NA Proactive news snapshot: CUI Global, Maxtech Ventures, Gevo, RYAH Medtech UPDATE …

CUI Global Inc (NASDAQ:CUI) reported strong results from its fiscal third quarter, which saw the energy company execute on its transformational strategy to divest non-core assets. In late September the Oregon-based company announced plans to sell its electromechanical business to a private entity. The sale of the electromechanical business coupled with new CEO Jim O’Neil is part of the company’s strategy to reshape the company into a diversified energy infrastructure services provider to the North American energy market through aggressive acquisitions.

Maxtech Ventures Inc (CSE:MVT) (OTCMKTS:MTEHF) told investors it has hired Red Lake gold mining district ‘trailblazer’ James Rogers as its senior vice president of exploration. Rogers, a geologist with 40 years’ experience, will be responsible for all exploration activities, starting immediately at its Panama Lake project, Maxtech said. Starting out in 1980, he spent almost 30 years in the Red Lake Gold mining camp in roles as chief geologist, exploration manager and as president of a junior explorer.

Gevo Inc (NASDAQ:GEVO) on Tuesday reported that it ended the third quarter with cash and cash equivalents of $20.9 million. The renewable fuels and chemicals manufacturer also said it has about 6-7 million gallons per year (MGPY) of offtake under contract out of its planned minimum sized 10MGPY hydrocarbon plant, up from about 5MGPY. “We continued to make progress on our plans,” said CEO Dr Patrick Gruber in a statement. “We have over 60MGPY of jet fuel and isooctane in contract negotiation, and well over 120MGPY in total under discussion. We only need to secure 5MGPY more to achieve our threshold offtake of 10MGPY which should allow us to be able to build a larger plant with acceptable economies of scale.”

Marrone Bio Innovations Inc (NASDAQ:MBII) posted third-quarter results after the bell Tuesday that saw revenue jump 28% year-over-year on the back of the company’s specialty crop and cultivated garden businesses. The bioprotection and plant health company reported revenue of $7 million for the three months ended September 30, up from $5.4 million a year earlier — beating Street estimates of $6.95 million. Marrone attributed the growth to a strong demand in the grapes, tomatoes, rice, hops, tree nuts and fruits markets in the US. On top of that, its cultivated garden business did well, thanks in part to sales to hemp producers.

RYAH Medtech Inc has released an analytics report that takes a closer look at how men use medical cannabis. The report, which featured survey feedback from 35,069 men over 22 months, found that nearly 78% of male patients use medical cannabis on a daily or near-daily basis. Compared with women, which the company released a report on two weeks ago, men are more likely to begin using medical cannabis earlier in life. The top conditions men use medical cannabis to treat — anxiety, stress, depression and pain — mirror those of women, with the addition for men of ADHD/ADD.

Bragg Gaming Group (CVE:BRAG) (OTCMKTS:BRGGF) clocked up substantial third quarter revenue of C$10 million, a 13% jump in sequential revenue growth over the second quarter. The company also posted a gross profit of C$4.3 million, underlying earnings (EBITDA) of C$0.2 million and a C$0.2 million loss from operations. In a statement accompanying the gaming company’s latest numbers, CEO Dominic Mansour said: “We’ve made significant progress this quarter, with our focus on B2B with ORYX driving 30% revenue growth compared to the third quarter in 2018. This resulted in a significant improvement in ORYX’s gross profit and in-turn drove ORYX EBITDA (earnings before interest, tax, depreciation and amortization) to grow by over 300% to C$1.2 million.” The gaming company boss said 14 operators are scheduled to complete integrations on ORYX Hub in the latter half of the year.

Marrone Bio Innovations Inc (NASDAQ:MBII) has announced positive results from 2019 field trials for its novel bioherbicide, known as MBI-015. The field tests using commercial rates for the company’s bioherbicide demonstrated control of the Palmer amaranth weed approaching that of a current post-emergent chemical herbicide, the firm said in a statement. Marrone Bio noted that across multiple trial locations using uniform protocols, control of Palmer amaranth was evaluated at three stages of growth, 7-to-10 days after MBI-015 was applied. Percentage-wise, control ranged from the mid-70s to the high-80s. The weed can lead to dramatic yield losses in crops such as corn and soybean. 

