10.8 C
Los Angeles
Tuesday, December 6, 2022

NA Proactive news snapshot: Co-Diagnostics, PyroGenesis Canada, Water Tower Research, IEC Electronics UPDATE …

TechNA Proactive news snapshot: Co-Diagnostics, PyroGenesis Canada, Water Tower Research, IEC Electronics UPDATE ...

 

A glance at some of the day’s highlights from the Proactive Investors US and Canada newswires

() Inc posted second-quarter results that saw pre-tax income of $11.9 million and year-over-year revenue gains driven by sales of the company’s Logix Smart COVID-19 Test. For the period ended June 30, 2021, the Salt Lake City, Utah-based molecular diagnostics company reported revenue of $27.4 million, up 13.8% from the second quarter in 2020. The company’s gross profit for its 2Q increased 37.6% to $24.9 million, representing 90.8% of consolidated revenue due to “reduced production costs and improved product mix.” Co-Diagnostics reported net income of $9.8 million, or $0.33 per fully diluted share for the 2Q, compared to net income of $15 million, or $0.51 per fully diluted share in the same period in 2020.

PyroGenesis Canada Inc has finalized its strategic acquisition of AirScience Technologies Inc (AST) and its subsidiaries for an amended total cash purchase price of about $4.4 million. In a statement, PyroGenesis said the purchase price will be paid upon various contract and business-related milestones. Should any of the milestones not be reached within the next three years, the purchase price will be adjusted downward. AST, a Montreal-based company, offers technologies, equipment, and expertise in the area of biogas upgrading, as well as air pollution controls.

, an equity research firm using innovative tools to communicate and educate investors issued an updated note on Capstone Green Energy, following the latter’s fiscal 1Q 2022 revenue increase. In its 1Q22 earnings results, the company reported a 13.3% revenue bump, “despite ongoing [coronavirus] COVID-19 and supply chain challenges.” The provider of customized microgrid solutions and on-site energy technology systems designed to help customers meet their carbon reduction, energy savings and resiliency goals, also announced its plans to launch a 30% hydrogen product during the fiscal 2022 year.

() Corp said it has signed a definitive merger agreement with Creation Technologies Inc, that will see the latter acquire all outstanding shares of IEC. Creation has agreed to pay $15.35 per share in cash, which represents a fully diluted equity value of approximately $173.8 million and an aggregate enterprise value of $242.3 million, based upon net debt of $68.6 million. Additionally, IEC also released its fiscal 3Q results for the period ending July 2, 2021. The company reported revenues of $49.4 million for the third quarter of fiscal 2021, an increase of 4.2% compared to revenues of $47.4 million for the same quarter last year.

() Technologies Corp has acquired Stratum Health Solutions LLC from RTAE Holdings LLC. Stratum operates HealthCheck, an encrypted wellness tracking and analytics tool with 1,000-plus current customers, including over 50,000 users within Atlanta Public Schools across 91 learning sites. HealthCheck is a secure, cloud-based platform that allows organizations of all sizes to track and evaluate employee and student health as well as coronavirus (COVID-19) related symptoms in real-time through an app.

(, ) Ltd, and its subsidiary companies doing business as Luckbox, said it has partnered with Bambora to add its PaymentIQ gateway to the Luckbox platform. Real Luck noted the agreement is designed to drive revenue by delivering Luckbox players frictionless deposit options.

() saw its total revenue increase to US$14.3 million during its second-quarter as its royalty portfolio continued to improve. The 2Q figure was up from the $11 million it delivered in the same quarter in 2020, a 30.4% increase. The firm posted net income of US$3.7 million or $0.03 per share, also higher than the $3 million figure ($0.03 per share) it saw in the same period a year earlier.

() announced that a new patent has been filed for its proprietary process of manufacturing silicon (Si) anode active materials. The company said the patent will extend the protection related to the Si nanocoating process by the single-step, one-pot solution process, which was originally developed by NEO. This applied patent joins a family of related patents already issued and applied for the unique and cost-effective process by NEO’s one-pot process. To date, the company retains five patents on the Si nanocoating process.

