MGX Minerals Inc (CSE:XMG) (OTCPINK:MGXMF) has struck an agreement with Dykes Geologic Systems Inc for over 1,000 digital data files and drawings covering the Heino-Money gold deposit and Tillicum Claims in British Columbia. The company said the trove includes excel spreadsheets of all the data, drill holes, assays, surveys, underground workings and assays, trenches, topography, geology and 3D model, as well as sections and plans through the deposit and original scans of documents. MGX Minerals said it will pay C$42,500 to the vendor — $7,500 in cash and 500,000 shares at C$0.07 apiece. The company earlier this month acquired the properties in the West Kootenay region of the province in a C$5 million cash-and-share deal.
OTC Markets Group Inc (OTCQX:OTCM) posted first-quarter results late Wednesday that saw revenue rise 8% versus the prior-year period on the back of strong growth in both their trading business and market data business. For the quarter ended March 31, 2020, OTC Markets Group reported revenue of $16.6 million, compared to $15.4 million in the first quarter of 2019. The company reported a 9% increase in net income to $3.9 million for the quarter, and a 7% increase in diluted earnings per share on a GAAP basis to $0.32.
Seelos Therapeutics Inc (NASDAQ:SEEL) announced Friday that its drug SLS-005 (trehalose) has been granted a Rare Pediatric Disease Designation (RPDD) for the treatment of Sanfilippo syndrome by the US Food and Drug Administration (FDA). RPDD is an incentive program created under the Federal Food, Drug and Cosmetic Act and is meant to encourage the development of new therapies to prevent and treat rare pediatric diseases, the company said. The FDA will award priority review vouchers to sponsors of drug candidates that meet those criteria, which allows a company to obtain priority review without having met the application requirements.
Orgenesis Inc (NASDAQ:ORGS) has unveiled plans to repurchase up to $10 million of its own stock from time to time on the open market or in privately negotiated block transactions. The cell and gene therapies group said the repurchase plan, which will commence on May 29, will be funded through its existing working capital, adding that as of March 31 it had cash on hand of approximately $107 million The timing and amount of any shares repurchased will be subject to management discretion, Orgenesis said, and it will depend upon a variety of factors including general and business market conditions, corporate and regulatory requirements, share price, and alternative investment opportunities. Any repurchased shares will be retired and returned to the company’s treasury.
Q BioMed Inc (OTCQB:QBIO) has launched a marketing campaign for its non-opioid cancer bone pain drug Strontium89. The company has created a product website at Strontium89.com to support the full-scale digital marketing program designed to reach both US healthcare professionals and patients. Citing a pivotal trial, Q BioMed said as many as 79% of patients had pain relief with Strontium89, and twice as many patients treated with Strontium89 had no pain for 3 months compared with placebo. The marketing campaign is focused on driving awareness of Strontium 89 availability, product benefits and safety profile, appropriate patient populations, and on providing support for ordering and administering treatment.
Internet of Things Inc (CVE:ITT) (OTCMKTS:INOTF) is seeing increasing interest in its newly developed fever-detection system ThermalPass as businesses and governments prepare for life after the pandemic lockdown, the company revealed Friday. The AI- and IoT- focused firm is continuing discussions with large property management companies, nationwide retail chains and various levels of government on deploying ThermalPass, the group said in a statement.The system is unique against other fever detecting devices, said the company, as it uses medical-grade sensors, not cameras. Infrared cameras are less accurate, more expensive, obtrusive to personal space and infringe on privacy, said ITT.
Group Eleven Resources Corp (CVE:ZNG) (OTCMKTS:GRLVF) announced Friday that it has entered into a subscription agreement with Glencore Canada Corporation on a private placement which will occur in two tranches. Group Eleven is a mineral exploration company focused on zinc exploration in Ireland. The company’s key project in Ireland is a 76.56% interest in the Stonepark project, a joint venture with Arkle Resources PLC (LON:ARK) and a 100% interest in the adjacent PG West Project, located near Limerick, next to the Pallas Green zinc project, which hosts one of the world’s largest undeveloped zinc deposits. Glencore is the owner of the Pallas Green project which hosts a deposit with an estimated mineral resource of 45.4 million tonnes of 7% zinc and 1% lead in the inferred category.
Duos Technologies Group Inc (NASDAQ:DUOT) reported first quarter results on Friday, the intelligent security technology company’s first quarterly report since listing on the Nasdaq in February. “We began the year with significant operational momentum and in one of the strongest positions in company history,” CEO Gianni Arcaini said in a statement. “Unfortunately, like many businesses, we were not immune to the effects of the ongoing global pandemic, which caused business disruptions for most of our key customers and consequently impacted our operations during the first quarter.” Despite the coronavirus hurdle, Duos has increased its cash on hand year-over-year to $6.6 million from $56,000 at the end of 2019. Earlier this year the company underwent a public offering worth $9.25 million.
