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NA Proactive news snapshot: Vuzix, PyroGenesis Canada, Japan Gold, Tetra Bio-Pharma, BioSig Technologies UPDATE ...

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

ImagineAR Inc. - NA Proactive news snapshot:
Your daily round-up from the world of Proactive

Vuzix Corporation (NASDAQ: VUZI) said Wednesday that neurosurgeons at the University Malaya Specialist Centre in Malaysia (UMMC) used the company’s M400 Smart Glasses as part of a successful COVID-19 study. Doctors turned to the special glasses as a way to limit the number of medical personnel attending to neurosurgical patients as a protective measure to conserve personal protective equipment. Vuzix said the conclusion from the study confirmed that virtual ward rounds using telemedicine via Vuzix M400 Smart Glasses on neurosurgical patients in critical care were a feasible, effective, and widely accepted alternative to physical ward rounds during the COVID-19 pandemic. Vuzix also announced Wednesday that it has begun volume production and shipment of its M4000 Smart Glasses to the US and Canada, EU and Japan. 

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) hailed its partner HPQ Silicon Resources Inc’s announcement that it had received a pre-order for spherical nano silicon powders from a major auto manufacturer. PyroGenesis and HPQ Silicon are collaborating on the PUREVAP Nano Silicon Reactor (NSiR), a new proprietary process that can use different purities of silicon as feedstock to make spherical silicon nanopowders and nanowire. The process uses low cost, highly reactive carbon sources and converts them into high purity silicon metal for use in things like solar panels and electronic semiconductors. The Montreal-based company recently took a material interest in HPQ subsidiary HPQ Nano Silicon Powders Inc, with a 10% royalty on future sales and the option to convert the royalty into a 50% ownership stake.

Japan Gold Corp (CVE:JG) (OTCQB:JGLDF) reported encouraging surface sampling results from its Barrick Gold Corp (NYSE:GOLD) exploration alliance work programs covering the Mizobe Project in the Southern Kyushu gold region of Japan. The Barrick exploration alliance was formed in February 2020 and covers 29 out of Japan Gold’s 31 projects in the “Land of the Rising Sun.” In a statement on Wednesday, the Canadian mineral exploration company said the Mizobe Project, which includes the Mizobe and Mizobe 1 Extension, is located along the western edge of the Kagoshima Graben, in Japan’s gold-fertile Hokusatsu region. Of 84 rock float samples, 54 gave gold assays greater than 0.5 grams per tonne, including 22 which yielded results greater than 4 grams per tonne gold.

Namaste Technologies Inc (CVE:N), an online platform for cannabis and accessories, has announced results from the company’s annual general meeting of shareholders, which was held virtually on Tuesday. Shareholders approved the election of Baran Dilaver, Laurens Feenstra, Meni Morim, Branden Spikes and Andrew Wilczynski to the board of directors; appointed Baker Tilly WM LLP as the company’s audiotd and ratified an amended stock options plan. Voters also ratified a new deferred share unit and a restricted share unit award plan.

Tetra Bio-Pharma Inc (TSE:TBP) (OTCQB:TBPMF) announced Wednesday that it has entered into a definitive agreement with a strategic US partner to acquire the Canadian exclusive rights for Dronabinol Soft Gel capsules, a cannabinoid-derived prescription drug aimed to treat AIDS-related anorexia and severe nausea and vomiting associated with chemotherapy.  In a statement, Tetra also said it will be submitting a New Drug Submission application in its fiscal fourth quarter of 2020 to obtain its first DIN (Drug Identification Number) for a THC-based prescription drug. The company said the Dronabinol acquisition means the establishment of an immediate and direct commercial presence in Canada by promoting an existing cannabinoid derived prescription drug — allowing Tetra to establish a revenue stream based on a synthetic cannabinoid drug for major markets in chemotherapy-induced nausea and vomiting (CINV). 

BioSig Technologies Inc (NASDAQ:BGSM) subsidiary ViralClear Pharmaceuticals Inc announced an agreement with biopharmaceutical company Sorrento Therapeutics to test its coronavirus drug candidate merimepodib in combination with Sorrento’s neutralizing antibody candidate STI-1400. The deal will see Sorrento initiate testing with a selection of its agents in combination with ViralClear’s antiviral compound for possible synergistic effect against SARS-CoV-2, the virus that causes COVID-19, in a preclinical hamster model. The study will look for synergy at the effective doses between the two drugs, which are separately each already in human clinical trials, and will try to specifically demonstrate that the combined benefits in strengthening and accelerating viral clearance exceed what each drug could deliver by itself, the company said.

