TRACON Pharmaceuticals Inc (NASDAQ:TCON) reported 4Q and fiscal year-end financial results, finishing off 2020 with cash and equivalents of $36.1 million as at December 31, 2020, while revealing some key upcoming company milestones. TRACON noted that expects its current cash, equivalents and short-term investments will fund operations into the second half of 2022, after completing financings of about $13.8 million with multiple new and existing healthcare-focused institutional investors in December.
Analysts at Citron Research believe that with GameStop Inc (NASDAQ:GME) stock once again riding high as Reddit traders/investors have adopted the company as a trading vehicle, the company should listen to its customers and consider buying an esports-focused firm, highlighting Esports Entertainment Group Inc (OTCMKTS:GMBL). In a research note, the Citron analysts said what they have learnt from the past four months ride for GameStop are two easy takeaways - people love video games and people love to gamble. Therefore, in order for GameStop to keep and maintain a high share price, the company must change its narrative. The analysts said they feel there is one way for GameStop to seamlessly both pivot away from its secularly declining retail business and monetize its customer database, and that answer is to acquire Esports Entertainment Group.
MagicMed Industries Inc. noted that its CEO, Dr Joseph Tucker will be presenting at Psychedelic Capital’s #PsyCap event today, Thursday, February 25, 20201, at 4.15pm EST. For a free ticket to the event, investors can use the following link: https://microdose.buzz/MAGIC. Psychedelic Capital is a virtual investment conference, and a platform to showcase the top companies, latest IPOs, newest opportunities, and deepest industry insights.
Mountain Valley MD Holdings Inc (CSE:MVMD) (OTCQB:MVMDF) said Thursday it has struck an agreement with Circadian Wellness Corp to apply Quicksome technology to mushroom neutraceutical products. The agreement includes ongoing product royalties and an initial payment of C$250,000 to Mountain Valley MD – the company’s first revenue. Quicksome desiccation technology utilizes advanced liposomes and other stabilizing molecules to encapsulate and formulate active ingredients into highly efficient product formats that are consumed orally.
Viscount Mining Corp (CVE:VML) (OTCQB:VLMGF) told investors on Thursday that soil sampling had begun at its Silver Cliff property in Colorado, to be followed by a ground magnetic survey as the company kicks off this year's field season. The goal of these two studies is to give the company a better understanding of the extent of the high-grade Kate East zone at the property ahead of a phase of drilling expected this summer.
PsyBio Therapeutics Corp (CVE:PYSB), the US-based biotechnology company, started trading on the TSX Venture Exchange under the symbol ‘PSYB’ on Thursday. The firm’s shares were trading at C$0.68 in early morning activity in Toronto, with around 1.2 million in volume. PsyBio is developing a new class of drugs intended for the treatment of mental health challenges and other disorders.
Trillion Energy International Inc (CSE:TCF) (OTCMKTS:TCFF) (FRA:3P2N), the oil and gas producer, has boosted production at its Cendere oil field in Turkey thanks to two well workovers, the company said on Thursday. Combining this with higher crude prices, the oiler said it is now on track to exceed its 2019 oil revenues at the field. The company noted that re-completion of the Cendere 13 well, where the firm has a 100% working interest (WI), resulted in daily gross production increasing by 469 barrels of oil per day (bopd) to 714 bopd. As at February 1 this year, output was 654 bopd. Operational costs at the well also fell.
Nerds On Site Inc (CSE:NERD) (OTCMKTS:NOSUF) reported its financial results for 2Q 2021, as the company’s revenue rose 7.7% to $2,452,312, along with a 22.5% bump in its gross profit, following increased demand for its services as more people worked and learned from home due to coronavirus (COVID-19) restrictions. Nerds On Site also recorded an 82% reduction in its net loss for the quarter as selling, general and administration expenses fell by 39%.“In response to unpredictable COVID conditions, NERDS management have focused on driving new business and streamlining internal processes and operations,” Nerds On Site CEO Charles Regan said in a statement.
