NA Proactive news snapshot: Medexus Pharmaceuticals, Newrange Gold, Bonterra Resources, Pacton Gold UPDATE ...

Medexus Pharmaceuticals Inc (CVE:MDP) (OTCMKTS:PDDPF) is on the receiving end of good news as Health Canada has awarded the specialty pharmaceutical company priority review status for its drug Gliolan, which aids the extraction of malignant brain tumors during surgery. Medexus has the exclusive rights to market and distribute the drug in Canada, which helps neurosurgeons have a better chance at removing malignant brain tumors (gliomas) completely as they become fluorescent and glow during surgery, thanks to its influence. Medexus expects to file a new drug submission for Gliolan this year to market and sell the drug in Canada.

Newrange Gold Corp (CVE:NRG) (OTCMKTS:NRGOF) has identified a new zone of high-grade gold mineralization at its Good Hope Mine project in Nevada.The mineralization, which was found as part of theVancouver-based company’s underground channel sampling program, came in at an average grade of 12.9 grams per ton (g/t) gold and 27.1 g/t silver. At an average width of 0.4 metres, the area is contained within a halo-type mineralization ranging anywhere from 5 to 9.4 metres wide at an average grade of 3.8 g/t gold and 5.6 g/t silver. The open-ended zone is more than 39 metres long. Defined by 115 channel samples, this mineralization occurs in the interconnecting 5710 and 5718 levels of the Good Hope Mine, the highest elevation workings sampled to date on the Pamlico project, Newrange said in a statement Tuesday.

Bonterra Resources (CVE:BTR) (OTCMKTS:BONXF) is looking to raise more than $5 million by orchestrating a private placement in a bid to pay down its exploration expenses. After striking an agreement with Sprott Capital Partners LP, the Canadian gold exploration company will offer up to 1.3 million of its shares – the “FT shares” – on a flow-through basis at a price of $2.25 per share to reap gross proceeds of as much as $3,001,500. It will also sell up to 834,000 shares – “the Quebec FT shares” – to win additional gross proceeds of up to $2,001,600. Gross proceeds from the private placement will be used to fund expenses related to exploration and will qualify as “flow-through mining expenditures”, according to Canadian income tax rules.

Shares in Pacton Gold Inc (CVE:PAC) (OTCMKTS:PACXF) gained ground Tuesday as the company updated on its Red Lake gold project in Ontario and announced the addition of a new target area to its 10,000-metre drill program.  The program now includes four exploration hotspots — Boyden, Carricona, LP Fault Extension and Shim — which are all within the Madsen-Dixie fault corridor. The company selected the Boyden prospect as its first drill target area based on the results of initial exploration activity and historical data. Channel sampling at the prospect returned values including 101.3 grams per ton of gold (g/t Au) and 33.9 g/t gold.

New Pacific Metals Corp (CVE:NUAG), which owns the Silver Sand project in Bolivia, said Dr Mark Cruise had been hired as its chief operating officer (COO). Dr. Cruise is the founder and former CEO of Trevali Mining Corporation (TSX:TV), which grew from an initial discovery to a top-ten global zinc producer with operations in Peru, Canada, Burkina Faso and Namibia and a market cap of over C$1.4 billion, the firm highlighted.

NexTech AR Solutions Corp (CSE:NTAR) (OTCMKTS:NEXCF) has partnered with “conversational commerce” company LivePerson Inc (NASDAQ:LPSN) to combine the experiences of augmented reality and artificial intelligence-driven consumer messaging. LivePerson’s platform lets businesses communicate with their customers using automated messages through channels like SMS, Facebook Messenger, WhatsApp, RCS, and Apple Business Chat. For example, a customer looking for a pair of shoes could chat with a company representative, and the business could recommend a pair. Then, the customer could view the shoes in full 3D and see them in their own space, all within the same app. 

