NA Proactive news snapshot: Cypress Development Corp., Wellteq Digital Health, Algernon Pharmaceuticals, Golden Tag Resources, Else Nutrition ...

Cypress Development Corp said it has finished the assembly of the pilot plant at the company’s Clayton Valley lithium project in Nevada. The new pilot plant is located inside a metallurgical facility approximately 100 miles south of the project. Cypress began purchasing items for the pilot plant in March and work progressed through the summer. Having completed the assembly and operational testing of component equipment, the company plans to commence test extraction of lithium from sample material next week.

Wellteq Digital Health Inc. has announced a three-year contract extension with its largest client, Australia-based nib health funds. In a statement, Wellteq said nib is Australia’s fourth-largest private health insurer and provides private health insurance coverage to over 1.2 million policyholders. In line with the health insurer’s Payer to Partner journey, Wellteq added that nib is focused on providing greater access to personalized treatment and care for its members as it moves away from being a traditional payer of claims and towards its ambition of becoming a health partner.

Algernon Pharmaceuticals Inc said it has filed a scientific advice meeting request with the UK Medicines and Healthcare Products Regulatory Agency (MHRA) for a Phase 1/2a stroke study with its DMT-based drug candidate, AP-188. The company said the MHRA encourages companies to seek scientific advice before beginning clinical trials in the UK. These meetings are similar to the Pre-Investigational New Drug Application (Pre-IND) meetings offered by the US Food and Drug Administration. DMT, or N,N-dimethyltryptamine, is a known psychedelic compound that is part of the tryptamine family. Through the MHRA process, the company said it will confirm that its chemistry, manufacturing and controls information, pre-clinical data, and Phase 1/2a clinical plans are appropriate for submission of a Clinical Trial Authorisation (CTA) application for a study with DMT in the UK, which is planned for the fourth quarter of this year.

Golden Tag Resources Ltd said the 2021 exploration program on its 100% owned San Diego project in Mexico has been expanded to include an additional 4,500 metres (m) of diamond drilling. The company noted that the expanded exploration program is a follow up to the 4,716m of diamond drilling that has already been completed and reported in 2021. “The expanded drill program will follow up on some of the tremendous successes our team accomplished during the first phase of 2021 drilling, the first drill campaign on the property since 2012,” Golden Tag Resources CEO Greg McKenzie said in a statement.

Else Nutrition Holdings Inc. announced that it has successfully completed the first commercial trial run of its patented, plant-based Infant Formula for age 0-12 months as the company continues its path towards regulatory approval. The trial run, which took place this week in the US, leveraged a global, first-of-its kind technological development with one of the raw ingredients in the plant-based formulation. “The patented processing method results in a cleaner ingredient, while keeping the nutritional value fully intact,” noted the company. “This successful trial is a major step for the company, as we move forward to provide real choice when it comes to dairy-free infant formula,” Else Nutrition co-founder and CEO Hamutal Yitzhak said in a statement.

Silvercorp Metals Inc has reported positive exploration results from its DCG mine in Henan Province, China, which has extended a known gold vein and uncovered new vein structures. The DCG mine is one of the firm’s six mines, which make up its flagship Ying project, where 207 diamond drill holes were sunk between March 2020 and September 30, 2021. Assays for 164 holes at DCG have been received, with 110 holes hitting mineralization. Among the highlights of the work was the extension of the C9 gold vein, which strikes north-northwest, and where only two holes historically have hit the vein.

Valeo Pharma Inc said it has been awarded multi-year listing agreements by two of Canada’s largest Group Purchasing Organizations (GPO) for its anticoagulant drug Redesca as well as three additional hospital specialty products. Under the terms of the contracts, the GPOs have listed Redesca and Redesca HP, Valeo’s leading low molecular weight heparin (LMWH) biosimilar, as well as Amikacin, Ethacrynate Sodium and Benztropine, for three years starting on October 1, 2021. “These listing agreements significantly expand the number of Canadian hospitals that can now access Redesca. Increased hospital accessibility, coupled with extensive public and private reimbursement coverage, provides a solid foundation to support the continued growth of Redesca,” Valeo CEO Steve Saviuk said in a statement. “The Canadian hospital market is highly sought-after and competitive, our commercial team continues to deliver results in this environment.”