Valeo Pharma Inc (CSE:VPH) (OTCQB:VPHIF), a pharmaceutical company, reported fiscal quarter results after the bell Tuesday and estimated that it could end 2020 as a profit-making company. Revenue for the three months ended July 31 was C$1.5 million, down year-over-year from C$2.6 million due to the coronavirus (COVID-19) pandemic and a product launch last year, but a pair of new products this year have things trending up, the company said. "Our third-quarter revenues were impacted to some extent by the restrictions brought upon by COVID-19 as well as the impact from adjustments relating to prior periods,” CEO Steve Saviuk said in a statement. “We are seeing revenues returning to an uptrend with the recent launch of Ametop in the last few weeks of the quarter and the launch of Yondelis at the beginning of the fourth quarter."

Benchmark Metals Inc (CVE:BNCH) (OTCQX:BNCHF) has closed the third tranche of its private placement, the company announced Wednesday, earning gross proceeds of C$4.4 million. The company issued more than 3.8 million hard dollar units, each containing one share and one-half a share purchase warrant at a price of C$1.30. With this tranche closed, Benchmark has completed the oversubscribed offering for total gross proceeds of more than C$50 million, which it plans to use to fast-track its Lawyers Gold-Silver Project towards a production decision in 2022. Edmonton-based Benchmark also graduated to the OTCQX Best Market this week in the US, where it will trade under the ticker symbol BNCHF. 

OTC Markets Group Inc (OTCQX:OTCM) announced Wednesday that Reconnaissance Energy Africa Ltd (CVE:RECO) (OTCQX:RECAF), a junior oil and gas company, has qualified to trade on the OTCQX Best Market after upgrading its listing from the Pink market. "Beginning to trade on the OTCQX is an important milestone for ReconAfrica as we continue to build investor awareness in the United States and internationally," said CEO Scot Evans in a statement. "We believe the OTCQX-Best Market will provide investors with better liquidity and greater ease of access thereby allowing the Company to continue to expand its shareholder base.”

Lithoquest Diamonds Inc (CVE:LDI) said experienced mining industry executive Ms Jo Price had been hired as an independent director, effective immediately. She will also serve as a member of the compensation committee and the audit committee. Price is an independent geological consultant to a number of junior mining and exploration companies, with more than 20 years in the field, including 10 years in project management. She has worked on multiple gold, poly-metallic, and graphite projects in the USA, Australia, and Canada. "Lithoquest welcomes Ms. Price to its Board of Directors," said Bruce Counts, president and CEO of Lithoquest Diamonds. "Jo's credentials and extensive industry experience ensures that shareholders are represented by qualified professionals with relevant and complementary skills."

Investment bank Stifel GMP has started covering Mongolia-focused miner Steppe Gold Ltd (TSE:STGO) (OTCMKTS:STPGF), saying its flagship mine in the country is set to be a free cash flow machine. Using the current spot gold price, analysts at Stifel GMP see the newly commercial ATO mine generating US$100 million of free cash flow over the next two years. "With high grade mineralization starting at surface, the mine benefits from both a low strip ratio and a high concentration of gold. We estimate LOM average by-product total cash costs of $485/oz, putting it in the bottom quintile of the cost curve," they added. Stifel GMP starts covering the stock with a 'Buy' rating and targets C$4.70 a share, which is a long way from the current price of C$2.63.

The TSX Venture Exchange has accepted the five million share private placement from Essex Minerals (CVE:ESX) as part of its C$2.75 million financing that closed last week. The company issued 5 million common shares at C$0.55 each. All of the securities are subject to a hold period, which will expire January 22, 2021.

Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) told investors that follow up drilling had started at its Carrickittle zinc prospect on its wholly-owned PG West project in the Republic of Ireland. The first phase of the work comprises six holes and 600 metres and will focus on Zone 1 of the prospect, testing the immediate extensions of the high-grade zone discovery announced in July. Then the firm reported 10.3m of 14.6% zinc and 5% lead, or 19.6% combined, and 43 grams per ton (g/t) silver in one hole. The overall program comprises 20 holes for 1,200m.

Killi Ltd (CVE:MYID) (OTCMKTS:MYIDF), a global leader in data and consumer privacy, announced Wednesday the addition of 132 new ways to redeem Killi payments. As the only pure-play, publicly traded company to pay its users in cash for their data, the company said it has added numerous new ways for consumers to redeem. Redemption options now include digital and virtual Visa gift cards (in all Killi regions), Amazon gift cards (US and Canada), e-gift cards for multiple online retailers (all Killi regions), and the option to donate to various charities (all Killi regions).

