Proactive - Interviews for investors

Tonix Pharmaceuticals CEO Dr. Seth Lederman joined Steve Darling from Proactive to share exciting news about a significant achievement for the company. Tonix Pharmaceuticals has been awarded a potential contract worth up to $34 million over five years by the Defense Threat Reduction Agency (DTRA), an agency within the U.S. Department of Defense. This contract aims to develop small molecule broad-spectrum antiviral agents for the prevention or treatment of infections, thereby enhancing the medical readiness of military personnel in biological threat environments.

Dr. Lederman explained that Tonix’s program will concentrate on the optimization and development of its TNX-4200 program. The goal is to develop an orally available CD45 antagonist with broad-spectrum efficacy against various viral families through extensive preclinical evaluation. The program is expected to establish essential physicochemical properties, pharmacokinetics, and safety attributes to support an Investigational New Drug (IND) submission, ultimately funding a first-in-human Phase 1 clinical study.

The agreement with DTRA is a strategic move to address the DoD’s objective of protecting U.S. Joint Forces from potential biological weapon threats. The DoD announced in December 2022 that it aims to move beyond the traditional ‘one bug, one drug’ approach and is seeking broad-spectrum drugs, as predicting which viruses or how many may be deployed in a biological threat scenario is challenging.

Dr. Lederman emphasized that the collaboration with DTRA underscores Tonix Pharmaceuticals' commitment to advancing medical readiness and protection for military personnel. By developing a broad-spectrum antiviral agent, Tonix aims to provide a versatile and robust solution to potential viral threats, enhancing the preparedness and resilience of the U.S. military in diverse and unpredictable biological threat environments.

The TNX-4200 program’s focus on creating an effective, orally available antiviral agent highlights Tonix’s innovative approach to addressing complex medical challenges. The successful development of this broad-spectrum antiviral could significantly impact the way viral infections are managed in military and potentially civilian populations, offering a proactive measure against a wide array of viral threats.

Tonix Pharmaceuticals continues to be at the forefront of medical innovation, dedicated to developing cutting-edge solutions that meet the evolving needs of the healthcare and defense sectors. The support from the DoD through this substantial contract is a testament to the potential and importance of Tonix’s TNX-4200 program in safeguarding the health and readiness of military personnel against biological threats.

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Regency Silver Corp Executive Chairman Bruce Bragagnolo joined Steve Darling from Proactive to announce that the company has successfully arranged a non-brokered private placement, subject to regulatory approval, for gross proceeds of up to 2.5 million dollars. This significant financing effort underscores the company's commitment to advancing its exploration activities.

Bragagnolo expressed the company's excitement about continuing their drilling program at the Dios Padre project. The drill crew is set to mobilize immediately upon the closure of this financing round. He highlighted that the drilling results to date have been promising, indicating the presence of a high-grade, high-sulphidation gold-copper-silver system that is proximal to a porphyry source.

Previous drill results have been particularly encouraging. Hole REG-23-21 intersected 54.65 meters of 5.34 g/t gold, including a notable 7.36 g/t over 38 meters in a 65-meter step-out along strike to the southeast from the discovery hole REG-22-01. The discovery hole itself had returned impressive figures of 35.8 meters of 6.84 g/t gold, 0.88% copper, and 21.82 g/t silver. Additionally, Hole REG-23-14 intersected 35.9 meters of 5.51 g/t gold.

These results continue to bolster Regency Silver Corp's confidence in the Dios Padre project's potential. The company is poised to further explore and validate this promising high-grade mineralization system, aiming to capitalize on its substantial economic potential. The successful completion of this financing will enable Regency Silver Corp to advance its drilling activities and continue generating value for its shareholders.

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Proactive's Billy Farrington looks at significant developments impacting Bitcoin and the broader crypto market. A key topic discussed was the assassination attempt on presidential nominee Donald Trump, which led to a notable economic reaction. Dubbed the "Trump trade," this event caused a surge in Bitcoin's value, attributed to Trump's pro-crypto stance. Bitcoin saw a 12% increase, trading around $63,100, despite some midweek declines.

Farrington noted the uncertainty surrounding the Democratic Party, with increasing calls for President Biden to step aside, potentially affecting Trump's chances and thus the Bitcoin market.

