Predictmedix Inc said it has closed the first tranche of a non-brokered private placement, issuing 8,300,000 units at a price of $0.05 per unit for gross proceeds of $415,000. The company said net proceeds from the first tranche will be used for general operations (working capital) including business development and technology upgrades. Each unit in the private placement consists of one common share of the company and one-half of one common share purchase warrant, whereby each whole warrant entitles the holder to purchase one additional common share for a period of two years from closing at an exercise price of $0.10 per share.
Lion Copper and Gold Corp (TSX-V:LEO, OTCQB:LCGMF) said it has completed its exploration core drilling program, which commenced May 20, 2022, as part of the stage 1 work program with Nuton LLC, a Rio Tinto venture. The company said the program has been completed safely and on schedule, with objectives including the evaluation of mineralized potential beneath the legacy Yerington pit, the Montana-Yerington prospect located between the Ann Mason project and the Yerington pit, along with verification works around the MacArthur Project resource. The drill program was composed of five drill holes totaling 4,752 feet. Drill core has already been logged by company personnel and assays are in process with Skyline Assayers and Laboratories in Tucson, Arizona, with assay results expected in approximately two months.
Marvel Discovery Corp has reported on findings from its most recent field campaign on the Duhamel Ni-Cu-Co-PGE and Ti-V-Cr property which is located 350 kilometres (km) north of Quebec City in Canada, and which included a new showing within the Houliere Block. "We are absolutely thrilled with the results from our inaugural field prospecting program at Duhamel, and to find a new showing within the first week bodes very well for the remainder of our field campaign," said Karim Rayani, president and CEO of Marvel in a statement. "While highly anomalous XRF readings from our new showing will need to be confirmed by laboratory analysis - if the stripping indicates that the new showing is more extensive than what is presently exposed, we will be immediately applying for drill permits while expanding our field prospecting program," he added.
Southern Energy Corp (TSX-V:SOU, AIM:SOUC, OTC:MAXMD) has released its second quarter financial and operating results for the three and six months ended June 30, 2022, showing $3.6 million of adjusted funds flow from operations in Q2 2022, an increase of 490% from the same period in 2021. In the results statement, Ian Atkinson, president and CEO of Southern, commented: "We are pleased with the success of our recent equity financing, which allows us to accelerate the organic growth strategy portion of our goal to reach 25,000 boe/d. The success of these first three wells at Gwinville have already increased our corporate production by over 100%." He added: "We are truly excited by our ability to begin a long-term development drilling program to unlock shareholder value due to the significant reserves, production and cashflow growth in Gwinville and our other assets. Cashflow generated from this development will support our fundamental strategy of both organic and inorganic growth of natural gas weighted assets in the Gulf Coast area of the United States."
Vyant Bio (NASDAQ:VYNT) Inc revealed that it is advancing its repurposed drug candidate, VYNT-0126 to treat Rett Syndrome, into clinical trials early next year based on pre-clinical efficacy data and following encouragement and guidance from the International Rett Syndrome Foundation (IRSF), the company said as it posted second-quarter results. "With our preclinical data with VYNT-0126, which we believe is compelling, we met with the Clinical Trial Committee of the International Rett Syndrome Foundation on July 19, 2022, to receive their feedback and guidance on our plans to conduct a proof-of-concept clinical trial of VYNT-0126 in adult Rett patients in Australia,” Vyant chief scientific officer Robert Fremeau said in a statement accompanying the results. “We are on track to submit our clinical trial application to the Ethics Committee in Australia in the third quarter of 2022 for a trial to begin in early 2023. In addition, we have initiated a collaboration with the IRSF to advance VYNT-0126 into a proof-of-concept clinical trial in pediatric Rett patients in the US and anticipate filing an IND (Investigational New Drug Application) with the FDA for the pediatric study in 2023,” he added.
CULT Food Science Corp (CSE:CULT, OTCQB:CULTF) has noted that the current severe summer weather being experienced across Europe and the US further supports the need to advance cellular agriculture in order to use water more efficiently. “Investing in cellular agriculture is investing in a sustainable future,” said Lejjy Gafour, chief executive officer of CULT in a statement. “The current research speaks for itself – the food crisis is likely to continue worsening without a sustainable food production solution. We firmly believe that cellular agriculture is the answer. Given the current pace of change that is happening globally we must take steps to address these problems now if we want to achieve real positive impact,” added Gafour.
