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NA Proactive news snapshot: Vuzix Corporation, American Rebel, Canada Silver Cobalt, Aequus Pharmaceuticals UPDATE …

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

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Vuzix Corporation (NASDAQ: VUZI) announced Friday it has received a follow-on order from a major US defense contractor to further develop a customized waveguide-based head-worn AR Display Engine. The order represents the second phase of the development effort, which was first announced in March 2020. Phase 2 will generate additional non-recurring engineering (NRE) revenue in the lower six figure range for Vuzix over the coming months. with potentially further NREs in subsequent phases before a possible customer acceptance of a final product design that could lead to an eventual production program.

American Rebel Holdings Inc (OTCQB:AREB) and David Starr Racing announced on Friday that NASCAR veteran David Starr will be back behind the wheel of the No. 07 American Rebel Chevy Camaro this weekend at Kansas Speedway for the Kansas Lottery 300. "A huge thank you to American Rebel for their support this weekend and to Bobby Dotter and SS Green Light Racing for the opportunity to pilot the American Rebel No. 07 Chevy," said Starr, a NASCAR Xfinity Series driver.NBC Sports Network will relay the opening event of the Round of 8 for the NASCAR Xfinity Series Lottery 300 at Kansas Speedway at 7 pm ET/ 6 pm Central on Saturday, October 17.

Canada Silver Cobalt Works Inc (CVE:CCW) (OTCMKTS:CCWOF) says it is making progress in its bid to build a ramp at its Robinson zone project - part of its 78-square-kilometre (sq km) Castle Silver mine property in Ontario. As reported last month at least four new mineralized veins have been identified at Robinson in just the first 9,000 metres (m) of a 50,000m program at the property. The exploration area the company has targeted has also been enlarged up to 135m east-west, up to 100m north-south and up to 256m vertically – resulting in a 500% increase in the known mineralized area.In a statement on Friday, the firm said it was now advancing environmental studies, site development, First Nations consultations, and exploration at the Robinson zone.

Aequus Pharmaceuticals Inc (CVE:AQS) (OTCQB:AQSZF) (FRA:AEQ) said on Friday that it has agreed to an extension of terms for its promotional service agreement on the Sandoz drug tacrolimus immediate-release (tacrolimus IR), which is used to prevent patient rejection after organ transplants. The Vancouver-based company said that it has extended its commercial agreement on tacrolimus with Sandoz Canada Inc to December 31, 2021. A trio of drugs including tacrolimus currently form the core of the Canadian company’s business.  In December 2015, Aequus said it began promoting Sandoz’s generic tacrolimus, a transplant therapy which aims to treat and prevent acute rejection following an organ transplant. Tacrolimus has since achieved “over 10x growth” in Canada through increased brand awareness and new patient adoption programs, according to the company.

Trutrace Technologies Inc’s (CSE:TTT) (OTC:TTTSF) stock has been reinstated for trading on Canadian Securities Exchange (CSE). According to a CSE bulletin on Friday, the company “has rectified the default situation that gave rise to the suspension.” The exchange issued the cease trade order on the delayed filing of the company’s first-quarter financial report. 

Fury Gold Mines Ltd (TSE:FURY) (NYSEAMERICAN:FURY), a new Canadian explorer, which was formed when Auryn Resources Inc reorganized and merged with Eastmain Resources Inc,  has earned a 'Buy' rating from Roth Capital markets. The firm converted its coverage of Auryn into coverage of Fury Gold following the transaction and tagged the company with an inaugural price target of C$2.70, implying 41% upside on Thursday’s closing price of C$1.91. “While technically Fury Gold is a name and ticker change from its predecessor company Auryn Resources, we believe the significant changes to the company make a comparison to our prior estimates unjustified,” Roth wrote. “Instead, we have completed a sum of the parts analysis on Fury's assets and are issuing an initial price target of $2.70 and a Buy rating.”

Silver Range Resources Ltd (CVE:SNG) announced Friday that airborne geophysical surveys have been completed in Nevada over the Enigma Property near Pine Grove in Lyon County and over the Bellehelen Project in Nye County. In a statement, the company said airborne total magnetic field and radiometric surveys were conducted in a timely, efficient, and cost-effective manner by Precision Geosurveys Inc of Vancouver, British Columbia  -- as part of an on-going series of surveys they are conducting in western Nevada and Arizona.

