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MINNEAPOLIS, May 2, 2022 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ: TECH) today announced that Chuck Kummeth, President and Chief Executive Officer, will present at the BofA Securities 2022 Healthcare Conference on Wednesday, May 11, 2022, at 2:40 p.m. PST. A live webcast of the presentation can be accessed via the IR Calendar page of Bio-Techne's Investor Relations website at https://investors.bio-techne.com/ir-calendar.
Bio-Techne Corporation (NASDAQ: TECH) is a leading developer and manufacturer of high-quality purified proteins and reagent solutions - notably cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents, T-Cell activation and gene editing technologies. Bio-Techne's product portfolio also includes protein analysis solutions, sold under the ProteinSimple brand name, offering researchers efficient and streamlined options for automated Western blot and multiplexed ELISA workflow. These reagent and protein analysis solutions are sold to biomedical researchers as well as clinical research laboratories and constitute the Protein Sciences Segment. Bio-Techne also develops and manufactures diagnostic products including FDA-regulated controls, calibrators, blood gas and clinical chemistry controls and custom assay development on dedicated clinical instruments. Bio-Techne's genomic tools include advanced tissue-based in situ hybridization assays (ISH) for research and clinical use, sold under the ACD brand as well as a portfolio of clinical molecular diagnostic oncology assays, including the ExoDx® Prostate test for prostate cancer diagnosis. These diagnostic and genomic products comprise Bio-Techne's Diagnostics and Genomics Segment. Bio-Techne products are integral components of scientific investigations into biological processes and molecular diagnostics, revealing the nature, diagnosis, etiology and progression of specific diseases. They aid in drug discovery efforts and provide the means for accurate clinical tests and diagnoses. With thousands of products in its portfolio, Bio-Techne generated approximately $931 million in net sales in fiscal 2021 and has approximately 2,700 employees worldwide.
Contact: David Clair, Senior Director, Investor Relations & Corporate Development
david.clair@bio-techne.com
612-656-4416
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SOURCE Bio-Techne Corporation | https://www.whsv.com/prnewswire/2022/05/02/bio-techne-present-bofa-securities-healthcare-conference/ | 2022-05-02T11:48:15Z |
Highlights
- Net income in the first quarter of 2022 was $1.5 million, or $0.41 per diluted share, compared to $9.8 million, or $2.73 per diluted share during the same period of 2021.
- Mortgage revenue, as anticipated, decreased to $4.1 million in the first quarter of 2022, compared to $16.1 million during the same period of 2021.
- Return on assets and return on equity was 0.57% and 5.28%, respectively, for the quarter ended March 31, 2022, compared to 3.60% and 32.70%, respectively, for the quarter ended March 31, 2021.
- The tangible common equity ratio was 11.14% at March 31, 2022, compared to 10.98% at December 31, 2021.
- Solid new origination activity during the first quarter drove an increase in loans held for investment, excluding $2.7 million of Small Business Administration (SBA) Paycheck Protection Program (PPP) loans, to $529.5 million at March 31, 2022, compared to $499.1 million and $517.9 million at September 30, 2021, and December 31, 2021, respectively.
- BNC released $550 thousand of its allowance for credit losses in the first quarter of 2022 compared to $0 provision for credit losses during the same period of 2021.
- Allowance for credit losses at March 31, 2022, was 1.60% of loans held for investment, excluding $2.7 million of Small Business Administration (SBA) Paycheck Protection Program (PPP) loans, compared to 1.75% at December 31, 2021.
BISMARCK, N.D., May 2, 2022 /PRNewswire/ -- BNCCORP, INC. (BNC or the Company) (OTCQX Markets: BNCC), which operates community banking and wealth management businesses in North Dakota and Arizona, and has mortgage banking offices in Illinois, Kansas, Michigan, Arizona, and North Dakota, today reported financial results for the first quarter ended March 31, 2022.
Net income in the first quarter of 2022, was $1.5 million, compared to $9.8 million in the same period of 2021. First quarter 2022 earnings per diluted share was $0.41, versus $2.73 in the first quarter 2021. The year-over-year decrease was primarily due to lower mortgage revenues and lower net interest income, partially offset by lower non-interest expense and a reduction in the allowance for credit losses.
First quarter 2022 net interest income decreased by $2.1 million to $6.9 million, or 23.7%, from the comparable 2021 quarter. Interest income decreased by $2.4 million, or 24.9%, from the 2021 first quarter due to lower balances and yields on loans partially offset by higher balances of interest-bearing cash and debt securities. PPP fees were $227 thousand in the first quarter of 2022 compared to $1.8 million in the first quarter of 2021. First quarter 2022 interest expense decreased by $270 thousand, or 40.8%, versus the first quarter of 2021 due to a reduction in the cost of deposits and a reduction in certificates of deposit balances.
Non-interest income in the first quarter of 2022 decreased by $12.0 million, from the same period in 2021. In the first quarter of 2022, mortgage banking revenues were $4.1 million, $11.9 million lower than the same period a year ago, during which the Company experienced a combination of historically high refinance originations and margins. The sale of SBA loans resulted in gains on sales of loans of $20 thousand in the first quarter of 2022, compared to $97 thousand in the prior year period. The Company received profit distributions of $86 thousand from SBIC investments during the 2022 first quarter compared to $100 thousand in the same period in 2021. Gains on sales of loans and profit distributions from SBIC investments can vary significantly from period to period.
Non-interest expense in the 2022 first quarter decreased by $2.6 million, or 18.9%, versus the first quarter of 2021. Non-interest expenses related to mortgage operations activity decreased by $2.5 million, or 32.0%, as management adjusted the scale of operations based on the marketplace opportunity.
Nonperforming assets were $1.5 million at March 31, 2022, down from $1.7 million at December 31, 2021 and $2.6 million at March 31, 2021. The ratio of nonperforming assets-to-total-assets was 0.15% at March 31, 2022, down from 0.16% at December 31, 2021 and 0.21% at March 31, 2021. The Company released $550 thousand of its allowance for credit losses in the 2022 first quarter, compared to no provision for credit losses in the first quarter of 2021. The allowance for credit losses decreased to 1.60% of loans held for investment (excluding $2.7 million of PPP loans) at March 31, 2022, compared to 1.75% at December 31, 2021 and 1.98% at March 31, 2021. The Company continues to monitor key industry data and will prudently adjust its allowance for credit losses as appropriate.
Tangible book value per common share at March 31, 2022, was $30.91, compared to $32.35 at December 31, 2021. The decline in tangible book value per common share was driven by the negative impact of higher long-term rates on accumulated other comprehensive income partially offset by retained earnings. The Company's tangible common equity capital ratio was 11.14% at March 31, 2022, compared to 10.98% at December 31, 2021.
Total assets were $987.2 million at March 31, 2022, compared to $1.0 billion at December 31, 2021. Total deposits were $854.4 million at March 31, 2022, compared to $906.7 million at December 31, 2021.
"BNC continues to drive performance and maintain a stable financial position despite macroeconomic and geopolitical headwinds that are impacting the entire banking industry – particularly within the mortgage sector," said Daniel J. Collins, BNC's President and Chief Executive Officer. "Over the past four quarters, we have successfully transitioned our mortgage business from refinancing activity to purchased home loan originations to reflect marketplace dynamics and customers' needs. As anticipated, our mortgage revenue declined in the first quarter due to normal loan seasonality, a volatile interest rate environment and inflation pressures. That said, we saw sequential gains in mortgage loan origination during the first quarter and maintain the capability to scale and maximize mortgage opportunities as they emerge."
Collins continued, "Across BNC, we remain intently focused on our strengths: cultivating community banking relationships, maintaining sensible lending practices and continuing to enhance our strong, stable and forward-looking marketplace position. These activities helped drive an $11.6 million first-quarter increase in loans held for investment. We also released an additional $550 thousand from our allowance for credit losses as pandemic related risks have subsided, in addition to the $350 thousand released at 2021-year end.
"As we look ahead to the rest of 2022, we are bolstered by BNC's strong balance sheet and fiscal prudence. Our organization remains committed to improving financial performance and efficiently managing recently elevated liquidity levels. Operationally, we have several initiatives under way that target further efficiency, productivity and stronger customer experiences. Additionally, we are encouraged to see momentum in generating organic loan growth in the businesses and communities that we serve. Our superior customer service and support give us confidence in our ability to meet this need with a broad range of financial products and services."
Net interest income for the first quarter of 2022 was $6.9 million, a decrease of $2.1 million, or 23.7%, from $9.1 million in the first quarter of 2021. The decrease primarily reflected lower loan balances and yields on loans partially offset by higher interest-bearing cash and debt securities, lower cost of deposits, and a reduction in certificates of deposit. PPP fees were $227 thousand in first quarter of 2022 compared to $1.8 million in the first quarter of 2021. Net interest margin decreased to 2.80% in the 2022 first quarter, compared to 3.57% in the year-earlier period.
First quarter interest income decreased $2.4 million, or 24.9%, to $7.3 million in 2022, compared to $9.7 million in the first quarter of 2021. The decrease is the result of lower loan balances, primarily lower balances of loans held for sale and PPP loans, in addition to lower yields on loans held for investment. The yield on average interest-earning assets was 2.96% in the first quarter of 2022, compared to 3.83% in the 2021 first quarter.
The average balance of interest-earning assets in the 2022 first quarter decreased by $29.4 million versus the same period of 2021, primarily due to $135.6 million and $25.2 million increases in interest-bearing cash and debt securities, respectively, more than offset by decreases in average loans held for sale and loans held for investment including PPP loans. Interest income for loans held for investment decreased $1.9 million. The average balance of loans held for investment decreased by $51.4 million with PPP loans accounting for $53.7 million of the decrease. The average balance of mortgage loans held for sale was $60.0 million, $140.1 million lower than the same period of 2021. Interest income from loans held for sale decreased $766 thousand due to lower average balances. The average balance of debt securities in the first quarter of 2022 was $204.4 million, $25.2 million higher than in the first quarter of 2021. Interest income from debt securities was $126 thousand higher compared to the same period of 2021.
Interest expense in the first quarter of 2022 was $392 thousand, a decrease of $270 thousand, or 40.8%, from the 2021 period. The cost of interest-bearing liabilities was 0.21% during the quarter, compared to 0.35% in the same period of 2021. The cost of core deposits in the first quarters of 2022 and 2021 was 0.15% and 0.26%, respectively.
At March 31, 2022, credit metrics remained stable with $1.5 million of nonperforming assets, representing a 0.15% nonperforming assets-to-total-asset ratio, compared to $1.7 million and 0.16% at December 31, 2021. The Company also released $550 thousand of its allowance for credit losses in the first quarter of 2022, compared to no provision recorded in the first quarter of 2021.
Non-interest income for the first quarter of 2022 was $5.5 million, compared to $17.5 million in the 2021 first quarter. The decrease was driven by mortgage banking revenues of $4.1 million in the first quarter of 2022, versus $16.1 million in the prior-year period. The Company's mortgage business has managed through a transition to a lower level of originations compared to the pandemic-related historically high level of refinance activity and margins in the prior-year period. In the first quarter of 2022, BNC funded 760 mortgage loans with combined balances of $300.2 million, compared to 2,426 mortgage loans with combined balances of $874.8 million in the first quarter of 2021. Wealth management revenues decreased $9 thousand, or 1.7%, as assets under administration decreased as a result of overall market declines relative to the 2021 period.
Non-interest expense for the first quarter of 2022 decreased $2.6 million, or 18.9%, to $11.0 million, from $13.6 million in the first quarter of 2021. Non-interest expenses related to mortgage operations activity decreased by $2.5 million, or 32.0%, as management adjusted the scale of operations based on the marketplace opportunity. There were 140 full-time equivalent employees related to mortgage operations at March 31, 2022, compared to 163 at March 31, 2021. Combined expenses for community banking and the holding company decreased by $95 thousand, or 1.6%, compared to the 2021 period primarily due to reduced salary and data processing expense offset by higher professional services.
In the first quarter of 2022, income tax expense was $453 thousand, compared to $3.2 million in the first quarter of 2021. The effective tax rate was 23.5% in the first quarter of 2022, compared to 24.5% in the same period of 2021.
Net income was $1.5 million, or $0.41 per diluted share, in the first quarter of 2022, versus $9.8 million, or $2.73 per diluted share, in the first quarter of 2021.
Total assets were $987.2 million at March 31, 2022, and $1.0 billion at December 31, 2021.
Total loans held for investment were $532.2 million at March 31, 2022 compared to $529.8 million at December 31, 2021. PPP loan balances, included in loans held for investment, were $2.7 million at March 31, 2022 compared to $11.9 million at December 31, 2021. Loans held for sale at March 31, 2022, were $61.8 million, a decrease of $19.1 million when compared to December 31, 2021. Debt securities decreased $12.9 million from year-end 2021 while cash and cash equivalent balances totaled $155.0 million at March 31, 2022, compared to $188.1 million at December 31, 2021.
Total deposits decreased $52.3 million to $854.4 million at March 31, 2022, from $906.7 million at December 31, 2021. The Company was able to decrease deposit balances at the end of the first quarter of 2022 by moving non-core deposits off the balance sheet through the use of an associated banking network.
Trust assets under administration decreased 3.3%, or $13.5 million, to $396.0 million at March 31, 2022, from $409.5 million at December 31, 2021.
The allowance for credit losses was $8.5 million at March 31, 2022, and $9.1 million at December 31, 2021. The allowance as a percentage of loans held for investment at March 31, 2022 decreased to 1.59% from 1.71% at December 31, 2021. Excluding $2.7 million of PPP loans, which are 100% guaranteed by the SBA, the allowance for credit losses as a percentage of loans held for investment at March 31, 2022, decreased to 1.60% compared to 1.75% at December 31, 2021.
Nonperforming assets, consisting of loans, were $1.5 million at March 31, 2022, and $1.7 million at December 31, 2021. The ratio of nonperforming assets-to-total-assets was 0.15% at March 31, 2022, and 0.16% at December 31, 2021. The Company did not hold any other real estate owned or repossessed assets at March 31, 2022. The Company did not hold any other real estate owned and held $17 thousand in repossessed assets at December 31, 2021.
At March 31, 2022, BNC had $8.0 million of classified loans and $1.5 million of loans on non-accrual. At December 31, 2021, BNC had $8.5 million of classified loans and $1.7 million of loans on non-accrual. BNC had $6.3 million of potentially problematic loans, which are risk rated "watch list", at March 31, 2022, compared with $6.5 million as of December 31, 2021.
The Company continues to monitor the effects of the pandemic and its potential impact on customers. BNC considers the pandemic, along with other macroeconomic and geopolitical factors, when monitoring the performance of its loan portfolio and adjusting its allowance for credit losses.
BNC's loans held for investment are concentrated geographically in North Dakota and Arizona which comprise 62% and 23% of the Company's total loan portfolio, respectively. The North Dakota economy is influenced by the energy and agriculture industries. Energy supply and demand factors have recently increased oil prices, benefiting the oil industry and ancillary services. Legislation and economic conditions remain potential risks to energy markets and production activity and can present potential challenges to credit quality in North Dakota. Drought conditions were the primary risk factor in the North Dakota agriculture industry during the 2021 operating year and continue as we proceed through the first quarter of 2022. North Dakota livestock and grain operators face challenges that require close monitoring and could have an adverse impact on the state overall. The Arizona economy is influenced by the leisure and travel industries. Positive trends in both industries have been noted, but an extended slowdown in these industries may negatively impact credit quality in Arizona. BNC's portfolio is constructed of various sized loans spread over a large number of industry sectors, although the Company manages meaningful concentrations of loans in hospitality and commercial real estate.
The following table approximates the Company's significant concentrations by industry, excluding PPP loans of $2.7 million and $11.9 million, as of March 31, 2022 and December 31, 2021, respectively (in thousands):
The hospitality industry is still in the process of recovering from the economic effects of the COVID-19 pandemic with a primary focus on hotel occupancy and restaurant utilization trends. Hotel operators in BNC's loan portfolio are reporting positive trends, and in some cases stronger balance sheets. Despite positive trends within the hospitality industry, caution remains as labor shortages limit capacity in some cases, and government and financial institution support is expiring.
The Company's loan portfolio and credit risk could still experience adversity from pandemic related risks, and this potential risk remains qualitatively captured in the Company's allowance for credit losses.
Banks and bank holding companies operate under separate regulatory capital requirements. At March 31, 2022, the Company's capital ratios exceeded all regulatory capital thresholds, including the capital conservation buffer.
A summary of BNC's capital ratios at March 31, 2022, and December 31, 2021, is presented below:
The Common Equity Tier 1 ratio, which is generally a comparison of a bank's core equity capital to its total risk weighted assets, is a measure of the current risk profile of the Bank's asset base from a regulatory perspective. The Tier 1 leverage ratio, which is based on average assets, does not consider the mix of risk-weighted assets.
The Company routinely evaluates the sufficiency of its capital to ensure compliance with regulatory capital standards and to serve as a source of strength for the Bank. The Company manages capital by assessing the composition of capital and the amounts available for growth, risk, or other purposes.
BNCCORP, INC., headquartered in Bismarck, N.D., is a registered bank holding company dedicated to providing banking and wealth management services to businesses and consumers in its local markets. The Company operates community banking and wealth management businesses in North Dakota and Arizona from 11 locations. BNC also conducts mortgage banking from 9 locations in Illinois, Kansas, Michigan, Arizona and North Dakota.
This news release may contain "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of BNC. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of our management and on information currently available to management are generally identifiable by the use of words such as "expect", "believe", "anticipate", "at the present time". "plan", "optimistic", "intend", "estimate", "may", "will", "would", "could", "should", "future" and other expressions relating to future periods. Examples of forward-looking statements include, among others, statements we make regarding our expectations regarding future market conditions and our ability to capture opportunities and pursue growth strategies, our expected operating results such as revenue growth and earnings and our expectations of the effects of the regulatory environment or current or future pandemics on our earnings for the foreseeable future. Forward-looking statements are neither historical facts nor assurances of future performance. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, but are not limited to: the impact of pandemics, the impact of current and future regulation; the risks of loans and investments, including dependence on local and regional economic conditions; competition for our customers from other providers of financial services; possible adverse effects of changes in interest rates, including the effects of such changes on mortgage banking revenues and derivative contracts and associated accounting consequences; risks associated with our acquisition and growth strategies; and other risks which are difficult to predict and many of which are beyond our control. In addition, all statements in this news release, including forward-looking statements, speak only of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.
This press release contains references to financial measures, which are not defined in GAAP. Such non-GAAP financial measures include tangible common equity to total period end assets ratio. These non-GAAP financial measures have been included as the Company believes they are helpful for investors to analyze and evaluate the Company's financial condition.
(Financial tables attached)
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SOURCE BNCCORP, INC. | https://www.whsv.com/prnewswire/2022/05/02/bnccorp-inc-reports-first-quarter-net-income-15-million-or-041-per-diluted-share/ | 2022-05-02T11:48:22Z |
HUNT VALLEY, Md., May 2, 2022 /PRNewswire/ -- McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, announced the appointment of Brendan Foley to the role of Chief Operating Officer and President, effective June 1, 2022. Brendan will continue to report to Lawrence Kurzius, Chairman and Chief Executive Officer.
In this newly created role, Mr. Foley will have responsibility for all of McCormick's business units and its supply chain worldwide.
Mr. Foley has been a key leader for McCormick since 2014 when he joined the Company as President of the U.S. Consumer Products Division. He was appointed President North America and added the responsibilities of President Global Consumer in 2016 when he also became a member of McCormick's Management Committee. Mr. Foley is currently President Global Consumer, Americas, and Asia. He will also add responsibility for the Europe, Middle East, and Africa region. Throughout his tenure, Brendan has been instrumental in leading McCormick's overall growth.
Prior to joining McCormick, Mr. Foley was with HJ Heinz, now Kraft Heinz, for nearly 15 years where he rose from Brand Manager to Zone President of North America. He also worked for General Mills and Ketchum Advertising prior to joining HJ Heinz. Mr. Foley holds a Bachelor of Science in Business from the School of Business Administration at Miami University of Ohio. In addition to driving commercial success, he has been a champion of McCormick's Multiple Management Board leadership develop program as well as the Company's global initiatives in Digital Acceleration, Sustainability, and Diversity, Equity, and Inclusion.
About McCormick
McCormick & Company, Incorporated is a global leader in flavor. As a Fortune 500 company with over $6 billion in annual sales across 170 countries and territories, we manufacture, market and distribute spices, seasoning mixes, condiments and other flavorful products to the entire food industry including e-commerce channels, grocery, food manufacturers and foodservice businesses. Our most popular brands with trademark registrations include McCormick, French's, Frank's RedHot, Stubb's, OLD BAY, Lawry's, Zatarain's, Ducros, Vahiné, Cholula, Schwartz, Kamis, DaQiao, Club House, Aeroplane and Gourmet Garden. Every day, no matter where or what you eat or drink, you can enjoy food flavored by McCormick.
Founded in 1889 and headquartered in Hunt Valley, Maryland USA, McCormick is guided by our principles and committed to our Purpose – To Stand Together for the Future of Flavor. McCormick envisions A World United by Flavor where healthy, sustainable and delicious go hand in hand. To learn more, visit www.mccormickcorporation.com or follow McCormick & Company on Twitter, Instagram and LinkedIn.
For information contact:
Corporate Communications:
Lori Robinson at lori_robinson@mccormick.com
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SOURCE McCormick & Company, Incorporated | https://www.whsv.com/prnewswire/2022/05/02/brendan-foley-named-chief-operating-officer-president-mccormick/ | 2022-05-02T11:48:29Z |
Achieves revenue of $90.7 million, growing year-over-year by 74%
Pro customer revenue increases to 63% of full year revenues, up 210% from the previous year
BuildDirect reports in US dollars and in accordance with IFRS
VANCOUVER, BC, May 2, 2022 /PRNewswire/ - BuildDirect.com Technologies Inc. (TSXV: BILD) ("BuildDirect" or the "Company") a growing omnichannel building material retailer, today announced its financial results for the Q4 2021 ("Q4 2021") and full-year audited financial results for the year ended December 31, 2021 ("Full Year 2021").
"I am very proud of what we achieved in 2021." said David Lazar, interim CEO of BuildDirect. "In addition to reaching $90.7 million of revenue for the year, we have integrated the FloorSource acquisition into our broader operations and closed the acquisition of Superb Flooring & Design. Our team's dedication and ability to adapt quickly to market trends has helped us respond to challenges presented by COVID and global supply chain pressures. Looking forward, we continue to focus on the growing Pro customer market with its higher average basket recurring purchases."
Q4 and Full Year 2021 Financial Highlights
Q4 and Full Year 2021 Highlights
- Achieved Full Year 2021 revenue of $90.7 million driven by strategic acquisitions of FloorSource and Superb Flooring & Design, and increasing customer demand. Compared to the previous quarter, Q4 2021 revenue increased by 7.1% to $24.0 million.
- Full Year 2021 Pro revenue reached $57.1 million, representing 63% of total revenue at the year end and year-over-year growth of 210%, which was largely driven by acquisition.
- Gross profit decreased 6.2% to $7.6 million in Q4 2021 over the previous quarter, with Full Year 2021 gross profit reaching $31.8 million, an increase of 59% year-over-year. The improvement was driven by increased revenues and partially offset by higher than expected product costs.
- Gross margin in Q4 2021 decreased by 490bps to 31.5% compared to Q3 2021 due to higher product costs. Full Year 2021 gross margin reached 35.1%, and is expected to improve in 2022 as BuildDirect increases pricing to offset increased product cost.
- Adjusted EBITDA in Q4 2021 came to ($3.2 million), a 433% decrease from the previous quarter, and ($4.0 million) for the Full Year 2021. While this decrease is attributable to higher product, fulfilment, and marketing costs, adjusted EBITDA is expected to improve in Q1 2022 as we increase prices, and reduce fixed-costs and paid marketing attributable to homeowner customers.
- Continue to integrate the acquisition of FloorSource, and closed the acquisition of Superb Flooring & Design, which increased Pro revenues, brought installation and delivery services, expanded assortment, and improved product availability.
- Successfully completed a reverse takeover transaction to go public following $20.5 million private placement.
- Appointed experienced omnichannel retail executives, David Lazard as interim CEO, and Peg Hunter and Henry Lees-Buckley to the Board of Directors.
Post-Quarter Highlights
- On February 15, 2022, BuildDirect announced the closing of a secured debt financing pursuant to which it issued, via its wholly owned subsidiary BuildDirect Operations Limited, secured notes to Pelecanus Investments Ltd., Lyra Growth Partners Inc., and Beedie Investments Ltd. in an aggregated amount of US $3 million.
- On April 4, 2022, BuildDirect announced that it appointed Eyal Ofir to its Board of Directors, and that John Farlinger and Andrew Elbaz had stepped down from their roles as Directors of the Board.
2022 Outlook
The outlook for the home improvement sector remains optimistic, supported by a consistently strong North American housing and real estate market. Whilst the consistent and resilient demand for home improvement and construction is encouraging, broader macro uncertainty remains around the impact of inflation, supply chain pressures, and evolving customer habits.
Looking to 2022, BuildDirect's growth strategy focuses primarily on expanding its foothold in the Pro customer market through four key strategic pillars:
- Reallocation of resources to focus on serving the Pro customer
- Drive synergies from acquired independent retailers
- Leveraging heavy weight delivery capabilities to maximize customer service offering
- Expanding Pro share of wallet through our omnichannel strategy
In addition to driving revenue growth, the Company is undertaking a number of key initiatives including shifting our focus more strongly towards Pro revenues, passing increased product costs on to the customer, and maximizing acquisition synergies to drive margin expansion with the goal of delivering profitability.
Ethan Rudin, CFO of BuildDirect said, "To execute on our strategy, we will continue to invest in the Pro market, extract financial and operational synergies from our acquisitions, and drive fixed-costs down. In Q1 2022, we are estimating revenues to be over $24 million and we're estimating to achieve positive Adjusted EBITDA. In addition, our cash balance has improved from year-end 2021 and at the end of Q1 2022 our cash balance is estimated to be over $5 million."
Actual results may differ materially from BuildDirect's financial outlook as a result of, among other things, the factors described under "Forward-Looking Statements" below.
BuildDirect's audited consolidated financial statements for the years ended December 31, 2020 and December 31, 2021 and Management's Discussion and Analysis for the three and twelve months ended December 31, 2020 and 2021 are available on the Company's website at www.BuildDirect.com. and on the Company's SEDAR profile available at www.sedar.com.
Fourth Quarter and Full Year 2022 Financial Results Conference Call
BuildDirect will host a conference call and webcast to discuss the Company's financial results at 9:30 am EST on Monday, May 2, 2022. To access the telephonic version of the conference call, participants can dial (888) 664-6392 (North America Toll-Free) or (416) 764-8659. Upon entering the confirmation ID: 56210850, participants will be entered directly into the conference.
Alternatively, the webcast will be available live on the Investor Relations section of BuildDirect's website at https://ir.builddirect.com/events-and-presentation
Among other things, BuildDirect will discuss long-term financial outlook on the conference call and webcast, and related materials will be made available on the Company's website at https://ir.builddirect.com/events-and-presentation. Investors should carefully review the factors, assumptions, risks and uncertainties included in such related materials concerning such long-term financial outlook.
An audio replay of the call will be available approximately two hours after the completion of the live call until 8:59 pm EST on May 9, 2022. The audio replay will be accessed by dialing (888) 390-0541 (North America Toll-Free) or (416) 764-8677 (Toronto) with entry code: 210850. In addition, an archived webcast will be available on the Investor Relations section of the Company's website at https://ir.builddirect.com/events-and-presentation.
About BuildDirect
BuildDirect (TSXV: BILD) is an innovative technology platform for purchasing and selling building materials online. The BuildDirect platform connects homeowners and home improvement professionals in North America with suppliers and sellers of quality building materials from around the world, including flooring, tile, decking and more. BuildDirect's growth, proprietary heavyweight delivery network, and digital reach have served to solidify its role as a ground-breaking-player in the home improvement industry. For more information, visit www.BuildDirect.com.
Forward-Looking Information:
This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. These statements reflect management's current beliefs and expectations and are based on information currently available to management as at the date hereof.
Forward-looking statements in this press release may include, without limitation, statements relating to BuildDirect's growth and growth strategy, the strength of the home renovation and real estate markets; BuildDirect's 2022 outlook and ability to achieve the pillars listed under the "2022 Outlook" section and pass increased product costs on to the customer; margin expansion; profitability; investment in accretive Pro market assets; expected financial and operational synergies from our acquisitions; BuildDirect's ability to drive costs down; BuildDirect's robust omnichannel customer retail experience and heavy weight delivery capabilities; the redirection and reshaping of operations to focus on the Pro customers market; gross margin increases and adjusted EBITDA improvements; BuildDirect's ability to adapt to market trends; and BuildDirect's acquisition pipeline and maximization of acquisition synergies.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Among those factors are changes in consumer spending, inflation, availability of mortgage financing and consumer credit, changes in the housing market, changes in trade policies, tariffs or other applicable laws and regulations both locally and in foreign jurisdictions, availability and cost of goods from suppliers, fuel prices and other energy costs, interest rate and currency fluctuations, retention of key personnel and changes in general economic, business and political conditions and other factors referenced under the "Risks and Uncertainties" section of our MD&A. These forward-looking statements may be affected by risks and uncertainties in the business of the Company and general market conditions, including COVID-19.
These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release reflect the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and BuildDirect assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Reference is made in this press release to the following non-GAAP measures: Adjusted EBITDA. These non-GAAP measures are commonly used by investors and other interested parties to evaluate our financial performance and are employed by the company to measure its operating and economic performance and to assist in business decision-making. These non-GAAP measures do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other issuers. These measures are provided as additional information to complement those IFRS measures by providing further understanding of the results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the financial information reported under IFRS. Refer also to appendix tables and " Q4 and Full Year 2021 Highlights" of this press release as well as our Management's Discussion and Analysis for definitions and reconciliations of non-IFRS measures to the nearest IFRS measures.
NON-IFRS MEASURES
We define EBITDA as net income or loss before interest, income taxes and amortization. Adjusted EBITDA removes fair value adjustment of convertible debt and warrants, fair value adjustment of inventory, restructuring expenses, non-recurring bad debt expense, foreign exchange gains and losses, and share-based compensation items from EBITDA. We are presenting these measures because we believe that our current and potential investors, and many analysts, use them to assess our current and future operating results and to make investment decisions. Management uses these measures in managing the business and making decisions. EBITDA and adjusted EBITDA are not intended as substitutes for IFRS measures.
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Collaboration Offers Advanced Security Operations Center Services and In-Vehicle Cybersecurity, Bridging the Gap Between Product Security and Security Monitoring
JERUSALEM, Israel, May 2, 2022 /PRNewswire/ -- C2A Security, a leading provider of trusted mobility cybersecurity solutions, and Stefanini Group, $1 billion global technology company, announced today a collaboration to bring a robust cybersecurity solution to the automotive industry. The collaboration offers OEMs and their suppliers both Stefanini's advanced Security Operations Center (SOC) services and C2A Security's vehicle lifecycle cybersecurity solution, bridging the gap between product security and security monitoring.
Connecting Stefanini's SOC solutions to C2A Security's AutoSec enables an advanced SOC playbook and empowers teams with full visibility and control over the vehicle automotive cybersecurity from concept to post production.
Stefanini's SOC services offer the automotive industry expert resources and specialized tools that assist with investigations, root cause analysis, complex threat hunting, and eradication of threats.
Stefanini's Managed Security Operations SOC's capabilities offer access to cybersecurity incident monitoring and response capabilities, with the added benefits of rapid deployment, minimal infrastructure investments, and flexible deployment models that can fit most companies' budgets and security strategies .
C2A Security's AutoSec Platform is an automotive Cyber Security Management System (CSMS) that empowers OEMs and their suppliers with full-spectrum visibility, control and protection of cybersecurity status for all vehicle programs. AutoSec platform provides product security tools such as Threat Analysis and Risk Assessment (TARA), network security and IDS, and binary level run time protection. AutoSec is designed to integrate with existing security tools and processes to automate all the components needed to manage the vehicle lifecycle. The collaboration between C2A and Stefanini, enables the automotive industry with the most advanced cybersecurity solutions on the market today.
"Our partnership provides an all-in-one package for OEMs and suppliers looking for advanced cybersecurity solutions that offer full lifecycle visibility, combining C2A's security platform with Stefanini's SOC solution,"says Roy Fridman, CEO of C2A Security. "As the industry moves forward to adapt to the new requirements of the ISO/SAE 21434 standard and UNECE WP.29 regulation it is more crucial than ever for the automotive industry to have a solution in place that will keep them in compliance and protect their vehicles from potential cyber attacks."
The new automotive regulations - WP.29 and ISO/SAE 21434 require OEMs and suppliers to scale cybersecurity capabilities across the supply chain, and ensure compliance in all new vehicle models. The regulations detail both in-vehicle and external areas that need to be secured. Additionally, the regulations touch on software update management systems, which requires a structured process that complies with the requirements for all software updates.
"Tier-1s and OEMs are catching up to meet the new standard requirements that have been recently passed," says Alex Bertea, Chief Cybersecurity Strategist, Stefanini EMEA. "Our collaboration with C2A Security will give them the complete cybersecurity package they need to ensure compliance both in and outside the vehicle."
Farlei Kothe, Stefanini EMEA CEO, says: "Stefanini has a well-established history of collaborating with partners to create exceptionally innovative solutions that transform businesses. We're proud that our work with C2A builds on this track record to provide a truly comprehensive cybersecurity offering for the automotive sector."
About C2A Security
C2A Security is a trusted end-to-end automotive and mobility infrastructure cybersecurity solutions provider. Its suite of development and embedded cybersecurity solutions takes a multi-layered approach to cybersecurity to provide automotive-relevant protection and safety compatibility. C2A's AutoSec is a comprehensive cybersecurity lifecycle management platform that empowers OEMs and Tier 1s with the visibility required to meet all the cybersecurity needs of connected vehicles across the entire vehicle lifecycle including the vehicle's essential peripheral required for connectivity and electrification. With advanced automation, market neutrality, complete fluency in the needs of the automotive industry and ease of integration, C2A is redefining the automotive cybersecurity ecosystem. C2A is the sole provider of the most flexible, comprehensive and transparent cybersecurity solutions on the market. C2A was founded in 2016 by CEO Michael Dick, Co-Founder of NDS, which was acquired by Cisco for $5B. For more information, visit https://www.c2a-sec.com.
Stefanini (www.stefanini.com) is a global tech multinational, originating from Brazil, with more than 33 years of experience on the market and a presence in 41 countries. The company invests in a complete innovation ecosystem to serve main industry verticals and assist customers in their digital transformation. With robust offers aligned with market trends such as automation, cloud, Internet of Things (IoT) and User Experience (UX), the company has received recognitions as well as several awards in the innovation area. Currently, the Brazilian multinational has a broad portfolio, which combines innovative consulting and marketing solutions, mobility, personalized campaigns and artificial intelligence with traditional solutions such as Service Desk (with the ability to offer support in 35 languages), Field Service and outsourcing (BPO).
Contact:
DeeDee Rudenstein,
drudenstein@propelsc.com
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SOURCE C2A Security | https://www.whsv.com/prnewswire/2022/05/02/c2a-security-stefanini-group-collaborate-bring-robust-full-vehicle-life-cycle-cybersecurity-solution-automotive-industry/ | 2022-05-02T11:48:42Z |
TORONTO, May 2, 2022 /PRNewswire/ - Acclaimed Canadian fashion designer, Christopher Bates, launches TOP GUN-inspired capsule collection in collaboration with Paramount Consumer Products. Officially launching today, the TOP GUN X CHRISTOPHER BATES exclusive, limited-edition clothing line pays homage to the iconic 1986 original film while nodding to the new TOP GUN: MAVERICK movie, set to premiere on May 27, 2022.
"TOP GUN is one of my all-time favorite movies and creating this collection was a dream come true for me," said Creative Director, Christopher Bates. "Each piece was carefully crafted, with exceptional materials, artisanal level craftsmanship, and significant attention to detail. Our goal was to revive the beloved original film in a genuine and nostalgic way while ushering in a new generation of fans who will be experiencing the exhilarating world of TOP GUN for the very first time."
The new offering is comprised of unisex products directly inspired by the movie, including jackets, sweatshirts, t-shirts, volleyball tank-tops, and aviator sunglasses. All of the prints, engravings, and badges are made from authentic artwork from the original film. Each of the highly covetable products in the first drop are proudly made in Italy.
"It has been a great experience working with Christopher on this amazing collaboration," said Jamie Drew, Senior Vice President, Strategic Partnerships and Americas Licensing, Paramount Consumer Products. "The collection creatively translates the iconic style from TOP GUN into chic, wearable designs. We are so excited to bring this impeccable line to fans."
Available within Canada, USA, UK and Germany, the TOP GUN X CHRISTOPHER BATES collection releases today on https://topguncollection.com/, as well as with select retailers: Shinobi Menswear in Las Vegas and Newport Beach, Gotstyle and The Coop in Toronto, and Breuninger.com in Germany. Pop-up shops are also planned, including at Toronto's celebrated stackt market from May 30th-June 5th. High-res images are available upon request.
Founded in 2008, Christopher Bates designs for fashionable individuals who are in their prime regardless of age, race, colour, gender, or creed. Originally from Vancouver, Canada, Christopher Bates has chosen his real name to represent himself in the fashion world. Inspired by the exclusive fabrics and artisanal Italian producers he works with, Bates' commitment to quality and authenticity is absolute. This commitment, in harmony with his honed talent for timeless design, clever details, and bold colour palette, is what has established him as a renowned expert in style. Bates has received numerous accolades over the years including: the Canadian Menswear Designer of the Year Award, CAFA (2019) and the Visionary Award from Fashion Group International, FGI (2018). For more information go to https://christopherbates.com/ or follow Christopher Bates on Instagram, Facebook, and LinkedIn
Paramount Consumer Products oversees all licensing and merchandising for Paramount (Nasdaq: PARA, PARAA), a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, Paramount Consumer Products' portfolio includes a diverse slate of brands and content from BET, CBS (including CBS Television Studios and CBS Television Distribution), Comedy Central, MTV, Nickelodeon, Paramount Pictures and Showtime. With properties spanning animation, live-action, preschool, youth and adult, Paramount Consumer Products is committed to creating the highest quality product for some of the world's most beloved, iconic franchises. Additionally, Paramount Consumer Products oversees the online direct-to-consumer business for CBS and Showtime programming merchandise, as well as standalone branded ecommerce websites for Star Trek, SpongeBob, South Park, and MTV.
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SOURCE Christopher Bates | https://www.whsv.com/prnewswire/2022/05/02/canadian-fashion-designer-christopher-bates-launches-top-gun-inspired-collection-officially-licensed-by-paramount-consumer-products/ | 2022-05-02T11:48:49Z |
ROCKVILLE, Md. and BEIJING, May 2, 2022 /PRNewswire/ -- CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, today announced the Company will host a conference call reviewing the financial results for the first quarter of 2022, at 8:00 a.m. EST on Thursday, May 12th, 2022.
On the call, CASI's Chairman & CEO will provide an update on the Company's business and upcoming milestones. The conference call can be accessed by dialing 1-866-218-2402 (U.S.) or 1-412-902-6605 (international) and ask to be joined into the CASI Pharmaceuticals call to listen to the live conference call. Confirmation #10165613.
This call will be recorded and available for replay by dialing 1-877-344-7529 (U.S.) or 1-412-317-0088 (international) and enter 2360248 to access the replay.
About CASI Pharmaceuticals
CASI Pharmaceuticals, Inc. is a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products in China, the United States, and throughout the world. The Company is focused on acquiring, developing, and commercializing products that augment its hematology oncology therapeutic focus as well as other areas of unmet medical need. The Company intends to execute its plan to become a leader by launching medicines in the greater China market leveraging the Company's China-based regulatory and commercial competencies and its global drug development expertise. The Company's operations in China are conducted through its wholly-owned subsidiary, CASI Pharmaceuticals (China) Co., Ltd., which is located in Beijing, China. The Company has built a commercial team of more than 100 hematology and oncology sales and marketing specialists based in China. More information on CASI is available at www.casipharmaceuticals.com.
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RICHARDSON, Texas, May 2, 2022 /PRNewswire/ --
Q1 2022 Financial Highlights:
- Revenues of $70.3 million
- Operating loss of $(1.3) million on a GAAP basis, or $(0.6) million on a non-GAAP basis
- EPS of $(0.03) per diluted share on a GAAP basis, or $(0.02) per diluted share on a non-GAAP basis
Q1 2022 Business Highlights:
- Strong bookings in North America, India, Europe and LATAM
- Book to bill for the trailing 12 months is above 1
- North America:
- Current outlook suggests another record year
- Acquired new 5G customers including DISH and private networks - Europe:
- Record quarter surpassing the last two years in terms of bookings
- Leading Tier 1 operator tested Ceragon's RAON software with a third-party DCSG; results show RAON works well with other open network elements
- Successful POC with a Tier1 global operator as part of their TIP activity
- Acquired a Tier 2 customer; supporting their nationwide 5G projects - India:
- Continued strong demand for site upgrades and network expansions to prepare for 5G
- Leading Tier 1 operator placed orders for our all-outdoor 5G-ready multicore solution, with delivery scheduled for Q2 and Q3 2022
- LATAM:
- Very strong start to the year with strong bookings
- Received POs for IP50 FX from leading Tier 1 operators in Paraguay and Argentina
Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today reported its financial results for the first quarter ended March 31, 2022.
Doron Arazi, CEO, commented: "We began the year with accelerated momentum reflected by very strong bookings in Q1. We are witnessing increased operator and private network activity, especially in terms of 5G deployments in North America and Europe. While we are successfully turning this new momentum into new customers, orders, and bookings, the global component shortage, supply chain disruptions, and shipping issues continue to create irregular volatilities in our industry and adversely impact the conversion of our business successes into revenue increase and healthy margins. We are taking measures to mitigate this impact and its effects. We continue to be laser-focused on the areas that add value to our business, such as our technological leadership in our core domain and in the open network market, as well as our growing Managed Services offering."
Primary First Quarter 2022 Financial Results:
Revenues were $70.3 million, up 2.9% from $68.3 million in Q1 2021 and down 9.6% from $77.8 million in Q4 2021. Revenues were generally in line with the effect of the challenges we experienced in each region, which involved delay in delivering some of our products on time due to component shortages and supply chain disruptions.
Gross profit was $19.3 million, giving us a gross margin of 27.5%, compared with a gross margin of 29.5 % in Q1 2021 and 29.4% in Q4 2021. The relatively low gross profit is mainly due to expedite costs and price increase derived from component shortages and increased shipping costs.
Operating income (loss) was $(1.3) million compared with operating income of $0.4 million for Q1 2021 and $1.0 million for Q4 2021.
Net loss was $(2.3) million, or $(0.03) per diluted share compared with $(1.2) million, or $(0.01) per diluted share for Q1 2021 and $(12.2) million, or $(0.15) per diluted share for Q4 2021.
Non-GAAP results were as follows: Gross margin was 27.7%, operating loss was $(0.6) million, and net loss was $(1.9) million, or $(0.02) per diluted share.
Cash and cash equivalents was $25.0 million at March 31, 2022, compared to $17.1 million at December 31, 2021.
For a reconciliation of GAAP to non-GAAP results, see the attached tables.
Revenue Breakouts by Geography:
Outlook
We continue to target revenue growth in 2022. Assuming an improvement in the components, supply chain and shipping drawbacks, we now expect yearly revenue to be between $300-$315 million. Improvement in our gross margin is expected only during the second half of the year, assuming gradual improvement in our supply chain and shipping constrains and costs.
Conference Call
The Company will host a Zoom web conference today at 9:00a.m. ET to discuss the results, followed by a question and answer session for the investment community.
Investors are invited to register by clicking the following link. All relevant information will be sent upon registration.
If you are unable to join us live, a recording of the call will be available on our website at www.ceragon.com within 24 hours after the call.
About Ceragon Networks
Ceragon Networks Ltd. (NASDAQ: CRNT) is the global innovator and leading solutions provider of 5G wireless transport. We help operators and other service providers worldwide increase operational efficiency and enhance end customers' quality of experience with innovative wireless backhaul and fronthaul solutions. Our customers include service providers, public safety organizations, government agencies and utility companies, which use our solutions to deliver 5G & 4G broadband wireless connectivity, mission-critical multimedia services, stabilized communications, and other applications at high reliability and speed.
Ceragon's unique multicore technology and disaggregated approach to wireless transport provides highly reliable, fast to deploy, high-capacity wireless transport for 5G and 4G networks with minimal use of spectrum, power, real estate, and labor resources. It enables increased productivity, as well as simple and quick network modernization, positioning Ceragon as a leading solutions provider for the 5G era. We deliver a complete portfolio of turnkey end-to-end AI-based managed and professional services that ensure efficient network rollout and optimization to achieve the highest value for our customers. Our solutions are deployed by more than 400 service providers, as well as more than 800 private network owners, in more than 150 countries. For more information please visit: www.ceragon.com
Safe Harbor
Ceragon Networks® and FibeAir® are registered trademarks of Ceragon Networks Ltd. in the United States and other countries. CERAGON ® is a trademark of Ceragon Networks Ltd., registered in various countries. Other names mentioned are owned by their respective holders.
This press release contains statements that constitute "forward-looking statements" within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Ceragon's management about Ceragon's business, financial condition, results of operations, micro and macro market trends and other issues addressed or reflected therein. Examples of forward-looking statements include, but are not limited to, statements regarding: projections of demand, revenues, net income, gross margin, capital expenditures and liquidity, competitive pressures, order timing, supply chain and shipping, components availability, growth prospects, product development, financial resources, cost savings and other financial and market matters. You may identify these and other forward-looking statements by the use of words such as "may", "plans", "anticipates", "believes", "estimates", "targets", "expects", "intends", "potential" or the negative of such terms, or other comparable terminology, although not all forward-looking statements contain these identifying words.
Although we believe that the projections reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations therefrom will not be material. Such forward-looking statements involve known and unknown risks and uncertainties that may cause Ceragon's future results or performance to differ materially from those anticipated, expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the continuing impact of the components shortage due to the global shortage in semiconductors, chipsets, components and other commodities, on our supply chain, manufacturing capacity and ability to timely deliver our products, which have caused, and could continue to cause delays in deliveries of our products and in the deployment of projects by our customers, risk of penalties and orders cancellation created thereby, as well as profit erosion due to constant price increase, payment of expedite fees and costs of inventory pre-ordering and procurement acceleration of such inventory, and the risk of becoming a deadstock if not consumed; the continued effect of the global increase in shipping costs and decrease in shipping slots availability on us, our supply chain and customers, which have resulted, and may continue to result in, price erosion, late deliveries and the risk of penalties and orders cancellation due to late deliveries; the impact of the transition to 5G technologies on our revenues if such transition is developed differently than we anticipated; the risks relating to the concentration of a major portion of our business on large mobile operators around the world from which we derive a significant portion of our ordering, that due to their relative effect on the overall ordering coupled with inconsistent ordering pattern and volume of business directed to us, creates high volatility with respect to our financial results and results of operations; the effect of the competition from other wireless transport equipment providers and from other communication solutions that compete with our high-capacity point-to-point wireless products; the continued effect of the COVID-19 pandemic on the global economy and markets and on us and on the markets in which we operate and our and our customers, providers, business partners and contractors business and operations; the risks relating to increased breaches of network or information technology security along with increase in cyber-attack activities, growing cyber-crime threats, and changes in privacy and data protection laws, that could have an adverse effect on our business; risks associated with any failure to meet our product development timetable, including delay in the commercialization of our new chipset; imposition of additional sanctions and global trade limitations in connection with Russia's invasion to Ukraine, the effects of general economic conditions and trends on the global and local markets in which we operate and such other risks, uncertainties and other factors that could affect our results, as further detailed in Ceragon's most recent Annual Report on Form 20-F and in Ceragon's other filings with the Securities and Exchange Commission.
Such forward-looking statements, including the risks, uncertainties and other factors that could affect our results, represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. Such forward-looking statements do not purport to be predictions of future events or results and there can be no assurance that it will prove to be accurate. Ceragon may elect to update these forward-looking statements at some point in the future but the company specifically disclaims any obligation to do so except as may be required by law.
Ceragon's public filings are available on the Securities and Exchange Commission's website at www.sec.gov and may also be obtained from Ceragon's website at www.ceragon.com.
Investor & Media Contact:
Maya Lustig
Ceragon Networks
Tel. +972-54-677-8100
mayal@ceragon.com
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SAN ANTONIO, May 2, 2022 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc., (NYSE:CCO) announced today that Brian Coleman, CFO of Clear Channel Outdoor Holdings, Inc., is scheduled to participate in a question and answer session at the Goldman Sachs Leveraged Finance Conference on Thursday, May 12, 2022 at 5:50 p.m., Eastern Time. A live audio webcast of the question and answer session will be available on Clear Channel Outdoor Holdings' investor website at www.investor.clearchannel.com and will be available for replay on the website for 30 days.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. ("CCOH") (NYSE: CCO) is at the forefront of driving innovation in the out-of-home advertising industry. Our dynamic advertising platform is broadening the pool of advertisers using our medium through the expansion of digital billboards and displays and the integration of data analytics and programmatic capabilities that deliver measurable campaigns that are simpler to buy. By leveraging the scale, reach and flexibility of our diverse portfolio of assets, we connect advertisers with millions of consumers every month across more than 500,000 print and digital displays in 26 countries.
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SOURCE Clear Channel Outdoor Holdings, Inc. | https://www.whsv.com/prnewswire/2022/05/02/clear-channel-outdoor-holdings-inc-participate-goldman-sachs-leveraged-finance-2022-conference/ | 2022-05-02T11:49:11Z |
HOLON, Israel, May 2, 2022 /PRNewswire/ -- Compugen Ltd. (NASDAQ: CGEN), a clinical-stage cancer immunotherapy company and a pioneer in computational target discovery, announced today that the Company will release its first quarter 2022 financial results on Monday, May 16, 2022, before the U.S. financial markets open. Management will not host a conference call to accompany this release.
Management plans to provide a corporate update at two global investor healthcare conferences in June 2022. Details of the planned presentations will be provided closer to the events.
About Compugen
Compugen is a clinical-stage therapeutic discovery and development company utilizing its broadly applicable predictive computational discovery capabilities to identify new drug targets and biological pathways for developing cancer immunotherapies. Compugen has developed two proprietary product candidates: COM701, a potential first-in-class anti-PVRIG antibody, for the treatment of solid tumors, in Phase 1 as a single agent and in dual, and triple combinations; COM902, a potential best-in-class monoclonal antibody targeting TIGIT for the treatment of solid and hematological tumors, undergoing Phase 1 studies as a single agent and in dual combination with COM701. Partnered programs include bapotulimab an antibody targeting ILDR2 in Phase 1 development, licensed to Bayer under a research and discovery collaboration and license agreement, and a TIGIT/PD-1 bispecific derived from COM902 (AZD2936) in Phase 1/2 development by AstraZeneca through a license agreement for the development of bispecific and multi-specific antibodies. In addition, the Company's therapeutic pipeline of early-stage immuno-oncology programs consists of programs aiming to address various mechanisms of immune resistance, including myeloid targets. Compugen is headquartered in Israel, with offices in South San Francisco, CA. Compugen's shares are listed on Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN.
Forward-Looking Statement
This press release contains "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations, and assumptions of Compugen. Forward-looking statements can be identified using terminology such as "will," "may," "expects," "anticipates," "believes," "potential," "plan," "goal," "estimate," "likely," "should," "confident," and "intends," and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include, but are not limited to, statements regarding our plans to provide a corporate update at two global investor healthcare conferences in June 2022 and that details of the planned presentations will be provided closer to the events. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance, or achievements of Compugen to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, any forward-looking statements represent Compugen's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Compugen does not assume any obligation to update any forward-looking statements unless required by law.
Investor Relations contact:
Yvonne Naughton, Ph.D.
Head of Investor Relations and Corporate Communications Compugen Ltd.
Email: ir@cgen.com
Tel: +1 (628) 241-0071
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SOURCE Compugen Ltd. | https://www.whsv.com/prnewswire/2022/05/02/compugen-release-first-quarter-2022-monday-may-16-2022/ | 2022-05-02T11:49:18Z |
DENVER, May 2, 2022 /PRNewswire/ -- CryoMass Technologies Inc. (the "Company") has begun real-time trials of a full-scale, user-ready model of its patented cryogenic system for capturing the high-value elements of hemp and cannabis plants. The device occupies 160 square feet of floor space, stands 11 feet tall and operates with ultra-cold liquid nitrogen.
Click below to see a video of the CryoMass machine in operation.
The goals of the trials are:
- To determine the most efficient throughput rates for different types of gross plant material. Efficient throughput rates allow the equipment to operate continuously, without costly down time.
- To measure the percentage of a plant's valuable cannabinoids (held in a plant's trichomes) that are captured by the system at various settings of system controls.
- To measure the system's consumption of liquid nitrogen.
- To assess the effects on machine parts of direct contact with liquid nitrogen.
- To develop proprietary data capturing systems, to measure and record improved efficiencies, cost savings and end product quality.
Preliminary results indicate:
- Efficient throughput rates are between 400 and 600 kilograms of gross plant material per hour.
- Capture rates (the share of a plant's cannabinoids that are captured by the system) are between 96% and 97% at the settings tested.
- No failure of machine parts with direct contact with liquid nitrogen has occurred.
Conventional methods of capturing cannabinoids are costly, requiring extensive handling and controlled drying. And they generally entail the loss of one-third or so of a plant's cannabinoid-bearing trichomes. CryoMass Technologies' preliminary trial results reinforce management's opinion that the current device as is offers compelling time, cost and quality advantages to any large-scale cultivator or processor of hemp or cannabis.
Those advantages may apply to processors of other botanicals, since our process eliminates many steps and bottlenecks associated with existing practices.
The common stock of CryoMass Technologies Inc. trades on the OTC QB market under the symbol CRYM. For further information, please contact the Company by email at investors@cryomass.com or by telephone at +1 833 256 2382. The Company will welcome your inquiry.
This press release is not an offer of securities, or a solicitation for purchase, subscription or sale of securities in the United States of America or in any other jurisdiction in which it would be unlawful to do so.
Forward-looking Statements
This press release may contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 that involve known and unknown risks, uncertainties and other factors, including risk factors identified in the Company's SEC filings, and which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Risks and uncertainties include, without limitation, changes in the regulatory environment affecting the sale and use of cannabis or hemp products and of other, potential lines of businesses that the Company will consider entering at a given time, demand for the Company's products, internal funding and the financial condition of the Company, product roll-out, competition, our dependence upon our commercial partners, variations in the global commodities markets and other commercial matters involving the Company, its products and the markets in which the Company operates or seeks to enter, as well as general economic conditions. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Marijuana, as defined in the U.S. Controlled Substances Act, remains a Schedule I drug under the respective act, making it illegal under federal law in the U.S. to, among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the U.S. may form the basis for prosecution under applicable U.S. federal money laundering legislation. Please carefully review the Company's SEC filings with respect to related risk factors.
