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NA Proactive news snapshot: Pacific Empire Minerals, Energy Fuels, RNC Minerals, CytoDyn, EXMceuticals, Ideanomics, Great Bear Resources, PyroGenesis Canada UPDATE …

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Pacific Empire Minerals Corp (CVE:PEMC) (OTCQB:PEMSF) announced it had received cash and share payments from M3 Metals Corp as part of an option agreement for its Stars project in British Columbia. The Vancouver-based prospect generator received the second anniversary cash payment of C$50,000 and 30,000 M3 shares under the agreement, which was signed in November 2017. M3 Metals has the right to earn a 30% interest on the project in return for spending C$4.5 million in exploration.

Energy Fuels Inc (NYSEAMERICAN:UUU) (TSE:EFR) has told holders of its floating rate convertible unsecured subordinated debentures that it will redeem the C$10.43 million principal amount of the C$20.86 million debentures outstanding. The debentures are redeemable for an amount equal to 101% plus accrued and unpaid interest thereon, up to but excluding the rededemption date of December 31, 2020. Following the partial redemption on July 14, C$10,430,000 will remain outstanding and will be subject to the terms of the indenture and remain listed on the Toronto Stock Exchange. CEO Mark Chalmers said the company expects to become debt-free by the end of 2020.

RNC Minerals (TSE:RNX) announced that shareholders overwhelmingly approved the miner’s name change to Kanora Resources Inc at its annual general meeting held today in Toronto. The Australia-focused mining company also re-elected its board of directors and reappointed PricewaterhouseCoopers LLP as auditors. Additionally, a special resolution authorizing a share consolidation was approved by 88%% of shareholders.

CytoDyn Inc (OTCQB:CYDY) announced Thursday it has met its 75 patient enrollment for a Phase 2 clinical trial of leronlimab for patients with mild-to-moderate symptoms of COVID-19, the disease caused by the coronavirus. The randomized trial will evaluate the improvement of several symptoms over a 14-day period, including changes in multiple clinical baseline metrics after days 3, 7 and 14. CytoDyn said it expects the evaluation of clinical patient data to be available two weeks after the last patient is enrolled. Because there are more patients who have been screened for enrollment, final enrollment is expected to exceed 75, the company added.

EXMceuticals Inc (CSE:EXM) announced Thursday it had struck a THC distillate supply deal for its proposed Portugal refinery. The agreement sees Econnabis SAS, a subsidiary of Plena Global Holdings Inc, supplying up to 200 kilograms of GMP-compliant THC distillate to Vancouver-based EXMceuticals at a time when the European cannabis market is seeing increased demand for cannabis-related products. EXMceuticals is planning to leverage its existing Portuguese operations to position itself as a major European supplier of cannabinoid formulations.

Ideanomics Inc (NASDAQ: IDEX) subsidiary Mobile Energy Global (MEG) and Beijing Silk Road Rainbow Group have jointly developed a new energy bus plan to help facilitate the sale of more than 2,000 electric buses in China. The bus manufacturers, selected because they’re capable of fulfilling multiple large-scale orders, include CRRC, Zhong Tong, Shanghai Shenli, and Yunnan Wulong, according to a statement Thursday. Ideanomics said the Chinese government has mandated that bus operators convert or replace their bus equipment with clean energy vehicles by the end of 2022. The replacement market is estimated to be in excess of US$118 billion.

Ideanomics also said Thursday that it had entered into the second stage of its debt conversion as part of its growth plans. Debt holdings to ID Venturas and YA II totaling around US$10.6 million were fully converted to equity following last week’s announcement that the New York-based company’s chairman and vice-chairman also converted their debt into equity. The conversion pushed out the average maturity on remaining debt until mid-2021, according to the company. The move comes as part of the electric vehicle company’s plans to strengthen its balance sheet and reduce interest payments as it prepares to execute its growth plans.

