NA Proactive news snapshot: Enveric Biosciences, MagicMed Industries, Esports Entertainment Group, Dalrada Corporation …

Enveric Biosciences Inc. (NASDAQ:ENVB) said it has entered into a definitive agreement for an all-stock transaction to acquire MagicMed Industries Inc., a privately-held biotechnology company focused on creating a library of novel derivative psychedelic molecules such as psilocybin, N,N-dimethyltryptamine (DMT) and other molecular derivatives with applications across multiple indications. The company said the acquisition of MagicMed will expand and complement Enveric’s current pipeline of naturally occurring compounds, which is primarily focused on cannabinoids, to now include a robust portfolio of psychedelic-derived molecules. Once closing is complete, Magic Med CEO, Dr Joseph Tucker will be appointed chief executive officer of the enlarged company and David Johnson, chairman and CEO of Enveric, will be appointed executive chairman.

Esports Entertainment Group Inc (NASDAQ:GMBL) (FRA:40Y1) said subsidiary GMBL has been notified by the New Jersey Division of Gaming Enforcement (DGE) that its application has been formally accepted. In a statement, Esports said the agency’s acceptance will allow the company to submit its software to the DGE testing lab and apply for a Transactional Waiver. The company added that it expects to complete this process and be live taking bets in the state by the end of its fiscal first quarter.

Dalrada Corporation (OTCQB:DFCO) said that it has appointed well-known medical expert and US Navy Captain Dr David Bacon to the company’s board, as the group focuses on advancing Dalrada Health’s product lines. Dr Bacon is an active US Navy Captain with 22 years of service. During the coronavirus (COVID-19) pandemic, Dr Bacon was responsible for reviewing proposals for funding in the areas of therapeutics, diagnostics, and wearable monitors. He reviewed more than 400 proposals and provided his expert opinion on the scientific rationale and study design, said the company. The senior US officer has been working on infectious disease research for more than two decades. After graduate school, he started a post-doctoral fellowship in the Enteric Disease Department at the Naval Medical Research Center (NMRC), in Silver Spring and was commissioned as a lieutenant in 1999.

BioLargo Inc (OTCQB:BLGO) reports that it has eliminated nearly all of its convertible debt to strengthen its balance sheet. The company paid off $406,000 in convertible debt that would have come due in August 2021, through cash and equity.  Other than the debt owed by its partially-owned subsidiary Clyra Medical Technologies Inc, BioLargo said only Small Business Association and Paycheck Protection Program (PPP) loans totaling $464,000 ($314,000 of which, has been applied for forgiveness) and $50,000 of fixed-price convertible debt (due in 2023) remain on the company’s balance sheet. 

INDVR Brands Inc. (CSE:IDVR) has announced that Darcy Campbell has resigned as its CFO due to personal reasons. Campbell has agreed to work under a contract basis in the interim until his successor is found. The company thanked Campbell for his hard work and dedication while with INDVR. The company also said it has extended the exercise period of a total of 5,800,558 share purchase warrants, all of which are exercisable at $0.25 per share. The warrants were issued in connection with a pre-RTO capital raise in October 2018. The new expiry date for the warrants has been extended by one year, and accordingly, the new expiry date will be April 17, 2022. All other terms and conditions of the Warrants will remain unchanged. The warrant extension is subject to the approval of the CSE. And the company has also issued 1,000,000 Class B shares as partial settlement on an outstanding lawsuit claim to an arm’s length party. The shares issued on this settlement will be restricted from trading for up to 24 months from the date of issue.

GlobeX Data Ltd. (OTCQB:SWISF) (CSE:SWIS) (FRA:GDT) said that, as part of its US national roll-out of its Sekur privacy and security communications platform, the company was featured on Newsmax TV on the New to the Street segment of Newsmax TV on Sunday May 23, 2021, at 10.00am Eastern Standard Time. The segment can be seen on the following weblink for all internet viewers: https://www.newsmaxtv.com/. The segment can also be found at: https://newtothestreet.com/new-to-the-street-tv

Tocvan Ventures Corp (CNSX:TOC) (FRA:TV3)  has noted that Derek Wood, its president has been interview by Ellis Martin. The company has two projects under development: the Pilar Gold Project in the gold-producing Sonora Region of Mexico, and the Rogers Creek Property in the Lillooet Mining District of Southwestern British Columbia. Tocvan has just received an additional permit for trenching and drilling at the Pilar Gold Project. To listen to the interview, investors can use the following link: https://www.abnnewswire.net/press/en/105483/tocvan

Falcon Gold Corp (CVE:FG) said its board of directors, in compliance with the company’s stock option plan, has granted 500,000 incentive stock options exercisable for up to three years at a price of 12 cents a unit to consultants of the company.

Kwesst Micro Systems Inc (CVE:KWE) said the TSX Venture Exchange has accepted for filing documentation with respect to its brokered private placement announced April 6, 2021, and April 9, 2021, which will see the issue of 3,536,057 common shares at a purchase price of $1.25 per share, together with 3,536,057 share purchase warrants with an exercise price of $1.75 for a two-year period with 86 placees.

Story by ProactiveInvestors