SOURCE CryoMass Technologies Inc
Related Links
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MONMOUTH JUNCTION, N.J., May 2, 2022 /PRNewswire/ -- CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, announced that the Company has been awarded a new preferred supplier agreement for CytoSorb® with the Asklepios Group (Asklepios), one of the largest private hospital operators in Germany, following the majority acquisition of RHÖN‑KLINIKUM AG in 2020.
CytoSorbents has entered into a 3-year preferred supplier agreement with Asklepios, making CytoSorb available without restrictions to all of the approximate 170 healthcare facilities across 14 states throughout Germany that Asklepios operates. This includes Asklepios Klinik St. Georg in Hamburg, Germany, which pioneered the use of CytoSorb to remove antithrombotic drugs during cardiothoracic surgery, and is well-known for their seminal publication on CytoSorb use for this application during emergency cardiac surgery in patients at high risk of bleeding.
Dr. Christian Steiner, Executive Vice President, Sales and Marketing of CytoSorbents stated, "We are excited to announce this agreement with Asklepios, as we are now their preferred supplier of hemoadsorption technology. With this new agreement, CytoSorbents now has preferred supplier agreements with the three largest hospital chains in Germany, providing an opportunity to further grow our business. These privately owned hospital chains are always seeking value-added therapies that provide both clinical and economic benefit to ensure the highest quality medical care for their patients while supporting profitable operations. I am convinced CytoSorb is helping these hospital chains achieve both objectives."
About Asklepios Group
Asklepios was established in 1985 and is now a leading private operator of hospitals in Germany. Asklepios' business activities have always been aimed at providing future-oriented medicine for patients based on the highest quality standards. Asklepios aspires to shape the future of medicine. One key to this lies also in digitalization. The Asklepios vision of a completely integrated digital healthcare group is summed up with the term "Digital HealthyNear". The Group currently has around 170 healthcare facilities throughout Germany represented in 14 German federal states functioning as a nationwide network for holistic healthcare provision. These include acute care hospitals of all different care levels, university hospitals, specialist hospitals, prevention and aftercare, rehabilitation clinics and medical centers. In the 2021 financial year over 3.5 million patients were treated at the Asklepios Group's facilities. The company has more than 67,000 employees. For more information consult www.asklepios.com.
About CytoSorbents Corporation (NASDAQ: CTSO)
CytoSorbents Corporation is a leader in the treatment of life-threatening conditions in intensive care and cardiac surgery using blood purification. Its flagship product, CytoSorb®, is approved in the European Union with distribution in more than 70 countries around the world as an extracorporeal cytokine adsorber designed to reduce the "cytokine storm" or "cytokine release syndrome" seen in common critical illnesses that may result in massive inflammation, organ failure and patient death. These are conditions where the risk of death can be extremely high, yet few to no effective treatments exist. CytoSorb is also being used during and after cardiothoracic surgery to remove inflammatory mediators that can lead to post-operative complications, including multiple organ failure. More than 162,000 cumulative CytoSorb devices have been utilized as of December 31, 2021. CytoSorb was originally introduced into the European Union under CE-Mark as a first-in-kind cytokine adsorber. Additional CE-Mark label expansions were received for the removal of bilirubin and myoglobin in clinical conditions such as liver disease and trauma, respectively, and both ticagrelor and rivaroxaban during cardiothoracic surgery. CytoSorb has also received FDA Emergency Use Authorization in the United States for use in adult critically ill COVID-19 patients with imminent or confirmed respiratory failure. The DrugSorb™-ATR Antithrombotic Removal System, which is based on the same polymer technology as CytoSorb, has also been granted FDA Breakthrough Designation for the removal of ticagrelor, as well as FDA Breakthrough Designation for the removal of the direct oral anticoagulant (DOAC) drugs, apixaban and rivaroxaban, in a cardiopulmonary bypass circuit during urgent cardiothoracic surgery. The Company has initiated two FDA approved pivotal trials designed to support U.S. marketing approval of DrugSorb-ATR. The first is the 120-patient, 30 center STAR-T (Safe and Timely Antithrombotic Removal-Ticagrelor) randomized, controlled trial evaluating the ability of intraoperative DrugSorb-ATR use to reduce perioperative bleeding risk in patients on ticagrelor undergoing cardiothoracic surgery. The second is the 120-patient, 30 center STAR‑D (Safe and Timely Antithrombotic Removal-Direct Oral Anticoagulants) randomized, controlled trial, evaluating the intraoperative use of DrugSorb–ATR to reduce perioperative bleeding risk in patients undergoing cardiothoracic surgery on direct oral anticoagulants, including apixaban and rivaroxaban.
CytoSorbents' purification technologies are based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption. Its technologies have received non-dilutive grant, contract, and other funding of more than $39.5 million from DARPA, the U.S. Department of Health and Human Services (HHS), the National Institutes of Health (NIH), National Heart, Lung, and Blood Institute (NHLBI), the U.S. Army, the U.S. Air Force, U.S. Special Operations Command (SOCOM), Air Force Material Command (USAF/AFMC), and others. The Company has numerous marketed products and products under development based upon this unique blood purification technology protected by many issued U.S. and international patents and registered trademarks, and multiple patent applications pending, including ECOS-300CY®, CytoSorb-XL™, HemoDefend-RBC™, HemoDefend-BGA™, VetResQ®, K+ontrol™, DrugSorb™, DrugSorb™-ATR, ContrastSorb, and others. For more information, please visit the Company's websites at www.cytosorbents.com and www.cytosorb.com or follow us on Facebook and Twitter.
Forward-Looking Statements
This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, future targets and outlooks for our business, expectations regarding the future impacts of COVID-19 or the ongoing conflict between Russia and the Ukraine, representations and contentions and are not historical facts and typically are identified by use of terms such as "may," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements in this press release represent management's current judgment and expectations, but our actual results, events and performance could differ materially from those in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, the risks discussed in our Annual Report on Form 10-K, filed with the SEC on March 10, 2022, as updated by the risks reported in our Quarterly Reports on Form 10-Q, and in the press releases and other communications to shareholders issued by us from time to time which attempt to advise interested parties of the risks and factors which may affect our business. We caution you not to place undue reliance upon any such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required under the Federal securities laws.
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Investor Relations Contact:
Terri Anne Powers
Vice President, Investor Relations
and Corporate Communications
(732) 482-9984
tpowers@cytosorbents.com
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Ceragon to provide microwave and millimeter wave transport solutions for rapid deployment of DISH's nationwide 5G Smart Network™
RICHARDSON, Texas, May 2, 2022 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), a global innovator and leading solutions provider of 5G wireless transport, today announced an agreement with DISH Wireless (NASDAQ: DISH) to provide ultra-high capacity IP-50C microwave and IP-50E millimeter wave transport solutions.
DISH, which is deploying America's first cloud-native 5G Smart Network™, selected Ceragon for its field-proven, innovative and reliable technology, as well as its delivery and deployment capabilities. DISH will leverage Ceragon's transport, maintenance and support solutions to ensure the smooth roll-out of its network in select locations across the country.
Doran Arazi, Ceragon Networks CEO commented, "Ceragon is thrilled to have been selected by DISH to provide 5G wireless transport solutions. As the industry disruptor, DISH is strategically adopting cutting-edge network architectures and technologies, and Ceragon's groundbreaking wireless transport offering is fully aligned with DISH's requirements. With solutions that power some of the most advanced 5G networks worldwide and address the unique transport challenges 5G networks present, Ceragon is well-positioned and committed to helping DISH deliver on its vision."
Ceragon offers DISH an optimized wireless transport solution, in terms of Total Cost of Ownership (TCO), reliability and time to market. Ceragon's innovative solutions and rapid turnkey network deployment capabilities will allow DISH to quickly gain market share as it expands its 5G network and delivers advanced 5G services.
About Ceragon Networks
Ceragon Networks Ltd. (NASDAQ: CRNT) is the global innovator and leading solutions provider of 5G wireless transport. We help operators and other service providers worldwide increase operational efficiency and enhance end customers' quality of experience with innovative wireless backhaul and fronthaul solutions. Our customers include service providers, public safety organizations, government agencies and utility companies, which use our solutions to deliver 5G & 4G broadband wireless connectivity, mission-critical multimedia services, stabilized communications, and other applications at high reliability and speed.
Ceragon's unique multicore technology and disaggregated approach to wireless transport provides highly reliable, fast to deploy, high-capacity wireless transport for 5G and 4G networks with minimal use of spectrum, power, real estate, and labor resources. It enables increased productivity, as well as simple and quick network modernization, positioning Ceragon as a leading solutions provider for the 5G era. We deliver a complete portfolio of turnkey end-to-end AI-based managed and professional services that ensure efficient network rollout and optimization to achieve the highest value for our customers. Our solutions are deployed by more than 400 service providers, as well as more than 800 private network owners, in more than 150 countries. For more information please visit: www.ceragon.com
For more information about our company you should read our Annual Report on Form 20-F for the fiscal year ended December 31, 2020 as well as any document we file or furnish with the Securities and Exchange Commission (SEC) by accessing the SEC's website at www.sec.gov.
Safe Harbor
Ceragon Networks® and FibeAir® are registered trademarks of Ceragon Networks Ltd. in the United States and other countries. CERAGON ® is a trademark of Ceragon Networks Ltd., registered in various countries. Other names mentioned are owned by their respective holders.
This press release contains statements that constitute "forward-looking statements" within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Ceragon's management about Ceragon's business, financial condition, results of operations, micro and macro market trends and other issues addressed or reflected therein. Examples of forward-looking statements include, but are not limited to, statements regarding: projections of demand, revenues, net income, gross margin, capital expenditures and liquidity, competitive pressures, order timing, supply chain and shipping, components availability, growth prospects, product development, financial resources, cost savings and other financial and market matters. You may identify these and other forward-looking statements by the use of words such as "may", "plans", "anticipates", "believes", "estimates", "targets", "expects", "intends", "potential" or the negative of such terms, or other comparable terminology, although not all forward-looking statements contain these identifying words.
Although we believe that the projections reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations therefrom will not be material. Such forward-looking statements involve known and unknown risks and uncertainties that may cause Ceragon's future results or performance to differ materially from those anticipated, expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the continuing impact of the components shortage due to the global shortage in semiconductors, chipsets, components and other commodities, on our supply chain, manufacturing capacity and ability to timely deliver our products, which have caused, and could continue to cause delays in deliveries of our products and in the deployment of projects by our customers, risk of penalties and orders cancellation created thereby, as well as profit erosion due to constant price increase, payment of expedite fees and costs of inventory pre-ordering and procurement acceleration of such inventory, and the risk of becoming a deadstock if not consumed; the continued effect of the global increase in shipping costs and decrease in shipping slots availability on us, our supply chain and customers, which have resulted, and may continue to result in, price erosion, late deliveries and the risk of penalties and orders cancellation due to late deliveries; the impact of the transition to 5G technologies on our revenues if such transition is developed differently than we anticipated; the risks relating to the concentration of a major portion of our business on large mobile operators around the world from which we derive a significant portion of our ordering, that due to their relative effect on the overall ordering coupled with inconsistent ordering pattern and volume of business directed to us, creates high volatility with respect to our financial results and results of operations; the effect of the competition from other wireless transport equipment providers and from other communication solutions that compete with our high-capacity point-to-point wireless products; the continued effect of the COVID-19 pandemic on the global economy and markets and on us and on the markets in which we operate and our and our customers, providers, business partners and contractors business and operations; the risks relating to increased breaches of network or information technology security along with increase in cyber-attack activities, growing cyber-crime threats, and changes in privacy and data protection laws, that could have an adverse effect on our business; risks associated with any failure to meet our product development timetable, including delay in the commercialization of our new chipset; imposition of additional sanctions and global trade limitations in connection with Russia's invasion to Ukraine, the effects of general economic conditions and trends on the global and local markets in which we operate and such other risks, uncertainties and other factors that could affect our results, as further detailed in Ceragon's most recent Annual Report on Form 20-F and in Ceragon's other filings with the Securities and Exchange Commission.
Such forward-looking statements, including the risks, uncertainties and other factors that could affect our results, represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. Such forward-looking statements do not purport to be predictions of future events or results and there can be no assurance that it will prove to be accurate. Ceragon may elect to update these forward-looking statements at some point in the future but the company specifically disclaims any obligation to do so except as may be required by law.
Ceragon's public filings are available on the Securities and Exchange Commission's website at www.sec.gov and may also be obtained from Ceragon's website at www.ceragon.com.
Ceragon Investor & Media Contact:
Maya Lustig
Ceragon Networks
Tel. +972-54-677-8100
mayal@ceragon.com
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SOURCE Ceragon Networks Ltd. | https://www.whsv.com/prnewswire/2022/05/02/dish-wireless-selects-ceragon-5g-transport/ | 2022-05-02T11:49:38Z |
SALT LAKE CITY, May 2, 2022 /PRNewswire/ -- With pandemic-induced anxiety and depression levels increasing by 25 percent globally in 2021 and countries scrambling to support citizens' mental health, one CEO is citing five steps for improved outcomes during National Mental Health Month in May.
"Some mental health aspects are highly vulnerable to environmental influences, and the pandemic has certainly levied an unprecedented effect on workers," said Kevin Guest, chairman and CEO of USANA Health Sciences (NYSE: USNA). "I've adopted five practices that consistently bring a more balanced approach to function at higher levels."
Maintaining social support is top of the list to combat the isolation many have experienced.
"Even in today's hybrid working environment, staying connected to a network of people, groups and organizations that are supportive and fun is key to good mental health," said Guest. "This includes friends, neighbors, volunteer opportunities, church, book clubs, support groups, community events and extended family members."
Author of bestselling All the Right Reasons: 12 Timeless Principles for Living a Life in Harmony, Guest grew up in Montana close to friends and family who shaped his outlook for living a balanced life and supported his hobbies, such as playing music. As a teen, Guest formed a country band that toured and was headed to Nashville.
"I've been fortunate to perform with country star Collin Raye's band, playing at Nashville's Grand Ole Opry and sharing the stage with Brooks and Dunn, Keith Urban, Diamond Rio and many others," he said. "Not only is music my passion, but I've found it's a necessary outlet for mental balance, and that people benefit by doing hobbies they love."
The third step is committing to consume nutritious foods.
"Eating a healthy diet can support brain function, resulting in positive emotional and behavioral health," Guest said. "Experts agree eating plenty of vegetables and fruit, with lean protein and moderate carbohydrates is ideal for most people. Because health begins at the cellular level, good intake naturally results in a good output."
Effectively managing demands of the day, such as planning, prioritizing, organizing and time management, is the fourth key to balance and harmony.
"Leading a global company can bring high levels of nonstop stress," said Guest, whose years of growing up surrounded by nature helps him calmly assess situations. "In my quest to live a life in harmony, a habit of setting clear priorities in the greater context is one secret to regulate personal energy, cope with stress and avoid a multitude of problems."
Finally, regular exercise with much needed down time brings balance and helps prevent anxiety and depression, as well as other mental and physical health issues.
"Relaxation and adequate sleep are as important as exercise for stress management and overall mental health," he said. "Each person must identify their personal sleep needs but getting 7 to 8 hours of sleep has greatly improved my ability to handle daily challenges."
Leading a billion-dollar company in 24 markets worldwide, Guest shares these principles globally and expects work environments will improve as key mental health steps are taken.
"By persistently working on these five items, I know we can reach higher levels of balance, harmony and happiness everyone deserves," he said.
All proceeds from All the Right Reasons are directed to feed two million meals to hungry children. Available on Amazon, the book provides 40 meals for each single purchase.
For more information, visit www.kevinguest.com.
MEDIA CONTACT:
Tim Brown, Candid Communications
tim@candidcom.com
801-557-1466
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SOURCE USANA | https://www.whsv.com/prnewswire/2022/05/02/during-national-mental-health-month-bestselling-authorceo-shares-5-steps-harmony-balance/ | 2022-05-02T11:49:45Z |
BOGOTÁ, D.C., May 2, 2022 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that in the board meeting held on April 29 of 2022, the board of directors authorized the divestment of its entire ownership in Inversiones de Gases de Colombia S.A. ("Invercolsa"), which corresponds to an equity stake of 51.8%. Such divestment is subject to obtaining all corresponding governmental approvals and to the fulfillment of all necessary steps dictated by Law 26 of 1995.
The primary objective of the decision is to divest a non-strategic asset for our energy transition and growth objectives, and to reallocate capital to new opportunities aligned with our 2040 Strategy.
Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 17,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. This press release contains business prospect statements, operating and financial result estimates, and statements related to Ecopetrol's growth prospects. These are all projections and, as such, they are based solely on the expectations of the managers regarding the future of the company and their continued access to capital to finance the company's business plan. The realization of said estimates in the future depends on the behavior of market conditions, regulations, competition, the performance of the Colombian economy and the industry, among other factors, and are consequently subject to change without prior notice.
This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements.
For more information, please contact:
Head of Capital Markets
Tatiana Uribe Benninghoff
Email: investors@ecopetrol.com.co
Head of Corporate Communications
Mauricio Téllez
Email: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A. | https://www.whsv.com/prnewswire/2022/05/02/ecopetrol-initiates-divestment-process-equity-share-inversiones-de-gases-de-colombia-sa/ | 2022-05-02T11:49:51Z |
SOUTHLAKE, Texas, May 2, 2022 /PRNewswire/ -- In honor of Teacher Appreciation Month, 25 inspirational educators from across the country have been named finalists in eDynamic Learning's annual Career Compass Teacher Awards. eDynamic Learning is the largest provider of Career Technical Education (CTE) and elective digital curriculum in North America for grades 6-12. The awards were open to any United States certified teacher currently teaching eDynamic Learning courses or using Knowledge Matters simulations in their public, private, virtual, or charter school program. Among the many prizes, teachers have the opportunity to earn a curriculum grant, complimentary professional development, and much more. The finalists span the nation from Florida to Alaska, and will be recognized live at a virtual ceremony on Saturday, May 21st, 2022.
A no-cost professional development event for teachers will take place before and after the ceremony. All districts are welcome to attend to learn more about eDynamic Learning and Knowledge Matters curriculum for in-class instruction, blended learning, online learning, or best practices for utilizing digital curriculum and resources. With many schools having little time for professional development this year, the May 21st Streamline Instruction Professional Development event will provide an opportunity for teachers to learn best practices to save time, streamline their instruction, and meet the needs of all learners.
Kicking off the event is keynote speaker, Miquel Lopez, a former high school student and now a business and marketing executive, who will share the impact his teacher and CTE had on his life and career. Miquel began his career at Wieden+Kennedy, where he touched various brands, including TurboTax, Old Spice, Secret, Chiquita, Visa, and many others.
"Our mission is to help teachers guide their students in career discovery through our digital curriculum to match their skills and interests to a rewarding and successful career. We know that a teacher's ability to impact the world is profound and we are excited to honor and recognize their hard work and dedication at our professional development event this year!" said Tyler Wood, Vice President of Marketing & Professional Development for eDynamic Learning.
Finalists using eDynamic Learning digital curriculum include:
Susannah Azzaro, Pennsylvania Distance Learning Charter School, Pennsylvania
Jennifer Badeaux, Orange County Virtual School, Florida
Summer Highfill, Oregon Charter Academy, Oregon
Terry Kass, Lake County High Schools Tech Campus, Illinois
Rebekah Kitchin, Matanuska-Susitna Borough School District, Alaska
Jennifer Lewis, DeSales High School, Kentucky
Paula Life, Proximity Learning, Texas
David Marks, Lake County High Schools Tech Campus, Illinois
Nancy Ortner, Visions in Education, California
Natalie O'Meara, Orange County Virtual School, Florida
Sheryl Prather, Azle High School, Texas
Glenna Rutan, Orange County Virtual School, Florida
Kimberly Schor, Branson School Online, Colorado
Carrie Woods, Orange County Virtual School, Florida
Finalists using Knowledge Matters simulations from eDynamic Learning include:
Bryan Bernacki, Portage High School, Indiana
Yoelin Cabrera-Fernandez, Southwest Miami High School, Florida
Lou DiCesare, West Irondequoit Central School District, New York
Ryan Dockter, Griggs County Central School District, North Dakota
Wendy Grote, Divide County High School, North Dakota
Noureddine Lalami, Freedom High School, California
Michelle Le, Panther Creek High School, North Carolina
Leslie McBride, Colonial Heights High School, Virginia
Halee Porter, Northside High School, Texas
Renee Rouleau White, Washington High School, Washington
Amy Sullivan, Cedar Crest High School, Pennsylvania
About eDynamic Learning
With offices in Southlake, Texas and Kelowna, BC, Canada, eDynamic Learning is a teacher-founded company with a mission of helping students find their passion through CTE and career-focused elective curriculum. Offering nearly 250 digital courses for grades 6-12, eDynamic Learning courseware is comprehensive and includes lessons, discussions, assessments and activities, and is often used as a textbook replacement. Courses work continuously in any instructional model, run on all devices, and are compatible with nearly all Learning Management Systems. Courses also meet WCAG 2.0AA guidelines and offer translations and literacy support tools.
About Knowledge Matters, an eDynamic Learning Company
Knowledge Matters is the leading provider of simulation-based educational content with over one-third of all U.S. high schools using the Virtual Business line of simulations. Popular with Career Technical Student Organizations (CTSOs), Knowledge Matters' simulations are used in business, marketing, personal finance, fashion, and hospitality classes. The simulations put students in charge of businesses - learning valuable concepts and applying their problem solving and decision making skills in an interactive, risk-free environment that allows them to see the impact of their choices immediately. To develop the simulations, Knowledge Matters partnered with leading organizations such as the J. Willard and Alice S. Marriott Foundation and the Fashion Institute of Design & Merchandising.
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SOURCE eDynamic Learning | https://www.whsv.com/prnewswire/2022/05/02/finalists-announced-edynamic-learnings-2022-teacher-awards/ | 2022-05-02T11:49:57Z |
The American Free Enterprise Chamber of Commerce will focus on Free Markets, Limited Government, and American Business
DES MOINES, Iowa, May 2, 2022 /PRNewswire/ -- Today, Terry Branstad, former Governor of Iowa and the longest serving governor in U.S. history, announced the launch of a new commerce group – The American Free Enterprise Chamber of Commerce. Headquartered in Branstad's home state of Iowa, the group will serve as the voice for American business and is the first pro-business and free markets organization with national reach, rooted in common sense values.
"America's business owners and entrepreneurs are the backbone of this nation, and for too long their voices have not been well-represented in Washington," said Branstad, Chairman of American Free Enterprise Chamber (AmFree Chamber). "Our goal is to ensure that the interests of American businesses remain a top priority for our nation's leaders while fighting for equal economic opportunity for every American."
AmFree Chamber will focus on advocating for free markets and limited government while working to eliminate outdated regulations and tax policies that hurt entrepreneurs and small to mid-sized businesses. Chairman Branstad's experience as a former Ambassador to China will play a key role in the group's efforts to hold China accountable to standards of fairness and reciprocity.
Gentry Collins, the former Republican National Committee Political Director and former Executive Director of the Iowa Republican Party, will serve as the group's CEO.
"Free, fair, open markets have created more progress and prosperity than all other economic systems combined. The AmFree Chamber will nurture and grow the principles that allow free enterprise to thrive," said Collins.
Somsak Chivavibul, a financial expert with decades of experience in accounting, treasury, and financial reporting, will serve as Chair of the group's Governance and Accountability Committee. Chivavibul previously served as Chief Financial Officer of Navient, a publicly traded, student-loan servicing business and spent over 20 years at Sallie Mae where he was a Senior Vice President.
"A group like this requires strong principles, and Chairman Branstad is the right leader for this mission," said Chivavibul. "We are dedicated to earning and keeping the trust of our members and from a financial perspective that means transparency and accountability."
AmFree Chamber is committed to transparency, and its IRS filings will be made publicly available. It will maintain an independent governance and accountability committee, and board members will be term limited. These measures will allow members to maintain confidence that their dues are well and effectively spent and will keep the organization mission focused.
For more information on the American Free Enterprise Chamber of Commerce, please visit: www.amfreechamber.com
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SOURCE The American Free Enterprise Chamber of Commerce | https://www.whsv.com/prnewswire/2022/05/02/former-us-governor-terry-branstad-launches-new-commerce-group/ | 2022-05-02T11:50:04Z |
- Conference Call and Webcast Today at 8:30 a.m. ET / 5:30 a.m. PT -
TEL AVIV, Israel, May 2, 2022 /PRNewswire/ -- Galmed Pharmaceuticals Ltd. (NASDAQ: GLMD) ("Galmed" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of the liver targeted SCD1 modulator Aramchol™, an oral therapy for the treatment of nonalcoholic steatohepatitis, or NASH and fibrosis, provides today updated information on the Company's scientific and clinical development programs and reports financial results for the three and twelve months ended December 31, 2021.
Recent Clinical & Scientific Developments
- Announced positive interim results from Open-Label part of the ARMOR study showing that treatment with Aramchol 300mg BID resulted in a high rate of fibrosis improvement using three separate biopsy reading methodologies (NASH CRN, Ranked paired reading and a Quantitative Digital Pathology image analysis and artificial intelligence (AI) method), with a larger treatment effect with longer duration of therapy.
- Results of post baseline biopsies performed either at 24 weeks or at 48 weeks from 46 subjects with NASH and F1-3 that received Aramchol showed greater histological improvement at week 48 in both paired and AI evaluations (65% and 100% respectively) compared to NASH CRN scoring (40%).
Financial Summary – Full Year 2021 vs. Full Year 2020; 4Q21 vs. 4Q20:
For the three and twelve months ended December 31, 2021, the Company recorded a net loss of $7.5 million and $32.5 million or $0.30 and $1.32 per share, respectively, compared with a net loss of $10.3 million and $28.8 million, or $0.48 and $1.35 per share, for the three and twelve months ended December 31, 2020.
Research and development expenses were $27.2 million for the twelve months ended December 31, 2021, compared with $26.1 million for the twelve months ended December 31, 2020. The increase for the twelve months resulted primarily from an increase in clinical trial expenses in connection with the Company's ongoing ARMOR study, partially offset by a decrease in expenses related to CMC and formulation expenses.
For the three months ended December 31, 2021, research and development expenses totaled $6.3 million, which compares with $9.0 million for the same period in 2020. The decrease for the three months resulted primarily from a decrease in clinical trial expenses and a decrease in expenses related to CMC and formulation expenses.
The Company incurred general and administrative expenses of $5.7 million for the twelve months ended December 31, 2021, compared with $4.1 million for the twelve months ended December 31, 2020. The increase for the twelve months primarily resulted from an increase in salaries and benefits expenses, and as well from an increase in the cost of the Company's D&O insurance policy premium.
For the three months ended December 31, 2021, general and administrative expenses totalled $1.2 million, which compares with $1.3 million for the same period in 2020.
Financial income, net amounted to $0.4 million for the twelve months ended December 31, 2021, compared with $1.4 million for the twelve months ended December 31, 2020. For the three months ended December 31, 2021, financial income, net totalled $0.04 million, which compares with $0.07 million for the same period in 2020.
- Cash and cash equivalents, restricted cash, short-term deposits, and marketable debt securities totaled $34.9 million as of December 31, 2021, compared with $51.0 million as of December 31, 2020.
More detailed information can be found in the Company's Annual Report on Form 20-F, a copy of which has been filed with the Securities and Exchange Commission and posted on the Company's website at www.galmedpharma.com. You may request a copy of the Company's Form 20-F, at no cost to you, by writing to the Chief Financial Officer of the Company at 16 Tiomkin Street, Tel Aviv, Israel, 6578317 or by calling +972-3-693-8448.
Conference Call & Webcast:
May 2, 2022, 8:30 AM ET Toll Free: 1-877-425-9470
Toll/International: 1-201-389-0878
Israel Toll Free: 1 809 406 247
Conference ID: 13727793
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1535647&tp_key=893b75d833
Replay Dial-In Numbers
Toll Free: 1-844-512-2921
Toll/International: 1-412-317-6671
Replay Pin Number: 13727793
Replay Start: Monday May 2, 2022, 11:30 AM ET
Replay Expiry: Monday May 16, 2022, 11:59 PM ET
Galmed Pharmaceuticals Ltd.
Galmed Pharmaceuticals Ltd. is a clinical stage drug development biopharmaceutical company for liver, metabolic and inflammatory diseases. Our lead compound, Aramchol™, a backbone drug candidate for the treatment of NASH and fibrosis is currently in a Phase 3 registrational study. We are also collaborating with the Hebrew University in the development of Amilo-5MER, a 5 amino acid synthetic peptide.
Forward-Looking Statements:
This press release may include forward-looking statements. Forward-looking statements may include, but are not limited to, statements relating to Galmed's objectives, plans and strategies, as well as statements, other than historical facts, that address activities, events or developments that Galmed intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as "believes," "hopes," "may," "anticipates," "should," "intends," "plans," "will," "expects," "estimates," "projects," "positioned," "strategy" and similar expressions and are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Many factors could cause Galmed's actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: the timing and cost of Galmed's pivotal Phase 3 ARMOR trial, or the ARMOR Study or any other pre-clinical or clinical trials; completion and receiving favorable results of the ARMOR Study for Aramchol or any other pre-clinical or clinical trial; the impact of the COVID-19 pandemic; regulatory action with respect to Aramchol or any other product candidate by the FDA or the EMA; the commercial launch and future sales of Aramchol or any other future products or product candidates; Galmed's ability to comply with all applicable post-market regulatory requirements for Aramchol or any other product candidate in the countries in which it seeks to market the product; Galmed's ability to achieve favorable pricing for Aramchol or any other product candidate; Galmed's expectations regarding the commercial market for NASH patients or any other indication; third-party payor reimbursement for Aramchol or any other product candidate; Galmed's estimates regarding anticipated capital requirements and Galmed's needs for additional financing; market adoption of Aramchol or any other product candidate by physicians and patients; the timing, cost or other aspects of the commercial launch of Aramchol or any other product candidate; the development and approval of the use of Aramchol or any other product candidate for additional indications or in combination therapy; and Galmed's expectations regarding licensing, acquisitions and strategic operations. More detailed information about the risks and uncertainties affecting Galmed is contained under the heading "Risk Factors" included in Galmed's most recent Annual Report on Form 20-F filed with the SEC on May 2, 2022, and in other filings that Galmed has made and may make with the SEC in the future. The forward-looking statements contained in this press release are made as of the date of this press release and reflect Galmed's current views with respect to future events, and Galmed does not undertake and specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Galmed Pharmaceuticals Ltd. | https://www.whsv.com/prnewswire/2022/05/02/galmed-pharmaceuticals-provides-business-update-reports-fourth-quarter-year-end-2021-financial-results/ | 2022-05-02T11:50:10Z |
VAUGHAN, ON, May 2, 2022 /PRNewswire/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) ("GFL", "we", "our" or the "Company"), a leading North American diversified environmental services company, today announced the acquisition of Sprint Waste Services ("Sprint Waste"), a vertically integrated network of solid waste assets across 14 sites in Texas and two sites in Louisiana, including two C&D landfills in the Greater Houston Area. The Sprint Waste assets are supported by a fleet of over 400 vehicles and more than 500 employees.
"We continue to demonstrate our ability to successfully execute on our growth strategy of pursuing strategic and accretive acquisitions," said Patrick Dovigi, Founder and Chief Executive Officer of GFL. "The acquisition of Sprint Waste provides us with a unique opportunity to acquire a vertically integrated, complementary set of assets, while further densifying our solid waste footprint within the Southern United States. We are excited to welcome the over 500 Sprint Waste employees to the GFL family."
Mr. Dovigi added, "Sprint Waste has operated a regional platform with industry-leading margins for over 15 years under the ownership of Joseph Swinbank and his family. We are excited that Joe and his sons, Will and Reagan Swinbank, will continue to support the business going forward as both consultants and shareholders of GFL."
Mr. Dovigi continued, "In addition to the acquisition of Sprint Waste, since the start of the year we have completed 20 acquisitions across multiple geographies, the majority of which were small tuck-in acquisitions, further densifying our footprint. Together, these acquisitions are expected to contribute approximately $300 million in aggregate annualized revenue."
Mr. Dovigi concluded, "We have also remained focused on rationalizing our balance sheet to maximize the value of our asset base. Year-to-date, we received cash proceeds of approximately $91.0 million from the sale of non-core assets and $224.0 million from the spin-off of GFL Infrastructure Group to Green Infrastructure Partners. The proceeds from these divestitures will continue to be redeployed in our organic and inorganic growth initiatives."
GFL financed the acquisitions completed year-to-date through its credit facility, the divestitures described above, cash on hand and the issuance of 3,976,434 subordinate voting shares as partial consideration for the acquisition of Sprint Waste, allowing the Company to maintain its current credit rating profile and leverage within previously stated ranges.
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of solid waste management, liquid waste management and soil remediation services through its platform of facilities across Canada and in more than half of the U.S. states. Across its organization, GFL has a workforce of more than 18,000 employees.
This release includes certain "forward-looking statements", including statements relating to the use of proceeds of the recently completed divestitures, the expected annualized revenue from recent acquisitions and maintaining the Company's credit rating profile and leverage levels. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance. Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by GFL as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the factors described in the "Risk Factors" section of GFL's annual information form for the 2021 fiscal year filed on Form 40-F and GFL's other periodic filings with the U.S. Securities and Exchange Commission and the securities commissions or similar regulatory authorities in Canada. These factors are not intended to represent a complete list of the factors that could affect GFL. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. GFL undertakes no obligation to publicly update any forward-looking statement, except as required by applicable securities laws. All dollar amounts are in Canadian dollars, unless otherwise noted.
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SOURCE GFL Environmental Inc. | https://www.whsv.com/prnewswire/2022/05/02/gfl-environmental-announces-densification-southern-us-footprint-with-acquisition-sprint-waste-services-provides-update-year-to-date-mampa-activity/ | 2022-05-02T11:50:16Z |
Chicago charity helps families emerging from homelessness by filling empty homes with donated furnishings
CHICAGO, May 2, 2022 /PRNewswire/ -- Mother's Day week at Humble Design Chicago means several formerly homeless Chicago moms and their children will soon be entering a warm, welcoming and dignified home that they can truly call their own.
Humble Design® and its passionate volunteers change empty residences into decorated homes filled with a personalized touch. This is accomplished through the charity's free professional design services and the repurposing of like-new furnishings donated by community members.
This week, four mothers and eight children who are emerging from local homeless shelters will be surprised by Humble Design's unique services at their home reveals.
On Wednesday, the Perez family is being serviced. Their home reveal near Jackson Park will be at 2 p.m. and is open to the media. Contact Julie Dickinson, Director of Humble Design Chicago, at julied@humbledesign.org to RSVP and receive additional details.
The Perez family has two daughters, a 4-year-old with TBCK, a rare neurogenetic disorder that requires around-the-clock care; and a 23-year-old who just completed esthetician school while working to pay for her degree. The girls are the pride and joy of Ms. Perez.
"This Mother's Day, we are celebrating the incredibly strong moms like Ms. Perez that we help each week," Dickinson said. "It is a joy to give mothers a fresh start and a sanctuary to call their home."
Humble Design works with referring agencies and local shelters to identify persons seeking to move forward in their lives after bouts of homelessness, with an emphasis on assisting single parents with children and veteran families.
U-Haul® serves as the charity's national sponsor, while Humble Design Chicago also receives local support from CB2 and other sponsors.
Clients take a personal stake in their newly furnished homes. Humble Design effectively:
- Helps 99 percent of those receiving its services escape the cycle of homelessness
- Services hundreds of families each year, and has helped more than 2,000 clients across its five national offices
- Offers "deco day" volunteer opportunities to Chicago companies, groups and individuals
- Makes supporting the fight against homelessness easy through corporate sponsorships, furnishing donations and financial gifts at humbledesign.org/chicago.
Welcome Home Fundraiser on Sept. 15
Join Humble Design Chicago for an unforgettable night under the stars at the striking three-acre landscaped roof of the Old Chicago Post Office for the second annual Welcome Home event on Sept. 15. Emceed by Lou Manfredini, the celebration will include food, cocktails and a live performance by Bumpus, Chicago's legendary nine-piece soul and funk band. Proceeds support Humble Design's mission to serve those emerging from homelessness with donated furniture and household goods.
About HUMBLE DESIGN
Humble Design is a nonprofit that helps families transitioning out of homeless shelters by providing furnishings and design services. The organization turns empty houses into clean, dignified and welcoming homes — a very simple idea that can change a family's future. Founded in 2009, the organization primarily serves single parents with children and veteran families. Humble Design has served more than 2,000 families nationally through its offices in Chicago, Cleveland, Detroit, San Diego and Seattle. humbledesign.org
About U-HAUL
Since 1945, U-Haul has been the No. 1 choice of do-it-yourself movers, with a network of more than 23,000 locations across all 50 states and 10 Canadian provinces. U-Haul Truck Share 24/7 offers secure access to U-Haul trucks every hour of every day through the customer dispatch option on their smartphones and our proprietary Live Verify technology. Our customers' patronage has enabled the U-Haul fleet to grow to approximately 176,000 trucks, 126,000 trailers and 46,000 towing devices. U-Haul offers nearly 855,000 rentable storage units and 73.6 million square feet of self-storage space at owned and managed facilities throughout North America. U-Haul is the largest retailer of propane in the U.S., and continues to be the largest installer of permanent trailer hitches in the automotive aftermarket industry. U-Haul has been recognized repeatedly as a leading "Best for Vets" employer and was recently named one of the 15 Healthiest Workplaces in America. uhaul.com
Contact:
Jeff Lockridge
Sebastien Reyes
E-mail: publicrelations@uhaul.com
Phone: 602-760-4941
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SOURCE Humble Design | https://www.whsv.com/prnewswire/2022/05/02/humble-design-deliver-mothers-day-surprise-4-moms-need/ | 2022-05-02T11:50:22Z |
HONG KONG, May 2, 2022 /PRNewswire/ -- iClick Interactive Asia Group Limited ("iClick" or the "Company") (Nasdaq: ICLK), a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2021 with the U.S. Securities and Exchange Commission (the "SEC") on May 2, 2022.
The Company's annual report on Form 20-F, which contains its audited consolidated financial statements, can be accessed on the SEC's website at www.sec.gov as well as on the Company's investor relations website at https://ir.i-click.com/.
About iClick Interactive Asia Group Limited
Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a leading enterprise and marketing cloud platform in China. iClick's mission is to empower worldwide brands to unlock the enormous market potential of smart retail. With its leading proprietary technologies, iClick's full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. Headquartered in Hong Kong, iClick currently operates in eleven locations across Asia and Europe. For more information, please visit ir.i-click.com.
For investor and media inquiries, please contact:
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SOURCE iClick Interactive Asia Group Limited | https://www.whsv.com/prnewswire/2022/05/02/iclick-interactive-asia-group-limited-files-2021-annual-report-form-20-f/ | 2022-05-02T11:50:28Z |
Quarterly Revenue of $85.9M, GAAP Net Income of $31M Represent 31% and 16% Year-Over-Year Growth, Respectively
YOKNEAM, Israel, May 2, 2022 /PRNewswire/ -- InMode Ltd. (NASDAQ: INMD) ("InMode"), a leading global provider of innovative medical technologies, today announced its consolidated financial results for the first quarter ended March 31, 2022.
First Quarter 2022 Highlights:
- Record first quarter revenues of $85.9 million, an increase of 31% compared to the first quarter of 2021: InMode's proprietary surgical technology platforms engaged in minimally invasive and subdermal ablative treatments represented 80% of quarterly revenues, while 10% came from InMode's hands-free platforms and 10% from InMode's traditional laser and non-invasive RF platforms
- GAAP net income of $31 million, compared to $26.6 million in the first quarter of 2021; *non-GAAP net income of $34.1 million, compared to $29.3 million in the first quarter of 2021
- GAAP diluted earnings per share(1) of $0.36, compared to $0.31 in the first quarter of 2021; *non-GAAP diluted earnings per share(1) of $0.40, compared to $0.34 in the first quarter of 2021
- Record quarterly revenues from consumables and service of $14.0 million, an increase of 79% compared to the first quarter of 2021
- Total cash position of $399.5 million as of March 31, 2022, including cash and cash equivalents, marketable securities, and short-term bank deposits
*Please refer to "Use of Non-GAAP Financial Measures" below for important information about non-GAAP financial measures. A reconciliation between U.S. GAAP and non-GAAP Statement of Income is provided following the financial statements that are included in this release. Non-GAAP results exclude share-based compensation adjustments.
(1) The GAAP and non-GAAP earnings per diluted share have been adjusted retroactively for a 1-for-2 stock split of InMode shares by way of an issuance of bonus shares that occurred pursuant to a resolution of our board of directors dated September 14, 2021.
Management Comments
"2022 started off strongly despite the uncertainty in the global markets," said Moshe Mizrahy, Chairman and Chief Executive Officer of InMode. "Operational challenges due to global supply chain issues and shipment price increases had an impact on our gross margins. However, we were successful in mitigating the impact of these challenges and were able to meet the growing demand and ensure each platform was delivered within 10 days. We estimate that supply chain challenges will continue, but we are monitoring it closely and proactively managing the process. We are reiterating our 2022 guidance and will continue to update as the year progresses."
"Despite all of the challenges that we faced in Q1, we continued to develop new features for our existing aesthetic platforms, create new ones and continue to allocate R&D resources in all of our new categories such as women's health, ENT and ED," commented Dr. Michael Kreindel, InMode's Chief Technology Officer, and Co-Founder.
Shakil Lakhani, President of InMode North America, said, "We reported record numbers for consumable sales, a strong indication of the growing utilization rate and demand for our platforms. Additionally, we've seen increased interest from medical professionals, as in-person events returned to pre-Covid levels, and we managed to attract larger audiences. We are optimistic about the overall demand for our products and anticipate that the North American business will continue to grow and be the main revenue contributor for InMode. We have and will continue to strategically hire sales representatives in different geographies to help us achieve our goals."
"As we expand our presence into the women's health market with our innovative EmpowerRF platform, we continue to receive positive feedback that drives InMode's credibility and supports our expansion as we hope to become the leader in this market," added Dr. Spero Theodorou, Chief Medical Officer of InMode.
First Quarter 2022 Financial Results
Total revenues for the first quarter of 2022 reached $85.9 million, an increase of 31% compared to the first quarter of 2021.
"We continued to see increased demand for our consumables in the first quarter, with particular strength in the U.S.," said Yair Malca, Chief Financial Officer. "Additionally, we expanded in international markets, where revenues outside the U.S. grew 51% year-over-year."
"Revenue growth from consumables and services grew 79% year-over-year, as a higher number of patients sought minimally invasive treatments along with our expanding install base. This is a strong indication that our platforms are used more frequently. We continue to demonstrate healthy gross margins, as we have successfully delivered an 83% rate, despite significant global supply chain challenges. As we've previously mentioned, we believe that our innovative platforms will allow us to support our long-term gross margin target model of 84%-86%," concluded Yair Malca.
Revenues outside the U.S. represented 38%, with Canada, Europe and Latin America being major contributors to the Company's growth.
GAAP gross margin for the first quarter of 2022 was 83%, compared to a gross margin of 85% in the first quarter of 2021. *Non-GAAP gross margin for the first quarter of 2022 was 83% and 85% for the first quarter of 2021. This decrease was primarily attributable to the increase of sales in international markets, mainly in countries where InMode operates through distributors, the increased level of consumable sales as part of the revenue mix and higher freight costs and supply chain issues.
GAAP operating margin for the first quarter of 2022 and 2021 was 41% as well. *Non-GAAP operating margin for the first quarter of 2022 was 44% compared to the operating margin of 45% in the first quarter of 2021.The decrease in non-GAAP operating margin is primarily attributable to change in gross margin.
InMode reported GAAP net income attributable to InMode Ltd. of $31 million, or $0.36 per diluted share, in the first quarter of 2022, compared to $26.6 million, or $0.31 per diluted share(1), in the first quarter of 2021. On a *non-GAAP basis, InMode reported net income attributable to InMode Ltd. of $34.1 million, or $0.40 per diluted share, in the first quarter of 2022, compared to $29.3 million, or $0.34 per diluted share(1), in the first quarter of 2021.
(1) The GAAP and non-GAAP earnings per diluted share have been adjusted retroactively for a 1-for-2 stock split of InMode shares by way of an issuance of bonus shares, that occurred pursuant to a resolution of our board of directors dated September. 14, 2021.
2022 Financial Outlook
Management provided an outlook for the full year of 2022, ending Dec. 31, 2022. Based on current estimates, management expects:
- Revenues between $415 million and $425 million
- *Non-GAAP gross margin between 84% and 86%
- *Non-GAAP income from operations between $199 million and $204 million
- *Non-GAAP earnings per diluted share between $2.06 and $2.11
This outlook is not a guarantee of future performance and stockholders should not rely on such forward-looking statements. See "Forward-Looking Statements" for additional information.
*Please refer to "Use of Non-GAAP Financial Measures" below for important information about non-GAAP financial measures. A reconciliation between U.S. GAAP and non-GAAP Statement of Income is provided following the financial statements that are included in this release. Non-GAAP results exclude share-based compensation adjustments.
Use of Non-GAAP Financial Measures
In addition to InMode's operating results presented in accordance with GAAP, this release contains certain non-GAAP financial measures including non-GAAP net income, non-GAAP earnings per diluted share, and non-GAAP operating margin. Because these measures are used in InMode's internal analysis of financial and operating performance, management believes they provide investors with greater transparency of its view of InMode's economic performance. Management also believes the presentation of these measures, when analyzed in conjunction with InMode's GAAP operating results, allows investors to more effectively evaluate and compare InMode's performance to that of its peers, although InMode's presentation of its non-GAAP measures may not be strictly comparable to the similarly titled measures of other companies. Schedules reconciling each of these non-GAAP financial measures are provided as a supplement to this release.
Conference Call Information
Mr. Moshe Mizrahy, Chairman and Chief Executive Officer, Dr. Michael Kreindel, Co-Founder and Chief Technology Officer, Mr. Yair Malca, Chief Financial Officer, Mr. Shakil Lakhani, President of North America, and Dr. Spero Theodorou, Chief Medical Officer, will host a conference call today, May 2, 2022, at 8:30 a.m. Eastern Time to discuss the first quarter 2022 financial results.
The Company encourages participants to pre-register for the conference call using the following link: https://dpregister.com/sreg/10164856/f208c6bfa8
Callers will receive a unique dial-in number upon registration, which enables immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.
For callers that opt out of pre-registration, please dial one of the following teleconferencing numbers. Please begin by placing your call 10 minutes before the conference call commences. If you are unable to connect using the toll-free number, please try the international dial-in number.
U.S. Toll-Free Dial-in Number: 1-833-316-0562
Israel Toll- Free Dial-in Number: 1-80-921-2373
International Dial-in Number: 1-412-317-5736
Webcast URL: https://services.choruscall.com/mediaframe/webcast.html?webcastid=f0uVBy8O
At:
8:30 a.m. Eastern Time
5:30 a.m. Pacific Time
3:30 p.m. Israel Time
The conference call will also be webcast live from a link on InMode's website at https://inmodemd.com/investors/events-presentations/. A replay of the conference call will be available from May 2, 2022, at 12 p.m. Eastern Time to May 16, 2022, at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers:
Replay Dial-in U.S TOLL-FREE: 1-877-344-7529
Replay Dial-in Canada TOLL-FREE: 855-669-9658
Replay Dial-in TOLL/INTERNATIONAL: 1-412-317-0088
Replay Pin Number: 4639678
To access the replay using an international dial-in number, please select the link below:
https://services.choruscall.com/ccforms/replay.html
A replay of the conference call will also be available for 90 days on InMode's website at https://inmodemd.com/investors/.
About InMode
InMode is a leading global provider of innovative medical technologies. InMode develops, manufactures, and markets devices harnessing novel radio frequency ("RF") technology. InMode strives to enable new emerging surgical procedures as well as improve existing treatments. InMode has leveraged its medically accepted minimally invasive RF technologies to offer a comprehensive line of products across several categories for plastic surgery, gynecology, dermatology, otolaryngology, and ophthalmology. For more information about InMode, please visit www.inmodemd.com.
Forward-Looking Statements
The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or InMode's future financial or operating performance, including the future performance described above under the heading titled "2021 Financial Outlook." Actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. In some cases, you can identify these statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions that concern our expectations, strategic plans or intentions. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, including with respect to the impact of the COVID-19 global outbreak. Consequently, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in InMode's Annual Report on Form 20-F filed with the Securities and Exchange Commission on February 10, 2022, as well as risk factors relating to the COVID-19 global outbreak and our future public filings. InMode undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which pertain only as of the date of this press release.
(1) The number of shares have been adjusted retroactively for a 1-for-2 stock split of InMode shares by way of an issuance of bonus shares that occurred pursuant to a resolution of our board of directors dated September 14, 2021.
(1) The number of shares have been adjusted retroactively for a 1-for-2 stock split of InMode shares by way of an issuance of bonus shares that occurred pursuant to a resolution of our board of directors dated September 14, 2021.
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SOURCE InMode | https://www.whsv.com/prnewswire/2022/05/02/inmode-reports-first-quarter-2022-financial-results/ | 2022-05-02T11:50:34Z |
Innoviz to Provide InnovizTwo LiDAR Sensor and Perception Software
TEL AVIV, Israel , May 2, 2022 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a leading provider of high-performance LiDAR sensors and perception software, announced today that one of the largest vehicle manufacturers in the world has selected Innoviz to become its direct LiDAR supplier across multiple brands. The selection, which is Innoviz's third major design win, follows more than two years of extensive diligence and qualification, and will increase Innoviz's forward-looking order book by $4 billion to $6.6 billion. The company will elaborate further on the new achievement on its coming quarterly earnings call on May 11 at 9:00a.m. ET.
"We are proud to deliver our outstanding InnovizTwo LiDAR and perception software as the direct supplier to support this new series production program," said Innoviz CEO and Co-Founder Omer Keilaf. "Being selected by a large-scale multi-brand global vehicle maker is a significant catalyst for Innoviz and we expect this will affect the entire industry which has been waiting for a decision of this magnitude. We are expecting the scope of this deal to grow even further as additional car brands within the group adopt our platform. In addition, we anticipate more car makers to follow this decision in their autonomous vehicle programs."
You can find footage of InnovizTwo LiDAR performance here.
About Innoviz Technologies
Innoviz is a global leader in LiDAR technology, working towards a future with safe autonomous vehicles on the world's roads. Innoviz's LiDAR and perception software "see" better than a human driver and reduce the possibility of error, meeting the automotive industry's strictest expectations for performance and safety. Operating across the U.S., Europe, and Asia, Innoviz has been selected by internationally-recognized premium car brands for use in consumer vehicles as well as by other commercial and industrial leaders for a wide range of use cases. For more information, visit innoviz-tech.com.
Forward Looking Statements
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by Innoviz, the anticipated technological capability of Innoviz's products, the markets in which Innoviz operates, Innoviz's forward-looking order book, and Innoviz's projected future results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. "Forward-looking order book" is the cumulative projected future sales of hardware and perception software based on current estimates of volumes and pricing relating to a project. Many factors could cause actual future events, and, in the case of our forward-looking order book, actual orders, to differ materially from the forward-looking statements in this announcement, including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to convert design wins into definitive orders and the magnitude of such orders, the ability to identify and realize additional opportunities, and potential changes and developments in the highly competitive LiDAR technology and related industries. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in Innoviz's annual report on Form 20-F filed with the SEC on March 30, 2022 and other documents filed by Innoviz from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Innoviz assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Innoviz gives no assurance that it will achieve its expectations.
Media Contact:
Media@innoviz-tech.com
Investor Contact:
Maya Lustig
Innoviz Technologies
2 Amal Street, Rosh Ha'Ayin,
4809202 Israel
+972 54 677 8100
Investors@innoviz-tech.com
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SOURCE Innoviz Technologies | https://www.whsv.com/prnewswire/2022/05/02/innoviz-selected-by-one-largest-global-vehicle-groups-be-its-direct-lidar-supplier-series-production-vehicles-increases-forward-looking-order-book-by-4-billion/ | 2022-05-02T11:50:40Z |
CARLSBAD, Calif., May 2, 2022 /PRNewswire/ -- Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) today announced that management will conduct its 2022 virtual Annual Meeting of Stockholders followed by a general corporate update on Thursday, June 2, 2022.
The agenda for the event is as follows:
- 5:00 p.m. – 5:15 p.m. ET (2:00 p.m. – 2:15 p.m. PT) – Virtual Annual Meeting of Stockholders
- All stockholders of record at the close of business on April 5, 2022 are invited to participate in the virtual Annual Meeting webcast, which will be broadcast live at http://www.virtualshareholdermeeting.com/IONS2022.
- Stockholders of record will receive an official proxy card, which contains important information, including a 16-digit control number, required to log-in, vote and submit questions during the Annual Meeting webcast.
- Proxy cards are mailed to stockholders from their brokerage firm. Ionis does not provide proxy cards or have access to proxy card information, including 16-digit control numbers.
- Stockholders should contact their brokerage firm at least 5 days in advance of the meeting for help obtaining a proxy card or to locate their control number or for instructions to access the Webcast.
- A help line will be available on the registration page for the live Annual Meeting webcast for participants requiring technical assistance in accessing or participating in the live event. There will not be a replay of the live Annual Meeting.
- 5:30 p.m. – 6:30 p.m. ET (2:30 p.m. – 3:30 p.m. PT) – Virtual corporate update presented by Brett P. Monia, Ph.D., Ionis' chief executive officer
- All interested parties may access the corporate update webcast live at https://ionispharma.com/investor-day-2022.
- During the live webcast, participants may submit questions using the online webcast platform.
- An archived replay of the corporate update will be posted for a limited time following the meeting at https://ir.ionispharma.com/events-and-presentations/upcoming-events.
Further information, including links and materials, are available on our website at https://ir.ionispharma.com/events-and-presentations/upcoming-events.
About Ionis Pharmaceuticals
For more than 30 years, Ionis has been the leader in RNA-targeted therapy, pioneering new markets and changing standards of care with its novel antisense technology. Ionis currently has three marketed medicines and a premier late-stage pipeline highlighted by industry-leading cardiovascular and neurological franchises. Our scientific innovation began and continues with the knowledge that sick people depend on us, which fuels our vision of becoming a leading, fully integrated biotechnology company.
To learn more about Ionis visit www.ionispharma.com and follow us on Twitter @ionispharma.
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SOURCE Ionis Pharmaceuticals, Inc. | https://www.whsv.com/prnewswire/2022/05/02/ionis-host-2022-virtual-annual-meeting-stockholders/ | 2022-05-02T11:50:46Z |
Total Damages to Exceed $125 Million After Court Applies Interest
THE WOODLANDS, Texas, May 2, 2022 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today announced that a New Orleans jury awarded it $93,878,108 in the Company's long-running court battle against Praxair/Linde, one of the industrial gas suppliers to Huntsman's Geismar, Louisiana MDI manufacturing site. The case was filed after Praxair refused to properly maintain its own Geismar facility and then repeatedly failed to supply Huntsman's requirements for industrial gas needed to manufacture MDI under long-term supply contracts that expired in 2013. The 12-person jury returned their verdict this past Friday, April 29, and, after the Court applies the appropriate amount of interest, total damages awarded Huntsman will exceed $125 million.