Plurilock Security Inc said its wholly-owned subsidiary, Integra Networks Corporation, has received a purchase order from the Defence Research and Development Canada (DRDC), an operating agency of the Department of National Defense. “We are excited to be working with our first Canadian government customer,” said Ian L. Paterson, CEO of Plurilock in a statement. “As a Canadian company, it’s great to be able to take the experience that we have gained in the US and apply it within our domestic market. This is a key validation for the DEFEND product and we are looking forward to working with more Canadian governmental clients. This deal, having come about as a result of Plurilock acquiring Integra Networks, clearly demonstrates the viability of our M&A and growth strategy."
Todos Medical Ltd has reported its financial results for the second quarter of 2022 ended June 30, 2022, showing an increase in revenue to $2.18 million, compared to $1.73 million in 2021. The company said the increase was primarily driven by a higher rate of COVID-19 testing and Tollovid revenues. It expects to focus on driving revenue growth in COVID-19 related diagnostics as well as other testing services through its Provista Diagnostics CLIA/CAP lab business unit in the third quarter, Todos said. "Todos' diagnostics focus for the first half of 2022 was really about completing the transition from primarily being a company that generates revenues by selling materials and supplies into 3rd party high-complexity CLIA labs through our Corona Diagnostics business to primarily generating revenues through the sales of testing services through our own Provista Diagnostics CLIA/CAP PCR Testing lab," said Daniel Hirsch, chief financial officer of Todos Medical in the results statement.
Todos also said that its Atlanta-area CLIA/CAP-certified clinical laboratory Provista Diagnostics Inc has initiated a MonkeyPox diagnostic case study series evaluating the potential for missed diagnosis among suspected MonkeyPox among non-gay male patient groups who have been unable to secure adequate testing to confirm their diagnosis, and who remain symptomatic up to 10 weeks. The first four enrollees in the case study series include three women and one man, the company said.
Minto Metals Corp (TSX-V:MNTO) has announced its financial and production results for the second quarter ended June 30, 2022, including record EBITDA (earnings before interest, taxes, depreciation, and amortization), 45% growth in production, and a 131% rise in adjusted EBITDA compared to the same period in 2021. "Global inflationary pressures and difficult environmental conditions during the Yukon's record spring freshet this year presented Minto's operations team with particular challenges during Quarter 2. In spite of that, Quarter 2 represents the third consecutive quarter (versus the prior year) of positive momentum and we are poised for the positive trend to continue for the second half of 2022. Our team will remain extremely focused for the balance of 2022 on our strategy of FIX, FILL and OPTIMIZE along with continuing our targeted exploration to provide viable mine life expansion," Chris Stewart, president and CEO of Minto Metals said in a statement.
Trust Stamp (NASDAQ:IDAI, EURONEXT:AIID) Inc has posted a significant increase in net revenue for the six months to June 30, 2022, on the back of contracts executed by new and existing customers. Net revenue for the first half was $3.53 million, compared to $1.25 million for H1 2021, while net revenue for the second quarter was $0.71 million, compared to $0.72 million a year ago, reflecting the timing of orders and a pause in performance and billing, which the company attributed to a government. "We achieved a 182% year-over-year increase in revenue and a 284% increase in gross profit during the first half of 2022, reflecting the strength of our technology offerings and the continued efficient execution of our business plan," Trust Stamp CEO Gareth Genner said in the results statement.
Wellbeing Digital Sciences (NEO:MEDI.AQN, OTCQB:KONEF) Inc said its subsidiary IRP Health Ltd has received approval from Veterans Affairs Canada for its multidisciplinary Reactivation-branded therapy program at its new clinic in Toronto, Ontario. According to Wellbeing, Reactivation is a 12-week, physician-supervised, interdisciplinary pain management program combining psychiatry, psychology, occupational therapy, physiotherapy, kinesiology, and dietetics to assist veterans with chronic musculoskeletal injuries and pain. The goal of the program is to decrease distressing symptoms, increase engagement in the community, and increase the ability to complete daily tasks.