Telson Mining Corporation (CVE:TSN) (OTCMKTS:SOHFF) has revealed that, despite challenges earlier in the year, its Campo Morado mine in Mexico is now running at full capacity and achieved strong output in September. Posting preliminary production figures for its third quarter to September 30, 2020, the miner said the final month of the quarter saw 52,352 tonnes of material processed, which resulted in 3,123 tonnes of zinc concentrate and 671 tonnes of lead concentrate being produced for the month. Across the quarter as a whole, the firm processed 127,438 tonnes and to underline how September improved, the figure for August was 38,370 tonnes, while in July it was around 36,716 tonnes milled.

InnoCan Pharma Corporation (CSE:INNO) (FRA:IP4) said that it has completed a cosmetic clinical study that showed a dramatic 90% to 95% reduction in facial skin wrinkles after a group of study participants used the company’s SHIR Premium CBD Facial Serum for a period of 28 days. The company said a group of 20 volunteers applied SHIR InnoCan Pharma Facial Serum, which has 300 milligrams of cannabidiol, on a sustained basis twice a day for 28 days and saw very positive results. An overwhelmingly high percentage of volunteers saw a more even skin tone and a depigmenting effect after using the product. "The skin was also more moisturized," according to the clinical results. "Achieving these amazing results is due to the combination of active ingredients with a specific amount of CBD, which results in tremendous facial skin improvement,” Innocan CEO Iris Bincovich said in a statement.

Bragg Gaming Group Inc (CVE:BRAG) (OTCMKTS:BRGGF) (FRA:SL4A) said Friday its ORYX Gaming unit has teamed up with Iforium to provide its exclusive RGS content on the supplier's Gameflex aggregation platform. Iforium is presently licensed and regulated in the UK, Romania, Malta, and operating under Transactional Waiver from New Jersey gaming authorities. Iforium’s Gameflex platform has an international footprint across 16 regulated markets in Europe, US, and Latin America.

Silvercorp Metals Inc (NSYEAMERICAN:SVM) (TSE:SVM) (FRA:S9Y) has confirmed it is on track to meet its production guidance for fiscal 2021 as the firm reported a solid set of second-quarter numbers. The China-focused underground mine operator told investors it generated around 1.7 million ounces of silver, 1,100 ounces of gold, 19.1 million pounds of lead, and 7.1 million pounds of zinc in the three months to September 30.

Calyxt Inc (NASDAQ:CLXT), a plant-based technology company based in Minnesota, announced Friday a $15 million registered direct offering. In a statement, the company said it intends to use the net proceeds for general corporate purposes and to support the execution of its streamlined business model.  It will also use the money to advance its current product development pipeline as well as its TALEN technology and intellectual property portfolio. 

Fura Gems Inc (CVE:FURA) (OTCMKTS:FUGMF) (FRA:BJ43) told investors it had successfully negotiated a 30-year extension to the Colombian emerald mining licence, which hosts the Coscuez emerald mine in Boyacá. The gemstone group holds a 76% indirect equity interest in Coscuez S.A. (Coscuez), the firm, which holds 100% of the licence.

VolitionRx Limited (NYSEAMERICAN:VNRX) will present a pair of abstracts with study data about its Nu.Q Vet Cancer Screening Test at the 2020 Veterinary Cancer Society (VCS) Virtual Annual Conference. The abstracts cover Nu.Q’s ability to detect lymphoma and hemangiosarcoma, two common canine cancers, in studies carried out at Texas A&M University. The lymphoma presentation is scheduled for 1:30 pm ET on Friday, and the hemangiosarcoma presentation is scheduled for 11:15 am ET on Saturday.