Peter R. Huntsman, Chairman, President and Chief Executive Officer, commented on the case after the jury verdict was returned: "This lawsuit was filed in 2014 and justice was a very long time coming. I could not be prouder of the entire Huntsman team – from our PU division and purchasing personnel who managed the constant operational and commercial upsets occurring when Praxair's poorly-maintained facilities went down from 2004 through 2013, to our corporate legal and finance teams that pursued the litigation through trial after we filed suit. They displayed the integrity, professionalism, perseverance, and ingenuity – hallmarks of Huntsman associates around the world – needed to take on and defeat an irresponsible and better-funded adversary on the ground at Geismar and in the courts in New Orleans. I'd like to recognize all of them and thank the 12 members of the jury and the trial judge for their time and commitment to fairness in the courtroom.
Mr. Huntsman continued: "After winning more than $600 million against Albemarle this past October, this jury verdict, which we are confident will be affirmed on appeal, makes the second substantial damages award Huntsman has secured in the past seven months. David Stryker, our General Counsel, led both these efforts and has put together an incredibly talented internal and external team of lawyers to ensure no legal wrong against the Company goes unredressed. My management team and I were more than happy to testify in each of these cases and I will be happy to testify whenever necessary in the future to make sure our shareholders get the full value of their stock ownership."
The case against Praxair was first filed in 2014 but owing to Covid-19 among other matters, did not go to trial until this April. After a three-week trial, the 12-person jury took less than three hours to render its verdict, unanimously finding that Praxair repeatedly breached its promises to Huntsman and that those breaches directly caused Huntsman substantial financial damages. Huntsman was represented in the case by Vinson & Elkins and the New Orleans-based trial firm of Chehardy, Sherman & Williams. James M. Williams of Chehardy and Jim Thompson of V&E were co-lead counsel during the trial.
About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2021 revenues of approximately $8 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Social Media:
Twitter: www.twitter.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman
Forward-Looking Statements:
Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed under the caption "Risk Factors" in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
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SOURCE Huntsman Corporation | https://www.whsv.com/prnewswire/2022/05/02/jury-awards-huntsman-94-million-case-against-praxairlinde/ | 2022-05-02T11:50:52Z |
- 2021 total revenue increased over 60% YoY to $12.8 million compared to the previous year
- Corporation's medical cannabis sales in 2021 increased to $4.6 million, representing 36% of total revenue
- The Corporation forecasts Q1 2022 sales revenue of ~ $4.5 million for the quarter
- Gross profit increased over 230% YoY to $4.9 million, driven by the continuous growth of the highly profitable medical cannabis segment
- Germany and the U.K. now represents more than 30% of the Corporation's medical cannabis sales as of Q4 2021
TORONTO, May 2, 2022 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Corporation") (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), the global medical cannabis leader expanding throughout Latin America and Europe, announced today its financial results for the year ended and quarter ended December 31, 2021. These filings are available for review on the Corporation's SEDAR profile at www.sedar.com. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.
Summary of Key Financial Results:
- The Corporation continues to benefit from increasing patient awareness and favorable regulatory progress internationally.
- Gross margins, before fair value adjustments of 73% on its medical cannabis revenue stream in 2021 compared to 49% for the previous year 2020.
- The Corporation continues to prudently manage expenses, with 2021 general and administrative ("G&A") expenses declining over 15% year-over-year.
Key Operating Statistics
Alvaro Torres, Khiron CEO and Director, comments, "2021 was a transformational year for the Corporation, using a unique patient-oriented strategy has allowed us to continue demonstrating quarterly growth, with a strong commitment to improving the quality of patients' lives. Khiron's focus includes creating a meaningful brand that resonates with patients and doctors, selling highly profitable products, creating unique real-world data demonstrating the positive effects of cannabis for medical usage, and finally, diversifying our geographic revenue streams."
Mr. Torres added, "The success we have experienced in Europe so far is due to Khiron's ability to leverage our novel understanding of medical cannabis in Latin America, driven by our health services strategy and validated by the extraordinary evidence we build every day from the data generated in our clinics. Khiron is currently one of the top-selling brands of medical cannabis in the UK, and we have grown our market share rapidly in Germany. We recently opened our first hybrid Zerenia™ clinic in the UK, and we have received excellent adoption from both patients and doctors."
Mr. Torres continues, "In Colombia, growth was partly due to our efforts to ensure insurance coverage for patients by the country's principal insurance companies. To date, in Colombia, our Zerenia™ Clinics have served more than 20,000 individual patients with medical cannabis. In Peru, we obtained key final product registrations ("Alixen"), and we will continue to grow as we introduce new THC-based formulations to the Peruvian market. During the second half of the year, we sold our first Khiron-branded product in Brazil, a market of more than 230 million people. We are currently completing construction of our first clinic in Rio de Janeiro, and introducing THC-based medications, which will position us as one of the top companies in medical cannabis in this country. As we focus on our B2C medical cannabis strategy, Khiron has also decided to discontinue sales of our KuidaTM CBD-based cosmetics product line. Although we are very proud of the brand we created, it is clear that our biggest growth opportunities are within the medical cannabis sector, where revenue is increasing quickly. In addition, the Company no longer requires our cannabis cultivation license in Uruguay as we are currently exporting our products directly from Colombia. The Uruguay asset was purchased in 2019 for a total consideration of approximately 8.5 million shares."
"These significant efforts from our team at Khiron provide confidence that 2022 will continue to be a very positive year for our entire corporation, as we support the well-being of our patients across the globe, and fuel Khiron's continued international expansion." comments Alvaro Torres, Chief Executive Officer and Director of the Corporation.
Khiron invites individual and institutional investors, as well as advisors and analysts, to attend the Corporation's Year End and Fourth Quarter 2021 Conference Call, followed by a Q&A session.
Conference Call Date: May 2nd, 2022
Time 10:00 a.m. Eastern time
Toll-free dial-in number: 1-888-664-6383
International dial-in number: 1-416-764-8650
Khiron is a leading vertically integrated international medical cannabis corporation with core operations in Latin America and Europe. Leveraging medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific, product innovation, and cannabis operations expertise to drive prescriptions and brand loyalty with patients worldwide. The Corporation has a sales presence in Colombia, Peru, Germany, UK, and Brazil and is positioned to commence sales in Mexico. The Corporation is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.
Visit Khiron online at investors.khiron.ca
Linkedin https://www.linkedin.com/company/khiron-life-sciences-corp/
This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron's control, including the risk factors discussed in Khiron's Annual Information Form which is available on Khiron's SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
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SOURCE Khiron Life Sciences Corp. | https://www.whsv.com/prnewswire/2022/05/02/khiron-life-sciences-reports-2021-fiscal-year-end-results/ | 2022-05-02T11:50:59Z |
Round led by Tribe Capital with 83North, Battery Ventures and Salesforce Ventures; Company to invest in expansion of global team to automate and optimize developer workflow.
LOS ANGELES and TEL AVIV, Israel, May 2, 2022 /PRNewswire/ -- LinearB, the engineering efficiency platform, today announced $50 million in Series B financing led by Tribe Capital. Joining Tribe Capital in the round is new investor Salesforce Ventures as well as existing investors Battery Ventures and 83North. Sri Pangular, partner at Tribe Capital, will join the LinearB board. This round brings total funding for LinearB to $71 million.
More than 5,000 software development organizations use LinearB as a source for engineering analytics and developer workflow optimization. The engineering efficiency platform correlates data from existing project management, Git, deployment and incident management tools to provide workflow metrics used to optimize the development process. Acknowledging that metrics alone won't improve development team performance, LinearB helps engineering teams identify automation opportunities that deliver dramatic and sustained improvement.
Adoption of LinearB has grown dramatically in the past year, from 1,500 development teams to now reaching over 5,000, including many leading companies like Bumble, BigID, Cloudinary, Unbabel and Drata. Part of LinearB's explosive growth in 2021 was fueled by its free tool, which offers dev teams pipeline metrics in fewer than five minutes.
"LinearB is already being used by more than 100,000 developers around the world to deliver significant and continuous improvement," said Sri Pangular, partner at Tribe Capital and LinearB's newest board member. "The LinearB approach not only provides comprehensive visibility into the development pipeline for engineering leadership, but also enables organizations to achieve and sustain efficiency improvement."
"Streamlining data directly to software development teams is the only sustainable way to improve engineering efficiency," said Alex Kayyal from Salesforce Ventures. "LinearB's developer-first automation gives every dev team the ability to improve autonomously, without manager involvement. We are excited to partner with LinearB as they scale their workflow automation solution."
LinearB will use the Series B funding to scale its engineering team and accelerate the development of its platform. LinearB will also invest in its customer success, sales and marketing teams to amplify its developer-first philosophy to workflow optimization in new markets across the globe.
"This round of funding expands our group of investors who recognize the vast potential of our developer-first approach to engineering efficiency," said Ori Keren, CEO and co-founder of LinearB. "If you're excited about cutting-edge developer tech, we invite you to join us. We're looking for talented individuals around the world—software engineers and customer success, sales and marketing experts—who want to create a category-defining platform."
LinearB user Shuki Levy, a team lead at Jit.io, said, "LinearB automates my non-coding workflows so I have more time to do what I love, build new features. WorkerB has also sped up collaboration between developers to get our code merged faster. It's one of my favorite tools."
Vice President of Research Jon Collins at GigaOM said, "We believe LinearB's developer-first, automation-driven approach to workflow improvement offers a powerful way to improve value stream metrics. As this market continues to mature from engineering efficiency to business effectiveness, we are excited to see how ML-driven developer workflow optimization enhances how software development teams deliver value to their organizations."
Visit https://linearb.io/careers/ to learn more about career opportunities at LinearB.
Recent LinearB Metrics and Milestones
Engineering organizations that use LinearB to automate development workflows see an average increase of 64% in speed of deployment over 120 days. This level of sustained improvement has led to an over 5x increase in sales since 2021.
"We're not just building a tool that helps dev teams, we're creating a community of engineering leaders that want to improve the way software development happens," said Dan Lines, co-founder and COO of LinearB, and host of the Dev Interrupted podcast.
Dev Interrupted, is the premiere community for software engineering leadership, consisting of a podcast that gets 2,000+ downloads a week and a Discord Community of 2,100+ engineering leaders and a bi-annual conference, INTERACT, that welcomed 1,700+ engineering leaders from 95 countries at its latest event. Visit https://devinterrupted.com/ to discover the new faces of engineering leadership.
About LinearB
Don't stop at "data-driven insights." LinearB is an engineering efficiency tool that correlates data across your tools to identify bottlenecks and automate developer workflow optimization. This developer-first approach to automating engineering improvement uses data as the foundation for creating autonomous, self-improving dev teams. Engineering organizations use LinearB to reduce cycle time, improve planning accuracy and ensure on-time value delivery.
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SOURCE LinearB | https://www.whsv.com/prnewswire/2022/05/02/linearb-secures-50m-funding-increasing-engineering-efficiency-by-enabling-developers-spend-more-time-coding/ | 2022-05-02T11:51:05Z |
VANCOUVER, BC, May 2, 2022 /PRNewswire/ - Montage Gold Corp. ("Montage" or the "Company") (TSXV: MAU) (OTCPK: MAUTF) is pleased to announce the appointment of Ms. Anu Dhir to the Company's Board of Directors effective immediately. Ms. Dhir, who is based in Toronto, Canada, is co-founder of Wshingwell, a for-profit community relationship platform that allows individuals, communities and organizations to micro-fundraise around experiences and events. Prior to starting Wshingwell, Ms. Dhir spent 20 years in the resources sector; most recently, as a co-founder and executive of ZinQ Mining, a private base and precious metals company that focuses on the Latin American Region. Prior to ZinQ Mining, Ms. Dhir was Vice President, Corporate Development and Corporate Secretary at Katanga Mining Limited. Ms. Dhir currently serves as a non-executive director on the Boards of Taseko Mines Limited and Lomiko Metals Inc. Ms. Dhir is a graduate of the General Management Program (GMP) at Harvard Business School and has a law degree (Juris Doctor) from Quinnipiac University and a Bachelor of Arts (BA) from the University of Toronto.
The Company also announces that, effective immediately, Richard P. Clark is stepping down as non-executive Chair of the Board but will continue to serve as a member of the Board. Peter C. Mitchell, who currently serves as a director of the Company, will assume the role of non-executive Chair.
Mr. Hugh Stuart, Chief Executive Officer commented, "I am very pleased to welcome Ms. Dhir to Montage. Ms. Dhir joins the Company at an important stage of the Company's development as we continue to advance our Koné Gold Project through permitting, financing, and exploration milestones. Ms. Dhir's depth of experience in the mining industry, particularly in African countries, combined with her legal expertise, enhances and compliments the skillsets currently represented on our Board of Directors.
I would also like to thank Mr. Clark for his leadership as Chair of the Board since the Company's inception in 2019 and look forward to his continued contribution and guidance in his continuing role as a director of Montage."
The Company also announces that it has granted an aggregate of 300,000 incentive stock options to Ms. Dhir. The options are exercisable, subject to vesting provisions, over a period of three years at a price of C$0.81 per share.
Montage is a Canadian-based precious metals exploration and development company focused on opportunities in Côte d'Ivoire. The Company's flagship property is the Koné Gold Project, located in northwest Côte d'Ivoire, which currently hosts a Probable Mineral Reserve of 161.1Mt grading 0.66g/t for 3.42M ounces of gold. The Company released the results of a DFS on the Koné Gold Project on February 14, 2022, outlining a 15-year gold project producing 3.06M ounces with average annual production of 207koz, and peak production of 320koz. Montage has a management team and Board with significant experience in discovering and developing gold deposits in Africa.
The technical disclosure contained in this press release have been approved by Hugh Stuart, BSc, MSc, a Qualified Person pursuant to NI 43-101. Mr. Stuart is the Chief Executive Officer of the Company, a Chartered Geologist and a Fellow of the Geological Society of London. Mr. Stuart is not independent of Montage as he is an officer, director and shareholder of Montage.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking information and forward-looking statements within the meaning of Canadian securities legislation (collectively, "Forward-looking Statements"). All statements, other than statements of historical fact, constitute Forward-looking Statements. Words such as "will", "intends", "proposed" and "expects" or similar expressions are intended to identify Forward-looking Statements. Forward looking Statements in this press release include statements that imply the Company will obtain sufficient or any project financing to permit the Project to be developed as expected, and also includes those related to the Company's mineral reserve and resource estimates; the timing and amount of future production from the Koné Gold Project; expectations with respect to the IRR, NPV, payback and costs of the Koné Gold Project; anticipated mining and processing methods of the Koné Gold Project; anticipated mine life of the Koné Gold Project; expected recoveries and grades of the Koné Gold Project; timing for the DFS; and timing for permits and concessions. Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties inherent in the preparation of mineral reserve and resource estimates and definitive feasibility studies such as the mineral reserve and resource estimates and the DFS, including but not limited to, assumptions underlying the production estimates not being realized, incorrect cost assumptions, unexpected variations in quantity of mineralized material, grade or recovery rates, unexpected changes to geotechnical or hydrogeological considerations, unexpected failures of plant, equipment or processes, unexpected changes to availability of power or the power rates, failure to maintain permits and licenses, higher than expected interest or tax rates, adverse changes in project parameters, unanticipated delays and costs of consulting and accommodating rights of local communities, environmental risks inherent in the Côte d'Ivoire, title risks, including failure to renew concessions, unanticipated commodity price and exchange rate fluctuations, risks relating to COVID-19, delays in or failure to receive access agreements or amended permits, the impact and progression of the COVID-19 pandemic and other risk factors set forth in the Company's annual information form under the heading "Risk Factors". The Company undertakes no obligation to update or revise any Forward-looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Montage to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
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SOURCE Montage Gold Corp | https://www.whsv.com/prnewswire/2022/05/02/montage-gold-corp-announces-new-board-member-non-executive-chairman/ | 2022-05-02T11:51:11Z |
(All amounts are in U.S. dollars unless otherwise indicated)
TORONTO, May 2, 2022 /PRNewswire/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE: NGD) reports first quarter results for the Company as of March 31, 2022. The Company will host a conference call and webcast today at 8:30 am Eastern Time to discuss the first quarter consolidated results (details are provided at the end of this news release). For detailed information, please refer to the Company's First Quarter Management's Discussion and Analysis (MD&A) and Financial Statements that are available on the Company's website at www.newgold.com and on SEDAR at www.sedar.com. The Company uses certain non-GAAP financial performance measures throughout this news release. Please refer to the "Non-GAAP Financial Performance Measures" section of this news release and the MD&A for more information. Numbered note references throughout this news release are to endnotes which can be found at the end of this news release.
- Gold equivalent1 ("gold eq.") production of 87,696 ounces (68,101 ounces of gold, 8.2 million pounds of copper and 109,511 ounces of silver)
- Operating expenses of $1,029 per gold eq. ounce
- All-in sustaining costs2 of $1,778 per gold eq. ounce, including total cash costs2 of $1,069 per gold eq. ounce
- Average realized gold price2 of $1,897 per ounce and average realized copper price2 of $4.53 per pound
- Cash generated from operations of $68 million, or $0.10 per share
- Cash generated from operations, before changes in non-cash operating working capital2 of $66 million, or $0.10 per share
- Net loss of $8 million, or ($0.01) per share
- Adjusted net earnings2 of $10 million, or $0.02 per share
- March 31, 2022 cash and cash equivalents of $432 million
"The first quarter saw New Gold continue to advance our objectives with a focus on delivering on our 2022 plan and securing and extending the Company's longer-term future," stated Renaud Adams, President & CEO. "We delivered solid total gold production at Rainy River, despite an increase in COVID-19 cases and during a quarter in which capitalized waste stripping was prioritized. While we faced the inflationary challenges experienced across the industry, our teams remained disciplined with their objectives and with the benefit of a weaker Canadian dollar, delivered strong operating cash flow in the first quarter. We currently expect to deliver on our 2022 guidance, and our operations continue to review optimization opportunities and assess cost reduction initiatives to mitigate against inflationary pressures. We also continued to advance our longer-term priorities, including advancing the development of the Intrepid underground zone at Rainy River and the B3 ramp-up and C-Zone development at New Afton."
"Additionally, we continue to transform the future of the Company, both operationally and financially. During the first quarter, our team delivered an updated Rainy River Technical Report, extending Rainy River's mine life to 2031, which is another positive milestone for future production, and something we will continue to build on. We added an experienced Chief Operating Officer which will be invaluable to the Company as we continue to advance multiple projects at both sites. We also announced our intention to redeem the remaining $100 million aggregate principal amount of our outstanding 2025 senior notes in mid-May, further improving our financial flexibility during this period of optimization for our Company," added Mr. Adams.
Consolidated Financial Highlights
- Revenues increased over the prior-year period due to higher gold and copper prices and higher gold sales volume, partially offset by lower copper sales volume.
- Operating expenses were consistent with the prior-year period.
- Net loss for the quarter compared to net earnings in the prior-year period primarily due to an unrealized loss on the revaluation of the gold stream obligation derivative resulting from the updated Technical Report for Rainy River.
- Adjusted net earnings2 increased over the prior-year period due to higher revenues, partially offset by higher depreciation and depletion and exploration.
- Operating cash flow increased over the prior-year period due to higher revenues and negative working capital movements in the prior-year period.
Consolidated Operational Highlights
Rainy River Mine
Operational Highlights
Operating Key Performance Indicators
- Open pit tonnes mined per day decreased over the prior-year period due to an increase in COVID-19 cases at site in the first part of the quarter impacting equipment utilization, and cold weather conditions affecting drilling productivity. Approximately 1.8 million ore tonnes and 8.9 million waste tonnes (including 5.7 million capitalized waste tonnes) were mined from the open pit at an average strip ratio of 4.93:1. During the second half of the year, the strip ratio is expected to decrease as the mine is prioritizing capitalized waste during the colder weather months.
- Tonnes milled per calendar day decreased over the prior-year period due to mechanical maintenance on both the SAG mill and crusher, and cold weather conditions impacting stockpile movement.
- Gold eq.1 production was 59,895 ounces (58,834 ounces of gold and 79,621 ounces of silver), an increase over the prior-year period due to higher gold grade and gold recovery, partially offset by lower tonnes processed. Production is expected to strengthen in the second half of the year and represent approximately 55% of the annual production.
- Operating expense per gold eq. ounce decreased over the prior-year period primarily due to higher sales volume.
- All-in sustaining costs2 per gold eq. ounce slightly increased over the prior-year period due to higher sustaining capital spend, partially offset by higher sales volume.
- Total capital and leases increased over the prior-year period due to higher sustaining and growth capital. Sustaining capital primarily related to $20 million of capitalized waste, as well as capital maintenance, and the advancement of the annual tailings dam raise. Growth capital2 primarily related to the development of the Intrepid underground zone, which advanced 512 metres.
- Free cash flow2 for the quarter was $15 million, an increase over the prior-year period due to an increase in cash generated from operations, partially offset by higher capital spend.
New Afton Mine
Operational Highlights
Operating Key Performance Indicators
- Underground tonnes mined per day decreased over the prior-year period due to the planned completion of Lift 1 mining activities, with the exception of the recovery level, and the continued ramp-up of the B3 zone.
- Tonnes milled per calendar day decreased over the prior-year period and is currently incorporating lower grade surface stockpiles to supplement the overall lower tonnes mined.
- Gold eq.1 production was 27,800 ounces (9,267 ounces of gold and 8.2 million pounds of copper), a decrease over the prior-year period due to lower tonnes processed and lower copper grade.
- Operating expense per gold eq. ounce increased over the prior-year period, primarily due to lower sales volume.
- All-in sustaining costs2 per gold eq. ounce increased over the prior-year period due to higher sustaining capital spend and lower sales volume.
- Total capital and leases increased over the prior-year period, primarily due to higher sustaining capital spend. Sustaining capital primarily related to B3 mine development and tailings management and stabilization activities. Growth capital2 primarily related to C-Zone development, which advanced 931 metres in the quarter.
- Free cash flow2 for the quarter was a net outflow of $33 million, a decrease over the prior-year period due to lower revenue, planned higher capital spend, and an increase in the free cash flow interest payment.
First Quarter 2022 Conference Call and Webcast
The Company will host a webcast and conference call today at 8:30 am Eastern Time to discuss the Company's first quarter consolidated results.
- Participants may listen to the webcast by registering on our website at www.newgold.com or via the following link https://produceredition.webcasts.com/starthere.jsp?ei=1536194&tp_key=0e2e702de9
- Participants may also listen to the conference call by calling North American toll free 1-888-664-6383, or 1-416-764-8650 outside of the U.S. and Canada, passcode 93425158
- A recorded playback of the conference call will be available until June 2, 2022 by calling North American toll free 1-888-390-0541, or 1-416-764-8677 outside of the U.S. and Canada, passcode 425158. An archived webcast will also be available at www.newgold.com.
About New Gold
New Gold is a Canadian-focused intermediate mining company with a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds a 5% equity stake in Artemis Gold Inc., and other Canadian-focused investments. New Gold's vision is to build a leading diversified intermediate gold company based in Canada that is committed to the environment and social responsibility. For further information on the Company, visit www.newgold.com.
Total Cash Costs per Gold eq. Ounce
"Total cash costs per gold equivalent ounce" is a non-GAAP financial performance measure that is a common financial performance measure in the gold mining industry but does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. New Gold reports total cash costs on a sales basis and not on a production basis. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, this measure, along with sales, is a key indicator of the Company's ability to generate operating earnings and cash flow from its mining operations. This measure allows investors to better evaluate corporate performance and the Company's ability to generate liquidity through operating cash flow to fund future capital exploration and working capital needs.
This measure is intended to provide additional information only and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. This measure is not necessarily indicative of cash generated from operations under IFRS or operating costs presented under IFRS.
Total cash cost figures are calculated in accordance with a standard developed by The Gold Institute, a worldwide association of suppliers of gold and gold products that ceased operations in 2002. Adoption of the standard is voluntary and the cost measures presented may not be comparable to other similarly titled measures of other companies. Total cash costs include mine site operating costs such as mining, processing and administration costs, royalties, and production taxes, but are exclusive of amortization, reclamation, capital and exploration costs. Total cash costs are then divided by gold equivalent ounces sold to arrive at the total cash costs per equivalent ounce sold.
In addition to gold, the Company produces copper and silver. Gold equivalent ounces of copper and silver produced or sold in a quarter are computed using a consistent ratio of copper and silver prices to the gold price and multiplying this ratio by the pounds of copper and silver ounces produced or sold during that quarter.
Notwithstanding the impact of copper and silver sales, as the Company is focused on gold production, New Gold aims to assess the economic results of its operations in relation to gold, which is the primary driver of New Gold's business. New Gold believes this metric is of interest to its investors, who invest in the Company primarily as a gold mining business. To determine the relevant costs associated with gold equivalent ounces, New Gold believes it is appropriate to reflect all operating costs incurred in its operations.
All-In Sustaining Costs per Gold eq. Ounce
"All-in sustaining costs per gold equivalent ounce" is a non-GAAP financial performance measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. New Gold calculates "all-in sustaining costs per gold equivalent ounce" based on guidance announced by the World Gold Council ("WGC") in September 2013. The WGC is a non-profit association of the world's leading gold mining companies established in 1987 to promote the use of gold to industry, consumers and investors. The WGC is not a regulatory body and does not have the authority to develop accounting standards or disclosure requirements. The WGC has worked with its member companies to develop a measure that expands on IFRS measures to provide visibility into the economics of a gold mining company. Current IFRS measures used in the gold industry, such as operating expenses, do not capture all of the expenditures incurred to discover, develop and sustain gold production. New Gold believes that "all-in sustaining costs per gold equivalent ounce" provides further transparency into costs associated with producing gold and will assist analysts, investors, and other stakeholders of the Company in assessing its operating performance, its ability to generate free cash flow from current operations and its overall value. In addition, the Human Resources and Compensation Committee of the Board of Directors uses "all-in sustaining costs", together with other measures, in its Company scorecard to set incentive compensation goals and assess performance.
"All-in sustaining costs per gold equivalent ounce" is intended to provide additional information only and does not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other mining companies. It should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The measure is not necessarily indicative of cash flow from operations under IFRS or operating costs presented under IFRS.
New Gold defines "all-in sustaining costs per gold equivalent ounce" as the sum of total cash costs, net of capital expenditures that are sustaining in nature, corporate general and administrative costs, capitalized and expensed exploration that is sustaining in nature, lease payments that are sustaining in nature, and environmental reclamation costs, all divided by the total gold equivalent ounces sold to arrive at a per ounce figure. The "Sustaining Capital Expenditure Reconciliation" table below reconciles New Gold's sustaining capital to its cash flow statement. The definition of sustaining versus non-sustaining is similarly applied to capitalized and expensed exploration costs and lease payments. Exploration costs and lease payments to develop new operations or that relate to major projects at existing operations where these projects are expected to materially increase production are classified as non-sustaining and are excluded. Gold equivalent ounces of copper and silver produced or sold in a quarter are computed using a consistent ratio of copper and silver prices to the gold price and multiplying this ratio by the pounds of copper and silver ounces produced or sold during that quarter.
Costs excluded from all-in sustaining costs are non-sustaining capital expenditures, non-sustaining lease payments and exploration costs, financing costs, tax expense, and transaction costs associated with mergers, acquisitions and divestitures, and any items that are deducted for the purposes of adjusted earnings.
Sustaining Capital and Sustaining Leases
"Sustaining capital" and "sustaining lease" are non-GAAP financial performance measures that do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. New Gold defines "sustaining capital" as net capital expenditures that are intended to maintain operation of its gold producing assets. Similarly, a "sustaining lease" is a lease payment that is sustaining in nature. To determine "sustaining capital" expenditures, New Gold uses cash flow related to mining interests from its consolidated statement of cash flows and deducts any expenditures that are capital expenditures to develop new operations or capital expenditures related to major projects at existing operations where these projects will materially increase production. Management uses "sustaining capital" and "sustaining lease", to understand the aggregate net result of the drivers of all-in sustaining costs other than total cash costs. These measures are intended to provide additional information only and should not be considered in isolation or as substitutes for measures of performance prepared in accordance with IFRS.
Growth Capital
"Growth capital" is a non-GAAP financial performance measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. New Gold considers non-sustaining capital costs to be "growth capital", which are capital expenditures to develop new operations or capital expenditures related to major projects at existing operations where these projects will materially increase production. To determine "growth capital" expenditures, New Gold uses cash flow related to mining interests from its consolidated statement of cash flows and deducts any expenditures that are capital expenditures that are intended to maintain operation of its gold producing assets. Management uses "growth capital" to understand the cost to develop new operations or related to major projects at existing operations where these projects will materially increase production. This measure is intended to provide additional information only and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
The following tables reconcile the above non-GAAP measures to the most directly comparable IFRS measure on an aggregate basis.
Consolidated OPEX, Cash Cost and All-in Sustaining Costs Reconciliation
Sustaining Capital Expenditures Reconciliation Table
Adjusted Net Earnings/(Loss) and Adjusted Net Earnings per Share
"Adjusted net earnings" and "adjusted net earnings per share" are non-GAAP financial performance measures that do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. "Adjusted net earnings" and "adjusted net earnings per share" exclude "other gains and losses" as per Note 3 of the Company's consolidated financial statements; and loss on redemption of long-term debt. Net earnings have been adjusted, including the associated tax impact, for the group of costs in "Other gains and losses" on the condensed consolidated income statements. Key entries in this grouping are: the fair value changes for the gold stream obligation, fair value changes for the free cash flow interest obligation, fair value changes for copper price option contracts, foreign exchange gains/loss and fair value changes in investments. The income tax adjustments reflect the tax impact of the above adjustments and is referred to as "adjusted tax expense".
The Company uses "adjusted net earnings" for its own internal purposes. Management's internal budgets and forecasts and public guidance do not reflect the items which have been excluded from the determination of "adjusted net earnings". Consequently, the presentation of "adjusted net earnings" enables investors to better understand the underlying operating performance of the Company's core mining business through the eyes of management. Management periodically evaluates the components of "adjusted net earnings" based on an internal assessment of performance measures that are useful for evaluating the operating performance of New Gold's business and a review of the non-GAAP financial performance measures used by mining industry analysts and other mining companies. "Adjusted net earnings" and "adjusted net earnings per share" are intended to provide additional information only and should not be considered in isolation or as substitutes for measures of performance prepared in accordance with IFRS. These measures are not necessarily indicative of operating profit or cash flows from operations as determined under IFRS. The following table reconciles these non-GAAP financial performance measures to the most directly comparable IFRS measure.
Cash Generated from Operations, before Changes in Non-Cash Operating Working Capital
"Cash generated from operations, before changes in non-cash operating working capital" is a non-GAAP financial performance measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. Other companies may calculate this measure differently and this measure is unlikely to be comparable to similar measures presented by other companies. "Cash generated from operations, before changes in non-cash operating working capital" excludes changes in non-cash operating working capital. New Gold believes this non-GAAP financial measure provides further transparency and assists analysts, investors and other stakeholders of the Company in assessing the Company's ability to generate cash from its operations before temporary working capital changes.
Cash generated from operations, before non-cash changes in working capital is intended to provide additional information only and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. This measure is not necessarily indicative of operating profit or cash flows from operations as determined under IFRS. The following table reconciles this non-GAAP financial performance measure to the most directly comparable IFRS measure.
Free Cash Flow
"Free cash flow" is a non-GAAP financial performance measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. New Gold defines "free cash flow" as cash generated from operations and proceeds of sale of other assets less capital expenditures on mining interests, lease payments, settlement of non-current derivative financial liabilities which include the gold stream obligation and the Ontario Teachers' Pension Plan free cash flow interest. New Gold believes this non-GAAP financial performance measure provides further transparency and assists analysts, investors and other stakeholders of the Company in assessing the Company's ability to generate cash flow from current operations. "Free cash flow" is intended to provide additional information only and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. This measure is not necessarily indicative of operating profit or cash flows from operations as determined under IFRS. The following tables reconcile this non-GAAP financial performance measure to the most directly comparable IFRS measure on an aggregate and mine-by-mine basis.
Average Realized Price
"Average realized price per ounce of gold sold" is a non-GAAP financial performance measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. Other companies may calculate this measure differently and this measure is unlikely to be comparable to similar measures presented by other companies. Management uses this measure to better understand the price realized in each reporting period for gold sales. "Average realized price per ounce of gold sold" is intended to provide additional information only and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The following tables reconcile this non-GAAP financial performance measure to the most directly comparable IFRS measure on an aggregate and mine-by-mine basis.
For additional information with respect to the non-GAAP measures used by the Company, refer to the detailed "Non-GAAP Financial Performance Measure" section disclosure starting on page 33 in the MD&A for the three months and year ended December 31, 2021 filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
Certain information contained in this news release, including any information relating to New Gold's future financial or operating performance are "forward-looking". All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that New Gold expects to occur are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "targeted", "estimates", "forecasts", "intends", "anticipates", "projects", "potential", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved" or the negative connotation of such terms. Forward-looking statements in this news release include, among others, statements with respect to: expectations regarding the Company's 2022 guidance; the Company's strategic plans and outlook both operationally and financially for the future; the continued ramp-up of the B3 zone at New Afton; production expectations for the second half of the year; and the anticipated decrease in the strip ratio during the second half of the year.
All forward-looking statements in this news release are based on the opinions and estimates of management that, while considered reasonable as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to important risk factors and uncertainties, many of which are beyond New Gold's ability to control or predict. Certain material assumptions regarding such forward-looking statements are discussed in this news release, New Gold's latest annual MD&A, its most recent annual information form and technical reports on the Rainy River Mine and New Afton Mine filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. In addition to, and subject to, such assumptions discussed in more detail elsewhere, the forward-looking statements in this news release are also subject to the following assumptions: (1) there being no significant disruptions affecting New Gold's operations other than as set out herein; (2) political and legal developments in jurisdictions where New Gold operates, or may in the future operate, being consistent with New Gold's current expectations; (3) the accuracy of New Gold's current mineral reserve and mineral resource estimates and the grade of gold, silver and copper expected to be mined and the grade of gold, copper and silver expected to be mined; (4) the exchange rate between the Canadian dollar and U.S. dollar, and to a lesser extent, the Mexican Peso, and commodity prices being approximately consistent with current levels and expectations for the purposes of 2022 guidance and otherwise; (5) prices for diesel, natural gas, fuel oil, electricity and other key supplies being approximately consistent with current levels; (6) equipment, labour and materials costs increasing on a basis consistent with New Gold's current expectations; (7) arrangements with First Nations and other Aboriginal groups in respect of the New Afton Mine and Rainy River Mine being consistent with New Gold's current expectations; (8) all required permits, licenses and authorizations being obtained from the relevant governments and other relevant stakeholders within the expected timelines and the absence of material negative comments or obstacles during any applicable regulatory processes; (9) there being no significant disruptions to the Company's workforce at either the Rainy River Mine or New Afton Mine due to cases of COVID-19 (including any required self-isolation requirements due to cross-border travel to the United States or any other country or any other reason) or otherwise; (10) the responses of the relevant governments to the COVID-19 outbreak being sufficient to contain the impact of the COVID-19 outbreak; (11) there being no material disruption to the Company's supply chains and workforce that would interfere with the Company's anticipated course of action at the Rainy River Mine and the New Afton Mine; and (12) the long-term economic effects of the COVID-19 outbreak not having a material adverse impact on the Company's operations or liquidity position.
Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, without limitation: price volatility in the spot and forward markets for metals and other commodities; discrepancies between actual and estimated production, between actual and estimated costs, between actual and estimated Mineral Reserves and Mineral Resources and between actual and estimated metallurgical recoveries; equipment malfunction, failure or unavailability; accidents; risks related to early production at the Rainy River Mine, including failure of equipment, machinery, the process circuit or other processes to perform as designed or intended; the speculative nature of mineral exploration and development, including the risks of obtaining and maintaining the validity and enforceability of the necessary licenses and permits and complying with the permitting requirements of each jurisdiction in which New Gold operates, including, but not limited to: obtaining the necessary permits for the New Afton C-Zone; uncertainties and unanticipated delays associated with obtaining and maintaining necessary licenses, permits and authorizations and complying with permitting requirements, including those associated with the C-Zone permitting process; changes in project parameters as plans continue to be refined; changing costs, timelines and development schedules as it relates to construction; the Company not being able to complete its construction projects at the Rainy River Mine or the New Afton Mine on the anticipated timeline or at all; volatility in the market price of the Company's securities; changes in national and local government legislation in the countries in which New Gold does or may in the future carry on business; controls, regulations and political or economic developments in the countries in which New Gold does or may in the future carry on business; the Company's dependence on the Rainy River Mine and New Afton Mine; the Company not being able to complete its exploration drilling programs on the anticipated timeline or at all; disruptions to the Company's workforce at either the Rainy River Mine or the New Afton Mine, or both, due to cases of COVID-19 or any required self-isolation (due to cross-border travel, exposure to a case of COVID-19 or otherwise); the responses of the relevant governments to the COVID-19 outbreak not being sufficient to contain the impact of the COVID-19 outbreak; disruptions to the Company's supply chain and workforce due to the COVID-19 outbreak; an economic recession or downturn as a result of the COVID-19 outbreak that materially adversely affects the Company's operations or liquidity position; there being further shutdowns at the Rainy River Mine or New Afton Mine; significant capital requirements and the availability and management of capital resources; additional funding requirements; diminishing quantities or grades of Mineral Reserves and Mineral Resources; actual results of current exploration or reclamation activities; uncertainties inherent to mining economic studies including the Technical Reports for the Rainy River Mine and New Afton Mine; impairment; unexpected delays and costs inherent to consulting and accommodating rights of First Nations and other indigenous groups; climate change, environmental risks and hazards and the Company's response thereto; tailings dam and structure failures; actual results of current exploration or reclamation activities; fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the United States and, to a lesser extent, Mexico; global economic and financial conditions and any global or local natural events that may impede the economy or New Gold's ability to carry on business in the normal course; compliance with debt obligations and maintaining sufficient liquidity; taxation; fluctuation in treatment and refining charges; transportation and processing of unrefined products; rising costs or availability of labour, supplies, fuel and equipment; adequate infrastructure; relationships with communities, governments and other stakeholders; geotechnical instability and conditions; labour disputes; the uncertainties inherent in current and future legal challenges to which New Gold is or may become a party; defective title to mineral claims or property or contests over claims to mineral properties; competition; loss of, or inability to attract, key employees; use of derivative products and hedging transactions; counterparty risk and the performance of third party service providers; investment risks and uncertainty relating to the value of equity investments in public companies held by the Company from time to time; the adequacy of internal and disclosure controls; conflicts of interest; the lack of certainty with respect to foreign operations and legal systems, which may not be immune from the influence of political pressure, corruption or other factors that are inconsistent with the rule of law; the successful acquisitions and integration of business arrangements and realizing the intended benefits therefrom; and information systems security threats. In addition, there are risks and hazards associated with the business of mineral exploration, development, construction, operation and mining, including environmental events and hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance to cover these risks) as well as "Risk Factors" included in New Gold's most recent annual information form, MD&A and other disclosure documents filed on and available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Forward looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. All forward-looking statements contained in this news release are qualified by these cautionary statements. New Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
The scientific and technical information contained in this news release has been reviewed and approved by Eric Vinet, Senior Vice President, Operations of New Gold. Mr. Vinet is a Professional Engineer and member of the Ordre des ingénieurs du Québec. He is a "Qualified Person" for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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SOURCE New Gold Inc. | https://www.whsv.com/prnewswire/2022/05/02/new-gold-reports-2022-first-quarter-results/ | 2022-05-02T11:51:18Z |
Secure Token Exchange for deposit (or checking) accounts better protects customers and financial institutions on the RTP® network and EPN from The Clearing House.
NASHVILLE, Tenn., May 2, 2022 /PRNewswire/ -- Tokenization for deposit and checking account information, which ensures a customer's banking account and routing numbers are never transmitted along with a payment, will soon be available for financial institutions that utilize the RTP® and EPN networks, the real-time payments and Automated Clearing House (ACH) networks operated by The Clearing House.
Secure Token Exchange (STE) for customer deposit and checking accounts is a new, optional capability currently available for the RTP network that issues tokens for a customer's bank account and routing numbers. These tokens can be used like real account numbers for transactions over the RTP network. This helps to reduce the instances of a customer's bank account numbers being stored outside of their bank, such as with a fintech app, a biller, retailer, or other third parties. Customer deposit and checking account tokenization for EPN is targeting availability later this quarter.
Tokens for customer deposit and checking accounts use random digits to substitute a customer's actual account numbers when making a payment. Even if compromised, the token can be deactivated, rendering it useless to cybercriminals.
PNC Bank is one of the first financial institutions to utilize STE for customer deposit and checking accounts. More than nine million PNC customers will be able to have their account numbers tokenized when making payments over the RTP network or EPN.
"Enabling tokenization of our customer account numbers represents a further step in our journey to helping customers more securely transact with the third parties of their choice," said Bill Demchak, PNC Chairman, President and Chief Executive Officer. "This capability is in lock step with our commitment to safeguarding our customers' accounts by providing avenues for them to grant secure access to the financial information that they entrust to us."
Akoya LLC is the first third-party service provider to utilize STE for tokenizing account numbers on behalf of financial institutions connected as data providers to its Akoya Data Access Network. Fintechs and other data recipients will be able to retrieve tokenized account numbers directly through Akoya.
"Akoya can automatically swap real account and routing numbers for tokens and pass them to fintechs and data aggregators for financial institutions," said Stuart Rubinstein, CEO of Akoya. "This mitigates considerable security and risk concerns for payment enablement and works seamlessly with existing payment rails."
"In today's connected and digital economy, customers increasingly use electronic payments to make purchases, send money to friends and family, and to pay bills," said Jim Aramanda, President and CEO, The Clearing House. "Tokenization for customer account numbers, which replaces the actual account numbers with a token, is another step financial institutions can take to make their customers' accounts even more secure when making payments."
The RTP network gives the banking industry a modern platform for domestic payments, complete with rich data capabilities and immediate payment confirmation. The system enables instantaneous settlement and availability to payment recipients, so those funds can be used or withdrawn as cash within seconds. The RTP network currently reaches 61% of U.S. demand deposit accounts and all federally insured depository institutions, regardless of size, can join the network. More than 240 financial institutions use the RTP network, with more joining each week. Since 2017, the RTP network has offered a flat pricing structure for all depository institutions that does not have monthly fees, volume discounts, or minimum volume requirements.
EPN is the industry's private sector ACH service, helping financial institutions process and settle ACH transactions and providing related services. Year over year, EPN continues to grow and reliably processes approximately 70 million transactions each day, with over 121 million transactions during the most recent daily peak.
About PNC
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.
About Akoya
Akoya is transforming the way consumer financial data is accessed and shared. Through a single integration to the Akoya Data Access Network, data aggregators and fintechs can directly connect with financial institutions to securely obtain consumer-permissioned financial data through APIs. Akoya manages these relationships and serves as an interoperable solution available to the entire financial services industry. Please visit www.akoya.com or follow Akoya on LinkedIn and Twitter to learn more.
About The Clearing House
The Clearing House operates U.S.-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and real-time payments. It is the nation's most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to financial institutions. Most recently, The Clearing House has revolutionized U.S. payments infrastructure with the RTP® network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel. These RTP capabilities enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers. Learn more at www.theclearinghouse.org.
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SOURCE The Clearing House | https://www.whsv.com/prnewswire/2022/05/02/new-tokenization-capability-helps-increase-security-bank-account-information-customers/ | 2022-05-02T11:51:25Z |
-Company to Award 100 Teachers with a Cruise Aboard Its Newest Groundbreaking Ship Norwegian Prima and Three Grand Prize Winners with $25,000, $15,000 and $10,000 for Their School-
-Norwegian's Giving Joy™ Contest is Now Open and Accepting Nominations at nclgivingjoy.com from May 2 to June 3, 2022-
MIAMI, May 2, 2022 /PRNewswire/ -- In honor of Teacher Appreciation Week (May 2 – 6, 2022) and the countless devoted educators across North America, Norwegian Cruise Line (NCL), the innovator in global cruise travel, today announced the relaunch of its award-winning Norwegian's Giving Joy™ recognition program, which provides educators with free cruises and a chance to win up to $25,000 for their schools.
Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8998054-norwegian-cruise-line-teacher-appreciation-week-2022/
The annual program designed to highlight the connection between travel and education and to recognize teachers for their unwavering dedication to inspiring students every day, has awarded 130 teachers across the U.S. and Canada with free cruises and over $185,000 to schools since 2019. This year, 100 teachers will win an exclusive sailing aboard the Cruise Line's newest groundbreaking ship, Norwegian Prima, during the inaugural five-day sailing from Galveston, Texas from October 27 – 31, 2022.
"We're so proud to celebrate educators, the unsung heroes of our communities, with our Norwegian's Giving Joy program," said Harry Sommer, president and CEO of Norwegian Cruise Line. "After receiving more than 46,000 nominations and over one million votes within the first year of this contest, we knew this was a worthy cause that is near and dear to people's hearts. Teachers are tenacious, they are inspiring, and more than anything, they are dream makers."
The month-long campaign runs from May 2 through June 3, 2022. Norwegian Cruise Line is encouraging nominations of certified or accredited teachers in the U.S. and Canada who strive to bring joy into their classrooms and inspire their students day-in and day-out. The top 100 educators with the most votes will be one of the first to sail aboard Norwegian Prima from Texas in October. In addition, the top three grand prize winners will receive an additional seven-day voyage for two from the U.S. or Canada, as well as a $25,000, $15,000 and $10,000 donation respectively for their school.
Ashley Steadman, educator at Maynard Evans High School in Orlando, Fla. and second place winner of the 2021 Norwegian's Giving Joy campaign said, "Norwegian Cruise Line made me feel appreciated throughout the entire Giving Joy experience. With the prize money, our Student Government Association has been able to organize student engagements throughout the year, creating a stronger sense of community and pride for our students and staff."
Sommer continued, "Educators, like travel, leave a lasting impression on us. They help shape who we are and expand our horizons. Norwegian's Giving Joy campaign brings to light the importance of travel as a powerful means of education. Travel broadens our perspective and encourages us to discover, adapt and accept new cultures and experiences. We cannot wait to celebrate the next class of deserving Giving Joy winners aboard the highly anticipated Norwegian Prima this fall."
To nominate a beloved teacher, to vote and for the contest terms and conditions, please visit www.nclgivingjoy.com.
Click here for a downloadable social media asset to help spread the word and identify admirable educators deserving of a dream cruise vacation!
For more information about the Norwegian Cruise Line or to book a cruise, please visit www.ncl.com or call 888-NCL-CRUISE (625-2784) or contact a travel professional. For Norwegian Prima's press kit and assets, click here.
About Norwegian Cruise Line
As the innovator in global cruise travel, Norwegian Cruise Line has been breaking the boundaries of traditional cruising for 55 years. Most notably, the cruise line revolutionized the industry by offering guests the freedom and flexibility to design their ideal vacation on their preferred schedule with no assigned dining and entertainment times and no formal dress codes. Today, its fleet of 17 contemporary ships sail to over 300 of the world's most desirable destinations, including Great Stirrup Cay, the company's private island in the Bahamas and its resort destination Harvest Caye in Belize. Norwegian Cruise Line not only provides superior guest service from land to sea, but also offers a wide variety of award-winning entertainment and dining options as well as a range of accommodations across the fleet, including solo traveler staterooms, club balcony suites, spa-suites and The Haven by Norwegian®, the company's ship-within-a-ship concept. For additional information or to book a cruise, contact a travel professional, call 888-NCL-CRUISE (625-2784) or visit www.ncl.com. For the latest news and exclusive content, visit the NCL Newsroom and follow Norwegian Cruise Line on Facebook, Instagram, Tik Tok and YouTube @NorwegianCruiseLine; and Twitter @CruiseNorwegian.
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SOURCE Norwegian Cruise Line | https://www.whsv.com/prnewswire/2022/05/02/norwegian-cruise-line-celebrates-teacher-appreciation-week-by-giving-joy-educators-across-us-canada-through-its-annual-recognition-program/ | 2022-05-02T11:51:31Z |
SAN DIEGO, Calif. and CALGARY, AB, May 2, 2022 /PRNewswire/ -- Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC) and SOLTI-Innovative Cancer Research today announced the acceptance of an abstract for a poster presentation at the upcoming European Society for Medical Oncology Breast Cancer Meeting, which is taking place both online and in-person at hub27 – Messe Berlin in Berlin, Germany from May 3-5, 2022.
The accepted abstract (#364) is available on the ESMO Breast Cancer Meeting website. Included in the abstract are new results from cohort 1 and cohort 2 of the AWARE-1 study, a collaboration between Oncolytics Biotech and SOLTI, each of which enrolled ten HR+/HER2- early-stage breast cancer patients. These patients were treated with pelareorep and the aromatase inhibitor letrozole without (cohort 1) or with (cohort 2) the PD-L1 checkpoint inhibitor atezolizumab. Evaluation of these cohorts was the primary focus of AWARE-1 as HR+/HER2- is the breast cancer subtype Oncolytics intends to investigate in a future registrational study.
Results of this exploratory study described in the abstract show pelareorep's potential to induce an inflamed tumor phenotype and its synergy with atezolizumab. They also support pelareorep's immune-based mechanism of action and suggest that the combination of pelareorep and atezolizumab may improve outcomes in breast cancer. Additional details on analyses and results described in the abstract will be provided following the publication of its corresponding poster, in accordance with the ESMO Breast Cancer Meeting's embargo policies.
Details on the abstract and upcoming poster presentation are shown below.
Title: The oncolytic virus pelareorep primes the tumor microenvironment for checkpoint blockade therapy in early breast cancer patients - results from AWARE-1 study
Category: Biomarkers and translational research and precision medicine
Abstract Number: 364
Presentation Date: May 4, 2022
Presentation Time: 12:15 p.m. CET
About AWARE-1
AWARE-1 was an open-label window-of-opportunity study in early-stage breast cancer. The study combined pelareorep, without or with atezolizumab, and the standard of care therapy according to breast cancer subtype. Tumor tissue was collected from patients as part of their initial breast cancer diagnosis, again on day three following initial treatment, and finally at three weeks following treatment, on the day their tumor is surgically resected. Key objectives of the study were to confirm that pelareorep is acting as a novel immunotherapy, to evaluate potential synergy between pelareorep and checkpoint blockade, and to collect biomarker data. The primary endpoint of the translational study was overall CelTIL score (a measurement of cellularity and tumor-infiltrating lymphocytes). Secondary endpoints for the study included safety and tumor and blood-based biomarkers.
About Oncolytics Biotech Inc.
Oncolytics is a biotechnology company developing pelareorep, an intravenously delivered immunotherapeutic agent. This compound induces anti-cancer immune responses and promotes an inflamed tumor phenotype -- turning "cold" tumors "hot" -- through innate and adaptive immune responses to treat a variety of cancers.
Pelareorep has demonstrated synergies with immune checkpoint inhibitors and may also be synergistic with other approved oncology treatments. Oncolytics is currently conducting and planning clinical trials evaluating pelareorep in combination with checkpoint inhibitors and targeted therapies in solid and hematological malignancies as it advances towards a registration study in metastatic breast cancer. For further information, please visit: www.oncolyticsbiotech.com.
This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and forward-looking information under applicable Canadian securities laws (such forward-looking statements and forward-looking information are collectively referred to herein as "forward-looking statements"). Forward-looking statements contained in this press release include statements regarding Oncolytics' belief as to the potential and benefits of pelareorep as a cancer therapeutic; the timing and anticipated content of poster presentation at the upcoming European Society for Medical Oncology Breast Cancer Meeting; our plans to advance towards a registration study in metastatic breast cancer; and other statements related to anticipated developments in Oncolytics' business and technologies. In any forward-looking statement in which Oncolytics expresses an expectation or belief as to future results, such expectations or beliefs are expressed in good faith and are believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will be achieved. Such forward-looking statements involve known and unknown risks and uncertainties, which could cause Oncolytics' actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the efficacy of pelareorep as a cancer treatment, the success and timely completion of clinical studies and trials, Oncolytics' ability to successfully commercialize pelareorep, uncertainties related to the research and development of pharmaceuticals, uncertainties related to the regulatory process and general changes to the economic environment. In particular, we may be impacted by business interruptions resulting from COVID-19 coronavirus, including operating, manufacturing supply chain, clinical trial and project development delays and disruptions, labour shortages, travel and shipping disruption, and shutdowns (including as a result of government regulation and prevention measures). It is unknown whether and how Oncolytics may be affected if the COVID-19 pandemic persists for an extended period of time. We may incur expenses or delays relating to such events outside of our control, which could have a material adverse impact on our business, operating results and financial condition. Investors should consult Oncolytics' quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements. The Company does not undertake any obligation to update these forward-looking statements, except as required by applicable laws.
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DUBLIN, May 2, 2022 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO), a leading provider of Consumer Self-Care Products, today announced that on April 29, 2022 it completed the previously announced acquisition of Héra SAS ("HRA") for €1.8 billion, or approximately $1.9 billion based on current exchange rates, in cash, accelerating its position as a leading global consumer self-care company.
Perrigo President and CEO, Murray S. Kessler commented, "We are excited to close this acquisition and welcome the talented HRA team to the Perrigo family. Completing this transaction marks the culmination of our three-year transformation plan that has returned Perrigo to its self-care roots. The addition of HRA advances Perrigo's vision of making lives better with quality affordable self-care products that consumers trust everywhere they are sold. It also accelerates our sales and earnings growth and is expected to enhance our margins. Our global businesses are now more intertwined and unified than ever before as we focus on expanding our geographic reach, driving category penetration and delivering new product innovation that leverages our consumer-centric mindset."
About Perrigo
Perrigo Company plc (NYSE: PRGO) is a leading provider of Consumer Self-Care Products and over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. Led by its consumer self-care strategy, Perrigo is the largest store brand OTC player in the U.S. in the categories in which it competes through more than 9,000 SKUs under customer 'own brand' labels. Additionally, Perrigo is a Top 10 OTC company by revenue in Europe, where it markets more than 200 branded OTC products throughout 28 countries. Visit Perrigo online at www.perrigo.com.
