NA Proactive news snapshot: Silvercorp Metals, Global Energy Metals, HempFusion Wellness, Aurania Resources, Mirasol Resources...

Silvercorp Metals Inc (TSE:SVM) (NYSEAMERICAN:SVM) (FRA:S9Y), the China-focused miner, posted a 35% increase in net income in its fiscal year to end-March 2021, compared to the year-earlier period, on revenue, which was 21% higher. The company, whose flagship asset is the Ying project in the Henan province, which comprises six separate mines, recorded net income attributable to shareholders of US$46.4 million in the fiscal year, compared to US$34.3 million in fiscal year 2020. Revenue came in at US$192.1 million versus US$158.8 million for the previous year after the company sold around 6.3 million ounces of silver, 4,700 ounces of gold, 67.1 million pounds of lead, and 27.9 million pounds of zinc. That was an increase of 1%, 42%, 3%, and 10%, respectively, compared to fiscal 2020.

Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) (FRA:5GE1) has closed on the acquisition of a portfolio of battery metal projects in North America from DG Resource Management. The company said the acquisition is part of its ongoing efforts to assemble battery metals-rich projects in top-tier mining jurisdictions with exploration and development upside. The portfolio includes: the Monument Peak Copper-Silver-Gold project in Lemhi County, Idaho; the Chance Lake Nickel, Copper, Cobalt property in the Hollinger North Shore region of Quebec; and the Amiral Nickel, Copper, PGE property in the Grenville region of Quebec.

HempFusion Wellness Inc (TSE:CBD.U) (OTCQX:CBDHF) (FRA:8OO) has commended the filing of the proposed Hemp Access and Consumer Safety Act by three US Senators. The company, which offers premium probiotic supplements and products containing cannabidiol (CBD), said the bill aims to add hemp, hemp-derived cannabidiol, or a substance containing any other ingredient derived from hemp to the definition of dietary supplement according to the Federal Food, Drug, and Cosmetic Act and would remove certain restrictions that have blocked the emergence of legal consumable hemp products in the US. HempFusion said it is a longstanding member of the US Hemp Roundtable and is a “major advocate” for the bill.

Aurania Resources Ltd (CVE:ARU) (OTCMKTS:AUIAF) (FRA:20Q) reported that the follow-up of a high-grade boulder found in a stream has led to the discovery of silver-zinc mineralization in an outcrop over 2.7 kilometres (km) in the Tiria-Shimpia target area in the company’s Lost Cities – Cutucu Project in southeastern Ecuador. The Toronto-based mineral exploration company said that follow-up exploration, and channel sampling of the mineralized layers, where they are exposed at surface, is turning up “key information” on the distribution of grade on surface within the 15km trend along which, silver-zinc is located at Tiria-Shimpia. According to Aurania, the trend was recently extended to 22km after the discovery of a 7km long mineralized zone at Shimpia North. “Within the 2.7km mineralized zone, there is a 500-metre segment of high-grade material with silver up to 73 grams per tonne (g/t) and zinc up to 49%,” noted the company.

Mirasol Resources Ltd (CVE:MRZ) (OTCPK:MRZLF) announced it was issued 2,805,212 common shares of Silver Sands Resources Corp, representing 5% of the issued and outstanding share capital of Silver Sands on May 20, 2021. The shares were issued pursuant to the terms of a mineral option agreement dated May 20, 2020, as partial consideration for the grant by Mirasol of an option  to Silver Sands to acquire an undivided 100% interest in Mirasol’s Virginia Property, located in Santa Cruz province, Argentina. Following the issuance, Mirasol held an aggregate of 6,550,481 common shares of Silver Sands, representing approximately 11.1% of the issued common share capital of Silver Sands. On a fully diluted basis, Mirasol holds approximately 7.9% of the common share capital of Silver Sands. The option agreement provides for the issuance to Mirasol of 19.9% of the common share capital of Silver Sands in stages over a period of three years from the date of the option agreement, if the option is fully exercised by Silver Sands.