Phoenix Gold Fund Limited has acquired an aggregate of 11,500,000 common shares at an average price of $0.13 and 5,750,000 common share purchase warrants of Unigold Inc on August 10, 2021 pursuant to a non-brokered private placement. Phoenix acquired the common shares at a price of C$0.13 per share for a total purchase price of C$1,495,000. As a result of the acquisition, Phoenix now owns 12,502,500 common shares and 5,750,000 common share purchase warrants of Unigold, representing approximately 8.02% of all issued and outstanding shares of the company on an undiluted basis.

The Canadian Securities Exchange (CSE) heralded a new milestone in its corporate listings growth, which continues to lead all Canada-based stock exchanges as it announced its market statistics for the month of July 2021. The CSE said there were 18 new listings in the month, bringing total listed securities on the exchange to 696 as of July 31, 2021. The aggregate market value of CSE issuers was $59.4billion as of July 31, 2021, compared to $42.1 billion at year-end 2020. Trading volume of CSE-listed securities in July totaled 2.3 billion shares and the trading value of CSE-listed securities was $1.7 billion.

() has signed a Memorandum of Understanding (MOU) to acquire Antics Gaming LLC, a Las Vegas-based developer of skill-based games for Android and iOS platforms. In a statement, Royal Wins said the acquisition of Antics is the first in a series of expected acquisitions to build and grow its business model and will be a significant building block in the company’s global development strategy. Also, the company anticipates that the purchase of Antics will include intellectual property, patent and trademark assets, and the assumption by Royal Wins of Antics’ ongoing working relationships with Samsung, (), and Skillz Inc.

(, ). said it has signed an online distribution agreement with Walmart.com and will be expanding into Walmart’s eCommerce marketplace by Q4, 2021 with its Plant-Based Complete Nutrition products for Toddlers. “Entering Walmart.com is a highly significant milestone for the Company,” said Hamutal Yitzhak, CEO and co-Founder of Else Nutrition in a statement. “The sheer size of Walmart.com will allow us to reach thousands of new families and enable us to scale significantly over the next 3 years,” she added. According to eMarketer, Walmart’s US eCommerce sales prior to the pandemic were $30 billion and are projected to hit over $64 billion by the end of 2021.

Zoglo’s Incredible Food Corp. said it has appointed award-winning chef Pino Di Cerbo as its chief culinary officer. In a statement, the company said Chef Pino will guide the development of quality plant-based food products, design recipes, and enhance consumer engagement. Inspired by his mother’s homemade Italian cooking, Chef Pino rose to prominence in 2014, placing 6th in CTV’s MasterChef Canada’s inaugural season, establishing himself as a fan favourite and went on to win the subsequent MasterChef Canada Holiday and All-Star: Family Edition specials.

() has announced plans to tie-in the 3-26 well in West Pepper, Alberta, which has the potential to produce natural gas. The Calgary-based company said it is beginning the process to tie-in the behind-pipe natural gas from the exploration well after a February 2021 independent engineering report estimated an initial production rate of 5.5 million standard cubic feet per day (scf/d) from the well. Other findings from the preliminary report, which was not prepared in accordance with NI 51-101 reserve reporting requirements, include estimated onstream costs of around C$1.3 million and “rapid” payback of the tie-in costs and positive cash flow, according to Arrow.

() Vehicles Corp, a Canadian electric vehicle designer and manufacturer, posted second-quarter results that demonstrated that it is well capitalized and in a strong financial position with over $250 million on its balance sheet to forge ahead with the buildout of its US Assembly and Engineering Technical Center in Mesa, Arizona. For the period ended June 30, 2021, the carmaker had cash, equivalents and short-term deposits totaling $250 million, compared to $129.5 million as of December 31, 2020. During the quarter, the company’s net cash decreased by $10.3 million, which was a result of net cash used in operating activities of $9.4 million and net cash used in investing activities of $1.4 million, offset by net cash provided by financing activities of $456,000.

