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NA Proactive news snapshot: YayYo, Nemaura Medical, OTC Markets Group, Medallion Resources UPDATE …

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

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YayYo Inc (OTCPINK:YAYO), through its wholly owned subsidiary Rideshare Car Rentals LLC, has increased its line of credit through its fleet partnership with LMP Automotive Holdings (NASDAQ:LMPX). The California-based company, which is a leading provider of vehicles to the rideshare and delivery gig economy industry, said the initial relationship with LMP included sourcing cars under a $2.5 million program. The increase in credit added another $2 million to the program, allowing the company to immediately expand its automotive inventory by 45 cars.  YayYo said its nationwide rideshare rental fleet continues to grow, as the company serves drivers for Uber, Lyft, Grubhub, Postmates, and other gig economy leaders. The company also said it refinanced 96 vehicles, reducing the monthly payments per vehicle from $566 to $190 -- thereby greatly improving its profits and cash flow.

Nemaura Medical Inc (NASDAQ:NMRD), which is developing and commercializing its diabetes diagnostic devices and subscription services, has appointed Justin Mclarney as chief finance officer. McIarney, who started on September 15, has held various senior finance and operational roles, including most recently the position of senior director, international finance at Lands’ End Inc from January 2016 to May 2020 where he was responsible for all finance teams across the European and Japanese business units. 

OTC Markets Group Inc.(OTCQX:OTCM) has introduced a premium Blue Sky Data Product to help broker dealers stay in compliance with State Securities rules for more than 16,000 OTC Equity Securities and 80,000 OTC Corporate Fixed Income Securities. These securities are traded on the OTC market rather than on an exchange, and the regulations that govern them, known as blue sky laws, vary state-by-state for investors and broker-dealers. That’s where OTC Markets’ Blue Sky Data Product comes in. The group has compiled a data feed that provides its subscribers the tools they need to evaluate blue sky compliance for more than 96,000 securities from some 50,000 issuers.

Medallion Resources Ltd (CVE:MDL) (OTCPINK:MLLOF) has approved the grant of 1 million stock options to directors, officers, advisers and consultants. The options are exercisable into common shares of Medallion for $0.33 each in accordance with Toronto Stock Exchange Policy 4.4 and subject to the rules of the TSX Venture Exchange as well as the company's stock option plan. The options have a term of five years and will expire on September 18, 2025.

Medexus Pharmaceuticals Inc (CVE:MDP) (OTCQX:MEDXF) said it has hired Adelaide Capital to provide investor relations consulting services to the company. Adelaide will receive C$10,000 per month for an initial period of six months subject to extension by mutual agreement. Adelaide will work with Medexus to prepare corporate materials, press releases, assist with corporate development, investor relations, and investor introductions. Medexus also announced the voting results from its live webcast annual meeting of shareholders held on September 17, 2020 for Peter van der Velden, Ken d’Entremont, Michael Mueller, Benoit Gravel, Stephen Nelson, and Adele Gulfo. Medexus is a leading specialty pharmaceutical company with a strong North American commercial platform.

Globex Mining Enterprises Inc (TSE:GMX) (OTCQX:GLBXF) told shareholders Friday that one of its portfolio properties posted a new mineral resource containing 523,000 ounces of gold grading 4.7 grams per ton. The operating company, NSGold Corporation (CVE:NSX) is now seeking offers for the firm, Globex said in a statement. Quebec-based Globex vended the Mooseland property to NSGold in 2010. Since then, the company sank 58 drill holes on the project, which is located in Nova Scotia.

Todos Medical Ltd (OTCQB:TOMDF) CEO Gerald Commissiong said the company has notified the US Food and Drug Administration of its intent to distribute its proprietary qPCR testing kits to high complexity labs performing COVID-19 testing in the US. The kits demonstrated 100% sensitivity and 100% specificity in the company's validation protocols, according to the CEO. So far, the Israeli company has entered into COVID-19 testing supply contracts with five high complexity CLIA labs that its anticipates will generate over $36.5 million dollars in revenue over the next eight months — money which could help fund other business lines such as cancer and Alzheimer’s testing. The company also sees opportunities in targeting mobile testing labs. “We are now working to significantly expand the market opportunity for our test by adding key features, such as testing for influenza A and B, as well as expand the number of instruments capable of running our kits in the United States,” Commissiong said in a letter to shareholders on Friday.