Silverton Metals Corp (TSX-V:SVTN, OTCQB:SVTNF) announced its newly-appointed executive management has taken steps to further advance the company by analyzing acquisition opportunities, appointing seasoned institutional directors, outlining future exploration programs, and retaining additional service providers. Based on market sentiment and compelling valued opportunities in battery metals, the company said it has entered into a definitive share exchange agreement to acquire all of the issued and outstanding shares of Wholesome Organic Limited (WOL). WOL owns the Peny Property comprised of fifteen mineral claims totalling 3,204 hectares in the Snow Lake district in Manitoba. Located approximately 25 kilometres northeast of the town of Snow Lake, Peny Property is prospective for lithium pegmatite and volcanic massive sulphide (VMS) style mineralization.
Tiidal Gaming Group Corp (CSE:TIDL) announced that its board of directors has completed a review of the company's strategic direction and operations in an effort to maximize shareholder value, determining that it is in the best of interests of Tiidal to focus its efforts and resources exclusively on its Sportsflare technology division and embark on the process of divesting its competitive esports team assets. The gaming media and technology platform said upon completion of the divestiture, the sole business of the company will be Sportsflare and anticipates that shareholders will be asked to consider and approve a change of the company's name to Sportsflare Ltd at its next annual general and special meeting of shareholders expected to be held in the fourth quarter of 2022.
Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) said it is encouraged by the big increase in lithium prices over the last year, which serves its green energy-focused portfolio of projects. Lithium assets make up 40% of the Vancouver-based company’s royalty portfolio, CEO Brendan Yurik noted. “(We) are tremendously encouraged by the 350% increase in lithium prices over the past 12 months. In the last quarter alone, more than $200 million has been raised for the advancement of these assets,” Yurik said in a statement.
Unrivaled Brands Inc (OTCQX:UNRV) revealed that it had named experienced corporate attorney Robert Baca as interim Chief Legal Officer (CLO) as it focuses on becoming a dominant West Coast cannabis company. A California cannabis industry veteran, Baca has over a decade of experience as a corporate attorney and consultant, with a focus on mergers and acquisitions (M&A) and leveraged finance transactions, said the multistate cannabis operator. The vertically integrated Santa Ana, California-based company with operations in California and Oregon said Baca’s appointment follows the naming of Sabas Carrillo as interim Chief Executive Officer on August 12.
Goldshore Resources Inc (TSX-V:GSHR, OTCQB:GSHRF) has announced assay results from previously unsampled historic drill core at its Moss Lake Project in Ontario. The company said it retrieved historical core that remains where the drill collars have previously been recovered and accurately surveyed. Prior operators selectively sampled core that fits with the model used at the time, however, this core is now being relogged and sampled by Goldshore.
The Valens Company (TSX:VLNS, OTCQX:VLNCF) Inc investors have the opportunity to continue participating in the company’s story following the announcement that the cannabis producer is being acquired by private liquor and cannabis retailer SNDL Inc in a $138 million all-share deal, according to analysts at Stifel GMP. In a note, analysts awarded the stock a ‘Buy’ rating but lowered their price target from C$3.50 to C$1.20 to reflect the takeover offer. The company’s Toronto-listed stock is currently trading at about C$1.07.
Sidus Space Inc (NASDAQ:SIDU) said it has signed a memorandum of understanding with Exo-Space to further commercialize its satellite edge computing technology. Sidus is a space-as-a-service company focused on mission critical hardware manufacturing, combined with commercial satellite design, manufacture, launch, and data collection. With this partnership, Sidus said it will integrate Exo-Space's FeatherEdge Data Processing Platform with its hybrid 3D printed satellite, LizzieSat. Through collaboration on data processing and storage technology in space, on-orbit testing of the device in a space environment will provide proof-of-concept data, increase the product's overall Technology Readiness Level, and establish integration processes for future missions, according to Sidus.
Adastra Holdings (CSE:XTRX) Ltd said it has granted 300,000 stock options to a certain director for the purchase of up to 300,000 common shares of the company at a price of 75 cents per common share. Each option is exercisable for a period of five years.