LiteLink Technologies Inc (CSE:LLT) (OTCMKTS:LLNKF) is bringing its logistics technology to the east coast of Canada via a new partnership with a Quebec-based company. The partnership includes a commercial agreement that sees LiteLink opening an east coast base at agriculture company Pommes Ma-Gic Inc’s Rougemont, Quebec office. Vancouver-based LiteLink will provide the produce company with a trial of its 1SHIFT logistics platform, a technology that brings transparency and tracking brokers, shippers and carriers to track shipments and settle payments in real-time.

CytoDyn Inc (OTCMKTS:CYDY announced that leronlimab inhibited a human colon carcinoma cell line, SW480 cells, metastases to liver and lung in a well-accepted mouse model. In a statement, the Vancouver, Washington-based late-stage biotechnology company said the human colon carcinoma cells were implanted in the colon walls of immunodeficient mice and treated with a control antibody or leronlimab. After four weeks, the mice were sacrificed and the lungs and livers removed for analysis of invasion of the colon cancer cells. Leronlimab produced statistically significant inhibition of metastases to lung and liver in this mouse model, said the company.

Japan Gold Corp (CVE:JG) updated on ongoing exploration on the islands of Hokkaido and Kyushu, saying it expects more drilling on the former, in the first half of next year. The firm holds a portfolio of 24 gold projects spanning the three largest islands of Japan – Hokkaido, Honshu and Kyushu.  At the Ikutahara project on Hokkaido, a phase 1, six hole drill program kicked off in July and so far the firm has competed three holes at the Kitano-o prospect, which has delineated a series of major structures including the graben margin on the eastern edge, while several major east-west and northeast oriented gravity gradients are indicated. Meanwhile, at the Ohra-Takamine project in the Southern Kyushu, in early 2020, the group now plans to complete a detailed soil sample grid along with prospect scale gravity and CSAMT over the 3.5 km corridor which hosts the historic Ohra, Takamine and Urushi gold mines in a bid to refine drill targets and then recommence.

BevCanna Enterprises Inc (CVE:BEV) (OTCMKTS:BVNNF) has settled debt in the amount of $500,000 owed by the company to one creditor in exchange for the issuance of 892,857 common shares at a deemed price of 56 cents per share. The shares issued in the debt settlement are subject to resale restrictions imposed by applicable law or regulation, including a statutory hold period expiring four months and one day from the date of closing of the debt settlement. Bevcanna develops and makes cannabinoid-infused beverages and consumer products for in-house brands and white-label clients. 

Gatling Exploration Inc (CVE:GTR) (OTCMKTS:GATGF) is ramping up exploration efforts at its flagship Larder gold project in Ontario, with the addition of a third rig to its 35,000-metre drill program. Gatling said the rig will focus on two important goals – locating potential extensions of high-grade mineralization near surface at the Fernland deposit and also testing the continuity of mineralization between Fernland and Cheminis to establish a 4.5 km strike length across all three deposits (Fernland, Cheminis and Bear). The 3,370-hectare asset lies in the prolific Abitibi greenstone belt and hosts three deposits, which Gatling believes are all connected.

Pacific Empire Minerals Corp (CVE:PEMC), the prospect generator, announced a milestone Tuesday – the start of drilling at its 14,040-hectare Pinnacle porphyry project in central British Columbia. The firm plans to test via reverse circulation (RC) drilling three target areas, two of which, the Elbow and Sooner zones, saw partner-funded diamond drilling (Oz Minerals) in 2015 and 2016, with the majority of exploration funded by Oz. Drilling is already underway at Elbow.  ”We are excited to begin drilling at Pinnacle and look forward to exciting results over the coming months,” noted Brad Peters, Pacific Empire’s president.

OTC Markets Group Inc (OTCMKTS:OTCM) announced that Morris State Bancshares Inc (OTCMKTS:MBLU), the parent company of a Georgia-based community bank, has qualified to trade on the OTCQX Best Market. Morris Bank was founded in 1954 and today has nine branches and total assets of $9 billion. The company was previously privately held. “Becoming publicly traded on the OTCQX Market enables banks to provide an efficient market for their shareholders, while lowering the cost and complexity of entering the public markets,” EVP of Corporate Services Jason Paltrowitz said in a statement. “We look forward to supporting Morris State Bancshares as they work to build visibility.”

