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NA Proactive news snapshot: Esports Entertainment Group, Levitee Labs, Champignon Brands, CleanSpark, Versus Systems UPDATE ...

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Analysts at Noble Capital raised their price target for Esports Entertainment Group Inc. ((NASDAQ:GMBL) to $20 from $11 per share and repeated an ‘Outperform’ rating on the stock following the release on Tuesday of 2Q numbers from the licensed online gambling company focused on the growing world of professional video gaming. The analysts said the target hike reflected the favorable environment for funding the group’s recently announced acquisitions and without the prospect of significant debt.

Levitee Labs Inc., a private British Columbia company in the alternative medicine and integrative wellness space, said Wednesday that it has close a heavily oversubscribed non-brokered private placement with the issue of a total of 21,140,000 subscription receipts of the company at a price of $0.50 each, for aggregate gross proceeds of $10,570,000. The company said it intends to use the proceeds from the private placement to fund acquisitions, as working capital and for fees associated with the listing of its shares. With the private placement closed, Levitee Labs said it now intends to pursue the listing as expediently as possible.

Champignon Brands Inc (CSE:SHRM) (FRA:496) (OTCQB:SHRMF) is set to withdraw and refile its interim consolidated financial statements and management’s discussion & analysis (MD&A) for the three and six month periods to end March last year, following a review by the British Columbia Securities Commission (Commission). It has submitted restated drafts  of these and its September financial statements and MD&A for review. The company also said it had today filed a draft of a new Listing Statement with the Commission and the Canadian Securities Exchange (CSE) for review

CleanSpark Inc (NASDAQ:CLSK) will be participating in the Water Tower Research Fireside Chat Series on Thursday, February 18, 2021, at 3:00 pm ET. Topics covered will include a review of the most recent quarter’s performance and an update on the 2021 outlook. The company’s residential initiative, new partnerships, and the growth and performance of its Bitcoin mining operations will also be highlighted. The chat will feature Zachary Bradford, CleanSpark’s CEO, and  the host and moderator will be Shawn Severson, Head of Sustainable Investing at Water Tower Research. A brief question and answer session to follow. Registration is available at

Versus Systems Inc. (NASDAQ:VS) (CSE:VS) (FRA:BMVB) has announced a partnership agreement with Xcite Interactive, a world leader in interactive audience engagement, which will see audiences able to win real-world prizes while watching sports, playing mobile games, and watching streams on their TVs and mobile devices. Xcite’s technology has powered interactive media experiences for major sports leagues like the NFL, NBA, NHL MLB, and NCAA, as well as events like the Olympics, the World Cup, X-Games, Formula1, and corporate events around the world. Under the partnership agreement, Versus will provide its patented rewards technology for use in both at-home and in-venue projects with Xcite, allowing fans to earn real prizes through Xcite’s platform, which includes gamification through voting, polling, trivia, predictive gaming, and mini-games that fans can play alongside the live event experience.

RedHill Biopharma Ltd (NASDAQ:RDHL) announced Wednesday that the first patient was dosed in its US Phase 2/3 study of orally-administered RHB-107 (upamostat), an investigational new drug for patients with symptomatic coronavirus (COVID-19) who do not require hospital care. In a statement, RedHill’s CEO Dror Ben-Asher told investors that the company is “positioned at the very forefront of COVID-19 therapeutic research, aiming to address both existing and emerging mutations.” The Tel Aviv and Raleigh, North Carolina-based firm is quickly advancing two Phase 3-stage novel, orally-administered, potential COVID-19 treatments: RHB-107, for outpatient use, and opaganib for hospitalized patients.

CleanSpark Inc (NASDAQ:CLSK) said it has launched its mVoult residential solution, providing homeowners with a standalone energy management controller. Designed for home microgrids, mVoult is capable of directing the operations of both existing and new energy assets. It will be offered as a smart controller and mobile app specifically built for residential applications. was launched as an informational website with the opportunity for homeowners to request updates and get on the waiting list. The company expects to begin taking pre-orders for both the stand-alone controls and the fully integrated solution in April, with installations to follow this summer.

Valeo Pharma Inc (CSE:VPH) (OTCQB:VPHIF) (FRA:VP2) and its development partner Ingenew Pharma Inc announced Wednesday that its Hesperco capsules will be at the core of the Montreal Heart Institute’s (MHI) clinical trial called ‘The Hesperidin Coronavirus Study’. The company said the MHI’s study will evaluate the effect of hesperidin on coronavirus (COVID-19) symptoms and its ability to reduce disease severity and the need for hospitalization in patients with COVID-19. The randomized, double-blind, placebo-controlled study will enroll 216 confirmed COVID-19 symptomatic patients. The Hesperco capsules have been approved by Health Canada for immune support and contain hesperidin.

Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) revealed it is boosting its portfolio with a new strategic investment in the Råna nickel project in Norway. The acquisition includes an interest in a portfolio of four exploration licences from Scandinavian Resource Holdings Pty Ltd and a 1% net smelter return (NSR) royalty on the property from Chincherinchee Nominee Pty Ltd. The project portfolio includes three exploration licences covering the past-producing Bruvann Nickel Mine and a fourth exploration licence to the west, which collectively forms the Råna project. Group, Inc (OTCQB:RCRT) has announced a new Marketplace partnership with Fundomate, a provider for turnkey business funding solutions, to bring automated business funding to’s US-based partner companies. The company said it will utilize Fundomate’s technology and expertise in the alternative lending space to provide its more than 27,500 small and independent recruiters with pre-approved, affordable working capital offers based on their business history. “Accessing capital, especially for small and independent recruiters and staffing firms, has never been easy and given their structure, the new Payroll Protection Program is not able to assist their cash flow needs,’ said Group CEO Evan Sohn said in a statement.

Kintara Therapeutics Inc (NASDAQ:KTRA) announced Wednesday that it has enrolled the final patient in the recurrent arm of its ongoing Phase 2 clinical glioblastoma multiforme (GBM) study of its VAL-083 drug. The recurrent arm of the study addresses patients suffering from GBM who have been pre-treated with the drug temozolomide (TMZ) prior to disease recurrence, the company said. The trial is designed to treat up to 83 patients (35 patients at 40 milligrams per square meter per day and 48 patients at 30 mg/m2/day) to determine whether treatment with VAL-083 improves overall survival. GBM is the most deadly form of brain cancer, and this trial could shorten VAL-083 timeline to pivotal trial completion and potential regulatory submission by as much as 18 months. The study is being conducted at the MD Anderson Cancer Center.

Aftermath Silver Ltd (CVE:AAG) (OTCQB:AAGFF) said fieldwork has commenced at the Challacollo silver-gold project in northern Chile, with field crews having commenced cutting and sampling of 3,200 meters of previously unsampled historic core. The explorer said the program is designed to test the material outside of the high-grade structures that formed the mineral resource estimate by sampling disseminated breccia style mineralization within the optimized pit shell that constrains the current mineral resource, adding that previous sampling of these drill holes was focused only on the Lolón Structure and visual sub-parallel structures.

Revive Therapeutics Ltd. (CSE:RVV) (OTCMKTS:RVVTF) said that, further to its press release dated December 21, 2020, it has entered into an asset purchase agreement with Newscope Capital Corporation to acquire the full rights to PharmaTher Inc.’s intellectual property relating to psilocybin. PharmaTher, a wholly-owned subsidiary of Newscope, is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals.

Lucky Minerals Inc.(CVE:LKY) said it has closed the first tranche of a previously announced private placement, issuing 24,795,600 units for total proceeds of $1,983,648. In aggregate, the private placement will see the issue of up to 62.5 million units of the company at a price of C$0.8 cents per unit for gross proceeds of up to $5 million. The company intends to use the net proceeds of the offering for exploration expenditures on the Fortuna Property in southern Ecuador as well as working capital and general corporate purposes.

Willow Biosciences Inc (CVE:WLLW) has said that its common share purchase warrants will be delisted at the close on March 1, 2021. The company issued a news release on January 25, 2021, notifying investors that the company had elected to accelerate the expiry of the warrants as the common shares of the company had reached a volume-weighted average trading price on the TSX of greater than $1.20 for at least 20 consecutive trading days. The warrants, which were originally set to expire on October 29, 2022, will now expire at 5.00pm Calgary time on February 28, 2021. Each warrant entitles the holder to purchase one common share of the company at a price of 85 cents per common share.

Analysts at Noble Capital raised their price target for Esports Entertainment Group Inc. ((NASDAQ:GMBL) to $20 from $11 per share and repeated an ‘Outperform’ rating on the stock following the release on Tuesday of 2Q numbers from the licensed online gambling company focused on the growing world of professional video gaming. The analysts said the target hike reflected the favorable environment for funding the group’s recently announced acquisitions and without the prospect of significant debt.

Tartisan Nickel Corp.(CSE:TN) (OTCMKTS:TTSRF) said it has boosted its footprint at its Sill Lake lead-silver project with the addition of new claims in the Sault Ste. Marie Mining District of Ontario. The company said it paid cash of C$75,000 and issued 100,000 shares of Tartisan Nickel Corp. A 2% net smelter return royalty (NSR) has also been paid and assigned to the vendors. The Sill Lake lead-silver project now consists of 47 single claims, representing 933.57 hectares, having been around 372 hectares previously.

