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NA Proactive news snapshot: Phunware, Steppe Gold, NexTech AR, Western Magnesium UPDATE …

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

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Phunware Inc (NASDAQ:PHUN) said that it has bumped up its third quarter net revenue guidance to reflect 30% higher quarter-over-quarter growth on the back of companies racing to implement digital transformation initiatives. The Austin, Texas-based company, which has a fully-integrated enterprise cloud platform for mobile that provides products, solutions and services for brands worldwide, said that net revenue is expected to expand sequentially by more than 30% in the third quarter, compared to the second quarter to range between $2.9 million to $3.1 million. During the company’s second-quarter earnings announcement, Phunware said net revenue would represent “a quarterly, annual and historic bottom” for revenue recognition. However, it added that its post-pandemic “goal” was to “get back to 30% or more year-over-year net revenue growth.”

NexTech AR Solutions Corp (CSE:NTAR) (OTCQB:NEXCF) announced Thursday that the Black Student Fund (BSF) and Latino Student Fund (LSF) in Washington, DC have chosen NexTech’s InfernoAR platform for their 48th Annual School Fair on October 11.

The BSF and LSF fair is a forum for families in the DC metro area seeking information about independent school education. The event draws students, teachers and administrators from more than 70 local and national independent schools and educational programs in an effort to provide students of color with insight and guidance on independent education options, the company said. This year’s fair is the first to be held virtually and will feature workshops, chat rooms, recorded content, a digital resources library, and participant incentives to guide students through the application process and financing solutions for independent education options.

Stonegate Capital Partners has raised its valuation on Steppe Gold Ltd (TSE:STGO) to an average of C$3.55 a share, it said in an analyst note Thursday. The gold mining company recently started commercial production from the Altan Tsaagan Ovoo (ATO) project in Mongolia and has already produced 15,300 gold ounces and sold 12,458 ounces in addition to 3,728 ounces of silver. The research firm said it based its analysis off mine models for phase I and phase II at the ATO mine, combining the separate valuations for phase I and phase II to arrive at a range of C$3.10 to $4.05.

Western Magnesium Corporation (CVE:WMG) (OTCMKTS:MLYF) has retained Don Weinert for market making services in accordance with TSX Venture Exchange policies. Weinert has worked in the public markets for an extensive period of time, in Toronto and Vancouver, with brokerage firms in many different capacities. He brings a wealth of knowledge with him and has been a director and officer of several public companies.In consideration of the services provided by Weinert, the company said it will pay a monthly cash fee of $3,000 commencing September 21. Weinert has been retained for an initial period of three months and his contract is renewable on a month to month basis thereafter. The capital used for market making will be provided by Weinert.



Versus Systems Inc (CSE:VS) (OTCQB:VRSSF) announced Thursday the US Patent and Trademark Office has granted 23 new claims for the company’s in-game rewards platform. The patented claims protect, among other things, systems and methods for including a participant's current geography in the prizing calculus. Along with other characteristics, a participant's location at a specific time (in a stadium, at a concert, on a bike ride, within proximity to a specific vendor) may impact which prizes are available to that participant, the company added. Prize providers on the Versus platform may use this patented functionality to create campaigns specific to certain locations, and certain events, while also allowing different prizes to be offered and won by participants who are playing or watching Versus-enabled content in different locations. As with other recent granted patents, Versus said these claims include explicit coverage for mobile, console, and PC games like those available on HP OMEN. They also account for apps, AR/VR applications, and other forms of interactive media.

KWESST Micro Systems Inc (CVE:KWE) confirmed Thursday the formalization of US patent-pending status of an invention which improves the accuracy of military weapons systems, utilizing a novel micro-optical and computer vision technology branded Polaris. Polaris works with digital aiming systems for military weapons including the KWESST’s flagship Tactical And Situational Control System (TASCS) and its Integrated Fires Module (IFM) to achieve the kind of accuracy normally only obtainable with expensive smart weapons systems. TASCS IFM and its Polaris enhancement are comprised of an app and simple snap-on device that turns traditional dumb weapons into smart weapons, without any modification to the weapons or ammunition, the company said.

