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NA Proactive news snapshot: InnoCan Pharma, Telson Mining, WeedMD, Globex Mining UPDATE …

Proactive Investors Thursday, 2 July 2020
InnoCan Pharma Corporation (CSE:INNO) director Bill Macdonald has resigned effective June 29, the company said on Thursday. “The company wishes to thank Mr. Macdonald for all his efforts and supporting the Company since the IPO in September 2019,” it added in a statement. In other news, Innocan also announced that it has reached an agreement with a former service provider to settle certain debt-related services.  Innocan said about $50,000 of the debt is being settled through the issuance of 335,570 common shares to the former service provider at $0.149 each. The shares will be subject to a statutory hold period for four months and one day. Telson Mining Corporation (CVE:TSN) (OTCMKTS:SOHFF) said Thursday that it is increasing the maximum amount to be raised in a non-brokered private placement to $1.4 million to boost working capital and advance the company's Tahuehueto gold mining project, in north-western Durango state, in Mexico. The Canadian junior resource group focused on developing mines in Mexico said it plans to conduct a non-brokered private placement of up to 14 million units at a price of $0.10 per unit for total proceeds of up to $1.4 million. WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) (FSE:4WE), a licensed producer and distributor of medical-grade cannabis, said Thursday that it has modified the terms of a credit facility under which it had secured up to $39 million of debt financing over a three-year term ending in 2022. On March 29, 2019, WeedMD had arranged a senior secured credit facility which it has now amended to reflect some key changes for the company. Under the terms of the credit agreement amendment, WeedMD said it secured “a deferral of its financial covenants by 12 months to June 30, 2021.” Similarly, quarterly principal repayments have been rescheduled to commence in the first quarter of 2021. In addition, the company has agreed to a 50 basis point increase in the applicable interest rate margin on the credit facility. Globex Mining Enterprises Inc (TSE:GMX) (OTCQX:GLBXF), the mineral property bank, told investors on Thursday that it has consolidated its Silidor and New Marlon gold mine assets in Quebec. The group has now acquired the final claim covering the southern half of the New Marlon property, which lies northwest and adjoining the town of Rouyn-Noranda, the company said in a statement. This, along with Globex's previously held claims, consolidates the two assets. The property, which covers 293 hectares, includes two former gold mines and Globex said it has now completed a 25 metre line spaced aeromagnetic survey over the property. CytoDyn Inc (OTCQB:CYDY) has released an animation video to show how its investigational new drug, leronlimab, works to support immuno-oncology, the development of treatments that take advantage of the body's immune system to fight cancer. The Vancouver, Washington-based company is currently exploring the effectiveness of leronlimab in treating several immuno-oncology indications, including metastatic triple-negative breast cancer. It has also treated the first breast cancer patient in its Phase 2 basket trial for 22 solid cancer tumors. The phase Phase 2 basket trial is aimed at nearly 22 different solid tumor cancers — including melanoma, brain-glioblastoma, throat, lung, stomach, colon carcinoma, breast, testicular, ovarian, uterine, pancreas, bladder, among other indications — and includes 30 patients with CCR5+ locally advanced or metastatic solid tumors. NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) has hired experienced Fortune 500 executive Arnaud Amet to lead its new European division as director of sales. Based in Paris, Amet worked for Microsoft (NASDAQ: MSFT) for over a decade until 2015 and has experience with his own startup in sales and marketing of AR/VR to large brands partnering with the likes of Facebook (NASDAQ:FB) and Huawei. "The opportunity for our company to take the lead position in Europe is enormous and with Arnaud’s deep experience selling to tech titans like Microsoft, Samsung, Asus, Sony, Fujitsu and Toshiba I feel very confident in our future success in landing significant new business from Europe," NexTech CEO Evan Gappelberg said in a statement. Altamira Gold Corp (CVE:ALTA) (OTCPINK:EQTRF) (FSE:T6UP) revealed Thursday that its Cajuiero gold project in Brazil has been boosted as it secured approval for its plans to get power to the camp and processing plant. The state of Para's supplier Centrais Eletricas do Para (CELPA) has given the go-ahead for the firm's application to draw power from the existing transmission line by installing a 1.5 MW substation at the site, the group said. It will