NA Proactive news snapshot: Atlas Engineered Products, Deep-South Resources, Nextech AR Solutions, AEX Gold …

Atlas Engineered Products Ltd (CVE:AEP) (OTCMKTS:APEUF) has provided an update on its net revenues for the first two months of the second quarter of 2021, noting that it has continued the strong momentum achieved in the first quarter of 2021 into the second quarter. The engineering company said revenues for the two months ended May 31 stood at C$8.9 million, a 12.6% increase from the full three months ended June 30, 2020, when it recorded revenues of C$7.9 million. AEP said revenue for the first two months of the quarter almost matched revenues of C$9.1 million reported for the full three months ended March 31, 2021, which was the company’s best first quarter to date. 

Deep-South Resources Inc. (CVE:DSM) said that further to its recent meeting with the Minister of Mines and Energy of Namibia and other Officials of the Ministry of Mines and Energy, it has received a notice from the Minister confirming that the company’s application for the renewal of its Exclusive Prospecting Licence 3140 has been refused. The company said it intends to vigorously contest this decision by all means necessary and available under the Minerals (Prospecting and Mining) Act and other applicable laws of Namibia. In its application for renewal and subsequent representations made to the Ministry, the company maintains that it clearly demonstrated having met all criteria under the Act to justify the renewal of its Licence. Deep South maintains that the Ministry was kept well apprised, with no objection on their part, of a proposed change from the Pre-Feasibility study to upgraded Preliminary Economic Assessment (PEA) and commencement of a full feasibility study. Moreover, the Ministry issued all permits required for the drilling program and are well aware that Deep-South has completed the drilling program, the company added. As a result of the Minister’s refusal to renew the Licence, the company said it has terminated all work on-site and has proceeded with the retrenchment of its employees on site.

Nextech AR Solutions Corp. (OTCQB:NEXCF) (NEO:NTAR) (CSE:NTAR) (FRA:N29) said it has closed the previously announced acquisition of Threedy.ai, Inc., a 3D artificial intelligence modeling for ecommerce company based in Silicon Valley, California. “I’m pleased to officially welcome Nima, Max and the Threedy team to Nextech,” commented Evan Gappelberg, founder and CEO of Nextech AR. “We look forward to completing the work already underway, to create a disruptive, fully integrated, AR/AI enabled and scalable 3D modeling platform for the benefit of our existing and new e-commerce customers.” Upon closing of the acquisition, Nextech AR issued 3,877,551 common shares in the capital of the company at an agreed value of US$2.45 per share (CA$3.01 per share), for total share consideration of US$9.5 million. The common shares will be subject to certain contractual restrictions on trading for a period of up to 23 months from the date of issuance.

AEX Gold Inc. (LON:AEXG) (CVE:AEX), an independent gold company with a portfolio of exploration licences in Greenland, has announced that Martin Ménard, its chief operating officer, is departing on June 30, 2021. The company said it will make an announcement on the composition of the operations team in due course. Eldur Olafsson, CEO of AEX, commented: “On behalf of the Board, I would like to thank Martin for his contribution to AEX. Martin has been an important part of the team and we wish him well with his future endeavours.”

Global Energy Metals Corporation (CVE:GEMC) (OTCPINK: GBLEF) (FRA:5GE1) said it has submitted its application to trade its shares on the OTC Venture Market (OTCQB) in the US. The company believes that trading on the OTCQB market will enhance liquidity, as well as increase the company’s visibility in the US capital markets. In a statement, Global Energy Metals CEO Mitchell Smith said: “This will be a timely milestone for the company as we continue to grow and develop a multi-jurisdictional US footprint for battery metals such as copper, cobalt and nickel.” 

Helix BioPharma Corp. (TSX:HBP) said it has appointed Marcum LLP as the company’s new auditor, replacing BDO Canada LLP.  The company also announced that it has received conditional approval from the Toronto Stock Exchange to extend the exercise period of a total of 4,830,175 outstanding common share purchase warrants, all of which are held by arm’s length parties, for a period of two years from their current expiry dates. The warrants were issued under private placements that closed between July 2014 and August 2016 and represent approximately 3.4% of the company’s issued and outstanding common shares. The warrants that are proposed to be extended and which were issued in July 2014 were previously extended for a two-year period in 2019.

Lithoquest Resources Inc (CVE:LDI) said the TSX Venture Exchange has accepted for filing documentation pertaining to a property option agreement dated May 5, 2021, between the company. and Landore Resources Canada Inc., whereby the company has been granted an option to acquire a 100% right, title and interest in certain mining claims situated in the Pickle Lake area – the Miminiska gold project and the Keezhik gold project located in Northwestern Ontario. Under the terms of the agreement, the company is required to make aggregate cash payments to the optionor of $25,000 upon the signing of the agreement; and $100,000 upon the acceptance of the agreement. Additionally, the company will make an aggregate cash payment of $1.25 million and a convertible cash payment that can either be made in cash or common shares of the company amounting to $2.65 million payable over a two-year period to earn the full 100-per-cent interest in the property. Landore will retain a 2.0% net smelter return royalty on the property, of which 50%t (a 1% royalty) is purchasable at any time by the company for $1 million.

Numinus Wellness Inc. (CVE:NUMI) said it has granted 1,825,000 incentive stock options to directors, officers and employees of the company, which are subject to regulatory approval. Of the 1,825,000 options granted during the month of May, 810,000 were issued to directors and an officer of Numinus, which have an exercise price of $0.90 per common share and are exercisable until May 19, 2023. The 1,015,000 options issued to employees have exercise prices ranging between $0.87 and $1.00 with expiry dates ranging from May 1, 2023, to May 17, 2023. The company’s Stock Option Plan allows for the issuance of up to 10% of issued and outstanding share capital in the form of incentive stock options. As a result of the above grants, the company has 8,931,500 options issued, representing approximately 4.42% of the issued and outstanding share capital.

Pacific Empire Minerals Corp (CVE:PEMC) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement announced April 22, 2021, which will see the issue of 21,109,231 shares at a purchase price of 6 cents per share, together with 21,109,231 share purchase warrants with an exercise price of 10 cents for a two-year period with 72 placees.

Fireweed Zinc Ltd (CVE:FWZ) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement announced April 22, 2021, which see the issue of 6.25 million shares at a purchase price of 80 cents per share with one placee.

Pathway Health Corp. (CVE:PHC) has announced that Wayne Cockburn, its president, and his team joined Dani Lipkin, director, Global Business Development, TMX Group, to celebrate the company’s new listing on TSX Venture Exchange and close the market on Thursday, June 23. 2021.

OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for 11,000 US. and global securities, has announced that Orogen Royalties Inc. (CVE:OGN) (OTCQX:OGNRF), a company focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America, has qualified to trade on the OTCQX Best Market and has today upgraded from the OTC Pink market. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the US. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. Paddy Nicol, Orogen’s president and CEO commented: “Orogen is proud to have met the qualifications for the OTCQX, the top tier of the OTC markets. Trading on the OTCQX enables the Company to enhance its visibility and liquidity with US investors. Orogen looks forward to an exciting future with our organically generated royalty and property assets in the US, Canada, and Mexico.”

Story by ProactiveInvestors