NA Proactive news snapshot: Humanigen, Metalla Royalty & Streaming, Biocept, Zinc8 Energy Solutions ...UPDATE

Humanigen Inc (OTCMKTS:HGEN), the biotech firm focused on cancers and infectious diseases, is poised to carry out a reverse share split ahead of a potential listing on the Nasdaq exchange. In a statement, the firm said its board had decided to carry out a 1:5 (every five shares consolidated into one) reverse split of its outstanding shares, reducing the number of shares to around 42 million from 211 million previously. The split is expected to occur at 4:30pm EST on September 11 this year, with trading expected to begin on the split-adjusted basis on the OTCQB venture market at the market open on September 14.

Metalla Royalty & Streaming Ltd (NYSEAMERICAN:MTA) (CVE:MTA) has launched a US$20 million at-the-market equity program (ATM program) to fund future acquisitions of streams and royalties and for working capital. Under the program, Metalla may distribute up to US$20 million, or the equivalent in Canadian dollars, of shares. The stock will be issued by the company to the public from time to time, through the agents, at Metalla’s discretion, sold at the prevailing market price. “The net proceeds of any such sales will be used to finance the future purchase of streams and royalties by the company and for general working capital purposes. The company anticipates that it will use the flexibility and availability of the ATM program to finance small transactions, and the amended Beedie convertible loan facility for larger transactions,” the firm said.

Biocept Inc (NASDAQ:BIOC) announced that its common shares will begin trading on its new split-adjusted basis on the Nasdaq in New York at the opening bell on September 8. It comes after the group’s one-for-ten (ten shares combined and converted into one) reverse stock split which became effective at 5pm EST on September 4 this year. The stock will continue to trade under the ticker ‘BIOC’.

Zinc8 Energy Solutions Inc (CVE:ZAIR) has closed its previously announced private placing, raising C$1.4 million gross for working capital. The Vancouver-based group issued a total of 8.75 million units at C$0.16 each. Each unit consists of one common share and one share purchase warrant. Each warrant allows the holder to buy a further shares for 24 months from closing at an exercise price of C$0.30. Zinc8 is advancing a dependable low-cost zinc-air battery. This mass storage system offers both environmental and efficiency benefits.

Versus Systems, Inc. (CSE:VS) (OTCQB:VRSSF) (FSE:BMVA), at the request of Investment Industry Regulatory Organization of Canada (IIROC), said Friday that it wished to confirm that the company’s management is unaware of any material change in the company’s operations that would account for the recent increase in market activity, other than the previously announced agreement with HP on May 28, 2020, where testing continues.

Osprey Gold Development Ltd said that at the special meeting of shareholders held on Friday, all of the resolutions were duly passed, including the special resolution to approve the proposed plan of arrangement, under which Megumagold Corp. (CVE:NSAU) will acquire all of the company’s outstanding common shares in exchange for common shares on an exchange ratio of one MegumaGold common share for every two Osprey common shares outstanding. “I’m pleased Osprey shareholders have voted in favour of the transaction. I believe this presents a significant opportunity for Osprey and Meguma, and our new combined management team are looking forward to getting to work on the multitude of exploration targets in the consolidated land package,” said Osprey president Cooper Quinn. The closing of the transaction remains subject to final court approval as well as other customary closing conditions. Assuming the timely completion of these conditions, Osprey expects the transaction to close on or about September 14, 2020.

Next Green Wave Holdings Inc. (CSE:NGW) (OTCQX:NXGWF) has shared a recent Forbes Magazine interview with its CEO Mike Jennings to learn more about his lifelong passion of the craft growing cannabis. To view the article click here: https://www.forbes.com/sites/warrenbobrow/2020/07/19/7-questions-with-mike-jennings-divergent-ceo-of-next-green-wave/#235152114ed6

Silver Range Resources Ltd (CVE:SNG) said the TSX Venture Exchange has accepted for filing documentation relating to the agreement dated July 7, 2020, with non-arm’s-length party, Trifecta Gold Ltd, under which the firm will sell a 100%-interest in the Yuge property, a mineral gold property located in Humboldt county in Nevada. As consideration for the property, the purchaser will issue 4,797,611 common shares and pay a consideration of $250,000 in cash or shares, over a one-year period to the company. Silver Range will also retain a 2% net smelter return royalty.

Story by ProactiveInvestors