Point Loma Resources Ltd (CVE:PLX) is delineating a second well and expanding its production facilities around the Rex oil play in Alberta, the company told investors on Tuesday. The firm’s partner Salt Bush Energy Ltd is drilling a second farm-out well under the Wizard Lake farmout agreement in order to spud the existing HZ 13-4-48-27W4 well by mid-November. In addition, Point Loma is expanding its production facilities to handle up to 5,000 barrels per day of fluid and 5 million cubic feet per day of natural gas to allow for full production of the existing two wells, the second farmout well and any future development.

eWellness Healthcare Corporation (OTCMKTS:EWLL), the pioneer in physical therapy telehealth treatments, announced Tuesday that it is developing a new rheumatoid arthritis treatment platform called RA360. In a statement, the Culver City, California-based company, said the new platform is expected to be available in the first quarter of 2020. Rheumatoid arthritis and related autoimmune disorders are the leading cause of illness and disability in the US. The company said its RA 360 solution will support employees to reduce or maintain their current level of drug use.

PowerOre Inc (CVE:PORE) has wrapped up an ambitious 3D modeling program of the underground workings at the Perry mine in Quebec. The Toronto-based exploration firm created a block model that will allow the company to better evaluate the mineralization within the historic mine complex, which also includes the former producing Springer mine. The company said it now has block models for each of the Perry and Springer mines on the Opemiska copper mine complex.

OTC Markets Group Inc announced that Foresight Energy LP (OTCMKTS:FELPU), a leading producer of thermal coal, has qualified to trade on the OTCQX Best Market. Foresight Energy LP previously traded on the New York Stock Exchange. “We are pleased to provide Foresight Energy LP with an efficient path to access US investors on our OTCQX Best Market,” said Jason Paltrowitz, EVP of Corporate Services at OTC Markets Group. “OTCQX provides a transparent, cost-effective alternative to a national exchange listing. We look forward to supporting Foresight Energy and its shareholders.”

Humanigen Inc (OTCMKTS:HGEN) announced that two abstracts supporting the development of its hematological tumor-fighting program EphA3-CAR-T will be presented at the upcoming annual meeting of the Society for Neuro-Oncology in Phoenix. EphA3-CAR-T is built on the backbone of ifabotuzumab, the company’s proprietary anti-EphA3 antibody drug, and the first abstract covers a Phase 1 study in patients with Glioblastoma multiforme, a rare brain cancer. The second abstract details how a single chain variable region fragment of ifabotuzumab was used to develop an antigen receptor to be used in chimeric antigen receptor T cell (CAR-T) therapy. 

Valens GroWorks Corp (CVE:VGW) (OTCMKTS:VGWCF) announced Tuesday it has acquired beverage company Pommies Cider Co in a cash and stock deal, creating a platform for infused beverages and edibles. In a statement, Valens said it acquired all of the issued and outstanding shares of Southern Cliff Brands Inc and that all planned capital expenditures are fully funded with cash on hand as well as current and projected cash flow from operations. Pommies is a leading hard cider manufacturer in the Greater Toronto Area and operates a 32,000 square foot-facility currently used to manufacture the company’s existing line of Pommies-branded cider. 

NexTech AR Solutions Corp (CSE:NTAR) (OTCMKTS:NEXCF) unveiled a major upgrade to its BetterRealityAR augmented reality tool, which will help its customers enhance the visual quality of their 3D creations.  BetterRealityAR is a component of the company’s “ARitize” platform, which turns 2D image assets into 3D AR interactive objects that e-commerce customers can view with a standard web browser.

