NA Proactive news snapshot: Surge Holdings, Thor Explorations, Algernon Pharmaceuticals, Tectonic Metals UPDATE …

Surge Holdings Inc (OTCQB:SURG) said it has begun supplying urgently needed safety and health-related products through its SurgePays Direct Wholesale Marketplace to combat the coronavirus pandemic. Memphis-based Surge developed the SurgePays Marketplace Network, which provides products to the underbanked through convenience stores, bodegas and community markets. Surge said it has “leveraged” direct manufacturing and trade association relationships to procure hand sanitizers, masks, gloves, and other goods, which it is selling to its network of independent retailers nationwide. Thor Explorations Ltd (CVE:THX) is ready to begin construction on its Segilola gold project after reaching its funding goals thanks to the Africa Finance Corporation. The Vancouver-based company announced the milestone Wednesday, calling the decision the “most significant” milestone to date. Segun Lawson, Thor’s CEO, told shareholders that the company was “delighted” to be in position to begin construction. Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) told investors Wednesday that it received positive feedback from the US Food and Drug Administration regarding its plan to develop a new intravenous version of its repurposed drug NP-120 (ifenprodil), which the company is exploring as a coronavirus (COVID-19) treatment. Work has already begun on the synthesis of the intravenous drug by Cascade Chemistry, who have identified a potentially novel and proprietary synthetic route to the final product. Algernon said it expects the first multi-kilogram batch to be ready in early July, at which point toxicology studies can begin. The FDA advised that a 30-day animal study would be acceptable for the toxicology program of the drug. Tectonic Metals Inc (CVE:TECT) announced Wednesday that Doyon Ltd, one of Alaska's largest Native Regional Corporations, will soon become its largest shareholder. Doyon will assume that title upon closing of a C$2,094,600 (USD$1,500,000) strategic investment in Tectonic that grants Doyon a 22.3% ownership on a partially diluted basis. Proceeds from the financing will be used for general working capital Humanigen Inc (OTCQB:HGEN) announced Wednesday that the US Food and Drug Administration has given it permission to commence a Phase III study of lenzilumab in patients with coronavirus (COVID-19). The Burlingame, California-based company's lead drug is aimed at treating so-called cytokine storm, which can lead to acute respiratory distress syndrome in COVID-19 patients. The Valens Company (CVE:VLNS) (OTCQX:VLNCF) reported fiscal first-quarter results after the bell on Tuesday revealing record revenue and growing profits, thanks in part to its growing white label cannabis operations. The company brought in revenue of C$32 million in the three months ended February 29, a year over year increase of more than 14 times the $2.2 million reported in the same period last year. Gross profit increased to C$18.1 million, good for 56.6% of revenue, up from C$900,000 a year ago. Auryn Resources Inc (TSE:AUG) (NYSEAMERICAN:AUG) has delivered a new report on its Homestake Ridge gold project outlining the deposit’s potential for a high-grade underground gold mine. In an update, the company shared a new preliminary economic assessment (PEA) on Homestake Ridge, highlighted by a net present value of US$108 million with an internal rate of return of 23.6% at an all-in sustaining cost of US$670 per ounce using a US$1,350 per ounce gold price scenario. CytoDyn Inc (OTCQB:CYDY) said Wednesday that it has treated the first patient with its flagship drug candidate leronlimab in a Phase 2b/3 trial for severe and critical cornavirus (COVID-19) symptoms. The use of leronlimab, which has other therapeutic indications as a treatment for HIV and certain breast cancers, is being administered under an emergency Investigational New Drug Application (IND) granted by the US Food and Drug Administration (FDA). So far, the company has treated more than 30 patients at four hospitals and clinics under emergency IND applications. Meanwhile, in a separate statement, CytoDyn said that its investigational new drug, leronlimab, has also treated the first patient in its Phase 2 basket trial for 22 solid cancer tumors. The patient has breast cancer, not triple-negative breast cancer, pointed out CytoDyn. Harvest One Cannabis Inc (CVE:HVT) (OTCQX:HRVOF) said Wednesday that its wholly-owned subsidiary Satipharm Ltd has expanded its product offerings to include two new variants of its unique proprietary CBD Gelpell product, further enhancing its product portfolio currently on sale in major retailers and pharmacy chains throughout the United Kingdom and Ireland. In a statement, the Vancouver-based company said the new Satipharm CBD advanced range products combine CBD with specifically selected vitamins in the company's proprietary Gelpell capsules. The patented Gelpell technology delivers CBD in “seamless microbeads that are clinically proven to increase bioavailability,” noted the company. Media Central Corporation Inc (CSE:FLYY) told shareholders Wednesday that its digital platforms are seeing double-digit user growth. The news comes after Media Central’s earlier commitment to leverage its print content, NOW Magazine and The Georgia Straight, for the digital realm. Its digital platforms, which also includes canncentral.com, reported double-digit growth in users, search impressions and click-through during March compared to the previous month. Next Green Wave Holdings Inc (CSE:NGW) (OTCQX:NXGWF) has launched a direct-to-consumer CBD e-commerce marketplace in the US. The Vancouver-based company said it wants to provide a safe process for customers to purchase a full array of health, beauty and wellness CBD products from the safety of their homes during the coronavirus (COVID-19) crisis. In a statement Wednesday, Next Green Wave said all of its products at its flagship San Diego CBD location will be available for purchase online and shipped directly to homes across the US. Global Atomic Corporation (TSE:GLO) (OTCQX:GLATF), the uranium and zinc group, has unveiled the results of an optimized mine plan as the basis for a new preliminary economic assessment (PEA) at its Dasa Project in Niger.  