() Limited reports that it ended its second quarter with a strong balance sheet with about $27.9 million in cash and cash equivalents. The epigenetics company, which had a balance sheet of $19.4 million as of December 31, 2020, said it continued to manage expenditures carefully with a cash burn rate of about $2 million per month. It added that it raised $900,000 during the quarter ended June 30, 2021, in an at-the-market equity distribution program.

(, , , ) (TSX-V:THX, AIM:THX, OTC:THXPF, ) released a new round of drill results from its Makosa North prospect in Senegal that revealed more about the Douta gold project’s potential. In a statement, Thor told investors that wide-spaced exploratory drill sections around 1,300 metres (m) north of the last line of drilling indicate that the gold mineralization continues to the north. Thor added that the mineralization remains open-ended.

Empress Royalty Corp said it has received its first revenue from the Sierra Antapite gold mine in Peru. The revenue is part of a US$10 million gold stream agreement with Sierra Sun Group, signed on July 28, 2021, on the payable gold production from the Sierra Antapite mine at 20% of the gold spot price.

(, ) Inc. has granted incentive stock options authorizing the purchase of 585,600 common shares to officers, directors and consultants of the company. The options are exercisable at $0.37 per share for a period of three years from the date of grant. The options have been granted under and are governed by the terms of the company’s incentive stock option plan and are subject to TSX Venture Exchange acceptance.

(, , ) has unveiled its recently completed results from an ongoing drill program at its flagship asset, the Thunder Bay North project in Ontario. The assays reconfirm the polymetallic nature of the deposit, with the company’s primary focus being () Group Metals (PGM). Hole CL21-004 from the Current Lake Deposit infill program was especially promising, the hole intersected 13 meters (m) grading at 2.9 grams per tonne (g/t) palladium equivalent (PdEq) and was composed of 0.96 g/t palladium, 1.03 g/t (), 0.30% copper and 0.25% nickel from 168m – 181m downhole.

() () applauded the US Senate for passing the bipartisan Infrastructure Investment and Jobs Act which includes a heavy emphasis on electric vehicle and green energy industry investments. The company, which is in the process of changing its name to American Battery Technology Company (ABTC) praised the $1 trillion cash infusion that will revitalize, fortify and strengthen the nation’s infrastructure. In the budget which passed through Senate on Tuesday, $7.5 billion has been earmarked to build a national framework of charging networks for electric vehicles.

Alkaline Fuel Cell Power Corp, which is focused on the design, development and commercialization of alkaline fuel cell heat and power systems, said it is “exceptionally well-positioned” to target the residential and small to medium-sized power markets in Europe and around the world. “Our hydrogen-powered alkaline fuel cell technology is being positioned to offer all of Europe an energy source that generates zero CO2 emissions with pure water as the only by-product,” said Alkaline Fuel Cell Power CEO Jef Spaepen in a statement. With technology originally derived from the European Space Agency, Alkaline Fuel Cell Power has been able to develop a fuel cell that is smaller in size and scalable because of fewer operating inputs and the absence of noble metals, which include high-value, high-cost ()-group metals.

Mandalay Resources Corporation has reported second-quarter 2021 revenue of US$51.4 million, the company’s second-highest quarterly sales results since 2Q 2016 and a 21% increase from the same period last year. Mandalay also realized US$11.5 million, or $0.13 per share, in adjusted net income during the quarter, its sixth consecutive quarter of profitability. “Mandalay Resources is pleased to deliver strong financial results for the second quarter of 2021, as the company continues to execute against our operational strategy and is on track to attain our 2021 production and cost guidance,” Mandalay Resources CEO Dominic Duffy said in a statement.

NexTech AR Solutions Corp. has reported its financial and operating results for the second quarter of 2021 which showed the company had cash on hand of $15.4 million as of June 30, 2021. The company reported revenue of $6.1 million for the three months to June 30, 2021, an increase of over 73% compared to $3.5 million posted for the same period in 2020, while gross profit was $2.3 million, an increase of over 6% compared to the $2.2 million reported for the same period in 2020. For the six months ended June 30, 2021, Nextech’s revenue increased by 130% to $13.8 million compared to the same six months period in 2020, while gross profit increased by 59% to $5.6 million over the same period in 2020.