Additionally, a major IT blackout affecting global airlines, Microsoft systems, and other services was highlighted. This incident underscored Bitcoin's resilience due to its decentralised nature, as it remained unaffected. Farrington suggested this event might strengthen the narrative around Bitcoin's robustness and decentralisation benefits.

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Mainz BioMed CEO Guido Baechler joined Steve Darling from Proactive to announce the company has submitted an application to the U.S. Food and Drug Administration requesting Breakthrough Device Designation for its innovative non-invasive Next Generation colorectal cancer screening product. This product incorporates a novel portfolio of mRNA biomarkers. Achieving this designation could potentially expedite the approval process, significantly benefiting early cancer detection efforts.

Baechler emphasized that the regulatory submission is backed by consistently strong results from the company's clinical studies, ColoFuture and eAArly Detect, as well as data from a comprehensive pooled study encompassing both the European and U.S. cohorts, which were presented at ASCO 2024. These studies have culminated in the final configuration of the Next Generation Test. This test integrates the Fecal Immunochemical Test with proprietary mRNA biomarkers and is enhanced by an advanced AI and machine learning algorithm. This integrated approach is set to be employed in the FDA premarket approval study.

The Next Generation Test configuration was rigorously evaluated in a clinical setting involving 295 subjects from 21 specialized gastroenterology centers across the United States. The results underscored the exceptional efficacy of Mainz Biomed’s multimodal screening test, which allows for precise differentiation among colorectal cancer, advanced adenomas, non-advanced adenomas, and samples with no pathological findings.

The FDA’s Breakthrough Devices Designation program is designed to accelerate the development, assessment, and review of medical devices and combination products that provide more effective treatment or diagnosis for life-threatening or irreversibly debilitating conditions. This designation for Mainz BioMed's colorectal cancer test could pave the way for quicker market access and wider availability of this critical diagnostic tool.

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Bruce Nurse of Purewave Hydrogen recently joined Steve Darling from Proactive to discuss an exciting new collaboration with Robert Price aimed at exploring naturally occurring hydrogen. This initiative has led to a significant partnership with Longhorn Exploration, a company listed on the Toronto Venture Exchange under the symbol LEX. Following this partnership, both Nurse and Price have taken on directorial roles at Longhorn. Purewave, originally a private entity, holds valuable leases that it has optioned to Longhorn, with plans to merge with Longhorn under the new name Pure Hydrogen by early September.

To support its ambitious exploration activities, the company has initiated a small financing round. Purewave's exploration strategy uniquely leverages traditional oil and gas methods to identify and produce naturally occurring hydrogen. Their focus is on iron-rich rock formations, with a particular interest in Kansas' Midcontinent Rift, an area renowned for historical hydrogen shows. Recently, the company completed a comprehensive engineering and resource report with Sproule and is currently preparing for an audit. This exploration effort utilizes extensive data from historical wells and state-provided datasets.

Nurse emphasized the significant environmental advantages of natural hydrogen, highlighting its potential as a cleaner alternative to manufactured hydrogen variants, which are typically associated with high CO2 emissions and substantial production costs. The company envisions substantial future opportunities in both the US and Canada, driven by growing government support for hydrogen as a sustainable energy source. Furthermore, substantial investments from prominent entities such as Bill Gates' Breakthrough Ventures and United Airlines underscore the vast potential of the hydrogen industry, reinforcing Purewave's optimistic outlook and strategic direction.

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London's FTSE 100 opened sharply lower though it was hard to be certain due to a massive outage across Microsoft platforms that seemingly has knocked out the London Stock Exchange’s site.

According to Google Finance, the Footsie was down 52 at 8,152 in early trades.

The problem caused chaos across the globe, with banks and IT systems crippled and planes grounded. Microsoft announced on its social media accounts that it was "investigating an issue impacting users' ability to access various Microsoft 365 apps and services".

Ryanair warned of a “third party IT issue” affecting “all airlines operating across the network”, while Gatwick Airport has warned of cancellations.

Hargreaves Lansdown did get its numbers out, with the wealth platform noting stronger share-dealing volumes and record assets under management of £155.3 billion.

Hargreaves is facing a £5.3 billion takeover from private equity group CVC.

UK Retail sales for June meanwhile declined 1.2% month over month, a threefold undershoot against the 0.4% slip expected by analysts. It follows a 2.9% rise in May.

