NioCorp Developments Ltd. CEO Mark Smith said that more states are likely to follow California's lead in banning the future sale of internal combustion engine vehicles as a means of accelerating demand for electric vehicles (EVs) and addressing climate change. In an interview with Proactive Investors, Smith noted these and other government actions are also likely to increase demand for the critical minerals needed by EVs and other cleantech applications – including the critical minerals NioCorp plans to produce at its Elk Creek Project in Nebraska, once financing is obtained and the project is in commercial operation. NioCorp is developing a critical minerals project in southeast Nebraska that will produce niobium, scandium, and titanium. The company is also evaluating the potential to produce several rare earth byproducts from the project.
Infinity Stone Ventures Corp announced the closing of the third tranche of a financing of units of the company through the issuance of 2.33 million units at a price of $0.15 per unit, for gross proceeds of $350,000. The Vancouver-based company said each unit is comprised of one Class A Subordinate Voting Share and one-half of one share purchase warrant. Each whole warrant is exercisable into one share at a price of $0.30 for a period of three years from the date of issuance. The company has raised a total of $750,500 and issued a total of 5,003,331 units in the three tranches of the financing. In connection with the third tranche, Infinity issued 49,600 finders' warrants, and paid finder's fees of $7,440. Each finders' warrant is exercisable at a price of $0.30 for a period of two years from the date of issuance. The company intends to use the net proceeds as general working capital. The firm also issued 550,000 stock options at an exercise price of $0.30 for a three-year term to directors, officers and consultants. Infinity is a diversified, single source supplier for the critical energy metals being used in the clean energy revolution alongside its established SaaS solution portfolio. It also acquires 100% interest in critical mineral deposits and occurrences in stable mining-friendly jurisdictions, close to final use destinations in North American manufacturing hubs.
SinglePoint Inc, a solar energy and sustainable solutions provider, has revealed that SinglePoint CEO Wil Ralston will present at the Emerging Growth Conference on August 31, 2022, at 12:45p ET. He will discuss the tremendous growth at the company. SinglePoint has recently unveiled record revenue in its second quarter financial results showing the solar energy company reporting revenue of $4.5 million, nearly ten times higher than its revenue in the same quarter of 2021. Investors can register for the conference here.
Auxico Resources Canada Inc revealed that the company’s board has appointed BDO LLP, Chartered Professional Accountants as the auditor of the company, effective immediately, following the resignation of Guimond Lavallee. The principal reason for the change in auditor is that Auxico now has operations in several countries, primarily in Latin America, and Guimond Lavallee no longer has the resources to respond to Auxico's needs. The board thanked Guimond Lavallee for their work as auditor over the past several years. At the same time, the board said it is “pleased” to appoint as its auditor BDO, which has a “global organization that extends across 164 countries and territories.” Auxico is focused on the acquisition, exploration and development of mineral properties in Colombia, Brazil, Mexico, Bolivia and the Democratic Republic of the Congo.
Québec Nickel Corp revealed impressive new assay results from step-out drilling completed at the Fortin Sill Zone, at the Ducros Project, located 80 kilometres (km) northeast of Val-d’Or, Québec. In addition, the Vancouver-based mineral exploration company also reported assay results from the Fortin Sill discovery outcrop channel sampling program that was completed earlier this summer. Québec Nickel has a 100% interest in the Ducros property, consisting of 280 contiguous mining claims covering 15,147 hectares within the eastern portion of the prolific Abitibi Greenstone Belt in Québec. The company said it intersected 1.85% nickel, 1.65% copper and 3.27 grams per tonne (g/t) of platinum-palladium-gold over 8.43 metres in step-out drilling at the Fortin Sill Zone.
CleanSpark Inc has announced that its bitcoin mining hashrate has exceeded three exahashes, tripling in less than a year. Hashrate, which is the computing power available for processing transactions and securing the bitcoin blockchain, is an important metric for evaluating bitcoin mining companies. It determines how much bitcoin a company can mine. CleanSpark said its accelerated growth could be attributed to new partnerships and a strategic financial roadmap that has helped the company navigate current market conditions.
