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Happening This Weekend: The Haggard Brothers with EmiSunshine
Noel and Ben, the sons of Merle Haggard take the Chuck Mathena Center stage at 7 PM on May 7th
Published: May. 3, 2022 at 5:05 PM EDT|Updated: 1 hour ago
PRINCETON, W.Va. (WVVA) - The sons of Merle Haggard are coming to the Chuck Mathena Center on Saturday, May 7th at 7 PM.
Candace Wilson with the Chuck Mathena Center stopped by WVVA @ Noon with Joshua Bolden to discuss what the brothers will be performing and how they are putting their own spin on their dad’s classic songs.
The Chuck Mathena Center is located at 2 Stafford Drive in Princeton, WV.
Joining Noel & Ben Haggard is friend to WVVA Today and artist EmiSunshine. The 17 year-old-singer and songwriter is from the Madisonville, Tennessee.
Purchase your tickets here. at CMCWV.org.
Copyright 2022 WVVA. All rights reserved. | https://www.wvva.com/2022/05/03/happening-this-weekend-haggard-brothers-with-emisunshine/ | 2022-05-03T22:14:20Z |
Oklahoma governor signs Texas-style ban on most abortions
OKLAHOMA CITY (AP) — Oklahoma’s Republican Gov. Kevin Stitt signed a Texas-style abortion ban on Tuesday that prohibits abortions after about six weeks of pregnancy, part of a nationwide push in GOP-led states hopeful that the conservative U.S. Supreme Court will uphold new restrictions.
Stitt’s signing of the bill comes on the heels of a leaked draft opinion from the nation’s high court that it is considering weakening or overturning the landmark Roe v. Wade decision that legalized abortion nearly 50 years ago.
The bill Stitt signed takes effect immediately with his signature, but abortion rights advocates already have challenged the new law in court. It’s not clear when the Oklahoma Supreme Court might issue a ruling in the case, but abortion providers say once the new law is in place, they will immediately stop providing services unless the court intervenes.
“There will be people who lose access, even if the halt in services is only brief,” said Emily Wales, president and CEO of Planned Parenthood Great Plains, which operates abortion clinics in Oklahoma City and Tulsa.
The new law prohibits abortions once cardiac activity can be detected in an embryo, which experts say is roughly six weeks into a pregnancy, before many women know they are pregnant. A similar bill approved in Texas last year led to a dramatic reduction in the number of abortions performed in that state, with many women going to Oklahoma and other surrounding states for the procedure.
Dr. Iman Alsaden, the medical director of Planned Parenthood Great Plains, said Texas’ law that took effect in September has given their employees an idea of what a post-Roe country might look like.
“Since that day, my colleagues and I have regularly treated patients who are fleeing their communities to seek care,” Alsaden said. “They’re taking time off of work, taking time out of school and taking time away from their family responsibilities to get the care that until September 2021 they were able to get safely and readily in their communities.”
The bill authorizes abortions if performed as the result of a medical emergency, but there are no exceptions if the pregnancy is the result of rape or incest.
Like the Texas law, the Oklahoma bill would allow private citizens to sue abortion providers or anyone who helps a woman obtain an abortion for up to $10,000. After the U.S. Supreme Court allowed that mechanism to remain in place, other Republican-led states sought to copy Texas’ ban. Idaho’s governor signed the first copycat measure in March, although it has been temporarily blocked by the state’s Supreme Court.
Stitt earlier this year signed a bill to make performing an abortion a felony crime in Oklahoma, but that measure is not set to take effect until this summer, and legal experts say it’s likely to be blocked because the Roe v. Wade decision still remains the law of the land.
The number of abortions performed each year in Oklahoma, which has four abortion clinics, has declined steadily over the last two decades, from more than 6,200 in 2002 to 3,737 in 2020, the fewest in more than 20 years, according to data from the Oklahoma State Department of Health. In 2020, before the Texas law was passed, about 9% of the abortions performed in Oklahoma were women from Texas.
Before the Texas ban took effect on Sept. 1, about 40 women from Texas had abortions performed in Oklahoma each month, the data shows. That number jumped to 222 Texas women in September and 243 in October.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/05/03/oklahoma-governor-signs-texas-style-ban-most-abortions/ | 2022-05-03T22:14:27Z |
Washington reaches $518M settlement with opioid distributors
SEATTLE (AP) — Months into a complex trial over their role in flooding Washington with highly addictive painkillers, the nation’s three largest opioid distributors agreed Tuesday to pay the state $518 million, with the vast majority being directed toward easing the addiction epidemic.
Attorney General Bob Ferguson announced the deal, noting that it’s worth tens of millions of dollars more than Washington would have received from the companies if it had signed onto a national settlement reached last summer involving the distributors and Johnson & Johnson.
