AAG) under its recent private placement at a price of $0.65 per share for an aggregated consideration of $5,980,000. As a result of the acquisition, Sprott now beneficially owns and controls 24,079,796 common shares and 7,439,898 common share purchase warrants representing approximately 19.3% of Aftermath's outstanding common shares on a non-diluted basis and approximately 23.8% on a partially diluted basis assuming the exercise of all such warrants. Prior to the acquisition, Sprott beneficially owned and controlled 14,879,796 common shares and 7,439,898 warrants representing approximately 15.1% of the outstanding common shares on a non-diluted basis and approximately 21.1% on a partially diluted basis assuming the exercise of all such warrants. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Nabis Holdings Inc. (CSE:NAB) (OTCMKTS:NABIF) (FRA:A2PL) announced that James Tworek has resigned from the company’s board of directors. with effect from September 11, 2020.

Canada Silver Cobalt Works Inc. (CVE:CCW) said it has terminated its investor relations agreement dated July 24, 2020, with GRA Enterprises LLC. Canada Silver Cobalt's flagship Castle mine and 78-square-kilometre Castle property feature strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past-producing Gowganda high-grade silver-cobalt district of Northern Ontario.

Fireweed Zinc Ltd. (CVE:FWZ) said the TSX Venture Exchange has accepted for expedited filing an amending agreement dated August 7, 2020, between the company and Maverix Metals Inc., whereby the terms to acquire a 100%  interest in and to the Mac claims, located at the MacMillan Pass area of the Yukon, have been amended. The amendment changes the fourth and last payment from $115,000 cash to $2,500 cash and 225,000 common shares. In all other respects, the original option agreement dated July 24, 2017, with Newmont Canada Holdings ULC, which was subsequently assigned to Maverix according to an assignment and assumption agreement dated June 29, 2018, and amended on July 23, 2019, remains unchanged.

Fireweed Zinc Ltd. (CVE:FWZ) said the TSX Venture Exchange has accepted for expedited filing an amending agreement dated August 7, 2020, between the company and Golden Ridge Resources Ltd., whereby the terms to acquire a 100% interest in two claim groups aggregating 659 claims located near the company's McMillan Pass property holdings in the Yukon have been amended. The amendment changes the final two option payments to exercise the option from $150,000 due on or before August 9, 2020, and $200,000 and 200,000 common shares due on or before May 9, 2021, to 900,000 common shares due within five days. In all other respects, the original option agreement, dated April 24, 2018, and as amended on April 15, 2019, and May 6, 2020, remains unchanged.

Fireweed Zinc Ltd. (CVE:FWZ) said the TSX Venture Exchange has accepted for expedited filing an amending agreement dated Aug. 11, 2020, between the company and each of Epica Gold Inc. and Carlin Gold Corp., whereby the terms for the company to acquire a 100%interest in three claim groups aggregating 624 claims located near the company's McMillan Pass property holdings in the Yukon have been amended. The amendment changes the final two option payments to exercise the option from $150,000 due on or before August 9, 2020, and $150,000 and 100,000 common shares due on or before May 9, 2021, to $75,000 and 550,000 common shares due within five days. In all other respects, the company's original option agreement dated April 23, 2018, with Constantine and Carlin, which Constantine subsequently transferred its right and interests to Epica Gold according to a notice of assignment dated July 31, 2019, remains unchanged.

Cardiol Therapeutics Inc. (TSX:CRDL) (OTCQX:CRTPF), a leader in the development of pharmaceutical cannabidiol formulations for the treatment of cardiovascular diseases, including heart failure and acute myocarditis, has said its president and CEO, David Elsley, will present a company overview at the H.C. Wainwright Virtual 22nd Annual Global Investment Conference today at 12.00pm EDT. A live webcast and replay of the presentation will be accessible on the company's website section: https://www.cardiolrx.com/investors/events-presentations/

Aurania Resources Ltd. (CVE:ARU) (OTCQB:AUIAF) (FRA:20Q) has said it will be attending the Precious Metals Summit - Beaver Creek virtual conference being held September 15-17, 2020. The group said its management will be meeting with attendees of the conference in a one-on-one setting to provide an update on exploration and drilling activities at the Company's Lost Cities - Cutucu Project in southeastern Ecuador. In addition, Aurania's chairman and CEO, Dr Keith Barron will be presenting on Wednesday, September 16. 2020, at 10.0am EDT. The presentation can be viewed via the following webcast URL: https://wsw.com/webcast/preciousmetals/aru.v/. A replay of the presentation will be available following the live webcast using the same link.

Karora Resources Inc. (TSX:KRR) has announced its participation in the upcoming Precious Metals Beaver Creek 2020 Virtual Conference to be held September 15-17, 2020 and the Denver Gold Forum 2020 Conference to be held September 20-23, 2020. The group said it will present at the Precious Metals Beaver Creek Virtual Conference at 8.00am EDT on Thursday, September 17, 2020. The live webcast of the presentation will be available at https://wsw.com/webcast/preciousmetals/krr.to/. Karora's corporate presentation and other information are available on the corporation's website at www.karoraresources.com

OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for 11,000 U.S. and global securities, has announced that Harborside Inc. (CSE:HBOR) (OTCQX:HSDEF), a California-focused cannabis company, has qualified to trade on the OTCQX Best Market nd today upgraded from the OTC Pink market. The OTCQX Market provides investors with a premium US public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among US investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. "This has been a very productive year, and this latest milestone of graduating to OTCQX will make it easier for a broader base of U.S. investors to invest in Harborside and participate in our long term success," said Peter Bilodeau, chairman and interim chief executive officer of Harborside.

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Humanigen announces 71.8 million dollars in financing

Humanigen (OTCQB: HGEN) Chairman and CEO Cameron Durant joined Steve Darling from Proactive Vancouver with news the company has secured almost 72 million dollars in financing. Durant discusses those making up that financing which is a big part of the story..

on 3/6/20

22 min read