Nextleaf Solutions Ltd has reported strong fiscal 3Q results as the brand has maintained its position as a leader in vapes and oils in the competitive British Columbia market and expanded its distribution into Ontario, Canada’s largest cannabis market. Other operational highlights for the quarter ended June 30, 2022, include a 5% increase in market share quarter-over-quarter in the oil category and Glacial Gold Anytime 1:1 Vape remaining the number one selling CBD-forward vape SKU in BC. For the quarter, the company posted revenue of C$1,202,638, a significant increase from the C$655,861 reported in the year-ago quarter.
Irwin Naturals Inc has filed its second-quarter 2022 results, and the company’s executives sounded off on the path forward as its cannabis and ketamine operations ramp up. “While supply chain issues, reduced inventory at our customers and product transitions resulted in an 18% decrease in revenues, we maintained profitability,” CFO Philippe Faraut said in a statement. “Additionally, as we continue to execute on our cannabis licensing and ketamine clinic rollup strategy, we will be adding new revenue streams to our results in the quarters to come."
Altaley Mining Corporation founder CEO Ralph Shearing said the second quarter was challenging, but with its flagship Campo Morado mine now excavating higher grade ore, the rest of the year looked promising. Campo Morado is an operating polymetallic base metal mine currently producing an average of 2,400 tons per day. It is ranked as Mexico’s sixth-largest zinc producer. "2Q 2022 financial results reflect a challenging quarter for the company. Campo Morado operations saw a decrease in profitability over H1 2022 compared to H2 2021 as a result of the El Largo zone nearing depletion delivering lower grade ore to the mill which negatively affected both recoveries and concentrate grades,” said Shearing in a statement.
Veji Holdings Ltd has posted second-quarter revenue of $1,223,540 compared to $315,680 for the same quarter a year ago. The British Columbia-based online marketplace for plant-based and sustainable products said the consolidated gross margin percentage for the three months ended June 30, 2022 was 45.2% compared to 9.4% for the three months ended June 30, 2021. "We're pleased to report our financial results for Q2, 2022,” Veji CEO Kory Zelickson said in the results statement. “The company's management and its board of directors remain engaged in our previously-announced strategic review process, with the intention of maximizing value through a potential transaction. We anticipate providing further updates in due course."
Progressive Planet Solutions Inc (PLAN) has announced the financial results of its consolidated group of companies for the fiscal year ending April 30, 2022, which include the revenues and expenses of Absorbent Products Ltd (APL) for seventy-two days after it was acquired on February 18, 2022. "Progressive Planet underwent a fundamental change in the last quarter of 2022," noted Steve Harpur, PLAN CEO in the results statement. "We purchased a business with mineral assets that we believe are underutilized and that provide core ingredients to make regenerative fertilizers and alternative cements from mineral powders produced as a by-product of APL's business." He added: "Immediately upon taking over operations, we were faced with legacy customer relationships that were no longer profitable in the inflationary environment we inherited. Tough decisions were made in the short term to position the company for better long-term growth (and we appreciate the support of our customers through this transition)."
Naturally Splendid Enterprises Ltd has announced its unaudited financial results for the six months ended June 30, 2022, and unveiled a strategic update. "We are continuing to implement our plan focused on our plant-based opportunities, most notably Plantein Plant-Based Foods,” said Naturally Splendid CFO George Ragogna in a statement. “With most Covid restrictions now removed, we have been able to meet clients face to face at several trade shows after a multi-year hiatus, to promote the launch of our Plantein retail line while developing national distribution and sales relationships," he added.
SpotLite360 IOT Solutions Inc has reported strong growth in revenue for the three months ended June 30, 2022, and also announced its first positive cash flow in the period. Revenue for the second quarter totaled C$8.7 million, compared to C$944,000 in the same period of 2021. In the first six months, revenue amounted to C$9.7 million. In a statement, SpotLite360 president and CEO James Greenwell said: "We are very excited to share these results and prove our strategy of driving supply chain data and proof to consumers. SpotLite360 is creating an automated, smart, connected supply chain ecosystem.”