Orsu Metals Corporation (CVE:OSU) said Tuesday it had doubled the mineralized footprint of its highly prospective Sergeevskoe project in Russia. The junior explorer identified new mineralized clusters at three areas of the gold project, increasing the footprint of the mineralized system to a two kilometre by one kilometre area. The news comes as the Vancouver-based company wraps up its 2019 exploration program at the project, which saw Orsu drilling over 3,500 metres over 14 holes and trenching nearly 2,800 metres over 14 trenches.

Genprex Inc (NASDAQ:GNPX), a clinical-stage gene therapy company, announced Tuesday positive preclinical data for the treatment of some of the most resistant metastatic lung cancers. In a statement, the Austin-based company said that its collaborators from The University of Texas MD Anderson Cancer Center presented the data at the recent American Association of Cancer Research Tumor Immunology and Immunotherapy Meeting 2019. The data represents the combination of TUSC2 immunogene therapy with an anti-PD1 antibody, pembrolizumab, and for the combination of TUSC2 immunogene therapy, pembrolizumab, and chemotherapy for the treatment of some of the most resistant metastatic lung cancers, including the KRAS and LKB1 mutations. The TUSC2 gene is a tumor suppressor gene and is the active agent in Genprex’s Oncoprex immunogene therapy.

Great Bear Resources Ltd (CVE:GBR) (OCTMKTS:GTBDF) has bolstered its management team with the appointment of an experienced executive in finance and mining. Calum Morrison has been named vice president of corporate development, the Red Lake, Ontario exploration group said. He has over 15 years’ experience in the mining industry, having worked both in corporate development and investment banking roles.

The Green Organic Dutchman Holdings Ltd (TSE:TGOD) (OTCMKTS:TGODF) announced new cannabis orders from Alberta, Manitoba and Nova Scotia that ship out this month, which gives the organic cannabis company access to more than 340 new retail stores, on top of its current 24 stores in Ontario. The company also announced the launch of two new strains in Ontario and the creation of the world’s first organic cannabis certification program for what it calls “budtenders.” The educational program is being delivered at every retail location distributing TGOD products, and more than 150 budtenders have been certified so far in Ontario alone.

ElectraMeccanica Vehicles Corporation (NASDAQ:SOLO) announced Tuesday that it is opening its first retail kiosk in Los Angeles to showcase its all-electric, single-seat SOLO. Potential customers will have the opportunity to view, drive and place pre-orders for the much-anticipated SOLO to be released in 2020, the company said in a statement. The kiosk is located in the highly trafficked Westfield Century City Shopping Mall, which is conveniently located near Beverly Hills, Bel Air, Santa Monica and Century City communities. ElectraMeccanica said its sales staff will introduce customers to the benefits and features of the SOLO, as well as offer test drives to potential customers. Eager early adopters will have the opportunity to place pre-orders on-site, adding to an already long waiting list.

The Flowr Corporation (CVE:FLWR) (OTCMKTS:FLWPF) said that it has closed its previously announced $25 million credit facility from a syndicate of lenders led by ATB Financial, including Farm Credit Canada.  In a statement, the Toronto-based cannabis company said the credit facility consists of a $24.5 million recapitalization term facility and a $500,000 revolving operating credit facility. “We are extremely pleased to strengthen our financial position through non-dilutive financing at attractive pricing,” said Flowr Corp CEO Vinay Tolia in a statement.

EnWave Corporation (CVE:ENW) (OTCMKTS:NWVCF) said that it has signed a technology evaluation and license option agreement (TELOA) with Pick-One SA de CV to evaluate its dehydration technology for developing healthy snacks in Mexico. In a statement, the Vancouver-based advanced tech company said the TELOA was aimed at EnWave’s Radiant Energy Vacuum (REV) technology being utilized for developing dehydrated fruit and vegetable snacks. During the term of the TELOA, Pick-One will pay a monthly evaluation fee and have the non-exclusive option to license REV technology in Mexico for a range of snack products, said the company.

Story by ProactiveInvestors