Vicinity Motor Corp. has announced a strategic agreement with Electrovaya Inc. to supply lithium battery systems for its Vicinity Lightning EV buses and fully electric VMC 1200 Class 3 trucks. The company said Electrovaya is a pioneer in global energy transformation, focused on contributing to the prevention of climate change by supplying the safest and longest-lasting lithium-ion batteries in the marketplace. The agreement provides it with battery systems that utilize the latest Electrovaya NMC ceramic lithium-ion battery technologies and supports full integration within its line of vehicles, it added. “Our decision to collaborate with Electrovaya as a strategic supplier followed rigorous engineering and due diligence activities,” Vicinity CEO and founder William Trainer said in a statement. 

HighGold Mining Inc told investors it had hit high gold grades with an infill hole at its JT polymetallic gold project, underscoring the potential of the Alaska asset. The drill hole was sunk with two goals in mind. Firstly, to collect material to support a Phase I metallurgical testing program and to better define the deeper, higher-grade portion of the JT deposit. The JT deposit already hosts a high-grade indicated resource of 2.14 million tonnes (Mt) grading 10.93 grams per ton (g/t) of gold equivalent. Highlights assays from the hole included 18.69 g/t gold, 2.43% zinc, 0.47% copper over an intercept of 56.6 meters (m) starting from a depth of 236.7m, which included a length at 32.9m (starting from 260.4m), grading 31.69 g/t gold, 1.82% zinc, 0.58% copper.

BioHarvest Sciences Inc. has raised its forecast of 2021 annual sales orders for VINIA in Israel, saying the continued adoption of VINIA in Israel demonstrates the health benefits and efficacy of the product. The company has increased its 2021 sales orders forecast for Israel to US$1.6 million-US$1.7 million from the previous forecast of US$1.3 million-US$1.5 million announced in March 2021. BioHarvest said the high percentage of revenue from returning customers validates their loyalty to the product, while the combination of increased transactions and the increased value of each order is fueling revenue growth.

Hawkmoon Resources Corp. said it has received additional assay results for eight drill holes from the 5,031-metre (m) summer drill program on its Wilson Gold project, which is roughly 15 kilometres (km) east of the town of Lebel-sur-Quévillon, in Québec. The Vancouver, British Columbia-based company said the highest gold values it intersected were 30.9 grams per tonne (g/t) in Hole HMW 21-08 and 22.70 g/t in Hole HMW 21-13. The company said it is waiting for the metallic sieve fraction for one sample in each of Holes HMW 21-08 and HMW 21-13. This may or may not adjust the two highest grade gold intercepts, as coarse gold can be present in the general area, noted the company.

PlantX Life Inc has said it will be hosting an event on October 14, 2021, to kick off the official grand opening of the company’s bricks-and-mortar XMarket store in Squamish, British Columbia. The company noted that the grand opening aims to officially welcome the Squamish community to its store, boost awareness of the Squamish XMarket brand, as well as catalyze community engagement and foster new partnerships with local plant-based brands. “By organizing a plant-based barbecue to celebrate our XMarket Squamish location, we hope to bring plant-based value to life in a highly interactive way, and help our community experience the fun and delicious benefits of what plant-based lifestyle can offer,” PlantX Life CEO Lorne Rapkin said in a statement.

Tartisan Nickel Corp has posted encouraging results from its ongoing 10,000 metre (m) diamond drill at its Kenbridge nickel project in Ontario, which is designed to target the down dip and along strike extension of the Kenbridge nickel-copper deposit. In June this year, the company reported an updated resource for the project, underscoring the potential to expand the resource at depth. The highlight from the latest drilling was in one hole, which hit two nickel-copper zones at a depth of 663 meters (m) and 693.7m. These two zones are interpreted to be the downdip extension of the two horizons known as ‘Zone A’ and ‘Zone B’, which were intersected in two previous holes.