Medexus Pharmaceuticals Inc (TSXV:MDP) (OTCQX:MEDXF) (FRA:P731) has initiated the Canadian commercial launch of Gleolan, a powder-based optical imaging agent taken orally by patients to help surgeons identify brain and spinal cord tumors called gliomas. Gleolan is an imaging agent that makes high-grade gliomas fluoresce under blue light, helping neurosurgeons better visualize these gliomas for more complete removal, the company said. After administration, areas within the tumour glow pink or red, and healthy brain tissue appears blue when exposed to a special blue light during surgery.
Deep-South Resources Inc (CVE:DSM) revealed Thursday that it has appointed MSA Group of South Africa to lead work on an updated NI 43-101 resource estimate for the Haib copper project. Located in the Karas region of southern Namibia, Haib is one of the largest undeveloped copper deposits in Africa. A 2018 resource estimate indicated the deposit hosts a 43-101 an indicated resource of 456.9 million tons at 0.3% copper, equal to 3.1 billion pounds of copper and an inferred resource of 342.4 million tons at 0.3% copper for 2.2 billion pounds of copper at a cut-off grade of 0.3%.
Vuzix Corporation (NASDAQ:VUZI), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, has provided an update on recent warrant exercises and the resulting impact on its cash position. The company said that, over the past 70 days, 98.6% of its 10,159,575 outstanding warrants as of September 30, 2020, have been exercised for cash by their holders resulting in total proceeds received of approximately $48.1 million by the company. These receipts are inclusive of the $28.6 million of warrant proceeds that had been previously reported in the company's January 15, 2021, update on this subject. As of today's date, the company has only 138,401 warrants outstanding which could, if exercised, result in further proceeds of $767,837.
Stifel GMP on Thursday upped its price target on Steppe Gold Ltd (TSE:STGO) (OTCMKTS:STPGF) (FRA:2J9) to C$4.00 from C$3.90 a share, a day after the miner doubled the resource at its ATO gold mine to 2.45 million gold equivalent ounces. Steppe Gold released an updated resource estimate at the Mongolian project that saw measured and indicated (M&I) resources increase to 41.6 million tons or 2.2 million ounces at an average grade of 1.7 grams per ton (g/t) gold equivalent ounces – 1.4 million gold ounces and 20.5 million silver ounces.
KULR Technology Group Inc (OTCQB:KULR), a leading developer of next-generation lithium-ion battery safety and thermal management technologies, is partnering with the CSA Group to develop a new battery safety and testing procedure. The CSA Group (formerly the Canadian Standards Association) is a leading standards development organization and a global provider of testing and certification services. KULR’s passive propagation resistant (PPR) design solutions prevent dangerous cell-to-cell thermal runaway propagation.
Victory Resources Corporation (CSE:VR) (OTCMKTS:VRCFF) (FRA:VR62) has received a drilling permit for its Loner property in Nevada and is now preparing for a 500 metre (m) short-hole program. "The first pass drilling program at Loner Property is intended to confirm intersections of gold-bearing quartz vein that correlates with historical underground mining and mapped surficial gold occurrences," said David R. Deering, the vice-president of exploration and a director at the company.
PharmaDrug Inc (CSE:BUZZ) (OTCPINK:LMLLF) announced Thursday it had filed an application with the US Food and Drug Administration to receive an orphan drug designation for the use of DMT in preventing kidney injuries in patients undergoing kidney transplants. Ischemia reperfusion injury (IRI) is caused by a sudden temporary impairment of the blood flow to a particular organ and is associated with a robust inflammatory and oxidative stress response to hypoxia and reperfusion, which disturbs the organ function.
Gold Resource Corporation (NYSEAMERICAN:GORO) (FRA:GIH) posted net income of $4.4 million in the year to end-December 2020, having produced 30,508 gold equivalent ounces from its Don David mine in Mexico. Allen Palmiere, the CEO of the Mexico-focused precious metals miner, said output had been 'solid' despite it being a 'demanding' year amid the pandemic, which is expected to remain a challenge in the short to medium term.
Valeo Pharma Inc (CSE:VPH) (OTCQB:VPHIF) saw a 76% increase in its 4Q revenue after it added several new commercial products to its pharmaceutical portfolio. In its latest quarterly and full year financials released Wednesday evening, the Montreal-based company said it generated C$2.2 million in revenue for the quarter ended October 31, 2020 and $7.5 million over the full fiscal year – a 14% increase over last year’s levels. The launch of new products such as Ametop and Yondelis in Canada and Sodium Ethacrynate in the US helped to boost revenues and margins in 4Q, with a nominal increase to operating expenses, the company told shareholders.