Tribe Property Technologies Inc has said its revenue in the second quarter ended June 30, 2022, rose by 9% from the corresponding quarter of last year to $4,332,820, driven primarily by organic growth and smaller tuck-in acquisitions. The company, a leading provider of technology-enabled property management solutions, added that year-to-date revenue increased by 10% compared to the first half of 2021. "Tribe again achieved strong revenue in the second quarter on a per-home basis, as we continue to digitize our acquired customers and roll out our Tribe Home platform to more communities," Joseph Nakhla, CEO of Tribe, said in a statement.
Thor Explorations Ltd has hailed a 'milestone' second quarter as it reported a net profit of over US$6 million after reaching commercial production from its flagship Segilola gold mine in Nigeria, while revenues came in at US$66.2 million. The miner said 23,785 ounces of gold had been generated from the mine in Osun state in the three months to June 30, 2022, and it sold 22,172 ounces of gold and 1,351 ounces of silver in the period. The company had a further gold dore inventory of 2,065 ounces on hand, with 6,069 ounces in transit which have all been sold in the current (third) quarter, it added. "This has been a milestone quarter for the company, generating a net profit of over US$6m for the period," Segun Lawson, the CEO of Thor Explorations told investors in the results statement.
Givex Information Technology Group Ltd said it has brought on 15 new professional US sports teams as clients in 2022, utilizing various Givex products including Uptix. "These new partnerships showcase Givex's ability to provide turnkey digital solutions that are easy to implement and arm venue operators with data to drive revenue and make business decisions," said Don Gray, CEO of Givex in a statement. "An Uptix client saw an average upsell of 47% per game in the month of August, and that's just one example of the many clients who see the ongoing value of Uptix and other Givex products," he added.
Victory Square Technologies Inc has announced its second quarter financial results, showing its unaudited net asset value (NAV) remaining strong at $89,704,469 at the end of June 2022. "Despite the choppy markets and gloomy headlines, 2022 has been a year of continued growth and new opportunities for Victory Square" Victory Square CEO Shafin Diamond Tejani said in the results statement. "Our NAV has remained strong, and we've seen significant growth in our portfolio companies so far this year, including over 500% YOY growth from our wholly-owned subsidiary Hydreight,” he added.
Braxia Scientific Corp has announced its results for the first quarter of fiscal 2023 with an increase in the number of treatments driving a 13% quarter-on-quarter rise in revenue. The medical research and telemedicine company, which provides ketamine and psilocybin treatments for depression and related disorders, also said it launched KetaMD in the US, increasing access to treatment for mental health patients. "We are proud to have launched KetaMD in the US so that we can begin addressing the needs of millions lacking access to innovative treatments for mental health disorders such as depression, anxiety, bipolar disorder and post-traumatic stress disorder (PTSD)," said Dr Roger McIntyre, CEO of Braxia Scientific in the results statement.
FansUnite Entertainment Inc has posted second-quarter revenue of C$5.46 million, an increase of approximately 461%, compared to C$0.97 million in the year-ago period. "Our B2B and B2C segments continued to deliver strong operational results, which were primarily driven by American Affiliate and McBookie,” FansUnite CEO Scott Burton said in a results statement. “Additionally, this quarter saw us strengthening our operations to lay the groundwork for continued growth as we have entered a licensing agreement with Welsh bookmaker Dragon Bet and expanded American Affiliate's presence in the United States through its live activation arm Betting Hero," he added.
Arrow Exploration Corp said it has filed its unaudited interim financial statements and Management's Discussion and Analysis (MD&A) for the quarter ended June 30, 2022, which show the company continues to realize good oil and gas prices and good operating netbacks increases quarter-over-quarter. Arrow said its operating netbacks increased to $49.18 per barrel of oil equivalent (/boe) in the second quarter of 2022, up from $20.16/boe in the first quarter of 2022. The increase was due to higher crude oil production and better netbacks from natural gas, it added. The first six months of 2022 saw the company deploy the capital it raised at the time of its admission to London's AIM on a successful two-well drilling campaign at Rio Cravo on the Tapir Block. The better than forecasted results from this drilling campaign and the subsequent generation of positive cashflows in Q3 means Arrow is committing to a further drilling program.