Great Bear Resources Ltd (CVE:GBR) (OTCQX:GTBAF) continues to see more success at the drill bit in the form of another milestone interval from the Dixie gold project in Ontario. The Vancouver-based company intersected 31.3 grams per ton (g/t) gold over 20.6 metres including 576 g/t over 1 metre at the LP Fault on the flagship project, which is the highest grade interval at the zone to date. Drill hole BR-137 was completed in a 90 metre gap in drilling and intersected multiple mineralized intervals along 258.4 metres of core length, with mineralization present at surface.

PyroGenesis Canada Inc (CVE:PYR) (OTCQB:PYRNF) partner HPQ Silicon Resources Inc (CVE:HPQ) (OTC:URAGF) has signed a non-disclosure agreement (NDA) with an advanced materials developer. The deal is designed for the sharing of technical information and for HPQ to send silicon samples produced by the PUREVAP Nano Silicon Reactor (NSiR) for energy storage applications. Nano Silicon (Si) powders have been identified as the key element for the manufacturing of high-performance Li-ion batteries, the company said.

Avalon GloboCare Corp (NASDAQ:AVCO), a clinical-stage developer of cell-based technologies and therapeutics, announced Thursday that it has struck a three-way material transfer agreement (MTA) with Weill Cornell Medicine in New York City and the company’s strategic partner, Arbele Limited. With this agreement, Avalon GloboCare and Arbele Limited intend to collaborate with Weill Cornell Medicine and co-develop the standardized laboratory steps necessary to generate clinical-grade CAR-T and CAR-natural killer (NK) cells for use in future human clinical trials with Avalon’s first FLASH-CAR platform candidate, AVA-011. Similar to T-cells, NK cells are a type of white blood cell, also able to attack cancer cells, but utilize different mechanisms.

Japan Gold Corp (CVE:JG) (OTCQB:JGLDF) unveiled further encouraging results from surveys at its Ohra-Takamine gold project in southern Kyushu, where it has now defined five new exploration targets. The firm holds over 30 projects across Japan’s three largest islands – Hokkaido, Honshu and Kyushu – and Ohra-Takamine lies in a highly prospective gold district and hosts five historic gold mines – Matsuno, Urushi, Takamine, Ohra, and Aira Yamada. More than 11 million ounces has been produced from the region so far.

AIM ImmunoTech Inc (NYSEAMERICAN:AIM) has filed for a provisional patent application for its experimental drug Ampligen, a potential early-onset treatment for COVID-19-induced chronic fatigue. Ampligen, which has been approved in Argentina, is currently in use in the US under a US Food and Drug Administration-authorized open-label expanded access treatment protocol to Chronic Fatigue Syndrome (CFS). Charles Lapp, a doctor at the Hunter-Hopkins Center and one of the investigators treating CFS patients with Ampligen, believes the drug could help the fatigue experienced by coronavirus patients.

Fireweed Zinc Ltd (CVE:FWZ) (OTCMKTS:FWEDF) outlined this year’s exploration plans at its huge Macmillan Pass property in Yukon, where it will look at several early-stage targets ahead of potential drilling. The property spans a 544 sq km district and is already known to host three large zinc deposits, but Fireweed has identifed multiple other areas of interest, many of which have never been drilled. “This year, in addition to continued work on Tom, Jason and Boundary Zone, our geologists will be investigating some of these new early-stage targets in preparation for potential drilling,” Brandon Macdonald, the group’s CEO, said in a statement.

Aurania Resources Ltd (CVE:ARU) (OTCQB:AUIAF) said shareholders had approved all resolutions at its annual and special meeting held on June 10, this year, including its financial statements for the year to December 31, 2019. In a brief statement Thursday, the firm also corrected an error made in an announcement on February 28 this year, which stated compensation paid to finders for their assistance with the first tranche of a private placing that closed on the same date was C$604 instead of the correct amount of C$2,604.

WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) reported revenue of C$20.8 million during its fiscal 2019, driven largely by strength in adult-use and medical cannabis sales. The medical-grade cannabis producer’s 2019 revenue figures represented a 162% increase over 2018 levels, which came in at C$8 million. During its fourth quarter ended December 31, 2019, the company saw its total revenue hit nearly C$2.9 million, derived entirely from consumer sales.