NexTech AR Solutions Corp (NEO:NTAR.NE) (OTCMKTS:NEXCF) (CSE:NTAR) is debuting a new board of directors and senior management team. The augmented reality (AR) company said that CFO Kashif Malik is resigning from his role to pursue a new opportunity and Eugen Winschel, NexTech’s COO, will assume the global finance leadership position on an interim basis. In addition, Vancouver-based NexTech announced several new senior management appointments, which it said was “designed to further align the continued development of the company’s AR portfolio and digital experience platform with its growing, global customer base.”

Royal Road Minerals Limited (CVE:RYR) (OTCMKTS:RRDMF) (FRA:RLU) has completed the sale to Hemco Nicaragua SA of its 50% interest in the Luna Roja Project that comprises the Monte Carmelo I and Monte Carmelo II mining concessions in Nicaragua. The project had previously been jointly owned and operated by the company and Hemco since 2017. Hemco is a subsidiary of Mineros SA. 

CytoDyn Inc (OTCQB:CYDY) has found its new CFO in-house, promoting Vice President, Corporate Controller, Antonio Migliarese, the company announced. Migliarese joined CytoDyn in January 2020, and he has held various senior financial leadership positions at both public and private companies since 2014, the company said. Prior to CytoDyn, his work included time as controller for Domaine Serene Winery and Vineyards Inc, corporate controller for Lightspeed Technologies Inc and CFO of Hollister & Blacksmith. All told, Migliarese has experience in strategic planning, financial planning, SEC reporting, internal controls, process improvement, IT, preparing companies to go public, treasury, debt, equity and M&A transactions, the company said. 

OTC Markets Group Inc (OTCQX:OTCM), operator of financial markets for 11,000 US and global securities announced that Nova Leap Health Corp (CVE:NLH) (OTCQX:NVLPF), an acquisitive home health care services company, has qualified to trade on the OTCQX Best Market, upgrading from the Pink market. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. “We are pleased to reach the milestone of trading on OTCQX, as this will make it easier for our US employees and investors to purchase shares in Nova Leap,” CEO Chris Dobbin said.

ESE Entertainment Inc (CVE:ESE) (OTCQB:ENTEF) said it has partnered with global research agency Kantar to develop market research and strategy in the esports and sim racing industries. 

Braxia Scientific Corp (CSE:BRAX) (OTC:BRAXF) (FRA:496), a developer of novel ketamine treatments for depression and related disorders, announced that its common shares, previously listed for trading on the OTC Market in the US under the ticker “SHRMF,” are now trading under the symbol “BRAXF,” effective May 21. The company’s Canadian Canadian Securities Exchange ticker remains “BRAX.” Earlier in May, the company changed its name to Braxia Scientific to reflect its commitment to providing access to, and leadership in ketamine treatment for depression through its network of clinics, as well as the its ketamine and psychedelic derivative research and drug development priorities.

WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) (FSE:4WE) announced it will file its financial statements and management’s discussion and analysis for the fourth quarter and fiscal year ended December 31, 2020, after market close on Friday May 28th, 2021. The company will host a conference call to discuss these results, and provide an operational update as well as recap of achievements from the first quarter of 2021 on Monday, May 31st, 2021 at 10 a.m. Eastern Time. The call will be hosted by CEO and Executive Chairman George Scorsis and newly appointed CFO Beth Carreon. Management will be available for questions following opening remarks.

Jack Nathan Medical Corp (CVE:JNH) (OTCQB: JNHMF) has terminated the employment of George Barakat as Chief Executive Officer. Barakat will continue to serve as a director. Neil Labatte has been appointed as Chairman of the Board of Directors. Mike Marchelletta, co-founder and president will assume the role of Interim Chief Executive Officer, effective immediately. The company is commencing a search process to identify a suitable successor to fill the role of CEO on a permanent basis.

Story by ProactiveInvestors