NA Proactive news snapshot: Allot, Gatling Exploration, Valens GroWorks, Nextleaf Solutions UPDATE ...

Allot Ltd (NASDAQ:ALLT) (TASE:ALLT) announced that it has inked a “significant” pact to provide AllotSmart products to an existing customer located in the Europe, Middle East and Africa (EMEA) region for tens of millions of dollars. In a statement, the security and smart network intelligence solutions company, said the sale is being accomplished through a system integrator. The security and smart network intelligence solutions company expects to receive a portion of the amount as an advance payment, with the revenue expected to be recognized over several years.

Gatling Exploration Inc (CVE:GTR), the Ontario-focused gold explorer, told investors it was increasing its current drill program to 35,000 metres (m) from 20,000m at its Larder gold project on the back of its recent success. The 3,370-hectare asset lies in the prolific Abitibi greenstone belt and hosts three high-grade gold deposits along the Cadillac-Larder Lake Break, which the firm believes are connected. These are the Fernland, Cheminis and Bear deposits.

Valens GroWorks Corp (CVE:VGW) (OTCMKTS:VGWCF) has become the first third-party cannabis processor to reach a supply deal with Canadian pharmaceutical giant Shoppers Drug Mart. The company will begin providing gel caps and tinctures to Medical Cannabis by Shoppers, one of the retailer’s e-commerce divisions, according to a statement released Monday. In time, the deal is expected to expand to include vaporizer cartridges, topicals and other products. 

Nextleaf Solutions Ltd (CSE:OILS) (OTCMKTS:OILFF) and BevCanna Enterprises Inc (CSE:BEV) are teaming up to bring cannabis-infused beverages to Canadian shelves, the companies announced. In a release, Nextleaf said it had granted BevCanna exclusive license to its intellectual property related to water-soluble cannabinoids to develop, manufacture and sell BevCanna’s infused cannabis beverage brands. The agreement includes BevCanna’s in-house brands and white label products developed for third parties, the companies said in a statement.

Neo Lithium Corp (CVE:NLC) (OTCMKTS:NTTHF), the Argentinean-focused lithium explorer, achieved a high purity of 99.1% lithium carbonate in the first batch of production from its pilot plant in Argentina. The firm is advancing the 3Q project in Catamarca Province and the plant used concentrated brine originally sourced from the high-grade northern section of the deposit. “We have now proven our concept, and now we have our focus on the production of battery grade lithium carbonate production during the Q4 2019,” said Waldo Perez, the president and CEO of Neo Lithium.

Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLLF) said that its subsidiary Code Cannabis Investments is infusing up to $4 million into World High Life Plc (LON:LIFE), an investment company focused on CBD wellness and medicinal cannabis in the UK and Europe. In a statement, the company said Code Cannabis will become one of World High Life’s largest shareholders, as it seeks investments in the space with liquidity and strong revenue growth. “We see the UK market for CBD and medicinal cannabis being where Canada was 5-to-7 years ago,” Zach Stadnyk, president at Code Cannabis Investments, said in a statement.

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) subsidiary CannMart has received an order for pre-rolled cannabis from the British Columbia Liquor Distribution Branch (BCLDB). The deal means CannMart products will be available at government-run BC Cannabis Stores and licensed private retailers, the company said in a statement Monday.

Maverix Metals Inc (TSE:MMX) (NYSEAMERICAN:MMX) is upsizing its credit facility to up to US$120 million to fund further acquisitions, the company announced.
The gold royalty and streaming company is growing its portfolio of assets, which include 80 royalties throughout 16 countries. CEO Matt Fargey told shareholders that the Vancouver-based company has no plans to slow down when it comes to further acquisitions.

Capstone Turbine Corporation (NASDAQ:CPST) announced it has secured an order for two C200S microturbines with 247Solar Inc, which has developed a solar-power system that operates every hour of the year. The project will utilize the microturbines in combination with 247Solar’s technology to produce one of the world’s most versatile, reliable, zero-carbon power generation systems, Capstone said in a statement. “There is continued emphasis to deploy renewable energy solutions around the world, and this collaboration with 247Solar provides Capstone with a path to participate in the solar energy market, which is expected to reach $57.3 billion by 2022, according to Zion Market Research,” said Jim Crouse, executive vice president of sales and marketing for Capstone.