Nextech AR Solutions Corp. has announced the launch of its “mini-metaverse” at Harmony at London Wall Place in London. The company said the City of London Metaverse is powered by its ARway spatial mapping technology and software development kit (SDK). Harmony at London Wall Place has been co-commissioned by Culture Mile and Brookfield Properties. It incorporates a series of location-anchored augmented reality artworks, bringing London to life with visuals and music from Guildhall School of Music & Drama and London Symphony Orchestra. In August 2021, Nextech announced its acquisition of ARway, a leader in spatial computer mapping. By combining spatial mapping with artificial intelligence (AI) to scan and recognize surroundings, Nextech’s customers can now create a hyper-accurate, location-based 3D mapping, critical to wayfinding and building the Metaverse.

Information Services Corporation said it has appointed Shawn Peters, currently executive vice president and CFO, as president and CEO of the company effective February 1, 2022. Peters will take over from Jeff Stusek, who has decided to step down for personal reasons after 13 years at the information technology firm. Additionally, Stusek will be available to ISC in an advisory capacity to ensure a smooth transition. “On behalf of the board, I would like to thank Jeff for his steadfast commitment, as well as recognize the significant contribution he has made during his time with the company,” Joel Teal, chair of ISC’s board of directors, said in a statement.

FOBI AI Inc., a provider of real-time data analytics through artificial intelligence, has announced the receipt of TSX Venture Exchange approval and the completion on October 13, 2021, of the acquisition of online coupon and advertising platform Qples Inc. The deal gives the Vancouver-based technology company control over a connected retail commerce solution that has relationships to some major consumer packaged goods brands. Qples’ technology will be integrated into FOBI’s connected retail commerce solutions and the Fobi Data Exchange. The business is cash flow positive and expected to generate around US$1 million in 2021 revenue, and on track to hit $2 million in 2022.

Psyence Group Inc has announced that its shares will start trading on the OTCQB Venture Market exchange in the US starting October 13, 2021, under the symbol PSYGF. In addition, the Toronto-based firm said it has applied for Depository Trust Company (DTC) eligibility to simplify the trading process in the US. “We are incredibly excited with this milestone in our company’s trajectory,” Psyence CEO Neil Maresky said in a statement.

Love Pharma Inc. has announced that its common shares have been accepted for listing on the Frankfurt Stock Exchange (FSE) under the trading symbol G1Q0. In a statement, Love Pharma CEO and director, Zachary Stadnyk, said: “We’re excited to have quickly obtained our Frankfurt listing very soon after our initial listing in Canada on the CSE. Becoming listed on the Frankfurt Stock Exchange is an important milestone for the Company and one we have been focused on achieving; this will provide investors with immediate access to trading in the Company’s common shares.”

Silver Range Resources Ltd. said it has issued shares to Paladin Geoscience Corp. a private company controlled by Michael A. Power, Silver Range’s president and chief executive officer under ‘Shares for Services Agreements’. The company has issued 72,147 shares for the period October 1, 2020, to March 31, 2021, which shares were subject to a hold period that expired on October 1, 2021; and 223,136 shares for the period April 1, 2021, to September 30, 2021, which shares are subject to a hold period which expires on February 13, 2022. The shares were issued in partial consideration for geological and other consulting services provided to Silver Range by Paladin during the above-mentioned periods. The shares were issued at a deemed price per share equal to the market price of Silver Range’s shares as traded on the TSX Venture Exchange as calculated at the end of each month in which such services were provided, minus 50% of the discount permitted under applicable Exchange policies. All consulting fees not paid for by the issuance of Silver Range shares are paid in cash.

Belmont Resources Inc. has reported that under the company’s early Warrant Exercise Incentive Program, as announced on September 10, 2021, certain warrant holders have exercised a total of 2,600,000 (amended from 2,100,000) warrants for total gross proceeds to the company of $130,000.  The company said it will issue 2,600,000 common shares through the exercise of the original warrants and issue  2,600,000 incentive warrants.  Each incentive warrant entitles the holder to acquire an additional common share of the company at a price of $0.10 per share until October 12, 2022.  The incentive warrants and any shares issued upon exercise of the incentive warrants are subject to a hold period expiring four months plus one day from issuance.  Funds raised will primarily be used for working capital and exploration on properties. The balance of the 3,180,500 warrants (amended from 3,680,500) that were not exercised under the incentive program will remain outstanding and continue to be exercisable for common shares of the company at a price of $0.05 per share until the original expiry dates of April 29, 2022, and May 7, 2022. The company will now apply to the TSX Venture Exchange for final acceptance to close the Incentive Program and issue the securities.