Real Luck Group Ltd (CVE:LUCK) (OTCMKTS:LCKKF) said it has signed agreements with four leading payment processing partners, Skrill, NETELLER, ecoPayz, and Trustly. The legal, real money esports betting firm said the agreements will offer a broad range of payment options, including Visa, Mastercard, ApplePay, and Google Pay, to customers in more than 100 countries worldwide. 

NetCents Technology Inc (CSE:NC) (FRA:26N) (OTCQB:NTTCF), a cryptocurrency payments company, announced Wednesday that it recorded $8.2 million in transactions in January. In addition, the company reported that its first-quarter revenue surged about 143% quarter-over-quarter and 476% year-over-year, based on its unaudited three months ended January 31. NetCents said it pulled in 1Q revenue of $257,008. The company also said it increased monthly revenue by 659% year-over-year from $15,632 in January 2020 to $118,684 in January 2021. 

Mind Medicine (MindMed) Inc (NEO:MMED) (OTCQB:MMEDF) (FRA:MMQ) announced Wednesday the start of a Phase 1 study for its LSD neutralizer technology, which is designed to shorten and stop the effects of an LSD trip during a therapy session.  LSD is thought to induce its prototypical psychedelic effects primarily by stimulating the serotonin 5-HT2A receptor. Studies of healthy volunteers have shown that administering ketanserin, a 5-HT2A receptor antagonist, before administering LSD almost completely, prevents the psychedelic drug’s acute effects.  

First Cobalt Corp (CVE:FCC) (OTCQX:FTSSF) (FRA:18P) announced Wednesday that it has begun a study of “black mass” material from recycled batteries as a supplemental source of feed for its hydrometallurgical refinery north of Toronto. The company said it believes the refinery could recover cobalt, nickel, copper, and potentially lithium and manganese – in addition to planned cobalt production from primary feed. Discussions are underway with several producers of black mass. 

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) updated shareholders Wednesday on a host of new developments related to its recreational brands in Canada and medical products in the US and abroad.  The cannabis company said it had started shipping derivative products under its RAD brand to both BC and Alberta for sale across authorized channels in the provinces. In addition, the company said it had applied for a flower sales licence from Health Canada to support the planned launch of RAD Reefer and RAD Doobies and submitted other brand SKUs to provincial regulators in eight additional provinces. 

Mandalay Resources Corporation (TSE:MND) (OTCQB:MNDJF) (FRA:R7X2) has unveiled positive results from depth drill testing at its Björkdal mine, which could mean a significant increase in the development life of the Swedish asset. Since last year, a major focus of exploration at the gold mine has been on the depth and eastern extension of the Lake Zone veining. 

ElectraMeccanica Vehicles Corp (NASDAQ:SOLO) announced Wednesday the expansion of its retail footprint into seven additional US locations along the West Coast. These direct-to-consumer retail centers include the company’s first locations in Colorado and Washington, as well as additional locations in California, Arizona, and Oregon. Following the opening of these new locations, ElectraMeccanica said it now maintains a total of 20 locations in 10 major metropolitan areas within five states in the western US.

GlobeX Data Ltd (CSE:SWIS) (OTCQB:SWISF) shares were on the move on Wednesday after the data security company announced its first distribution agreement in Australia. The Toronto and New York-based firm said it has signed an agreement for its Sekur communications product with an IT managed security provider to start sales in the Sydney area. The agreement is part of GlobeX’s wider strategy to expand in Australia and New Zealand, the company said.

Nextech AR Solutions Corp (OTCQB:NEXCF) (NEO:NTAR) (CSE:NTAR) (FRA:N29) announced Wednesday that the Ontario Dental Association (ODA) has chosen the company’s Virtual Experience Platform (VXP) to host this year’s virtual Annual Spring Meeting (ASM21) on May 6-8. The ODA represents more than 10,000, or roughly 9 in 10, dentists in the province, and ASM21 is considered its signature event of the year, the company said. The organization required a robust all-in-one solution to host every component of the virtual conference under one platform. 

KushCo Holdings Inc (OTCQX:KSHB) reported that it has renewed its partnership with Abstrax Tech (ABSTRAX), a provider of research, development, and production of cannabis and botanically-derived terpenes. Terpenes are the organic compounds responsible for creating the unique aroma of each individual cannabis plant and are thought to provide therapeutic benefits, much like other cannabinoids such as THC and CBD. 

GR Silver Mining Ltd (CVE:GRSL) (OTCQB:GRSLF) (FRA:GPE) continues to report encouraging drill results from its Plomosas Silver project, which augur well for its planned resource estimate for two areas – Plomosas and San Juan – earmarked to be completed in the second quarter this year. Highlight assays include 2.5 metres (m) at 2,195 grams per ton (g/t) silver, 1.12 g/t gold, including an intercept of 0.85 m at a grade of 5,600 g/t silver and 1.04 g/t gold. The company said these latest assays continue to show high-grade silver-gold epithermal mineralization in the San Juan area of the project and the expansion of the mineralized trend southwards towards the nearby San Francisco vein.