The agreement still requires approval from a judge and from dozens of Washington cities that pursued their own cases against the distributors — McKesson Corp., Cardinal Health Inc. and AmerisourceBergen Corp.
Under the settlement, the state would have to spend $476 million of the total to address the opioid crisis, including on substance abuse treatment; expanding access to overdose-reversal drugs; and providing housing, job placement and other services for those struggling with addiction. The rest of the money would go toward litigation costs.
“We could have joined the overwhelming majority of states and settled with the the largest opioid distributors, but we chose to fight them in court instead,” Ferguson said. “That decision to take them to court will result in significant additional resources for Washington to combat the opioid epidemic.”
The three companies announced earlier this year that 46 states had signed onto the national settlement, under which they will pay nearly $20 billion over 18 years.
Ferguson, a Democrat, declined to join, calling what would have been the state’s $418 million share from the distributors insufficient. Instead, he decided to go to trial against the three distributors and separately against Johnson & Johnson.
The case against the distributors went to trial last November in King County Superior Court in Seattle, alleging violations of consumer protection and public nuisance laws, while the lawsuit against Johnson & Johnson is scheduled to go to trial in September.
The attorney general argued that the three companies shipped such a vast amount of drugs to Washington that it was obvious they were fueling addiction: Opioid sales in the state rose more than 500% between 1997 and 2011. In 2011, more than 112 million daily doses of all prescription opioids were dispensed in the state — enough for a 16-day supply for every resident. In 2015, eight of Washington’s 39 counties had more prescriptions than residents.
The companies rejected the accusations. They said they merely supplied opioids that had been prescribed by doctors, and it wasn’t their role to second-guess the prescriptions or interfere in the doctor-patient relationship.
Further, the companies argued, Washington state itself played a large role in the epidemic. In the 1990s, concerned that people in chronic pain were being undertreated, lawmakers passed the Intractable Pain Act, which made it easier to prescribe opioids.
In a written statement Tuesday, the distributors said the settlement “will further the companies’ goal of achieving broad resolution of governmental opioid claims while delivering meaningful relief to communities across the United States that have been impacted by the opioid epidemic.”
Over the last two decades, the deaths of more than 500,000 Americans have been linked to overdoses of opioids, including both prescription pain kills and illicit drugs such as heroin and illegally produced fentanyl.
Across the U.S., many lawsuits filed by governments over the toll of the drugs have been resolved in recent years — most with settlements, and some with judgments or verdicts in trials. So far, drug makers, distributors and pharmacies have agreed to settlements totaling well over $40 billion, according to an Associated Press tally.
The new Washington state settlement stands as the largest between a single state and a company or group of companies, topping a $484 million deal announced in March between CVS and Florida.
Trials are underway in courts in West Virginia, Florida and California. A decision has not yet been issued after another trial last year in West Virginia.
___
AP reporter Geoff Mulvihill in Cherry Hill, New Jersey, contributed.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/05/03/washington-reaches-518m-settlement-with-opioid-distributors/ | 2022-05-03T22:14:37Z |
‘Wow, that’s a big diamond!’: Visitor finds 2.38-carat brown diamond at state park
PIKE COUNTY, Ark. (Gray News) - A visitor found a 2.38-carat brown diamond on April 10 at Arkansas’s Crater of Diamonds State Park.
Park officials report the diamond was the largest found this year.
“It was right in the middle when I flipped my screen over,” Adam Hardin said. “When I saw it, I said, ‘Wow, that’s a big diamond!’”
After more than a decade of searching and hundreds of diamond finds at the park, Hardin found his first diamond weighing more than two carats.
Officials said Hardin was wet-sifting soil from the East Drain of the park’s 37.5-acre search area when he found the gem.
Park Interpreter Waymon Cox said visitors wet sift using a screen set to wash away soil and separate the gravel by size. Smaller gravel is then sorted by weight, sending heavier material to the bottom of the screen.
“When it’s flipped upside down, the heavier gravel, and sometimes a diamond, can be found on top of the pile,” Cox said.
Hardin carried his gem in a pill bottle to the park’s Diamond Discovery Center, where staff said they registered it as a 2.38-carat brown diamond.
“Mr. Hardin’s diamond is about the size of a pinto bean, with a coffee brown color and a rounded shape,” Cox said. “It has a metallic shine typical of all diamonds found at the park, with a few inclusions and crevices running all along the surface.”
Hardin, who first learned of Crater of Diamonds State Park more than a decade ago, said competition builds camaraderie among regular visitors.