Bragg Gaming Group Inc (CVE:BRAG) (OTCMKTS:BRGGF) announced Wednesday it is adding former SB Tech CEO Richard Carter to its board of directors. As CEO of SB Tech, Carter helped to spearhead the US$3.3 billion merger of the interactive sports betting company with DraftKings, a leading digital sports and entertainment company. Carter, who will act as Bragg’s non-executive chair, will support Bragg’s interim CEO Adam Arviv on building the company’s global strategy, according to a statement.

HIRE Technologies Inc (CVE:HIRE) announced Wednesday it is teaming up with US HR technology company Atlas ID for the exclusive distribution rights to Atlas’ COVID-19 risk mitigation software in Canada. Toronto-based HIRE will also invest US$200,000 in Atlas by way of a 10% convertible note, the company said in a statement. The software allows individuals to self-report COVID-19 symptoms and receive real-time test results with the discretion to choose when and with whom to disclose the results.

WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) revealed on Wednesday Thursday that it has it has closed a definitive agreement for a $30 million credit facility with an affiliate of the LiUNA Pension Fund of Central and Eastern Canada (LPF). In a statement, 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. “With our facilities fully ramped up, licensed and engaging in the production of cannabis to a degree not seen before at WeedMD, we are officially in our next stage of growth and ready to execute our product strategy and expansion of our distribution networks,” said WeedMD CEO Angelo Tsebelis.

ImagineAR Inc (CSE:IP) (OTCQB:IPNFF), the augmented reality (AR) specialist, has struck a landmark partnership with Spanish team Valencia C.F, one of the most famous football clubs in the world, to provide its augmented reality platform to engage its huge fan base. As the pandemic continues to keep fans away from matches, the tech company will provide Valencia, which is around 100 years old, with its IOS and Android SDK that fully integrates into the team's mobile app. ImagineAR said the two-year partnership was a major milestone for the group and created huge visibility for the tech firm. Valencia C.F will not only be its first LaLiga partner. It is also its first professional sports team partner outside the USA.

Canada Silver Cobalt Works Inc (CVE:CCW) (OTCMKTS:CCWOF) has reported highly encouraging drilling results from its Castle property in the Gowganda silver camp in Ontario, which is showing the potential to expand the resource. At least four new mineralized veins have been identified in just the first 9,000 metres (m) of a 50,000m program, the firm noted, and due to this early success, the company is considering expanding the program. Notably, one hole hit an impressive 3,452 grams per ton (g/t) silver over 0.4m downhole, which was 75m above the original Robinson Zone discovery.

NetCents Technology Inc (CSE:NC) (OTCQB:NTTCF), a cryptocurrency payments company, announced Wednesday that it has completed a partnership with Sosure Pty Ltd of Australia -- which has developed a payment app that rewards users for participation. The app is a new reward ecosystem designed to give members the most flexibility and value when shopping. Partner merchants include restaurants, retail outlets, and online stores and members earn rewards that can be used across the entire network of participants in the network. NetCents said Sosure has chosen Melbourne, Australia as the focus of marketing efforts, and is now branching out into other markets across Australia. The platform is currently averaging 500,000 transactions per month, with average transactions exceeding $20. Sosure, whose platform is accepted by 450 merchants, also plans to add cryptocurrency as a payment method in the coming weeks, NetCents said.

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) released its fiscal 3Q results on Tuesday after the bell, that showed the company generated just over C$2.3 million in revenue, driven by the strength of its contract manufacturing services. CEO Clint Sharples called the quarter ended July 31, 2020 a “transitional” period, however, as the cannabis firm gears up to start sales of its Purefarma and Pura Vida brands, which launched this month in select Canadian provinces. In May, the Toronto-based company announced it was launching Purefarma, its in-house brand of formulated extraction products, which will be sold through its licensed facilities. Purefarma will be sold through recreational channels and will feature several products that consumers have previously had access to under the patient-to-patient regime, including CBD-focused products such as elixirs and vape pens.

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) (FRA:N29) has literally let the 'genie out of the bottle' with its latest augmented reality marketing campaign to be rolled out later this year. Its "Genie in the Bottle" program features a human hologram, in the form of an interactive dietician and will be used to promote the group's new proprietary line of organic human supplement products called ‘TruLyfe’. Evan Gappelberg, NexTech's CEO said he believed the group's latest marketing program for the now "golden age" of e-commerce would be game-changing technology that will "forever change how brands interact with customers".

