NA Proactive news snapshot: Lexaria Bioscience, American Manganese, Codebase Ventures UPDATE …

A glance at some of the day's highlights from the Proactive Investors US and Canada newswires

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Your daily round-up from the world of Proactive

Lexaria Bioscience Corp (CSE:LXX) (OTCMKTS:LXRP) and Hill Street Beverage Company Inc (CVE:BEER) announced Wednesday that they have entered into a joint manufacturing partnership to produce DehydraTech products, including THC and CBD powder. Under the partnership, which is valid for 10 years, the powder will be used to produce consumer products like tablets, capsules, or packets for sale in Canada and for export where permitted. Also, the powder will be sold in bulk to licensed producers. Manufacturing will be done at Hill Street's soon-to-be-acquired OneLeaf Cannabis cultivation and processing facility in Regina, Saskatchewan, pending licensing by Health Canada.

American Manganese Inc (CVE:AMY) (OTCMKTS:AMYZF) has achieved even better purity rates using its ground-breaking recycling technology at the pilot plant. Earlier this month, the group revealed that a 99.88% NMC (nickel manganese cobalt) cathode material had been produced. But on Wednesday it said that  99.93% purity had been achieved from the second production of recycled NMC cathode material.

Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLLF), an investment company targeting early-stage blockchain and crypto companies, announced the formation of a subsidiary Wednesday focused on investment in the cannabis sector. Code Cannabis Investments will identify early-stage assets and startups in the sector that could benefit from its capital and industry knowledge. The goal is to help those companies accelerate their growth and scale to meet greater market demands.

Pressure BioSciences Inc (OTCMKTS:PBIO) has landed its second major contract with a mutli-billion dollar pharmaceutical company to manufacture a candidate protein drug. The deal utilizes Pressure’s BaroFold platform, which is designed to navigate the potentially 5,000-step process of manufacturing proteins while avoiding the pitfalls of mistakenly forming aggregate proteins and accidental protein misfolding. The company launched its BaroFold Biopharma Services Business in January 2019.

Drilling success just keeps coming for Great Bear Resources Ltd (CVE:GBR) at its Dixie project in the famous mining area of Red Lake in Ontario. The firm Wednesday reported that ongoing drilling has confirmed high grade structural gold at the Dixie Limb zone at the property, with a highlight intercept of 0.60 meters at 73.33 grams per ton (g/t) of gold.

Nextleaf Solutions Ltd (CSE:OILS) (OTC:OILFF) is adopting a shareholder rights plan as it braces for potential hostile takeover bids. The agreement lays out that permitted takeover bids must be presented to all shareholders and for all shares and held open for 105 days. If a person acquires more than 20% of the company’s shares in unpermitted bids, shareholders can purchase additional shares at half their market value to stave off a takeover.

CROP Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) said Wednesday that its first batch of THC distillate vape cartridges derived from the 2018 harvest passed heavy metal and pesticide testing. This is consistent with the “excellent” initial test results recorded after the 2018 harvest, the Vancouver-based company said in a statement.

GGX Gold Corp (CVE:GGX) (OTCMKTS:GGXXF) updated on progress at its flagship Gold Drop project in the Greenwood camp in British Columbia, where  drilling re-started at the COD North vein on 16 July. As of July 22, 421 metres have been sunk in seven holes at COD North, which was in addition to the 1,965 metres drilled in 32 holes on the main COD vein. An initial deep hole is also planned to test a target zone at depths of between 500 and 800 metres.

Australis Capital Inc (CSE:AUSA) (OTCMKTS:AUSAF) is partnering with a global marketing firm to consolidate design and brand strategy for the cannabis company’s house of brands. The Las Vegas-based company said in a release Wednesday that it will work with ASTOUND GROUP, a full service fabrication and creative agency, on a new commercialization and merchandising strategy for Australis’ brands and introduce new products.

Mojave Jane Brands Inc (CSE: JANE) (OTCMKTS:HHPHF) will proceed with a non-brokered private placement that could raise up to US$8 million. The company, which is based in Toronto but has a vertically integrated presence in California, will offer up to 32 million units at $0.25 per unit. Net proceeds will be used to fund strategic acquisitions, expand Mojave Jane's delivery footprint and for general working capital.

Berkwood Resources Ltd (CVE:BKR) said exploration crews were on their way to its Lac Gueret graphite project in Quebec to test its previously announced potential hub-and-spoke mining feed.

Explorex Resources Inc (CSE:EX), the cobalt focused explorer, reported its results for the year to end March, which saw it post a net loss of C$1.37 million, compared to a loss of C$1.11 million in 2018. The firm put the increase down to the increase of actively exploring as well as evaluating additional assets for acquisition. The write off of exploration and evaluation assets also came in at C$232,284, it said.

XPhyto Therapeutics Corp.  has revealed that the German Federal Institute for Drugs and Medical Devices (BfArM) has granted the privately-held firm’s wholly owned German subsidiary, Bunker Pflanzenextrakte GmbH, a cannabis cultivation and extraction licence for scientific purposes.

Jervois Mining Limited (ASX:JRV) (CVE:JRV) has closed its merger with Idaho cobalt company eCobalt Solutions (TSE:ECS) on Wednesday, the miner said in a release. The transaction follows Jervois’s earlier takeover of M2 Cobalt Corp, an East African-focused exploration company with assets in Uganda. Vancouver-based M2 Cobalt announced in April that it plans to merge with Jervois and, subsequently, eCobalt Solutions.

VolitionRx Limited (NYSEAMERICAN:VNRX) announced a further strengthening of its balance sheet with an existing investor exercising the balance of its warrant to purchase $4.8 million in an aggregate amount of shares of its common stock at a price of $3 each.  With this exercise, the group added, the investor has fully-exercised the warrant to purchase 5 million shares of common stock that was originally issued in the private placement (PIPE) completed in August 2018.  Volition said it intends to use the net proceeds from this warrant exercise for continued product development, clinical studies, product commercialization, working capital, and other general corporate purposes.

Antibe Therapeutics Inc. (CSE:ATE) (OTCMKTS:ATE) shares resumed trading at 7am Pacific Time on Wednesday July 24 after being halted on Tuesday ahead of the news that it is proposing to sell units an at offering price of C$0.30 per unit to raise money as it further develops its lead drug, ATB-436. The shares slipped 3.3% to C$0.29 in Toronto trading.


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