The Valens Company (CVE:VLNS) (OTCQX:VLNCF) has unveiled a landmark agreement, which sees it access Australia’s potentially huge and fast-growing cannabis market. The cannabinoid-product focused group has inked a distribution deal with Cannvalate Pty Ltd, the country’s largest medicinal cannabis distributor and clinical research organization, which is said to have a near 50% market share of all cannabis prescriptions in Australia. Valens said it was targeting initial revenue from the deal as early as the third quarter of 2020 from shipping a range of products from its Canadian facility to Australia.
Bragg Gaming Group Inc (CVE:BRAG) (OTCMKTS:BRGGF) has posted full-year 2019 results that saw its revenue jump 41% year-over-year driven by its business-to-business (B2B) platform, Oryx Hub aggregator and significant new client wins. The Toronto-based gaming group said that 2019 total revenue was €26.6 million (2018:C$40.57 million) and a gross profit of €12.0 million (2018:C$18.30 million). The 2018 numbers were stated on a pro forma basis as if Oryx was owned by Bragg for the entirety of that year. In a statement accompanying the numbers, Bragg Gaming CEO Dominic Mansour said: “2019 was Bragg’s first full year of operations, and we’ve taken significant strides to establish ourselves as one of the fastest-growing B2B providers in the gaming space. We experienced record revenue growth throughout 2019 and reached positive EBITDA in the fourth quarter.”
Maverix Metals Inc (TSE:MMX) (NYSEAMERICAN:MMX), the royalty and streaming group with a portfolio of over 100 assets, has reported a strong first-quarter performance and declared a dividend for the three month period, which will be paid in July. “Despite global challenges due to COVID-19, Maverix had a strong start to the year, increasing our revenue and operating cash flow significantly by 64% and 128%, respectively, compared to Q1 2019,” noted CEO Dan O’Flaherty in the result statement. “Our results demonstrate the strength of the diversified portfolio that we have established.” The company is now reporting in US dollars, rather than Canadian, and said net income was US$860,000 in the three months to end-March, 2020, versus US$1.1 million in the same period last year, on revenue of US$9.2 million, compared to US$5.6 million in 1Q, 2019. Of that total revenue, royalty revenue came in at US$6million versus US$4.1 million a year ago.
CytoDyn Inc (OTCQB:CYDY) announced Friday that its diagnostic partner is now offering comprehensive cytokine profiling tests to help physicians better understand Childhood Inflammatory Disease, a condition associated with the coronavirus (COVID-19). The disease resembles a rare childhood illness called Kawasaki disease, which has similar signs and symptoms and can lead to enlargement of blood vessels. The New York State Department of Health is investigating 110 reported cases and 3 deaths in children experiencing symptoms similar to Kawasaki disease and toxic shock-like syndrome, possibly due to the virus, the company said.
Empower Clinics Inc (CSE:CBDT) (OTCQB:EPWCF) (FSE:8EC) and EuroLife Brands (CSE:EURO) (FSE:3CMA) (OTCPINK:EURPF) have signed a deal granting the former an exclusive license to the latter’s cloud-based educational platform, Cannvas.me. Launched in 2018, Cannvas.me is aimed at both medicinal and recreational cannabis customers and will be used by Empower to deliver brand, product, and industry knowledge to employees and over 165,000 patients across its six corporate clinics in Arizona, Oregon, its first franchise in Oklahoma and nationwide tele-health platform. Under the terms of the deal, Empower has an exclusive license of the Cannvas.me platform in the US and Mexico with an option to expand to other jurisdictions.
AgraFlora Organics International Inc (CSE:AGRA) (OTCPINK:AGFAF) announced Friday that its subsidiary The Edibles and Infusions Corporation (EIC) has completed construction on its Winnipeg manufacturing facility, clearing a path towards cannabis production. The company said it plans to submit a processing license application to Health Canada before the end of the month. The 51,000 square foot automated edibles manufacturing centre is designed to be one of the most technologically-advanced and efficient cannabis facilities in Canada, according to EIC’s operational manager James Fletcher.
Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) said it is seeking ethics approval in Australia for its planned multinational Phase 2b/3 study of its re-purposed drug Ifenprodil for coronavirus (COVID-19). The pharma group also wants to conduct multinational phase 2b/3 clinical study for the drug in Canada and the USA. It has already received clearance for the clinical study in Canada and is preparing to file an investigational new drug (IND) application with the US FDA, it revealed. Once all ethics approvals have been received, the trial will begin as a Phase 2b study of 100 patients and with positive preliminary data, the study will move directly from Phase 2b into a Phase 3 trial, said Algernon.
FSD Pharma Inc (NASDAQ:HUGE) (CSE:HUGE) has stepped up its efforts to increase its cash on hand in the first quarter of 2020, it reported on Thursday after the market bell. The Toronto-based cannabis company ended the quarter with nearly C$8.4 million in cash after liquidating its equity interest in Cannara Biotech (CSE:LOVE) for C$7.7 million. FSD also listed its real estate asset in Coburg, Ontario for sale and filed a mixed shelf registration for up to C$100 million. On the operational front, FSD said in a statement that its Phase 1 first-in-human safety and tolerability study with FDS201, or ultra micro-palmitoylethanolamide, is progressing in Australia, with the clinical portion of the study expected to be completed by the beginning of 3Q 2020. Three single ascending dose cohorts have been completed to date, with no serious adverse effects reported, according to the company.
