NA Proactive news snapshot: CytoDyn, QC Copper and Gold, Predictmedix, Tetra Bio-Pharma, Loop Insights ...

CytoDyn Inc (OTCQB:CYDY), a biotechnology company developing its flagship drug Vyrologix (leronlimab-PRO 140) for multiple indications, said it has completed an additional potentially non-dilutive convertible debt offering with an institutional investor, which provides “$25 million of immediately available capital.” The note has a two-year maturity, bears interest at the rate of 10% per annum and is secured by assets belonging to the company, excluding its intellectual property. In a statement, CytoDyn CEO Nader Pourhassan said: “We are very pleased with the institution’s demonstration of confidence and their understanding of leronlimab’s positioning on its regulatory trajectory. This infusion of capital will help ensure we have sufficient quantities of leronlimab available upon any potential approvals for COVID-19 treatment.”

QC Copper and Gold Inc (CVE:QCCU) (OTCMKTS:QCCUF) said it has signed an agreement to buy a 50% ownership interest in the Roger Gold-Copper project located in Quebec’s Chibougamau District from Pasofino Gold Ltd (CVE:VEIN) (OTCMKTS:EFRGF) (FRA:N07). The company will pay a total consideration of C$2 million for the property, consisting of $1 million in cash and 5.5 million QC Copper shares.  

Predictmedix Inc (CSE:PMED) (OTCQB:PMEDF) announced a partnership Monday to deploy its Safe Entry Station units in partnership with event management firm Juiceworks Exhibits and marketing software company Connectus Global. The Safe Entry Systems rely on military-grade multispectral cameras paired with proprietary, clinically-based artificial intelligence algorithms to check for multiple symptoms associated with the coronavirus (COVID-19). With this partnership, Predictmedix will make its customizable Safe Entry Stations available to Connectus Global’s clients. 

Tetra Bio-Pharma Inc (TSE:TBP) (OTCQB:TBPMF) (FRA:JAM1) announced that the US Food and Drug Administration (FDA) had positive things to say during a review of the preclinical data package and clinical development plan for its drug ARDS-003 as a treatment for the coronavirus (COVID-19). ARDS-003 is formulated to treat hyperinflammatory conditions, such as those seen in patients suffering from COVID-19 viral infections. Having heard from the regulatory body, the company plans to file an investigational new drug application to initiate a clinical trial. 

Loop Insights Inc (CVE:MTRX) (OTCQB:RACMF) announced it has joined the Sovrin Foundation, an open-source, open-standards technology platform for digital identity. Built on a public blockchain, Loop said the Sovrin Ledger protects personal information while giving control of personal data back to the individuals. The company joins over 70 leading tech organizations around the world including Cisco, T-Mobile, and NEC that have committed computing power and resources to strengthen the Sovrin Network.

Real Luck Group Ltd (CVE:LUCK) (OTCMKTS:LUKEF), doing business as Luckbox, has received approval to trade on the OTCQB Venture Market starting Monday. The company’s common shares will trade under the symbol “LUKEF” on the New York-based exchange. Real Luck Group’s commons shares will continue trading on the TSX Venture Exchange under the symbol “LUCK”.

Thor Explorations Ltd (CVE:THX) (OTCMKTS:THXPF) has signed an agreement with Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) (FRA:ABR) that terminates the 2015 earn-in agreement between Thor and Acacia Mining PLC on the Central Hounde project in southwestern Burkina Faso. Following the signing of the agreement with Acacia (which Barrick has acquired), Thor said it has acquired Barrick’s 51% ownership of the project in exchange for a 1% net smelter royalty. Thor now holds 100% of the project.

Story by ProactiveInvestors