Kootenay Silver Inc and Aztec Minerals Corp have announced the closing of the transaction whereby Aztec indirectly acquired Kootenay's 35% interest in the joint venture (JV) company that holds the Cervantes porphyry gold-copper project in Sonora, Mexico, which was previously announced on July 26, 2022. As consideration for the 35% interest in the JV, Aztec has issued to Kootenay 10,000,000 common shares in the capital of Aztec at a price of C$0.25 per Aztec Share for aggregate consideration of $2,500,000, and Kootenay has retained a 0.5% Net Smelter Return Royalty. As a result of the transaction, the JV is now a wholly owned subsidiary of Aztec. No finder's fees were paid in accordance with the Transaction. Following the closing of the transaction, Kootenay owns a total of 10,680,000 Aztec Shares. Kootenay's ownership of Aztec Shares represents approximately 11.85% of the issued and outstanding Aztec Shares on an undiluted basis. Kootenay held 680,000 Aztec Shares prior to the acquisition of the beneficial ownership of, and control and direction over, 10,000,000 Aztec Shares. The Aztec Shares held by Kootenay are for investment purposes only.
Meanwhile, Eric Sprott has announced that on August 22, 2022, 15,625,000 common share purchase warrants of Kootenay Silver Inc, held by 2176423 Ontario Ltd - a corporation he beneficially owns - expired unexercised representing a decrease in holdings of approximately 5.2% of the outstanding common shares on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these warrants, Sprott beneficially owned and controlled 30,150,000 Kootenay shares and 16,875,000 warrants representing approximately 8.4% of the outstanding shares on a non-diluted basis and approximately 12.5% on a partially diluted basis assuming the exercise of such warrants. As a result of the warrant expiry, Sprott now beneficially owns and controls 30,150,000 Kootenay shares and 1,250,000 warrants representing approximately 8.4% of the outstanding shares on a non-diluted basis and approximately 8.7% on a partially diluted basis assuming the exercise of all warrants. The warrants expiry resulted in a partially diluted ownership change of greater than 2% (to below 10%) and, therefore, the filing of an update to the early warning report. As a result, Sprott and 2176423 Ontario Limited ceased to be insiders of Kootenay Silver. The securities are held for investment purposes.
Cloud DX (TSX-V:CDX, OTCQB:CDXFF) Inc has said it will post its Q2 financial results after the market open on August 29, 2022. At 12.00 pm EDT, the same day Cloud DX CEO and founder Robert Kaul will host an online earnings call to discuss financial results to June 30, 2022, and discuss recent events of interest to investors. Registration is via the following link. Kaul commented: "Cloud DX is looking forward to announcing progress towards strategic goals in 2022 including executing on contracts announced in Q1, continued evidence of patient and provider satisfaction, and our relationships with critical partners such as Medtronic Canada." Within twenty-four hours after the webinar, the video will be available on the company's YouTube page.
Belmont Resources Ltd announced that EuroSwiss Equity Group of Switzerland will assist Belmont with business development, media awareness and provide key introductions to the European investment community. George Sookochoff, CEO of Belmont Resources stated, "EuroSwiss is a well-established European focused capital markets group. They have built a large following of institution and high net worth investors throughout Europe. We are looking forward to working with EuroSwiss and having access to their multi-faceted targeted services. The European community returns from summer holidays in September and it is the ideal time to initiate our European marketing campaign. Our project will be generating plenty of news in the coming months which we are confident will create a strong interest within the European investment community.” Under the agreement, Belmont will pay EuroSwiss a fee of CAD $48,000 for a term of 12 months.
Belmont also announced that it is undertaking a non-brokered private placement of up to $210,000 through the issuance of 3 million units at $0.07. Each unit will consist of one common share of the company and one warrant exercisable at $0.10 in the first year and $0.15 in the second year. Belmont intends to pay finders fees of up to 8% cash and 8% warrants, subject to compliance with applicable securities legislation and TSX.V policies. The company intends to use the proceeds of the financing for further exploration on its Greenwood copper/gold camp projects and for working capital. While Belmont intends to spend the proceeds from the financing as stated above, there may be circumstances where, for sound business reasons, funds may be reallocated at the discretion of the board.