PyroGenesis Canada Inc, HighGold Mining Inc, Pacton Gold Inc, Esports


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

PyroGenesis Canada Inc () () confirmed that the terms have been set for two PyroGenesis waste destruction systems valued at around $11.5 million for the US Navy’s two-ship build. The formal agreement is expected to be signed within three weeks and will include a first payment of $4 million. The project should be completed in 18 months. With this additional contract, the backlog is expected to be in excess of $40 million. “Investors can take comfort from the fact that PyroGenesis has never been on more solid ground,” said CEO Peter Pascali. “The backlog is increasing to record levels, the pipeline is growing exponentially, and our balance sheet has been cleaned up with unexpected cash flow being generated from the early conversion of warrants. In fact, since April, PyroGenesis has been an active purchaser of over one million of its shares in the market. In short, investors can rest assured that the future has never looked better.”

Mining Inc () (OTCQB:HGGOF) revealed it had consolidated its footprint around its existing Munro-Croesus gold project near Timmins, Ontario. The resource group struck three separate deals with arm’s length vendors to buy a total of 38 claims, which cover a total area of around eight square kilometres (sq km), or 792 hectares (ha) in the Timmins region. It brings the firm’s total consolidated land position to around 12 sq km, or 1,181 ha.

Pacton Gold Inc () (OTCMKTS:PACXF) has closed the final tranche of a C$6.6 million financing to fund continued exploration and development activities at its Red Lake and Australian mineral properties. In the latest and concluding round, Pacton issued just over 2.8 million non-flow-through shares priced at C$0.70 for total proceeds of $2 million. Pacton also issued around 2.1 million flow-through shares priced at $0.79 for total proceeds of nearly $1.7 million. As part of the Income Tax Act of Canada, investors who bought flow-through shares are eligible for tax rebates as they fund mineral exploration in Canada. In all, the firm raised a total of $6,617,838 following the close of the final tranche of its non-flow-through financing and the close of its C$0.79 flow-through financing.

Esports Entertainment Group Inc () has signed a licensing and sponsorship agreement with Allied Esports for the upcoming inaugural VIE.gg Counter Strike: Global Offensive (CS:GO) Legend Series tournament. The event, which begins on August 31, will see 12 teams from various European countries compete for €50,000 in prize money. The 5v5 tournament will be offered to customers on the VIE.gg platform and produced by Allied Esports from its HyperX Esports Studio in Hamburg and broadcast live on Twitch.

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