This week, The Market Herald’s readers focused on several stories in the mining, consumer, telecommunications, technology, and health care sectors.

According to the Bank of Canada, the Canadian dollar is down slightly from last week to US$0.81/C$1.00 today compared to US$0.82/C$1.00 at the end of last week.

However, the Canadian economy continues to slowly recover from the effects of the pandemic. Total CPI is currently at 3.6 per cent, continuing its recovery from its low in May 2020.

The S&P/TSX Composite index reached a record high of 20,285.24 points on Wednesday, and was up 14.66 per cent year-over-year as of Friday, June 18 at 1:04 pm ET.

Here’s a look at the stories that caught the attention of TMH readers this week.

Cruz Cobalt (CSE:CRUZ) Clayton Valley lithium update

Cruz Cobalt announced on Monday that Schlumberger New Energy and Panasonic Energy, two companies that operate in the Clayton Valley, are collaborating to create a lithium extraction and production process.  

Schlumberger will use the process at its NeoLith Energy pilot plant in the Clayton Valley using Pure Energy’s land. Cruz’s projects in the Clayton Valley lie directly in the deepest part of the basin where this work will be conducted.

Jim Nelson, president of Cruz Cobalt, stated, “We are pleased to have some of the largest energy and battery companies in the world take this project to the next level. Cruz is one of the very few companies that have land and access to the deepest part of this brine basin.”

Cruz Cobalt (CRUZ) continued its one-month high of $0.105 per share from last week until Thursday, when shares dropped slightly to $0.10 per share. As of 12:37 pm ET on Friday, shares remained steady.

E79 Resources (CSE:ESNR) drills 11.10m of 160.45g/t Gold at the Happy Valley Prospect

Also in mining, E79 Resources released initial assay results on Monday from the first two drill holes at its Happy Valley Gold Prospect in Victoria, Australia.

These results, according to the report, confirm the company’s belief that high-grade gold mineralization exists at depth below historic gold mining areas.

At one hole, drilling intersected 160.45 grams per tonne of gold over 11.10 metres, including 2,430 g/t gold over 0.60 metres and 126 g/t gold over 3.0 metres.

The company plans to undergo an assessment of geological and structural data and to review follow-up drilling once all other assays have been received.

Shares of E79 Resources Corp. (ESNR) skyrocketed this week, reaching highs of $1.60 per share mid-day on Tuesday before evening out to $1.40 per share by Friday afternoon. The market opened on Monday at $0.80 per share.

Komo Plant Based Foods (CSE:YUM) launches new plant-based product line with Bolognese sauce

On Wednesday, Komo Plant-Based Foods introduced its plant-based Walnut Mushroom Bolognese, part of its new line of products.

The new Bolognese sauce is made with walnuts, cremini mushrooms, and lentils simmered in a rich tomato sauce with herbs and spices. In addition to being 100% plant-based, the Bolognese sauce is also gluten-free and soy-free.

“At Komo, we’re on a mission to share the love of plant-based foods and make plant-based meals a staple on every dinner table,” said Komo Comfort Foods CEO Jeffrey Ma. “We know consumers are cooking at home more than ever […] Consumers are also looking to spend less time on meal preparation and our plant-based Meal Helpers product line was created to address this insight.”

After reaching record highs on June 8, with shares trading at $0.23, shares in Komo Plant Based Foods Inc. (YUM) recovered slightly then saw another drop this week, finishing out the week at $0.125 per share on Friday.

TELUS (TSX:T) announces Sustainability-Linked Bond Framework

Next, in telecommunication, TELUS released a new Sustainability Linked Bond Framework, the first of its kind in Canada, that aligns its financial strategy with its net carbon neutrality goals.

Under this framework, TELUS is reinforcing its commitment to reduce greenhouse gas emissions by 46 per cent by 2030. Should TELUS fail to achieve this target, the company will offer a premium payment amount or step-up margin amount, as applicable.

“Our team’s passion to progress our sustainability goals, enabled by our leading governance practices and globally admired culture, is foundational to our leadership in social capitalism,” said Darren Entwistle, President and CEO.

Shares in TELUS (T) continue to steadily rise, reaching an all-time high on Thursday of $27.89 per share before dropping slightly to $27.74 per share as of Friday at 1:43 pm ET.

Therma Bright (TSXV:THRM) provides update on AcuVid COVID-19 Brazilian clinical study

Closing out our Top 5 list for this week is Therma Bright (THRM), who on Thursday announced the results from its ongoing AcuVid COVID-19 rapid antigen saliva test’s clinical study in Brazil.

As of June 16, according to the report, a total of 63 subjects were enrolled after providing a nasal swab for an RT-PCR test and saliva sample for the AcuVId test. Out of those 63, RT-PRC results were received for 56 subjects, with 28 positive and 28 negative results.

“This is a significant achievement for Therma Bright and our AcuVid COVID-19 Rapid Antigen Saliva Test,” Rob Fia, Therma Bright CEO, said in a press release. “Not only will this clinical data be used for our FDA EUA application submission, but we will also be submitting this clinical data in our Health Canada, ANVISA (Brazil) and INVIMA (Colombia) filings.”

According to the release, Therma Bright anticipates meeting the 30 positive/30 negative requirements for its FDA Emergency Use Authorization application.

Shares in Therma Bright (THRM) sank to a low of $0.365 per share on Wednesday this week but rose again on Friday to $0.44 per share just after the market opened. As of 1:55 pm ET on Friday, shares were trading at $0.415 per share.

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