EuroLife Brands Inc (CSE:EURO) is betting on consumer demand for mushrooms with a new distribution agreement for a line of infused coffee mixes.  The Toronto-based company signed a new agreement with The Yield Growth Corp (CSE:BOSS) (OTCMKTS:BOSQF), a health and wellness company out of Vancouver.  The two companies plan to launch Yield Growth subsidiary Flourish Mushroom Labs’ mushroom coffee mixes infused with various wild mushroom brands like Lion’s Mane, Turkey Tail, Reishi and Chagas.

CytoDyn Inc (OTCMKTS:CYDY) said that the first patient of a new Phase 1b/2 clinical trial for its metastatic triple-negative breast cancer (mTNBC) treatment, leronlimab, reported encouraging initial results. In a statement, the Vancouver, Washington-based late-stage biotechnology company said circulating tumor cells in the patient’s blood decreased significantly after leronlimab therapy at both two-week and five-week time points. Furthermore, a reduction in CCR5 expression on presumed metastatic tumor cells was evident, reported the company. “We are excited to be involved with CytoDyn in evaluating the efficacy of leronlimab in metastatic triple-negative breast cancer,” said IncellDx CEO Bruce Patterson.

Weekend Unlimited Inc (CSE:POT) (OTCQB:WKULF) said Tuesday that the company’s majority-owned Northern Lights Organics farm in Fort St James, British Columbia has secured an industrial hemp licence, required to cultivate and sell industrial hemp, from Health Canada.  In a statement, CEO Chris Backus said the 600-acre Northern Lights Organics hemp farm is advancing ahead of schedule.

Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) received a US patent for its Zygel cannabidiol (CBD) cream used to treat Fragile X syndrome. The patent, which expires in 2038, covers the company’s method of transdermally administering 250 milligrams to 500 milligrams of CBD daily in the form of a gel or cream.  Zygel is currently being evaluated in CONNECT-FX, a double-blind placebo-controlled study of 204 pediatric Fragile X patients.

Tech group MCloud Technologies Corp (CVE:MCLD) (OTCMKTS:MCLDF) has bolstered its Smart Process business segment with the appointment of Kent Chan as strategic growth manager. He will be responsible for managing operations and driving business for the firm’s AssetCare applications for lliquefied natural gas (LNG) in Southeast Asia and Western Canada, the firm said.

Arcadia Biosciences Inc (NASDAQ:RKDA) and Bioceres Crop Solutions Corp (NYSEAMERICAN:BIOX) announced that the drought and herbicide tolerant soybeans produced by the companies’ joint venture have won approval in Paraguay. The venture, known as Verdeca, got the green light from the Paraguayan Minister of Agriculture, through the National Commission for Agricultural and Forestry Biosafety.

American Battery Metals Corporation (OTCMKTS:ABML) reported that its chief executive officer Doug Cole has completed a series of successful meetings with key lawmakers and personnel in the Department of Energy and Department of the Interior in Washington, DC. The company, a premier battery metal exploration and development company based in Nevada said Cole visited Washington to discuss the group’s efforts assisting the United States in breaking its reliance on foreign sources of critical minerals.

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) has inked a new deal to fill and pack a line of vape pen cartridges for Canadian recreational and medical markets, the company announced on Tuesday. The agreement with James E Wagner Cultivation Corporation (CVE:JWCA) (OTCMKTS:JWCAF) was made through Heritage’s subsidiary CannaCure Corporation. JWC will provide CannaCure with a minimum of 100 kilograms per month of premium-grade cannabis biomass, grown in JWC’s aeroponic facility in Kitchener, Ontario.

Armenia gold mine developer Lydian International (TSX:LYD) released its third-quarter results to end September, a period in which it continues to be blighted by illegal blockades in the country. The resource group is focused on building a giant mine in the targeting average production of around 204,000 ounces over 12 years but since last summer (2018), its story has been dominated by road blockades, which have prevented the construction of the project.