The company’s new PEA comprises an optimized Phase 1 plan for a uranium mine at the Dasa Project. The plan is designed to be low in capital expenditures and is targeting profitable production over a 12 year mine life.  The company said it aims to upgrade the substantial mineral resources outside the Phase 1 mine plan to feed the larder Dasa Project. ImmunoPrecise Antibodies Ltd. (CVE:IPA) (OTCQB:IPATF) has provided an update on its participation and support of global solidarity in the fight against coronavirus. "Our scientific team is honored to play its part on WHO working groups dedicated to scientific transparency and teamwork towards stopping the spread of SARS-CoV-2," stated Dr. Jennifer Bath, CEO of ImmunoPrecise. "Together, we work to strengthen our common goal of a safe and effective vaccine for all, and we echo the WHO's gratitude to the public for putting their trust in the scientific community. It was our pleasure to sign the public statement showing our support, and we humbly thank the WHO for their leadership in these efforts." Vert Infrastructure Corp (CSE:VVV) (OCTMKTS:CRXPF) has cancelled it's previously announced $0.10 a unit private placement. The cannabis company, formerly known as CROP Infrastructure Corp, said it continues to look for sales opportunities for its real estate assets to reduce its debt obligations.  Fireweed Zinc Limited (CVE:FWZ) has completed the non-brokered private placement the group announced on March 31, raising gross proceeds of C$1,142,301. The company said the proceeds from the offering will be used for work-related to its Macmillan Pass Project in Yukon, Canada, and for general working capital purposes. RNC Minerals Corp. (TSX:RNX) said it has received Toronto Stock Exchange approval for a normal course issuer bid to purchase up to no more than 30,415,198 of its issued and outstanding common shares. The company said that, under the bid, purchases may commence on April 17, 2020, and it will expire no later than April 16, 2021. RNC said any purchases made under the bid would, among other factors, reflect the group’s belief that its common shares trade at a significant discount to their underlying value. CB2 Insights (CSE:CBII) (OTCQB:CBIIF) has said that due to circumstances created by the coronavirus (COVID-19) pandemic it will not be filing its financial statements for the fiscal year ended December 31, 2020, by the scheduled due date of April 30, 2020. The company said it expects to file the financial reports on or about June 12, 2020, and until then, as required, its management and other insiders will be subject to a trading black-out Ceylon Graphite Corp (CVE:CYL) said the TSX Venture Exchange has consented to the extension in the expiry date of 25,183,500 special warrants issued by the company from the original expiry date of December 31, 2019, to the new expiry date of June 30, 2020. The group pointed out that these warrants were issued under the reverse takeover deal with Plumbago Refining Corp BV, which was accepted for filing by the exchange effective December 30, 2017. The extension of the warrant expiry date was approved by disinterested shareholders of Ceylon Graphite at an annual general and special meeting of shareholders held on January 31, 2020. Mineworx Technologies Ltd. (CVE:MWX) (OTCQB:MWXRF) said that, due to circumstances created by the coronavirus (COVID-19) pandemic, it does not believe that it will be able to file its December 31, 2019, audited annual financial statements by its usual 120-day deadline of April 29, 2020, and will be relying on the extension granted to issuers by the Alberta Securities Commission and other members of the Canadian Securities Administrators of up to an additional 45 days to complete year-end statutory filings. Accordingly, as required by the conditions of the extension, the company’s management and other insiders will be subject to a trading black-out until its financial statements are filed, which will be on or before May 29, 2020. It noted that, other than as previously disclosed by the company, there are no other material business developments since the date of the most recent filing of its interim financial statements for the third quarter ended September 30, 2019. Bioporto A/S (CPH:BIOPOR) said that, further to its rights issue announcement of March 16, 2020, it has now received the full subscription amount with the gross proceeds totalling DKK 39,987,284.80 and expected net proceeds (gross proceeds less estimated related costs for the company) of approximately DKK 37,500,000. American Resources Corporation (NASDAQ:AREC), a supplier of raw materials to the rapidly growing global infrastructure marketplace, has announced that its chairman and CEO, Mark Jensen will present at the April 2020 Virtual Investor Summit on Wednesday, April 22, 2020, at 2:00pm Eastern Time. The group said a live audio webcast of the presentation will be available on the Investors section of the company's website: americanresourcescorp.com. Immediately following the presentation, it added, management will participate in an interactive Q&A session with interested parties, allowing participants to type in questions and receive live responses. A webcast replay will be available two hours following the live presentation and will be accessible for one year. For more information, visit virtualinvestorsummit.com.