NA Proactive news snapshot: VanadiumCorp Resource, NEO Battery Materials, Heritage Cannabis Holdings, Loncor Gold, Spotlite360 Technologies UPDATE...

VanadiumCorp Resource Inc (TSX-V:VRB) has filed its 2020 year-end financial statements showing the firm managed to narrow its loss by a significant margin as it progresses its clean technology initiatives. The Vancouver-based company posted a net loss of around $672,000 for FY2020, compared to the $1.4 million it posted in the same 12-month period a year prior.

NEO Battery Materials Ltd has announced that the first prototype of silicon (Si) anode active materials has been successfully produced. In addition, the company said samples have been sent to non-disclosure agreement (NDA) partners for full cell evaluation and electrochemical characterization. “The first working set of NEO’s proprietary silicon anode materials has been manufactured through our unique process,” said NEO CEO Spencer Huh in a statement. “Our prototype will be utilized by third-party partners for evaluating the performance and efficacy of NEO’s Si anodes in each respective party’s cell system and environment. NEO will complete due diligence during and after testing to refine and strengthen the prototype for commercialization.”

Heritage Cannabis Holdings Corp. (CSE:CANN, OTCQX:HERTF) reported its unaudited sales for July hit a monthly record of $3.2 million, marking the fifth monthly sales record in 2021. The Toronto-based vertically integrated cannabis company said the record sales figures reflect its growing market share after it introduced innovative products and expanded distribution channels.  As sales momentum builds, the company said it remains focused on increasing margins and containing costs. Gross margins for July also achieved a monthly record, while selling, general and administrative (SGA) expenses continued to decline from the level reported in the second quarter. Heritage also updated investors on its proposed acquisition of California-based Bloom Brands, which was announced on June 1, saying a due diligence is continuing.

Loncor Gold Inc has revealed further significant assay results from a drilling program on its 84.68%-owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. The Canadian gold exploration company reported that the deepest borehole drilled to date at its flagship Adumbi deposit, LADD016, intersected 25.59 metres grading 2.39 grammes per tonne (g/t) gold, including 6.09 metres grading 4.78 g/t Au, and 8.09 metres grading 1.90 g/t Au. Lancor said borehole LADD016 had an inclination of minus 75 degrees and azimuth of 218 degrees at the start of the hole and regular measurements of inclination and azimuth were taken at 30-metre intervals down the hole. All core was orientated, and it is estimated that the true widths of the mineralised sections are approximately 71% of the intersected width. All intercepted grades are uncut with maximum internal dilution equal to or less than 4 metres of intersected width, said the company.

Spotlite360 Technologies (CSE:LITE) Inc. announced that its name will change to SpotLite IOT Solutions Inc. from the start of trade on Tuesday, August 24 to better reflect the company’s capabilities. The Vancouver-based technology company said its shares will continue to trade under the ticker “LITE” on the Canadian Securities Exchange and no action is required to be taken by shareholders with respect to the name change, which follows a resolution by its board of directors. “The capabilities of IoT (Internet of Things) technologies are a very important part of what we offer to our clients in their supply chains because of the visibility they provide into the events and circumstances that can materially affect their bottom line,” Spotlite president James Greenwell said in a statement. “As such, we have sought to make this a more prominent element of our corporate identity with our updated name,” he added.

Fireweed Zinc Ltd (TSX-V:FWZ) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement announced July 2, 2021, which will see the issue of 5,003,808 flow-through shares at a purchase price of 90 cents per flow-through share with 24 places.

Aurania Resources Ltd (TSX-V:ARU, OTCQB:AUIAF) said the TSX Venture Exchange has consented to the extension in the expiry date of 1,043,567 warrants (of which 236,994 were issued in the first tranche, 671,622 were issued in the second tranche and 134,951 were issued in the third tranche) with an original expiry date of Augugust 28, 2021, for tranche 1 warrants, September 5, 2021, for tranche 2 warrants and September 13, 2021, for tranche 3 warrants and an original exercise price of $4.25. The new expiry date i :March 13, 2022, for all the warrants with a new exercise price of $3.40 for all the warrants. The warrants were issued under a private placement, including a total of 2,087,139 common shares and 1,043,567 warrants, which was accepted for filing by the exchange, effective on July 23, 2020.

DRDGOLD Ltd (NYSE:DRD, JSE:DRD, FRA:DUB1). said that Toko Mnyango, an independent non-executive director of the company, has been appointed as a member of the nominations committee with effect from August 19, 2021.

OTC Markets Group Inc said that NewLake Capital Partners Inc, a leading provider of real estate capital to state-licensed cannabis operators, has qualified to trade on the OTCQX Best Market. NewLake Capital Partners begins trading on Friday on the OTCQX under the symbol “NLCP.” Trading on the OTCQX Market offers companies efficient, cost-effective access to the US capital markets. To qualify for the OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. The OTC Markets Group operates the OTCQX Best Market, the OTCQB Venture Market and the Pink Open Market for 11,000 US and global securities.

Story by ProactiveInvestors