“One of the other guys and I have been going back and forth, seeing who can find the biggest diamond,” Hardin said. “I found a big one, then he got a 1.79-carat, and we were joking about who would find the next big diamond and be ‘king of the mountain.’”
Officials said Hardin’s diamond was the largest found at the park since last September when a visitor from California discovered a 4.38-carat yellow gem on the surface of the diamond search area.
Hardin told park officials that he typically sells his diamonds locally and that he also plans to sell this one.
Currently, 260 diamonds have been registered at Crater of Diamonds State Park in 2022, weighing more than 44 carats. Officials said those numbers come out to be an average of one to two diamonds found by park visitors daily.
Officials report over 75,000 diamonds have been unearthed at the park since the first diamonds were discovered in 1906 by John Huddleston.
Diamonds come in all colors of the rainbow. According to park officials, the three most common colors found at Crater of Diamonds State Park are white, brown, and yellow.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/05/03/wow-thats-big-diamond-visitor-finds-238-carat-brown-diamond-state-park/ | 2022-05-03T22:14:43Z |
Augusta County man survives close call with fallen tree during tornado
WAYNESBORO, Va. (WHSV) - During the severe thunderstorm on April 26, 2022, Zach Trover was working at home.
“The couch is on this side of the room and the tv is over there.” Trover describes where he was as the storm started.
“I came upstairs to get a drink, and I was watching cartoons on tv because I’m an adult, and it started to hail.”
Trover walked to the back door to take this video for his wife. She’s a teacher and has no windows in her classroom. So he wanted to show her that it was hailing. That’s when the storm turned violent.
“In the 30 seconds I got off the couch and walked to the back door, I saw this bright flash and the tree came down on the house.”
When he turned back around, he saw debris exactly where he was just sitting and was completely stunned at what just happened. This is what he saw.
“So I just stood there frozen, and took another picture.”
This is what’s left of the tree, the picture doesn’t do it justice. This is 40 inches in diameter.
“The tree that fell was a healthy one, we just had it all checked out recently so I was really surprised it was the one that fell. It was huge.”
It’s the damage to several hardwood trees that led to National Weather Service to give this tornado an EF-1 rating with winds of 90 miles an hour.
Trover explaines how this room was an addition. It was the family room that was destroyed.
“Our house is fine, but this is the hangout room, where we would all hangout.”
Standing in front of glass is not something you would want to do during a severe storm, but in this case, it may have saved his life.
“I must have something to do, so that’s why I’m still here.”
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NWS confirms tornado on 4-26-2022
Power Lines down in storm
Damage during the storm
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/05/03/augusta-county-man-survives-close-call-with-fallen-tree-during-tornado/ | 2022-05-03T22:50:13Z |
Local political science professor breaks down leaked Roe v. Wade opinion
HARRISONBURG, Va. (WHSV) - Late Monday night, a draft of the Supreme Courts’ opinion was leaked.
In the draft, the Supreme Court would potentially be overturning Roe v. Wade.
If the leaked draft holds true, the Supreme Court would be giving the power back to the states in terms of abortion access, but political experts say this isn’t unexpected.
“Many red states will ban it entirely, the majority of blue states will keep it and then purple states will fight it and Virginia is a purple state,” Dr. Bob Roberts, a political science professor at JMU, said.
With democrats running the Virginia Senate with a thin majority, Dr. Bob Roberts believes the status quo for abortion rights will remain the same in Virginia until the 2023 election.
“Every single candidate for Senate and every single candidate for House of Representatives will have to take a position on this,” Dr. Roberts said.
In West Virginia, there is only one abortion provider in the entire state.
The Women’s Health Center of West Virginia said in a press release on Tuesday it is “committed to protecting the abortion access in our state.”
Dr. Roberts said if Roe v. Wade is overturned, this would leave women in states that ban abortions to travel to states that allow them.
“From a public policy position, what you have going to happen is women who are wealthy enough can travel to states that have abortions and get abortions... so it is not gonna affect wealthy people. It’s gonna have a major impact on poor people,” Dr. Roberts said.
Dr. Roberts said this decision will take precedence over any other governing issue at the state and national level.
“For the foreseeable future, this becomes the central domestic issue in American politics,” Dr. Roberts said.
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/05/03/local-political-science-professor-breaks-down-leaked-roe-v-wade-opinion/ | 2022-05-03T22:50:19Z |
Oklahoma governor signs Texas-style ban on most abortions
OKLAHOMA CITY (AP) — Oklahoma’s Republican Gov. Kevin Stitt signed a Texas-style abortion ban on Tuesday that prohibits abortions after about six weeks of pregnancy, part of a nationwide push in GOP-led states hopeful that the conservative U.S. Supreme Court will uphold new restrictions.