Blackrock Gold Corp (CVE:BRC) (OTCMKTS:BKRRF) (FRA:AHZ) told investors that 'seasoned institutional sales and corporate finance professional' Daniel Vickerman is joining the company as senior vice-president of corporate development. Vickerman has served as an independent director at the resource group since last summer but will now step down from the board at the next annual general meeting (AGM).
Recruiter.com Group Inc (OTCQB:RCRT) has launched Recruit Me, a campaign dedicated to a video-first approach to hiring, the company announced Thursday. The Recruit Me campaign is committed to building a talent ecosystem that unlocks human potential through a candidate-first digital interaction, the company said. As a signal of the importance of this shift in hiring, Recruiter.com is opening its talent pool to sponsor 100,000 Recruit Me videos for job seekers. Candidates interested in showcasing their passions and expertise who want to show more than their resume, can submit their Recruit Me video on the campaign website, the company said.
The Valens Company (TSE:VLNS) (OTCQX:VLNCF) (FRA:7LV) reported a 44% increase in its fiscal 2020 net revenue to $83.8 million, as the company’s Cannabis 2.0 market share in Alberta, British Columbia, and Ontario increased to approximately 4.9% in the fourth quarter according to Headset data. Valens also said its provincial sales grew 292% quarter over quarter in 4Q, transforming the company into the largest third-party cannabis product manufacturer in Canada.
Victory Square Technologies Inc (CSE:VST) (OTC:VSQTF) (FRA:6F6) announced Thursday that its board approved a strategic dividend reward initiative to unlock the intrinsic value of its portfolio company GameOn Entertainment Technologies Inc. Under the scheme, Victory Square said it will distribute a portion of the common shares of GameOn currently held by the company to its Victory Square shareholders. Victory Square added that it will evaluate, consider and assess the mechanism by which to effect such distribution on a tax-efficient and financially prudent basis -- with the aim of ultimately capitalizing GameOn as a stand-alone publicly listed entity following its listing.
WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) (FRA:4WE) said it will begin selling Pedro’s Sweet Sativa, strain-specific PAX ERA products to its Starseed Medicinal clients from March 6, 2021, as part of the launch of its latest Cannabis 2.0 offering, in partnership with cannabis vaporizer technology specialist PAX Labs Inc. The medical-grade cannabis company said its Starseed Medicinal-branded oil pods in award-winning strain-specific variants, using cannabis-derived terpenes produced in-house, will be available for purchase via its online medical store, while its adult-use Color Cannabis-branded PAX ERA pods are expected to be available through supply arrangements with provincial retailers, commencing in the second quarter of 2021.
Thunderbird Entertainment Group Inc (CVE:TBRD) (OTCQX:THBRF) (FRA:32GA) announced financial results Thursday for its fiscal second quarter ended December 31, 2020, revealing revenue and earnings that roughly doubled year-over-year. The media company posted revenue of C$28 million and C$47.7 million in the three and six months ended December 31, respectively, representing increases of 98% and 56% year-over-year. Its adjusted EBITDA was C$5.2 million and C$10 million over the same periods, compared to C$2 million and C$5.7 million in fiscal 2020.
Empower Clinics Inc (CSE:CBDT) (FRA:8EC) (OTCQB:EPWCF) announced the launch of its first three integrated health centres in Ontario on Thursday, with each location expected to generate C$2.5 million to C$3.6 million in annual revenue. The three facilities are located in Etobicoke (~2,700 square foot (sq ft), ~2,900 sq ft) and London (~3,100 sq ft). Each location is expected to host four-six physicians, the company said, and Empower has already secured commitments from 12 physicians to date.