allow the company to use of up to 1.5MW of electricity, which will be enough to service the camp facilities and a 1,000 tonnes per day (tpd) plant. Detailed design plans for the substation which will be submitted to CELPA within the next 50 days, Altamira added. Vendetta Mining Corp (CVE:VTT) announced Thursday it has closed the final tranche of a total $811,572 non-brokered private placement that will help advance the development of its Pegmont Lead-Zinc project in Queensland, Australia. Under the final tranche of the placement, Vendetta issued 6,326,138 units at $0.04 apiece to raise gross proceeds of $253,045. Each unit was comprised of one common share and one purchase warrant exercisable for three years at a price of $0.06. Together with the proceeds from the first tranche, the Vendetta issued a total of 20,288,188 units. Vendetta also revealed that Jasmine Lau has resigned as its CFO, with Alastair Brownlow replacing her. New CFO Brownlow, a senior consultant with Red Fern Consulting Ltd, took over the post on June 23. Red Fern provides the company with accounting services. Endeavour Mining Corporation (TSE:EDV) (OTCQX:EDVMF) has completed its acquisition of gold producer SEMAFO Inc and unveiled a raft of management changes as a consequence. Shares of SEMAFO will be delisted from the Toronto stock exchange on or around July 6 and have been delisted from the OMX already. The group will become a subsidiary of Endeavour, the West Africa-focused miner said in a statement. Endeavour also noted that its board is now composed of nine members and with effect from July 1, Helene Cartier and Tertius Zongo, both nominees of SEMAFO, have become directors, while Olivier Colom and Wayne McManus have retired. Verde AgriTech Plc (TSX:NPK) (OTCQB:AMHPF) said that at its annual and special meeting of shareholders held on Tuesday, June 30, 2020, in Belo Horizonte, Brazil, its shareholders approved all items put before them. The director nominees were elected as directors of the company,; shareholders adopted the Directors’ Report, the Audited Statement of Accounts and the Auditors’ Report for the year ended December 31, 2019, and appointed BDO LLP as auditors of the company for the ensuing year. In addition, shareholders approved Verde's proposal to authorize the company’s directors to fix their remuneration and issuance of ordinary shares to directors and management. LiteLink Technologies Inc. (CSE:LLT) (OTCMKTS:LLNKF), a key player in logistics platforms and payment solutions has said that it will not file its audited financial statements for its fiscal year ended February 29, 2020, and the fifteen-month period ended February 28, 2019, together with its management discussion and analysis, by the filing deadline of June 29, 2020, due to recent global events pertaining to the coronavirus (COVID-19) pandemic. The company said it currently expects to file the required filings by August 7, 2020, and notes that management and other insiders are subject to a trading black-out policy. It also confirmed that there have been no undisclosed material business developments since the filing of LiteLink's condensed interim consolidated financial statements and associated management's discussion and analysis for the nine-month period ended November 30, 2019, that have not been otherwise disclosed. PyroGenesis Canada Inc. (CVE:PYR) (OTCQB:PYRNF) (FRA:8PY), a high-tech company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch systems announced today that it will continue to rely on a temporary blanket relief provided by the Canadian Securities Regulatory Authorities for the filing of their Financial Statements and Management’s Discussion and Analysis for the period ended March 31, 2020. As a result, PyroGenesis expects to file its Q1 2020 Filings on or before July 16, 2020. The company confirmed that since the press release dated June 2, 2020, there have been no material events that have not been publicly disclosed. OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, has announced Aurion Resources, Ltd. (CVE:AU) (OTCQX:AIRRF), a Canadian exploration company, has qualified to trade on the OTCQX and has upgraded from the Pink market. Jason Paltrowitz, EVP of Corporate Services at OTC Markets Group said: "Trading on OTCQX will allow Aurion Resources to efficiently expand access to its news and financial disclosure and demonstrate to investors that the company meets high financial standards and follows corporate governance best practices. We look forward to supporting Aurion Resources and its shareholders." Mike Basha, president of Aurion added: "We are pleased to join the OTCQX Market. Our current and future investors will benefit from a stronger and more efficient platform to trade within the US that also provides us with significant additional market exposure."
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