Mednow Inc said the TSX Venture Exchange has accepted for filing a share purchase agreement dated September 21, 2021, between Mednow, Amir Ali Reyhany-Bozorg, Karim Nassar and Felipe Campusano, whereby the company proposes to acquire all of the issued and outstanding shares of Mednow Pharmacy for an aggregate purchase price of $74,209. The transaction is a non-arm’s-length transaction.

District Metals Corp said the TSX Venture Exchange has accepted for expedited filing a purchase agreement dated July 28, 2021, between District Metals and Explora Mineral AB, whereby the company will acquire 100% of the right, title and interest in and to the mineral licences comprising the Gruvberget property, located in Bergslagen district of Sweden. Under the terms of the agreement, the aggregate $740,000 purchase price will be satisfied via: (i) cash consideration of $20,000; (ii) issuance of one million common shares of the company to the vendor at a deemed price of 22 cents; and (iii) incur $500,000 in aggregate exploration expenditures on the project by April 30, 2023. The seller will retain a 2.5% net smelter return (NSR) royalty on the project subject to an option to repurchase the entire 2.5% royalty for a cash consideration of $8 million at any time.

Anacortes Mining Corp. said it has entered into an Investor Relations Agreement with Kin Communications Inc. and engaged Independent Trading Group as market-maker. Under the terms of the Investor Relations Agreement with Kin, which is dated October 12, 2021, Kin has agreed to assist Anacortes with investor relations, including communicating with and marketing to potential investors, shareholders and media contacts for a period of twelve months and on a month-to-month basis thereafter. Kin is owned by president & CEO Arlen Hansen and has no direct relationship with the company, aside from Kin and its principals own 366,666 shares of the company. Under the terms of the agreement, Anacortes has engaged ITG for an initial term of three months, and thereafter on a month-to-month basis. The engagement of ITG remains subject to the approval of the TSX Venture Exchange. In addition, effective October 12, 2021, Anacortes said it has granted options to purchase an aggregate of 600,000 common shares in its capital to three of its independent directors, 300,000 options to its chief executive officer, 250,000 options to its chief financial officer, 250,000 options to the president of its Peruvian subsidiary, and 250,000 to a consultant advisor to the board. All of these options vest immediately and entitle the holder to purchase one common share of the company at an exercise price of C$2.40 per share for a period of five years from the date of grant.

FSD Pharma Inc. has announced that Anthony Durkacz, the company’s interim CEO, and Dr Lakshmi P. Kotra, CEO of FSD’s wholly-owned subsidiary Lucid Psycheceuticals, will participate in the KCSA Psychedelics Investor Conference to be held at VirtualInvestorConferences.com on October 13-14, 2021. It noted that Durkacz and Dr Kotra will present live on Wednesday, October 13, 2021, at 2.30pm ET. Investors can register for the event by using the following link: https://www.virtualinvestorconferences.com/events/event-details/psychedelics-virtual-investor-conference?utm_source=Participating+Company&utm_medium=Press+Release&utm_campaign=octpsychVIC&utm_id=octpsychVIC. For more information about the conference, or to schedule a one-on-one meeting with FSD’s management team, investors can contact KCSA Strategic Communications at [email protected]

Harbor Custom Development, Inc. has announced that its president and CEO, Sterling Griffin, will present Harbor’s corporate overview and business objectives at the 14th annual LD Micro Main Event on October 14, 2021, at 7.30am Pacific Time (10.30am Eastern Time) This year’s Main Event will take place in person on October 12-14, 2021, at the Luxe Sunset Bel Air. Registration is mandatory for conference participation and can do undertake via the following link: https://me21.mysequire.com/. To schedule a one-on-one meeting with Griffin after the event, investors can contact: [email protected]

Story by ProactiveInvestors