NA Proactive news snapshot: WeedMD, Essex Minerals, NexTech AR, Valens, KULR Technology ...

WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) (FRA:4WE) reported its fiscal 2Q results that saw it generate C$5.9 million over the quarter ended June 30, 2020, driven by its new direct-to-consumer model in the adult-use market. The cannabis company is sharpening its focus on higher-margin consumer-directed revenue, which contributed $2.4 million to overall revenue for the quarter. Total cannabis sold came in at nearly 977,000 grams at an average selling price of C$4.96 per gram and a cultivation cost of C$0.55 per gram, as compared to the C$3.76 per gram at C$0.96 cultivation cost it sold for during the same period a year ago.

Essex Minerals Inc (CVE:ESX) (FRA:EWX1) told investors that the first phase drilling at its Cumberland joint venture project in Queensland, Australia had been an “exceptional success”, with all six holes hitting favourable geology. The drilling covering 1,248.9 metres (m) confirmed the initial interpretation that the RBZ Structural Zone is a large 3.5 kilometres by 700m wide structural corridor similar in geology to many of the world’s major epithermal gold and gold-silver deposits. One hole in the southern part of the zone hit 18.8 grams per ton (g/t) gold and 160.6 g/t silver over 6.4m from 139.5m down hole.

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) (FRA:N29) revealed that the company’s popular video conferencing and virtual events platform InfernoAR is now eyeing large international and US government agency contract sales. The company recently acquired remote video learning and training platform Jolokia, now InfernoAR, and has its own unique registered Commercial and Government Entity Code, or NCAGE Code for doing business with the US federal government, and NATO’s commercial and government agencies globally. NexTech has also been GSA-approved, which opens the doors to long-term nationwide government contracts. “With our new video and virtual events conferencing capabilities the InfernoAR platform is rapidly winning new business, scaling, and gaining attention from large multinational corporations and US government branches, which we are currently quoting,” said NexTech CEO Evan Gappelberg.

The Valens Company Inc (CVE:VLNS) (OTCQX:VLNCF) (FRA:7LV) announced Thursday the launch of vape cartridges under a custom manufacturing agreement with TREC Brands for its WINK brand premium product portfolio. Valens said the 510 thread cartridges, WINK Onyx and WINK Chalice, are the first set of vape products to be introduced to WINK’s carefully curated collection of unique products. The cartridges contain high THC, custom formulations crafted using a broad-spectrum CO2 extraction process, offering consumers terpene-rich cannabis extract, free of carriers and additives, according to a statement. Valens said TREC Brands will donate 10% of profits from all sales of WINK products to community-based initiatives that put the people and planet first.

KULR Technology Group Inc (OTCQB:KULR) announced that it will supply NASA with safe storage solutions for the Microsoft Surface Pro 5 hybrid notebook computers used aboard the International Space Station (ISS). In a statement, the company said it will include a version of its passive propagation resistant Thermal Runaway Shield (TRS) technology in fireproof storage pouches, which are specifically designed to mitigate the risks of lithium-ion battery fires and explosions while accommodating the restrictive dimensions of the Microsoft Surface Pro 5. The safe storage pouches will be used onboard the Orion spacecraft to transport crews to and from the ISS and will be included in a future NASA launch.

Progressive Planet Solutions Inc (CVE:PLAN), the natural pozzolan-focused firm, has announced the closing of its two financings for total gross proceeds of C$304,750. In a brief statement, the firm said 3.15 million non-flow through units were issued under the private placement at C$0.065 each, for gross proceeds of $204,750. Each unit consisted of one share and one half warrant exercisable at C$0.10 per share for 12 months. There were 1.25 million flow-through units issued under the private placement at C$0.08 each for gross proceeds of C$100,000. Each flow through unit consisted of one “flow through” common share and one half warrant exercisable at C$0.10 per share for 12 months. Proceeds for the flow-through units will be used for continued exploration on its 100% owned Heffley Creek Metals and Pozzolan Property in British Columbia. The firm noted that it had originally announced it would offer up to 6.5 million units, but received funds from the exercise of outstanding warrants at 5 cents issued from a prior financing since announcing this financing. Thus, to minimize shareholder dilution, management decided to limit the units sold in the placing.

District Metals Corp (CVE:DMX) (FRA:DFPP) said Thursday it had received “valuable information” about its Tomtebo project through a successful field work program at the Swedish property. The firm told shareholders that it identified strongly altered and mineralized rocks along the southern portion of the historic Tomtebo mine for at least 600 metres, with all rocks within the two Tomtebo open pits appearing to be strongly altered with sulphide mineralization occurrences. Mineralization seen at the Tomtebo open pits confirms the location as proximal feeder zones, according to the company.

American Resources Corporation (NASDAQ:AREC) announced Thursday that it has won the National Mining Association’s 2019 Sentinels of Safety Award, which is widely considered mining’s most prestigious safety award. NMA’s Sentinels of Safety Award recognizes mineral mining operations in various categories for recording the most hours in a calendar year without a single lost-time injury. A minimum of 4,000 hours is required for award consideration. American Resources said it received the award for its underground, room and pillar carbon mining operation in Letcher County, Kentucky.

Melkior Resources Inc (CVE:MKR), the junior metals explorer, said the Toronto venture exchange had accepted for filing documentation about the private placing announced in May, July and August, which consists of 1.25 million shares priced  at C$0.80 each. There are also 1.25 million share purchase warrants to buy 1.25 million shares for C$1.20 for two years.

Black Iron Inc (TSE:BKI) (OTCMKTS:BKIRF) (FRA:BIN) has updated on its quest to get its giant Shymanivske iron ore project in Ukraine financed and built, saying it had set a deadline of October 9 for expressions of interest on an offtake deal. Steel mills and global traders can secure the right to purchase the group’s initial entire expected annual production of 4 million tonnes of pellet feed, in exchange for making a “substantial investment” towards the cost of construction, the group said in a statement. Upon a review of the expressions received, those who submit the most compelling investment and offtake proposals will be invited to participate in a second round of due diligence, added Black Iron. “Upon completion of the second round, targeted for mid-Q1 2021, binding submissions to invest and secure offtake rights will be sought.”

Story by ProactiveInvestors