Parallax Health Sciences Inc (OTCMKTS:PRLX) announced Tuesday its wholly-owned subsidiary Parallax Behavioral Health Inc has entered into vertical market licenses and technology integration agreements within the financial technology, human resource, lifestyle and healthcare fields. ”Our data driven outcomes technology has applications within several identified fields of use and we are fulfilling our commitment to our intellectual property monetization strategy by generating high gross margin revenue through licensing and enabling leading organizations with our technology to maximize our shareholder value,” said CEO Paul Arena in a statement.

Asterion Cannabis Inc. said its wholly-owned Australian subsidiary has submitted its Operational Works permit application to the Toowoomba Regional Council to seek approval of certain development activities at its Toowoomba Medicinal Cannabis project, part of the final approval process for development of the project. The privately-owned Canadian medicinal cannabis company said it recently received the required Development Approval (DA) permit from the regional council for the project.

Maverix Metals Inc (TSE:MMX) (NYSEAMERICAN:MMX), the royalty and streaming group, revealed its portfolio continues to generate cash as it posted a record-beating third quarter.  The firm currently has 80 royalties and streams, of which 13 have underlying mines, which are producing.

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) is making cannabis products available in two more Canadian provinces. The Toronto-based company announced Tuesday that its subsidiary CannMart Inc signed new supply agreements with the provincial governments in Ontario and Saskatchewan to secure the firm’s products as part of the cannabis value chain in the provinces. The agreements follow a recently announced purchase order with the provincial government of British Columbia for pre-rolled cannabis products.

VR Resources Ltd (CVE:VRR) (OTCMKTS:VRRCF) reported on more successful exploration at its Big Ten gold project in the Walker Lane belt in Nevada, USA, which, it says, will help to inform its first drilling at the Amsel property. The hill at Amsel is a large topographical feature at the asset with a surface footprint defined by the 2 x 2 kilometer (km) gold-silver soil anomaly. At Amsel, a ground-based induced polarization  is now underway to identify where the sulfide-bearing quartz veins are concentrated within the cap and the anomaly.

Mojave Jane (CSE:HC) (OTCMKTS:HHPHF) has announced the uplisting of its US traded shares to the OTCQB Venture Market from today, having previously traded on the OTC Pink Open Market. The California-based cannabis company pointed out that The OTCQB Venture Market, operated by OTC Markets Group Inc. in New York City is a step up from the Pink Market, providing investors with improved market visibility. Gary Latham, Mojave Jane’s CEO commented: “It enables us to engage in dialogue with a new class of U.S. investors as we continue to execute on our strategy, which we believe will benefit our visibility and liquidity. In parallel, we continue to be listed on the CSE in Canada.”

Mandalay Resources Corp (TSE:MND), the metals miner, says it can now devote operational attention to its Björkdal and Costerfield mines as it struck a definitive agreement with Aftermath Silver Ltd (CVE:AAG) for the sale of its Challacollo silver-gold project in Chile.  Aftermath will acquire 100% of Minera Mandalay Challacollo Limitada (MMC) for a total of up to C$10 million, comprising of C$7 million in non-contingent consideration. There is also a 3% net smelter returns royalty on production for Mandalay at the Challacollo project, capped at C$3 million.

Aftermath Silver Ltd. (CVE:AAG) announced that it has received acceptance from the TSX Venture Exchange for the Challacollo Share Purchase Agreement with Mandalay Resources Corporation. Ralph Rushton, Aftermath’s president and CEO commented: “The acquisition of the high grade Challacollo silver project provides a platform for Aftermath to become a signficant silver-dominant exploration and development company. We are currently planning the 2020 exploration program and hope to start drilling in Q1, 2020.”

Gatling Exploration Inc (CVE:GTR) (OTCMKTS:GATGF) announced Tuesday its participation in the Metals Investor Forum to be held November 15-16 in Vancouver, British Columbia. The Canadian gold exploration company is focused on advancing the Larder Gold Project, located in the prolific Abitibi greenstone belt in Northern Ontario.

Story by ProactiveInvestors