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Spenda Ltd (ASX:SPX) managing director Adrian Floate sits down with Proactive’s Jonathan Jackson to discuss the acquisition of Limepay Pty Ltd in an all-scrip transaction valued at up to $8 million. The acquisition involves four tranches, with the last three contingent on specific performance milestones. If these milestones are met, Spenda expects to add at least $7.2 million in Annual Recurring Revenue.

Limepay, established in 2019, provides embedded finance and card-not-present payment services to more than 200 Australian businesses. The company generated $2.8 million in revenue and $1.4 million in gross profit for FY24 (unaudited). Limepay's offerings include payment acceptance, instalment options, lending, working capital and marketplace solutions, all developed in-house with full IP ownership. The acquisition will significantly enhance Spenda’s product development capabilities through Limepay’s team of fintech developers.

This strategic acquisition aims to accelerate Spenda's current projects, expand its product suite and enter new verticals. The integration of Limepay's technology and team is expected to improve operational efficiency and expand Spenda's customer base, which includes key clients like Carpet Court and Capricorn. Both companies anticipate revenue-generating opportunities and economies of scale from the merged operations.

Floate stated that the acquisition brought product capability, a skilled team and potential for revenue growth. The combined entity aims to enhance its market position and improve its competitive edge.

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Global Energy Metals Corp CEO Mitchell Smith joined Proactive's Stephen Gunnion after the company increased its non-brokered offering to $650,000 from $500,000 due to strong investor demand.

Smith highlighted the challenges faced by junior mining companies in raising funds and expressed appreciation for the support from existing shareholders and larger investors. He invited further investments to help advance the company's initiatives.

Smith emphasised the importance of battery metals, especially in addressing the supply-demand gap for critical minerals. He mentioned Global Energy Metals' strategy of partnering with well-funded jurisdictions and skilled partners to develop their projects.

The company is also encouraged about the recent graphite discovery at the Millennium Project, which had previously been explored for copper, cobalt, and gold. This discovery aligns with other projects in Queensland's Mount Isa area.

Smith noted the company's active involvement in various portfolio companies, providing shareholders with significant exposure to diverse commodities and ongoing exploration work. He highlighted the potential for substantial growth and value appreciation for shareholders, given the company's current valuation.

Smith assured that there are several exciting developments ahead for Global Energy Metals, focusing on expanding investment in the battery supply chain and critical minerals.

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Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) CEO Ian Fraser joined Proactive's Stephen Gunnion with an exploration update on the company's Gochager Lake property.

The recent field program included an extensive soil geochemical survey aimed at identifying signals over the historic deposit, which can be used to locate similar deposits elsewhere on the property. Mapping and sampling of outcrops showed subsurface signals extending up to 400 metres east-northeast of the historic deposit, indicating increased complexity and potential for finding larger deposits.

Fraser highlighted the presence of significant magmatic nickel, copper, and cobalt deposits. The historic Gochager Lake deposit is hosted in a gabbro, a type of mafic intrusion. The discovery of more ultramafic rock with sufficient sulphur saturation expands the potential for magmatic deposits.

The exploration program also identified similar signals at the Mal Lake site, located ten kilometres southeast of Gochager Lake, suggesting a common source for the mineralization and significantly increasing the scope and potential of the area.

Looking ahead, Fathom Nickel plans to establish a camp at Gochager Lake in early August, with drilling expected to begin by mid-September, following detailed data analysis and drill planning.

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Westwater Resources Inc has announced a significant sales agreement with Fiat Chrysler Automobiles, part of the Stellantis group of companies. This new contract is a crucial step for Westwater Resources in securing debt financing as it represents a major offtake agreement.

Steve Cates, senior vice president and CFO, joined Proactive's Stephen Gunnion with details of the partnership with Fiat Chrysler, a company committed to the energy transition.

The contract involves supplying natural graphite anode material from Westwater's Kellyton graphite plant, covering the balance of the Phase 1 production. This agreement, combined with a previously announced contract with Korea's SK On, ensures that the company’s plant capacity is fully contracted.

Cates highlighted the importance of this agreement in the context of the graphite market, which has been dominated by China for decades. Having 100% committed volumes under contract is beneficial for lenders as it reduces the risk compared to uncommitted capacity sold on the spot market.

Fiat Chrysler will begin receiving supplies in 2026. In the meantime, Westwater Resources will focus on securing financing, selecting a lender, and continuing with the construction of Phase 1. The company is also looking ahead to Phase 2, with partial volumes already under contract and ongoing efforts to engage additional customers.

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