NA Proactive news snapshot: Vuzix, Byrna Technologies, Tetra Bio-Pharma, Essex Minerals UPDATE ... 

Vuzix Corporation (NASDAQ:VUZI) announced Friday that it has reached a deal with institutional and other investors to purchase stock and warrants worth $15.5 million. The smart glasses and augmented reality company is selling the shares and warrants for $4.25 apiece as part of an at-the-market registered direct offering. The warrants will have an exercise price of $5.25 per share for a period of six months after the issue date. Vuzix plans to use the proceeds to more rapidly build up inventory in response to increasing customer demand and develop its next generation micro-LED designer style augmented reality smart glasses.

Byrna Technologies Inc (OTCQB:BYRN) (CSE:BYRN) announced Friday the election of Chris Reed to its board of directors and the expansion of its senior management team with the recent appointment of three senior executives. David North has assumed the role of chief financial officer, Sandra Driscoll is the company’s new director of human resources, and David Schultz is joining in the position of chief supply chain officer, according to a statement. Reed is a senior law enforcement professional who, prior to joining the company, served as the Special Agent in Charge and Director for the US Agency of International Development in the Office of the Inspector General. He has served with the US Department of Justice and the Bureau of Alcohol, Tobacco, Firearms & Explosives (ATF).

Tetra Bio-Pharma Inc (TSX:TBP) (OTCQB:TBPMF), a leader in cannabinoid-derived drug discovery and development, announced that Dania Scott has joined the company as its senior vice president Commercial Strategy. The group said in this role she will be the lead executive responsible for the global commercialization of QIXLEEF and will jointly report to Tetra’s chief executive officer (CEO) and its chief operating officer (COO). Prior to joining Tetra, Scott worked as Director of Pharmacy at Canopy Growth Corporation where she led the Canadian strategy and tactical plans for Retail & Hospital Pharmacy including pharmacy education, business development, public affairs initiatives, key opinion leaders and key accounts management from 2017-2020.

Essex Minerals Inc (CVE:ESX) is arranging a non-brokered private placement worth as much as C$2.75 million to fund its mineral projects and exploration expenses, the company announced Friday. The company plans to offer as many as 5 million common shares at a price of C$0.55 per share.  Essex may pay a finders fee as part of the placement, the company said, which may be paid in shares in lieu of cash. Securities issued as part of the offering will be subject to a hold of four months and one day.

Thoughtful Brands Inc (CSE:TBI) (OTCQB:PEMTF) (FWB:1WZ1), the renamed Mota Ventures, posted second-quarter results on Friday that saw its revenue jump 68% year-over-year driven by strong demand for its Nature’s Exclusive CBD brand and expanding customer base. For the period ended June 30, 2020, the natural health products and e-commerce technology company posted revenue of $12,842,934, driven by the popularity of its immunity-boosting Nature’s Exclusive CBD brand which saw a big sales boost during the coronavirus (COVID-19) pandemic. Building on the success of Nature’s Exclusive, Thoughtful Brands said it would continue to expand its portfolio in the nutraceutical and hemp-based CBD product space through the recent acquisitions of Golden Path and Wild Mariposa – two direct-to-consumer e-commerce brands offering natural health products in the US.

Silver Range Resources Ltd (CVE:SNG) told investors Friday it has now finalized the option deal on its drill-ready Cold Springs project in Nevada with Volt Energy Corp, which has now changed its name to Supernova Metals Corp (CVE: SUPR). The latter can acquire a 75% interest in the asset by paying Silver Range a total of C$300,000 in cash and performing a minimum of 2,000 meters of drilling over three years. Silver Range will retain a 2.5% net smelter return (NSR) that can be bought down to 1% by Supernova paying C$1.25million in cash. The prospect generator also updated investors on exploration in Nevada, where after June’s resurgence in silver prices, it said work was carried out on a high-grade silver prospect and a camp-scale silver target, as well as two high-grade gold targets.

American Manganese Inc (CVE:AMY) (OTCPINK:AMYZF) has unveiled further progress at its battery recycling pilot plant, saying it has increased its processing capacity by 356%. The company is focused on recovering key metals, such as nickel and cobalt, from scrap cathode material rejected by battery manufacturers in a ground-breaking process, then selling it back into the market. The firm’s research partner Kemetco has now further optimized the capacity of the plant’s pre-leach stage from 160kg per day to 292 kg per day of lithium-ion battery cathode scrap material, American Manganese said.

Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) announced that it has reached a settlement agreement with Passport Technology Inc regarding the termination of its previously announced acquisition agreement. Las Vegas-based Australis Capital also revealed that the company’s executive chairman Scott Dowty would be stepping down from the board.  Australis first announced on June 25 that it planned to acquire Passport Technology, which partners with casino operators to deliver funds to the casino floor through cash and cashless payment portals. Passport is in 72 casinos with 124 unattended kiosks in five countries. The acquisition would have complemented Australis’ existing fintech assets – Cocoon Technology and Paytron – to leverage purpose-built technology for highly regulated industries with a need for unattended kiosk solutions, but it was terminated on August 4.

The Flowr Corp (CVE:FLWR) said the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced August 28, 2020., which will see the issue of 673,077 shares at a purchase price of 52 cents per share, together with 673,077 share purchase warrants at an exercise price of 76 cents for a period of three years with one placee.

Canada Silver Cobalt Works Inc (CVE:CCW) said the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on September 2, 2020, which will see the issue of 12,261,327 shares at a purchase price of 55 cents each, together with 12,261,327 share purchase warrants at an exercise price of 65 cents and a term of three years with 109 placees.

First Cobalt Corp (CVE:FCC) said the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on August 11, 2020, and August 18, 2020, which will see the issue of 8,225,000 flow-through common shares, plus 8,528,643 non-flow-through common shares, at purchase prices of 16 cents per flow-through common share and 14 cents per non-flow-through common share, together with 12,641,143 share purchase warrants with an exercise price of 21 cents until August 27, 2022, with 17 placees.

Hillcrest Petroleum Ltd (CVE:HRH) said the TSX Venture Exchange has consented to the extension in the expiry date and amendment in the exercise price of the following warrants: 1.5 million warrants with an original expiry date of warrants May 10, 2021, and an original exercise price of five cents to a new expiry date of warrants of September 1, 2022, and a new exercise price of 10 cents; 15,979,668 warrants with an original expiry date of December 4, 2020, and an original exercise price of five cents to a new expiry date of September 1, 2022, and a new exercise price of 10 cents.

Esports Entertainment Group, Inc. (NASDAQ:GMBL) (NASDAQ:GMBLW), a licensed online gambling company with a focus on esports wagering and 18+ gaming, said it has been invited to present at the 9th Annual Gateway Conference, which is being held virtually on September 9-10, 2020. Esports management is scheduled to present on Thursday, September 10th at 7.00am Pacific Time, with one-on-one meetings to be held throughout the conference. The presentation will be webcast live and available for replay here: https://www.webcaster4.com/Webcast/Page/2492/37121. To receive additional information, request an invitation or to schedule a one-on-one meeting, investors can email: [email protected]

Story by ProactiveInvestors