DENVER, Colo., October 8, 2019- (24/7MarketNews via COMTEX) Venture Market News for October 8, 2019.
Kraig Biocraft Laboratories Launches Spider Silk Production Scale up with New Delivery of Silkworms to Prodigy Textiles
ANN ARBOR, Mich., – Oct 8, 2019 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, is very happy to announce today that the Company has officially initiated commercial production scale up of its recombinant spider silk production at its Vietnamese subsidiary, Prodigy Textiles. During a trip this week Jon Rice, the Company’s chief operating officer, successfully delivered the Company’s specialized silkworm eggs to the production team, at Prodigy Textiles’ recently renovated factory. This moment marks a pivotal milestone in the commercialization and production of eco-friendly and cost effective recombinant spider silk.
K92 Mining Announces Third Quarter Results From the Kainantu Gold Mine With Gold Equivalent Production 14% Above Budget
Third Quarter (“Q3”) 2019 Production highlights include:
- Q3 production of 18,636 oz of gold, 209,287 lbs copper and 5,284 oz silver for a total of 19,170 gold equivalent (“AuEq”) oz.
- Tonnage treated through the process plant was 32,094 tonnes, at an average grade of 19.19 g/t gold and 0.32% copper, achieving recoveries of 94.1% for gold and 92.1% for copper.
- Kainantu Mine added another quarter without any lost time injuries (LTI’s), increasing the record to 1,216 LTI free days.
- Production for the first three quarters of 2019 is a record of 56,741 oz of gold, 735,160 lbs copper and 17,742 oz silver for a total of 58,610 AuEq oz.
- Q3 AuEq production exceeded budget by 14% despite a number of interruptions necessary for the completion of key upgrades for the current expansion project. These include mine infrastructure, installation of gravity circuit and the main incline debottlenecking program consisting of three bypasses. These upgrades have well positioned Kainantu through year-end.
VANCOUVER, British Columbia, Oct. 08, 2019 (GLOBE NEWSWIRE) — K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce production in the third quarter (“Q3”) exceeded budget by 14%, with 19,170 oz AuEq produced for the quarter at its Kainantu Gold Mine in Papua New Guinea.
Ahold Delhaize share buyback update
Zaandam, the Netherlands, October 8, 2019 – Ahold Delhaize has repurchased 1,013,650 of Ahold Delhaize common shares in the period from September 30, 2019 up to and including October 4, 2019. The shares were repurchased at an average price of €22.77 per share for a total consideration of €23.1 million. These repurchases were made as part of the €1 billion share buyback program announced on November 13, 2018.
Cresco Labs Announces Closing of Acquisition in New York State
Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CSE: CL) (OTCQX: CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that it has closed its acquisition of 100% of the membership interests of Gloucester Street Capital, LLC (“Gloucester”), the parent entity of Valley Agriceuticals, LLC (“Valley Ag”) via a merger between Gloucester and a subsidiary of Cresco Labs. As a result of this acquisition, Cresco Labs now holds one of the 10 vertically integrated cannabis business licenses granted in the State of New York by the New York State Department of Health. Each license gives the operator the right to operate one cultivation facility and four dispensaries in New York. The New York market is projected to grow to $500 million by 20221.
Lexaria Bioscience Provides Update on R&D Program Progress under License Agreement with Altria
KELOWNA, BC / ACCESSWIRE / October 8, 2019 / Lexaria Bioscience Corp. (OTCQX:LXRP) (CSE:LXX) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, is pleased to provide this update on the ongoing relationship and pursuit of innovation in oral, reduced risk nicotine consumer products using Lexaria’s patented DehydraTECHTM technology, underway between Altria Ventures Inc., an indirect wholly owned subsidiary of Altria Group, Inc (NYSE:MO) (“Altria”) and Lexaria’s majority owned subsidiary Lexaria Nicotine LLC (“Lexaria Nicotine”).
MedMen Announces Termination of Merger Agreement With PharmaCann and Management Changes
MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) (“MedMen” or the “Company”), a leading cannabis retailer with operations across the U.S., today announced the mutual agreement to terminate the Business Combination Agreement dated December 23, 2018, pursuant to which MedMen was to acquire PharmaCann, LLC (“PharmaCann”) in an all-stock transaction (“Transaction”). In light of market developments over the past 12 months and the continued evolution of its business strategy, MedMen and its Board have determined that focusing on leveraging the Company’s retail brand, its leadership position in California, and its digital platform to grow the business will create greater shareholder value than the completion of the Transaction. In connection with the termination, PharmaCann has agreed to transfer certain cannabis licenses and related assets in Illinois and Virginia to MedMen for no additional consideration from MedMen, other than the forgiveness of certain debt, as further described below.
Sproutly Provides Business Update on the Moosehead Joint Venture for Cannabis Beverages
Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly” or the “Company”) is pleased to provide an update on: 1) its previously announced joint venture with OCC Holdings Ltd., an affiliate of Moosehead Breweries Limited (“Moosehead”) (the “Joint Venture” or, the “JV”); and, 2) in respect of progress made to-date in the development of cannabis-infused beverages intended for sale in the Canadian market via Toronto Herbal Remedies Inc. (“THR”), Sproutly’s Health Canada licensed cannabis producer (the “Infused Beverages”).
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