Forward-Looking Statements
Certain statements in this press release are "forward-looking statements." These statements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "forecast," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or the negative of those terms or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control, including: the effect of the coronavirus (COVID-19) pandemic and its variants and the associated supply chain impacts on the Company's business; general economic, credit, and market conditions; the impact of the war in Ukraine, including the effects of economic and political sanctions imposed by the United States, European Union, and other countries related thereto, and/or the outbreak or escalation of conflict in other regions where we do business; future impairment charges; customer acceptance of new products; competition from other industry participants, some of whom have greater marketing resources or larger market shares in certain product categories than the Company does; pricing pressures from customers and consumers; resolution of uncertain tax positions, including the Company's appeal of the draft and final Notices of Proposed Assessment ("NOPAs") issued by the U.S. Internal Revenue Service and the impact that an adverse result in any such proceedings would have on operating results, cash flows, and liquidity; pending and potential third-party claims and litigation, including litigation relating to the Company's restatement of previously-filed financial information and litigation relating to uncertain tax positions, including the NOPAs; potential impacts of ongoing or future government investigations and regulatory initiatives; potential costs and reputational impact of product recalls or sales halts; the impact of tax reform legislation and healthcare policy; the timing, amount and cost of any share repurchases; fluctuations in currency exchange rates and interest rates; the Company's ability to achieve the benefits expected from the sale of its Rx business and the risk that potential costs or liabilities incurred or retained in connection with that transaction may exceed the Company's estimates or adversely affect the Company's business or operations; the ability to achieve the benefits expected from the acquisition of HRA Pharma and the risks that the Company's synergy estimates are inaccurate or that the Company faces higher than anticipated integration or other costs in connection with the acquisition; the consummation and success of other announced and unannounced acquisitions or dispositions, and the Company's ability to realize the desired benefits thereof; and the Company's ability to execute and achieve the desired benefits of announced cost-reduction efforts and strategic and other initiatives. An adverse result with respect to the Company's appeal of any material outstanding tax assessments or pending litigation, including securities or drug pricing matters, could ultimately require the use of corporate assets to pay such assessments, damages from third-party claims, and related interest and/or penalties, and any such use of corporate assets would limit the assets available for other corporate purposes. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2021, as well as the Company's subsequent filings with the United States Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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MARLBOROUGH, Mass., May 2, 2022 /PRNewswire/ -- Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a clinical stage biotechnology company developing the next generation of therapeutics based on its proprietary self-delivering RNAi (INTASYL™) therapeutic platform, announced today that its Board of Directors has appointed Patricia A. Bradford as an independent director of the Company.
"We are delighted to welcome Patricia to the Phio Board. I am certain that her wealth of experience as an executive at rapidly growing international conglomerates and in HR management will bring tremendous value to the Board," said Robert Bitterman, Chairman of Phio Pharmaceuticals. "We believe that Patricia will be an effective steward of the Company and counselor to the management team."
Ms. Bradford stated, "I am excited to join the Phio Board at such an important period in the Company's history, when the first INTASYL therapeutic compounds are entering the clinic this year. I look forward to working with my fellow directors and the Phio management team as the Company's portfolio of immuno-oncology therapies advance through the clinic in order to treat cancer."
Ms. Bradford has more than four decades of executive HR experience, as well as a solid financial acumen having obtained CPA accreditation during her time at Deloitte. For more than 30 years of her career, Ms. Bradford held various roles of increasing responsibility at Unisys Corporation. During her last eight years at Unisys, she was the Senior Vice President, Human Resources Officer, reporting directly to the company's Chief Executive Officer. While in this role she oversaw the strategy and operation of all HR programs on a global basis linked to company goals, which included managing a global HR staff of 200+ employees. Earlier in her career she worked at Deloitte, with positions in the Audit and Tax departments. Currently, Ms. Bradford provides HR consulting services to a wide range of companies focusing on providing individual coaching for senior executives and high potential employees recommended by management.
About Phio Pharmaceuticals Corp.
Phio Pharmaceuticals Corp. (Nasdaq: PHIO) is a clinical stage biotechnology company developing the next generation of immuno-oncology therapeutics based on its self-delivering RNAi (INTASYL™) therapeutic platform. The Company's efforts are focused on silencing tumor-induced suppression of the immune system through its proprietary INTASYL platform with utility in immune cells and the tumor microenvironment. The Company's goal is to develop powerful INTASYL therapeutic compounds that can weaponize immune effector cells to overcome tumor immune escape, thereby providing patients a powerful new treatment option that goes beyond current treatment modalities. For additional information, visit the Company's website, www.phiopharma.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "intends," "believes," "anticipates," "indicates," "plans," "expects," "suggests," "may," "would," "should," "potential," "designed to," "will," "ongoing," "estimate," "forecast," "target," "predict," "could" and similar references, although not all forward-looking statements contain these words. Forward-looking statements are neither historical facts nor assurances of future performance. These statements are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements as a result of a number of important factors, including, but not limited to, the impact to our business and operations by the ongoing coronavirus pandemic, the ability to initiate, progress or complete clinical trials within currently anticipated timelines or at all, results from our preclinical and clinical activities, the development of our product candidates, our ability to develop our product candidates with collaboration partners, and the success of any such collaborations, the timeline and duration for advancing our product candidates into clinical development, the timing or likelihood of regulatory filings and approvals, the success of our efforts to commercialize our product candidates if approved, our ability to manufacture and supply our product candidates for clinical activities, and for commercial use if approved, our ability to execute on business strategies, the scope of protection we are able to establish and maintain for intellectual property rights covering our technology platform, our ability to obtain future financing, market and other conditions and those identified in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q under the caption "Risk Factors" and in other filings the Company periodically makes with the SEC. Readers are urged to review these risk factors and to not act in reliance on any forward-looking statements, as actual results may differ from those contemplated by our forward-looking statements. Phio does not undertake to update forward-looking statements to reflect a change in its views, events or circumstances that occur after the date of this release, except as required by law.
Contact Phio Pharmaceuticals Corp.
ir@phiopharma.com
Investor Contact
Ashley R. Robinson
LifeSci Advisors
arr@lifesciadvisors.com
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SOURCE Phio Pharmaceuticals Corp. | https://www.whsv.com/prnewswire/2022/05/02/phio-pharmaceuticals-announces-appointment-patricia-bradford-its-board-directors/ | 2022-05-02T11:51:53Z |
Blood Test for Early Detection of Alzheimer's Disease (AD) Risk Will Lead to Better Patient Care, Physicians Say; U.S. Adults Call for Earlier Evaluation and More Education
Quest Introduces Widely Available Blood Test to Aid Early Assessment of AD Risk; Physicians Believe AD Blood Tests will Become Standard of Care
SECAUCUS, N.J., May 2, 2022 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, today released a new research report, The Coming Alzheimer's Disease Healthcare Revolution: U.S. Physician and Adult Perspectives on the Future of Diagnostics and Treatment, that provides insights into the expectations and hopes of primary care physicians and American adults for the current and future landscape of dementia and AD testing, treatment and care. According to the report, a majority of physicians (66%) believe we are on the precipice of groundbreaking new treatment options for AD.
While 50% of physicians do not think there will ever be a cure for AD, the surveys indicate that physicians and American adults are optimistic that a new generation of therapies and diagnostics for the disease will improve patient care. In fact, more than 3 in 4 physicians (77%) believe new therapies will transform AD into a chronic, manageable disease–and 84% say testing for early risk of the disease will lead to earlier and improved disease management. Among U.S. adults, 9 in 10 (90%) say they are hopeful that new therapies will cure AD, and 86% believe blood tests for the early detection of AD risk will increasingly become a regular part of preventative care.
Based on insights from online surveys of 501 primary care providers (PCPs) and 2,052 Americans aged 18 years and older, the report also highlights the important role diagnostics may play in the next era of AD healthcare. Quest Diagnostics commissioned The Harris Poll to conduct the surveys in March 2022.
The report suggests cost concerns could impede the adoption of blood tests for AD: more than 8 in 10 physicians (85%) say the value of a blood test for the early detection of AD risk will depend on how widely it is reimbursed. However, 94% of physicians say blood tests would be more cost effective for the healthcare system compared to more invasive methods of detection (e.g., lumbar puncture, imaging studies).
"We are on the cusp of a new generation of therapies for Alzheimer's disease, but the important role of diagnostics has been missing from the conversation. Patients today are typically screened for Alzheimer's disease only after signs of cognitive impairment emerge and often by expensive methods, such as brain imaging and cerebrospinal fluid taps, which only specialists can perform. As new, efficacious therapies come to the forefront, the need for scalable, less invasive and more cost-effective diagnostics, including in primary care settings, will grow," said Michael K. Racke, M.D., Neurology Medical Director, Quest Diagnostics. "Our goal for this report is to help prepare the medical community and engaged patients and caregivers for the transformational healthcare shifts that must occur to unleash the full potential of future treatment and diagnostic innovations to improve outcomes for patients with Alzheimer's disease."
The new Quest report follows the Centers for Medicare and Medicaid Services' decision in April to limit coverage of the AD drug aducanumab to patients who receive it as participants in a clinical trial. The Food and Drug Administration's approval of the drug in June 2021 marked the first authorization of a treatment designed to target AD pathophysiology. In addition, the identification of biomarkers for AD has led to new avenues of pharmaceutical drug research and development. More than 100 disease-modifying therapies are now in clinical trials–nearly 20 in phase 3.i
To prepare for the treatments of the future, American adults call for earlier evaluation, want more education; physicians foresee surge in demand
U.S. adults want to be evaluated for dementia, including AD, earlier than current medical practice. While physicians say they begin evaluating patients for AD at about age 66 (mean), adults want to be evaluated for dementia, including AD, at about age 57 (mean)—a difference of nearly 10 years. And while 86% of adults have some fear about receiving an AD diagnosis, nearly the same proportion (83%) would agree to take a blood test for early detection of AD risk if their results might help researchers develop better treatments for the disease. More than 8 in 10 adults (83%) agree that they want more education about when they should be proactively evaluated for signs of AD and other forms of dementia.
The large majority of physicians (84%) say testing for early risk of AD will lead to earlier and improved disease management, yet an even greater number (92%) say that blood tests for AD will lead to a surge in diagnoses, with 60% saying the current healthcare system/workforce would not be able to handle a surge in diagnoses. The vast majority of physicians (95%) note that the value of a blood test depends on the quality of education around it.
Quest introduces QUEST AD-Detect™ Amyloid Beta 42/40 Ratio; physicians believe blood tests will become standard of care
Quest Diagnostics is introducing the QUEST AD-Detect™ Amyloid Beta 42/40 Ratio, a new analytically validated blood test that aids in assessing the risk of AD.ii iii The laboratory-developed test is designed to be used by a healthcare provider to help assess the risk of AD in a patient. It evaluates the ratio of two peptides of amyloid beta, Aβ42 and Aβ40, in plasma sourced from a single blood test and is designed to monitor Aβ42/40 changes over time to assess the risk potential of AD progression. QUEST AD-Detect™ is a high-precision assay of a type shown in a recently published study to be as effective as traditional methods.iv
With a physician's order, patients may supply a blood specimen at a Quest Diagnostics patient service center for testing with QUEST AD-Detect Quest Diagnostics operates a national network of more than 2,100 patient service centers, for convenient patient access. In addition to providing accessible insights into the risk of AD, QUEST AD-Detect™ blood-based biomarker testing may also help identify patients who are candidates for early antibody treatment.v
"As scientists work to develop treatments for Alzheimer's disease, Quest Diagnostics is also developing laboratory innovations, such as AD-Detect, that have the potential to help physicians more reliably identify patients at risk for the disease, even before symptoms manifest, as well as monitor progression," said Chris Scotto DiVetta, Vice President and General Manager of Neurology and Pharma Services, Quest Diagnostics. "AD-Detect may also help biopharmaceutical companies seeking better methods of screening patients for participation in trials for AD therapies."
According to the survey, nearly 9 in 10 (87%) physicians believe that blood tests for the early detection of AD risk will increasingly become the standard of care. Further, 96% of physicians say blood tests will help identify patients who may be appropriate for clinical trials for AD treatments, and 85% say blood tests will improve the quality and speed of clinical trials.
QUEST AD-Detect™ test is the latest example of how Quest Diagnostics is innovating within the AD landscape. Quest AD-Detect is based on a CSF test for aiding AD assessment developed by Quest Diagnostics in 2017. In addition, Quest has a long-standing history of advancing science in the field of dementia through academic research and other collaborations. More information is available at www.QuestForTheCure.com.
Study Methodology
On behalf of Quest Diagnostics, The Harris Poll conducted two online surveys in March 2022: one among 501 U.S. duly licensed primary care providers (PCPs) with a patient load of two or more, and another among 2,052 Americans aged 18 and older. Data for the PCP survey were weighted where necessary by age, gender and specialty to bring them in line with their actual proportions in the population. Data for the general population survey were weighted where necessary by age, gender, race/ethnicity, region, education, marital status, household size, household income and propensity to be online, to bring them in line with their actual proportions in the population. For more information, contact Kim Gorode, kimberly.b.gorode@questdiagnostics.com or Ellen Murphy, ellen.murphy@syneoshealth.com.
About Alzheimer's Disease
More than 6.5 million Americans are living with Alzheimer's disease, a number that is projected to more than double by 2050.vi As case numbers steadily rise, so is the disease's economic impact with related costs predicted to reach $1.1 trillion.vii But the greatest burden is experienced by the people living with Alzheimer's–both patients and their caregivers. Currently, more than 11 million Americans provide unpaid care for people with Alzheimer's or other dementias. With no available cure and limited treatment options, patients and their loved ones experience a devastating yet unstoppable disease progression.viii
About Quest Diagnostics
Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors, and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our nearly 50,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. Learn more at www.QuestDiagnostics.com.
i 2021 Alzheimer's Clinical Trials Report | https://www.alzdiscovery.org/uploads/media/ADDF-CTR-2021-06-singles.pdf. Accessed April 10, 2022.
ii Data on file. Quest Diagnostics; 2022.
iii Burnham SC, Fandos N, Fowler C, et al. Longitudinal evaluation of the natural history of amyloid-β in plasma and brain. Brain Commun. 2020;2(1)fcaa041. doi:10.1093/braincomms/fcaa041
iv Li Y, Schindler SE, Bollinger, J, et al. Validation of plasma amyloid-β 42/40 for detecting alzheimer disease amyloid plaques. Neurology. Online ahead of print, December 14, 2021.doi:10.1212/WNL.0000000000013211
v Cummings J, Lee G, Zhong K, et al. Alzheimer's disease drug development pipeline: 2021. Alzheimers Dement (N Y). 2021;7(1):e12179. doi:10.1002/trc2.12179
vi Alzheimer's Association. 2021 Alzheimer's disease facts and figures | https://www.alz.org/media/Documents/alzheimersfacts-and-figures.pdf. Accessed December 7, 2021.
vii Alzheimer's Disease Facts and Figures | https://www.alz.org/alzheimers-dementia/facts-figures#:~:text=years%20of%20diagnosis.-,Prevalence,living%20with%20Alzheimer's%20in%202022. Accessed April 11, 2022.
viii Special Report: More Than Normal Aging: Understanding Mild Cognitive Impairment | https://www.alz.org/media/Documents/alzheimers-facts-and-figures.pdf. Accessed April 11, 2022.
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TEL AVIV, Israel, May 2, 2022 /PRNewswire/ -- RADCOM (Nasdaq: RDCM) announced today that Eyal Harari, Chief Executive Officer, will present virtually at the 17th Annual Needham Technology & Media Conference on Wednesday, May 18, 2022, at 8:45 AM ET.
Eyal will be available for one-on-one meetings during the conference. To schedule a meeting, please contact your Needham salesperson or Miri Segal at msegal@ms-ir.com.
A live webcast of the presentation will be available to the public at: https://wsw.com/webcast/needham120/rdcm/2228638. The presentation slides will be available on the day of the presentation from RADCOM's website www.radcom.com/investor-relations.
The webcast will be archived for 90 days following the live presentation.
About RADCOM
RADCOM (Nasdaq: RDCM) is the leading expert in 5G ready cloud-native, network intelligence solutions for telecom operators transitioning to 5G. RADCOM Network Intelligence consists of RADCOM Network Visibility, RADCOM Service Assurance, and RADCOM Network Insights. The RADCOM Network Intelligence suite offers intelligent, container-based, on-demand solutions to deliver network analysis from the RAN to the core for 5G assurance. Utilizing automated and dynamic solutions with smart minimal data collection and on-demand troubleshooting and cutting edge techniques based on machine learning, these solutions work in harmony to provide operators an understanding of the entire customer experience and allow them to troubleshoot network performance from a high to granular level while reducing storage costs and cloud resource utilization. For more information on how to RADCOMize your network today, please visit www.radcom.com, the content of which does not form a part of this press release.
For all investor inquiries, please contact:
Investor Relations:
Miri Segal
MS-IR LLC
917-607-8654
msegal@ms-ir.com
Company Contact:
Hadar Rahav
CFO
+972-77-7745062
hadar.rahav@radcom.com
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SOURCE RADCOM Ltd. | https://www.whsv.com/prnewswire/2022/05/02/radcom-present-17th-annual-needham-technology-amp-media-conference/ | 2022-05-02T11:52:06Z |
BOSTON, May 2, 2022 /PRNewswire/ -- Rockpoint, a Boston-based real estate investment management firm, today announced it has formed a platform with a wholly owned subsidiary of the Abu Dhabi Investment Authority ("ADIA"). The platform will target industrial investment opportunities representing approximately $2 billion in gross asset value. The new investment vehicle will focus primarily on build-to-core industrial investments in high barrier-to-entry locations across infill, demand-driven, gateway and growth markets in the U.S.
This platform follows Rockpoint's announcement in February 2021 that the firm had formed a strategic partnership with leading industrial real estate investor and operator Ben Harris. This strategic partnership has generated and is expected to continue to generate significant industrial investment opportunities for Rockpoint's existing opportunistic and growth and income funds in addition to opportunities for the new platform. Mr. Harris is an industrial sector veteran with over 24 years of multi-cycle experience, and has acquired, developed and/or operated nearly 500 million square feet of industrial properties across 50 markets.
Concurrently, the platform announced the closing of its first investment, 865 Embedded Way, a 117,520 square foot, class A industrial development project on a 10.6-acre site, located in Silicon Valley's supply-constrained South San Jose submarket.
"We are excited to partner with ADIA in a lower-risk vehicle that complements our existing funds and allows us to continue expanding our capabilities and platform in the industrial sector," said Bill Walton, Co-Founder and Managing Member at Rockpoint.
Mohamed AlQubaisi, Executive Director of the Real Estate Department at ADIA, said, "We have built a sizeable portfolio of industrial real estate assets and continue to see attractive opportunities in the sector. This new platform with Rockpoint aligns with our approach of investing with proven partners to target specific areas of value."
About Rockpoint
Rockpoint Group, L.L.C. ("Rockpoint") is a real estate private equity firm headquartered in Boston with additional domestic offices in San Francisco and Dallas. Rockpoint employs a fundamental value approach to investing and targets select product types located in major markets in the United States. Rockpoint utilizes a consistent strategy across distinct return profiles through its opportunistic and growth and income investment programs. Rockpoint targets assets with intrinsic long-term value, at attractive prices relative to stabilized cash flows, and with particular emphasis on value creation opportunities and complex situations. Since 1994, Rockpoint's co-founders with others have sponsored 16 commingled funds and related co-investment vehicles through Rockpoint and a predecessor firm and have raised approximately $26 billion in capital commitments. As of September 30, 2021, Rockpoint's investment team with others has invested or committed to invest in 460 transactions with a total peak capitalization of approximately $70 billion (inclusive of fund equity, co-investor equity and debt). To learn more about Rockpoint, visit www.rockpoint.com.
About ADIA
Established in 1976, the Abu Dhabi Investment Authority is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. For more information: https://www.adia.ae.
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SOURCE Rockpoint Group, L.L.C. | https://www.whsv.com/prnewswire/2022/05/02/rockpoint-adia-form-platform-invest-2-billion-industrial-real-estate/ | 2022-05-02T11:52:12Z |
DESIGNATED NEWS RELEASE
VANCOUVER, BC, May 2, 2022 /PRNewswire/ - Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm" or the "Company") (NYSE: SAND, TSX: SSL) is pleased to announce the growth of its portfolio of assets through the following transactions:
- Nomad Royalty Company Acquisition: Sandstorm and Nomad Royalty Company Ltd. (NYSE: NSR, TSX: NSR) ("Nomad") have entered into a definitive agreement (the "Arrangement Agreement") whereby Sandstorm will acquire all of the issued and outstanding common shares of Nomad ("Nomad Shares") pursuant to a plan of arrangement under the Canada Business Corporations Act (the "Nomad Acquisition"). The implied equity value of the Nomad Acquisition is approximately $590 million (approximately C$755 million).
- BaseCore Metals Royalty Package: Sandstorm has agreed to acquire nine royalties and one stream (the "Royalty Package") from BaseCore Metals LP ("BaseCore") for total consideration of $525 million, payable as to $425 million in cash and $100 million in common shares of the Company (the "Sandstorm Shares") (the "BaseCore Transaction", and together with the Nomad Acquisition, the "Transactions"). Concurrent with the BaseCore Transaction, Sandstorm has partnered with Royalty North Partners Ltd. ("Horizon Copper", "Horizon" or "RNP") to sell a portion of a copper royalty acquired in the BaseCore Transaction and retain a silver stream on the asset.
All figures are in U.S. dollars unless otherwise noted.
- Considerable Upsize to Sandstorm's Scale: The Transactions are expected to substantially increase the Company's scale and size, cementing Sandstorm's status as the largest1, highest-growth, and most liquid mid-tier royalty and streaming company.
- Precious Metals Focused with Exceptional Assets: The addition of several high-quality and low-cost assets fortifies Sandstorm's focus on gold, silver, and copper exposure. By 2025, Sandstorm's revenue is expected to be nearly 90% precious metals2.
- Highest Growth Amongst Peers: Sandstorm expects its production to grow more than 85% between 2022 and 2025, positioning the Company with the highest growth amongst peers3. The Transactions add several development stage assets contributing to this growth including Greenstone, Platreef, and Cortez (Robertson deposit).
- Industry Leading Portfolio Diversification: On completion of the Transactions, Sandstorm's resulting portfolio will total 260 streams and royalties, of which 39 of the underlying assets will be cash-flowing with no asset contributing more than 15% to the Company's consensus net asset value.
- Increase to Long-term Guidance: The Transactions increase Sandstorm's 2022 production guidance by approximately 22% from 65,000–70,000 gold equivalent ounces ("GEO") to 80,000–85,000 GEO2 and increase long-term production guidance by 55% from 100,000 GEO to 155,000 GEO2 in 2025.
- Strengthening Sandstorm's Partnership with Horizon Copper: Furthering Sandstorm's strategy to acquire precious metal streams on high-quality copper assets, Sandstorm will sell a portion of a copper royalty to Horizon and retain a silver stream, adding diversification and size to Horizon's growing copper portfolio, while increasing Sandstorm's precious metal exposure.
"These Transactions mark the next step in the strategic growth plans for Sandstorm," commented Nolan Watson, President & CEO of the Company. "Today's announcement propels the Company forward in both size and scale while solidifying Sandstorm's position amongst its peers as the highest-growth streaming and royalty company. We believe that precious metals and copper are poised to materially outperform the market in the coming years, and we are excited to provide investors with exposure to long-life, high quality, and low-cost assets focused on gold, silver and copper."
Nomad is a high-growth precious metals-focused royalty company with a portfolio of 20 royalty and stream assets, of which seven are on currently producing mines (see Appendix for an overview of Nomad's assets). In 2021, the portfolio contributed $27 million in revenue and approximately 16,000 GEO. Nomad's 2021 production was derived from approximately 85% gold and silver assets, in line with Sandstorm's precious metals-focused acquisition strategy.
Sandstorm expects Nomad's production to grow to approximately 40,000 GEO by 2025, which is below current analyst expectations. Sandstorm has included assets that are currently in production, construction (Greenstone and Platreef) or at the advanced stage of development (Robertson) in the 2025 production figure. Based on the Company's review of current operating plans at Blyvoor, Sandstorm is budgeting for long-term production rates of 60,000–80,000 ounces of gold per annum, based on conventional mining methods.
Through the Nomad Acquisition, Sandstorm adds several high-quality and low-cost assets. Based on analyst consensus, Nomad's portfolio comprises 91% precious metals and nearly 50% producing assets, further diversifying Sandstorm's portfolio and increasing exposure to gold and silver. With several assets in active development, Nomad's portfolio adds meaningful increases to Sandstorm's production in both the near and long-term. Assets anticipated to commence production between 2024 and 2025 include the Platreef and Greenstone projects as well as the Robertson deposit at the Cortez Mine Complex. More details on specific assets are below.
The Nomad Acquisition will be completed by way of a court approved plan of arrangement under the Canada Business Corporations Act. Pursuant to the terms of the Nomad Acquisition, Nomad shareholders will receive upfront consideration of 1.21 Sandstorm Shares for each Nomad Share held, which implies consideration of C$11.57 per Nomad Share based on the closing price of Sandstorm Shares on the Toronto Stock Exchange (the "TSX") on April 29, 2022.
The Nomad Acquisition is expected to close in the second half of 2022, subject to receipt of all applicable court, regulatory and securityholder approvals and satisfaction of other conditions precedent customary for transactions of this nature, as further described below.
BaseCore is an entity equally owned by affiliates of Glencore Plc ("Glencore") and Ontario Teachers' Pension Plan Board that holds a high quality, long-life portfolio that includes 10 royalty and stream assets, of which three are on currently producing assets. The Royalty Package includes a 1.66% net profits interest ("NPI") on the Antamina copper mine (the "Antamina NPI")4, a 1.0% stream on production from CEZinc, a 2.0% net smelter return ("NSR") royalty on the Horne 5 gold project, and a 0.5% NPI on the Highland Valley Copper mine. See Appendix for a complete list of BaseCore's portfolio of assets.
Sandstorm has agreed to acquire the Royalty Package for total consideration of $525 million, payable as to $425 million cash and $100 million in Sandstorm Shares, upon closing. In accordance with Canadian securities laws, the Sandstorm Shares will be subject to a four-month hold period. Royalty revenues from the Royalty Package accrue to Sandstorm as of April 1, 2022.
The BaseCore Transaction is expected to close in 4–6 weeks and is subject to regulatory approvals including the approval of the TSX for the listing of the Sandstorm Shares issuable thereunder, the Canadian Competition Bureau, waiver of rights of first offer or refusal on certain exploration stage royalties, and other customary conditions for a transaction of this nature.
Concurrent with the BaseCore Transaction, Sandstorm has signed an amended and restated letter of intent with Horizon Copper whereby Sandstorm will sell the acquired 1.66% Antamina NPI (the "Horizon Antamina Agreement") to Horizon and Sandstorm will retain a long-life silver stream on the Antamina mine.
Horizon Copper's business intent is to actively grow its existing portfolio of assets, with a focus on copper projects. The subsequent spin-out of the Antamina NPI will position Horizon Copper as a competitive copper company with a portfolio of high-quality cash-flowing and development stage copper assets. This transformative transaction provides Horizon Copper with the size and scale required to further grow and diversify the company, further strengthening the strategic partnership opportunities with Sandstorm.
The full consideration that Horizon will issue to Sandstorm under the Horizon Antamina Agreement includes:
- 1.66% Antamina Silver Stream: Sandstorm will receive 1.66% of silver based on production from the Antamina mine with ongoing payments equal to 2.5% of the silver spot price (the "Antamina Silver Stream").
- 0.55% Antamina Royalty: Sandstorm will receive approximately one-third of the Antamina NPI, paid net of the Antamina Silver Stream servicing commitments (the "Antamina Residual Royalty").
- $50 Million Cash Payment: Under the Horizon Antamina Agreement, Horizon will raise $50 million by way of equity financing, which will then be payable to Sandstorm on closing of the Horizon Antamina Agreement.
- $105 Million Debenture: Sandstorm will be issued a $105 million debenture (the "Debenture"). The Debenture is expected to bear an interest rate of 3% over a 10-year term. Principal repayments are subject to a 100% cash sweep of the excess cash flow Horizon receives from the 1.66% Antamina NPI after the Antamina Silver Stream and Antamina Residual Royalty obligations are paid. Prepayment of the Debenture can occur at any time prior to maturity without penalty.
- $26 Million Horizon Copper Shares: Horizon will issue Sandstorm approximately $26 million5 worth of Horizon Copper shares to maintain Sandstorm's 34% equity interest.
The Antamina Silver Stream and the Debenture will be senior obligations of Horizon, secured by the 1.66% Antamina NPI.
The full particulars of the Horizon Antamina Agreement will be described in a management information circular of RNP to be prepared in accordance with the policies of the TSX Venture Exchange (the "TSX-V"). A copy of the information circular will be available electronically on SEDAR (www.sedar.com) under RNP's issuer profile in due course.
The Horizon Antamina Agreement is subject to several conditions, including but not limited to, execution of definitive agreements, TSX-V acceptance, disinterested RNP shareholder approval and Horizon Copper raising $50 million.
With the close of the Transactions, Sandstorm is increasing its 2022 production guidance to be between 80,000 and 85,000 gold equivalent ounces, increasing to 155,000 gold equivalent ounces by 20252.
As part of the Transactions, Sandstorm will issue approximately 78.6 million6 Sandstorm Shares to Nomad shareholders and approximately 13.5 million Sandstorm Shares to BaseCore. Upon closing of the Transactions, existing Sandstorm shareholders will comprise 67% of the Company's ownership, while Nomad shareholders and BaseCore limited partners will own approximately 28% and 5% of Sandstorm, respectively.
Sandstorm has entered into an agreement with The Bank of Nova Scotia ("Scotiabank") and BMO Capital Markets ("BMO") as Co-Lead Arrangers securing a commitment to upsize the Company's existing revolving credit agreement to borrow up to $500 million with an additional uncommitted accordion of up to $125 million, for a total of up to $625 million (the "Revolving Loan"). The closing of the upsized credit facility is subject to certain conditions, including the satisfaction of the closing conditions for the BaseCore Transaction. The accordion of up to $125 million is subject to the satisfaction of the closing conditions for the Nomad Acquisition.
The amounts drawn on the Revolving Loan are subject to interest at SOFR plus 1.875%–3.5% per annum, and the undrawn portion of the Revolving Loan is subject to a standby fee of 0.422%–0.788% per annum, both of which are dependent on the Company's leverage ratio. With the amendment, Sandstorm's leverage ratio covenant has increased to 4.75x, with step-downs to 4.00x after five quarters post-closing of the BaseCore Transaction.
The Revolving Loan matures in October 2025, subject to an extension based on mutual consent of the parties.
The Revolving Loan maintains the existing sustainability-linked incentive pricing terms that allow Sandstorm to reduce the borrowing costs by up to five basis points (from the interest rates described above) as the Company's sustainability performance targets are met (see press release dated October 6, 2021).
A conference call will be held on Monday, May 2, 2022 starting at 7am PDT to further discuss the Transactions. To participate in the conference call, use the following dial-in numbers and conference ID, or join the webcast using the link below:
International: (+1) 416-764-8688
North American Toll-Free: (+1) 888-390-0546
Conference ID: 94124833
Webcast URL: https://bit.ly/3LNzTIx
The acquisitions of both Nomad Royalty Company and the BaseCore Royalty Package introduce several meaningful cash-flowing and development stage assets to Sandstorm's royalty portfolio. Noteworthy assets from the Transactions include:
Antamina is an open-pit copper mine located in the Andes mountain range of Peru, 270 kilometres north of Lima. It is the world's third-largest copper mine7 on a copper equivalent ("CuEq") basis, producing approximately 560,000 CuEq tonnes per annum. Antamina has been in consistent production since 2001, including a throughput expansion completed in 2012 to the mine's current operating capacity of 145,000 tonnes per day. Since 2006, the 1.66% NPI has paid between $7–$40 million per year, with an average annual payment of $19 million; the 2021 NPI payment was $40 million. The asset operates in the first cost quartile of copper mines8. The NPI is paid by a Canadian affiliate of Teck Resources Limited ("Teck") and is guaranteed by Teck.
In addition to copper, Antamina is also a significant zinc and silver producer. The mine is operated by Compañìa Minera Antamina ("CMA"), a top-tier operator jointly owned by Glencore (33.75%), BHP Billiton (33.75%), Teck (22.5%), and Mitsubishi Corporation (10%).
Antamina contains Resources that support a multi-decade mine life producing high-grade copper. The mine's Measured & Indicated Mineral Resources, inclusive of Reserves, total 925 million tonnes ("Mt") at 0.87% copper, 0.69% zinc, and 11 grams per tonne ("g/t") silver. Mineral Reserves total 336 Mt at 0.94% copper, 0.81% zinc and 10 g/t silver, which are constrained by current tailings capacity. Reserves will be expanded once additional tailings capacity is confirmed. Both Mineral Reserves and Resources are effective as of December 31, 2021 (cut-off grade unavailable). Sandstorm expects that significant resource conversion is likely as Antamina completes its studies on additional tailings capacity. Several Pre-Feasibility level tailings studies are underway focused on potential long-term solutions.
Per the terms of the Antamina Silver Stream, Sandstorm will receive 1.66% of all silver produced at Antamina for ongoing payments of 2.5% of the spot price of silver. Under the terms of the Antamina Residual Royalty, Sandstorm will hold a 0.55% NPI on all metals produced at Antamina, which represents approximately one-third of the total 1.66% Antamina NPI, net of the Antamina Silver Stream servicing commitments.
Platreef is a development stage project located in South Africa that contains an underground deposit of thick, high-grade platinum group elements ("PGE") nickel-copper-gold mineralization. It currently ranks as the largest precious metals deposit under development9 and has the potential to be the industry's largest and lowest-cost primary platinum group metals ("PGM") producer.
A Feasibility Study was released in the first quarter of 2022 by majority owner Ivanhoe Mines outlining a multi-phase construction approach. The first phase of production, currently expected to start in the second half of 2024, is based on an initial 0.7 million tonnes per annum ("Mtpa") underground mine targeting high-grade mining areas close to the project's recently completed shaft 1. The Feasibility Study outlines phase 2 expanding production to 5.2 Mtpa, driven by the addition of the second, larger shaft (shaft 2). Platreef's phase 2 would rank Platreef as the world's fifth-largest PGM mine on a palladium equivalent basis9. Previous studies completed on Platreef have demonstrated the potential for expansions up to 12 Mtpa.
Through the Nomad Acquisition, Sandstorm will hold a streaming agreement whereby the Company has the right to purchase 37.5% of gold produced from Platreef until 131,250 gold ounces have been delivered, 30% until an aggregate of 256,980 ounces of gold are delivered, and 5% thereafter. The gold stream will be based on all recovered gold from Platreef, subject to a fixed payability of 80%. Sandstorm will make ongoing payments of US$100 per ounce of gold until 256,980 ounces have been delivered, and then 80% of the spot price of gold for each ounce delivered thereafter.
The Greenstone project, owned jointly by Equinox Gold Corp. (60%) and Orion Mine Finance (40%), is a past-producing gold mine located in Ontario, Canada. A Feasibility Study was released in December 2020 outlining the design of an open-pit mine producing more than 5 million ounces ("Moz") over an initial 14-year mine life. Full-scale construction began at the project in October 2021, with first gold pour currently targeted for the first half of 2024.
Through the Nomad Acquisition, Sandstorm will hold a gold stream on the project for 5.938% of gold production attributed to Orion Mine Finance's 40% interest, for an effective gold stream of 2.375% on 100% of production, until 120,333 ounces of gold have been delivered, then 3.958% (effective 1.583% on 100% of production) thereafter. Ongoing payments of $30 per ounce will fund mine-level environmental and social programs.
Robertson is a development stage deposit part of the Cortez Mine Complex ("Cortez") in Nevada, jointly owned by Barrick Gold Corp ("Barrick) (61.5%) and Newmont Mining Corp (38.5%). Robertson is currently being qualified by Barrick as an emerging tier two gold asset (defined by Barrick as an asset with a reserve potential to deliver a minimum 10-year life, annual production of at least 250,000 ounces of gold and total cash costs per ounce of gold over the mine life that are in the lower half of the industry cost curve10).
Barrick released an updated Feasibility Study on Cortez in March 2022, which included an Indicated Resource at Robertson of 74 Mt at 0.56 g/t for 1.3 Moz contained gold with an effective date of December 31, 2021 (cut-off grade not disclosed, between 0.14–2.06 g/t). The Robertson deposit is expected to contribute meaningfully to Cortez's production profile starting in 202511.
Through the Nomad Acquisition, Sandstorm will hold a sliding scale NSR royalty between 1.0%–2.25% based on the average quarterly gold price. When the average price of gold for the quarter is between $1,800.01 and $2,000 per ounce, the NSR is equal to 2.0%, rising to 2.25% when the average quarterly gold price is above $2,000 per ounce. If the Robertson property is not in production by December 31, 2024, Sandstorm will receive advance royalty payments of $500,000 per annum commencing on January 1, 2025, and for each year thereafter until the earlier of January 2, 2034 and commencement of production on the Robertson property.
The Bonikro gold mine is a producing gold-silver mine located in Cotê d'Ivoire. The operation consists of two primary areas: the Bonikro mining license and the Hiré mining license. Gold has been produced from the Bonikro open-pit and through the Bonikro CIL plant since 2008 and over 1.0 Moz have been produced from Bonikro and Hiré. Hiré is a collection of three deposits and open-pits that are approximately 5.0 kilometres from the Bonikro mine and utilize the same Bonikro processing plant. Production in the last few quarters of 2021 was focused on the Hiré pits.
Through the Nomad Acquisition, Sandstorm will hold a variable gold stream on the Bonikro mine whereby Sandstorm will receive 6% of gold produced at the mine until 39,000 ounces of gold are delivered, then 3.5% of gold produced until 61,750 ounces of gold have been delivered, then 2% thereafter. Under the stream agreement Sandstorm will make ongoing payments at the lesser of a) $400 per ounce delivered, and b) the gold market price on the business day immediately preceding the date of delivery.
The Caserones copper mine is an open-pit operation located in the Atacama region of Chile, owned and operated by Minera Lumina Copper Chile, which is indirectly owned by JX Nippon Mining & Metals Corporation. The Caserones mine has over five years of operational history. In 2020, the Caserones mine produced 127,000 tonnes of copper and 2,453 tonnes of molybdenum12. The mine benefits from a significant historical investment of $4.2 billion and well-established infrastructure and is expected to produce significant volumes of copper and molybdenum over the long-term.
Through the Nomad Acquisition, Sandstorm's royalty interests will be an effective 0.63% NSR royalty on the Caserones mine when the copper price is above $1.25 per pound (royalty varies at copper prices below $1.25 per pound).
The Blyvoor Gold mine is an underground operation located on the Witwatersrand gold belt, South Africa, and commenced production in 1942. In June 2021, an updated 43-101 Technical Report was filed on the Blyvoor mine outlining a 22-year mine life with 5.5 Moz of gold in Proven & Probable Mineral Reserves (18.84 Mt at 9.09 g/t gold) and 11.37 Moz of gold in Measured & Indicated Mineral Resources (50.08 Mt at 7.06 g/t gold) inclusive of Mineral Reserves (cut-off grade of 479 cm.g/t and 117 cm.g/t, respectively). The current processing plant has a capacity of 1,300 tonnes per day ("tpd"). Based on Sandstorm's review of current operating plans at Blyvoor, the Company is budgeting for long-term production rates of 60,000–80,000 ounces of gold per annum, based on conventional mining methods.
Under the terms of the gold stream, until 300,000 ounces have been delivered ("Initial Blyvoor Delivered Threshold"), Blyvoor Gold Ltd. will deliver 10% of gold production until 16,000 ounces have been delivered in the calendar year, then 5% of the remaining production for that calendar year. Following the Initial Blyvoor Delivery Threshold, Sandstorm will receive 0.5% of gold production on the first 100,000 ounces in a calendar year until a cumulative 10.32 Moz of gold have been produced. Sandstorm will make ongoing payments of $572 per ounce of gold delivered.
The Canadian Electrolytic Zinc smelter ("CEZinc") is located in Quebec, Canada, on a site situated on the St. Lawrence Seaway along major transportation networks that connect the processing facility to its end markets in the United States and Canada. Jointly owned by Noranda Income Fund ("NIF") and a wholly-owned subsidiary of Glencore Canada, it is a leading producer of high-quality and sustainable refined zinc metal and various by-products from zinc concentrate sourced from mining operations around the world via Glencore Canada.
A planned expansion project at CEZinc includes the installation of additional belt filters and related equipment to increase the facility's filtration capacity. The required permits from the government of Quebec have been received and commissioning is targeted for the second quarter of 2022. Once commissioned, the expansion projects will allow the facility to maintain its current production levels as well as increase zinc production by approximately 20,000 tonnes per year to a target of 290,000 tonnes annually. NIF's annual production and sales target for 2022 is expected to be between 255,000 to 265,000 tonnes.
Upon closing of the BaseCore Transaction, Sandstorm will receive 1.0% of zinc processed at CEZinc until the later of June 30, 2030 or delivery of 68,000,000 pounds zinc. Sandstorm will make ongoing payments of 20% of the spot price of zinc for each delivery.
Highland Valley Copper ("HVC") is located in British Columbia, Canada. Owned and operated by Teck, HVC has been in production since 1962 and produces both copper and molybdenum concentrates.
Copper production in 2022 is anticipated to be between 127,000–133,000 tonnes, with an expected increase to 130,000–160,000 tonnes per year from 2023 to 2025.
Teck continues to evaluate the Highland Valley Copper 2040 Project ("HVC 2040"), which would extend the mine life to at least 2040, through an extension of the existing site infrastructure. HVC 2040 allows for the continuation of social and economic benefits, while also helping to meet the growing demand for copper driven by the transition to a low-carbon future. HVC 2040 would yield approximately 1.95 Mt of additional copper over the life of the project. HVC 2040 is currently undergoing an environmental assessment under the BC Environmental Assessment Act. Teck is planning for a decision on the assessment in late 2023.
At the close of the BaseCore Transaction, Sandstorm will hold a 0.5% NPI on HVC.
El Pilar is a low-capital intensity copper greenfield project located in Sonora, Mexico, approximately 45 kilometres from Southern Copper Corporation's ("Southern Copper") Buenavista mine. Estimated Proven and Probable Reserves as at December 31, 2021 at El Pilar are 317 Mt of ore with an average copper grade of 0.25% (cut-off grade was determined based on metallurgical recovery and operating costs). Southern Copper anticipates that the project will operate as a conventional open-pit mine with annual production capacity of 36,000 tonnes of copper cathodes. The basic engineering study is complete and project development is ongoing. Production is expected to begin in 2024 and the mine life is estimated at 16 years.
At the close of the BaseCore Transaction, Sandstorm will hold a sliding scale gross returns royalty ("GRR") after 85 million pounds (Mlbs) of copper have been produced. A 1.0% GRR rate is expected, increasing to a 2.0% GRR if Southern Copper defines Measured & Indicated Resources (inclusive of Reserves) greater than 3 billion pounds ("Blbs") CuEq. The royalty further increases to a 3.0% GRR if Measured & Indicated Resources (inclusive of Reserves) exceed 5 Blbs CuEq.
Horne 5 is a past-producing gold-silver-copper mine located in Quebec, Canada, owned by Falco Resources ("Falco"). An updated Feasibility Study was released in April 2021 that envisions an underground operation producing approximately 320,000 gold equivalent ounces ("AuEq") annually over a 15-year mine life. Proven and Probable Mineral Reserves are 80.9 Mt at an average grade of 1.44 g/t gold, 14.14 g/t silver, 0.17% copper, and 0.77% zinc with an effective date of August 26, 2017 (NSR Cutoff grade of CAD$55/tonne). Falco Resources currently anticipates production to start at the end of 2025. Falco intends to carry out future optimization studies to evaluate alternate development scenarios that would be used to reduce the initial capital requirements and increase revenue in the early stage of the mine life.
At the close of the BaseCore Transaction, Sandstorm will hold a 2.0% NSR royalty on the Horne 5 project.
The Nomad Acquisition is subject to approval of at least 66 2/3% of the votes cast by the shareholders of Nomad present in person or represented by proxy, at a special securityholders' meeting to consider the Nomad Acquisition.
In connection with the Nomad Acquisition, Nomad's principal shareholder, Orion Mine Finance II LP and Orion Mine Finance Fund III LP (collectively, "Orion"), have entered into irrevocable voting support agreements with Sandstorm pursuant to which Orion has agreed to vote all of its Nomad shares, representing in total approximately 61% of the Nomad shares on a fully diluted basis, in favour of the Nomad Acquisition. Directors and officers of Nomad, holding a total of approximately 5% of the Nomad shares on a fully diluted basis, have also entered into voting support agreements with the Company, pursuant to which they have agreed to vote their Nomad shares in favour of the Nomad Acquisition.
The issuance of Sandstorm Shares pursuant to the Nomad Acquisition will require approval by a simple majority of votes cast by the shareholders of Sandstorm present in person, or represented by proxy at a special shareholders' meeting to be called to consider the issuance of Sandstorm Shares pursuant to the requirements of the TSX. Officers and directors of Sandstorm collectively holding approximately 1.5% of the issued and outstanding Sandstorm Shares have entered into voting support agreements with Nomad pursuant to which they have agreed to, among other things, vote their Sandstorm Shares in favour of the issuance of the Sandstorm Shares pursuant to the Nomad Acquisition.
The completion of the Nomad Acquisition is also subject to applicable regulatory approvals including but not limited to approval by the Superior Court of Québec, TSX and NYSE approvals, approval under the Competition Act (Canada), and the satisfaction of certain other closing conditions customary for a transaction of this nature. The Arrangement Agreement contains customary non-solicitation, "fiduciary out", and "right to match" provisions in respect of Nomad, and non-solicitation and "fiduciary out" provisions in respect of Sandstorm, as well as a $20.6 million or $23.6 million termination fee payable to Sandstorm or Nomad, respectively, as the case may be, under certain circumstances. The Nomad Acquisition is expected to be completed in the second half of 2022.
None of the securities to be issued pursuant to the Transactions have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the Transactions are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
The Arrangement Agreement has been unanimously approved by the Boards of Directors of each of Sandstorm and Nomad, including in the case of Nomad, following the unanimous recommendation of a special committee of independent directors. Both Boards of Directors unanimously recommend that their respective securityholders vote in favour of the Nomad Acquisition.
National Bank Financial provided an opinion to the Board of Directors of Nomad and to the Nomad Special Committee. Cormark Securities has provided an independent opinion to the Nomad Special Committee. Each opinion to the effect that, as of the date of such opinion, subject to the respective assumptions, limitations and qualifications set out in such opinion, the consideration to be paid under the Nomad Acquisition is fair, from a financial point of view, to holders of Nomad Shares.
BMO Capital Markets provided a fairness opinion to the Board of Directors of Sandstorm stating that, as of the date of such opinion, and based upon and subject to the assumptions, limitations, and qualifications which will be set out in its written fairness opinion to be included in the information circular for Sandstorm shareholders' meeting, the consideration to be paid by Sandstorm pursuant to the Nomad Acquisition is fair, from a financial point of view, to Sandstorm.
BMO Capital Markets is acting as financial advisor to Sandstorm and its Board of Directors in connection with the Nomad Acquisition. Cassels Brock & Blackwell LLP and Neal, Gerber & Eisenberg LLP are acting as legal counsel to Sandstorm in connection with the Nomad Acquisition.
Fort Capital Partners and BMO Capital Markets are acting as financial advisors to Sandstorm in connection with the BaseCore Transaction.
*Stream terms change after certain deliveries are made or royalties percentages vary based on commodity price. See Nomad's annual information form dated March 30, 2022 (available on its profile at www.sedar.com) for full details.
The 1.66% Antamina NPI is calculated based on free cash flow at CMA. The calculation includes net proceeds from all sales less all site costs, offsite costs, capital expenditures, all incoming and mining taxes and environmental costs, third-party financing inflows and outflows, third party interest, and working capital changes. The holder of the NPI cannot be called upon to contribute cash to the operation.
Sandstorm is a gold royalty company that provides upfront financing to gold mining companies that are looking for capital and in return, receives the right to a percentage of the gold produced from a mine, for the life of the mine. After the Transactions close, Sandstorm will have acquired a portfolio of 260 royalties, of which 39 of the underlying mines are producing. Sandstorm plans to grow and diversify its low cost production profile through the acquisition of additional gold royalties. For more information visit: www.sandstormgold.com.
The financial information included or incorporated by reference in this press release or the documents referenced herein has been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, which differs from US generally accepted accounting principles ("US GAAP") in certain material respects, and thus are not directly comparable to financial statements prepared in accordance with US GAAP.
The disclosure and information contained or referenced herein uses mineral reserve and mineral resource classification terms that comply with reporting standards in Canada, and mineral reserve and mineral resource estimates are made in accordance with Canadian NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum — CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the "CIM Definition Standards"). These standards differ significantly from the mineral reserve disclosure requirements of the United States Securities Exchange Commission (the "SEC") set forth in Industry Guide 7. Consequently, information regarding mineralization contained or referenced herein is not comparable to similar information that would generally be disclosed by U.S. companies under Industry Guide 7 in accordance with the rules of the SEC. Further, the SEC has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the Securities Exchange Act of 1934 ("Exchange Act"). These amendments became effective February 25, 2019 (the "SEC Modernization Rules") and, commencing for registrants with their first fiscal year beginning on or after January 1, 2021, the SEC Modernization Rules replaced the historical property disclosure requirements included in SEC Industry Guide 7. As a foreign private issuer that files its annual report on Form 40-F with the SEC pursuant to the multi-jurisdictional disclosure system, the Company is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards. The SEC Modernization Rules include the adoption of terms describing mineral reserves and mineral resources that are "substantially similar" to the corresponding terms under the CIM Definition, but there are differences in the definitions under the SEC Modernization Rules and the CIM Definition Standards. Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the mineral reserve or mineral resource estimates under the standards adopted under the SEC Modernization Rules. U.S. investors are also cautioned that while the SEC recognizes "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under the Modernization Rules, investors should not assume that any part or all of the mineralization in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. Mineralization described using these terms has a greater amount of uncertainty as to its existence and feasibility than mineralization that has been characterized as reserves. Accordingly, investors are cautioned not to assume that any measured mineral resources, indicated mineral resources, or inferred mineral resources that the Company reports are or will be economically or legally mineable. Further, "inferred mineral resources" have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Therefore, U.S. investors are also cautioned not to assume that all or any part of the "inferred mineral resources" exist. Under Canadian securities laws, estimates of "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies, except in rare cases. For the above reasons, information contained or referenced herein regarding descriptions of our mineral reserve and mineral resource estimates is not comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements of the SEC under either Industry Guide 7 or SEC Modernization Rules.
This press release contains "forward-looking statements", within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Sandstorm Gold Royalties. Forward-looking statements and information include, but are not limited to expectations regarding whether the proposed Transactions will be consummated, including whether conditions to the consummation of the Transactions will be satisfied, or the timing for completing the Transactions; expectations regarding the potential benefits and synergies of the Transactions and the ability of Sandstorm post-completion of the Transactions to successfully achieve business objectives, including integrating the companies or assets or the effects of unexpected costs, liabilities or delays; expectations regarding the growth potential of Sandstorm including in scale and production and the anticipated benefits of the Transactions; expectations regarding financial strength, trading liquidity, and capital markets profile; expectations relating to the entering into of definitive agreements related to the Horizon Antamina Agreement and the subsequent spin-out of the Antamina NPI, including the anticipated terms and expected timing thereof; the availability of the exemption under Section 3(a)(10) of the U.S. Securities Act to the securities issuable pursuant to the Transactions; the future price of gold, silver, copper, iron ore and other metals; the estimation of mineral reserves and mineral resources, and realization of mineral reserve and mineral resource estimates; the timing and amount of estimated future production; and expectations for other economic, business, and/or competitive factors. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", or similar terminology.
Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of Sandstorm Gold Royalties to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Sandstorm Gold Royalties will operate in the future, including the receipt of all required approvals, the price of gold and copper and anticipated costs. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, failure to receive necessary approvals, changes in business plans and strategies, market conditions, share price, best use of available cash, gold and other commodity price volatility, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries, mining operational and development risks relating to the parties which produce the gold or other commodity the Company will purchase, regulatory restrictions, activities by governmental authorities (including changes in taxation), currency fluctuations, the global economic climate, dilution, share price volatility and competition.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the impact of general business and economic conditions, the absence of control over mining operations from which the Company will purchase gold, other commodities or receive royalties from, and risks related to those mining operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined, risks in the marketability of minerals, fluctuations in the price of gold and other commodities, fluctuation in foreign exchange rates and interest rates, stock market volatility, as well as those factors discussed in the section entitled "Risks to Sandstorm" in the Company's annual report for the financial year ended December 31, 2021 and the section entitled "Risk Factors" contained in the Company's annual information form dated March 31, 2022 available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained or incorporated by reference, except in accordance with applicable securities laws.
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First-of-its-kind Fellowship Funded by Peng Zhao and Cherry Chen will Provide 16 Fellows Annually with Tuition-Free Master Program in Improvisational Comedy
CHICAGO, May 2, 2022 /PRNewswire/ -- Legendary Chicago comedy institution The Second City is proud to announce the creation of The Victor Wong Fellowship, a program to train and mentor up-and-coming comedians. Named after The Second City's first Asian American performer and funded by Peng Zhao, CEO of Citadel Securities, and his wife, Cherry Chen, the fellowship will focus on developing the next generation of Asian American and Pacific Islander (AAPI) talent.
Beginning this fall, 16 fellows a year will be selected through auditions and granted a ten-week, tuition-free master program in improvisational comedy taught by The Second City's top professional instructors and directors. The fellows will also have access to the theater's executive creative team and alumni, including AAPI mentors. Following the training, the fellows will present a mix of their original comedy, improvisational games, and classic scenes from The Second City archives in a showcase event on a Second City stage in Chicago.
"Beyond professional success on stage and screen, the skills of improvisation are a kind of super-power for life," said Parisa Jalili, COO of The Second City. "We are thrilled that this gift will allow us to train emerging AAPI talent to both hone their comedy skills as well as their skills to be deeply collaborative, resilient, and creative individuals."
"Comedy connects us by validating our shared experiences and opening our minds to new ones," said Mr. Zhao and Ms. Chen. "Further diversifying the comedic community will help move this important medium—and the society it serves—forward. We are excited to help bring the unique perspectives of AAPI talent to the stage."
The Victor Wong Fellowship is the first program by a major comedy theater to exclusively endow AAPI talent. The Second City has also been home to the NBC-backed Bob Curry Fellowship since 2014, which annually grants performers from varying diverse multicultural backgrounds a tuition-free master program.
The Victor Wong Fellowship builds on Mr. Zhao and Ms. Chen's longstanding commitment to accelerating opportunity and prosperity for the 23 million members of the AAPI community in the United States. Mr. Zhao is a founding board member of The Asian American Foundation (TAAF), which has become a catalyzing force for improving AAPI advocacy, power, and representation across American society. Mr. Zhao and Ms. Chen have convened and funded a variety of other initiatives focused on supporting Chicago and the AAPI community, including most recently The Peng Zhao and Cherry Chen Fund for AAPI Voices in partnership with Kartemquin Films.
Auditions for the inaugural Victor Wong Fellowship will be held in August 2022.
About The Second City
The Second City opened its doors in 1959 as a small comedy cabaret and has since grown to become the world's most influential name in improv and comedy. Second City's stages, Touring Companies, and Training Centers across North America have proudly been the launch pad for many of the funniest names on the planet, including John Belushi, John Candy, Steve Carell, Stephen Colbert, Chris Farley, Tina Fey, Keegan-Michael Key, Eugene Levy, Tim Meadows, Bill Murray, Mike Myers, Suzy Nakamura, Catherine O'Hara, Amy Poehler, Gilda Radner, Sam Richardson, Joan Rivers, Amber Ruffin, Jason Sudeikis, and Steven Yeun, among many more.
About Victor Wong
California native Victor Wong (1927-2001), moved to Chicago in the 1950s to study theology at the University of Chicago before becoming involved with The Second City. Mr. Wong joined The Second City at the encouragement of his close friend and famed theater academic, Viola Spolin. A fixture in the San Francisco Beat Scene of the 1950s and '60s alongside Jack Kerouc and Lawrence Ferlinghetti, Mr. Wong's acting credits included notable roles in the films "The Joy Luck Club," "The Last Emperor," "Big Trouble in Little China," "The Three Ninjas" series, and "The Golden Child."
