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NA Proactive news snapshot: Scottie Resources, Universal Ibogaine, Sassy Resources, TraceSafe, Lion Copper and Gold ...

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Scottie Resources Corp has announced drill assays from its Scottie Gold Mine (SGM) target in British Columbia, which included 11.8 grams per tonne (g/t) gold over 6.6 metres (m) and 37.2 g/t gold over 3.7m. The company said the past-producing Scottie Gold Mine is one of four primary targets that were tested during the 14,500m program in 2021, which also includes the rapidly-advancing Blueberry Zone.

Universal Ibogaine Inc (TSX-V:IBO) (UI) has introduced the expert partners, who will help the life sciences group in its bid to carry out a clinical trial in Canada for opioid use disorder. The firm is currently working with its contract research organization (CRO) partners to finalize the study’s design ahead of an expected pre-clinical trial application with Health Canada. ”Our engagement with Health Canada to date has clearly highlighted the road UI must take to provide practitioners and patients access to authorized ibogaine in Canada to treat opioid use disorder,” said Nick Karos, Universal Ibogaine’s CEO in a statement. ”The conduct of clinical trials is a very precise business requiring solid partnerships with the right expertise and players, and Universal Ibogaine is pleased that we have now secured these partnerships. We are confident that with our partners’ expertise, we will move towards our goal of conducting clinical trials with Health Canada,” he added.

Sassy Resources (CSE:SASY, OTCQB:SSYRF) Corporation has announced the discovery of multi-kilometer-long gold and copper-in-soil anomalies associated with a significant fold structure located in the southwest section of the 949 square kilometre (km) Mt. Peyton Project. The newly-named ‘Golden Horseshoe’ target has never been previously drilled or systematically explored and is interpreted to have a potential strike length of at least 20 km. In a statement, Ian Fraser, Sassy VP Exploration said: “We’ve opened up a very broad new area for potential new high-grade gold discoveries in the heart of the under-explored Central Newfoundland Gold Belt. Extensive soil work, never previously carried out at Mt. Peyton, has returned significant anomalies, especially considering the generally thicker tills at Mt. Peyton vs. our other early-stage discovery at Gander North. These soil anomalies at the Golden Horseshoe target closely correlate with very distinctive magnetic features. We will tighten up the grids as we vector toward a mineralizing source.”

TraceSafe Inc said the US Patent and Trademark Office has granted the company a patent for its novel Position Tracking System. The patented technology enables continuous tracking and monitoring of electronic tags by achieving extremely low power consumption — reinforcing the company’s expanding intellectual property (IP) portfolio that includes energy-efficient wearables for patient tracking. TraceSafe noted that conventional position tracking solutions require an elaborate and high-energy infrastructure for the deployment of wearables and other asset-tracking components that have to be frequently recharged. 

Lion Copper and Gold Corp (TSX-V:LEO, OTCQB:LCGMF), formerly Quaterra Resources Inc, has released an updated resource for its MacArthur copper project in Nevada, which showed a 55% increase in the higher confidence measured and indicated (M&I) category. The NI 43-101 compliant report, prepared by consultants IMC, pegged the M&I resource at over 1 billion pounds (1,000,383,000) of contained copper from 300.29 billion tons of material at a grade of 0.167%. A previous resource estimate had put the M&I figure at 676 million pounds of copper. “This substantial increase to the resource is a result of our recent drilling and an improved understanding of the MacArthur mineralization,” said Travis Naugle, Lion Copper and Gold CEO in a statement.

Numinus Wellness Inc said it has formally submitted the clinical trial application (CTA) to Health Canada for its Phase 1 study (HOPE) of its naturally derived psilocybe extract formulation NBIO-01. The company said this milestone further progresses and solidifies its long-standing work on developing safe and effective psychedelic products out of its Health Canada-licensed research facility, Numinus Bioscience. “This application significantly advances our product development pipeline, which is aimed at broadening access to safe and effective products for psychedelic-assisted therapies,” said Sharan Sidhu, science officer and general manager for Numinus Bioscience in a statement.

