A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Cannabis One Holdings Inc (CSE:CBIS) (OTCMKTS:CAAOF) announced Tuesday that it has executed a definitive purchase agreement to acquire Colorado-based Cannabis Corp. which will transform the group into a fully-licensed cannabis operator. Cannabis Corp. holds the licenses and cannabis inventory assets of the Fox Street and Kingston cultivation facilities, as well as the award-winning "The Joint" dispensary in Denver, Colorado. The consideration payable to Cannabis Corp shareholders in connection with the transaction will be US$1,800,000 (C$2,500,000) in Class B super voting shares of Cannabis One at a per CBIS super-voting share price of $1.289 (equivalent to $0.1289 per Class A subordinate voting share) equaling 1,938,974 Class B super voting shares of Cannabis One.
Kincora Copper Ltd’s (CVE:KCC) ongoing drilling campaign at the Trundle copper-gold porphyry project in New South Wales, Australia has gone two from two. On May 19, the company revealed that it had intersected multiple mineralised skarn zones in core from the first of its drill holes into Trundle, at the southern Trundle Park skarn-porphyry target. Fast forward three weeks and the core from the second hole has now been received and reviewed. Kincora has put out some further visuals and it too is showing significant mineralisation, this time at the Mordialloc porphyry target. Although the proof will ultimately lie in the assay testing, and it is still early in Kincora’s maiden drill program at Trundle, both holes look very promising.
Canafarma Hemp Products Corp (CSE:CNFA) has revealed it is teaming up with private drugs group PharmOps to develop a bioequivalent drug to Hydroxychloroquine amid the coronavirus (COVID-19) pandemic. In April this year, Canafarma inked a letter of intent to buy PharmOps and its 25,000 square foot nutraceutical manufacturing facility in New Jersey. The hemp product-focused group told investors that as due diligence continues on that acquisition, the pair have also agreed to work together to develop a bioequivalent material to Hydroxychloroquine - a drug, which US President Donald Trump has been an advocate of amid the battle against the virus.
American Manganese Inc (CVE:AMY) (OTCPINK:AMYZF) has reported highly positive news on the development of its recycling pilot plant after engineering work that has increased its processing capacity. In May this year, the firm announced the launch by its contractor Kemetco of optimization tests in a bid to upgrade the plant, which extracts cathode materials, such as lithium, cobalt, nickel, and manganese at battery-grade purity from spent batteries. "As a result of the upgrades, the pilot plant capacity was successfully increased from 64 kg/day to 160 kg/day, without sacrificing the recovery potential of cobalt, lithium, nickel, manganese, and aluminum," American Manganese said in a statement on Tuesday.