Aurania Resources Ltd (CVE:ARU) (OTCQB:AUIAF) (FRA:20Q) said it has been granted the first six mineral concessions from the 393 covering around 384,000 hectares that it has applied for in northern Peru. The mineral explorer said the application for the concession package was made to cover potential extensions of the sedimentary-hosted copper-silver identified over the border at its Lost Cities – Cutucu project in south-eastern Ecuador.

Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) (FRA:AGW), the drug repurposing company, updated on the progress of releasing its final data set from the Phase 2b part of its Phase 2b/3  trial to assess Ifenprodil as a potential coronavirus (COVID-19) treatment. ”The company reports that due to a fire at the Romanian Hospital site, there was a delay in completing the site audit as planned,” Algernon said in a statement on Wednesday. 

Fury Gold Mines Limited (TSE:FURY) (NYSEAMERICAN:FURY) (FRA:AUN1) outlined this summer’s exploration plans for its Committee Bay gold project in the Kitikmeot region of Nunavut – one of the largest unexplored greenstone belts left in North America. Planned are between 5,000 metres (m) and 10,000m of drilling with three goals, one of which is to expand the existing resource at the Three Bluffs deposit, which already boasts 525,000 ounces (oz) at 7.85 grams per ton (g/t) gold in the indicated category and 720,000 oz at 7.64 g/t gold in inferred. 

HempFusion Wellness Inc (TSE:CBD.U) (OTCMKTS:CBDHF) (FRA:8OO) announced that it has been selected by Mount Sinai Medical Hospital in New York City to be the exclusive brand and the sole CBD supplier in a six-month clinical trial. The company said the clinical trial, which is expected to begin in March, is comprised of two studies conducted by board-certified cardiologist and electrophysiologist Dr. David Harnick, and is one of the first of its kind in the area of CBD’s effect on targeted cardiology markers. 

Victory Resources Corporation (CSE:VR) (OTCMKTS:VRCFF) (FRA:VR62) told investors it has applied for a permit to carry out an induced polarization (IP) survey at its Mal-Wen project in British Columbia to be followed by a 1,000 metre (m) plus drill program. Depending on when it receives the permit, the company aims to do the survey in late spring and drill the targets which are generated this summer.

Canntab Therapeutics Limited (CSE:PILL) (OTCQB:CTABF) (FRA:TBF1), a leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic applications, said it has engaged Independent Trading Group Inc. (ITG) to provide market-making services to the company. ITG will trade the company’s common shares on the Canadian Securities Exchange and other marketplaces, as applicable, with the objective of maintaining a reasonable market and improving the liquidity of the common shares. Under the terms of a services agreement, ITG will receive compensation of C$5,000 per month (plus applicable taxes), payable on the first business day of each month, for an initial term of three months, with services commencing on February 11, 2021. The services agreement will automatically renew for additional one-month terms unless terminated by either party in accordance with the terms and conditions and may be terminated by either party with 30 days’ notice.

American Manganese Inc. (CVE:AMY) (OTCPINK:AMYZF) (FRA:2AM) said it has granted 5,950,000 incentive stock options to certain of its directors, officers and consultants. The options are exercisable at a price of $2.63 per share for a five-year term. Any shares issued on the exercise of these stock options will be subject to a four-month holding period from the date of the grant. The stock option grants are subject to acceptance by the TSX Venture Exchange

Progressive Planet Solutions Inc (CVE:PLAN) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement announced on January 25, 2021, which will see the issue of 7 million shares at a purchase price of 20 cents per share, together with 7 million share purchase warrants with an exercise price of 25 cents for a two-year period, subject to an acceleration clause, with 39 placees.

OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for 11,000 U.S. and global securities, has announced that Heliostar Metals Ltd. (CVE:HSTR) (OTCQX:HSTXF), a junior exploration and development company, has qualified to trade on the OTCQX Best Marke and has today upgraded from the OTCQB Venture Market. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among US investors. Heliostar CEO, Charles Funk, commented: “Graduating to the OTCQX represents the recent growth at Heliostar as we progress our high-grade gold projects in Alaska and Mexico.  In Alaska, the Unga project contains 384,318 ounces of gold at 13.8g/t which is open to expand and the company plans to aggressively explore the project in 2021 with an initial goal of defining resources in excess of one million ounces. Upgrading will make it easier for investors to buy into a high-grade, American gold project with a dynamic future.”

Story by ProactiveInvestors


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