Star Royalties Ltd (TSX-V:STRR) said it has increased its gross revenue royalty on carbon offset credits from forested lands in Elizabeth Metis Settlement (EMS) in Alberta to 40.5%. The royalty is owned by Star’s “pure green” subsidiary Green Star Royalties, which will receive a share of revenue from the creation and sale of carbon offset credits. The royalty is now expected to generate annual revenues equivalent to approximately 9,000 carbon offset credits starting in 2023, expanding Toronto-based Star’s unique carbon credit portfolio.

Algernon Pharmaceuticals Inc said it has received positive feedback from the US Food and Drug Administration at its pre-Investigational New Drug (pre-IND) meeting for its investigation of NP-120, or Ifenprodil, for the treatment of chronic cough. Ifenprodil is an N-methyl-D-aspartate (NMDA) receptor antagonist specifically targeting the NMDA-type subunit 2B (GluN2B). The Vancouver-based company said that the FDA meeting produced helpful guidance on the Phase 2b protocol design that was submitted by the company as well as the endpoints that had been selected. The US federal agency also requested standard genotoxicity testing be completed prior to beginning the Phase 2b study, which the company estimates will take approximately 90 days to complete. “We are very pleased with the response we received from the US FDA,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals in a statement. “We look forward to the final data set from our IPF and chronic cough study so that we can plan our next steps.”

Hillcrest Energy Technologies (CSE:HEAT, OTCQB:HLRTF) Ltd said it has ended its license agreement with Oropass Ltd, as the energy company pivots to developing and commercializing its own intellectual property. Vancouver-based Hillcrest inked the agreement with Oropass in August 2020 to license technology related to “step change efficiency gains” for electric vehicles, wind turbines and other forms of sustainable technology. Hillcrest and Oropass were aiming to monetize the technology through an incorporated joint venture known as ALSET Innovations Inc.

Silvercorp Metals Inc (TSX:SVM, AMEX:SVM), the China-focused metals miner, reported fiscal third-quarter results that saw the company lift its gold, silver, lead, and zinc production levels quarter-over-quarter on the back of its flagship Ying Mining District projects in the Henan province of China. The Canadian mining company expects to release its 3Q fiscal 2022 unaudited financial results and provide an annual production guidance for the fiscal year ended March 31, 2023, on February 8, 2022, after the market closes. For the period ended December 31, 2021, the Canadian mining company reported that it increased production to roughly 1.8 million ounces of silver, 1,100 ounces of gold, 19 million pounds of lead, and 8 million pounds of zinc, representing an increase of 8%, 38%, 8%, and 7% respectively in all four metals, compared to fiscal 2Q ended September 30, 2021. 

Tocvan Ventures Corp has announced that its vice president of exploration, Brodie Sutherland, will replace co-founder Derek Wood as the company’s new president, CEO, and corporate secretary. Tocvan said the changes will better align with the technical and professional expertise required to advance the company’s precious metals projects towards development.

Cloud DX (TSX-V:CDX, OTCQB:CDXFF) Inc has updated the terms of a previously announced placing of convertible debenture units set to raise up to C$3 million to fund sales, marketing, research and development and general working capital. Echelon Wealth Partners Inc is acting as lead agent and sole book runner for the placing, which will see the issue of up to 3,000 convertible debenture units of the company, each comprising C$1,000 principal amount and 1,430 (previously 1,250) common share purchase warrants.  Echelon has also been granted an option to sell up to 450 additional convertible debenture units for maximum gross proceeds of C$3.45 million. The debentures will mature 36 months from issue and bear interest at a simple rate of 10% per year. Interest will be payable quarterly on the last business day of each quarter,  beginning on March 31, 2022. 