True Leaf Brands Inc (CSE:MJ) (OTCQX:TRLFF) has updated shareholders on the restructuring plan it announced in early April. The Vernon, British Columbia-based company was one of the first to market hemp-based products for pets worldwide. In a statement Friday, True Leaf told shareholders that its trustee FTI Consulting Canada Inc is soliciting offers for the company’s assets, a required step in its recently announced interim filing facility.
GlobeX Data Ltd (CSE:SWIS) (OTCMKTS:SWISF), the cybersecurity and privacy solutions provider, said Friday that experienced Silicon Valley professional Amir Assar has joined the company’s board to create long-term value for the company. Assar has nearly three decades of experience in technology sales and leadership and is presently AVP Sales at financial management software vendor Workday Inc. Prior to this, Assar was a key executive at Adaptive Insights, where he was instrumental in establishing Adaptive as a leader in the financial data analytics market, culminating in an IPO filing in June of 2018 and eventual acquisition by Workday for $1.55 billion in August 2018.
Co-Diagnostics Inc (NASDAQ:CODX) CEO Dwight Egan has told shareholders the company is making a profit during its current second quarter on strong demand for its coronavirus (COVID-19) diagnostic test. “As of the mid-point in the second quarter we have significantly exceeded the second-quarter estimates of analysts covering the company, and we are pleased to announce that we are already solidly profitable for the second quarter based on results to date,” Egan said in a statement Thursday shortly after releasing the group released its first-quarter 2020 financials. The Salt Lake, Utah-based company closed its 1Q on March 31, 2020, with $1.5 million in revenue thanks to surging demand for its Logix Smart COVID-19 test kits. Gross margins hit 71.5% on sales of the test.
Canntab Therapeutics Ltd (CSE:PILL.CN) (OTCQB:CTABF) (FRA:TBF1.F) has appointed pharmaceutical scientist Joshi Laxminarayan as its chief scientific officer (CSO). The firm, which specializes in a suite of cannabinoid and terpene blends in hard pill form for therapeutic applications, said Laxminarayan will be responsible for directing its strategic research and partnership program as well as overseeing the company’s ongoing manufacturing and distribution operations. Laxminarayan began his career in India as a bench chemist, and before his appointment as Canntab’s CSO acted in a consultant role as director of the company’s quality assurance & quality control, where he assisted with the research and development needed to formulate the company’s current product line.
Steppe Gold Ltd (TSE:STGO), which is now producing gold from its ATO mine in Mongolia, has told investors it ended the first quarter to end-March, 2020, with US$1.8 million in cash, up from US$0.67 million at the end of 2019. The increase was mainly due to cash received from financing, offset by cash used for operations, the miner said in a statement. The group announced on March 25 this year that it had begun gold production at the flagship mine after its Adsorption-Desorption Recovery (ADR) plant was fully commissioned by the Professional Inspection Agency of Mongolia and declared ready for use on January 20.
Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) has said it is saddened to report a fatality has occurred at its Guanajuato Mine Complex (GMC) in Mexico. The accident happened Thursday at about 9.30 am CDT in the Rayas underground mine at GMC, the company said in a statement. The deceased, age 29, was a contract electrician at GMC. The accident involved a single motor vehicle traveling down a decline during care and maintenance activities. Another Great Panther contractor in the same vehicle was injured in the accident and has been transported to a local hospital, where he is in a stable condition.
Esports Entertainment Group, Inc. (NASDAQCM:GMBL), a licensed online gambling company with a focus on esports wagering and 18+ gaming, said that in connection with its previously announced underwritten public offering of 1,980,000 units, the underwriters have partially exercised and closed on their over-allotment option and purchased an additional 209,400 shares of common stock from the company at a price of $4.23 per share. Esports Entertainment received additional gross proceeds of $885,762 from the sale of these shares, before deducting underwriting discounts and commissions and other estimated offering expenses. Maxim Group LLC acted as the lead book-running manager for the offering, with Joseph Gunnar & Co., LLC co-book-running-manager.
Loop Insights Inc (CVE:MTRX) said the TSX Venture Exchange has accepted for filing the company’s proposal to issue 321,241 common shares at a deemed value of 17 cents per share to settle outstanding debt for $54,611 with three creditors. The company added that it will issue another news release when the shares are issued and the debt extinguished.
DRDGOLD (NYSE:DRD) said its board has declared a cash dividend of 25 South African rand cents per ordinary share for the quarter ended March 31, 2020. Assuming an exchange rate of R18.50/$1, the dividend payable on an ADR is equivalent to 14 US cents for shareholders liable to pay dividend withholding tax. However, the actual rate of payment will depend on the exchange rate on the date for currency conversion, it added.
Published at Fri, 15 May 2020 20:16:00 +0000-NA Proactive news snapshot: MGX Minerals, OTC Markets Group, Seelos Therapeutics, Orgenesis UPDATE …