First Mining Gold Corp (TSE: FF) (OTCQX: FFMGF) unveiled Thursday a US$22.5 million funding deal with shareholder First Majestic Silver Corp (TSE:FR), which will give it enough capital to advance its flagship Springpole gold project in Ontario through the pre-feasibility and environmental assessment stage. First Majestic will pay the exploration group US$22.5 million in total for a 50% stream of the silver produced from Springpole over its life, the group said in a statement.

Newgioco Group Inc (NASDAQ:NWGI) announced Thursday that Odissea Betriebsinformatik Beratung GmbH, its wholly owned software development subsidiary, has passed Stage 1 of the ISO-27001 certification process for safety management. The online sports betting and gambling company said the certification process involved an informal review of Odissea’s Information Security Management System (ISMS). 

OTC Markets Group Inc (OTCQX: OTCM) announced that Diversified Gas & Oil PLC (LSE:DGOC) (OTCQX:DGAOF), an independent owner and operator of natural gas, natural gas liquids and oil wells as well as midstream assets in the Appalachia Basin, has qualified to trade on the OTCQX Best Market. US investors can find current financial disclosure and real-time level 2 quotes for the company on www.otcmarkets.com. “As a US-based company, Diversified is pleased to be joining the OTCQX Best Market, which provides greater visibility and access to US investors and can further enhance the trading liquidity in our shares. The OTCQX Market offers a recognizable, efficient platform on which investors, particularly within the US, may trade our shares,” Diversified CEO Rusty Hutson Jr.

BetterLife Pharma Inc (CSE:BETR) (OTCQB:PVOTF) announced an exclusivity agreement with Altum Pharmaceuticals Inc on Thursday to work toward a mutually agreeable deal for their planned merger. The plan is for BetterLife to issue about 4.5 common shares of its stock for every one Altum share, which represents roughly $36.1 million. Altum’s drug pipeline includes lead product AP-003, an inhalation formulation that could represent a potential treatment against coronavirus (COVID-19) as it shows effectiveness in slowing viral replication. Under the agreement, BetterLife will acquire worldwide rights to commercialize and sell AP-003.

Fireweed Zinc Ltd (CVE:FWZ) (OTCMKTS:FWEDF) outlined this year’s exploration plans at its huge Macmillan Pass property in Yukon, where it will look at several early-stage targets ahead of potential drilling. The property spans a 544 sq km district and is already known to host three large zinc deposits, but Fireweed has identifed multiple other areas of interest, many of which have never been drilled. “This year, in addition to continued work on Tom, Jason and Boundary Zone, our geologists will be investigating some of these new early-stage targets in preparation for potential drilling,” Brandon Macdonald, the group’s CEO, said in a statement.

Esports Entertainment Group Inc (NASDAQ:GMBL) said it has appointed Argyll Entertainment senior executives Stuart Tilly and Dan Marks as its corporate secretary and chief financial officer, respectively.

Silvercorp Metals Inc (NSYEAMERICAN:SVM) (TSE:SVM) revealed it will not exercise its right to match an offer for miner Guyana Goldfields Inc (TSE:GUY), which runs the Aurora gold mine, after the latter received “a superior” proposal from a third party. As reported in May, Silvercorp amended a previously announced agreement with Guyana Goldfields Inc (TSE:GUY), which valued Guyana at around C$227 million. But last week, Guyana revealed an offer from a foreign-based multinational that was 35% higher than Silvercorp’s offer.

Media Central Corporation Inc (CSE:FLYY) (FSE:3AT) said it has entered several affiliate marketing partnerships with leading esports gambling sites to further monetize its ECentralSports.com digital media platform.

Pressure BioSciences Inc (OTCQB:PBIO) said its merger partner, SkinScience Labs, has received an initial $3.5 million order for its newly developed dermatological hand sanitizer product.

Story by ProactiveInvestors



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