Playgon Games Inc has reported a 54% revenue jump quarter-over-quarter as the live dealer technology provider boosted its client base and player numbers throughout the second quarter. For the three months ended June 30, 2022, the company reported revenue of $216,881, compared to $2,218 in the year-ago quarter, and up by $76,004 or 54% on 1Q, 2022. During 2Q, the company onboarded an additional 14 operators, bringing its total client base to 49, representing a 40% increase from the first quarter of this year. Average monthly players for 2Q were 20,100, a 15% increase in player numbers from the previous quarter.
Steppe Gold Limited has revealed that it is going full pelt with its Phase 2 expansion plan at the ATO gold mine in Mongolia after receiving a landmark power agreement and a new fixed crusher, which is expected to be completed this October. All equipment for the new unit has arrived and 160 tonnes of equipment have been installed out of a total of 220 tonnes. The installation is now 72% complete. Once operational, the new crushing unit will increase Steppe's current processing capacity by four times, up to 4 million tonnes per annum at 50% of its power. "We are pleased to report solid progress on the new fixed crusher, which is a critical step in the Phase 2 Expansion. Despite a challenging period with COVID-related lockdowns in China and continued border closures, we have shipped all heavy equipment and installation work is rapidly advancing," said Steppe Gold CEO Bataa Tumur-Ochir.
CULT Food Science Corp has highlighted the key updates contained in the 2022 Bi-Annual Report issued by its portfolio company, Mogale Meat Co. Mogale Meat is based in South Africa and was created with the people on the continent of Africa in mind. The affiliate venture aims to produce nutritious cell-based meats while reducing water and land usage as well as conserving wildlife and biodiversity. “Tackling hunger and water preservation is no easy task, but Mogale Meats is up to the challenge,” said Lejjy Gafour, CEO of CULT in a statement. “Drive and passion for cellular agriculture and sustainability is what drives Mogale Meats toward reaching its goals to provide Africa with a better future, to reduce hunger throughout the continent and to preserve water, land, and animals across its many countries,” Gafour added.
Tocvan Ventures Corp has said it is 'extremely encouraged' by the latest drill results at the Pilar gold-silver project in Mexico, which continue to suggest mineralization can be extended there. Seven holes as part of the Phase 3 program were sunk for 1,382 metres (m) and assays from four have been released. All four were drilled in new areas and all hit structures known to host gold-silver mineralization. Highlights included a length of 22.9m at 0.3 grams per ton (g/t) gold and 19 g/t silver from 27.5m depth in one hole. Another hit 12.2m at a grade of 0.3 g/t of the yellow metal from surface. "With each progressive stage of reconnaissance drilling along previously untested trends, we are uncovering excellent indications that mineralization continues to the southeast and in parallel trends to our Main Zone," said Tocvan CEO Brodie Sutherland in a statement.
AIM ImmunoTech Inc said its clinical development collaborator Roswell Park Comprehensive Cancer Center has commenced patient enrollment in its phase 2 study evaluating Ampligen (rintatolimod) in subjects with primary PD-1/PD-L1 resistant melanoma. The company said the study, which is funded by the National Cancer Institute (NCI), will evaluate type-1 polarized dendritic cell (αDC1) vaccine in combination with tumor-selective chemokine modulation comprised of Interferon alpha 2b, Ampligen, and Celecoxib. Ampligen is AIM’s dsRNA product candidate being developed for globally important cancers, viral diseases and disorders of the immune system.
Scottie Resources Corp has reported results from the first three holes of its 2022 drill program on the high-grade Blueberry Contact Zone in British Columbia (BC). Most notably, the company found intercepts of 13.3 grams per ton (g/t) of gold over 12.5 meters (m), including 37.5g/t over 2.5m. The Blueberry Contact Zone is located 2 kilometers (km) north-northeast of the company’s 100%-owned past-producing high-grade Scottie Gold Mine and 35 km north of the town of Stewart, BC, along the Granduc Road. "Since making the discovery of a high-grade zone on the north end of the Blueberry Contact Zone last summer, the team has been excited to expand it and test new ideas relating to the structural controls on the mineralization,” Scottie CEO Brad Rourke said in a statement.
