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PainReform Advances Pain Relief Solution, PRF-110, in Phase 3 Trial to Combat Opioid Crisis

PainReform Ltd

PainReform CEO Ilan Hadar joined Steve Darling from Proactive to discuss the company at the forefront of addressing the opioid crisis in the United States, is developing PRF-110, an innovative post-operative pain treatment designed as an alternative to traditional opioids. PRF-110 is applied directly by surgeons during procedures, offering patients up to 72 hours of continuous pain relief, potentially eliminating the need for additional pain medications post-surgery. The company is currently advancing a Phase III study in Texas to evaluate the effectiveness and safety of PRF-110. The study, which began in October 2023, has already seen significant progress with more than 50% of the target 400 patients enrolled. Completion of patient enrollment is expected by mid-year, and the study results are anticipated in the third quarter of the same year. A successful outcome from this study could pave the way for another Phase III trial focusing on soft tissue applications, slated to start in early 2025, with results expected by 2026. Should the upcoming trials confirm PRF-110’s efficacy and safety, PainReform plans to submit a New Drug Application in 2026. The company recognizes the significant market potential for non-opioid post-operative pain treatments, an area currently underexplored, and is positioning PRF-110 as a key player in transforming pain management practices post-surgery. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com

May 07, 2024 12:16 PM Eastern Daylight Time

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Silver Range Resources Reveals Exploration Results from Silver Mountain Property in Nevada

Silver Range Resources Ltd

Silver Range Resources CEO Mike Power joined Steve Darling from Proactive to unveil the outcomes of the company's exploration activities at the Silver Mountain Property located in Nevada. The exploration efforts encompassed geological mapping, sampling, and an orientation geochemical survey program at the Hidden Gulch showing on the property. Power elaborated on the findings, highlighting significant results from both underground and surface sampling efforts. Underground chip sampling within the Silver Bowl Mine revealed notable grades, with results including up to 0.6 meters at 1,415 grams per tonne (g/t) silver and 0.48% copper. Surface chip sampling also yielded promising results, with up to 0.4 meters at 1,245 g/t silver from a vein exposed in a pit near the southern end of the principal structure. Furthermore, geological mapping identified a 250-meter-long steeply west-dipping normal fault within a 370-meter-long structural corridor hosting high-grade silver mineralization. Additionally, an east-dipping antithetic fault, parallel to the main fault in its hanging wall, was identified west of the principal fault. Sampling across one of these antithetic veins returned 0.65 meters at 546 g/t silver. Previously reported grab sampling along this structure returned grades of up to 3,270 g/t silver. These exploration results underscore the potential of the Silver Mountain Property, demonstrating the presence of high-grade silver mineralization within the structural corridors identified through geological mapping and sampling efforts. Silver Range Resources remains committed to advancing exploration activities at the property to further delineate and evaluate its mineralization potential. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

May 07, 2024 12:13 PM Eastern Daylight Time

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American Rare Earths Reports on two Independent Studies on Metallurgical work on REE Extraction

American Rare Earths Ltd

American Rare Earths Limited CEO Donald Swartz joined Steve Darling from Proactive to announce the results of a metallurgical study on the leaching extraction of Rare Earth Elements from Halleck Creek ore using low-temperature, direct acid leaching. The study, conducted by researchers at the Department of Mining and Minerals Engineering at Virginia Tech, was part of a three-year research contract awarded by the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy to Phinix, LLC, with American Rare Earth and Virginia Tech as team members. Swartz highlighted that the positive results from the metallurgical study further confirm the findings of previous testwork carried out by Wood PLC. Independent technical studies, recently published and peer-reviewed, also underscore the economic potential of Halleck Creek ore. The studies revealed that 80% of REEs can be extracted using low-temperature, direct acid leaching, with fast leaching kinetics attributed to the ore's metamict allanite structure. Notably, 65% of REEs were extracted within the first 10 minutes of leaching, showcasing the ore's favorable characteristics compared to refractory ores like monazite or bastnaesite. Furthermore, the Green and Smart Mining Engineering study demonstrated that Halleck Creek ore's high-grade rare-earth enrichment highlights its economic potential. Density and magnetic separation techniques have proven effective in separating and concentrating the rare earth elements, further enhancing the economic viability of the project. These findings underscore the significant progress made by American Rare Earths Limited in advancing the development of the Halleck Creek project. With promising results from metallurgical studies and ongoing research efforts, the company is well-positioned to capitalize on the economic potential of Halleck Creek ore and contribute to the domestic supply chain of rare earth elements. Contact Details Proactive USA +1 347-449-0879 na-editorial@proactiveinvestors.com