BetterLife Pharma Inc (CSE:BETR) (OTCQB:BETRF) announced Wednesday that Glendale Securities Inc (the OTCQB sponsor) has received approval from the Financial Industry Regulatory Authority (FINRA) to quote and trade the company’s securities on the OTC Markets. BetterLife said it has satisfied the requirements of Rule 15c2-11 and will continue to use the trading symbol BETRF, enabling Glendale Securities to quote the company’s securities. BetterLife added that Form 211 clearance is crucial as it requires both the directors and principals of BetterLife and the company itself to pass stringent regulatory background checks and due diligence necessary to list in the US.

Todos Medical Ltd (OTCQB:TOMDF) revealed that it has struck an exclusive branding and distribution agreement with Australia-based Melbourne Biotech, a FDA-registered manufacturer, to supply high complexity CLIA labs in the US with fast, accurate 96 and 384 well Real Time Polymerase Chain Reaction (RT-PCR) machines. The Melbourne RT-PCR machines come with four, five or six channels to be able to identify multiple genes in the same well, said the company. Todos said it aims to focus the initial deployment of these RT-PCR machines towards its ongoing mobile CLIA lab project that it expects will reach the commercialization stage early in the fourth quarter of 2020. “Securing exclusive branding and distribution rights to a high quality RT-PCR machine such as Melbourne for the US market has been a top priority given that we have seen extensive delays in US delivery of other RT-PCR machines since the beginning of the COVID-19 pandemic,” Todos Medical CEO Gerald E Commissiong said in a statement.

Phunware Inc (NASDAQ: PHUN) announced Wednesday that it has been recognized with the Best Mobile-Driven Enterprise Cloud Platform award by Corporate Vision Magazine for 2020. As an AI Global Media property, Corporate Vision Magazine receives an average of 50,000 page views online and is distributed digitally to more than 155,000 business leaders, executives, and key decision-makers worldwide, Phunware noted. “We invested more than $100 million dollars and eleven years to build category-defining mobile infrastructure for cloud-based, mobile-first, enterprise application deployments,” said Luan Dang, CTO and co-founder of Phunware, in a statement.

Cabral Gold Inc (CVE:CBR) (OTCMKTS:CBGZF) said it had discovered another high grade vein structure at its Cuiú Cuiú gold project in northern Brazil. A surface channel sample at the Jerimum North target, which lies 4km north-east of the MG deposit and 3.7km north-east of the recently discovered high-grade veins at the Machichie SW target area, returned 5.3 metres (m) at 24 grams per ton (g/t) gold. "The identification of yet another new NE-trending, high-grade vein structure, this time at the Jerimum North target, highlights the increasing importance of NE trending veins as hosts to high-grade gold mineralization within the Cuiú Cuiú gold district," said Alan Carter, Cabral's CEO, in a statement. "This new vein has never been drill-tested, and like the recently announced NE trending veins at Machichie SW, will undergo further surface exploration aimed at establishing along strike continuity prior to drilling."

Next Green Wave Holdings Inc (CSE:NGW) (OTCQX:NXGWF) is boosting its board with the addition of former KPMG partner Norm Mayr. Mayer, a former audit partner at the accounting giant, amassed diverse experience in the cannabis, mining, forestry, technology, life sciences, retail and industrial markets sectors. He was the lead engagement partner or quality review partner on many of KPMG's largest clients in said industries, including several multinational reporting issuers. A seasoned accounting professional, Mayr was a founding member of CICA Accounting Standards Board in the early 1990s and served on multiple provincial and national accounting associations.

Empower Clinics Inc (OTCMKTS:EPWCF) (CSE:CBDT) named finance industry veteran Kyle Appleby its finance chief on Wednesday, as the diversified wellness company focuses on business development and acquisitions. In a statement, Empower, which is one of the largest operators of medical health and wellness centers in the US, said Appleby has over 20 years of accounting and financial consulting experience. He has been a CFO to public and private companies in a broad range of industries. "The addition of Kyle to our leadership team is an important step right now, as we focus our efforts on business development and acquisitions," Empower Clinics CEO Steven McAuley said in a statement. "We will leverage Kyle's financial acumen and network to ensure we maintain superior finance and accounting controls, along with providing experience with deal structuring and fundraising," he added.

American Manganese Inc (CVE:AMY) (OTCMKT:AMYZF), the battery recycling group, said it is taking part in this year's tenth National Drive Electric Week -  a US wide celebration to raise awareness of electric vehicles organised by Plug In America. This year will include online events for the first time, including a discussion on electric vehicle battery recycling. On October 2 this year, Zarko Meseldzija, chief technical officer (CTO) of American Manganese will present the RecycLiCo patented process for electric vehicle battery recycling and outline how American Manganese is promoting a circular economy. Plug In America is a non-profit, supporter-driven advocacy group and is the voice of plug-in vehicle drivers across the country.


 

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