Outlook Therapeutics Inc said it has re-submitted its biologics license application (BLA) to the US Food and Drug Administration (FDA) for ONS-5010, an investigational ophthalmic therapy which, if approved, will be branded as LYTENAVA (bevacizumab-vikg) for the treatment of wet age-related macular degeneration (wet AMD). Outlook Therapeutics CEO Russell Trenary said the company has worked diligently over the past three months to provide additional required information not included in its March 2022 submission. This will address requests from the FDA to ensure the BLA is complete for acceptance and review "We believe that this re-submission addresses each of the comments and recommendations from the agency, and we are confident in the revised BLA application," Trenary added in a statement.
Power Nickel Inc said it has now filed the initial NI 43-101 mineral resource estimate (MRE) for the Nisk project in the James Bay territory, Quebec, which has an effective date of May 17 this year, showing over 2.5 million tonnes of indicated resources at 1.20% nickel-equivalent (NiEq) and 1.4 million inferred tonnes at 1.29% NiEq. The resource was defined in both open-pit and underground mining scenarios, with the higher confidence indicated resource for open pit pegged at 894,100 tonnes at 0.33%. The underground indicated resource showed around 1.69 million tonnes at 0.91% NiEq. "Power Nickel was extremely pleased with the inaugural Mineral Resource Estimate and Technical Report," said CEO Terry Lynch in July this year.
Fobi AI Inc, a data analytics provider through artificial intelligence to drive customer engagement, revealed that it is supporting Adam Hadwin’s Greater Vancouver Charity Invitational (GVCI) golf tournament with its Checkpoint digital ticketing and engagement solution. The tournament will be held on September 1, 2022, at Morgan Creek Golf Course and the proceeds will go to the C.H.I.L.D foundation, which seeks to find a cure for children with intestinal or liver disorders. The event, which was canceled for the past two years due to the coronavirus (COVID-19) pandemic, previously used paper tickets. By implementing Fobi’s Checkpoint solution this year, the organizers have created an end-to-end digital ticketing and engagement solution that makes the registration and check-in process seamless and easy for the attendees.
New Age Metals Inc announced, in conjunction with its partner Mineral Resources Ltd, that it has increased its land position in the highly-prospective Winnipeg River Pegmatite Field from 11,620 to 21,611 hectares, adding 8,984 new hectares through claim staking. The junior mineral exploration and development company said it is now the largest claimholder in the Winnipeg River Pegmatite Field, with 11 properties totalling 21,611 hectares. New Age Metals also noted its C$1.8 million exploration budget for 2022 includes geophysics and prospecting over portions of these new holdings.
Hawkmoon Resources Corp announced that it has completed a 3,001-metre (m) summer drill program at its Wilson gold property in Quebec. The Canadian gold projects developer said 10 holes were completed, with an average depth of 300m per hole, with mineralized zones noted in all 10 holes and at times, more than one zone was seen per hole.
In a separate statement, Hawkmoon said its has published its audited financial statements, and its management's discussion and analysis for the year ending March 31, 2022, concurrently with the interim financial statement and its management's discussion and analysis for the three months ending June 30, 2022. The filed documents are available on www.sedar.com.
GreenBank Capital Inc said it has filed amended condensed interim consolidated financial statements and an amended MD&A (management's discussion and analysis) for the six months ended June 30, 2022, previously filed on August 12, 2022. Reference was made to a non-arm's-length relationship between the company and Greenbank Holdings US Inc., a company with which the company has a promissory note receivable and loan receivable. The reference to the relationship between the company and Greenbank Holdings has been corrected in the amended financial reports to state that it is in fact an arm's-length relationship.
Valeo Pharma Inc has announced the appointment of Kyle Steiger to the role of senior vice-president and chief commercial officer (CCO). The company noted that Steiger is a pharmaceutical industry veteran whose work experience includes specialty pharma, biologics, primary care, medical devices, over-the-counter, health policy and market access. He spent nearly 20 years at Novartis Canada in various executive positions including franchise head of hematology, vice-president of primary care and most recently vice-president of ophthalmology. Valeo Pharma CEO Steve Saviuk said the company is pleased to add Steiger to their management team.