May 07, 2024 12:11 PM Eastern Daylight Time

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Ocean Power Technologies Advances Maritime Domain Awareness Solution with Successful Demonstrations

Ocean Power Technologies Inc

Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to share exciting news with Proactive regarding the company's recent achievement in completing multiple offshore demonstrations for potential customers of its Artificial Intelligence-capable Maritime Domain Awareness Solution, Merrows. These demonstrations were conducted utilizing OPT's Next Generation PowerBuoy, marking a significant milestone in showcasing the solution's capabilities to key stakeholders. Stratmann emphasized that these successful field demonstrations position OPT uniquely, allowing the company to demonstrate the fully functional Intelligence, Surveillance, and Reconnaissance (ISR) capabilities of the PowerBuoy directly to potential customers. By bypassing traditional paper studies and accelerating the sales cycle, OPT demonstrates its commitment to providing innovative and practical solutions to meet evolving maritime security needs. The Next Generation PowerBuoy, designed with survivability and cybersecurity in mind, offers a secure and reliable platform for collecting actionable intelligence in maritime environments. With the ability to securely connect to the Merrows solution from anywhere in the world, OPT provides customers with real-time insights and situational awareness to enhance maritime security operations. Furthermore, OPT's solution is designed to integrate seamlessly with Advanced AI systems, leveraging data generated by the PowerBuoy to feed into Large Language Models and other AI technologies. This integration enhances the effectiveness of maritime surveillance and enables proactive decision-making to address emerging threats and challenges. Looking ahead, OPT is scheduled to conduct further demonstrations for additional potential customers, including overseas prime contractors, in the coming weeks. These ongoing efforts underscore OPT's commitment to advancing maritime security capabilities and delivering innovative solutions to meet the evolving needs of the maritime industry. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

May 07, 2024 12:08 PM Eastern Daylight Time

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Medicus Pharma Plans Private Placement for Clinical Development Acceleration

Medicus Pharma

Dr. Raza Bokhari, Executive Chairman and CEO of Medicus Pharma joined Steve Darling from Proactive to shared insights with Proactive regarding the company's strategic initiatives, particularly its plans for a private placement of 100% unsecured convertible notes due in 2025. This move signifies a pivotal step in advancing the company's clinical development programs for novel and disruptive therapeutic assets. The private placement commenced with the first closing on May 1, involving the issuance of approximately US$5,172,500 aggregate principal amount of notes. Additionally, Medicus Pharma retains the option to issue additional notes, with the potential to reach up to US$10 million aggregate principal amount post-completion. Bokhari emphasized the company's unwavering focus on accelerating clinical development programs, underscoring the significance of the proceeds from the private placement. These funds will be allocated towards research and development initiatives, as well as fulfilling working capital needs crucial for advancing Medicus Pharma's therapeutic pipeline. One of the notable endeavors within the company's portfolio is SkinJect, a pioneering non-invasive treatment for basal cell skin cancer. Leveraging patented dissolvable microneedle patch technology, SkinJect aims to deliver chemotherapeutic agents effectively to eradicate tumor cells. By commercializing this innovative solution, Medicus Pharma seeks to address critical unmet medical needs and enhance patient outcomes in the realm of dermatological oncology. Through strategic financing and focused allocation of resources, Medicus Pharma is poised to bolster its clinical development efforts, bringing transformative therapeutic solutions to the forefront of patient care and medical innovation. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

May 07, 2024 12:06 PM Eastern Daylight Time

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Baselode Energy Initiates Drill Program and Geophysical Survey in Athabasca Basin