Nabis Holdings Inc. (CSE:NAB) (OTCMKTSNABIF) (FRA:A2PL) announced that it has commenced civil proceedings in the Arizona Superior Court and the Ontario Superior Court of Justice, both against Mark Krytiuk, the company's former Director, President and Chief Operating Officer. Nabis said it has taken these actions as a result of the failure by Krytiuk to transition control of material assets of Nabis back to the company following his recent resignations. As a consequence of his role as a fiduciary of Nabis, Krytiuk is the sole director of Perpetual Healthcare, Inc., the operator of the Emerald medical marijuana retail dispensary located in Arizona in which Nabis has a material contractual interest.  The group noted that Krytiuk has refused to transfer the directorship of Perpetual as instructed by Nabis and has also failed to return other property belonging to Nabis following his resignations from the company.  Until such time as a new director of Perpetual acceptable to Nabis is appointed, the company has no ability to influence the business and affairs of Perpetual. The company said it will provide further updates in respect of these civil proceedings as they progress.

Media Central Corporation Inc. (CSE:FLYY) (FRA:3AT) said that on October 13, 2020, the company and Varipay Inc. mutually agreed to not proceed with the Letter of Intent (LOI) as announced on October 2, 2020. The group noted that the LOI contained a number of conditions that MediaCentral and Varipay had agreed to. The company was informed that certain conditions would not be met leading to the mutual termination of the proposed transaction.

Media Central also announced that it has received a request from certain minority shareholders to hold a special meeting of shareholders pursuant to subsection 105(1) of the Business Corporations Act (Ontario). The group said the stated intention of the meeting is to replace the company's current board of directors. MediaCentral added that it is currently reviewing the requisition and will update all shareholders as required. There is no action for shareholders to take at this time, it said.

The Globe and Mail said that Haywood Securities analyst Kerry Smith has begun coverage of Nomad Royalty Company (TSE:NSR) (OTCMKTS:NSRXF)) with a 'buy' rating and a $2.25 share target. The newspaper reported that in a note to clients, Smith said: "Nomad holds a portfolio of eleven precious metals royalties and streams plus a gold prepay loan and one commercial production payment, which includes six assets that are currently in production, one that is on C&M and one that is expected to be in production late this year or early 2021. Nomad is one of the newest players in the precious metals' royalty space, led by a team with significant experience from their tenure with Osisko Royalties. Nomad is focused on free cash flow generation from precious metals royalties and streams, is targeting the lowest G&A in the sector and has already declared an inaugural annual dividend of two cents per share, payable quarterly as of October 15, 2020, for an implied yield of 1.4 per cent, versus the peer average of 0.9 per cent." The paper said the analyst concluded that: "Nomad has tremendous potential."

Gungnir Resources Inc (CVE:GUG) said the TSX Venture Exchange has accepted for filing documentation with respect to its non-brokered private placement, announced on September 14, 2020, which will see the issue of 10 million shares at a purchase price 6 cents each together with 10 million share purchase warrants with an exercise price of 9 cents for a three-year period with four placees

CytoDyn Inc. (OTCQB:CYDY), a late-stage biotechnology company developing leronlimab (PRO 140), a CCR5 antagonist with the potential for multiple therapeutic indications, has announced that Nader Pourhassan, the group's president and chief executive officer, Scott Kelly, its chairman, chief medical officer and head of Business Development, and Jacob Lalezari, its senior science advisor, will host an investment community webcast on Tuesday, October 20, 2020, 1.00pm PT / 4.00pm ET. The group's management will discuss the recommendations of the Data Safety Monitoring Committee (DSMC) following their review of the interim analysis of the first 195 patients enrolled in the company’s Phase 2b/3 clinical trial for patients with severe-to-critical coro0navirus (COVID-19) indications, including a potential regulatory path forward. They will also present slides during the webcast followed by approximately 30-45 minutes to address questions submitted online by analysts and investors. This is a “listen-only” webcast, which can be accessed via CytoDyn’s corporate website at www.cytodyn.com under the Investors section/IR Calendar and will be archived for 30 days. The webcast can also be accessed via the following link: https://78449.themediaframe.com/dataconf/productusers/cydy/mediaframe/41443/indexl.html. The replay will be available approximately 60 minutes after the conclusion of the webcast and can be accessed via the above link until November 20, 2020.

Quick facts: Telson Mining Corporation

Price: 0.24 CAD

TSX-V:TSN
Market: TSX-V
Market Cap: $43.86 m
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