Naturally Splendid Enterprises Ltd said it has closed the second tranche of its previously announced non-brokered private placement financing by issuing 37,348,532 units at a price of $0.03 each for gross proceeds of $1,120,455.96. In total, the company has issued 109,032,378 units for gross proceeds of $3,270,971.34 under the entire private placement financing. The financing has been oversubscribed by $270,971.34. Each unit in the second tranche consists of one common share of Naturally Splendid and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share for a period of two years from the date of the issue at an exercise price of $0.05 per share. As previously announced, the proceeds of the financing will be directed primarily towards the purchase of new manufacturing equipment and facility upgrades to accommodate the manufacturing of plant-based entrees for the company’s 10-year exclusive manufacturing and distribution agreement with Flexitarian Foods Pty. Ltd., a division of Australia’s largest plant-based manufacturer.

Lifeist Wellness Inc has announced that its Cannabis 2.0 consumer-focused house brand Roilty has won the Canadian LP Brand of the Year award at the 2021 ADCANN Awards. The company said the annual industry awards, which are voted on by both industry peers and the public and saw over 100,000 votes cast nationwide, celebrate the best in marketing and advertising across Canada’s cannabis industry. The win comes only months after the initial launch by Lifeist’s wholly-owned subsidiary Cannmart Inc, and the launch of sister company CannMart Labs Inc that produces live resin products. The company said that this confirms the significant potential that it sees in both the brand and Labs. 

Logiq Inc, a provider of consumer acquisition solutions, has unveiled a sweeping restructuring of the company’s senior management team in order to better execute the company’s strategic goals focused on customer acquisition and “opportunistic” mergers and acquisitions (M&A). The New York-based technology company noted that the changes are “effective immediately” and Logiq co-founder and executive chairman Brent Suen has been appointed chief executive officer, a role he previously held for seven years from 2014-to-2020. He now succeeds Tom Furukawa. “Logiq has grown tremendously and rapidly evolved in just the past two years,” newly appointed CEO Suen said in a statement. “With the pending spin-off of our mobile commerce business AppLogiq, our acquisitions of Push, Fixel and Rebel firmly integrated with solid customer traction underway, our entry into data-driven digital marketing is complete and we have the platform to move forward on customer acquisition as well as opportunistic M&A.”

Argentina Lithium & Energy Corp (TSX-V:LIT, OTCQB:PNXLF) said it has retained Zoppa Media Group to act as an investor relations consultant to the company, to assist with corporate finance and investor relations programs. Zoppa has been engaged for a term of one year at a monthly fee of $1,500. Zoppa is at arm’s length to the Company. Principals of Zoppa currently own 456,000 shares of the company as of the current date and may purchase securities in the company from time to time for investment purposes. Zoppa’s appointment as an investor relations consultant to the company is subject to regulatory approval from the TSX Venture Exchange.

Numinus Wellness Inc has announced that its annual general meeting (AGM) of shareholders, which was originally scheduled to be held on Friday, January 21, 2022, has been cancelled and rescheduled to be held on February 28, 2022. The company said its board of directors determined that it would be in the best interests of the company to reschedule the AGM for a variety of reasons, including a change to at least one resolution. Further details on the AGM will be contained in a new Notice of Meeting and Management Information Circular that will be mailed to shareholders of the company and filed on SEDAR.

Empress Royalty Corp (TSX-V:EMPR, OTCQB:EMPYF) said the TSX Venture Exchange has accepted for filing the company’s proposal to issue 7.5 million bonus warrants to Nebari Natural Resources Credit Fund I LP in consideration of the loan in the amount of US$4.5 million. Each warrant is exercised into one common share at an exercise price of 27 cents for a period of two years. The loan has a term of 24 months with interest equal to the London interbank offered rate (LIBOR) or a comparable or successor rate that is approved by the lender plus 10% per annum, with a minimum LIBOR floor of 1%.

OTC Markets Group Inc, the operator of financial markets for over 11,000 US and global securities, has announced that Jervois Global Limited, a leading cobalt minerals, metals and chemicals company, has qualified to trade on the OTCQX Best Market and has today from the OTC Pink market. Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their US investors. 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.

Story by ProactiveInvestors


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