Press Contact:
Colleen Fahey
VP of Marketing, The Second City
cfahey@secondcity.com
(312) 662-4516
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SOURCE The Second City | https://www.whsv.com/prnewswire/2022/05/02/second-city-launches-victor-wong-fellowship-aapi-voices-comedy/ | 2022-05-02T11:52:26Z |
NATCHITOCHES, La., May 2, 2022 /PRNewswire/ -- For outstanding contributions to the local community and state, Louisiana Economic Development (LED) honored Southern Scripts as a 2022 Louisiana Growth Leader at the fifth annual Spotlight Louisiana event on April 21st, 2022, held at the Hilton Baton Rouge Capitol Center. As an Honored Leader, Southern Scripts will join an accomplished group of Louisiana businesses under the LED Growth Network.
Through this esteemed network, Southern Scripts will continue to have access to strategic business resources that benefit both the organization and state of Louisiana. Among these are customized leadership retreats, strategic research, networking, peer learning, and mentorship opportunities as well as additional technical assistance with the goal of accelerating the growth of Louisiana's economy.
Louisiana Growth Leaders are selected by a statewide panel of economic development professionals that evaluate applications on a wide variety of criteria including growth, strategy, innovation, philanthropy, leadership, and company culture. Key aspects that influenced the selection of Southern Scripts are:
- Surpassed 1,500 clients in 2021.
- Serves 500,000+ members in 50 states, District of Columbia, Puerto Rico, and the Virgin Islands.
- Doubled annual sales from 2019 to 2021.
- Earned a net promoter score of 89 in 2021.
- Approved by Pharmacists United for Truth and Transparency (PUTT), a non-profit advocacy organization.
- Supportive of numerous community events and organizations including the American Cancer Society's Relay for Life, Northwestern State University, University of Louisiana at Monroe, Natchitoches Chamber of Commerce, Natchitoches Jazz/R&B Festival, and local schools and sports groups.
"Each of our 2022 Louisiana Growth Leaders have succeeded in bringing great products and services to the marketplace," Gov. John Bel Edwards said. "The companies being recognized have persevered through challenges, capitalized on opportunities, and represent some of the best of what Louisiana has to offer. I look forward to their continued success."
"Tonight's 2022 Growth Leader honorees are important companies in Louisiana, providing more than good jobs and a foundation of economic activity," LED Secretary Don Pierson said. "They are community leaders and supporters, with vision and drive. I had the privilege of meeting many of this year's recipients through LED Growth Network programs, hearing their stories of meeting challenges, and watching them succeed in scaling their companies. LED is honored to play a role in supporting their growth objectives and celebrating their hard-earned success."
"Being acknowledged as an Honored Leader is a testament to all at Southern Scripts," said LeAnn C. Boyd, chief executive officer and cofounder. "This recognition demonstrates our commitment to one of our core values: strategic growth in all measures. We believe in the value of business growth, personal and professional development, and community enrichment. We appreciate LED programs that aid in the development of Louisiana-based enterprises."
More information about Southern Scripts can be found in the online publication – Louisiana's Entrepreneurial Engine (2022): https://www.opportunitylouisiana.com/led-news/news-releases/news/2022/04/21/10-companies-honored-as-2022-louisiana-growth-leaders
About Southern Scripts: Southern Scripts is a leading transparent pharmacy benefit manager. The company was founded in 2011 to simplify and streamline costs incurred by U.S. employers for pharmaceutical drug benefits. Southern Scripts offers a unique pass-through and transparent model that generates both meaningful savings and optimal health outcomes for its customers. The company serves more than 1,500 employers across the United States. For more information on Southern Scripts, visit www.southernscripts.net.
About the LED Growth Network: Launched in 2017, the LED Growth Network provides continued access to strategic business resources and growth opportunities. The Network is constantly growing both in terms of new companies and additional resources designed to accelerate growth. As of January 2022, the Network consists of about 550 companies that represent more than 20,000 full time equivalent employees and generate nearly $4 billion in annual sales. For more information, contact Christopher Cassagne at 225-342-5882 or email Christopher.Cassagne@la.gov.
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SOURCE Southern Scripts | https://www.whsv.com/prnewswire/2022/05/02/southern-scripts-honored-2022-louisiana-growth-leader/ | 2022-05-02T11:52:33Z |
Reduction in transaction valuation and a proposed offering of up to one million bonus shares to non-redeeming public shareholders to reduce their cost basis
Convertible note of $16 million from a global institutional investor and a $50 million committed equity financing facility from an affiliate of Cantor Fitzgerald L.P.
BOCA RATON, Fla., May 2, 2022 /PRNewswire/ -- SpringBig, Inc. ("springbig" or the "Company"), a leading provider of SaaS-based marketing solutions, mobile app experiences, and omnichannel loyalty programs to the cannabis industry, and Tuatara Capital Acquisition Corporation (NASDAQ: TCAC) ("TCAC") today announced amendments to their merger agreement and securing of additional committed capital to ensure the business combination has adequate funding to execute its growth plan.
Amendments to Business Combination
springbig and TCAC recognize that market conditions have changed since the proposed merger agreement was initially announced on November 9, 2021, and have agreed to amend the terms to reflect current conditions and thereby encourage public shareholders to support the transaction and retain their shares.
The amended and restated merger agreement reduces the total enterprise value of the Company to $275 million, representing an 8% reduction in valuation from the initial agreement. In addition, a bonus pool of up to 1 million shares of TCAC common stock will be allocated pro-rata to non-redeeming public stockholders up to a maximum of one bonus share for each share held, effectively reducing their cost base. For additional details, please reference the Form 8-K filed with the U.S. Securities and Exchange Commission on April 19, 2022.
Convertible Notes
springbig and TCAC are also announcing an agreement for the issuance of senior secured convertible notes with a 24-month maturity (the "Notes"), up to $16 million principal amount of which have been subscribed to by a global institutional investor. An initial tranche of $11 million will close in connection with the closing of the merger agreement. The second tranche of $5 million, subject to certain conditions in the agreement, will close 60 days after the resale registration statement is declared effective by the SEC. For additional details please reference the Form 8-K filed with the U.S. Securities and Exchange Commission on May 2, 2022.
Equity Financing Facility
In addition, TCAC entered into a committed equity financing facility (the "CEF Facility") with an affiliate of Cantor Fitzgerald L.P. ("Cantor"). Under the terms of the CEF Facility, Cantor has committed to purchase, after the closing of the proposed merger with the Company, up to an aggregate of $50 million of TCAC's common shares from time to time at TCAC's request. For additional details please reference the Form 8-K filed with the U.S. Securities and Exchange Commission on May 2, 2022.
Management Commentary
Paul Sykes, Chief Financial Officer of springbig, said: "These latest developments represent further significant steps towards completing our business combination with TCAC. The amendments to the terms of the merger have enhanced the value of this transaction to our public shareholders. By reducing valuation and combining this with the innovative structure of offering up to one million bonus shares to be issued pro-rata to non-redeeming public shareholders, we believe we have created an attractive proposition that adequately reflects current market dynamics. Additionally, the commitments we have received from the global institutional investor with respect to the senior secured convertible note, the CEF Facility with Cantor, and the previously announced $13 million common equity PIPE will ensure that springbig starts life as a public company with access to adequate capital to continue to scale our existing business and pursue our expansion strategies as opportunities emerge."
Jeffrey Harris, CEO of springbig, added: "We are delighted to have the support of Cantor and an institutional investor. The growth opportunity ahead of springbig is significant as we look to strengthen our core loyalty and marketing communication capabilities, execute our expansion strategies, and deploy the additional capital we receive from our transition into a public company."
Advisors
Cantor Fitzgerald & Co. is serving as exclusive placement agent for the PIPE financing. DLA Piper LLP (US) is acting as placement agent counsel.
The business combination is expected to close in mid-2022, subject to the approval of TCAC's shareholders and other customary closing conditions and regulatory approvals. Upon closing of the business combination, the combined company will operate under the springbig name and is expected to remain listed on the NASDAQ Stock Market, under the new symbol "SBIG." A link to the latest amended S-4 filing can be found through the SEC's website.
About springbig
springbig is a market-leading software platform providing customer loyalty and marketing automation solutions to cannabis retailers and brands in the U.S. and Canada. springbig's platform connects consumers with retailers and brands, primarily through SMS marketing, as well as emails, customer feedback system, and loyalty programs, to support retailers' and brands' customer engagement and retention. springbig offers marketing automation solutions that provide for consistency of customer communication, thereby driving customer retention and retail foot traffic. Additionally, springbig's reporting and analytics offerings deliver valuable insights that clients utilize to better understand their customer base, purchasing habits and trends. On November 9, 2021, springbig announced that it entered into a definitive agreement for a business combination with Tuatara Capital Acquisition Corporation (NASDAQ: TCAC) ("TCAC"). The business combination is expected to close in mid-2022, subject to the approval of TCAC's shareholders, the filed Form S-4 (the "Registration Statement") being declared effective by the SEC, and other customary closing conditions and regulatory approvals. Upon closing of the business combination, the combined company will operate under the springbig name and is expected to remain listed on the NASDAQ Stock Market, under the new symbol "SBIG." For more information, visit https://springbig.com/.
About Tuatara Capital Acquisition Corporation
Tuatara Capital Acquisition Corporation is a blank check company incorporated for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchaser, reorganization or similar business combination with one or more businesses, pursuing targets that are focused on businesses in the cannabis industry that are compliant with all applicable laws and regulations within the jurisdictions in which they are located or operate. For more information, visit https://tuataraspac.com/.
Additional Information About the Proposed Business Combination and Where to Find It
The proposed business combination will be submitted to stockholders of TCAC for their consideration. In connection with the proposed business combination, TCAC has filed a registration statement on Form S-4 (the "Registration Statement") with the SEC, which will include preliminary and definitive proxy statements to be distributed to TCAC's stockholders in connection with TCAC's solicitation for proxies for the vote by TCAC's stockholders in connection with the proposed business combination and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to springbig's stockholders in connection with the completion of the proposed business combination. After the Registration Statement has been declared effective, TCAC will mail a definitive proxy statement and other relevant documents to its stockholders as of the record date established for voting on the proposed business combination. Before making any voting decision, TCAC's stockholders and other interested persons are advised to read, once available, the preliminary proxy statement / prospectus and any amendments thereto and, once available, the definitive proxy statement / prospectus, along with all other relevant documents filed or that will be filed with the SEC in connection with the proposed business combination and the TCAC's solicitation of proxies for its special meeting of stockholders to be held to approve, among other things, the proposed business combination, because these documents will contain important information about TCAC, springbig (including, without limitation, further financial information and results) and the proposed business combination. Stockholders will be able to obtain free copies of the preliminary or definitive proxy statement, once available, as well as other documents filed with the SEC regarding the proposed business combination and other documents filed with the SEC by TCAC, without charge, at the SEC's website located at www.sec.gov or by directing a request to Tuatara Capital Acquisition Corporation, 655 Third Avenue, 8th Floor, New York 10017.
Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements may include, but are not limited to, statements with respect to (i) trends in the cannabis industry and springbig market size, including with respect to the potential total addressable market in the industry; (ii) springbig's growth prospects; (iii) springbig's projected financial and operational performance, including relative to its competitors; (iv) new product and service offerings springbig may introduce in the future; (v) the potential transaction, including the implied enterprise value, the expected post-closing ownership structure and the likelihood and ability of the parties to successfully consummate the potential transaction; (vi) the risk that the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the price of TCAC's securities; (vii) the failure to satisfy the conditions to the consummation of the proposed business combination, including the approval of the proposed business combination by TCAC's stockholders; (viii) the effect of the announcement or pendency of the proposed business combination on TCAC's or springbig's business relationships, performance, and business generally; (ix) the outcome of any legal proceedings that may be instituted against TCAC or springbig related to the definitive agreement or the proposed business combination; (x) the ability to maintain the listing of TCAC's securities on the NASDAQ; (xi) the price of TCAC's securities, including volatility resulting from changes in the competitive and highly regulated industry in which springbig plans to operate, variations in performance across competitors, changes in laws and regulations affecting springbig's business and changes in the combined capital structure; (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities; and (xiii) other statements regarding springbig's and TCAC's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "outlook," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject, are subject to risks and uncertainties. You should carefully consider the risks and uncertainties described in the "Risk Factors" section of TCAC's registration statements on Form S-1 and Form S-4, any proxy statement/prospectus relating to the transaction, other documents filed by TCAC from time to time with SEC, and any risk factors made available to you in connection with TCAC, springbig and the transaction. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond the control of springbig and TCAC), and other assumptions, that may cause the actual results or performance to be materially different from those expressed or implied by these forward-looking statements.
Participants in the Solicitation
TCAC, springbig and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from TCAC's stockholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of TCAC's stockholders in connection with the proposed business combination will be set forth in TCAC's proxy statement / prospectus when it is filed with the SEC. You can find more information about TCAC's directors and executive officers in TCAC's final prospectus dated February 11, 2021, and filed with the SEC on February 16, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement / prospectus when they become available. Stockholders, potential investors, and other interested persons should read the proxy statement / prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.
No Offer or Solicitation
This press release relates to a proposed business combination between TCAC and springbig and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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SOURCE springbig | https://www.whsv.com/prnewswire/2022/05/02/springbig-tuatara-capital-acquisition-corporation-announce-amendments-business-combination-enhance-transaction-public-shareholders-additional-funding-through-convertible-note-committed-equity-financing-facility/ | 2022-05-02T11:52:39Z |
Study did not meet primary endpoints of mean change in low luminance visual acuity (LLVA) and geographic atrophy (GA) progression
Categorical improvement in LLVA, with >15% of elamipretide-treated patients gaining 2+ lines of vision at Week 48
Elamipretide demonstrated enhanced ellipsoid zone preservation through reduction of progressive attenuation, an important indicator of photoreceptor loss.
Company to host conference call and webcast today at 8:30 a.m. ET
BOSTON, May 2, 2022 /PRNewswire/ -- Stealth BioTherapeutics (Nasdaq: MITO), a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for diseases involving mitochondrial dysfunction, today announced top-line data from its Phase 2 ReCLAIM-2 trial evaluating elamipretide in patients with geographic atrophy (GA) secondary to dry age-related macular degeneration. Although the trial did not meet its primary endpoints assessing mean changes in LLVA and GA, a key secondary endpoint showed however that elamipretide categorically improved visual function for patients with GA. Additionally, elamipretide demonstrated proof of mechanism by reducing progressive ellipsoid zone loss, a key biomarker of retinal mitochondrial health which has been shown to be predictive of long-term GA growth and development. Based on these data, the Company currently plans to progress development initiatives intended to better position this indication for potential partnering consistent with previous guidance.
"The categorical improvement in LLVA is a potentially important finding for patients with GA, who experience increasing impairment in their daily functioning due to the otherwise progressive and irreversible vision loss that characterizes this disease," said Jeffrey Heier, M.D., principal investigator of the ReCLAIM-2 study and director, retina service and director, retinal research, Ophthalmic Consultants of Boston. "This approach shows the possibility to improve visual function for patients with this devastating disease, and we look forward to the Company's continued development efforts."
ReCLAIM-2 was a randomized, double-masked, parallel-group, placebo-controlled trial to evaluate the efficacy and safety of elamipretide over 48 weeks in 176 patients with GA. Elamipretide improved LLVA relative to placebo, although the mean change (primary endpoint) was not statistically significant. Administration of elamipretide resulted in a 2 or more line gain in LLVA for greater than 15% of patients completing the 48-week trial (p=0.04). Although this improvement in visual function was not associated with reduced GA progression (primary endpoint), a significant reduction in ellipsoid zone loss (p=0.0034) was observed.
"We are excited by this finding that elamipretide resulted in reduction of progressive ellipsoid zone attenuation and may be a leading indicator for progression to more advanced disease," said Justis P. Ehlers, M.D., Advanced OCT Analysis Director for ReCLAIM-2. "We believe that mitochondrial dysfunction plays an important role in AMD progression and ellipsoid zone loss on OCT is a potential important biomarker and endpoint for both intermediate AMD and evaluating long-term GA progression risk. Advanced technologies for enabling the quantification of these ellipsoid zone alterations provide new avenues for better evaluating treatment response and disease features."
Elamipretide was generally well tolerated in ReCLAIM-2. Injection site reactions were the most commonly observed adverse events and in some cases led to early termination. The rate of new-onset exudations was 5% for patients treated with elamipretide versus 7% for patients treated with placebo.
"Although we are disappointed that the trial did not meet its primary endpoints, we are pleased to observe that elamipretide improved visual function for patients with GA, a finding we also saw in our Phase 1 ReCLAIM trial," said Reenie McCarthy, CEO of Stealth BioTherapeutics. "We are also encouraged by this evidence that elamipretide is improving mitochondrial function in the retina, which may offer us important enrichment strategies as we consider pivotal trial design and, importantly, demonstrates in vivo proof of mechanism. We are committed to making a meaningful difference for patients living with dry AMD and other diseases of mitochondrial dysfunction, and we believe that this demonstration of elamipretide's potential to improve mitochondrial health in older adults underscores the potential of our platform."
Conference Call Information
Stealth will host a conference call and webcast today at 8:30 am ET to discuss the ReCLAIM-2 trial. The call can be accessed by dialing 1-877-407-0989 (toll free) or 1-201-389-0921 (international) and referencing conference ID 13729736. A live audio webcast of the event can be accessed by visiting the Investors & News section of Stealth's Investor website, https://investor.stealthbt.com/. A replay of the webcast will be archived on Stealth's website for 30 days following the event.
About Geographic Atrophy
Geographic atrophy (GA) is an advanced form of dry age-related macular degeneration (AMD), a leading cause of blindness. GA lesions affect the central portion of the retina, known as the macula, which is responsible for central vision. GA is progressive and irreversible, leading to central visual impairment and permanent loss of vision. Based on published studies, more than five million people have GA globally including an estimated two million people in the United States. There are currently no approved treatments for GA.
About Stealth
We are a clinical-stage biotechnology company focused on the discovery, development, and commercialization of novel therapies for diseases involving mitochondrial dysfunction. Mitochondria, found in nearly every cell in the body, are the body's main source of energy production and are critical for normal organ function. Dysfunctional mitochondria characterize a number of rare genetic diseases and are involved in many common age-related diseases, typically involving organ systems with high energy demands such as the eye, the neuromuscular system, the heart and the brain. We believe our lead product candidate, elamipretide, has the potential to treat ophthalmic diseases entailing mitochondrial dysfunction, such as dry AMD, rare neuromuscular disorders, such as primary mitochondrial myopathy and Duchenne muscular dystrophy, and rare cardiomyopathies, such as Barth syndrome. We are evaluating our second-generation clinical-stage candidate, SBT-272, for rare neurological disease indications, such as amyotrophic lateral sclerosis and frontotemporal lobar dementia, following promising preclinical data. We have optimized our discovery platform to identify novel mitochondria-targeted compounds which may be nominated as therapeutic product candidates or utilized as mitochondria-targeted vectors to deliver other compounds to mitochondria.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those regarding Stealth BioTherapeutics' expectations for its clinical development of elamipretide for GA associated with dry AMD and other indications, the potential benefits of elamipretide and potential regulatory interactions. Statements that are not historical facts, including statements about Stealth BioTherapeutics' beliefs, plans and expectations, are forward-looking statements. The words "anticipate," "expect," "hope," "plan," "potential," "possible," "will," "believe," "estimate," "intend," "may," "predict," "project," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Stealth BioTherapeutics may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements as a result of known and unknown risks, uncertainties and other important factors, including: Stealth BioTherapeutics' ability to obtain additional funding and to continue as a going concern; the impact of the COVID-19 pandemic; the ability to successfully demonstrate the efficacy and safety of Stealth BioTherapeutics' product candidates and future product candidates; the preclinical and clinical results for Stealth BioTherapeutics' product candidates, which may not support further development and marketing approval; the potential advantages of Stealth BioTherapeutics' product candidates; the content and timing of decisions made by the FDA, the EMA or other regulatory authorities, investigational review boards at clinical trial sites and publication review bodies, which may affect the initiation, timing and progress of preclinical studies and clinical trials of Stealth BioTherapeutics product candidates; Stealth BioTherapeutics' ability to obtain and maintain requisite regulatory approvals and to enroll patients in its planned clinical trials; unplanned cash requirements and expenditures; competitive factors; Stealth BioTherapeutics' ability to obtain, maintain and enforce patent and other intellectual property protection for any product candidates it is developing; and general economic and market conditions. These and other risks are described in greater detail under the caption "Risk Factors" included in the Stealth BioTherapeutics' most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission ("SEC"), as well as in any future filings with the SEC. Forward-looking statements represent management's current expectations and are inherently uncertain. Except as required by law, Stealth BioTherapeutics does not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances.
Investor Relations
Kendall Investor Relations
Adam Bero, 617-914-0008
IR@StealthBT.com
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SOURCE Stealth BioTherapeutics Inc. | https://www.whsv.com/prnewswire/2022/05/02/stealth-biotherapeutics-announces-data-reclaim-2-phase-2-trial-elamipretide-geographic-atrophy/ | 2022-05-02T11:52:45Z |
LISLE, Ill., May 2, 2022 /PRNewswire/ -- Today, SunCoke Energy, Inc. (NYSE: SXC) announced that its Board of Directors declared a cash dividend of $0.06 per share of the Company's common stock to be paid June 1, 2022 to stockholders of record at the close of business on May 18, 2022.
ABOUT SUNCOKE ENERGY, INC.
SunCoke Energy, Inc. (NYSE: SXC) supplies high-quality coke to domestic and international customers. Our coke is used in the blast furnace production of steel as well as the foundry production of casted iron, with the majority of sales under long-term, take-or-pay contracts. We also export coke to overseas customers seeking high-quality product for their blast furnaces. Our process utilizes an innovative heat-recovery technology that captures excess heat for steam or electrical power generation and draws upon more than 60 years of cokemaking experience to operate our facilities in Illinois, Indiana, Ohio, Virginia and Brazil. Our logistics business provides export and domestic material handling services to coke, coal, steel, power and other bulk customers. The logistics terminals have the collective capacity to mix and transload more than 40 million tons of material each year and are strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports. To learn more about SunCoke Energy, Inc., visit our website at www.suncoke.com.
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SOURCE SunCoke Energy, Inc. | https://www.whsv.com/prnewswire/2022/05/02/suncoke-energy-inc-declares-cash-dividend/ | 2022-05-02T11:52:51Z |
- First quarter 2022 net income attributable to SXC was $29.5 million, or $0.35 per share
- Adjusted EBITDA(1) for the quarter was $83.8 million, up 18.6 percent, versus the prior year period, representing SunCoke's best ever quarterly results
- Well positioned to modestly exceed the full year 2022 Adjusted EBITDA guidance range of $240 million to $255 million
LISLE, Ill., May 2, 2022 /PRNewswire/ -- SunCoke Energy, Inc. (NYSE: SXC) today reported results for the first quarter 2022, reflecting strong performance in our Domestic Coke and Logistics segments.
"Our Domestic Coke and Logistics segments had an excellent start to the year with the backdrop of strong commodity markets and rising demand for our products and services. Although our coke production was impacted by an unusually wet winter, it was more than offset by the higher margins from our export coke sales. Our Logistics segment continues to deliver solid results and we added new customers at our domestic terminals." said Mike Rippey, President and Chief Executive Officer of SunCoke Energy, Inc. "With the backdrop of current strength in steel and coal markets, but also factoring in the uncertain global macroeconomic conditions, we now expect to modestly exceed the top end of full year 2022 Adjusted EBITDA guidance range."
FIRST QUARTER CONSOLIDATED RESULTS
Revenues in the first quarter of 2022 increased $79.9 million as compared to the same prior year period, primarily reflecting the pass-through of higher coal prices and favorable export and foundry coke pricing.
Net income attributable to SXC and Adjusted EBITDA increased $13.0 million and $13.2 million, respectively, as compared to the same prior year period, primarily as a result of higher margins on export sales partially offset by lower domestic coke sales described below.
FIRST QUARTER SEGMENT RESULTS
Domestic Coke
Domestic Coke consists of cokemaking facilities and heat recovery operations at our Jewell, Indiana Harbor, Haverhill, Granite City and Middletown plants.
Revenues increased $76.3 million as compared to the same prior year period, primarily reflecting the pass-through of higher coal prices and favorable export and foundry pricing.
Adjusted EBITDA increased $12.5 million as compared to the same prior year period largely due to higher margins on export sales partially offset by lower domestics coke sales volumes as a result of changes in the mix of production and unfavorable weather conditions.
Logistics
Logistics consists of the handling and mixing services of coal and other aggregates at our Convent Marine Terminal ("CMT"), Lake Terminal, Kanawha River Terminals ("KRT") and Dismal River Terminal ("DRT").
Revenues and Adjusted EBITDA increased by $2.7 million and $1.7 million, respectively, as compared to the same prior year period driven by favorable pricing at CMT based on the API2 coal index price.
Brazil Coke
Brazil Coke consists of a cokemaking facility in Vitória, Brazil, which we operate for an affiliate of ArcelorMittal.
Revenues and Adjusted EBITDA were $9.4 million and $4.2 million, respectively, during the first quarter 2022, which was comparable to results in the first quarter 2021.
Corporate and Other
Corporate and other expenses, which include activity from our legacy coal mining business, was $9.0 million during first quarter 2022, $0.7 million higher than $8.3 million during first quarter 2021 driven primarily by higher employee related costs, partly offset by a $0.9 million favorable change in period-over-period, mark-to-market adjustments on deferred compensation as compared to the same prior year period.
2022 OUTLOOK
Our 2022 guidance is as follows:
- Domestic Coke total production is expected to be approximately 4.1 million tons
- Consolidated Adjusted EBITDA is expected to be modestly above the guidance range of $240 million to $255 million
- Capital expenditures are projected to be approximately $80 million
- Cash generated by operations is estimated to be between $190 million to $205 million
- Cash taxes are projected to be $8 million to $12 million
RELATED COMMUNICATIONS
We will host our quarterly earnings call at 11:30 a.m. Eastern Time (10:30 a.m. Central Time) today. The conference call will be webcast live and archived for replay in the Investors section of www.suncoke.com. Investors and analysts may participate in this call by using the following link: https://conferencingportals.com/event/QkyupBiI
Upon registration, each participant will be emailed a confirmation and dial-in details.
SUNCOKE ENERGY, INC.
SunCoke Energy, Inc. (NYSE: SXC) supplies high-quality coke to domestic and international customers. Our coke is used in the blast furnace production of steel as well as the foundry production of casted iron, with the majority of sales under long-term, take-or-pay contracts. We also export coke to overseas customers seeking high-quality product for their blast furnaces. Our process utilizes an innovative heat-recovery technology that captures excess heat for steam or electrical power generation and draws upon more than 60 years of cokemaking experience to operate our facilities in Illinois, Indiana, Ohio, Virginia and Brazil. Our logistics business provides export and domestic material handling services to coke, coal, steel, power and other bulk customers. The logistics terminals have the collective capacity to mix and transload more than 40 million tons of material each year and are strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports. To learn more about SunCoke Energy, Inc., visit our website at www.suncoke.com.
SunCoke routinely announces material information to investors and the marketplace using press releases, Securities and Exchange Commission filings, public conference calls, webcasts and SunCoke's website at http://www.suncoke.com/English/investors/sxc. The information that SunCoke posts to its website may be deemed to be material. Accordingly, SunCoke encourages investors and others interested in SunCoke to routinely monitor and review the information that SunCoke posts on its website, in addition to following SunCoke's press releases, Securities and Exchange Commission filings and public conference calls and webcasts.
DEFINITIONS
- Adjusted EBITDA represents earnings before interest, taxes, depreciation and amortization ("EBITDA"), adjusted for any impairments, restructuring costs and gains or losses on extinguishment of debt. EBITDA and Adjusted EBITDA do not represent and should not be considered alternatives to net income or operating income under GAAP and may not be comparable to other similarly titled measures in other businesses. Management believes Adjusted EBITDA is an important measure in assessing operating performance. Adjusted EBITDA provides useful information to investors because it highlights trends in our business that may not otherwise be apparent when relying solely on GAAP measures and because it eliminates items that have less bearing on our operating performance. EBITDA and Adjusted EBITDA are not measures calculated in accordance with GAAP, and they should not be considered a substitute for net income or any other measure of financial performance presented in accordance with GAAP. Additionally, other companies may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure.
- Adjusted EBITDA attributable to SXC represents Adjusted EBITDA less Adjusted EBITDA attributable to noncontrolling interests.
FORWARD-LOOKING STATEMENTS
This press release and related conference call contain "forward-looking statements" (as defined in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended). Such forward-looking statements include statements that are not strictly historical facts, and include, among other things, statements regarding: our expectations of financial results, condition and outlook; anticipated effects of the COVID-19 pandemic and responses thereto.
Forward-looking statements often may be identified by the use of such words as "believe," "expect," "plan," "project," "intend," "anticipate," "estimate," "predict," "potential," "continue," "may," "will," "should," or the negative of these terms, or similar expressions. Forward-looking statements are inherently uncertain and involve significant known and unknown risks and uncertainties (many of which are beyond the control of SunCoke) that could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to domestic and international economic, political, business, operational, competitive, regulatory and/or market factors affecting SunCoke, as well as uncertainties related to: pending or future litigation, legislation or regulatory actions; liability for remedial actions or assessments under existing or future environmental regulations; gains and losses related to acquisition, disposition or impairment of assets; recapitalization; access to, and costs of, capital; the effects of changes in accounting rules applicable to SunCoke; and changes in tax, environmental and other laws and regulations applicable to SunCoke's businesses.
Currently, such risks and uncertainties also include the impacts on our industry and on the U.S. and global economy resulting from COVID-19, including actions by domestic and foreign governments and others to contain the spread, or mitigate the severity, thereof.
Forward-looking statements are not guarantees of future performance, but are based upon the current knowledge, beliefs and expectations of SunCoke management, and upon assumptions by SunCoke concerning future conditions, any or all of which ultimately may prove to be inaccurate. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of the earnings release. SunCoke does not intend, and expressly disclaims any obligation, to update or alter its forward-looking statements (or associated cautionary language), whether as a result of new information, future events or otherwise after the date of the earnings release except as required by applicable law.
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, SunCoke has included in its filings with the Securities and Exchange Commission cautionary language identifying important factors (but not necessarily all the important factors) that could cause actual results to differ materially from those expressed in any forward-looking statement made by SunCoke. For information concerning these factors and other important information regarding the matters discussed in this press release, see SunCoke's Securities and Exchange Commission filings such as its annual and quarterly reports and current reports on Form 8-K, copies of which are available free of charge on SunCoke's website at www.suncoke.com. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Unpredictable or unknown factors not discussed in this press release also could have material adverse effects on forward-looking statements.
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SOURCE SunCoke Energy, Inc. | https://www.whsv.com/prnewswire/2022/05/02/suncoke-energy-inc-reports-record-first-quarter-2022-results/ | 2022-05-02T11:52:58Z |
WALTHAM, Mass., May 2, 2022 /PRNewswire/ -- Syndax Pharmaceuticals, Inc. ("Syndax," the "Company" or "we") (Nasdaq: SNDX), a clinical-stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that it will release its first quarter 2022 financial results on Monday, May 9, after the close of the U.S. financial markets.
In connection with the earnings release, Syndax's management team will host a conference call and live audio webcast at 4:30 p.m. ET on Monday, May 9, to discuss the Company's financial results and provide a general business update.
The live audio webcast and accompanying slides may be accessed through the Events & Presentations page in the Investors section of the Company's website at www.syndax.com. Alternatively, the conference call may be accessed through the following:
Conference ID: 1394554
Domestic Dial-in Number: (855) 251-6663
International Dial-in Number: (281) 542-4259
Live webcast: https://edge.media-server.com/mmc/p/49kx4w4n
For those unable to participate in the conference call or webcast, a replay will be available on the Investors section of the Company's website, www.syndax.com.
About Syndax Pharmaceuticals, Inc.
Syndax Pharmaceuticals is a clinical stage biopharmaceutical company developing an innovative pipeline of cancer therapies. The Company's pipeline includes SNDX-5613, a highly selective inhibitor of the Menin–MLL binding interaction, axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1 (CSF-1) receptor, and entinostat, a class I HDAC inhibitor. For more information, please visit www.syndax.com or follow the Company on Twitter and LinkedIn.
Syndax Contacts
Investor Contact
Melissa Forst
Argot Partners
melissa@argotpartners.com
Tel 212.600.1902
Media Contact
Benjamin Kolinski
benjamin.kolinski@gcihealth.com
Tel 862.368.4464
SNDX-G
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SOURCE Syndax Pharmaceuticals, Inc. | https://www.whsv.com/prnewswire/2022/05/02/syndax-announce-first-quarter-2022-financial-results-host-conference-call-webcast-may-9-2022/ | 2022-05-02T11:53:05Z |
TORONTO, May 2, 2022 /PRNewswire/ - Talisker Resources Ltd. ("Talisker" or the "Company") (TSX: TSK) (OTCQX: TSKFF) is pleased to provide a detailed update on progress on the development of its maiden resource at its 100% owned flagship Bralorne Gold Project. As part of the update the Company has prepared a series of detailed long sections of each vein showing drill hole pierce points along the veins.
- Eleven veins are expected to form the basis of the upcoming resource, six from the Bralorne area, two from King and three from the Pioneer area
- Weighted average grades for the veins range from 6.2 g/t to 16.6 g/t with an overall average of 9.6 g/t
- Average vein widths range from 1.1m to 2.1m with an average of 1.6m
- All defined veins are located from the surface to a depth of 700m
- Defined veins are extensions of known veins and are mostly located within the gaps between the historic mines
The table below summarizes veins defined by the active drill program with average strike length and plunge length, average vein thickness and grade. The 11 figures attached are long sections of each vein, showing target panels, composite grade and intercept width, completed and planned drill hole pierce points colour coded by gold gram metres and the drill hole name. All reported drill assay results are available on the Company's website at the following link: https://taliskerresources.com/bralorne-gold-project-released-drill-results/.
Dr. Terry Harbort, President and CEO of Talisker, commented, "We are very pleased with the progress of the resource highlighted by the 55HW and 77 veins which returned weighted average grades of 15.2 g/t and 16.6 g/t gold, respectively. We are particularly encouraged by the increased average width of our drilled veins when compared to the historically known averages. The strike and plunge dimensions of the veins defined by our drilling strongly confirm the historically demonstrated structural continuity of the host structures. As a fully permitted high grade project in a Tier 1 jurisdiction, we look forward to the completion of our drill program and finalizing our maiden resource."
Multiple other veins have been intersected during the drill program however the Company has not yet confirmed if these veins will have a sufficient number of pierce points or sufficient pierce point spacing to be included in the upcoming maiden resource statement. The Company notes that the weighted average grades may not reflect the final resource grade and are included as a guide to shareholders only. Vein widths are drill hole intercept widths and are estimated to represent 80 to 90% of the true vein width.
Talisker is providing an opportunity for shareholders and other interested parties to participate in a Webinar to be held at 2 pm ET on Monday, May 9th. To register, please click on the following link – https://us02web.zoom.us/j/83249101625?pwd=NDM2bElUOGoxampWbE00cTRXNUhsZz09.
The technical information contained in this news release relating to the drill results at the Bralorne Gold Project has been approved by Leonardo de Souza (BSc, AusIMM (CP) Membership 224827), Talisker's Vice President, Exploration and Resource Development, who is a "qualified person" within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Talisker (taliskerresources.com) is a junior resource company involved in the exploration of gold projects in British Columbia, Canada. Talisker's projects include two advanced stage projects, the Bralorne Gold Complex and the Ladner Gold Project, both advanced stage projects with significant exploration potential from historical high-grade producing gold mines, as well as its Spences Bridge Project where the Company holds ~85% of the emerging Spences Bridge Gold Belt and several other early-stage Greenfields projects. With its properties comprising 299,789 hectares over 484 claims, three leases and 197 crown grant claims, Talisker is a dominant exploration player in the south-central British Columbia. The Company is well funded to advance its aggressive systematic exploration program at its projects.
Drill core at the Bralorne Gold Project is drilled in HQ to NQ size ranges (63.5mm and 47.6mm, respectively). Drill core samples are a minimum of 50 cm and a maximum of 160 cm long along the core axis. Samples are focused on an interval of interest, such as a vein or zone of mineralization. Shoulder samples bracket the interval of interest such that a total sampled core length of not less than 3m both above and below the interval of interest must be assigned. Sample QAQC measures of unmarked certified reference materials (CRMs), blanks, and duplicates are inserted into the sample sequence and makeup 9% of the samples submitted to the lab for holes reported in this release. ALS Global performs sample preparation and analyses in North Vancouver, British Columbia, Canada and SGS Canada in Burnaby, British Columbia, Canada. Drill core sample preparation includes drying in an oven at a maximum temperature of 60°C, fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 g split to at least 85% passing 75 microns (ALS code PREP-31 / SGS code PRP89). Gold in diamond drill core is analyzed by fire assay and atomic absorption spectroscopy (AAS) of a 50g sample (ALS code Au-AA26 / SGS code GO_FAA50V10), while multi-element chemistry is analyzed by 4- Acid digestion of a 0.25 g sample split with detection by inductively coupled plasma mass spectrometer (ICP-MS) for 48 elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr). Gold assay technique (ALS code Au-AA26 / SGS code FAA50V10) has an upper detection limit of 100 ppm. Any sample that produces an over-limit gold value via the gold assay technique is sent for gravimetric finish (ALS method Au-GRA22 / SGS method GO_FAG50V) which has an upper detection limit of 1,000 ppm Au. Samples where visible gold was observed are sent directly to screen metallics analysis and all samples that fire assay above 1 ppm Au are re-analysed with method (ALS code Au-SCR24 / SGS code - 6 - GO_FAS50M) which employs a 1kg pulp screened to 100 microns with assay of the entire oversize fraction and duplicate 50g assays on the undersize fraction. Where possible all samples initially sent to screen metallics processing will also be re-run through the fire assay with gravimetric finish provided there is enough material left for further processing.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Talisker's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the Company's plans and future intentions with respect to its investment in TDG and exercise of its board nomination rights. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Talisker. Although such statements are based on reasonable assumptions of Talisker's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental risks and risks relating to the failure to receive all requisite shareholder and regulatory approvals.
The forward-looking information contained in this release is made as of the date hereof, and Talisker is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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SOURCE Talisker Resources Ltd | https://www.whsv.com/prnewswire/2022/05/02/talisker-provides-progress-update-bralorne-gold-project-maiden-resource/ | 2022-05-02T11:53:11Z |
THE WOODLANDS, Texas, April 29, 2022 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), North America's largest provider of vertically integrated modular accommodations and value-added hospitality services, today announced that it will present at Oppenheimer's 17th Annual Industrial Growth Conference on Tuesday, May 3, 2022, at 12:45 pm Eastern Time (11:45 am Central Time).
The event will be broadcast live via webcast. A link to the webcast will be available through the Investors section of Target Hospitality's website at www.TargetHospitality.com.
A replay of the presentation will be available through the Investors section of Target Hospitality's website for a limited time.
Target Hospitality is North America's largest provider of vertically integrated modular accommodations and value-added hospitality services in the United States. Target builds, owns and operates a customized and growing network of communities for a range of end users through a full suite of value-added solutions including premium food service management, concierge, laundry, logistics, security and recreational facilities services.
Investor Contact
Mark Schuck
(832) 702 – 8009
ir@targethospitality.com
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SOURCE Target Hospitality | https://www.whsv.com/prnewswire/2022/05/02/target-hospitality-present-oppenheimers-17th-annual-industrial-growth-conference/ | 2022-05-02T11:53:19Z |
Published: May. 2, 2022 at 6:51 AM EDT|Updated: 1 hour ago
Record sales of $1.125 billion, up approximately 10 percent from last year
Record first-quarter earnings per diluted share of $1.56 on a GAAP basis, with all-time record quarterly adjusted EPS of $1.61
Repurchased 1.5 million shares during the quarter
Maintains earnings outlook; expects 2022 GAAP earnings per diluted share of $4.85-5.25, with adjusted EPS of $5.00-5.40
NORTH CANTON, Ohio, May 2, 2022 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global industrial leader in engineered bearings and power transmission products, today reported record first-quarter 2022 sales of $1.125 billion, up 9.7 percent from the same period a year ago. The increase was primarily driven by growth across most end-market sectors led by industrial distribution and off-highway, and the impact of higher pricing, partially offset by unfavorable currency.
Timken posted net income in the first quarter of $118.2 million or a record $1.56 per diluted share. This compares to net income of $113.3 million or $1.47 per diluted share for the same period a year ago. The increase in GAAP net income was primarily driven by the impact of higher volume and favorable price/mix, partially offset by higher operating costs and the net unfavorable impact of special items (detailed in the attached tables), as compared to the year-ago period.
Excluding special items, adjusted net income in the first quarter was $121.7 million or $1.61 per diluted share, a record for any quarter. This compares to adjusted net income of $106.7 million or $1.38 per diluted share for the same period in 2021.
During the quarter, Timken returned $123.5 million of cash to shareholders with the repurchase of 1.5 million shares of company stock, or approximately 2 percent of outstanding shares, and the payment of its 399th consecutive quarterly dividend. The company ended the first quarter with net debt to adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) at 1.8 times. Also, among recent developments, the company announced an agreement to acquire Spinea, a technology leader and manufacturer of highly engineered cycloidal reduction gears and actuators, which strengthens Timken's position in the high-growth robotics and automation space.
"We had an excellent start to the year, reporting record revenue and earnings with strong margin performance," said Richard G. Kyle, Timken president and chief executive officer. "Our first-quarter results reflect higher customer demand for our differentiated products along with the benefit of recent pricing actions. In addition, our team delivered better operating performance in the quarter, as we improved execution and customer service despite continued challenges across our global supply chain. Our performance demonstrates the resiliency of the company and builds on our track record of delivering strong financial results through industrial cycles and dynamic market conditions."
First-Quarter 2022 Segment Results
Process Industries sales of $584.2 million increased 12.2 percent from the same period a year ago. The increase was driven primarily by growth across most sectors led by distribution and general industrial, and the impact of higher pricing, partially offset by lower revenue in the renewable energy sector and unfavorable currency.
EBITDA for the quarter was $155.6 million or 26.6 percent of sales, compared with EBITDA of $131 million or 25.1 percent of sales for the same period a year ago. The increase in EBITDA was driven primarily by the favorable impact of higher volume and price/mix, partially offset by higher operating costs.
Excluding special items (detailed in the attached tables), adjusted EBITDA in the quarter was $158.1 million or 27.1 percent of sales, compared with $135.7 million or 26.0 percent of sales in the first quarter last year.
Mobile Industries sales of $540.4 million increased 7.1 percent compared with the same period a year ago. The increase was driven primarily by higher shipments in the off-highway and rail sectors, and the impact of higher pricing, partially offset by unfavorable currency.
EBITDA for the quarter was $75.1 million or 13.9 percent of sales, compared with EBITDA of $79.6 million or 15.8 percent of sales for the same period a year ago. The decline in EBITDA reflects the impact of significantly higher operating costs and Russia-related charges (described in the attached tables), partially offset by positive price/mix and the favorable impact of higher volume.
Excluding special items (detailed in the attached tables), adjusted EBITDA in the quarter was $79.2 million or 14.7 percent of sales, compared with $80.1 million or 15.9 percent of sales in the first quarter last year.
2022 Outlook
Timken is maintaining its 2022 earnings outlook, with full-year earnings per diluted share in the range of $4.85 to $5.25 on a GAAP basis and adjusted earnings per diluted share in the range of $5.00 to $5.40. The company has modestly adjusted its revenue outlook and now anticipates 2022 revenue to be up approximately 8 percent at the midpoint in total versus 2021, which reflects the impact from suspending operations in Russia as well as an updated estimate for unfavorable currency translation.
"We expect to deliver strong performance with double-digit earnings growth in 2022 driven by robust demand for our products, improved operational execution and price realization," said Kyle. "The diversity of our product portfolio and market mix position us well to continue capitalizing on strong industrial market demand. And we expect to deliver another record year while further increasing our industrial leadership position by advancing our strategic growth and capital allocation initiatives."
Conference Call Information
Timken will host a conference call today at 10 a.m. Eastern Time to review its financial results. Presentation materials will be available online in advance of the call for interested investors and securities analysts.
Certain statements in this release (including statements regarding the company's forecasts, estimates, plans and expectations) that are not historical in nature are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, the statements related to expectations regarding the company's future financial performance, including information under the heading "2022 Outlook," are forward-looking.
The company cautions that actual results may differ materially from those projected or implied in forward-looking statements due to a variety of important factors, including: the finalization of the company's financial statements for the first quarter of 2022; the company's ability to respond to the changes in its end markets that could affect demand for the company's products or services; unanticipated changes in business relationships with customers or their purchases from the company; changes in the financial health of the company's customers, which may have an impact on the company's revenues, earnings and impairment charges; fluctuations in material and energy costs; logistical issues associated with port closures or congestion, delays or increased costs; the impact of changes to the company's accounting methods; political risks associated with government instability; recent world events that have increased the risks posed by international trade disputes, tariffs and sanctions; weakness in global or regional economic conditions and capital markets; the impact of inflation on employee expenses, shipping costs, raw material costs, energy and fuel prices, and other production costs; the company's ability to satisfy its obligations under its debt agreements and renew or refinance borrowings on favorable terms; fluctuations in currency valuations; changes in the expected costs associated with product warranty claims; the ability to achieve satisfactory operating results in the integration of acquired companies, including realizing any accretion, synergies, and expected cashflow generation within expected timeframes or at all; the impact on operations of general economic conditions; fluctuations in customer demand; the impact on the company's pension obligations and assets due to changes in interest rates, investment performance and other tactics designed to reduce risk; the introduction of new disruptive technologies; unplanned plant shutdowns; the effects of government-imposed restrictions and commercial requirements meant to address climate change; unanticipated litigation, claims, investigations or assessments; the company's ability to maintain positive relations with unions and works councils; the company's ability to compete for skilled labor; negative impacts to the company's business, results of operations, financial position or liquidity as a result of COVID-19 or other epidemics and associated governmental measures such as restrictions on travel and manufacturing operations; and the company's ability to complete and achieve the benefits of announced plans, programs, initiatives, acquisitions and capital investments. Additional factors are discussed in the company's filings with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended Dec. 31, 2021, quarterly reports on Form 10-Q and current reports on Form 8-K. Except as required by the federal securities laws, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc. | https://www.whsv.com/prnewswire/2022/05/02/timken-reports-record-first-quarter-2022-results/ | 2022-05-02T11:53:25Z |
– First Quarter 2022 Financial Results Conference Call on Tuesday, May 10, 2022, at 8:30 a.m. ET –
VANCOUVER, BC, May 2, 2022 /PRNewswire/ - Village Farms International, Inc. ("Village Farms" or the "Company") (NASDAQ: VFF) today announced it will host a conference call to discuss its first quarter financial results on Tuesday, May 10, 2022, at 8:30 a.m. ET. Participants can access the conference call by telephone by dialing (416) 764-8659 or (888) 664-6392, or via the Internet at: https://bit.ly/3LwGlTM.
The live question and answer session will be limited to analysts; however, others are invited to submit their questions ahead of the conference call via email at investorrelations@villagefarms.com. Management will address questions received via email as part of the conference call question and answer session as time permits.
The Company expects to report its first quarter 2022 financial results via news release on Tuesday, May 10, 2022, at 7:00 a.m. ET.
Conference Call Archive Access Information
For those unable to participate in the conference call at the scheduled time, it will be archived for replay both by telephone and via the Internet beginning approximately one hour following completion of the call. To access the archived conference call by telephone, dial (416) 764-8677 or (888) 390-0541 and enter the passcode 334813 followed by the pound (#) key. The telephone replay will be available until Tuesday, May 17, 2022 at midnight (ET). The conference call will also be available on Village Farms' web site at http://villagefarms.com/investor-relations/investor-calls.
About Village Farms International, Inc.
Village Farms leverages decades of experience as a large-scale, Controlled Environment Agriculture-based, vertically integrated supplier for high-value, high-growth plant-based Consumer Packaged Goods opportunities, with a strong foundation as a leading fresh produce supplier to grocery and large-format retailers throughout the US and Canada, and new high-growth opportunities in the cannabis and CBD categories in North America and selected markets internationally.
In Canada, the Company's wholly-owned Canadian subsidiary, Pure Sunfarms, is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer and one of Canada's best-selling brands. The Company also owns 70% of Québec-based, Rose LifeScience, a leading third-party cannabis products commercialization expert in the Province of Québec.
In the US, wholly-owned Balanced Health Botanicals is one of the leading CBD brands and e-commerce platforms in the country. Subject to compliance with all applicable US federal and state laws and stock exchange rules, Village Farms plans to enter the US high-THC cannabis market via multiple strategies, leveraging one of the largest greenhouse operations in the country (more than 5.5 million square feet in West Texas), as well as the operational and product expertise gained through Pure Sunfarms' cannabis success in Canada.
Internationally, Village Farms is targeting selected, nascent, legal cannabis and CBD opportunities with significant medium- and long-term potential, with an initial focus on the Asia-Pacific region and Europe.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and is subject to the safe harbor created by those sections. This press release also contains "forward-looking information" within the meaning of applicable Canadian securities law. We refer to such forward-looking statements and forward-looking information collectively as "forward-looking statements". Forward-looking statements include statements regarding the Company's delisting from the TSX and anticipated benefits therefrom, and may also relate to the Company's future outlook or financial position and anticipated events or results and may include statements regarding the financial position, business strategy, budgets, expansion plans, litigation, projected production, projected costs, capital expenditures, financial results, taxes, plans and objectives of or involving the Company. Particularly, statements regarding the anticipated benefits of delisting from the TSX as well as future results, performance, achievements, prospects or opportunities for the Company, the greenhouse vegetable industry or the cannabis industry are forward-looking statements. In some cases, forward-looking information can be identified by such terms as "can", "outlook", "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "try", "estimate", "predict", "potential", "continue", "likely", "schedule", "objectives", or the negative or grammatical variation thereof or other similar expressions concerning matters that are not historical facts. The forward-looking statements in this press release are subject to risks that may include, but are not limited to: our operating history, including that of ROSE Lifescience ("ROSE"), Balanced Health Botanicals ("Balanced Health"), Pure Sunfarms and our start-up operations of growing hemp in the United States; the legal status of Pure Sunfarms, ROSE and Balanced Health cannabis business; risks relating to the integration of ROSE into our business; risks relating to obtaining additional financing, including our dependence upon credit facilities; potential difficulties in achieving and/or maintaining profitability; variability of product pricing; risks inherent in the cannabis, hemp, CBD, cannabinoids, and agricultural businesses; market position, ability to leverage current business relationships for future business involving hemp and cannabinoids, the ability of Pure Sunfarms and ROSE to cultivate and distribute cannabis in Canada; existing and new governmental regulations, including risks related to regulatory compliance and regarding obtaining and maintaining licenses required under the Cannabis Act (Canada), the Criminal Code and other Acts, S.C. 2018, c. 16 (Canada) for its Canadian operational facilities), and changes in our regulatory requirements; legal and operational risks relating to expected conversion of our greenhouses to cannabis production in Canada and in the United States; risks related to rules and regulations at the US federal (Food and Drug Administration and United States Department of Agriculture), state and municipal levels with respect to produce and hemp, cannabidiol-based products commercialization; retail consolidation, technological advances and other forms of competition; transportation disruptions; product liability and other potential litigation; retention of key executives; labor issues; uninsured and underinsured losses; vulnerability to rising energy costs; environmental, health and safety risks, foreign exchange exposure, risks associated with cross-border trade; difficulties in managing our growth; restrictive covenants under our credit facilities; natural catastrophes; the ongoing and developing COVID-19 pandemic; and tax risks.
The Company has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. Although the forward-looking statements contained in this press release are based upon assumptions that management believes are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the Company's control, that may cause the Company's or the industry's actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the factors contained in the Company's filings with securities regulators, including this press release. In particular, we caution you that our forward-looking statements are subject to the ongoing and developing circumstances related to the COVID-19 pandemic, which may have a material adverse effect on our business, operations and future financial results.
When relying on forward-looking statements to make decisions, the Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future results, performance, achievements, prospects and opportunities. The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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MILWAUKEE, May 2, 2022 /PRNewswire/ -- WEC Energy Group (NYSE: WEC) today reported net income of $565.9 million, or $1.79 per share, for the first quarter of 2022 — up from $510.1 million, or $1.61 per share, for last year's first quarter.
Consolidated revenues totaled $2.9 billion, up $216.7 million from the first quarter a year ago.
"A colder than normal winter, a strong economy and the performance of our infrastructure segment were the major factors driving our first-quarter results," said Gale Klappa, executive chairman. "The year is off to a solid start as we continue to focus on the fundamentals of our business."
For the quarter, natural gas deliveries in Wisconsin — excluding natural gas used for power generation — rose by 9.3 percent compared to the first quarter of 2021. On a weather-normal basis, natural gas deliveries were 3.6 percent higher.
Retail deliveries of electricity — excluding the iron ore mine in Michigan's Upper Peninsula — increased by 2.2 percent in the first quarter of 2022 compared to the first quarter last year.
Residential electricity use rose by 1.3 percent.
Electricity consumption by small commercial and industrial customers was 3.8 percent higher. Electricity use by large commercial and industrial customers — excluding the iron ore mine — rose by 1.4 percent.
On a weather-normal basis, retail deliveries of electricity — excluding the iron ore mine — grew by 0.7 percent.
In light of its strong performance, the company is raising its earnings guidance for 2022, to a range of $4.34 to $4.38 per share, with an expectation of reaching the top end of the new range. This assumes normal weather for the remainder of the year. The company had previously announced earnings guidance for 2022 in a range of $4.29 to $4.33 per share.
Earnings per share listed in this news release are on a fully diluted basis.
A conference call is scheduled for 1 p.m. Central time, Monday, May 2. The call will review 2022 first-quarter earnings and the company's outlook for the future.
All interested parties, including stockholders, news media and the general public, are invited to listen. Access the call at 833-968-2232 up to 15 minutes before it begins. The number for international callers is 825-312-2063. The conference ID is 9378353.
Conference call access also is available at wecenergygroup.com. Under 'Webcasts,' select 'Q1 Earnings.' In conjunction with this earnings announcement, WEC Energy Group will post on its website a package of detailed financial information on its first-quarter performance. The materials will be available at 6:30 a.m. Central time, Monday, May 2.
A replay will be available on the website and by phone. Access to the webcast replay will be available on the website about two hours after the call. Access to a phone replay also will be available approximately two hours after the call and remain accessible through May 16, 2022. Domestic callers should dial 800-585-8367. International callers should dial 416-621-4642. The replay conference ID is 9378353.
WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving 4.6 million customers in Wisconsin, Illinois, Michigan and Minnesota.
The company's principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy. Resources. Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a growing fleet of renewable generation facilities in the Midwest.
WEC Energy Group (wecenergygroup.com) is a Fortune 500 company and a component of the S&P 500. The company has 38,000 stockholders of record, 7,000 employees and $39 billion of assets.