Wellbeing Digital Sciences Inc has announced the appointment of its CEO, Najla Guthrie to the Benzinga Psychedelic Advisory Council. The Benzinga Psychedelics Advisory Council is a collective of the leading minds and voices in the psychedelics space, composed of key thought leaders sharing insights into industry developments, sector trends and breaking news. "We are delighted to add Najla Guthrie to this highly respected council, representing the leading voices in the emerging sector of psychedelic medicine," said Patrick Lane, executive vice president of Partnerships at Benzinga. Guthrie added: "Benzinga continues to be a leading platform for coverage of the psychedelic space and continues to be a hub where investors come to identify their next investment opportunities. I am honoured to be amongst esteemed colleagues and thought leaders in the space." Members of the Benzinga Psychedelics Advisory Council share their expertise through a series of articles, opinion pieces, live conversations at the Benzinga Psychedelics Capital Conference, and quotes on relevant news.
Helix BioPharma Corp announced that it has completed the buyback of the outstanding amount of the convertible security funding agreement with Lind Global Macro Fund, LP, a New York-based institutional investment fund managed by The Lind Partners, LLC. The company entered into the agreement with Lind in May 2021 and closed the first tranche for gross proceeds of $3,500,000 shortly thereafter. The company has now bought back the amount outstanding of the convertible security under the agreement, which is C$2,061,875. "Paying off our convertible security paired with a robust plan to reduce overheads, operating and general and administrative expenses, gives Helix longevity to focus and execute on our strategy. We continue to be excited about our asset LDOS47 and its journey to bring new and potentially life changing therapies to patients suffering with cancers." commented Artur Gabor, CEO of Helix.
Mountain Boy Minerals Ltd said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement announced August 8, 2022, and August 23, 2022, which will see the issue of 5,841,667 flow-through shares and 582,000 non-flow-through shares all at a purchase price of 12 cents each, together with 6,423,667 share purchase warrants to with an exercise price of 18 cents for a 29-month period (5,841,667 warrants) and 12 cents for a two-year period (582,000 warrants) with 17 placees.
Lithium Ionic Corp has reported additional excellent drilling results from the Galvani claims, on which it is currently conducting a due diligence review following a recently announced binding asset purchase agreement. The Galvani claims, as well as Lithium Ionic's neighbouring 100%-owned Itinga Lithium Project are located in the state of Minas Gerais, Brazil, in the same district as the lithium-producing CBL mine and Sigma Lithium Corp's Barreiro deposit (20.4Mt grading 1.4% Li2O).
First Mining Gold Corp has provided an update regarding its offer to acquire all of the issued and outstanding common shares of Beattie Gold Mines Ltd as previously announced on July 18, 2022. First Mining said that the remaining 45,000 common shares of Beattie Gold, representing 2.4% of Beattie Gold's outstanding common shares, have been tendered and deposited under the Beattie Offer. Together with the 97.6% of the outstanding common shares of Beattie Gold that have already been tendered and deposited under the Beattie offer, First Mining will own 100% of the outstanding common shares of Beattie Gold upon closing of the Beattie offer. Upon closing of the Beattie offer and the concurrent transactions, First Mining will own 100% of the Duparquet Gold Project, one of the largest advanced-stage gold projects in Canada.
Mindset Pharma Inc has announced that James Lanthier, CEO, and Joseph Araujo, CSO of Mindset, will participate in the H.C. Wainwright 24th Annual Global Investment Conference to be held at the Lotte New York Palace Hotel in New York City on September 12-14, 2022. Lanthier and Araujo will participate in a fireside chat with Patrick Trucchio, H.C. Wainwright Research Analyst, on Tuesday, September 13, 2022, at 9.30am ET. Interested parties can register here: https://hcwevents.com/annualconference/. For more information about the conference, or to schedule a one-on-one meeting with Mindset's management team, interested parties can send an email to KCSA Strategic Communications at Mindset@kcsa.com.