(, ) has revealed that its MiQLab System is the first “point-of-need” instrument that can be configured to perform polymerase chain reaction (PCR) tests using either “probe-based chemistry, or SYBR Green chemistry coupled with melt curve analysis.” In a statement, Dr Nathan Walsh, VP of Applications and Informatics at LexaGene, said: “Traditional real-time PCR uses expensive hydrolysis probes that have long lead times for manufacturing, whereas SYBR Green-based PCR uses inexpensive primers that have much shorter lead times. The coronavirus (COVID-19) pandemic has caused massive delays in the manufacturing and delivery of the PCR probes used in diagnostic testing. In many cases, these delays were sometimes greater than 8 weeks, which created shortages that prevented the running of some testing platforms.”

MedX Health Corporation has announced the appointment of Sylvain Desjeans as the company’s president and chief executive officer with immediate effect. With more than 30 years of healthcare and pharmaceutical industry experience, Desjeans has served in successively senior roles at organizations such as () Canada, Accucaps Industries Limited and Biovail Pharmaceuticals. He has a long track record of successfully executing large-scale growth plans and global product licensing initiatives. Desjeans joined MedX on May 5, 2021, as chief revenue officer, and has been working on the company’s market opportunities, including the application of the MedX Dermsecure platform’s artificial intelligence features, as well as initiatives focussed on revenue generation.

(, , ). has announced that its management is not aware of any undisclosed material information relating to the company that may be contributing to the recent increase in its trading activity.

MedX Health Corp said the TSX Venture Exchange has accepted for filing the company’s proposal to issue 360,000 common shares at a deemed value of 20 cents per to settle outstanding debt for $72,000 with one creditor

(, ) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement which will see the issue of 4.35 million shares at a purchase price of 20 cents per share, together with 4.35 million share purchase warrants with an exercise price of 30 cents for a one-year period with 36 placees.

Midwest Energy Emissions Corp. – () – has announced that its management will present at the Q3 Virtual Investor Summit, taking place August 17-18, 2021. The company said Richard MacPherson, its president and chief executive officer is scheduled to participate in one-on-one meetings with investors throughout the event and will host a virtual presentation on Wednesday, August 18, 2021, at 9.30am Eastern time via the following registration webcast link: https://zoom.us/webinar/register/WN_gBk7hdw1R0i175M1yx6MAA. Registration is mandatory for conference participation.

() has announced that it will present at the Q3 Virtual Investor Summit, hosted by the Investor Summit Group, on August 18, 2021. Michael Mo, KULR chief executive officer is scheduled to present on Wednesday, August 18, 2021, at 1.15pm Eastern time and will participate in one-on-one meetings with investors throughout the event. The presentation will be webcast live and an archived webcast of the presentation will be made available at www.investorsummitgroup.com and on KULR’s website at https://kulrtechnology.com/category/presentations. Registration is mandatory for conference participation.

(), Inc. has announced that its chief executive officer, Saiid Zarrabian, will present at the Investor Summit Conference being held August 17-18, 2021. The company said Zarrabian will deliver his corporate presentation on August 17, 2021 at 12.30pm ET. Investors can also request a one-on-one meeting with Zarrabian to be arranged following the conclusion of the conference. Investors can register for the conference via the following link: https://www.meetmax.com/sched/event_74699/investor_reg_new.html?attendee_role_id=ISG_INVESTOR

(). has announced that the company’s CEO, Omri Brill will be presenting at the Q3 Virtual Investor Summit on August 18, 2021, at 08.45am ET. To register for the summit, investors can use the following link: https://zoom.us/webinar/register/WN_QJIpRplsTECy321jVufg3Q

() has announced that (), a Canadian focused company with a pipeline of projects in various stages of development, has qualified to trade on the OTCQX Best Market and has today upgraded from the OTC Pink market. Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their US investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the US To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. Duncan Middlemiss, president and CEO commented: “We are pleased to have achieved this milestone and to commence trading on OTCQX. Joining the market is expected to enhance our liquidity and visibility in the US market and provide access to a broader set of investors.”

Check out our other content

Check out other tags:

Most Popular Articles