Baselode Energy Corp

Baselode Energy CEO James Sykes joined Steve Darling from Proactive to provide insights into the company's inaugural drill program and ANT geophysical survey on its Bear and Hook uranium projects, respectively, situated in the Athabasca Basin region of northern Saskatchewan. Baselode Energy has identified three primary target areas for drilling, strategically located at the intersection points of NE-SW-trending layers and cross-cutting NW-SE-oriented structures. The Bear drill program, spanning 1,500 meters with 6 to 8 drill holes, will target 2 to 3 different areas. The helicopter-supported program ensures efficient drill targeting while minimizing environmental impacts. The company has secured the necessary permits to execute the program. Additionally, Baselode Energy announced a collaboration with Fleet Space Technologies to conduct an innovative high-resolution, ground-based, satellite-connected ambient noise tomography (ANT) survey. This survey will generate a 3D model of the subsurface over ACKIO and other areas of interest. Data from the survey is expected to be received and interpreted before the commencement of diamond drilling on the Hook project in June. The company has also obtained the required permits for this program. These initiatives underscore Baselode Energy's commitment to advancing exploration efforts in the Athabasca Basin, leveraging cutting-edge technologies and strategic drilling targets to unlock the region's uranium potential. Contact Details Proactive United States +1 347-449-0879 action@proactiveinvestors.com

May 07, 2024 12:02 PM Eastern Daylight Time

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Ballast Rock Announces Launch of Sunbelt Multifamily Fund III

Ballast Rock

Ballast Rock, the diversified investment management firm, today announced it has launched Sunbelt Multifamily Fund III LP (“SB3”), the third private equity real estate fund in its Sunbelt series. Ballast Rock is targeting a raise of $100 million for the fund, which, like the previous Sunbelt Funds, will focus on acquiring and renovating a diversified portfolio of workforce multifamily properties in the U.S. Southeast. Ballast Rock has identified and is performing due diligence on a value-add property that would represent the first acquisition for the new fund. “The broader real estate market has experienced tremendous uncertainty, given the rise in interest rates and disruptions in the credit markets. The team have patiently been assessing the long-term impacts of these changes on our target markets and are excited to have found a potential first investment for SB3” said Thomas Carroll, Founder and Chief Executive Officer of Ballast Rock. “We have remained constructive on our core focus, which is workforce multifamily value-add, specifically in the Southeast.” “Our team has diligently been underwriting deals since our last acquisition in early 2023 and has looked at close to 400 assets in that time,” said Ian Garcia, Chief Operating Officer and Portfolio Manager for the Sunbelt Funds. “We are extremely conservative on our underwriting and will only ever consider investing in a deal if we have a high degree of confidence that it is going to clear our stringent investment objectives.” Prior Sunbelt Funds Ballast Rock launched Sunbelt Multifamily Fund I (“SB1”) in 2019 and between February 2019 and January 2021 acquired nine properties totaling 1,110 apartment units for $63,630,000. SB1 began dispositions in early 2022, generating gross proceeds of $60,450,000 from the first four properties sold. The 593 apartment units involved were acquired at an average cost of $53,583 per unit and sold at an average cost of $101,939 per unit. Ballast Rock anticipates exiting the remaining five assets in SB1 opportunistically over the next 12 to 18 months. Sunbelt Multifamily Fund II (“SB2”), launched in 2021 and between February 2021 and January 2023 acquired nine properties totaling $101,408,000, with 1,039 apartment units. In April of 2023 Ballast Rock launched Ballast Rock Capital, its broker-dealer. Ballast Rock Capital is a member of the Financial Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC) and is registered with the Securities and Exchange Commission (SEC). About Ballast Rock Group Ballast Rock Group is an integrated investment management company specializing in delivering risk-adjusted returns, accurate, and timely advice, high quality frequent reporting, and direct access to management. Ballast Rock Group operates Ballast Rock Asset Management, Ballast Rock Private Wealth, and Ballast Rock Capital. Ballast Rock Asset Management comprises Ballast Rock Real Estate, which includes the firm’s Sunbelt multifamily real estate funds, and Ballast Rock Ventures, comprising venture capital and private equity teams. Ballast Rock Private Wealth is a registered investment advisor, with a focus on alternative strategies. Ballast Rock Capital is awaiting approval to become a FINRA-registered broker-dealer. Ballast Rock is committed to being a driver of positive change. The diversity of our team members brings valuable new perspectives to our industry for the benefit of our stakeholders and the broader community. Investment Disclosure The information contained in this press release has been prepared by Ballast Rock Holdings LLC (“Ballast Rock”) without reference to any particular reader’s investment requirements or financial situation. Potential investors are encouraged to consult with professional tax, legal, and financial advisors before making any investment into a private offering of securities. An investment in private securities would be speculative and would involve a high degree of risk. Investors must be prepared to bear the economic risk of such an investment for an indefinite period of time and be able to withstand a total loss of their investment. Please carefully consider the investment objectives, risks, transaction costs, and other expenses related to an investment prior to deciding to invest. Ballast Rock Capital LLC (“BRC”), MEMBER: FINRA / SIPC. BRC’s registered head office is 460 King Street, Suite 200, Charleston, SC, 29403. Tel: 800-204-2513. To check background information about BRC and its representatives, visit FINRA’s BrokerCheck. Please see important disclosure information in our Form CRS. Contact Details For Ballast Rock press@ballastrock.com Company Website https://www.ballastrock.com/