Certain statements contained in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based upon management's current expectations and are subject to risks and uncertainties that could cause our actual results to differ materially from those contemplated in the statements. Readers are cautioned not to place undue reliance on these statements. Forward-looking statements include, among other things, statements concerning management's expectations and projections regarding earnings and future results. In some cases, forward-looking statements may be identified by reference to a future period or periods or by the use of forward- looking terminology such as "anticipates," "believes," "estimates," "expects," "forecasts," "guidance," "intends," "may," "objectives," "plans," "possible," "potential," "projects," "should," "targets," "will" or similar terms or variations of these terms. Factors that could cause actual results to differ materially from those contemplated in any forward- looking statements include, but are not limited to: general economic conditions, including business and competitive conditions in the company's service territories; the extent, duration and impact of the COVID-19 pandemic or any future health pandemics; timing, resolution and impact of rate cases and other regulatory decisions; the company's ability to continue to successfully integrate the operations of its subsidiaries; availability of the company's generating facilities and/or distribution systems; unanticipated changes in fuel and purchased power costs; key personnel changes; varying weather conditions; continued industry restructuring and consolidation; continued advances in, and adoption of, new technologies that produce power or reduce power consumption; energy and environmental conservation efforts; the company's ability to successfully acquire and/or dispose of assets and projects and to execute on its capital plan; cyber-security threats and data security breaches; construction risks; equity and bond market fluctuations; changes in the company's and its subsidiaries' ability to access the capital markets; changes in tax legislation or our ability to use certain tax benefits and carryforwards; federal and state legislative and regulatory changes, including changes to environmental standards, the enforcement of these laws and regulations and changes in the interpretation of regulations by regulatory agencies; supply chain disruptions; inflation; political developments; current and future litigation and regulatory investigations, proceedings or inquiries; changes in accounting standards; the financial performance of American Transmission Company as well as projects in which the company's energy infrastructure business invests; the ability of the company to obtain additional generating capacity at competitive prices; goodwill and its possible impairment; and other factors described under the heading "Factors Affecting Results, Liquidity and Capital Resources" in Management's Discussion and Analysis of Financial Condition and Results of Operations and under the headings "Cautionary Statement Regarding Forward-Looking Information" and "Risk Factors" contained in the company's Form 10-K for the year ended December 31, 2021, and in subsequent reports filed with the Securities and Exchange Commission. Except as may be required by law, the company expressly disclaims any obligation to publicly update or revise any forward-looking information.
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Wendy's new hot coffee available for FREE for a limited time
BURLINGTON, Ontario, May 2, 2022 /PRNewswire/ -- Today is the day morning routines change forever with Wendy's® craveable breakfast menu launching nationwide in Canada, served from 6:30 a.m. to 10:30 a.m.* To celebrate the launch, Wendy's is giving customers one less reason to hit snooze with a FREE hot cup of their soon-to-be favourite coffee all day long at participating locations through May 29.** Customers will not want to miss out because for the first time ever, Wendy's is serving a new signature medium-roast coffee blend uniquely crafted for Canadian customers.
"Canadians deserve a better breakfast," said Liz Geraghty, Chief Marketing Officer, International, The Wendy's Company. "From fresh, never frozen Canadian beef to freshly cracked Canadian grade A eggs, our focus at Wendy's is always on the quality of the food we serve, and customers will taste our commitment to freshly prepared, high-quality ingredients across our entire breakfast menu."
Wendy's selection of irresistible, bold new morning menu items pay homage to Wendy's fan favourites, including:
- Breakfast Baconator®: A grilled square sausage patty paired with two slices of cheese, six strips of crispy oven-baked Applewood smoked bacon that are freshly-cooked in every restaurant every day, a fresh-cracked Canadian grade A egg, all covered in a warm Swiss cheese hollandaise style sauce on a premium toasted bun. You won't be asking, "where's the bacon?" after tasting this breakfast sandwich.
- Sausage or Bacon, Egg & Swiss Croissant: Freshly cracked Canadian grade A egg with your choice of a grilled square sausage patty or oven-baked Applewood smoked bacon covered in savoury Swiss cheese sauce on a croissant. Our butter croissants feature 120 flakey layers so good that Canadians will never flake on breakfast again.
- Frosty-ccino: Wendy's Frosty-ccino combines cold brew coffee with your favourite legendary chocolate or vanilla Frosty® flavour featuring Canadian dairy, served over ice. Available all day, this is a perfect pick-me-up to start your morning or energize your afternoon.
- Seasoned Potatoes: Say goodbye to greasy hashbrowns with these seasoned potato wedges featuring a blend of spices, served crispy and piping hot every morning.
Wendy's continues to make it easy for fans to order freshly prepared, craveable food via Wendy's mobile app, with deals and offers at your fingertips. When you use the Wendy's app you're always first in line. Who says breakfast can't be delivered? If breakfast in bed is more your thing, providers including SkipTheDishes and Uber Eats deliver hot, ready-to-eat breakfast to fans every day.
To browse the menu or find a restaurant near you, visit order.wendys.com/location.
About Wendy's
Wendy's was founded in 1969 by Dave Thomas in Columbus, Ohio, U.S.A. Dave built his business on the premise, "Quality is our Recipe®," which remains the guidepost of the Wendy's system. The first Wendy's restaurant in Canada opened in 1975 and the brand is best known for its made-to-order square hamburgers, using fresh, never frozen Canadian beef***, freshly prepared salads and other signature items like chili, baked potatoes and the Frosty dessert. The Wendy's Company (Nasdaq: WEN) is committed to doing the right thing and making a positive difference in the lives of others. This is most visible through the Company's support of the Dave Thomas Foundation for Adoption Canada™ and its signature Wendy's Wonderful Kids™ in Canada program, which seeks to find a loving, forever home for every child waiting to be adopted from the North American foster care system. Today, Wendy's and its franchisees employ hundreds of thousands of people across approximately 7,000 restaurants worldwide with a vision of becoming the world's most thriving and beloved restaurant brand. For details on franchising, connect with us at www.wendys.com/franchising.
Visit www.wendys.ca and www.squaredealblog.com for more information and connect with us on Twitter and Instagram using @wendyscanada, and on Facebook at www.facebook.com/WendysCanada.
*Hours and participation may vary by location.
**No purchase necessary. Limit one offer per person.
***Fresh beef available in the contiguous U.S., Alaska and Canada.
Contact: MediaRelations@wendys.com
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VANCOUVER, BC, May 2, 2022 /PRNewswire/ - YourWay Cannabis Brands Inc. (CSE: YOUR) (the "Company") announced today that, due to a combination of factors, including (i) the complexity associated with a change of the Company's auditors which took effect on December 6, 2021; and (ii) changes in the personnel of the Company requiring additional time to support the auditors, the filing of its audited annual financial statements for the year ended December 31, 2021, the related management's discussion and analysis and CEO and CFO certifications (collectively, the "Annual Filings") will not be completed by the prescribed deadline of May 2, 2022 (the "Filing Deadline").
As disclosed in the Company's news release on April 29, 2022, the Company applied to the British Columbia Securities Commission (the "BCSC") for the issuance of a management cease trade order in connection with the Company's anticipated delay in filing the Annual Filings. This application was rejected and as such, the Company expects that a failure to file cease trade order pursuant to National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions (a "CTO") will be imposed against the Company shortly after the Filing Deadline, which will prohibit the trading by any person of any securities of the Company in Canada, including trades in the Company's common shares made through the Canadian Securities Exchange. Once issued, the CTO will remain in place until such time as the Annual Filings are filed by the Company, currently expected before May 31, 2022.
The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed.
YourWay is a publicly traded, multi-state and consumer-centric House of Brands committed to redefining the way consumers and cannabis brands interact, with sales and operations in Arizona and California. Through building their own brands, partnering with others, and supporting retail partners house brand strategy, they are dedicated to expanding their reach; remolding the cannabis industry and ultimately, redefining the way consumers and cannabis brands interact.
YourWay aims to connect with the cannabis consumer on a deeper level, utilizing decades of brand-building expertise and an integral understanding of the customer experience to create an intuitive suite of branded products that closely aligns with consumer need states. The YourWay portfolio is an all-encompassing house of brands designed to create a sense of belonging for every cannabis consumer regardless of their relationship with the plant. Please visit www.yourwaycannabis.com or follow on Twitter at @yourwaycannabis for the latest news and information about YourWay and its brands.
Website: www.yourwaycannabis.com
This news release includes certain "forward-looking information" as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the Annual Filings, including the anticipated delay in filing the Annual Filings, the timing to complete the Company's audit, the ability of the Company to file the Annual Filings by the timelines set out in this news release, the issuance and duration of a CTO imposed against the Company, and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.
Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the Company may not complete its audit and file the Annual Filings as currently anticipated, or at all; the Company will be subject to a general cease trade order in the event that the Annual Filings are not completed and filed; regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; compliance with extensive government regulation; public opinion and perception of the cannabis industry; the impact of COVID-19; and the risk factors set out in the Company's annual information form dated August 28, 2020, filed with Canadian securities regulators and available on the Company's profile on SEDAR at www.sedar.com.
The Company, through several of its subsidiaries, is indirectly involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where the Company operates permit such activities however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable United States federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward nonenforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under United States federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company's operations and financial performance.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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– Second grants from GlycoNet and Mitacs will support ZT-01's advancement to the clinic for the treatment of insulin-induced hypoglycemia in people with Type 2 diabetes –
TORONTO, May 2, 2022 /PRNewswire/ - Zucara Therapeutics Inc., a diabetes life sciences company developing the first once-daily therapeutic to prevent insulin-induced hypoglycemia (low blood glucose levels), today announced that it has received second grants from each of GlycoNet and Mitacs to support the development of ZT-01 for the treatment of insulin-induced hypoglycemia in people with Type 2 diabetes ("T2D").
"We are grateful for GlycoNet's and Mitacs's continued support in the development of ZT-01 for T2D, which provides the opportunity to address insulin-induced hypoglycemia in a much larger patient population," said Dr. Michael Riddell, Professor at York University's School of Kinesiology and Health Sciences, and Chair of Zucara Therapeutics' Clinical Advisory Board. "GlycoNet's and Mitacs's first grants, announced in July 2019 and November 2020, respectively, enabled us to extend our preclinical model of hypoglycemia in Type 1 diabetes to T2D and progress the program to where it is today. These second grants further support our preclinical efficacy studies which, if successful, will enable us to advance ZT-01 into clinical development in the T2D indication."
ZT-01 is currently in a Phase 1b proof-of-concept trial assessing the pharmacodynamics of treatment of insulin-induced hypoglycemia in people with Type 1 diabetes, with results anticipated in Q2 2022.
Elizabeth Nanak, CEO, GlycoNet, commented, "We are pleased to support Zucara's development of a treatment to improve the life of people with T2D, in hopes that it could become the first therapeutic to prevent hypoglycemic episodes before they occur. GlycoNet is proud to work with companies like Zucara to translate innovative glycomics research into solutions to pressing health issues, right here in Canada."
On April 20, 2022, GlycoNet and its partners announced a total of $7.7 million in funding to 13 glycomics projects across Canada. More information on the project, entitled "Elucidating the role of somatostatin in dysglycemia in a rodent model of type 2 diabetes," can be found here. The project was granted nearly $150,000, which Zucara will more than double match to fund its preclinical efficacy study of ZT-01 for T2D.
Mitacs has awarded Zucara and York University a $60,000 Accelerate Fellowship grant, which will fund the work of PhD student Ninoschka D'Souza on Zucara's preclinical efficacy studies.
GlycoNet is advancing research, innovation and training in glycomics to improve the quality of life of Canadians. GlycoNet is a one-stop global destination focused on developing new carbohydrate-based drugs, vaccines and diagnostics, in collaboration with academic and industry organizations to address areas of unmet need through applied glycomics research. Funded by the federal Networks of Centres of Excellence (NCE) program and a range of partners, the network includes over 175 researchers across Canada who focus on cancer, chronic diseases, infectious diseases and neurodegenerative diseases. This national platform supports translational research, protection of intellectual property, novel drug development, company formation and training. Learn more about us at glyconet.ca.
Mitacs is a not-for-profit organization that fosters growth and innovation in Canada. As a catalyzing force in the Canadian innovation ecosystem, we build a world-class, diverse community of innovators through our collaborative model, attracting and deploying top talent to industry, and matching need with expertise to create ambitious solutions to real-world challenges. To learn more about how Mitacs can help unleash your innovation potential, visit mitacs.ca
Zucara Therapeutics is developing ZT-01, a first-in-class therapeutic to prevent insulin-induced hypoglycemia in patients using insulin therapy. ZT-01 is designed to inhibit somatostatin, a pancreatic hormone that impairs the glucagon response to hypoglycemia in people with insulin-dependent diabetes. ZT-01 restores glucagon secretion to prevent hypoglycemia, which could dramatically change diabetes disease management and improve both patient health and quality of life. For more information, visit www.zucara.ca.
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SOURCE Zucara Therapeutics Inc. | https://www.whsv.com/prnewswire/2022/05/02/zucara-therapeutics-secures-additional-funding-glyconet-mitacs-development-zt-01/ | 2022-05-02T11:53:59Z |
15 injured in pedal pub crash in Atlanta; driver charged with DUI
ATLANTA (WGCL/Gray News) - The driver of a pedal pub that crashed on Saturday night has been arrested and charged with driving under the influence, the Atlanta Police Department said Sunday morning.
The pedal pub, which is a mobile bar, tipped over while making a turn at West Peachtree Street and 14th Street NE in downtown Atlanta, authorities said.
It happened around 6:30 p.m. According to the Atlanta Police Department, the pedal pub was apparently going too fast while trying to make the turn.
Atlanta Fire Rescue said 15 people were injured and taken to hospitals. Ten sustained minor injuries, three had serious injuries, and two had critical injuries.
“The Atlanta Fire Rescue Department has a mobile ambulance. We call it MAV-1. ... We utilized that to transport 10 and Grady facilitated the transportation of the other five patients,” said Jason McLain, battalion chief for Atlanta Fire Rescue Department.
No other vehicles were involved.
In addition to the DUI, the driver was also charged with a business permit violation, WGCL reported.
Copyright 2022 WGCL via Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/05/02/15-injured-pedal-pub-crash-atlanta-driver-charged-with-dui/ | 2022-05-02T12:32:30Z |
Amber Alert canceled for teen boy in North Carolina
Published: May. 2, 2022 at 7:45 AM EDT|Updated: 27 minutes ago
WINSTON SALEM, N.C. (WHNS/Gray News) - An Amber Alert for a teen boy in North Carolina has been canceled, according to the National Center for Missing and Exploited Children.
The Winston Salem Police Department had earlier issued the Amber Alert for the abduction of a 17-year-old boy.
No further details were provided.
Copyright 2022 WHNS via Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/05/02/amber-alert-issued-teen-boy-north-carolina/ | 2022-05-02T12:32:37Z |
Greyhound racing nearing its end in the US after long slide
DUBUQUE, Iowa (AP) — Vera Rasnake laughed as she led a trio of barking, jostling dogs into the Iowa Greyhound Park, but her smile faded when she acknowledged that after 41 years of being around the sleek animals, her sport was teetering on extinction.
After the end of a truncated season in Dubuque in May, the track here will close. By the end of the year there will only be two tracks left in the country.
“It’s very hard for me to see this,” Rasnake said.
It’s been a long slide for greyhound racing, which reached its peak in the 1980s when there were more than 50 tracks across 19 states. Since then, increased concerns about how the dogs are treated along with an explosion of gambling options has nearly killed a sport that gained widespread appeal about a century ago.
A racing association found that betting on greyhounds plunged from $3.5 billion in 1991 to about $500 million in 2014. Since then, many more tracks have closed.
In some states like the dog-racing mecca of Florida in 2021, it was voter initiatives that ended the sport at the state’s dozen tracks. In others like Iowa, state officials allowed casinos to end subsidies that had kept greyhound racing alive as interest declined.
“Do I think the industry is dying? Yes,” said Gwyneth Anne Thayer, who has written a history of greyhound racing. But “it’s happening way faster than I thought it would.”
The Dubuque track closure and the end of racing in West Memphis, Arkansas, this December will leave racing only in West Virginia, where tracks in Wheeling and near Charleston operate with subsidies from casino revenue.
For some animal welfare groups, the industry’s collapse is the culmination of decades of work to publicize allegations of greyhound mistreatment. The group GREY2K was formed in 2001 and Carey Theil, the organization’s executive director, said he feels a sense of accomplishment now that the sport’s end seems within reach.
“This has become one of the signature animal welfare debates of our time,” Theil said.
GREY2K, the Humane Society and other groups have long argued that greyhound racing was cruel, including its longtime practice of killing dogs that weren’t deemed top racers, using drugs to enhance their performance, confining them for long periods and subjecting animals to the risk of injury on the racetrack.
Industry supporters note there now is a huge demand to adopt retired racers and deny that the other problems are widespread. They also contend that some don’t understand the love greyhounds have for running.
On opening day at the Iowa Greyhound Park in Dubuque, spectators packed into a spacious room that overlooked the track, sipping beers and mixed drinks as they pored over racing statistics before placing bets at kiosks or with attendants. They expressed disappointment that the track would close, lamenting the loss of an entertainment option in Dubuque, a city of about 60,000 known for its stately brick buildings and church steeples built on hills overlooking the Mississippi River.
Peggy Janiszewski and her friend Robin Hannan have for years been driving about three hours from the Chicago area to Dubuque to watch the racing. They typically bet only a few dollars on each race but are more interested in watching the dogs than counting their winnings.
“They’re beautiful. Like works of art,” Janiszewski said.
Bruce Krueger said he has been making the 170-mile (274-kilometer) drive from Milwaukee to Dubuque. He doesn’t believe the dogs are mistreated.
“I know some trainers, and they treat them like kings and queens,” Krueger said.
General Manager Brian Carpenter was 16 when he started working at the track in its second year and has remained 36 seasons until this, its final year.
He recalls the excitement when the track opened in 1985, a time when Iowa was mired in farm bankruptcies and much of Dubuque was struggling. Back then, thousands of people would attend the races, with buses of gamblers arriving every weekend from Chicago and Milwaukee.
“It was an exciting time and the track offered good jobs,” he said.
Opening day this year drew at least 1,000 people but smaller crowds are typical, especially on weeknights.
The Dubuque track was helped along by city and state funding, and after Iowa and other states began allowing casinos, the Dubuque operation was expanded to include its own casino.
Thayer’s book, “Going to the Dogs,” describes a sport with a colorful and often tumultuous history. From its beginning in the 1920s following development of the mechanical lure, the industry was continually pushing to allow for legalized betting state-by-state and to attract attention, with help from Hollywood celebrities, athletes and beauty pageant competitors.
At times, the sport drew more spectators than its more prominent rival horse racing. While considered seedy by some, it was mainstream entertainment for decades, Thayer said.
“People don’t realize how normalized it was in American culture for a long time,” she said.
Greyhound racing also is held in other countries, including Australia, Great Britain, Ireland, Mexico and Vietnam, but it is facing some of the same problems apparent in the U.S.
Although greyhound racing in the U.S. will be confined only to West Virginia, that state seems intent on retaining the sport, said Steve Sarras, president of the West Virginia Kennel Owners Association. The state’s two tracks run races five-days a week year-round.
Sarras said West Virginia legislators made repeated visits to his kennel and others to inspect conditions, and ultimately were confident the dogs are well treated.
“When you see it firsthand, you cannot fake how happy a dog is,” he said.
___
Follow Scott McFetridge on Twitter: https://twitter.com/smcfetridge
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/05/02/greyhound-racing-nearing-its-end-us-after-long-slide/ | 2022-05-02T12:32:47Z |
Jill Biden to meet Ukrainian refugees in Romania, Slovakia
WASHINGTON (AP) — Jill Biden will spend Mother’s Day meeting with Ukrainian mothers and children who fled for their lives after Russian President Vladimir Putin opened war against Ukraine, the White House announced late Sunday.
The May 8 meeting will take place in Slovakia, one of two eastern European countries the first lady plans to visit during a five-day trip that starts Thursday. She also will be stopping in Romania.
The trip will mark Biden’s latest show of solidarity with Ukraine.
Romania and Slovakia share borders with Ukraine, which has spent the past two months fighting off Russia’s military invasion. Romania and Slovakia also are NATO members.
Nearly 5.5 million Ukrainians, mostly women and children, have fled Ukraine since Russia invaded its smaller neighbor on Feb. 24, according to the U.N. High Commissioner for Refugees. Many have resettled in neighboring countries or relocated elsewhere in Europe.
Throughout the trip, Biden will also meet with U.S. service members, U.S. Embassy personnel, humanitarian aid workers and educators, the White House said.
After arriving in Romania on Friday, she is scheduled to meet with U.S. service members at Mihail Kogalniceau Air Base, a U.S. military installation near the Black Sea.
The schedule then takes her to the Romanian capital of Bucharest on Saturday to meet with government officials, U.S. Embassy staff, humanitarian aid workers and educators who are helping teach displaced Ukrainian children. The first lady will travel to Slovakia to meet with staff at the U.S. Embassy in Bratislava.
On May 8, Biden will travel to Kosice and Vysne Nemecke in Slovakia to meet with refugees, humanitarian aid workers and local Slovakians who are supporting Ukrainian families that have sought refuge in Slovakia.
She plans to meet with members of Slovakia’s government on May 9 before returning to the United States.
The trip will be the first lady’s second overseas by herself, following her journey to Tokyo last year for the opening of the delayed 2020 Olympic Games. The trip also will mark her latest gesture of solidarity with Ukraine.
Four days after Russia’s Feb. 24 invasion of Ukraine, Biden appeared at a White House event wearing a face mask embroidered with a sunflower, Ukraine’s national flower.
She also invited Ukraine’s ambassador to the United States, Oksana Markarova, to sit with her during President Joe Biden’s State of the Union address in March and had a sunflower sewn into the sleeve of the blue dress she wore for the occasion.
President Biden visited with Ukrainian refugees during a stop in Poland in March.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/05/02/jill-biden-meet-ukrainian-refugees-romania-slovakia/ | 2022-05-02T12:32:54Z |
Amber Alert canceled for teen boy in North Carolina
Published: May. 2, 2022 at 7:45 AM EDT|Updated: 1 hour ago
WINSTON SALEM, N.C. (WHNS/Gray News) - An Amber Alert for a teen boy in North Carolina has been canceled, according to the National Center for Missing and Exploited Children.
The Winston Salem Police Department had earlier issued the Amber Alert for the abduction of a 17-year-old boy.
No further details were provided.
Copyright 2022 WHNS via Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/05/02/amber-alert-issued-teen-boy-north-carolina/ | 2022-05-02T13:17:23Z |
‘Friends’-themed house for sale in Ohio
Published: May. 2, 2022 at 8:52 AM EDT|Updated: 25 minutes ago
DAYTON, Ohio (CNN) - Hardcore fans of the classic television show “Friends” may want to check out a house up for grabs in Ohio.
The home is designed just like the apartment owned by Monica Geller in the show.
The replica has purple and blue walls, just like it did on the TV set. It even features a mini clawfoot tub, similar to the one in Monica’s bathroom. It also has a new furnace, water heater and air conditioner.
There is no word if there is a pizza-loving neighbor or an “ugly naked guy” living across the street.
The agent selling the home said she repeatedly watched the show and got the house to look as close to the show’s apartment as possible.
The asking price is $162,000.
Copyright 2022 CNN Newsource. All rights reserved. | https://www.whsv.com/2022/05/02/friends-themed-house-sale-ohio/ | 2022-05-02T13:17:30Z |
Jill Biden to meet Ukrainian refugees in Romania, Slovakia
WASHINGTON (AP) — Jill Biden will spend Mother’s Day meeting with Ukrainian mothers and children who fled for their lives after Russian President Vladimir Putin opened war against Ukraine, the White House announced late Sunday.
The May 8 meeting will take place in Slovakia, one of two eastern European countries the first lady plans to visit during a five-day trip that starts Thursday. She also will be stopping in Romania.
The trip will mark Biden’s latest show of solidarity with Ukraine.
Romania and Slovakia share borders with Ukraine, which has spent the past two months fighting off Russia’s military invasion. Romania and Slovakia also are NATO members.
Nearly 5.5 million Ukrainians, mostly women and children, have fled Ukraine since Russia invaded its smaller neighbor on Feb. 24, according to the U.N. High Commissioner for Refugees. Many have resettled in neighboring countries or relocated elsewhere in Europe.
Throughout the trip, Biden will also meet with U.S. service members, U.S. Embassy personnel, humanitarian aid workers and educators, the White House said.
After arriving in Romania on Friday, she is scheduled to meet with U.S. service members at Mihail Kogalniceau Air Base, a U.S. military installation near the Black Sea.
The schedule then takes her to the Romanian capital of Bucharest on Saturday to meet with government officials, U.S. Embassy staff, humanitarian aid workers and educators who are helping teach displaced Ukrainian children. The first lady will travel to Slovakia to meet with staff at the U.S. Embassy in Bratislava.
On May 8, Biden will travel to Kosice and Vysne Nemecke in Slovakia to meet with refugees, humanitarian aid workers and local Slovakians who are supporting Ukrainian families that have sought refuge in Slovakia.
She plans to meet with members of Slovakia’s government on May 9 before returning to the United States.
The trip will be the first lady’s second overseas by herself, following her journey to Tokyo last year for the opening of the delayed 2020 Olympic Games. The trip also will mark her latest gesture of solidarity with Ukraine.
Four days after Russia’s Feb. 24 invasion of Ukraine, Biden appeared at a White House event wearing a face mask embroidered with a sunflower, Ukraine’s national flower.
She also invited Ukraine’s ambassador to the United States, Oksana Markarova, to sit with her during President Joe Biden’s State of the Union address in March and had a sunflower sewn into the sleeve of the blue dress she wore for the occasion.
President Biden visited with Ukrainian refugees during a stop in Poland in March.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/05/02/jill-biden-meet-ukrainian-refugees-romania-slovakia/ | 2022-05-02T13:17:37Z |
Most Accurate NLP Models Accelerate Impact for Financial Services
NEW YORK, May 2, 2022 /PRNewswire/ -- Accern, recognized as the leading NoCode NLP platform for AI breakthroughs, today announced the close of its $20 million Series B round co-led by Mighty Capital and Fusion Fund, alongside Tribe Capital, Viaduct Ventures, Shasta Ventures and Gaingels.
"Accern has built the most advanced NoCode NLP platform for financial services with industry-leading accuracy scores. We're excited to fuel their continued rapid growth, and our Products That Count platform composed of 300,000+ product managers are ideal targets for Accern as they focus on a product-led growth strategy," said Jennifer Vancini, General Partner at Mighty Capital.
Built for domain experts and business analysts, the Accern Solution with end-to-end AI/ML/NLP workflows can be deployed in minutes to deliver high impact insights for equity research, credit risk, M&A activity, ESG performance, insurance claims, fraud prevention, market intelligence, sanctions monitoring and more.
"Accern is making it easy for non-technical users to leverage the latest AI/NLP technologies to extract insights from documents," said Lu Zhang, Founder and Managing Partner at Fusion Fund. "This exponentially expands the reach of AI beyond data teams."
"Our solution fuels innovation for enterprises by providing them with powerful insights for decision-making," said Kumesh Aroomoogan, co-founder and CEO of Accern. "With this funding, we will scale sales and marketing to empower more citizen data scientists."
The Accern NoCode NLP Platform includes pre-assembled data sets, pre-built taxonomies covering over 60,000 companies and 250 themes, 250 plus pre-trained, human-grade ML/NLP models, and pre-integrated dashboards.
"In addition to making it easy for citizen data scientists to access highly accurate pre-trained models, we also enable them to customize their own AI/NLP workflows by bringing their own documents, entities, themes, models, and downstream integrations," added Anshul Vikram Pandey, Ph.D., co-founder and CTO.
About Accern
The Accern NoCode NLP Platform empowers domain experts and business analysts to extract the most accurate insights from massive streams of unstructured data—news, social media, industry reports and internal documents—within minutes. Accern offers pre-built AI/ML/NLP solutions to minimize time to value and maximize ROI for equity research, credit risk, M&A activity, ESG performance, insurance claims, fraud prevention, sanctions monitoring and more.
Recognized as the first NoCode NLP platform and industry leader with the highest accuracy scores, Accern also enables data scientists to customize end-to-end AI/ML/NLP workflows with BYO datasets, taxonomies, models and pre-integrated dashboards and DSML platforms. In production at companies like Allianz, William Blair and Mizuho Bank, Accern accelerates innovation by enhancing existing models and enriching BI dashboards.
Headquartered in New York City, Accern is backed by Fusion Fund, Mighty Capital, Shasta Ventures and Tribe Capital. Learn more at https://accern.com/.
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SOURCE Accern | https://www.whsv.com/prnewswire/2022/05/02/accern-raises-20m-series-b-round-accelerate-access-nocode-natural-language-processing-citizen-data-scientists/ | 2022-05-02T13:17:44Z |
(All amounts expressed in U.S. dollars unless otherwise noted)
TORONTO, May 2, 2022 /PRNewswire/ - Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that it has received approval from the Toronto Stock Exchange (the "TSX") of Agnico Eagle's notice of intention to make a normal course issuer bid (the "NCIB").
Under the NCIB, Agnico Eagle may purchase for cancellation, on the open market at its discretion, during the period commencing on May 4, 2022 and ending on the earlier of May 3, 2023 and the completion of purchases under the NCIB, up to the lesser of 5% of the issued and outstanding common shares of Agnico Eagle ("Common Shares") and that number of Common Shares that can be purchased by Agnico Eagle under the NCIB for an aggregate purchase price, excluding commissions, of not more than $500,000,000 subject to the normal terms and limitations of such bids. Based on the closing share price of $55.85 on April 28, 2022, 8,952,551 Common Shares would be purchasable under the NCIB, representing approximately 1.96% of the issued and outstanding Common Shares as of April 28, 2022. As of April 28, 2022, Agnico Eagle had 455,706,160 issued and outstanding Common Shares.
Daily purchases on the TSX under the NCIB will be limited to 341,828 Common Shares, other than purchases made pursuant to the block purchase exception, which represents 25% of the average daily trading volume of 1,367,311 on the TSX for six months ending March 31, 2022. The actual number of Common Shares which may be purchased under the NCIB and the timing of any such purchases will be determined by the management of Agnico Eagle, subject to applicable law and the rules of the TSX. Purchases under the NCIB are expected to be made through the facilities of the TSX, the New York Stock Exchange and alternative trading systems in Canada or the United States, at prevailing market prices. The NCIB will be funded using Agnico Eagle's existing cash resources, and any Common Shares repurchased by Agnico Eagle under the NCIB will be cancelled.
Agnico Eagle believes that the NCIB will provide a flexible tool as part of Agnico Eagle's overall capital allocation program and objectives, while generating value for shareholders. Decisions regarding any future repurchases will depend on certain factors, such as market conditions, share price and other opportunities to invest capital for growth. Agnico Eagle may elect to suspend or discontinue share repurchases at any time, in accordance with applicable laws.
Agnico Eagle has established an automatic share purchase plan in connection with its NCIB to facilitate the purchase of Common Shares during times when Agnico Eagle would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed black-out periods. Before entering a black-out period, Agnico Eagle may, but is not required to, instruct the broker to make purchases under the NCIB based on parameters set by Agnico Eagle in accordance with the share purchase plan, TSX rules and applicable securities laws. The plan has been pre-cleared by the TSX and will be implemented effective May 9, 2022.
Agnico Eagle is a senior Canadian gold mining company, producing precious metals from operations in Canada, Australia, Finland and Mexico. It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States and Colombia. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. The Company was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
The information in this news release has been prepared as at May 2, 2022. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under the provisions of Canadian provincial securities laws. These forward-looking statements can be identified by the use of words such as "believes", "expected", "may", "will" or similar terms. In particular, such forward-looking statements include, but are not limited to, statements relating to Agnico Eagle's intention to commence the NCIB and the timing, methods and quantity of any purchases of Common Shares under the NCIB, the availability of cash for repurchases of Common Shares under the NCIB, compliance with applicable laws and regulations pertaining to the NCIB, Agnico Eagle's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Agnico Eagle as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These assumptions include, but are not limited to, the following assumptions made as at the date of this news release: that governments, Agnico Eagle or others do not take additional measures in response to the COVID-19 pandemic or otherwise that, individually or in the aggregate, materially affect Agnico Eagle's ability to operate its business; that there are no significant disruptions affecting operations; that production, permitting, development, expansion and the ramp up of operations at each of Agnico Eagle's properties proceeds on a basis consistent with current expectations and plans; that the relevant metal prices, foreign exchange rates and prices for key mining and construction supplies will be consistent with Agnico Eagle's expectations; the availability and sources of capital; operating costs, ongoing utilization and future expansions, the ability to reach required commercial agreements, and the ability to obtain required regulatory approvals; and that there are no material variations in the current tax and regulatory environment.
Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by the forward-looking statements included in this news release. These risks include, but are not limited to: the extent and manner to which COVID-19, and measures taken by governments, Agnico Eagle or others to attempt to reduce the spread of COVID-19, may affect Agnico Eagle, whether directly or indirectly; the volatility of prices of gold and other metals; uncertainty of future production, project development, capital expenditures and other costs; foreign exchange rate fluctuations; financing of additional capital requirements; mining risks; community protests, including by First Nations groups; governmental and environmental regulation; the behavior of the financial markets, including the volatility of Agnico Eagle's stock price; and certain other risks set out in Agnico Eagle's public disclosure documents. For a more detailed discussion of such risks and other factors that may affect Agnico Eagle's ability to achieve the expectations set forth in the forward-looking statements contained in this news release, see Agnico Eagle's Annual Information Form and management's discussion and analysis for the year ended December 31, 2021, each filed on SEDAR at www.sedar.com and included in the Annual Report on Form 40-F for the year ended December 31, 2021, which is filed on EDGAR at www.sec.gov, as well as Agnico Eagle's other filings with the Canadian securities regulators and the US Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on a forward-looking statements, which speak only as of the date made. Other than as required by law, Agnico Eagle does not intend, and does not assume any obligation, to update these forward-looking statements.
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SOURCE Agnico Eagle Mines Limited | https://www.whsv.com/prnewswire/2022/05/02/agnico-eagle-announces-acceptance-by-tsx-normal-course-issuer-bid/ | 2022-05-02T13:17:52Z |
Akebia to Host Conference Call to Provide Business Update
CAMBRIDGE, Mass., May 2, 2022 /PRNewswire/ -- Akebia Therapeutics, Inc. (Nasdaq: AKBA), a biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease, today announced plans to release its financial results for the first quarter ended March 31, 2022 on Monday, May 9, 2022 following the close of financial markets.
Akebia will host a conference call Monday, May 9, 2022 at 4:30 p.m. ET to discuss its financial results and provide a general business update. To listen to the conference call on May 9th, please dial (877) 458-0977 (domestic) or (484) 653-6724 (international) using conference ID number 1273066. The call will also be webcast LIVE and can be accessed via the Investors section of Akebia's website at http://ir.akebia.com.
A replay of the conference call will be available two hours after the completion of the call through May 15, 2022. To access the replay, dial (855) 859-2056 (domestic) or (404) 537-3406 (international) and reference conference ID number 1273066. An online archive of the conference call can be accessed via the Investors section of Akebia's website at http://ir.akebia.com.
About Akebia Therapeutics
Akebia Therapeutics, Inc. is a fully integrated biopharmaceutical company with the purpose to better the lives of people impacted by kidney disease. Akebia was founded in 2007 and is headquartered in Cambridge, Massachusetts. For more information, please visit our website at www.akebia.com, which does not form a part of this release.
Akebia Therapeutics Contact
Mercedes Carrasco
mcarrasco@akebia.com
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SOURCE Akebia Therapeutics | https://www.whsv.com/prnewswire/2022/05/02/akebia-therapeutics-report-first-quarter-financial-results/ | 2022-05-02T13:18:00Z |
AUSTIN, Texas, May 2, 2022 /PRNewswire/ -- Allego, the leading sales enablement provider, today announced it is a platinum sponsor of the Forrester B2B Summit and that its customer, eSentire, the leading provider of Managed Detection and Response cybersecurity services, will present a case study session showcasing its sales rep onboarding success with Allego.
What: Forrester B2B Summit, the hybrid event taking place May 2-4 in Austin, TX and virtually, is the premier event for B2B marketing, sales and product leaders to empower their strategies, fuel the revenue engine and drive the business forward.
Who: At the conference, Allego's valued customer eSentire presents:
eSentire Onboards New Reps in Record Volume and Record Time
Makenzie Van Eyk, Manager, Sales Learning and Development, eSentire
Session description:
Every day, businesses scramble to hire and onboard new sales reps in record volume and in record time. Unfortunately, many lack strategy and tools to deliver accelerated onboarding effectively. As a result, reps' performance suffers, they leave, and companies must hire again. It doesn't have to be that way. In this session, you'll learn how eSentire's lean sales enablement team broke that vicious and costly cycle and ensures new reps are onboarded, ramped, and selling in under 90 days.
When: Monday, May 2, 2022 from 3:35 – 4:05 PM CDT and Wednesday, May 4, 2022 from
11:50 – 12:20 PM CDT
For more information about Allego's sales enablement platform, please visit: https://www.allego.com, or visit the Allego booth in the Summit Marketplace.
About Allego
Allego provides a complete sales enablement platform with patented technology that ensures sellers have the skills, knowledge, and content they need to optimize team success in a hybrid world. Our sales enablement, learning, content management, and conversation intelligence products accelerate performance for sales and other teams. Allego is AI-driven and seller-centric, with the power, agility, insight, and ease teams need to drive results—all in a single app. More than 650,000 professionals use Allego to equip sellers with intelligent training, coaching, and content that engages and converts buyers. Learn more about sales enablement that wins sellers and buyers at allego.com.
Contacts
Allison Rynak
617.645.0314
arynak@allego.com
BLASTmedia for Allego
Nikita Robinson
317.806.1900 ext. 174
allego@blastmedia.com
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SOURCE Allego | https://www.whsv.com/prnewswire/2022/05/02/allego-customer-esentire-present-case-study-onboarding-new-sales-reps-record-volume-record-time-forrester-b2b-summit-2022/ | 2022-05-02T13:18:07Z |
CHARLOTTE, N.C., May 2, 2022 /PRNewswire/ -- This Notice provides information about the sources of the Fund's monthly distributions. You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan.
The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'.
The amounts and sources of distributions reported in this Notice are only estimates and are not being provided for tax reporting purposes. Sources include net investment income (NII), short-term capital gains (ST), long-term capital gains (LT) and paid in capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
The following table provides an estimate of the Fund's distribution sources, reflecting the fiscal year-to- date cumulative amount of distributions. The Fund attributes these estimates equally to each regular distribution throughout the year. Consequently, the estimated information as of the specified month-end shown below is for the current distribution, and also represents an updated estimate for all prior months in the year.
The following table provides information regarding distributions and total return performance over various time periods. This information is intended to help you better understand whether returns for the specified time periods were sufficient to meet distributions.
Additional Disclosures about the Allspring Closed-End Funds
The fund makes distributions in accordance with a managed distribution plan that provides for the declaration of monthly distributions to common shareholders of the fund at an annual minimum fixed rate of 7.0%, based on the fund's average monthly net asset value (NAV) per share over the prior 12 months. Under the managed distribution plan, distributions are sourced from income and also may be sourced from paid-in capital and/or capital gains. The fund's distributions in any period may be more or less than the net return earned by the fund on its investments and therefore should not be used as a measure of performance or confused with yield or income. Distributions in excess of fund returns will cause the fund's NAV to decline. Investors should not draw any conclusions about the fund's investment performance from the amount of its distribution or from the terms of its managed distribution plan.
The quoted distribution rate is a figure that uses the fund's previous distribution to calculate an annualized figure. The distribution rate is calculated by annualizing the last distribution and then dividing by the period-ending NAV or market price. Special distributions, including special capital gains distributions, are not included in the calculation.
The Allspring Utilities and High Income Fund is a closed-end equity and high-yield bond fund. The fund's investment objective is to seek a high level of current income and moderate capital growth with an emphasis on providing tax-advantaged dividend income.
The final determination of the source of all dividend distributions in the current year will be made after year-end. The actual amounts and sources of the amounts for tax-reporting purposes will depend upon a fund's investment experience during the remainder of the fiscal year and may be subject to change based on tax regulations. Each fund will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders how to report these distributions for federal income tax purposes.
For more information on Allspring's closed-end funds, please visit our website.
This closed-end fund is no longer available as an initial public offering and is only offered through broker-dealers on the secondary market. A closed-end fund is not required to buy its shares back from investors upon request. Shares of the fund may trade at either a premium or discount relative to the fund's net asset value, and there can be no assurance that any discount will decrease. The values of, and/or the income generated by, securities held by the fund may decline due to general market conditions or other factors, including those directly involving the issuers of such securities. Equity securities fluctuate in value in response to factors specific to the issuer of the security. Debt securities are subject to credit risk and interest rate risk, and high yield securities and unrated securities of similar credit quality have a much greater risk of default and their values tend to be more volatile than higher-rated securities with similar maturities. The fund is also subject to risks associated with any concentration of its investments in the utility sector. Funds that concentrate their investments in a single industry or sector may face increased risk of price fluctuation due to adverse developments within that industry or sector. The fund is leveraged through a revolving credit facility and also may incur leverage by issuing preferred shares in the future. The use of leverage results in certain risks, including, among others, the likelihood of greater volatility of net asset value and the market price of common shares. Foreign investments may contain more risk due to the inherent risks associated with changing political climates, foreign market instability, and foreign currency fluctuations. Derivatives involve additional risks, including interest rate risk, credit risk, the risk of improper valuation, and the risk of noncorrelation to the relevant instruments they are designed to hedge or closely track.
Allspring Global Investments™ is the trade name for the asset management firms of Allspring Global Investments Holdings, LLC, a holding company indirectly owned by certain private funds of GTCR LLC and Reverence Capital Partners, L.P. These firms include but are not limited to Allspring Global Investments, LLC, and Allspring Funds Management, LLC. Certain products managed by Allspring entities are distributed by Allspring Funds Distributor, LLC (a broker-dealer and Member FINRA/SIPC).
This material is for general informational and educational purposes only and is NOT intended to provide investment advice or a recommendation of any kind—including a recommendation for any specific investment, strategy, or plan.
Some of the information contained herein may include forward-looking statements about the expected investment activities of the funds. These statements provide no assurance as to the funds' actual investment activities or results. Readers must make their own assessment of the information contained herein and consider such other factors as they may deem relevant to their individual circumstances.
© 2022 Allspring Global Investments Holdings, LLC. All rights reserved.
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SOURCE Allspring Global Investments | https://www.whsv.com/prnewswire/2022/05/02/allspring-utilities-high-income-fund-erh-cusip-94987e109-important-notice-shareholders/ | 2022-05-02T13:18:13Z |
CHICAGO, May 2, 2022 /PRNewswire/ -- The American Association of Neuroscience Nurses (AANN) published a Neurological Assessment of the Adult Hospitalized Patient white paper.
White paper: https://aann.org/uploads/about/AANN21_Neuro_White_Paper_V9.pdf?utm_source=pr_newswire&utm_medium=email&utm_campaign=napressrelease
Toolkit: https://aann.org/uploads/Education/AANN21_Neuro_Toolkit_v4.pdf?utm_source=pr_newswire&utm_medium=email&utm_campaign=napressrelease
A timely and accurate assessment of a patient's neurological status is an important aspect of nursing care. All patients have the potential for a neurological event, whether they have a neurological primary diagnosis or not. Currently, there is no standard of care for the neurological assessment of the hospitalized adult. As the leader in neuroscience nursing, the AANN recognized the importance of a consistent standard assessment for the nurse and appointed a task force to develop a white paper delineating that standard.
The purpose of the white paper is to describe the essential components of the neurological assessment of the hospitalized adult, enabling the nurse to recognize early neurological changes, so interventions can be implemented in a timely manner to prevent injury. The white paper includes information about the timing of the assessment, intervention and documentation, components of the assessment, baseline checklists, and more. A standardized approach can assist with rapid identification of neurological changes so interventions can be initiated promptly.
"These essential components of a neurological assessment provide a standard for nurses from all specialties who care for hospitalized adults. AANN is proud to offer this free resource for the benefit of all nurses to improve patient care." commented Cathy Cartwright, DNP RN-BC PCNS FAAN, member of the Clinical Science Committee Neurological Assessment Task Force.
To access the Neurological Assessment of the Adult Hospitalized Patient white paper and the corresponding toolkit, please visit AANN.org/neuroassessment.
About AANN
Founded in 1968, the American Association of Neuroscience Nurses (AANN), an organization of more than 5,400 members worldwide, is committed to working for the highest standard of care for neuroscience patients by advancing the science and practice of neuroscience nursing. AANN accomplishes this through continuing education, information dissemination, standard setting, and advocacy on behalf of neuroscience patients, families, and nurses. For more information, visit AANN.org.
News Release
Allison Begezda
847.375.4844
ABegezda@aann.org
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SOURCE American Association of Neuroscience Nurses (AANN) | https://www.whsv.com/prnewswire/2022/05/02/american-association-neuroscience-nurses-publishes-neurological-assessment-adult-hospitalized-patient-white-paper/ | 2022-05-02T13:18:21Z |
ANNAPOLIS, Md., May 2, 2022 /PRNewswire/ -- To commemorate the 11th anniversary of the death of Osama Bin Laden at the hands of former Navy SEAL operator Robert J. O'Neill and SEAL Team 6 in Operation Neptune's Spear, Armed Forces Brewing Company today announced it will annually release a limited run of Neptune's Beer, a Thrice Bock Lager beer style with a rare 12% ABV. The beer will be available at special events held by Armed Forces Brewing Company throughout 2022 and will be sold nationally online and in select retail stores starting on May 1, 2023.
Armed Forces Brewing Company's 4,000+ investors were polled and chose the Neptune's Beer can design shown here over two other possible designs. The design pays homage to brewery co-founder O'Neill who shot Bin Laden "thrice" during the raid on the terrorist's Islamabad compound on May 1, 2011.
Neptune's Beer is a "Thrice Bock" – a unique beer style created by Armed Forces Brewing Company's award winning brewmaster, Bob Rupprecht. Thrice Bock is a rich and warming dark lager weighing in at 12% ABV, an all-malt beast. It pours with a tan head over a mahogany liquid, riddled with ruby red highlights. It's all about the malt - three times that of your average beer. Notes of caramel and dark fruit swirl in a sea of liquid bread. Just a touch of hop bitterness balances the toasty sweetness, its aroma muted by the extended three-month lagering time.
Armed Forces Brewing Company is owned by Military Veterans and is known for its outrageous marketing for its public stock offering, which has already attracted more than 4,000 investors from all 50 states. More information on the SEC-qualified public offering is available at https://ownarmedforcesbrewingco.com/neptune/. As noted above, Armed Forces Brewing Company involves their shareholders in many aspects of the company's business, including allowing their investors to help with product design and to have exclusive tastings of new beers when developed.
"We wanted to make a beer that commemorated the operation and the team of Americans that included our own Robert J. O'Neill, who served American justice for our country and our 9-11 families," CEO Alan Beal noted. "We're forever grateful and will tribute them every year on the anniversary of Operation Neptune's Spear when Rob put three bullets in the face of that piece of shit."
About Armed Forces Brewing Company:
Armed Forces Brewing Company was created to pay homage to the U.S. Military through its four beer brands that pay tribute to each branch of the Military: Seawolf Brewery (Navy, Coast Guard), Soldier Brewery (Army), Jarhead Brewery (Marines) and Airmen Brewery (Air Force and Space Force). Launched in 2019, Armed Forces Brewing Company was founded by experienced veterans of the food and beverage industry and Military Veterans.
For more information visit https://ownarmedforcesbrewingco.com/neptune/
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SOURCE Armed Forces Brewing Company | https://www.whsv.com/prnewswire/2022/05/02/armed-forces-brewing-company-announces-neptunes-beer-commemorating-anniversary-elimination-americas-public-enemy-number-one/ | 2022-05-02T13:18:27Z |
ROLLING MEADOWS, Ill, May 2, 2022 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Independence, Ohio-based Lighthouse Insurance Group, LLC (LIG). Terms of the transaction were not disclosed.
Founded in 2009, LIG offers health insurance products, Medicare plans and advisory solutions to families and individuals throughout the United States who do not qualify for conventional corporate plans. LIG manages a diverse customer lead generation network comprised primarily of third-party lead providers, direct carrier partners and more than 80 associations. Jason Farro, Anthony Naoum and their associates will remain in their current location under the direction of Tom Belmont Jr., U.S. Health & Benefits Practice Leader for Gallagher's employee benefits consulting and brokerage operations.
"LIG is a rapidly growing benefit consultant that expands our health and ancillary insurance offerings, and brings transitional options to the pre- and post-retirees of our employer clients," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very pleased to welcome Jason, Anthony and their associates to Gallagher."
Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 68 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
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SOURCE Arthur J. Gallagher & Co. | https://www.whsv.com/prnewswire/2022/05/02/arthur-j-gallagher-amp-co-acquires-lighthouse-insurance-group-llc/ | 2022-05-02T13:18:33Z |
VANCOUVER, BC, May 2, 2022 /PRNewswire/ - Astra Exploration Inc. (TSXV: ASTR) ("Astra" or the "Company") is pleased to provide results from the first 11 of 30 completed drill holes at the Pampa Paciencia gold-silver project in northern Chile.
PPRC-22-12:
- 14.48 grams per tonne (g/t) gold and 39.7 g/t silver over 3 metres downhole (mDH) within a broader zone of 2.71 g/t gold and 10.8 g/t silver over 21 mDH
PPRC-22-13:
- 3.28 g/t gold and 58.3 g/t silver over 6 mDH within a broader zone of 1.6 g/t gold and 21.3 g/t silver over 22 mDH
PPRC-22-14:
- 4.09 g/t gold and 45.22 g/t silver over 4 mDH within a broader zone of 1.39 g/t gold and 17.1 g/t silver over 17 mDH
Astra's CEO, Brian Miller commented: "These first drill results in Astra's brief history are exciting as they define a wide shoot of mineralization near surface that is open along strike and to depth. Company geologists interpret that these holes are only at the top of the gold rich zone with significant room for expansion. The company's maiden drill program has tested five target areas with veins intercepted in 29 of 30 holes. Assays remain outstanding for 18 more drillholes at the project."
Pampa Paciencia is a road-accessible, low-sulphidation epithermal (LSE) gold-silver project located within an active mining district less than 15 kilometers from two major copper mines (Sierra Gorda and Spence) and 5 kilometers from the Faride LSE mine (Figure 5).
Astra has completed property wide mapping and sampling, geophysical surveys, and localized trenching and in doing so, has defined a vein boulder field over approximately 75% of the project area. The veins do not outcrop as the majority of the project area is covered by a thin layer of gravels and caliche but the vein float can be used to identify areas of high prospectivity.
Reverse circulation drilling commenced on veins within the interpreted five km long North Zone vein corridor (Figure 1). The holes reported herein targeted the Paciencia Vein within that corridor along a strike length of 400 meters. All holes intercepted the vein, with several intercepting a sub parallel footwall splay (Figure 2).
Historical drill holes were widely spaced leaving significant strike and dip length to expand the historical drill intercepts into larger bodies of mineralization. These first results strongly support this interpretation with holes PPRC-22-12, PPRC-22-13 and PPRC22-14 expanding mineralization to the east where it remains open along strike and at depth (Figure 3).
Drill assays are pending for the remaining 18 holes and are expected in May. The remaining drill holes were completed as follows:
- One in the Paciencia Vein
- Ten in Paciencia Oeste
- Three in Paciencia Este
- Three in the Central Zone
- One in a North Zone geophysical target
The Paciencia Vein consists of vein breccias, hydrothermal breccias, quartz stockworks and late limonitic breccias with vein clasts that form a WNW-ESE oriented mineralized structure with a true thickness of 10 to 20 metres. The vein has a general north-dip that gradually changes from 75° NNE in the west portion of the vein, to 85° to subvertical in the east. The current geologic interpretation has identified two to three main branches of the Paciencia Vein, with higher grades located in the more vertical portion of the vein (Figure 4 and 3D Movie). To view the 3D movie, please click here.
Geochemical results (Table 1) confirm the gold-rich nature of the Paciencia Vein, with an average Ag to Au ratio of 16 in the higher grade portions of the vein, and increasing to 48 when in the wider low grade zones.
A total of 2,981 metres of RC drilling were completed in thirty holes between February and March 2022 at Pampa Paciencia. These mostly concentrated on defining the strike and depth continuity of the Paciencia Vein system in the North Zone (Figure 1). Three holes were drilled to test veins at depth in the Central Zone (Figure 1 – inset) and two holes tested geophysical targets in the North Zone. A total of 1,233 samples, including blanks, duplicates and standards, were sampled and sent to ALS lab in Santiago, Chile.
The drill program was completed for ~C$650,000 of all-in costs highlighting the ability to complete cost-effective exploration at low elevations in Chile.
Eleven historical holes had been drilled previously on the property and Astra's geologists continued with the numbering system, so holes PPRC-22-12 to PPRC-22-22 are the first 11 holes completed by Astra Exploration.
Drill samples were sampled, bagged, and tagged by Astra´s geologists and then delivered to the ALS sample preparation laboratory in Santiago. Samples were prepared with PREP 31B code, and then analyzed with fire assay for gold (Au-AA24), acid digestion for silver (Ag-AA62), and multi elements by ICP (ME-ICP61). Gold over-limits were analyzed by gravity method (Au-GRA22).
The technical data and information as disclosed in this report has been reviewed and approved by Darcy Marud. Mr. Marud is a Practicing Member of the Association of Professional Geoscientists of Ontario and is a qualified person as defined under the terms of National Instrument 43-101
– Standards of Disclosure for Mineral Projects.
Astra Exploration Inc. is an exploration company based out of Vancouver, BC. Astra is engaged in the acquisition, exploration and development of epithermal gold-silver properties in Chile and is building a portfolio of high-quality projects. Astra's current focus is the development of the Pampa Paciencia Project. Additional information is available on the Company's website at www.astra-exploration.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company's properties.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the Company's business activities; exploration on the Company's properties; and marketing initiatives. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Such factors include, without limitation: development of the industry in which the Company operates; risks associated with the conduct of the Company's business activities; risks relating to reliance on the Company's management team and outside contractors; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; laws and regulations governing the industry in which the Company operates; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties; employee relations, labour unrest or unavailability; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and other risk factors disclosed in the Company's public disclosure documents available on the Company's profile at www.sedar.com. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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Both ETFs are the first of their kind, offering leveraged and inverse exposure to high demand investments
NEW YORK, May 2, 2022 /PRNewswire/ -- AXS Investments, a leading asset manager providing access to alternative investments for growth, income and diversification, is today launching two new first-of-their-kind ETFs: the AXS 2X Innovation ETF (Nasdaq: TARK) and the AXS Short China Internet ETF (Nasdaq: SWEB).
TARK seeks two times (2x) the daily exposure to a portfolio of companies involved in transformational industries, such as genomics, autonomous vehicles and next-gen internet. The ETF is designed as a potential solution for investors who have a bullish view on the growth of these disruptive technologies.