The Valens Company Inc (TSE:VLNS) (OTCQX:VLNCF) revealed on Friday that 56 white label and custom manufacturing product stock keeping units (SKUs) were produced in the third quarter of 2020, a 56% jump, compared to 36 SKUs in the second quarter. The Kelowna, British Columbia-based manufacturer of cannabinoid-based products, said the 56 SKUs were made in partnership with over ten of the company's customers and span four of its product categories, with formats ranging from disposable vapes, vape cartridges, oils and oral sprays, to beverages and concentrates. Valens chalked up the surge in manufacturing to new brand partnerships and custom manufacturing agreements in the third quarter, in addition to the fulfillment of existing contracts for oil-based products in the Canadian market.

Mawson Gold Ltd (TSE:MAW) (OTCPINK:MWSNF) has updated investors on its exploration at the historic Victoria goldfields of Australia, where initial drilling at the Sunday Creek project has been completed and the rig has now moved to the Redcastle property. Three initial holes were sunk at Sunday Creek for 345 metres and first assays are expected before the end of September. A total program of 5,000 metres is planned for the remainder of 2020 in Victoria. Earlier in 2020, Mawson struck a deal with Australia-listed Nagambie Resources (ASX:NAG) giving it access to three high-grade, Fosterville-style (shallow-orogenic or epizonal) exploration projects with numerous historic mines that lacked drill testing to depth.

Predictiv AI Inc (CVE:PAI) (OTCMKTS:INOTD), a software and solutions provider in the artificial intelligence (AI) and industrial IoT markets, said Friday that it has struck a sales channel, distribution and technology integration partnership for Predictiv’s ThermalPass, an AI-enabled, thermal sensor temperature screening system with Sigfox Canada, to combat the coronavirus pandemic. Sigfox, the world's leading Internet of Things service provider, has a secure platform for connecting IoT devices, working as a wireless carrier for everyday items.

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) is launching VendorLink, a new marketplace platform for cannabis accessory products, it announced Friday. The proprietary platform allows brands and vendors to upload and sell cannabis accessory products directly to CannMart customers, according to the firm. CannMart is Toronto-based Namaste’s online cannabis store. Cannabis hardware company Canada Puffin, which specializes in hand-blown glass and natural pipes and accessories, will be the first brand uploaded to VendorLink.

Humanigen Inc (NASDAQ:HGEN) (OTCQB:HGEND), a clinical-stage biopharmaceutical company focused on preventing and treating an immune hyper-response called “cytokine storm” with its lead drug candidate lenzilumab, has priced its underwritten public offering of 8 million shares of common stock to raise about $68 million. The California-based company intends to use the net proceeds to support its manufacturing, production and commercial preparation activities relating to lenzilumab as a potential therapy for COVID-19 patients and for general corporate purposes. In a statement Friday, Humanigen said each share is priced at $8.50 and the offering is expected to close on or about September 22.

Golden Arrow Resources Corporation (CVE:GRG) (FRA:G6A) (OTCQB:GARWF) has announced that all resolutions proposed at its annual general & special meeting held on Thursday, September 17, 2020, received overwhelming support from shareholders, with incumbent directors Joseph Grosso, Nikolaos Cacos, David Terry, Louis Salley, John Gammon and Alf Hills all re-elected to the board of directors of the company. Joseph Grosso, president and CEO of Golden Arrow noted: "We had record voting at the 2020 Annual and Special Meeting with over 33 million shares voted of the issued and outstanding common shares, an increase of 10% over last year. I would like to thank our shareholders for their voting response and our gratitude to Golden Arrow shareholders in general."

OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for over 11,000 U.S. and global securities, has announced that Silver Tiger Metals Inc. (CVE:SLVR) (OTCQX: SLVTF), a silver and gold exploration company operating in Mexico, has qualified to trade on the OTCQX Best Market and has upgraded today from the OTCQB Venture Market. The OTCQX Market is designed for established, investor-focused US and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among US investors. Silver Tiger is managed by a team of mine finders with extensive experience in exploring and developing large hydrothermal gold projects in Mexico. The group is currently focusing on the El Tigre Property located in northern Sonora State and released a maiden resource estimate in September 2017.

Quick facts: The Valens Company

Price: 1.62 CAD

Market: TSX
Market Cap: $207.92 m

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The Valens Company remains very busy with new products and global expansion...

The Valens Company (TSE: VLNS-OTCQX: VLNCF) President Jeff Fallows joined Steve Darling from Proactive to discuss an extremely busy 3rd quarter for the company that saw them push out a record 56 SKU’s. Fallows talked about that and he also answers the question, "What is the biggest...

2 weeks, 6 days ago

8 min read