Tracesafe Inc (CSE:TSF) has received a large new order for 30,000 wristbands and its new LTE Gateways from a southeast Asian technology and defence conglomerate. The location management firm said the initial purchase order includes options over the next 12 months for sale into a major national government in the region. Tracesafe's patented contact tracing wristband is currently deployed around the world by governments and the private sector in essential quarantine applications.

Fireweed Zinc Ltd (CVE:FWZ) revealed that 'significant' near-surface zinc-lead mineralization has been found west of the Boundary zone at its giant Macmillan Pass project in Yukon. This new target was found via drilling and lies 360 metres (m) west of previous drilling at the Boundary zone.

Co-Diagnostics Inc (NASDAQ:CODX) (FRA:C97), a molecular diagnostics company, announced on Thursday that its Logix Smart ABC Test for Influenza A, Influenza B, and coronavirus (COVID-19) is anticipated to be ready for launch to US CLIA lab customers in the first week of October. CLIA is regulated by the Centers for Medicare & Medicaid Services, with a primary goal to ensure quality laboratory testing.

Mawson Gold Ltd (TSE:MAW) (OTCPINK:MWSNF) has told investors it is set for drilling at its large Rajapalot gold, cobalt project in Finland with an initial 2,000 metre (m) program planned over the next two months at the Hirvimaa and East Joki prospects. Earlier this month, the resource group announced a doubling of the maiden resource that it announced in 2018 for Rajapalot to 9 million tonnes at 2.1 grams per ton (g/t) gold and 570 parts per million (ppm) cobalt. Mawson said today that a 20 kilometre (km) drill program with five rigs is planned in Finland from mid to late December this year with the aim to expand this resource.

WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) revealed that it has entered into a binding term sheet for a $30 million credit facility with an affiliate of the LiUNA Pension Fund of Central and Eastern Canada (LPF). The Toronto-based licensed producer and distributor of cannabis, said the $30 million credit facility will mature in August 2022. The funds will boost the company’s working capital and provide WeedMD with “significant financial” muscle to drive commercial initiatives during its next stage of growth. The credit facility is expected to close and fund before the end of the current fiscal quarter which ends September 30, said the company. “Over the past few months, we have successfully streamlined our operations, enhanced our cultivation platform with production upgrades, executed our product strategy and expanded our distribution networks – all with the ongoing support from our partner and strategic investor LiUNA Pension Fund,” said WeedMD CEO Angelo Tsebelis.

ImagineAR Inc (CSE:IP) (OTCQB:IPNFF), an augmented reality (AR) company that enables sports teams and other businesses to create their own AR mobile campaigns, has signed a five-year agreement with the NFL Alumni Academy, the company announced Thursday. The deal will see ImagineAR provide its platform to help launch new mobile interactive products for the academy. This agreement provides for equal program revenue sharing over the five-year term, the company said. ImagineAR’s technology will be featured in a docuseries about the academy that begins production on September 28.

Exro Technologies Inc (CVE:EXRO) (OTCQB:EXROF) announced Thursday a new collaboration with leading German electric drive manufacturer Heinzmann GMBH & Co KG to integrate its coil drive technology into micro-mobility applications designed by Heinzmann. Under the agreement, Calgary-based Exro will be responsible for testing, power electronics design and supply, with Heinzmann providing the motor technology and integration support.

Versus Systems Inc (CSE:VS) (OTCQB:VRSSF) announced Thursday the US Patent and Trademark Office has granted 23 new claims for the company’s in-game rewards platform. In a statement, the company said the patented claims protect, among other things, systems and methods for including a participant's current geography in the prizing calculus. Along with other characteristics, a participant's location at a specific time (in a stadium, at a concert, on a bike ride, within proximity to a specific vendor) may impact which prizes are available to that participant, the company added.