May 07, 2024 12:00 PM Eastern Daylight Time

Skye Bioscience Moves to Nasdaq, Hits Milestone in Clinical Program

Skye Bioscience Inc

Skye Bioscience CEO Punit Dhillon joined Steve Darling from Proactive to share news announcing the company's uplisting of its common stock to the Nasdaq stock exchange, trading under the ticker symbol "SKYE." This achievement signifies a significant milestone for the company, reflecting advancements in its Phase 2 clinical programs, financial position, and shareholder base. Dhillon further disclosed that Skye Bioscience reached another critical milestone by successfully dosing 56 patients with SBI-100 Ophthalmic Emulsion in its Phase 2a study and completing final study visits for all participants. SBI-100 OE, a cannabinoid receptor type 1 agonist administered topically to the eye, is designed to address the unmet needs of patients with elevated intraocular pressure related to primary open-angle glaucoma or ocular hypertension. Notably, all treated patients completed the study without early discontinuations due to adverse events, demonstrating the safety profile of SBI-100 OE. The company anticipates releasing topline data for the entire study in the second quarter, marking a significant milestone in advancing its clinical program. Skye Bioscience's move to the Nasdaq exchange underscores its commitment to enhancing visibility, expanding its investor base, and unlocking value for shareholders as it progresses in its mission to develop innovative therapies for ocular diseases. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com

May 07, 2024 11:59 AM Eastern Daylight Time

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StreamLayer and Kaizen Partner to Transform the Betting Experience

StreamLayer

StreamLayer, an audience engagement technology company focused on transforming the live sports viewing experience across mobile devices and CTVs, is bringing interactive viewing to Kaizen bettors worldwide. The partnership extends across 12 countries on three continents, accommodates seven different languages, and is already delivering impressive results. StreamLayer’s next-generation video engagement and monetization solution enables streaming platforms—including media companies, leagues, and increasingly, sportsbooks—to transform their live content into highly engaging interactive viewing experiences. This innovation drives subscriber growth, reduces churn, and significantly expands monetizable opportunities. Having been utilized during some of the largest live-streamed sporting events on record, StreamLayer’s technology consistently generates substantial boosts in viewing times and other key engagement metrics. Now, for the first time, StreamLayer and Kaizen are leveraging this technology to give sports bettors compelling reasons to stay engaged on their apps during live games, thereby increasing user sessions and, consequently, overall handle. "Until now, sportsbooks have struggled to retain users in their apps once the game begins, missing out on a tremendous monetization opportunity between the kickoff and final whistle," said John Ganschow, CEO of StreamLayer. “Kaizen has been at the forefront of addressing this challenge, so we’re incredibly proud to partner with them and bring our proven technology to the betting industry for the first time.” View promotional video here. StreamLayer is revolutionizing the economic model for OTT providers around the globe. The Company’s proprietary Video Engagement Operating System (VEOS) enables content programmers and broadcast rights holders to transform linear streaming video feeds into highly monetizable interactive viewing experiences, seamlessly integrated into their own native app environments to facilitate valuable first-party data collection. StreamLayer is headquartered in Chicago, IL. Contact Details StreamLayer John Ganschow +1 312-543-0488 john@streamlayer.io Company Website https://www.streamlayer.io/

May 07, 2024 10:19 AM Central Daylight Time

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