Marrone Bio Innovations Inc (NASDAQ:MBII) announced its acquisition of Finland-based Pro Farm Technologies OY has closed. In a statement, the California-based company said that with the Pro Farm acquisition it is adding to its portfolio proprietary nutrient and biostimulant technology as well as products for seed and foliar treatments. The deal has an agreed enterprise value of $31.8 million, Marrone Bio said. That includes a combination of $6.2 million cash and 12.7 million shares of Marrone Bio stock paid to Pro Farm’s equity holders, debt holders and advisors as well as the opportunity for potential payment of a total of up to $7.5 million of additional shares deliverable from 2021 through 2024 based agreed commercial milestones being achieved.

Orsu Metals Corporation (CVE:OSU) continues to better understand the geology at its flagship Sergeevskoe project in Russia, it revealed, as it posted additional trenching and drilling results. The company is currently pursuing a 3,500 metre (m) drilling and 3,000 m trenching program at the asset. The work has confirmed that Zone 23 at the project is heading southwest, not west-east as previously thought, with one trench yielding 1.94 grams per ton (g/t) of gold over 4 m and 1.92 g/t  over 13 m (metres) among other assays.

Exploration drilling at RNC Minerals’ (TSE:RNX) Beta Hunt gold mine in Australia augurs well for growing the resource there, the firm said.  In all, six holes have been completed for 2,190 metres (m) and the drilling targeted three shear zones – Fletcher (one hole), Western Flanks north (four holes) and East Alpha (one hole). Significantly, mineralization at Western Flanks was extended a further 200 m north of previous drilling, with broad zones of mineralization discovered, which were not included in the recently announced resource.

Alchemist Mining Inc (CSE:AMS) has named Johnson Lee as vice president of business development for Asia Pacific. Based in Beijing, Lee is a seasoned management leader with over 30 years of business experience, the company said in a statement. Alchemist CEO Paul Mann said Lee’s appointment is part of the longer-term strategy to assist in the export of high-quality CBD products to some of the largest markets in the world. Hemp-derived CBD sales in China accounted for US$53 million in 2017 and is forecasted to more than quadruple to $228 million by 2020, Mann noted.

Gevo Inc (NASDAQ:GEVO) revealed that it has secured the supply of five megawatt of fully renewable electricity for its agri-energy production plant in Luverne, in Minnesota from an affiliate of Juhl Energy. In a statement, the Englewood, Colorado-based company said electricity generated from wind turbines would be wired directly to Gevo’s agri-energy, enabling the company to claim a lower carbon intensity score under the Low Carbon Fuel Standard program, enacted to reduce carbon intensity in transportation fuels. As part of the project financing, Gevo picked up $1.5 million in stock in Juhl Clean Energy Assets (JCEA), out of a total funding round of $9 million. Gevo expects no cost increase in its electricity. 

Lydian International Limited (TSE:LYD) has updated the 2017 feasibility study for its giant Amulsar project in Armenia, which showed an increase in mine life, reserves and recoverable gold. Construction at the project has been suspended since June last year due to a continuous illegal blockade, and over the last 15 months Lydian has looked at a number of restart options, aided by JDS Mining & Energy, and recognized that a revamp of the 2017 technical report was needed. The new report is based on projected changes in pre-production capital, updated pit optimization work, construction and ramp up schedule changes and other parameters.

Silvercorp Metals Inc (TSE:SVM) (NYSEAMERICAN:SVM) said on Monday that it has appointed David Kong to its corporate governance and nominating committee, replacing Dr Rui Feng. The Vancouver-based miner also said it had revised its share-based compensation plan, introducing new limits to the issuance of restricted share units and the number of shares issuable to non-executive directors within a one-year period. The full text of the company’s revised Omnibus Plan is available at www.silvercorp.ca.

Blackrock Gold Corp (CVE:BRC) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement, announced on August 13, which saw 6,380,125 shares issued at a price of 16 cents each, plus 3,190,062 share purchase warrants at an exercise price of 25 cents each for a three-year period, to 32 placees.

Presentations from the Cannabis Industry Virtual lnvestor Conference on September 12 are now available for on-demand viewing at VirtualInvestorConferences.com. Companies that participated in the conference include Body and Mind Inc (CSE:BAMM), Valens GroWorks Corp (CVE:VGW) (OTCMKTS:VGWCF), Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) and Pivot Pharmaceuticals Inc (CSE:PVOT) (OTCMKTS:PVOTF), among others. To log in go to https://tinyurl.com/0912CannabisVICAgenda 

Story by ProactiveInvestors