Tetra Bio-Pharma Inc (TSX:TBP) (OTCQB:TBPMF) (FRA:JAM1) said it has signed a letter of intent (LOI) with Danish company DanCann Pharma for the exclusive distribution of its Reduvo Adversa and QIXLEEF products in Denmark, Norway, Sweden, Finland, and Germany. The immunomodulator drug discovery group said subject to registration with the European Medicines Agency (EMA), DanCann will handle the exclusive sales and distribution in the Nordics and Germany for Reduvo Adversa and QIXLEEF, a botanical cannabinoid-derived medicine, as well the over-the-counter (OTC) medicinal cannabis product ENJOUCA.
Fireweed Zinc Ltd (CVE:FWZ) (OTCMKTS:FWEDF) (FRA:20F) has released final drill assays from last year's program at the Boundary Zone at its flagship Macmillan Pass project, which continue to show the potential of the asset in Yukon. These last assays hail from Boundary Zone West, which were discovered last year, and sit 15 road kilometres west of the Tom-Jason deposits. Significantly, mineralization was found in a new lower (deeper) sequence hosted in older host rocks than other mineralization found at Macmillan Pass.
American Manganese Inc (CVE:AMY) (OTCPINK:AMYZF) (FRA:2AM) CEO Larry Reaugh said the company welcomes US President Joe Biden's executive order (EO) directing the strengthening of critical supply chains, which specifies "high-capacity batteries, including electric-vehicle batteries," as one of three key technology supply chains. Through its patented RecycLiCo EV battery recycling technology and its work for the US Department of Defense/Defense Logistics Agency investigating the production of Electrolytic Manganese Metal (EMM) from the Pentagon's low-grade Wenden (Arizona) Stockpile, American Manganese is developing strategic sources for four US-listed critical minerals: lithium, cobalt, manganese, and aluminum. AMY is now working with the US Department of Energy's Critical Materials Institute and the Oak Ridge National Lab in a program to optimize lithium-ion battery recycling recoveries.
O3 Mining Inc (CVE:OIII) (OTCMKTS:OQMGF) has reported drill results from an area at its Alpha property in Val-d'Or, Québec, which it said underscores the potential for finding another orebody with good grades. The latest assays hail from six holes drilled late last year in the Simkar sector, which spans 5 kilometres (km) by 2 km and includes intersections of 8 grams per ton (g/t) gold over 0.5 metres (m) and 2 g/t of the yellow metal over 5.1m in one hole.
Blackrock Gold Corp (CVE:BRC) has closed its financing pursuant to its final short form prospectus dated February 16, 2021, which was filed with and accepted by TSX Venture Exchange and filed with and receipted by the securities commissions of all the provinces of Canada other than Quebec on February 16. The TSX Venture Exchange said it has been advised that the offering closed on February 19, 2021 for gross proceeds of $10.35 million.
Algernon Pharmaceuticals Inc. (CSE:AGN) (FRA:AGW) (OTCQB:AGNPF), a clinical-stage pharmaceutical development company, has announced that its CEO Christopher J. Moreau as well as Dr David Nutt, one of the company’s lead DMT consultants, will be discussing the company’s New DMT Stroke Clinical Research Program at the upcoming Psychedelic Capital Virtual Investment Conference, presented by Microdose. Algernon’s presentation at the virtual conference will be held on Thursday, February 25, 2021, at 4.45pm EST. Investors can click the following link to access a free ticket for the event: https://microdose.buzz/CHRISTOPHERM. General information about the conference can be found here: https://microdose.buzz/shop/psychedelic-capital/psychedelic-capital-feb-2021/
OTC Markets Group Inc. (OTCQX:OTCM), the operator of financial markets for 11,000 US and global securities, has announced that Intermap Technologies Corp. (TSX:IMP) (OTCQX:ITMSF), a leader in geospatial intelligence solutions, has qualified to trade on the OTCQX Best Market and has today upgraded from the OTC Pink market. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. "The OTCQX provides greater liquidity and more exposure for emerging companies like ours," said Patrick A. Blott, Intermap's chairman and CEO. "It is a big step up from the Pink market, where we used to trade in the US. Today's move is part of our long-term plan to expand Intermap's access to capital as we leverage the world's largest library of 3D terrain data, created by Intermap, and commercialize elevation data-as-a-service. We are providing more liquidity for existing shareholders and creating more opportunity for new shareholders as we gain broader exposure to US investors."