"Recent market conditions have created what we view as a very compelling entry point for high conviction investors who believe in the value of innovation," said Greg Bassuk, Chief Executive Officer of AXS Investments. "We are excited to offer the AXS 2X Innovation ETF as an easily accessible leveraged exposure to these companies."
SWEB also is a groundbreaking concept in the ETF industry, seeking 1x daily short exposure to a portfolio of China-based Internet-related companies, designed for investors who may want to take a targeted position against a group that has recently faced a challenging macro backdrop.
"We believe offering inverse exposure to China's Internet sector creates an opportunity for those investors who foresee a continuation of the market and geopolitical headwinds that are currently confronting Chinese technology and Internet-related companies," added Bassuk.
Along with the launch of these two ETFs, the Tuttle Capital Short Innovation ETF (Nasdaq: SARK) also is planned to join the AXS funds family. SARK seeks inverse exposure to the same portfolio of disruptive technologies captured by TARK. Since launching in November, SARK has amassed over $425 million in assets under management.
"We're thrilled to be adding SARK to our fast-growing lineup of ETFs. The fund's asset gathering success is proof that investors want a simple way to express an investment view on innovation and future-focused technology," continued Bassuk. "The launch of TARK and SWEB, and the addition of SARK to our lineup, are emblematic of the innovation and 'access' that the AXS fund family represents. We look forward to continuing to build out what we believe will be the most innovative ETF family in the months ahead as we launch additional funds and continue to add to our lineup."
These ETFs are part of the AXS ETF family that also includes the AXS Astoria Inflation Sensitive ETF (NYSE Arca: PPI), an actively managed ETF designed to hedge against inflation and generate appreciation through inflation-sensitive investments. PPI has already crossed the $70 million asset threshold in roughly 70 trading days since its launch. The AXS ETF lineup also includes the recently acquired AXS Change Finance ESG ETF (NYSE Arca: CHGX), the first certified carbon-neutral ETF*, which has amassed over $110 million in assets.
"Our mission is to continue providing all types of investors with alternatives to traditional stock and bond exposures as highly differentiated tools needed to navigate today's challenging markets," said Bassuk.
Leveraged ETFs pursue daily leveraged investment objectives, which means they are riskier than alternatives that do not use leverage. They seek daily goals and should not be expected to track the underlying index over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments.
The AXS 2X Innovation ETF, Investment Managers Series Trust II, and AXS Investments LLC are not affiliated with the ARK ETF Trust, the ARK Innovation ETF, or ARK Investment Management LLC. The AXS Short China Internet ETF, Investment Managers Series Trust II, and AXS Investments LLC are not affiliated with Krane Shares Trust, the KraneShares CSI China Internet ETF, Krane Funds Advisors, LLC or any index.
AXS Investments is a leading alternative investment manager providing a diversified family of alternative investments for growth, income and diversification. The firm empowers investors to diversify their portfolios with investments previously available only to the largest institutional and high net worth investors. The investor-friendly AXS funds are time-tested, liquid, transparent and managed by high pedigreed portfolio managers with long and strong track records. For more information, visit www.axsinvestments.com.
There are risks involved with investing including the possible loss of principal. Past performance does not guarantee future results. Investors should carefully consider the investment objectives, risks, charges and expenses of any fund before investing. To obtain a prospectus containing this and other important information, please click here to view or download a prospectus online. Read the fund's prospectus carefully before you invest.
AXS 2X Innovation ETF and AXS Short China Internet ETF are not suitable for all investors and are designed to be utilized only by sophisticated investors who understand the risks associated with the use of derivatives, are willing to assume a high degree of risk, and intend to actively monitor and manage their investments in a Fund. The Funds are not intended to be used by, and are not appropriate for, investors who do not intend to actively monitor and manage their portfolios.
There is no guarantee that these, or any investment strategies, will succeed. Shares of these ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns.
Leverage risk: The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. For periods longer than a single day, the Fund will lose money if the ARK Innovation ETF's performance is flat, and it is possible that the Fund will lose money even if the ARK Innovation ETF's performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day if the ARK Innovation ETF loses more than 50% in one day. Compounding risk: The Fund has a single day investment objective, and performance for any other period is the result of its return for each day compounded over the period. Performance for periods longer than a single day will very likely differ in amount, and possibly even direction, from 200% of the daily return of the ARK Innovation ETF for the same period, before accounting for fees and expenses. Compounding affects all investments but has a more significant impact on a leveraged fund. This effect becomes more pronounced as the ARK Innovation ETF volatility and holding periods increase. Equity securities risk: The value of the equity securities the Fund holds may fall due to general market and economic conditions. Foreign securities risk: Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities. Health care sector risk: The health care sector may be adversely affected by government regulations and government health care programs. Communications sector risk: Companies in this sector may be adversely affected by potential obsolescence of products/services, pricing competition, research and development costs, substantial capital requirements and government regulation. Information technology sector risk: Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins.
China risk: The China Internet ETF invests in Chinese companies. The Chinese economy is generally considered an emerging market and can be significantly affected by economic and political conditions in China and surrounding Asian countries. Compounding risk: The Fund has a single day investment objective, and performance for any other period is the result of its return for each day compounded over the period. Performance for periods longer than a single day will very likely differ in amount, and possibly even direction, from the inverse (-1x) of the daily return of the China Internet ETF for the same period, before accounting for fees and expenses. Compounding affects all investments but has a more significant impact on an inverse fund. This effect becomes more pronounced as the China Internet ETF volatility and holding periods increase. Correlation risk: There is no guarantee that the Fund will achieve a high degree of inverse correlation with the China Internet ETF, and failure to do so may prevent the Fund from achieving its investment objective. Derivatives risk: The Fund's use of derivatives, which may be considered aggressive and may expose the Fund to greater risks and larger losses or smaller gains than investing directly in the reference asset(s) underlying those derivatives. Foreign securities risk: The China Internet ETF's investments in foreign securities can be riskier than U.S. securities investments. Investments in emerging markets are subject to even greater risks. Internet company risk: Many Internet-related companies have incurred large losses since their inception and may continue to incur large losses in the hope of capturing market share and generating future revenues. Inverse correlation risk: Short (inverse) positions are designed to profit from a decline in the price of a particular reference asset. Investors will lose money when the China Internet ETF rises, which is the opposite result from that of traditional funds. Leverage risk: Leverage increases the risk of a total loss of an investor's investment, may increase the volatility of the Fund, and may magnify any differences between the performance of the Fund and the China Internet ETF. Short sale exposure risk: Seeking inverse or "short" exposure may expose the Fund to risks under certain market conditions of an increase in the volatility and decrease in the liquidity of the instruments underlying the short position, which may lower the Fund's return. Small and medium company risk: Small and medium sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies. Swap agreement risk: The Fund expects to use swap agreements as a means to achieve its investment objective. The lack of regulation in swap markets could expose investors to significant losses under certain circumstances, including in the event of trading abuses or financial failure by participants.
There is no guarantee the sectors or asset classes the advisor identifies will benefit from inflation. Fund may invest a larger portion of its assets in one or more sectors than many other funds, and thus will be more susceptible to negative events affecting those sectors. Equity securities risk: Equity securities may be particularly sensitive to rising interest rates, as the cost of capital rises and borrowing costs increase. Equity securities may decline significantly in price over short or extended periods of time, and such declines may occur in the equity market as a whole, or in only a particular country, company, industry or sector of the market. Commodities risk: Commodity prices can have significant volatility, and exposure to commodities can cause the value of the Fund's shares to decline or fluctuate in a rapid and unpredictable manner. The values of commodities may be affected by changes in overall market movements, real or perceived inflationary trends, commodity index volatility, changes in interest rates or currency exchange rates, population growth and changing demographics, international economic, political and regulatory developments, and factors affecting a particular region, industry or commodity. Futures contracts risk: The Fund expects that certain of the underlying ETFs in which it invests will utilize futures contracts for its commodities investments. The risk of a position in a futures contract may be very large compared to the relatively low level of margin the underlying ETF is required to deposit. In many cases, a relatively small price movement in a futures contract may result in immediate and substantial loss or gain to the investor relative to the size of a required margin deposit. The prices of futures contracts may not correlate perfectly with movements in the securities or index underlying them. TIPS risk: Principal payments for Treasury Inflation-Protection Securities are adjusted according to changes in the Consumer Price Index (CPI). While this may provide a hedge against inflation, the returns may be relatively lower than those of other securities. Similar to other issuers, changes to the financial condition or credit rating of the U.S. government may cause the value of the Fund's exposure to U.S. Treasury obligations to decline.
The Fund may invest a larger portion of its assets in one or more sectors than many other funds, and thus will be more susceptible to negative events affecting those sectors. Market and equity risk: The value and market price of an equity security may decline due to general market conditions that may or may not be specifically related to a particular company or industry. Passive investment risk: The Fund invests in securities included in the Index regardless of investment merit. It is not actively managed and generally will not attempt to take defensive positions in declining markets. ESG investing risk: The Fund's ESG policy could cause it to make or avoid investments that could result in the portfolio underperforming similar funds that do not have such policies. Market cap risks: Companies with larger capitalization may be unable to attain the high growth rates of successful, smaller companies during periods of economic expansion. The securities of mid-capitalization companies may be subject to more abrupt or erratic market movements and may have lower trading volumes or more erratic trading than securities of larger, more established companies. Real estate risk: Investments in Real Estate Investment Trusts (REITs) involve risks such as declines in the value of real estate and increased susceptibility to adverse economic or regulatory developments.
* Constituent carbon footprint data is provided by the Carbon Disclosure Project. Portfolio-level carbon footprint is equal to the sum of each portfolio constituent scope 1 and scope 2 carbon emissions multiplied by percentage of ownership (position size / market capitalization). Carbon footprint analyses are performed prior to portfolio rebalancing each quarter. Ethos ESG has completed an independent audit of CHGX's carbon footprint and carbon credits and determined that CHGX is a carbon neutral fund. Ethos ESG defines carbon neutrality for a fund as reducing more tons of CO2 emissions (for example, through valid carbon storage credits) than the fund creates through the Scope 1 and Scope 2 emissions of its holdings. More information on Ethos ESG's methodology at https://ethosesg.com/carbon-neutral-certification.
The use of inverse instruments may expose the Fund to additional risks that it would not be subject to if it invested only in "long" positions. Trading derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities.
Distributed by IMST Distributors, LLC, which is not affiliated with AXS Investments.
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SOURCE AXS Investments | https://www.whsv.com/prnewswire/2022/05/02/axs-investments-broadens-etf-lineup-with-launch-axs-2x-innovation-etf-tark-axs-short-china-internet-etf-sweb/ | 2022-05-02T13:18:46Z |
DETROIT, May 2, 2022 /PRNewswire/ -- Benzinga, a financial news and data company, announced today that Berner, Co-Founder and CEO of the extremely successful cannabis, mushrooms and clothing brand, Cookies, has joined its Benzinga Psychedelics Advisory Council.
The Benzinga Psychedelics Advisory Council is comprised of key thought leaders who have come together to share insights into industry trends, relevant news, and industry forecasts.
For Berner, this was an obvious choice. "I'm excited and humbled to join our good friends at Benzinga in this mission. Over the years, the Benzinga team has been incredibly supportive of the cannabis and psychedelics industry, and Cookies specifically. I am honored and excited to collaborate with experts in the space," said Berner, Co-Founder and CEO of Cookies.
"We're thrilled to continue to feature a diverse group of men and women who represent some of the leading investors, operators, and technologies in the psychedelics industry," added Patrick Lane, Executive Vice President of Partnerships at Benzinga.
"Few things are as important as collaboration and the sharing of knowledge in the psychedelics space," said Benzinga's Head of Content Strategy Javier Hasse. "And I feel the Benzinga Psychedelics Advisory Council really contributes to this cause. Having Berner join will certainly help elevate the discussions and accomplishments to new heights."
What Is The Benzinga Psychedelics Advisory Council?
The Benzinga Psychedelics Advisory Council honors some of the greatest leaders in the psychedelics industry, while providing Benzinga readers and Benzinga Psychedelics Capital Conference attendees with unprecedented access to credible industry insights.
Members of the Benzinga Psychedelics Advisory Council will share their expertise through a series of articles, opinion pieces, live conversations at Benzinga Psychedelics Capital Conferences, and quotes on relevant news.
Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content.
About COOKIES
Cookies, founded in 2010 by Billboard-charting rapper and entrepreneur Berner and Bay Area breeder and cultivator Jai, is the most globally recognized cannabis company in the world. Cookies values the power of the plant and focuses on creating game-changing genetics. The company offers a collection of over 70 proprietary cannabis strains and more than 2,000 products. Cookies also actively works to enrich communities disproportionately impacted by the War on Drugs through advocacy and social equity initiatives. Headquartered in San Francisco, the company opened its first retail store in 2018 in Los Angeles, and has since expanded to over 40 retail locations in 17 markets across 4 countries. Cookies was named one of America's Hottest Brands of 2021 by AdAge; the first cannabis brand to ever receive this accolade. Learn more at cookies.co
About BERNER
Drawing on his younger days working as a budtender in a legal medical cannabis shop, Berner knew he had something unique to offer the cannabis world, especially since so few people of color legally own any parts of the $15 billion-dollar industry they've otherwise participated in for decades. While working at a dispensary, he used to make the shelf signage to promote the strains, however, he recognized there were not any actual cannabis "brands".
Berner didn't just want in the game for himself, he wanted to bring up others, too. In 2010, he partnered with Bay Area cultivator and breeder Jai "Jigga" Chang to create Cookies, a strain of medical marijuana they formerly marketed as "Girl Scout Cookies". The cannabis strain was paired with a streetwear clothing line of the same name that unapologetically gave birth to a company and an entire cannabis enterprise.
In spite of his accomplishments, Berner knows the legalization of cannabis can't erase decades of disenfranchisement and incarceration that has disproportionately affected black and brown people across the country. That's why he consistently reaches back to ensure others have a chance to be a part of the legalized cannabis industry. Berner's humility and accessibility is very rare for a multidisciplinary businessman and mogul. Because, for him it's about so much more.
About Benzinga
Benzinga is a dynamic and innovative financial media outlet that empowers investors with high-quality, unique content coveted by Wall Street's top traders. Benzinga provides timely, actionable ideas that help users navigate even the most uncertain and volatile markets – in real-time with an unmatched caliber.
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SOURCE Benzinga | https://www.whsv.com/prnewswire/2022/05/02/berner-joins-benzinga-psychedelics-advisory-council/ | 2022-05-02T13:18:52Z |
- According to the Black Knight HPI, home prices rose 2.3% in March alone, marking the fifth time in the pandemic era that homes increased by more than 2% in a single month
- Annual home price gains slowed very slightly in March, seeing 19.9% annual appreciation, down from an upwardly revised 20.1% in February -- the first-ever month to see greater than 20% price growth
- With 30-year mortgage rates at 5.11% as of April 21, the share of the median income required to make the principal and interest (P&I) payment on the average-priced home is now 32.5%
- That is within 1.6 percentage points of the all-time high 34.1% payment-to-income ratio seen in July 2006
- A rise of just 50 more basis points in rates or a 5% rise in home prices would push affordability to its worst level on record, and they are already up 200 basis points and 5.9% respectively since the start of 2022
- A full 95 of the 100 largest U.S. markets are now less affordable than their long-term (1995-2003) benchmarks, up from six markets at the start of the pandemic
- Thirty-seven markets -- representing nearly a third of the country -- are now the least affordable they've ever been
- Optimal Blue rate lock data has shown increases in adjustable-rate mortgages (ARMs) as they seek to navigate an ever-more challenging housing market
JACKSONVILLE, Fla., May 2, 2022 /PRNewswire/ -- Today, the Data & Analytics division of Black Knight, Inc. (NYSE:BKI) released its latest Mortgage Monitor Report, based upon the company's industry-leading mortgage, real estate and public records datasets. As home prices and interest rates continue their sharp upward climb, this month's report revisits the mounting affordability pressures resulting from these competing dynamics. According to Black Knight Data & Analytics President Ben Graboske, though home price appreciation slowed in March -- albeit very slightly -- 30-year mortgage interest rates above 5% have pushed affordability very near its all-time worst level.
"After accelerating for the last four months, the rate of annual home price growth actually slowed a bit in March," said Graboske. "Still, at 19.9% -- down from an upwardly revised 20.1% in February -- March would have otherwise set yet another record for appreciation. Year-to-date, home prices are already up nearly 6% nationwide with nearly 25% of the nation's largest markets seeing gains of more than 7% over the last three months alone. With 30-year interest rates hitting 5.11% as of April 21, the impact these price gains have had on home affordability is significant.
"As measured by the share of median income required to make the P&I payment on the average-priced home bought with 20% down, U.S. housing was the least affordable ever back in July 2006 when it took 34.1% to make that P&I payment. At the end of February 2022, we were already at 29.1% -- and both rates and prices have continued to climb since then. As of April 21, that payment-to-income ratio has now climbed all the way to 32.5%, within just 1.6 percentage points of the prior record. In 'kitchen table' terms, that equates to a $522 higher average monthly P&I payment -- a 38% increase since January -- with that payment up $790 (+72%) since the start of the pandemic. It won't take much to push us past 2006 levels either; a 50 basis points jump in 30-year offerings or a 5% rise in home prices would push affordability to its worst level on record. And saying that, we should also keep in mind that they've already risen 200 basis points and 5.9% respectively this year."
Leveraging rate lock data from Optimal Blue, a division of Black Knight, this month's Mortgage Monitor shows that these market dynamics have made ARMs increasingly more attractive to borrowers. Indeed, the spread between 30-year and ARM offerings is now the widest it's been since 2014, and within 20 basis points of an all-time high. As of mid-April, the average 5/1 ARM had a 1.3% lower initial rate than 30-year mortgages. In turn, the ARM share of purchase rate locks by volume has spiked from 2.5% in December to nearly 8% in March, the highest such share since Optimal Blue began reporting the metric in 2017.
While the ARM share is now at or near a post-Great Financial Crisis high, it still pales in comparison to the 40%+ of purchases completed via ARMs at the peak in 2005. Risk characteristics of these loans remain conservative as well: ARMs with 7-10-year introductory periods make up the vast majority of ARM originations (85% in 2021) and the average debt-to-income ratio among March ARM rate locks remained below 31%. Today's average ARM credit score of 757 is also the highest since at least 2017, and the number of outstanding ARMs is the lowest in more than 20 years. Still, nearly 1.4 million active ARMs are in the adjustable phase and may face rate -- and subsequently payment -- increases in coming months driven by sharp rises in underlying ARM indexes. Black Knight will continue to monitor the situation in the months to come.
Finally, though the appetite for "Expanded Guideline" purchase loans -- a proxy for the non-qualified mortgage (non-QM) market -- was all but non-existent early in the pandemic, rate locks on such loans have since hit a multi-year high driven by widening spreads, tightened affordability and increased investor appetite. While such loans only made up approximately 3% of all purchase locks in recent months, they are worth keeping an eye on given continued market shifts.
About the Mortgage Monitor
The Data & Analytics division of Black Knight manages the nation's leading repository of loan-level residential mortgage data and performance information covering the majority of the overall market, including tens of millions of loans across the spectrum of credit products and more than 160 million historical records. The combined insight of the Black Knight HPI and Collateral Analytics' home price and real estate data provides one of the most complete, accurate and timely measures of home prices available, covering 95% of U.S. residential properties down to the ZIP-code level. In addition, the company maintains one of the most robust public property records databases available, covering 99.9% of the U.S. population and households from more than 3,100 counties.
Black Knight's research experts carefully analyze this data to produce a summary supplemented by dozens of charts and graphs that reflect trend and point-in-time observations for the monthly Mortgage Monitor Report. To review the full report, visit: https://www.blackknightinc.com/data-reports/
About Black Knight
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively.
Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serving their customers. For more information on Black Knight, please visit www.blackknightinc.com/.
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SOURCE Black Knight, Inc. | https://www.whsv.com/prnewswire/2022/05/02/black-knight-home-affordability-nears-all-time-low-amid-spiking-interest-rates-still-rising-prices-borrower-behavior-preferred-products-changing/ | 2022-05-02T13:18:58Z |
Business Development Company Will Have More Than $2 Billion in Committed Capital
NEW YORK, May 2, 2022 /PRNewswire/ -- Blue Owl Capital Inc. ("Blue Owl") (NYSE: OWL), a leading alternative asset manager, today announced that Owl Rock Technology Income Corporation ("ORTIC" or the "Fund"), a non-traded business development company (BDC) broke escrow with approximately $534 million in net equity proceeds.
ORTIC has approximately $2 billion in committed capital at launch, including leverage. The Fund will be managed by Owl Rock, a division of Blue Owl.
ORTIC intends to capitalize on the strength of Owl Rock's direct lending platform which has closed over 340 deals and manages $39.2 billion in assets. Since inception, the platform has sourced proprietary investment opportunities with $51.2 billion in gross originations, including more than $19 billion in technology-related investments as of December 31, 2021.
ORTIC seeks to provide individual investors attractive current-income along with the potential for capital appreciation by originating and making investments in market leading technology-related companies based primarily in the United States. The Fund will focus on debt and other income producing securities, offering a differentiated opportunity to invest in the technology sector.
Doug Ostrover, Blue Owl CEO and Co-Founder, and Marc Lipschultz, Co-President and Co-Founder of Blue Owl said: "The launch of ORTIC provides investors with a high-quality way to access investments in leading private technology companies that were previously only available to large institutions. This access to the technology sector is especially important as we enter periods of increased market volatility. As the alternative asset management industry continues to broaden its reach beyond institutions, we look forward to leveraging our historical strength in the private wealth channels to remain a leader in providing institutional quality solutions to meet the growing market demand for access to private investments."
Sean Connor, President of Blue Owl Securities said: "ORTIC combines our expertise in technology lending, as demonstrated by the strong performance of Owl Rock's existing technology focused BDC, Owl Rock Technology Finance (ORTF), and in creating and managing perpetual products that can offer compelling and differentiated solutions for income-focused investors. We are excited to build off the success of our previous BDC launches and continue to deliver individual investors access to Owl Rock's institutional direct lending platform."
The prospectus for ORTIC can be found here.
About Blue Owl Capital Inc.
Blue Owl is a global alternative asset manager with $94.5 billion in assets under management as of December 31, 2021. Anchored by a strong permanent capital base, the firm deploys private capital across Direct Lending, GP Solutions and Real Estate strategies on behalf of Institutional and Private Wealth clients. Blue Owl's flexible, consultative approach helps position the firm as a partner of choice for businesses seeking capital solutions to support their sustained growth. The firm's management team is comprised of seasoned investment professionals averaging more than 25 years of experience building alternative investment businesses. Blue Owl employs over 350 people across nine offices globally. For more information, please visit us at www.blueowl.com.
Important Information and Risk Factors
An investment in ORTIC is speculative and involves a high degree of risk, including the risk of a substantial loss of investment, as well as substantial fees and costs, all of which can impact an investor's return. The following are some of the risks involved in an investment in ORTIC's common shares; however, an investor should carefully consider the fees and expenses and information found in the "Risk Factors" section of the ORTIC prospectus before deciding to invest:
An investor should not expect to be able to sell its shares regardless of how ORTIC performs. An investment in shares of ORTIC's common stock is not suitable for any investor that needs access to the money it invests. ORTIC does not intend to list its shares on any securities exchange and does not expect a secondary market in its shares to develop. While ORTIC intends to continue to conduct quarterly tender offers, it is not required to do so and may suspend or terminate its share repurchase program at any time.
Distributions on ORTIC's common stock may exceed ORTIC's taxable earnings and profits. Therefore, portions of the distributions that ORTIC pays may represent a return of capital for U.S. federal tax purposes. Significant portions of distributions may not be based on investment performance. ORTIC has not established any limit on the extent to which it may use offering proceeds to fund distributions. In addition, distributions may also be funded in significant part from the waiver and/or deferral of fees and reimbursements by ORTIC's affiliates.
The payment of fees and expenses will reduce the funds available for investment, the net income generated, the funds available for distribution and the book value of the common shares. In addition, the fees and expenses paid will require investors to achieve a higher total net return in order to recover their initial investment. Please see ORTIC's prospectus for details regarding its fees and expenses.
ORTIC intends to invest in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated.
ORTIC's investment adviser and its affiliates face a number of conflicts with respect to ORTIC, including managing other investment entities raising money for and managing future investment entities that make the same types of investments as those ORTIC targets.
The incentive fee payable by ORTIC to its investment adviser may create an incentive for the adviser to make investments on ORTIC's behalf that are risky or more speculative than would be the case in the absence of such compensation arrangements. ORTIC may be obligated to pay its investment adviser incentive fees even if ORTIC incurs a net loss due to a decline in the value of its portfolio and even if its earned interest income is not payable in cash.
The information provided above is not directed at any particular investor or category of investors and is provided solely as general information about Blue Owl products and services to regulated financial intermediaries and to otherwise provide general investment education. No information contained herein should be regarded as a suggestion to engage in or refrain from any investment-related course of action as ORTIC and its affiliates are not undertaking to provide impartial investment advice, act as an impartial adviser, or give advice in a fiduciary capacity with respect to the materials presented herein.
All investments are subject to risk, including the loss of the principal amount invested. These risks may include limited operating history, uncertain distributions, inconsistent valuation of the portfolio, changing interest rates, leveraging of assets, reliance on the investment advisor, potential conflicts of interest, payment of substantial fees to the investment advisor and the dealer manager, potential illiquidity and liquidation at more or less than the original amount invested. Diversification will not guarantee profitability or protection against loss. Performance may be volatile, and the NAV may fluctuate.
This is for informational purposes only and is not an offer or a solicitation to sell or subscribe for any fund and does not constitute investment, legal, regulatory, business, tax, financial, accounting or other advice or a recommendation regarding any securities of Owl Rock, of any fund or vehicle managed by Owl Rock, or of any other issuer of securities. Only the ORTIC Prospectus can make such an offer. Neither the Securities and Exchange Commission, the Attorney General of the State of New York nor any state securities commission has approved or disapproved of these securities or determined if the Prospectus is truthful or complete. Any representation to the contrary is a criminal offense. Capital commitments may be solicited through Owl Rock Capital Securities LLC, Member of FINRA/SIPC, as Dealer Manager.
Copyright© Blue Owl Capital Inc. 2022. All rights reserved.
Investor Contact
Ann Dai
Head of Blue Owl Capital Investor Relations
Blueowlir@blueowl.com
Dana Sclafani
Head of Owl Rock BDC Investor Relations
212-651-4705
owlrockir@blueowl.com
Media Contact
Prosek Partners
David Wells / Nick Theccanat
Pro-blueowl@prosek.com
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SOURCE Blue Owl Capital Inc. | https://www.whsv.com/prnewswire/2022/05/02/blue-owl-capital-launches-owl-rock-technology-income-corporation-breaks-escrow-with-534-million-net-equity-proceeds/ | 2022-05-02T13:19:05Z |
The Hollywood-Based Marketing Agency Continues to Elevate and Expand its Team Across all Levels as It Enters Its Tenth Year
LOS ANGELES, May 2, 2022 /PRNewswire/ -- BOND, the leading creative marketing agency in the entertainment space, announced today it has promoted more than 20 team members in 2022, while also adding more than 60 people to the team in the past twelve months, signaling continued growth as a result of expanded offerings, strong industry relationships and best-in-class creative as the company enters its tenth year.
Despite the pressures of the pandemic and a volatile employment market, the award-winning, fully-integrated creative agency avoided any furloughs or lay-offs and has significantly increased headcount and offerings for clients, cementing themselves as the all-service destination for entertainment marketing needs, including strategy, A/V, digital and social media, web development, production, 3D, visual identity, print design, branding, motion graphics and more. BOND has expanded its teams with an increased focus on gaming, streaming, and insight and audience sentiment, all significant areas of growth for the company.
Among those promoted recently include Darnell Brisco, EVP and Head of Growth, a role in which Brisco will identify new ways to build on the best of BOND, while creating new opportunities that are unique to BOND's fully-integrated operations; Ben Andron, EVP and Head of A/V, for which he will continue to helm BOND's trailer division; Kathleen Philips, Patricio Hoter, Ali Comperchio, Brent Rockswold and Chris LaMons, all elevated to Creative Directors of A/V; and Peter Soldinger, who has been tapped as VP and Head of Creative Strategy.
"This is such a special moment for all of us here at BOND, thriving on so many levels in the wake of such a uniquely challenging past two years. We've purposefully been an extremely flat organization this first decade and it speaks volumes about the special people that make up this community that the time has come to stretch and grow, together." said Seth Phillips Althoff, Co-Founder and CEO of BOND. "We pride ourselves on being a place that empowers artists and nurtures creativity, and we are so grateful that our amazing team has continuously delivered exceptional work for our clients. As we move into our tenth year and expand our capabilities to really know and excite our audiences, the possibilities are endless."
Additional recent promotions at BOND include:
- Drea Althoff to VP, Creative Director
- Ty Budde to VP, Accounts
- Brad Burris to VP, Creative Director
- Nadare Izadi to VP, Platforms and Packaging
- Russell Lee to VP, Creative Director
- Joey Samaniego to VP, Creative Director
- Jessica Yi to VP, Finance
- Michael Elins, Creative Director, Print Finishing
- Daniel Landerman, Creative Director, Illustration
- David Lowe, Sr AE, Print
- Jon Milano, Senior Director, A/V Production
- Eunice Ocampo, AE, Platforms + Packaging
- Sebastian Ruffini, ACD, Print
- Autumn Turkel, ACD, Illustration
- James Van Leer, Senior Director, Print Production
- Tam Vo, ACD, Print
ABOUT BOND
Founded in 2012 by Seth Phillips Althoff, Patrick Dillon, Luke Silver-Greenberg and Brian Setzer, BOND works with studios, streamers, networks, as well as video game publishers, offering a full array of creative possibilities. Built for the future, the agency has become known for its seamless integration across all mediums and offerings, blending artful creative, data-driven insights, along with passionate, dedicated client service. BOND is the reigning Clio Awards "Entertainment Agency of the Year" since 2019. Their work includes some of the top films, shows and video games of the past decade, including The Matrix: Resurrections, the Jurassic World franchise, Star Wars, House of Gucci, Game of Thrones, Mad Max, Euphoria, Spider-Man, Pose, Cobra Kai, Wonder Woman, The Boys, Avengers: Endgame, The Batman, Finch, the Borderlands franchise, and Battlefield 2042. For more information, visit WeAreBOND.com.
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SOURCE BOND | https://www.whsv.com/prnewswire/2022/05/02/bond-announces-key-promotions-across-all-divisions/ | 2022-05-02T13:19:11Z |
This week, ApexBrasil and its partner organizations sponsor more than 40 Brazilian oil & gas companies at the annual global Offshore Technology Conference
HOUSTON, May 2, 2022 /PRNewswire/ -- ApexBrasil, the Brazilian Trade and Investment Promotion Agency, will partner with Brazil's Energy Research Office (EPE), The Brazilian Petroleum and Gas Institute (IBP), The Brazilian National Agency of Petroleum, Natural Gas, and Biofuels (ANP), Petrobras, and the Federation of the Industries of Rio De Janeiro State (FIRJAN) to highlight the country's burgeoning leadership in the sector at the Offshore Technology Conference (OTC) in Houston, Texas. As one of the largest tradeshows held annually in the U.S., OTC offers industry professionals the valuable opportunity to develop long-lasting business partnerships and learn about the latest advancements, challenges, and opportunities in the oil and gas sector.
"Brazil is already one of the top 10 largest oil producers/exporters in the world and, during OTC 2022, the country will highlight a broad range of opportunities it sees for growth across the areas of exploration and production," said Adalberto Netto, Chief Investment Officer for ApexBrasil. "Of particular interest to foreign direct investors will be Brazil's diversified energy mix, with renewable energy accounting for 48% of the country's energy structure, as well as auctions in the coming months and years for Brazil's unique pre-salt layer. In fact, we predict that 50 billion barrels of high-quality crude oil can be extracted from the pre-salt layers alone, which is a volume four times greater than the current national reserves. Brazil is an up-and-coming oil and gas powerhouse that has put government-level measures in place to further encourage partnerships in a well-rounded portfolio of natural gas, downstream infrastructure projects (ports, refineries, etc.), and supply chain opportunities."
Thousands of attendees from more than 130 countries, including industry thought leaders, investors, buyers, and entrepreneurs, will have the opportunity to visit the Brazilian Pavilion (Booths 917, 933, 1032, 1114, and 1129) at the NRG Center from May 2-5, and learn about the unique and innovative products produced by the 42 Brazilian oil and gas companies that will be exhibiting onsite. From smart artificial intelligence (AI) monitoring solutions and other digital solutions for offshore energy companies, to innovative technological repairs for addressing corrosion, to advanced geological analysis and petrophysics, some of the companies in attendance include but are not limited to:
- Altave: Altave provides real-time monitoring through video surveillance and AI.
- Biosolvit: Biosolvit is a biotechnology company focused on sustainability. The company is focused on three main areas, including: research and development of new materials, industrialization of products for the preservation of flora, and industrialization of products for the preservation of water.
- Endserv: EndServ specializes in the development of technological solutions for repairs in pipes that move a variety of chemical fluids.
- Geowellex: Geowellex offers solutions in geological monitoring, mud logging, and formation assessment.
- Intelie: Intelie's LIVE®, Operational Intelligence software combines cutting-edge AI with human intelligence to transform data into results.
- Phdsoft: Phdsoft's flagship product, PhDC4D®, stands alone as a robust solution that accurately predicts the degradation and corrosion of complex assets over time.
- R1 Engineering: R1 Engineering offers integrated solutions for the lifecycle management of industrial physical assets, from visual inspections in the field, drones, and NDTs to cutting-edge simulation technologies.
- Rio Analytics: Rio Analytics is a technology company focused on the development of AI applications to predict failures of industrial assets.
- The Insight: The Insight develops AI solutions to ensure greater operational efficiency and optimize costs for power and gas companies.
ApexBrasil works to promote Brazilian products and services abroad, and to attract foreign investment to strategic sectors of the Brazilian economy. Oil and gas is a key priority area for ApexBrasil and Brazil as a country. Consider the measures Brazil's oil and gas ministry and governing bodies have put in place to maximize the 149 state and federal auctions and concessions available to foreign investors this year, which represent more than USD $47 billion in value – such as the introduction of the Open Acreage process, which is a special way of acquiring exploratory blocks and mature fields to ensure continuous exploration of blocks and areas. Additionally, the establishment of the Brazilian Petroleum Partnerships (BPP) program fosters partnerships between Brazilian and foreign oil & gas companies, promoting the integration of Brazil into the global supply chain. To learn more about other trade sectors ApexBrasil supports, visit: http://www.apexbrasil.com.br/en/trade-sectors.
About ApexBrasil
The Brazilian Trade and Investment Promotion Agency (ApexBrasil) works to promote Brazilian products and services abroad, and to attract foreign investment to strategic sectors of the Brazilian economy. ApexBrasil organizes several initiatives aiming to promote Brazilian exports abroad. The Agency's efforts comprise trade and prospective missions, business rounds, support for the participation of Brazilian companies in major international trade fairs, arrangement of technical visits of buyers and opinion makers to learn about the Brazilian productive structure, and other select activities designed to strengthen the country's branding abroad. ApexBrasil also plays a leading role in attracting foreign direct investment (FDI) to Brazil, by working to identify business opportunities, promoting strategic events and lending support to foreign investors willing to allocate resources in Brazil. ApexBrasil is an agency linked to the Brazilian Foreign Ministry (Itamaraty).
Media Contact
Savanna Fuller
Ruder Finn – PR on behalf of ApexBrasil in the U.S.
Savanna.Fuller@ruderfinn.com
+1-808-317-8758
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SOURCE ApexBrasil | https://www.whsv.com/prnewswire/2022/05/02/brazil-showcases-oil-amp-gas-companies-technological-innovations-opportunities-foreign-investors-during-prominent-international-industry-trade-show/ | 2022-05-02T13:19:17Z |
- CenterState East Logistics Park earns recognition by NAIOP's Tampa Chapter
LAKELAND, Fla., May 2, 2022 /PRNewswire/ -- Brennan Investment Group, LLC, was recognized for "Industrial Project of the Year" by the Tampa Chapter of NAIOP for its 1,011,697 square feet state-of-the-art distribution space on the I-4 corridor. The project, CenterState East Logistics Park (CLP), is part of an expanding distribution park in Lakeland FL. It comprises two campuses (CLP East and CLP West) midway between the Tampa and Orlando. At CLP West, 1,045,412 square feet was developed and leased to a major beverage distributor. CLP East Building 400 delivered 1,011,697 square feet in July 2021. These state-of-the-art industrial buildings total over 2 million square feet and were initiated without a tenant, making this the biggest speculative commitment in Central Florida.
Both facilities feature 40 foot clear height and are located in the epicenter of the I-4 Corridor, midway between Tampa and Orlando. This location is key for distribution and logistics firms where as many as 20 million people can be reached within a 24-hour drive. The property and the park were designed to serve the significant demand for manufacturing, assembly, and distribution uses throughout Florida. Brennan master planned CenterState Logistics Park.
Bob Krueger, Brennan's Southeast Managing Principal, is responsible for the oversight of CenterState Logistics Park and is one of the most accomplished development professionals in the Florida market. Mr. Krueger, recently inducted into the NAIOP Hall of Fame, has been named NAIOP Developer of the Year on three previous occasions in 2006, 2007, and 2018. Mr. Krueger pioneered I-4 "big-box development," building First Park at Bridgewater, in 2004, the first major Class A development built in Lakeland.
Brennan has emerged as one of the leading developers in the United States with 15 million square feet planned or under construction. "Our allocation of capital to industrial development follows the secular trends of technology-induced demand. We've witnessed that through e-commerce, driving distribution absorption, and increasingly from robotics creating manufacturing space demand," observed Michael Brennan, Brennan's Managing Principal and Chairman. "We capitalize on these trends by selecting great in-fill sites, building state-of-the-art buildings and staffing our regions with local market experts."
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired or developed $5 billion in industrial real estate in 30 states. The company's current portfolio spans 27 states and encompasses approximately 46 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The company has 11 regional offices throughout the United States and the firm's management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.
Media Contact:
Ursula Walendzewicz
uwalendzewicz@brennanllc.com
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SOURCE Brennan Investment Group, LLC | https://www.whsv.com/prnewswire/2022/05/02/brennan-awarded-industrial-project-year-naiops-best-best-event/ | 2022-05-02T13:19:24Z |
Louisville native and multi-Grammy nominated Rap sensation, Jack Harlow selected as this year's Riders Up presenter
LOUISVILLE, Ky., May 2, 2022 /PRNewswire/ -- Churchill Downs Racetrack today announced that power vocalist Brittney Spencer will sing the national anthem at the 148th Kentucky Derby presented by Woodford Reserve on Saturday, May 7, 2022.
The announcement comes after Spencer's first CMT nomination and performance at the Country Music Association (CMA) Awards. Spencer's singing of "The Star-Spangled Banner" will be in front of the approximately 150,000 fans expected to be in attendance at this year's race. The performance will take place just after 5:00 p.m. EDT and be broadcast live as part of NBC's Kentucky Derby coverage.
"We are so excited to have Brittney Spencer help us kick off this year's Run for the Roses by joining us as the coveted national anthem singer," said Mike Anderson, President of Churchill Downs Racetrack. "As an incredible rising talent breaking through in country music right now, we cannot wait to amplify her voice on the Kentucky Derby stage and hear her rendition of The Star-Spangled Banner."
Brittney is the twelfth major artist to perform the national anthem at the iconic horse race. Past artists who have performed include Tori Kelly (2021), Jennifer Nettles (2019), Pentatonix (2018), Harry Connick, Jr. (2017), Lady A (2016), Josh Groban (2015), Jo Dee Messina (2014), Martina McBride (2013), and Mary J. Blige (2012).
Brittney Spencer is paving her own path in the music industry and making major waves in the process. A People Magazine "Hollywood One to Watch," the Baltimore native is known for her free spirit and standout ability to mold life, truth and wild imagination into songs. Her recent single "Sober & Skinny" has garnered praise from music critics all over and coming up this year she's opening for Willie Nelson, Megan Thee Stallion, Maren Morris, Brandi Carlile, and more.
Additionally, Louisville native and chart-topping rapper, Jack Harlow, has been granted the special honor of commanding the Kentucky Derby jockeys to mount their horses as the announcer for this year's Riders Up.
For More Information on Brittney Spencer:
Official Website: https://www.brittneyspencer.com/
YouTube Page: https://www.youtube.com/c/BrittneySpencer
Facebook: https://www.facebook.com/brittneyspencermusic
Twitter: https://twitter.com/BrittNicx
Instagram: https://www.instagram.com/brittneyspencer/
ABOUT THE KENTUCKY DERBY
The $3 million Kentucky Derby takes place on the first Saturday in May at historic Churchill Downs in Louisville, Kentucky. Inaugurated in 1875, the legendary 1 1/4-mile race for 3-year-olds is the longest continually-held major sporting event in the United States and the first leg of horse racing's Triple Crown series. Also known as "The Run for the Roses" and "The Most Exciting Two Minutes in Sports," the Kentucky Derby is the most attended horse race in the nation. This year, the Kentucky Derby will take place on May 7, 2022. For more information, please visit www.KentuckyDerby.com.
About Churchill Downs Racetrack
Churchill Downs Racetrack ("CDRT"), the world's most legendary racetrack, has been the home of The Kentucky Derby, the longest continually held annual sporting event in the United States, since 1875. Located in Louisville, CDRT features a series of themed race days during Derby Week, including the Kentucky Oaks, and conducts Thoroughbred horse racing during three race meets in the Spring, September, and the Fall. CDRT is located on 175 acres and has a one-mile dirt track, a 7/8-mile turf track, a stabling area, and provides seating for approximately 60,000 guests. The saddling paddock and the stable area has barns sufficient to accommodate 1,400 horses and a 114-room dormitory for backstretch personnel. CDRT also has a year-round simulcast wagering facility. www.ChurchillDowns.com.
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SOURCE Churchill Downs Racetrack | https://www.whsv.com/prnewswire/2022/05/02/brittney-spencer-sing-national-anthem-148th-kentucky-derby/ | 2022-05-02T13:19:30Z |
SAN JOSE, May 2, 2022 /PRNewswire/ -- Broadcom Inc. (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced it will report its second quarter fiscal year 2022 financial results and business outlook on Thursday, June 2, 2022 after the close of the market. Broadcom's management will host a conference call at 2:00 p.m. Pacific Time on the same day to discuss these results and business outlook.
Date: Thursday, June 2, 2022
Time: 2:00 PM (PT); 5:00 PM (ET)
To Listen via Telephone: Preregistration is required by the conference call operator. Please preregister by clicking here. Upon registering, you will be emailed a dial-in number, direct passcode and unique PIN.
To Listen via Internet: The conference call can be accessed live online in the Investors section of the Broadcom website at https://investors.broadcom.com/.
Replay: A telephone playback of the conference call can be accessed for one week following the call by dialing: (855) 859-2056; International + 1 (404) 537-3406; Passcode: 5189895; or through the Investors section of the Broadcom website at https://investors.broadcom.com/.
About Broadcom Inc.
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation. For more information, go to https://www.broadcom.com.
Contact:
Broadcom Inc.
Ji Yoo
Investor Relations
408-433-8000
investor.relations@broadcom.com
(AVGO-Q)
SOURCE Broadcom Inc.
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SOURCE Broadcom Inc. | https://www.whsv.com/prnewswire/2022/05/02/broadcom-inc-announce-second-quarter-fiscal-year-2022-financial-results-thursday-june-2-2022/ | 2022-05-02T13:19:37Z |
World's largest cruise company honored for fourth consecutive year on Forbes' annual ranking of Best Employers for Diversity, representing the top 2% of U.S. companies with over 1,000 employees
MIAMI, May 2, 2022 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL;NYSE: CUK), the world's largest cruise company, today announced it was named for the fourth consecutive year as one of the Best Employers for Diversity for 2022 by Forbes, a leading source of business news worldwide.
Presented by Forbes and Statista Inc., a leading statistics portal and industry ranking provider, the prestigious annual listing honors the top 500 U.S. employers for diversity from over 20 major industries, including travel and leisure. In Forbes' fourth annual survey, Carnival Corporation – whose nine popular cruise line brands include Carnival Cruise Line, Holland America Line, Princess Cruises and Seabourn in the U.S. along with AIDA Cruises, Cunard, Costa Cruises, P&O Cruises UK and P&O Cruises Australia –was ranked among the top 15 employers in travel and leisure. The full list of Best Employers for Diversity for 2022 is available on the Forbes website.
"At Carnival Corporation, diversity of thinking is a business imperative and we fully embrace the importance of fostering a diverse workforce at all levels, driving innovation and an inclusive and supportive work environment for all of our colleagues," said Roger Frizzell, chief communications officer for Carnival Corporation. "We are honored to again be recognized by Forbes as a top employer for diversity in the U.S., as it underscores our highest responsibility and top priority, which is compliance, environmental protection and the health, safety and well-being of our guests, the people in the communities we visit, and our shipboard and shoreside personnel."
The Forbes Best Employers for Diversity list was determined through an independent survey of over 60,000 U.S. workers at companies with at least 1,000 employees in their U.S. operations. Participants were asked to anonymously give their opinions on a series of statements regarding age, gender, ethnicity, disability, LGBTQIA+ and general diversity in their current workplace.
Respondents of minority groups were also given the chance to evaluate other employers in their respective industries that stand out either positively or negatively with regard to diversity. Based on these direct and indirect employee recommendations, and an evaluation of company diversity among top executives and the board, along with diversity engagement indicators, Forbes recognized only the top 500 companies out of thousands of organizations, representing the top 2% of all U.S. companies with over 1,000 employees.
This recognition as a top employer for diversity in the U.S. builds on a series of recognitions Carnival Corporation has earned for its companywide operations and dedication to diversity, equity and inclusion. Most recently, Carnival Corporation was honored as one of the Best Companies for Latinos by Latino Leaders Magazine for 2022 and earned a perfect score on the Human Rights Campaign Foundation's 2022 Corporate Equality Index, designating the company as a Best Place to Work for LGBTQ+ Equality for the sixth consecutive year.
The company was also recognized by Forbes as one of the World's Best Employers and one of the World's Top Female-Friendly Companies in 2021, in addition to being named a Glassdoor Employees' Choice Award Winner honoring the best 100 U.S. places to work. Also in 2021, Carnival Corporation was named as one of America's Most Responsible Companies for its commitment to corporate social responsibility leadership by Newsweek.
About Carnival Corporation & plc
Carnival Corporation & plc is one of the world's largest leisure travel companies with a portfolio of nine of the world's leading cruise lines sailing to all seven continents. With operations in North America, Australia, Europe and Asia, its portfolio features Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, P&O Cruises (UK) and Cunard.
Additional information can be found on www.carnivalcorp.com, www.carnival.com, www.princess.com, www.hollandamerica.com, www.seabourn.com, www.pocruises.com.au, www.costacruise.com, www.aida.de, www.pocruises.com and www.cunard.com.
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SOURCE Carnival Corporation & plc | https://www.whsv.com/prnewswire/2022/05/02/carnival-corporation-again-named-forbes-list-best-employers-diversity/ | 2022-05-02T13:19:45Z |
Brand is also celebrating Cinco de Mayo all week by offering a $0 delivery fee
NEWPORT BEACH, Calif., May 2, 2022 /PRNewswire/ -- Chipotle Mexican Grill (NYSE: CMG) today announced it is testing Garlic Guajillo Steak at 102 participating restaurants in Denver, Indianapolis, and Orange County, Calif., starting tomorrow, May 3, for a limited time. The brand is also offering a $0 delivery fee with promo code DELIVER at U.S. restaurants from May 2 through May 6.
A New Way to Experience Steak at Chipotle
Building upon the brand's recent success with menu innovations including Smoked Brisket and Pollo Asado, Chipotle is testing a bold new flavor of steak in select markets. Garlic Guajillo Steak features the exciting and dynamic combination of garlic and guajillo peppers, brought to life with real ingredients and classic cooking techniques. Tender cuts of Responsibly Raised® steak are seasoned with garlic and guajillo peppers, grilled fresh on the plancha in small batches and hand cut into succulent bites. It's a whole new dimension of steak, finished with fresh lime and hand-chopped cilantro.
"Garlic Guajillo Steak is full of flavor with a perfect little kick that complements our 53 real ingredients," said Chris Brandt, Chief Marketing Officer. "Menu innovation is an ongoing priority at Chipotle, and we are always looking for new flavors to give our fans new ways to Chipotle."
Garlic Guajillo Steak will be available at participating restaurants in Denver, Indianapolis, and Orange County, Calif., starting May 3 for a limited time.
Bring the Party All Week with $0 Delivery Fee Offer
Starting today, Chipotle is offering a $0 delivery fee nationwide in celebration of Cinco de Mayo. Fans ordering digitally via the Chipotle app or Chipotle.com can use promo code DELIVER at checkout to receive a $0 delivery fee through May 6.
"We are constantly working to level up our experience through digital access," said Tressie Lieberman, Vice President, Digital Marketing and Off-Premise. "Fans love to celebrate Cinco de Mayo with Chipotle, and we're supercharging the holiday with an extended $0 delivery fee offer to fuel parties all week long."
*$0 Delivery Fee Legal Terms
Higher menu prices are charged for delivery; additional service fees applied at checkout as well. Available May 2 through May 6, 2022 only, within Chipotle's delivery areas from participating U.S. locations, during normal operating hours for such locations. Use of promo code DELIVER at time of order is required. Minimum order $10/maximum order $200, each excluding tax and fees. Deliveries and redemption are subject to availability. Offer is not valid on catering or Burritos by the Box orders. Redemptions of Chipotle Rewards and other promotional offers may be included in a qualifying delivery order but do not count towards satisfaction of minimum purchase requirements. Valid only at http://chipotle.com or on the Chipotle app; not valid on orders placed via third-party delivery platforms. Chipotle reserves the right to modify or terminate this offer at any time without notice. Additional restrictions may apply; void where prohibited.
About Chipotle
Chipotle Mexican Grill, Inc. (NYSE: CMG) is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. Chipotle had over 3,000 restaurants as of March 31, 2022, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. Chipotle is ranked on the Fortune 500 and is recognized on the 2022 list for Fortune's Most Admired Companies. With over 100,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. For more information or to place an order online, visit WWW.CHIPOTLE.COM.
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SOURCE Chipotle Mexican Grill, Inc. | https://www.whsv.com/prnewswire/2022/05/02/chipotle-tests-garlic-guajillo-steak-select-markets/ | 2022-05-02T13:19:51Z |
NEW YORK, May 2, 2022 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: CSCW) ("Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, announces today that their La Liga partner team Villarreal CF ("Villarreal") will be facing Liverpool FC on the evening of 3 May at 19:00 UTC in the battle for a spot in the Champions League finals. Despite losing 2-0 in the first leg, the team remains calm and poised as they undergo intense preparations ahead of the second leg. Villarreal has the full support of Color Star behind them during each and every match.
Villarreal is currently amongst the best La Liga teams. This year, the club, dubbed the Yellow Submarine, has achieved its best result in the Champions League since reaching the semi-finals in 2006. In fact, Villarreal even managed to maintain a win streak earlier in the tournament by eliminating heavyweights such as Juventus and Bayern Munich, much to the amusement of the fans and the world. As Villarreal's prominence and reputation grows, Color Star, as their global partner, has also been seeing growth in their own fame and reputation around the world, and especially in the European market. This year has seen extensive efforts by Color Star to expand into the European market; their metaverse platform Color World has received the attention of many international brands and enterprises who have been joining the platform one by one to set up their own shops and headquarters in the virtual world. As an application delivering an experience focused on AI and celebrity entertainment, Color World has invited numerous top international celebrities and teams involved in sports, music, and arts to join the platform ("Color Celebrities"). On the platform, these Color Celebrities can record and sell their masterclasses, as well as have their virtual avatars and merchandise created by the Color Star team to drive the sense of immersion and interaction. Villarreal CF will also be joining the platform shortly; the masterclasses conducted by the players will be released on the platform in the future for all their fans and the world to study.
In addition to the online operations, Color Star will also cooperate with the team to create offline content. In addition to the Champions League tournament currently underway, the Color Star team will also accompany the team to more matches in the future. Lucas Capetian, the CEO of Color Star, said: "Our choice to partner with Villarreal in February this year has certainly proved to be the right one as we have seen a recent surge in user registrations on our platform while our market capitalization has maintained a steady and growing momentum despite many uncertainties in the global market. It is possible that there is a correlation. As an international company, we will not just simply expand into a certain region. We will also expand into the Middle East and Asia, and we will continue to invite more outstanding teams and celebrity artists onto our colorful star roster. The traditional market law can no longer restrict our business development, the conversion and backflow of online and offline members and fans will certainly bring more wealth for the enterprise."
About Color Star Technology Co., Ltd.
Color Star Technology Co., Ltd. (Nasdaq: CSCW) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color China Entertainment Ltd. and CACM Group NY, Inc. The Company's online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com.
Forward-Looking Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally where CSCW conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.
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SOURCE Color Star Technology Co., Ltd. | https://www.whsv.com/prnewswire/2022/05/02/color-stars-partner-villarreal-cf-prepares-face-liverpool-second-leg-champions-league-semi-final-tie/ | 2022-05-02T13:19:57Z |
EUCLID, Ohio, May 2, 2022 /PRNewswire/ -- US Lighting Group, Inc. (OTC: USLG) today announced that Cortes Campers, LLC, a wholly-owned subsidiary, received an initial purchase order worth $1.5 million from Outback RV, its new dealer in Denton, Texas. Camper deliveries to Texas are expected to start during the second half of 2022; additional terms were not disclosed.
"Cortes Campers is delighted to announce this initial $1.5 million order from Outback RV, our exclusive dealer in the state of Texas," said Anthony Corpora, CEO and President of US Lighting Group. "Having a dealer in Texas allows us to expand our Cortes brand to the South-Central part of the United States, where we see a great deal of demand. Since December 2021, we have received $6.8 million in purchase orders from our Cortes Campers dealers in North America and we believe there are many more opportunities for growth going forward."
"In addition, given the current high level of market interest in our 17-foot RV travel trailer, we have created new tooling to dramatically lower labor costs and increase our ability to produce more campers in the coming months, with our focus on a goal of 20 campers per week by the fourth quarter," concluded Mr. Corpora.
"Outback RV of Texas Co is a family owned, boutique style dealership located in Denton, Tx. Our Company is extremely proud of the overland and teardrop camper trailers we sell, and the off-road community we attract and love! Outback RV of Texas is very excited to carry the Cortes Campers line, as it rounds out the vision and direction towards which our company is heading," said Laura Kress, Owner of Outback RV of Texas.
Cortes Campers manufactures a 100% molded fiberglass 17-ft RV travel trailer and sells it through a dealer network to the RV marketplace nationwide.
About US Lighting Group, Inc.
US Lighting Group, Inc. (OTC: USLG) has three subsidiaries, Cortes Campers, LLC, a manufacturer of molded fiberglass travel trailers and campers, Fusion X Marine, LLC, a boat manufacturer, and Futuro Houses, LLC, a fiberglass house manufacturer. The Company, its subsidiaries and affiliate, have manufacturing and R&D facilities in Cleveland, Ohio.