First Cobalt Corp (CVE:FCC) (OTCQX:FTSSF) said it now estimates that the operating cost for its permitted cobalt refinery in Ontario, Canada, will be $2.36 per pound of cobalt, a 13% reduction that it says improves refinery margins, enhances project economics and further solidifies the refinery’s global competitiveness.

Mind Medicine (MindMed) Inc (NEO:MMED) (OTCMKTS:MMEDF) announced Thursday that the company has been conducting research and development work on psilocybin in collaboration with the University Hospital Basel's Liechti Lab in a study to better understand and compare the altered states of consciousness induced by psilocybin and LSD. In a statement, MindMed said it is interested in understanding how psilocybin or LSD affects humans differently so that it can design better later stage trials or potentially even combine substances in future next-generation psychedelic-assisted therapies for patients. As part of MindMed's exclusive license agreement with the University Hospital Basel in Switzerland, the company said it will retain an exclusive license to all intellectual property (IP) and any patents generated from data or findings in the study and related work on psilocybin, such as pharmacokinetic data and information on the metabolism. The study is anticipated to finish in the second quarter of 2021.

Cabral Gold Inc (CVE:CBR) (OTCMKTS:CBGZF) said it has identified at least six new north-east (NE) trending high-grade veins in the Machichie south-west area located immediately north of the MG deposit at the Cuiú Cuiú gold district in northern Brazil. The company said the targets have been identified as a result of recent mapping between the MG deposit and the Machichie target, which was drilled during 2019, and returned 3.4 meters at 36.9 gram per tonne (g/t) of gold.

Media Central Corporation Inc (CSE:FLYY) (FRA:3AT) said it has entered into an affiliate partnership with Spreads, Canada’s premier online sports betting and casino gambling site. The partnership will be featured on the digital platforms of Media Central’s flagship publications of NOW Magazine and the Georgia Straight as well as the firm’s specialized esports and e-gaming site ECentralSports.com.

Vox Royalty Corp. (TSXV: VOX) announced that during the month of September, its management presented at the Eight Capital 2020 Virtual Precious Metals Symposium and the 2020 Beaver Creek Precious Metals Summit and in the upcoming months, Vox management will be participating in the following virtual and in-person conferences: European Investor Webinar and Non-Deal Roadshow – September 28th to October 2nd; 121 Mining Investment Online Conference, APAC – October 7th to 9th; Diggers and Dealers Australia Mining Forum (in-person) – October 12th to 14th; 121 Mining Investment Online Conference, Americas – October 28th to 30th; and 121 Mining Investment Online Conference, EMEA – November 18th to 20th. Kyle Floyd, Vox Royalty chief executive officer commented: "We are excited about the opportunity to introduce investors around the world to Vox. As the fastest growing royalty company in the industry, we will continue to look for opportunities to expand our investor reach and liquidity. The Company is in the early stages of its investor awareness efforts. We expect to continue to see positive development both in our underlying royalty growth and capital markets awareness and liquidity."

Hillcrest Petroleum Ltd (CVE:HRH) said the TSX Venture Exchange has accepted for filing documentation relating to the United States licensing agreement dated August. 10, 2020, between the company and Oropass Ltd., whereby the company will acquire exclusive rights to license, market and deploy U.S. patented electricity generation and electric motor technologies. Under the terms of the agreement, the company will contribute a minimum of $300,000 and up to $500,000 for the development of the technology, anticipated to be paid to an incorporated joint venture between the company and the licensor, ALSET Innovations Inc.

Quick facts: Fireweed Zinc Ltd

Price: 1.07 CAD

Market: TSX-V
Market Cap: $57.57 m

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Fireweed Zinc wraps up 2020 season the company describes as "short but intense"

Fireweed Zinc (CVE: FWZ) CEO Brandon Macdonald joined Steve Darling from Proactive Vancouver to bring news the company has completed their 2020 drilling season at their Macmillan Pass Project in the Yukon. Macdonald telling Proactive what the drilling program consisted of and where they were...

5 days, 14 hours ago

11 min read