For additional information: uslightinggroup.com
About Cortes Campers, LLC
Cortes Campers is a revolutionary manufacturer of state-of-the-art recreational vehicles utilizing the highest quality marine materials to create lighter weight, stronger, and more durable RV travel trailers and campers.
For additional information: cortescampers.com
Forward-Looking Statements
Certain statements in this news release, including, but not limited to, reference to orders, sales goals, design effects, growth of the production and industries, may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. Statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are typically, but not always, identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements.
Investor Relations Contact:
Chris Witty
646-438-9385
cwitty@darrowir.com
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SOURCE US LIGHTING GROUP | https://www.whsv.com/prnewswire/2022/05/02/cortes-campers-receives-15-million-purchase-order-outback-rv-texas/ | 2022-05-02T13:20:03Z |
SÃO PAULO, May 2, 2022 /PRNewswire/ -- Cosan S.A. ("Cosan") announced today the expiration of its previously announced solicitation (the "Consent Solicitation") of consents (the "Consents") and receipt of the requisite Consents from holders (the "Holders") of Cosan's outstanding 5.500% Notes due 2029 (the "Notes") to effect a certain amendment to the indenture governing the Notes (the "Indenture"), as described in the Consent Solicitation Statement, dated April 25, 2022 (the "Consent Solicitation Statement").
As of 5:00 PM, New York City time, on April 29, 2022 (the "Expiration Date"), the Holders of at least a majority of the aggregate outstanding principal amount of the Notes had validly delivered and had not validly revoked Consents to the Proposed Amendment (the "Requisite Consents"). As of the Expiration Date, Cosan had accepted all Consents validly delivered pursuant to the Consent Solicitation. Accordingly, Cosan and the trustee will enter into a supplemental indenture to the Indenture effecting the Proposed Amendment (as defined in the Consent Solicitation Statement).
Cosan will pay to Holders who delivered valid and unrevoked Consents to the Proposed Amendment on or prior to the Expiration Date (as defined in the Consent Solicitation Statement) (the "Consenting Holders") an amount equal to U.S.$1.25 per U.S.$1,000 aggregate principal amount of the Notes (the "Consent Payment") to The Depository Trust Company ("DTC") for the benefit of the Consenting Holders, subject to the terms and conditions set forth in the Consent Solicitation Statement. Cosan expects to pay, or cause to be paid, the Consent Payment on May 3, 2022 (the "Settlement Date"). No accrued interest will be paid in respect of the Consent Payment.
Citigroup Global Markets Inc. ("Citi") and Goldman Sachs & Co. LLC ("Goldman") acted as the Solicitation Agents for the Consent Solicitation. D.F. King & Co., Inc. acted as the Information and Tabulation Agent for the Consent Solicitation. Questions or requests for assistance related to the Consent Solicitation or for additional copies of the Consent Solicitation Statement may be directed to Citi at +1 (212) 723-6106 (banks and brokers) and +1 (800) 558-3745 (all others, toll free), to Goldman at +1 (212) 357-1452 (banks and brokers) and +1 (800) 828-3182 (all others, toll free), or to D.F. King & Co., Inc. at +1 (212) 269-5550 (banks and brokers), +1 (800) 967-5084 (all others, toll free) or by email at cosan@dfking.com. The Consent Solicitation Statement is available at: www.dfking.com/cosan. Holders may also contact their broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Consent Solicitation.
About Cosan
Cosan is a publicly-held company incorporated under the laws of Brazil on July 8, 1966 for an indefinite term, and has businesses in strategic sectors to Brazil's growth and development, such as energy and logistics. Cosan's headquarters and principal executive offices are located at Av. Brigadeiro Faria Lima, 4,100 – 16th floor, São Paulo – SP, 04538-132, Brazil, telephone: +55 11 3897-9797. The public filings of Cosan with the SEC and the CVM (other than exhibits to such documents unless such exhibits are specifically incorporated by reference) are also available to the public free of charge through its website, https://ri.cosan.com.br/. You may also request a copy of Cosan's filings at no cost by contacting Cosan at its executive offices.
Forward-Looking Statements
Disclosures in this press release contain forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include statements regarding the consummation of the Consent Solicitation, including the timing thereof, the Proposed Amendment and the execution of the Supplemental Indenture. These statements are based on certain assumptions made by Cosan based on its management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Cosan, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks set forth in reports filed by Cosan with the Brazilian Securities Commission (Comissão de Valores Mobiliários) and the U.S. Securities and Exchange Commission (the "SEC"). Any forward-looking statement applies only as of the date on which such statement is made and Cosan does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Cosan S.A.
Investor Relations:
Ricardo Lewin, Chief Financial and Investor Relations Officer, Cosan S.A.
ri@cosan.com
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SOURCE Cosan S.A. | https://www.whsv.com/prnewswire/2022/05/02/cosan-sa-announces-expiration-receipt-requisite-consents-with-respect-consent-solicitation-notes-due-2029/ | 2022-05-02T13:20:09Z |
REVELSTOKE, BC, May 2, 2022 /PRNewswire/ - In support of National Women's Health Week on May 8-14, Cronometer launches new Women's Health Nutrition Score.
- Normally behind a paywall, the feature will be made available for free for the month of May.
- The app's Nutrition Score feature bundles specific macro and micronutrients together and gives users a percentage value for how they are hitting their targets based off their diet for that day.
- Cronometer's Women's Health Nutrition Score highlights nutrients that women are typically lacking such as iron, magnesium, calcium, vitamin D, and fiber.
- It gives female users an easy way to gauge if they are hitting all their recommended daily intakes for those nutrients.
- A survey of Cronometer users found that 53% of women aged 18-24 reported they have or suspect an iron deficiency, of all users with a nutrient deficiency 56% reported that using Cronometer helped them uncover it.
"Studies using single nutrients to improve health have generally yielded mixed results. A better approach is to look at holistic nutrient profiles." Karen Stark, Lead Nutrition Scientist at Cronometer. "That's where our Nutrition Scores are helpful, and we plan to keep adding more as the research becomes available."
Along with the release of the latest Nutrition Scores, Cronometer notes the limitations of current practices in the medical and nutrition industries when it comes to inclusivity of transgender and non-binary people. Currently, due to a lack of scientific research available to account for other options, nutrient target calculations are sex-based, forcing users to choose a sex in order to accurately calculate settings within the app. Cronometer hopes to improve how the app serves this community and is asking anyone who identifies as transgender or non-binary to reach out to their team at research@cronometer.com to discuss how they can better achieve this.
Cronometer is a free nutrition tracker with the most accurate nutrition database on the market. Unlike other tracking apps, the nutritional data is curated from verified, accurate sources. Cronometer was originally developed by CEO Aaron Davidson in 2005 and started as a personal side project. Over the years it has transformed from a hobby into a thriving business with over 5.5 million users worldwide. They are a proudly Canadian company with a head office based in the small mountain town of Revelstoke, British Columbia.
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SOURCE Cronometer | https://www.whsv.com/prnewswire/2022/05/02/cronometer-launches-feature-promote-womens-health-week/ | 2022-05-02T13:20:16Z |
SAN DIEGO, May 2, 2022 /PRNewswire/ -- Cue Health ("Cue") (Nasdaq: HLTH) today became the first company to submit to the U.S. Food and Drug Administration (FDA) for full clearance of its molecular COVID-19 test for at-home and point-of-care use. FDA clearance would provide the public with a molecular COVID-19 test that has been fully reviewed by the FDA for safety and effectiveness.
A prior submission to the FDA for Emergency Use Authorization of Cue's COVID-19 at-home, over-the-counter test showed 98.9% accuracy. An independent study by Mayo Clinic showed Cue's COVID-19 test to be in 97.8% overall concordance with central lab PCR testing.
"This FDA submission marks a major milestone for the company and begins to define a new space of molecular testing in the home and at the point-of-care. We hope this will be the first of many submissions for Cue's molecular testing as we look to address a range of diseases and conditions and make healthcare more responsive, convenient, and effective," said Ayub Khattak, CEO and co-founder of Cue Health.
With an installed base of nearly a quarter million Cue Readers to date, Cue's COVID-19 test has been used by millions of Americans. Cue is a COVID-19 testing solution in a number of the nation's leading healthcare institutions, including Johns Hopkins Medicine, Mayo Clinic, Memorial Hermann, and UPMC Children's Hospital of Pittsburgh. Cue is also used by world-class organizations such as Major League Baseball, Google, and the National Basketball Association.
About Cue Health
Cue Health (Nasdaq: HLTH) is a healthcare technology company that makes it easy for individuals to access health information and places diagnostic information at the center of care. Cue Health enables people to manage their health through real-time, actionable, and connected health information, offering individuals and their healthcare providers easy access to lab-quality diagnostics anywhere, anytime, in a device that fits in the palm of the hand. Cue Health's first-of-its-kind COVID-19 test was the first FDA-authorized molecular diagnostic test for at-home and over-the-counter use without a prescription and physician supervision. Outside the United States, Cue Health has received the CE mark in the European Union, Interim Order authorization from Health Canada, regulatory approval from India's Central Drugs Standard Control Organization, and PSAR authorization from Singapore's Health Sciences Authority. Cue was founded in 2010 and is headquartered in San Diego. For more information, please visit www.cuehealth.com.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements". The words, without limitation, "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including those related to the expected future diagnostic test menu and the factors discussed in the "Risk Factors" section of the Form 10-K dated March 29, 2022 filed by Cue with the SEC. Any forward-looking statements contained in this press release are based on the current expectations of Cue's management team and speak only as of the date hereof, and Cue specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
These products have not been FDA cleared or approved; but have been authorized by FDA under an Emergency Use Authorization (EUA). These products have been authorized only for the detection of nucleic acid from SARS-CoV-2, not for any other viruses or pathogens. The emergency use of these products is only authorized for the duration of the declaration that circumstances exist justifying the authorization of emergency use of in vitro diagnostics for detection and/or diagnosis of COVID-19 under Section 564(b)(1) of the Federal Food, Drug and Cosmetic Act, 21 U.S.C. § 360bbb-3(b)(1), unless the declaration is terminated or authorization is revoked sooner.
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SOURCE Cue Health Inc. | https://www.whsv.com/prnewswire/2022/05/02/cue-health-makes-de-novo-submission-fda-full-clearance-its-molecular-covid-19-test/ | 2022-05-02T13:20:23Z |
New Offerings Aimed at Reducing Construction Costs and Timelines
SANTA CRUZ, Calif. , May 2, 2022 /PRNewswire/ -- Cultivation Warehouse (CW), a premier provider of agritechnology systems and solutions, has expanded their professional service offerings to include complete architectural and mechanical, electrical and plumbing (MEP) engineering services including design, schematics, equipment specification, procurement, installation and maintenance.
CW clients can now take advantage of the most comprehensive array of services available in the industry from initial planning and feasibility studies through complete design, procurement, build out, equipment installation and fine tuning.
For over 20 years CW principals Eric Shedlarski and Eric Paulin have built a solid reputation for recommending and providing the most appropriate equipment solutions for cannabis cultivation operations of all sizes and types. In addition to guaranteed best prices on every type of equipment from most major manufacturers, CW can now significantly shorten the timeline on every project by providing integrated architectural and MEP engineering services, drawings, layouts, schematics, delivery schedules and the like.
According to Paulin "We have traditionally worked with our client's assigned project managers, architects, engineers, trades, and installers providing whatever advice and technical assistance required to optimize operations and we will continue to collaborate in that manner, however our expanded capabilities now allow us to offer complete end to end services that can save a client a significant amount of time and money.
"We've seen thousands of projects all over the country and we know what works and what doesn't. Controlling an environment to optimize production involves a lot of factors: HVAC, benching, irrigation, fertigation, lighting, controls, workflow, etcetera. The successful integration of all of those components is a requirement in order to create the opportunity for a profitable operation. Our goal on every project we undertake is to ensure our client's success. "We are now organized to provide our clients full service."
CW is currently engaged in over 50 projects in 20 states including half a dozen who are taking advantage of the firm's Social Equity program that provides no cost services and other benefits to qualified operations that meet certain state and local criteria for special benefits. In October 2021, CW pledged a million dollars to support minority and other firms adversely disadvantaged by the "war on drugs".
About Cultivation Warehouse:
Cultivation Warehouse is a CEA design and equipment solutions firm specializing in commercial cannabis cultivation and other vertical farming applications. Eric Paulin and Eric "Shed" Shedlarski have been involved in some of the most successful regulated cannabis cultivation projects in North America and beyond; building out and optimizing 10's of millions of square feet of grows.
Their commitment to ensuring each client's success has earned them a steady stream of repeat business and allowed them to assemble a team of dedicated project managers who share that commitment.
Media Contact:
Jim Coffis, 1-831-345-9643, jcoffis@cultivationwarehouse.com
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SOURCE Cultivation Warehouse | https://www.whsv.com/prnewswire/2022/05/02/cultivation-warehouse-expands-cea-construction-services/ | 2022-05-02T13:20:31Z |
Users of its NEO Learning Platform Can Enter to Have Classroom Supply 'Wish Lists' Fulfilled
SAN FRANCISCO, May 2, 2022 /PRNewswire/ -- CYPHER LEARNING, a leading provider of learning platforms for schools, universities and organizations worldwide, today announced a contest designed to recognize and reward teachers for their commitment to — and innovation in — online learning. Users of CYPHER LEARNING's intelligent learning platform NEO can enter the Twitter-based contest to have CYPHER LEARNING clear the Amazon wish list for their classrooms.
The contest is open to teachers at all grade levels across the United States who use (or have used) NEO LMS to manage teaching and learning activities, and build engaging learning content and experiences. The rules — available here — are simple, and it's quick to enter the contest. To participate, teachers should:
- Follow the official NEO LMS Twitter account @neolms.
- Tweet about how NEO has impacted their online learning activities. Tweets can include text, images or videos.
- Tag @neolms or use the #NEOClearsTheList hashtag to have the entry counted.
- Share the tweet with their networks; those with the most "likes" will be designated winners.
The contest starts today, May 2, and runs until June 1. It's free for teachers to participate; please see the full contest rules here. By sharing their stories and successes with online learning, teachers can also inspire others with new ideas.
"We are grateful for the incredible teachers who are part of our community," said Graham Glass, CEO of CYPHER LEARNING. "This is a good opportunity to acknowledge their support and provide a token of appreciation. Over the last two years, teachers have faced big obstacles and changes. They're heroes in the classroom and beyond, and we're glad to recognize the innovative ways they're incorporating online learning in class activities, and engaging and inspiring their students."
For more details about CYPHER LEARNING and its user-friendly NEO platform — trusted by schools and universities worldwide to support learning journeys, drive inclusive e-learning, personalize learning experiences and more — please visit www.cypherlearning.com/neo.
About CYPHER LEARNING
CYPHER LEARNING provides an intelligent learning platform that is empowering schools, businesses, and entrepreneurs worldwide to reimagine online education and deliver the best learning experiences. CYPHER LEARNING has solutions for all major e-learning sectors: NEO LMS for K-20, MATRIX LMS for Businesses, and INDIE LMS for Entrepreneurs. Relied on by millions of users at more than 20,000 organizations, CYPHER LEARNING supports 40+ languages and has offices worldwide with global headquarters in San Francisco. For more information, please visit www.cypherlearning.com.
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SOURCE CYPHER LEARNING | https://www.whsv.com/prnewswire/2022/05/02/cypher-learning-launches-contest-celebrate-teachers-improving-online-education/ | 2022-05-02T13:20:37Z |
MINNEAPOLIS and Scottsdale, Ariz., May 2, 2022 /PRNewswire/ -- On May 5, 2022, Data Sales Co. will kick off its 50th anniversary celebration at its Burnsville, MN headquarters. Festivities continue throughout the year with customer, employee and family events. The company announced its 500-hour "Give Back" volunteer initiative, a continuation of previous company programs. Through this paid time off, nearly 100 employees will work 500 hours to benefit the local communities and neighbors of both Burnsville, MN and Scottsdale, AZ.
About Data Sales Co.
Founded in 1973 by Ron Breckner, Data Sales Co. grew from a home office in Burnsville, MN to a nationwide finance, technology leasing and IT equipment provider with an international presence.
What started as a company brokering IBM mainframe equipment, expanded into a full-service dealer providing reconfigured, recertified systems and parts while offering technical, financial and transportation services with its fleet of local and over-the-road trucks. In addition to the 200,000 square feet of office-warehouse located in Burnsville MN, Data Sales also operates out of Scottsdale, Arizona. The Scottsdale facility is going through an exciting remodel during the 50th year.
Today, Data Sales provides a specialized lease finance product that focuses on young, fast-growing companies requiring large amounts of IT hardware. Customers include those providing services over the internet such as Hosting, Cloud, and Managed Services across the globe.
In addition, Data Sales is an ISO 9001, 14001, and 45001 certified company providing an IT Disposition Service (ITAD) solution for business looking for a secure, confident partner to recycle IT hardware.
According to Paul Breckner (CEO):
"We are excited to be crossing over such an incredible milestone, recognizing that it is a significant achievement to reach 50 years. Our industry has changed over the past many decades and Data Sales has changed with it, providing more services in different areas with flexibility at its core. We would like to thank our customers and partners – some who have been with us for over 40 years! Our dedicated employees work hard every day to deliver a quality product and service.
We look forward to many more years of stewarding the business and for future generations of family members to continue the legacy."
Media Contact:
Heather Seurer
Data Sales Co.
hseurer@datasales.com
1-800-328-2730
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SOURCE Data Sales Co., Inc. | https://www.whsv.com/prnewswire/2022/05/02/data-sales-co-provider-lease-financing-it-asset-disposition-itad-has-proudly-announced-start-its-50th-year-business/ | 2022-05-02T13:20:43Z |
Business, Investing and Legal Leaders Converge at Inaugural McDermott Event for Engaging Programming, Networking Opportunities
NEW YORK, May 2, 2022 /PRNewswire/ -- Building on years of focus in the digital health space and deep relationships with some of the industry's most transformative players, leading health law firm McDermott Will & Emery is bringing business, investing and legal leaders together to discuss the future of care at the firm's inaugural Digital Health Forum on Thursday, May 19, 2022.
"Digital health is more important today than ever before, driving intriguing investment opportunities and care delivery innovation," said Stephen Bernstein, co-chair of McDermott's Digital Health practice. "It is the perfect time to host our inaugural Digital Health Forum with leading digital health experts to discuss the future of digital health, and how this is driving the future of healthcare overall."
With a curated guest list, world-class faculty and exclusive access to other senior leaders across the digital health landscape, this event offers unbeatable opportunities to learn about innovation, deepen professional relationships and build new connections. Attendees will explore new ideas and hear from leading subject matter experts about the state of healthcare delivery, what's over the horizon and where the business and regulatory trendlines are pointing for the future.
Micky Tripathi, National Coordinator for Health IT at the Department of Health and Human Services, keynotes the day-long event. Additional general session topics include:
- Evolution of Digital Health: CEO and Founder Perspectives on Today's Industry
- What the Money Thinks: Heightened Competition and Investing Early
- Consumerization Now: Spotlight on Retail and Tech Entrants in Digital Health
- View from Washington: Regulatory Issues Impacting Your Business
A series of breakout sessions will be available to all attendees offering more detailed programming around topics including remote patient monitoring, data strategies, what's next for home health, FDA and digital health, paper partnerships for digital health companies and more.
Media are invited to attend the event. To register as media, contact Erin West at eswest@mwe.com. Visit the conference web page for more information and view the full event brochure here.
McDermott Will & Emery is the nation's leading health law firm. The Health Industry Advisory group is the only health practice to receive top national rankings from U.S. News – Best Lawyers "Best Law Firms," Chambers USA, The Legal 500 US, and Law360. PitchBook recently recognized McDermott as the most active firm in healthcare private equity for the fourth consecutive year, handling 41 more healthcare private equity transactions in 2020 than its nearest competitor.
ABOUT MCDERMOTT
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective—and often unexpected—solutions that propel success. More than 1,200 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
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SOURCE McDermott Will & Emery | https://www.whsv.com/prnewswire/2022/05/02/digital-health-forum-brings-industry-leaders-together-discuss-future-care/ | 2022-05-02T13:20:50Z |
Connected TV Makes Up Largest Ad Spend Amongst Digital Video Advertising
NEW YORK, May 2, 2022 /PRNewswire/ -- Digital video advertising spend surged 49% in 2021 and is expected to increase an additional 26% to $49.2B in 2022, according to IAB's "2021 Video Ad Spend and 2022 Outlook" report.
Released at the 2022 IAB NewFronts, in conjunction with Standard Media Index (SMI) and Advertiser Perceptions, the report found Connected TV (CTV) ad spend increased 57% in 2021 to $15.2B and is expected to grow an additional 39% in 2022 to $21.2B. Between 2020 and 2022, CTV ad spend is projected to more than double (+118%). In fact, three out of four video buyers (76%) label CTV as a 'must buy' in their media planning budgets.
"Digital video is a driving force for buyers and will continue to be in 2022," said Eric John, VP, IAB Media Center. "However, while CTV leads the substantial growth of digital video ad spend, the amount of dollars currently allocated to CTV is not proportionate to the amount of viewer time spent with the channel. The time is now for brands and buyers to follow consumer attention."
Although CTV will account for 36% of total time spent with linear TV and CTV combined in 2022, the amount of dollars currently allocated to CTV is not aligned to this viewership. Only 18% of total video ad dollars are being spent on CTV vs. total video spend, which includes CTV, linear TV, social, and short-form video.
Buyers Cite Many Factors for CTV's Superiority
When comparing CTV to traditional, linear TV, buyers found data usage, transparency, and no reliance on third-party cookies as distinct advantages:
- CTV enables buyers to leverage many types of data not available within linear TV buys, including first-party brand data (65%), location data (61%), and shopping data (50%).
- Among users of the following KPIs, 57% felt CTV was more effective than linear TV at delivering website/sales actions, and 46% more effective at delivering brand perception.
- Buyers felt CTV provided more transparency into where ads run, with 59% of buyers stating it was 'very clear' on where their CTV ads ran vs. only 50% and 43% for social video and other digital video, respectively.
- With no reliance on third-party cookies, buyers are turning to CTV as a privacy-safe way to spend ad dollars efficiently and effectively. Nearly three in four (73%) video buyers doing so expect to fund their third-party cookie/MAID deprecation CTV spend increases by reallocating dollars from linear TV.
Challenges Still Remain in CTV
As CTV continues to gain momentum and enable opportunities to better target, reach, and scale, more than a third of video buyers cite multiple challenges in CTV around cross-platform campaign activation, management, and measurement, including:
- Measuring incremental reach across platforms/publishers (48%)
- Managing frequency across platforms/publishers (43%)
- A lack of transparency/interoperability within walled gardens (42%)
- Fragmentation of programmatic supply paths (35%)
To address the challenges of CTV, buyers are preparing for a converged linear TV/CTV market that would ease management of cross-platform and cross-channel video buys. In fact, nearly nine out of ten buyers (88%) anticipate a converged linear TV/CTV marketplace in the coming years, two in three (66%) linear TV/digital video buyers now have a single planning team for the two channels, and another quarter (25%) expect to have one planning team in the future.
"Fragmentation continues to be the achilles heel for buyers," added John. "From the study, we learned that video buyers most often cite sales lift as their ideal KPI for CTV, but they are not leveraging it due to measurement complexity, sub-par tool functionality, and data lags. As the industry continues to advance and CTV prevails, advertisers are looking toward a converged marketplace that addresses these issues and helps measure the implementation of a variety of creative and targeting tactics."
"2021 Video Ad Spend and 2022 Outlook" can be downloaded here.
Methodology
IAB commissioned Advertiser Perceptions and SMI Insights to quantify the size and growth rate of the U.S. digital video advertising spend market and provide a lens into market trends, offering guidance for buyers and sellers on how they can position and differentiate their video initiatives based on where the challenges and opportunities reside. Advertiser Perceptions executed an anonymous online survey among ad agency or brand marketers who are involved in recommending, specifying or approving advertising spending in digital video, and spent at least $1M on advertising in 2021. SMI Insights' digital video ad spend market size and growth rate estimates are based on SMI's Pool of ad billing data, including "forward bookings", the IAB-commissioned Advertiser Perceptions quantitative survey, interviews with industry leaders, other market estimates, and expert judgment. The SMI Pool's coverage of the US advertising market is based on deterministic, census-level total media billings for all spending by the largest ad agencies, including all six US major holding groups and most of the largest independents.
About Standard Media Index (SMI)
SMI reports on census-level, complete billing records for placement-level detail of all media transactions in all media types as supplied by the world's largest media buying groups, as well as leading independents, and organizes that data to create a clear, granular, and easy-to-use database for our clients and agency partners.
Depending on the market, SMI captures between 70 and 95% of all agency spend. By aggregating it, SMI offers detailed ad intelligence across all media types, including Television, Digital, Out-of-Home, Print, and Radio. Depending on the market, data can be broken down by unit cost, media owner, ad type, buy type, advertiser product category, and other dimensions.
Clients use SMI data to determine media mix models, create competitive benchmarks, and gain visibility into pricing level data. The data also allow them to understand marketplace trends on a product category level, evaluate ROI of tent poles and sporting events, and break out ad formats by media type to highlight the effectiveness of different kinds of placements.
Our data supports insights covering 34 countries around the world.
About Advertiser Perceptions
Advertiser Perceptions is the global leader in research-based business intelligence for the advertising, marketing, and ad technology industries. Our expert staff delivers an unbiased, research-based view of the advertising market with analysis and solutions tailored to our client's specific KPIs and business objectives. These insights provide our clients with the confidence to make the very best organizational, sales and/or marketing decisions, driving greater revenue and increased client satisfaction.
About IAB
The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.
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SOURCE Interactive Advertising Bureau (IAB) | https://www.whsv.com/prnewswire/2022/05/02/digital-video-ad-spend-increased-49-2021-expected-reach-nearly-50-billion-2022-according-iabs-2021-video-ad-spend-2022-outlook-report/ | 2022-05-02T13:20:57Z |
SHANGHAI, May 2, 2022 /PRNewswire/ -- Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL), a leading and fast-growing fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced that it filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2021 with the Securities and Exchange Commission on May 2, 2022.
The Annual Report can be accessed on the Company's investor relations website at https://ir.100.me. The Company will also provide a hard copy of its Annual Report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request.
About Dingdong (Cayman) Limited
Dingdong (Cayman) Limited is a leading and fast-growing fresh grocery e-commerce company in China, providing users with fresh produce, meat and seafood, prepared food and other food products through a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid. From its core product category of fresh groceries, Dingdong has expanded to provide prepared food and other food products to grow into a leading one-stop online shopping destination in China for consumers to make purchases for their daily lives. At the same time, Dingdong is working to modernize China's traditional agricultural supply chain through standardization and digitalization, empowering upstream farms and suppliers to make their production more efficient and tailored to actual demand. For more information, please visit: www.100.me.
For investor inquiries, please contact:
Dingdong Fresh
ir@100.me
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SOURCE Dingdong (Cayman) Limited | https://www.whsv.com/prnewswire/2022/05/02/dingdong-files-its-annual-report-form-20-f/ | 2022-05-02T13:21:04Z |
Docufree's Digital Mailroom for Law Firms Receives National Accolades
ATLANTA, May 2, 2022 /PRNewswire/ -- Docufree, a leading provider of enterprise information management (EIM) and digital business process services, today announced it has been named the winner of a Bronze Stevie® Award in the new product, business technology category for legal solutions in the 20th annual American Business Awards®.
Docufree's Digital Mail for Law Firms is specifically for law firms and the confidential, time sensitive nature associated with inbound and outbound mail in the legal industry. It captures mail and inbound documents from multiple channels—including physical mail streams from the U.S. Postal Service, emails, faxes, and web forms. Its SaaS Platform then intelligently and automatically processes items to ensure regulatory compliance and centralizes the data securely in the cloud to provide instant accessibility for authorized users.
"We are honored to be recognized for our new legal solution that is transforming the way law firms manage mission-critical documents in a paperless, digital environment," David Winkler, executive vice president and chief product officer at Docufree. "Being able to manage physical documents and electronic information in an efficient manner is critical for legal practices in today's modern hybrid world of work. Our solution allows firms to digitally receive, act on, send and track inbound and outbound mail, at home, on the go or from the courtroom, in a safe and secure manner."
The American Business Awards are the U.S.A.'s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for-profit, and non-profit, large and small. The awards will be presented to winners at a gala ceremony at the Marriott Marquis Hotel in New York on Monday, June 13, 2022.
More than 3,700 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories, and more than 230 professionals worldwide participated in the judging process to select this year's winners.
Designed to integrate with existing Legal Management Systems, Docufree Digital Mail for Law Firms utilizes built-in system intelligence to provide real-time tracking every step of the way. The result is accelerated mail delivery, superior response-and-cycle times, significant cost savings, improved accountability, enhanced security, and compliance. This capability allows law firms to digitally receive, send, access, and track every piece of inbound or outbound mail on demand from an office, home, or court room. Successful integrations have been established with Litify and Docrio, with future integration plans with other legal management platforms.
Details about The American Business Awards and the list of 2022 Stevie winners are available at www.StevieAwards.com/ABA.
About Docufree
Docufree is a leading provider of enterprise information management and digital business process services. Services include large-volume document capture, data extraction and integration, intelligent process automation, cloud-based document management, and digital mailroom services. Since 1999, Docufree has securely managed and modernized how people and the systems they use daily interact with data and each other. The Company helps drive measurable outcomes for both clients and their customers—from providing an on-ramp to digital transformation to automated invoice processing, human resources, and customer communications. Today, over 1,000 enterprises and government agencies rely on Docufree to empower their workforce by ensuring processes are executed with speed, accuracy, and compliance from wherever work needs to happen. For more information, visit www.docufree.com Follow us on LinkedIn and Twitter @Docufree then like us on Facebook.
About the Stevie Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
Sponsors of the 2022 American Business Awards include HCL America, John Hancock Financial Services, Melissa Sones Consulting, and SoftPro.
Media Contact:
Jan Sisko
Carabiner Communications
(678) 461-7438
jsisko@carabinercomms.com
Tena Johnson
Docufree Corporate Communications
(877) 362-3569
pr@docufree.com
https://www.docufree.com
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SOURCE Docufree | https://www.whsv.com/prnewswire/2022/05/02/docufree-wins-bronze-stevie-award-its-digital-mailroom-legal-solution-2022-american-business-awards/ | 2022-05-02T13:21:10Z |
Summary: DocuLynx's partnership with Hyperscience will improve efficiencies for enterprises faced with the challenge of transforming handwritten documents such as invoices into structured digital data. Hyperscience uses machine learning to facilitate efficient, accurate transformation of handwritten documents into useable, storable data. In hand with the expertise of Doculynx's parent company, DRS Imaging, companies can now transform, share and access all electronic and digitized documents to improve efficiencies.
NEW YORK, May 2, 2022 /PRNewswire/ - DocuLynx leverages top-tier technologies empowering its clients to adapt to the changing business environment with state-of-the-art automation capabilities. The latest addition to their growing suite of software solutions includes a partnership with Hyperscience, allowing clients to improve workflows saving time and money.
Hyperscience extracts printed and handwritten text from structured and semi-structured documents, such as forms, invoices, pay stubs, and checks. Using proprietary technology, machine learning creates an Intelligent Document Processing solution turning handwritten documents into structured data.
DRS Imaging offers a range of automation and storage solutions that include high volume data archival storage, efficient workflow software, and document imaging services.
This new partnership now enables them to offer full-service, single-source document management services. As a result, they help decrease costs and risks in highly-regulated industries where manual processes are a major contributor to inefficiencies. Organizations benefit from a "clean data in, clean data out" approach to document management and workflow. With the correct inputs coming in, organizations can leverage the correct outputs going out.
Using DocuLynx and Hyperscience technology allows organizations to:
- Reduce manual bottlenecks
- Lower human clerical errors
- Streamline workflows
- Collect and index all formats into one easy to access and read format
- Provide easy access to multiple locations safely, securely and consistently
Hyperscience is a perfect fit with the DRS Imaging philosophy and approach to making their customers' lives easier using a three-step process:
- Automate: Where are manual tasks causing bottlenecks that can be overcome through automation?
- Integrate: How can the integration of technology streamline workflow and create a more collaborative work environment?
- Accelerate: Using effective training and educational content to make the most of the system across the entire organization.
"Hyperscience is key to the second step as it completely integrates all forms of documents," says Cliff Newman, the president of DRS imaging. "By digitizing handwritten documents, organizations can undergo a complete digital transformation using one solution. This is something not previously possible."
DRS Imaging works with large enterprise businesses across various industries struggling with unmanageable or high quantities of paper, invoices, processes, bills of materials, receipts, transactions, etc. across conflicting formats. The partnership with Hyperscience helps complete integration using machine learning to transform handwritten documents into useable data. Reach out to DRS Imaging to learn how the partnership can improve your business.
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SOURCE DRS Imaging | https://www.whsv.com/prnewswire/2022/05/02/doculynx-announces-handwritten-document-digital-transformation-capabilities-through-hyperscience-partnership/ | 2022-05-02T13:21:16Z |
TAMPA, Fla., May 2, 2022 /PRNewswire/ -- DoubleLine Income Solutions Fund (the "Fund"), which is traded on the New York Stock Exchange under the symbol DSL, this week declared a distribution of $0.11 per share for the month of May 2022. The distributions are subject to the following ex-dividend, record and payment dates set by the Fund's Board of Trustees.
This press release is not for tax reporting purposes. The press release has been issued to announce the amount and timing of the distributions declared by the Board of Trustees. There is a possibility that distributions may include ordinary income, long-term capital gains or return of capital. For information on whether the distribution includes a return of capital, please contact us on or after the distribution payment date. The amount of distributable income and the tax characteristics of the distributions are determined at the end of the taxable year. In early 2023, the Fund will send shareholders a Form 1099-DIV specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder's tax return.
About DoubleLine Income Solutions Fund
The Fund's primary investment objective is to seek high current income; its secondary objective is to seek capital appreciation. The Fund seeks to achieve its investment objectives by investing in a portfolio of investments selected for their potential to provide high current income, growth of capital, or both. DoubleLine Capital LP ("DoubleLine"), the Fund's investment adviser, expects that the Fund will normally invest at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities and other income-producing investments anywhere in the world, including emerging markets. The Fund may invest in mortgage-backed securities of any kind and may invest without limit in securities rated below investment grade (commonly referred to as "high yield" securities or "junk bonds"). There is no guarantee that the Fund will achieve its investment objectives. Investing in the Fund involves the risk of principal loss.
About DoubleLine Capital LP
DoubleLine Capital is an investment adviser registered under the Investment Advisers Act of 1940. DoubleLine's offices can be reached by telephone at (213) 633-8200 or by e-mail at info@doubleline.com. Media can reach DoubleLine by e-mail at media@doubleline.com. DoubleLine® is a registered trademark of DoubleLine Capital LP.
To read about the DoubleLine Income Solutions Fund, please access the Annual Report at www.doublelinefunds.com or call 877-DLINE11 (877-354-6311) to receive a copy. Investors should consider the Fund's investment objective, risks, charges and expenses carefully before investing. An investment in the Fund should not constitute a complete investment program. Investors should note that the Fund only can be obtained through a broker.
This document is not an offer to sell securities or the solicitation of an offer to buy securities, nor shall there be any sale or offer of these securities, in any jurisdiction where such sale or offer is not permitted.
Fund investing involves risk. Principal loss is possible.
Shares of closed-end investment companies frequently trade at a discount to their net asset value, which may increase investors' risk of loss. This risk may be greater for investors expecting to sell their shares in a relatively short period after the completion of the public offering. There are risks associated with investment in the fund.
Investments in debt securities typically decline in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in asset-backed and mortgage-backed securities include additional risks that investors should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments.
Past performance is no guarantee of future results. The fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. Investments in lower rated and non-rated securities present a great risk of loss to principal and interest than higher rated securities. Investment strategies may not achieve the desired results due to implementation lag, other timing factors, portfolio management decisions-making, economic or market conditions or other unanticipated factors. In addition, the Fund may invest in other asset classes and investments such as, among others, REITs, credit default swaps, short sales, derivatives and smaller companies which include additional risks. The DoubleLine Income Solutions Fund (the "Fund") is a diversified, closed-end management investment company.
This material may include statements that constitute "forward-looking statements" under the U.S. securities laws. Forward-looking statements include, among other things, projections, estimates, and information about possible or future results related to the Fund, market or regulatory developments. The views expressed herein are not guarantees of future performance or economic results and involve certain risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially from the views expressed herein. The views expressed herein are subject to change at any time based upon economic, market, or other conditions and DoubleLine undertakes no obligation to update the views expressed herein. While we have gathered this information from sources believed to be reliable, DoubleLine cannot guarantee the accuracy of the information provided. Any discussions of specific securities should not be considered a recommendation to buy or sell those securities. The views expressed herein (including any forward-looking statement) may not be relied upon as investment advice or as an indication of the Fund's trading intent. Information included herein is not an indication of the Fund's future portfolio composition.
Distributions include all distribution payments regardless of source and may include net income, capital gains, and/or return of capital (ROC). ROC should not be confused with yield or income. A Fund's Section 19a-1 Notice, if applicable, contains additional distribution composition information and may be obtained by visiting www.doublelinefunds.com. Final determination of a distribution's tax character will be made on Form 1099 DIV and sent to shareholders. On a tax basis, as of April 30, 2022, the estimated component of the cumulative distribution for the fiscal year to date would include an estimated return of capital of $0.00 (0%) per share. This amount is an estimate and the actual amounts and sources for tax reporting purposes may change upon final determination of tax characteristics and may be subject to changes based on tax regulations.
Any tax or legal information provided is merely a summary of our understanding and interpretation of some of the current income tax regulations and is not exhaustive. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Fund nor any of its representatives may give legal or tax advice.
Foreside Funds Services, LLC provides marketing review services for DoubleLine Capital LP.
©2022 DoubleLine Capital LP.
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SOURCE DoubleLine | https://www.whsv.com/prnewswire/2022/05/02/doubleline-income-solutions-fund-declares-may-2022-distribution/ | 2022-05-02T13:21:23Z |
BEVERLY HILLS, Calif., May 2, 2022 /PRNewswire/ -- Dr. Jay Calvert, co-host of the Beverly Hills Plastic Surgery Podcast, attended the live meeting of The Aesthetic Society held last week in San Diego, California. He co-chaired the Rhinoplasty course that was jointly presented by The Rhinoplasty Society and The Aesthetic Society.
"The live meeting format has been sorely missed by the Plastic Surgery community. It's good to be back in person!" said Dr. Jay Calvert.
In addition to co-directing the Rhinoplasty Educational course, he was asked to step in and play guitar in a Battle of the Bands held on the opening night of The Aesthetic Society meeting. Dr. Calvert dusted off his Gibson SG and rocked some tunes to kick off the meeting and fundraise for the Aesthetics Surgery Education and Research Foundation.
"Not only was the meeting chock full of great information, but the social aspects of being back in person are invaluable for idea exchange. It's just good for us all."
Dr. Jay Calvert and Dr. Millicent Rovelo recapped The Aesthetic Society meeting on their podcast, The Beverly Hills Plastic Surgery Podcast.
Apple Podcasts: Beverly Hills Plastic Surgery Podcast
Instagram: https://www.instagram.com/beverlyhillsplasticsurgerypod
YouTube Channel: https://www.youtube.com/user/DrCalvertTV
About Dr. Jay Calvert:
Dr Jay Calvert is a Board Certified Plastic Surgeon. He is internationally known for his work on rhinoplasty and nasal reconstruction. He has appeared on multiple television shows such as The Doctors, Dr. Phil, Tyra Banks Show, and many others. Dr. Calvert was recently named to the top 100 plastic surgeons in the nation through a poll of US plastic surgeons conducted by a nationally recognized publication. To learn more about his international speaking engagements or operating engagements contact Dr. Calvert at 1.310.777.8800 or drcalvert@roxburysurgery.com. You can also follow Dr. Calvert on Instagram or visit www.drcalvert.com.
About Dr. Millicent Rovelo:
Dr Millicent Rovelo is a double Board Certified Plastic Surgeon with a focus on breast augmentation, breast reduction, breast reconstruction, and body contouring after massive weight loss. She is known for her visionary approach to body lifts and mommy makeovers. Dr. Millicent Rovelo can be reached through her office at 1.310.954.1355 or through her website http://www.roveloplasticsurgery.com.
Media Contact:
Lauren Renschler
William Raymond Communications
lauren@william-raymond.com
310-463-0863
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SOURCE Dr. Jay Calvert | https://www.whsv.com/prnewswire/2022/05/02/dr-jay-calvert-co-chairs-rhinoplasty-course-aesthetic-society-pinch-hits-plastic-surgeon-rock-band/ | 2022-05-02T13:21:29Z |
'Authenticity Guarantee' service expands to include graded collectible card games and sports trading cards sold on eBay for $2,000+
SAN JOSE, Calif., May 2, 2022 /PRNewswire/ -- eBay, a global commerce leader that connects millions of buyers and sellers around the world, announced the expansion of its 'Authenticity Guarantee' for trading cards through a strategic partnership with PSA (Professional Sports Authenticator), the world's preeminent trading card authentication and grading company. Beginning today, when a graded card is sold for $2,000+ in the U.S., the seller will send that graded card to PSA, the largest and most trusted third-party authentication and grading company in the world, where a newly established team of experts – independent from the core team focused on the existing backlog – will utilize years of expertise to verify that the card matches the listing description and that the sealed plastic holder and label are authentic and have not been tampered with or counterfeited. Over time, this service will expand to any graded card sold for $250+. This expansion comes only four months after eBay introduced Authenticity Guarantee for raw trading cards, and with PSA's expertise having graded more than 54 million trading cards, eBay continues to deliver a seamless experience that allows collectors to buy and sell with confidence.
"As casual buyers become collectors and collectors become investors, authentication services have never been more important,'' said Dawn Block, VP Collectibles, Electronics and Home at eBay. "eBay is the top destination for buying and selling high value cards and collectibles, and PSA has been a leader in the authentication and grading of trading cards for more than three decades. With this latest partnership, collectors can feel even more confident in their purchases of graded cards, and eBay continues to set the standard for this category."
The surge in the trading cards market has created an opportunity for eBay and PSA to leverage their respective strengths, combining eBay's global reach and unmatched selection with the market-leading capabilities, trust, and expertise of PSA. Together, eBay and PSA are committed to ensuring accuracy as well as providing a trusted buying and selling experience for collectors.
"Our trading card expertise is the perfect complement to eBay's breadth and depth of inventory," said Kevin Lenane, PSA President. "For more than 30 years, we have played a vital role in the card community. This partnership allows us to help eBay create a trusted and confident experience for collectors, adding further integrity to the hobby."
In addition to trading cards, eBay's Authenticity Guarantee service includes sneakers sold for $100+, watches sold for $2,000+, and handbags sold for $500+. Certified Collectibles Group (CCG) will continue authenticating single, ungraded trading cards sold for $250+. This partnership with PSA to bolster trust in the marketplace is yet another enhancement by eBay to improve the experience for collectors. In 2021, eBay introduced industry-leading tools including Price Guide and Collection and Image Scan and, later this year, eBay will launch the eBay vault: a secure storage facility and digital marketplace for trading cards that will foster fractionalization and allow users to transfer ownership from seller to buyer in a matter of seconds, with no need to re-authenticate, or ship the item anywhere.
Shop trading cards at ebay.com/authenticcards and learn more about eBay's authentication offering for watches, sneakers, and handbags at ebay.com/buyauthentic. For more, follow the conversation with @eBayCollectibles on Instagram or @eBay on Twitter, TikTok, YouTube and Facebook.
eBay Trading Cards By The Numbers
- eBay's Trading Cards category is growing significantly faster than the total marketplace.
- Trading Cards in the first half of 2021 hit $2 billion in transactions – equal to ALL of 2020.
- An average of 2 trading cards are sold every second on eBay – one of which is a sports card.
- To date, over 9M cards purchased on and off eBay have been added to customer Collections.
- More than 1.3M buyers have used the Price Guide tool in search to visualize trends for their favorite trading cards.
- Top Trading Cards GMV Growth by Categories (H1 2021):
Source: Numbers based on eBay U.S. 2021 sales data.
About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2021, eBay enabled over $87 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
About PSA
PSA (Professional Sports Authenticator) is the largest and most trusted third-party trading card authentication and grading company in the world. Since its inception in 1991, PSA has certified over 54 million cards. PSA is a division of Collectors Universe, Inc., which has offices in California, New Jersey, Paris, Hong Kong, Shanghai and Tokyo. As the only third-party grading service to offer a guarantee on its services, PSA has emerged as the clear leader in authentication and grading for trading cards and other collectibles.
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SOURCE eBay Inc. | https://www.whsv.com/prnewswire/2022/05/02/ebays-authenticity-guarantee-now-includes-graded-trading-cards-through-partnership-with-psa/ | 2022-05-02T13:21:36Z |
CHICAGO, May 2, 2022 /PRNewswire/ -- Envista Forensics ("Envista"), a leading global provider of forensic consulting services, announced the hiring of Neil Goodrich as Chief Innovation Officer (CIO).
Goodrich joins the organization at an exciting time and will step in to develop and refine Envista's go-forward technology roadmap. This includes stepping into the company's ongoing Digital Transformation initiative as Program Executive, where he will work closely with team members from across diverse parts of Envista.
Prior to joining Envista, Goodrich was Chief Information Officer/Chief Innovation Officer at M. Holland Company, a leading international distributor of thermoplastic resin to clients across industries from automotive, electrical & electronics, and wiring & cable, to healthcare, packaging, 3D printing and rotational molding. An innovative and visionary leader, Goodrich's contributions during his tenure with M. Holland included logistics process improvements, the creation of Project Management processes that led to adoption of Agile methodologies, and the selection and implementation of a new, cloud-based ERP.
"We are delighted to welcome Neil to the Envista family," said Christina Lucas, President of Envista. "Neil comes to Envista with a depth of technology and leadership experience, making him the ideal addition to the team. We look forward to having Neil's leadership as we cultivate and improve our technology tools and processes to better support our Envista team members and customers."
On his appointment as CIO, Goodrich commented "I couldn't be happier to be joining the Envista team, especially at this incredibly exciting and integral point in the company's digital transformation. Envista is a company with a long history of providing its clients global industry expertise."
He went on to add, "I look forward to building on Envista's commitment to excellence through implementation of technology initiatives that propel future growth and success for both our customers and team members."
About Envista Forensics
Envista Forensics is a global leader in forensic consulting services. We provide failure analysis, fire and explosion investigations, digital forensics, accident reconstruction, building and construction consulting, geotechnical engineering, damage evaluations, and equipment restoration services following disasters of all kinds.
Envista has served the insurance, legal, and risk management industries for more than 30 years. Our experts travel globally to more than 30 offices located across North America, LATAM, Europe, Singapore, and Australia. Visit our website at www.envistaforensics.com for more information.
Media Contact
Jennifer Gaster, CMO
Envista Forensics
Jennifer.Gaster@EnvistaForensics.com
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SOURCE Envista Forensics | https://www.whsv.com/prnewswire/2022/05/02/envista-forensics-announces-neil-goodrich-chief-innovation-officer/ | 2022-05-02T13:21:42Z |
SEATTLE, May 2, 2022 /PRNewswire/ -- Era Software, the observability data management company, today announced it has been named a 2022 Cool Vendor in Observability and Monitoring for Logging and Containers1 by Gartner.
The report states, "Large enterprises are ingesting more than 10s of TB of log files per day, with an increasing number ingesting more than 100TB and a few approaching a petabyte (1000TB). This is causing fundamental technical challenges and escalating costs to traditional log file aggregation."
Traditional approaches to monitoring and log management developed on legacy architectures built for the pre-cloud era cannot handle the exponentially growing volumes of data. Enterprises are often forced to make hard decisions about choosing what data to collect, creating critical visibility gaps. Without a holistic strategy for managing observability data, especially logs, organizations end up with data silos and complexity. All of this negatively impacts the business.
"We believe, being named a 2022 Gartner Cool Vendor in Observability and Monitoring for Logging and Containers validates our mission to provide customers with an observability data and analytics platform built for the cloud era that significantly reduces log management costs," said Todd Persen, co-founder and chief executive officer, Era Software. "We give you the ability to ingest, store, and query massive amounts of log data in real time and help you gain critical operational insights while removing visibility gaps."
The EraSearch observability data and analytics platform is optimized for high scale, real-time, low-cost log management. Modern IT and security teams gain real-time visibility into applications and infrastructure while eliminating engineering toil. Built from the ground up using cloud-native constructs and on object storage, enterprise customers can deploy EraSearch with EraCloud, the software as a service (SaaS)-based offering or self-hosted. EraSearch and EraCloud enable DevOps teams to deliver cloud services faster while achieving significant cost savings compared to traditional monitoring tools.
"We hear often from IT organizations that a new approach to observability, monitoring, and log management is needed," said Stela Udovicic, senior vice president of marketing, Era Software. "Earlier this year, we surveyed 315 IT professionals for our 2022 State of Observability and Log Management Report. 95% of IT practitioners and executives surveyed state that innovation in tools to manage increasing volumes of log and observability data is needed."
Recent Era Software Milestones:
- SOC 2 Type 1 certification and introduces RBAC for EraSearch
- 2022 State of Observability and Log Management report
- 238% employee growth in 2021
- EraCloud for managing petabytes of log data in real time at up to 90% lower cost than alternatives
- Series A funding
Additional Resources
- 2022 Observability and Log Management Report
- Analyst papers
- Era Software website
- Era Software blog
- Webinar - The Future of Log Management: Eliminating Costs and Complexity
Connect with Era Software
Gartner Disclaimer:
GARTNER and COOL VENDORS are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Era Software
Era Software's observability data management products offer modern IT and security organizations the ability to route, ingest, store, and analyze massive amounts of data to get actionable insights in seconds. With the company's observability and analytics platform, EraSearch, teams eliminate complexity and manage all their log data in real-time at up to 90% lower cost than alternatives. As data volumes grow exponentially, enterprises are often forced to make hard choices about what data to collect, creating critical visibility gaps. Era Software enables IT teams to collaborate and innovate faster with unified access to data. Find out more at www.era.co. Follow us on Twitter and LinkedIn.
Contact: Lori Bertelli, 916-216-2968, lori@era.co
1 Gartner, "Cool Vendors™ in Observability and Monitoring for Logging and Containers," Padraig Byrne, Pankaj Prasad, Manjunath Bhat, Gregg Siegfried, 27 April 2022
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SOURCE Era Software, Inc. | https://www.whsv.com/prnewswire/2022/05/02/era-software-named-2022-gartner-cool-vendor/ | 2022-05-02T13:21:48Z |
HOUSTON, May 2, 2022 /PRNewswire/ -- Fencing Supply Group (FSG) today announced that it has acquired Specialty Fence Wholesale, Inc. (SFW), a respected leading wholesaler of vinyl and aluminum fencing products in the Central Florida market.
"It is truly an exciting time, and we are thrilled to welcome the talented and dedicated people of Specialty Fence Wholesale, Inc. to our Fencing Supply Group team," said Andrea Hogan, CEO of Fencing Supply Group. "We are building North America's premiere distribution company for fencing and outdoor living products, and SFW is the ideal addition to our team."
"Specialty Fence Wholesale complements our existing footprint in the Tampa and Southeast regional area," added Jeff Cook, FSG Executive Vice President of M&A and Greenfields. "New and existing customers will benefit from having more options and greater access to high-quality fencing, perimeter security and outdoor living products."
"We are proud of what we built over the past 20 years. Specialty Fence Wholesale has a strong reputation for quality products, competitive pricing, and the best customer service," remarked Al Robinson, owner of Specialty Fence Wholesale, Inc. "Today, we found the right partner in Fencing Supply Group, who will help us elevate what we do so well to the next level."
Fencing Supply Group is a portfolio company of The Sterling Group, an operationally focused private equity firm focused on the industrial sector. Sterling has deep experience in the building products distribution industry, having previously partnered with entrepreneur owners to build Roofing Supply Group, Construction Supply Group, and Artisan Design Group. Fencing Supply Group and Sterling intend to continue to support the platform through organic growth initiatives and an active acquisition strategy.
About Fencing Supply Group
Founded in 2021, Fencing Supply Group (FSG) is a group of industry-leading fencing distributors. FSG is the largest wholesale distributor and manufacturer of fencing and outdoor living supplies in the United States. FSG businesses serve professional fencing contractors who provide new, improvement, and repair fencing services across residential, industrial, commercial, and infrastructure end markets. The FSG model combines local relationships, service, and expertise with national scale and resources to benefit customers, employees, and suppliers. Current FSG companies include Binford Supply, Cedar Supply, Fence Supply, Merchants Metals, Pro Access Systems, Sharon Fence Distributors, Specialty Fence Wholesale Jacksonville, and Vinyl By Design, which collectively operate nearly 70 branches across more than 30 states.
About The Sterling Group
Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $750 million. Sterling has sponsored the buyout of 62 platform companies and numerous add-on acquisitions for a total transaction value of over $14.0 billion. Sterling recently closed its fifth investment fund with $2.0 billion in commitments and currently has over $5.7 billion of assets under management. For further information, please visit sterling-group.com.
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SOURCE Fencing Supply Group | https://www.whsv.com/prnewswire/2022/05/02/fencing-supply-group-portfolio-company-sterling-group-acquires-specialty-fence-wholesale-inc/ | 2022-05-02T13:21:54Z |
DANBURY, Conn., May 2, 2022 /PRNewswire/ -- Framework Solutions, LLC ("Frameworks" or the "Company"), a leading provider of compliance and technology services to the Life Sciences industry, is excited to announce its new Marketing Operations, Grants Management and Technology Service offerings at the Veeva Summit in Boston, MA on May 5, 2022.
"Veeva is a valued partner and making this announcement at the Veeva Summit emphasizes Frameworks' commitment to the continued success of our mutual client partners," said Marc Ioli, Director, Account Solutions.
"We're extremely pleased to expand our suite of services to include Marketing Operations and Grants Management Services," said Joanna Bova, Vice President, Compliance Services of Frameworks. "Marketing Operations is a natural extension of our best-in-class coordinator services, offering our clients strategic solutions within MLR processes. Our Grants Management Services are designed to integrate seamlessly into existing processes, with a focus on operational execution. These two new service lines demonstrate our commitment of excellence within Compliance Services."
"We are excited to announce that Framework Solutions now offers a full suite of Technology Services. This expansion of our service offerings will provide full end-to-end technology services for our customers," said Michael Scalea, Executive Vice President, Technology Services. "We continue to be committed to providing the highest level of quality service with deep industry expertise across the commercial landscape," said Scalea
Framework Solutions provides compliance and technology services support to clinical and commercial-stage organizations across the Life Sciences industries with a specific emphasis on Marketing Operations, Commercial Operations, MLR Content Review, Grants Management and Technology Services. For more information, please visit www.framesol.com.
MEDIA CONTACT
Marc Ioli
Framework Solutions, LLC
Direct +1 860-799-7510 Ext: 102
mioli@framesol.com
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SOURCE Framework Solutions | https://www.whsv.com/prnewswire/2022/05/02/framework-solutions-announce-new-service-offerings-2022-veeva-summit/ | 2022-05-02T13:22:01Z |
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