“I want Oklahoma to be the most pro-life state in the country,” Stitt tweeted after signing the bill.
Stitt’s signing of the bill comes on the heels of a leaked draft opinion from the nation’s high court that it is considering weakening or overturning the landmark Roe v. Wade decision that legalized abortion nearly 50 years ago.
The bill Stitt signed takes effect immediately with his signature, and the Oklahoma Supreme Court on Tuesday denied an emergency request to temporarily halt the bill. Abortion providers say now that the new law is in effect, they will immediately stop providing services for women after six weeks of pregnancy.
“While the law is in effect, which it now is because the governor signed it, abortion services after six weeks will be largely unavailable,” said Rabia Muqaddam, a staff attorney for the New York-based Center for Reproductive Rights, which is representing Oklahoma abortion providers in the case. “It’s a short-term loss, but we’re hopeful that the Oklahoma Supreme Court will still grant us relief.”
The new law prohibits abortions once cardiac activity can be detected in an embryo, which experts say is roughly six weeks into a pregnancy, before many women know they are pregnant. A similar bill approved in Texas last year led to a dramatic reduction in the number of abortions performed in that state, with many women going to Oklahoma and other surrounding states for the procedure.
Dr. Iman Alsaden, the medical director of Planned Parenthood Great Plains, said Texas’ law that took effect in September has given their employees an idea of what a post-Roe country might look like.
“Since that day, my colleagues and I have regularly treated patients who are fleeing their communities to seek care,” Alsaden said. “They’re taking time off of work, taking time out of school and taking time away from their family responsibilities to get the care that until September 2021 they were able to get safely and readily in their communities.”
The bill authorizes abortions if performed as the result of a medical emergency, but there are no exceptions if the pregnancy is the result of rape or incest.
Like the Texas law, the Oklahoma bill would allow private citizens to sue abortion providers or anyone who helps a woman obtain an abortion for up to $10,000. After the U.S. Supreme Court allowed that mechanism to remain in place, other Republican-led states sought to copy Texas’ ban. Idaho’s governor signed the first copycat measure in March, although it has been temporarily blocked by the state’s Supreme Court.
Stitt earlier this year signed a bill to make performing an abortion a felony crime in Oklahoma, but that measure is not set to take effect until this summer, and legal experts say it’s likely to be blocked because the Roe v. Wade decision still remains the law of the land.
The number of abortions performed each year in Oklahoma, which has four abortion clinics, has declined steadily over the last two decades, from more than 6,200 in 2002 to 3,737 in 2020, the fewest in more than 20 years, according to data from the Oklahoma State Department of Health. In 2020, before the Texas law was passed, about 9% of the abortions performed in Oklahoma were women from Texas.
Before the Texas ban took effect on Sept. 1, about 40 women from Texas had abortions performed in Oklahoma each month, the data shows. That number jumped to 222 Texas women in September and 243 in October.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/05/03/oklahoma-governor-signs-texas-style-ban-most-abortions/ | 2022-05-03T22:50:25Z |
Prosecutors seek death penalty for Lori Vallow Daybell, mom charged in kids’ deaths
FREMONT COUNTY, Idaho (Gray News) - Idaho prosecutors in the case against Lori Vallow Daybell are seeking the death penalty.
Prosecuting attorneys filed a motion that they’ll seek the death penalty against Lori Daybell as a sentencing option if she is convicted of any of the counts of first-degree murder and/or any of the counts of conspiracy to commit first-degree murder as charged in the indictment.
Lori Daybell is charged with conspiring to kill her children, her estranged husband and a lover’s wife, as reported by the Associated Press.
She refused to enter a plea to murder and other charges last month which prompted an Idaho judge to enter a not guilty plea on her behalf.
Lori Daybell and her new husband, Chad Daybell, face numerous charges in the bizarre case. Lori Daybell’s children were 7-year-old Joshua “JJ” Vallow and 16-year-old Tylee Ryan.
The AP reports investigators said Chad and Lori Daybell began espousing an unusual, doomsday-focused system of religious belief involving “zombies,” teleportation and communication with other spiritual realms starting in 2018 when both were still married to other people. The Idaho prosecutors say they used their religious beliefs to justify or encourage the murders.
Larry Woodcock, “JJ” Vallow’s grandparent, said during a previous news conference that he was happy that the case is moving forward, saying Lori Daybell’s “day will come.”
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/05/03/prosecutors-seek-death-penalty-lori-vallow-daybell-mom-charged-kids-deaths/ | 2022-05-03T22:50:34Z |
School board to vote on name of new Harrisonburg High School
HARRISONBURG, Va. (WHSV) - The wait is nearly over for the name of the second Harrisonburg High School. The city school board is expected to vote on the name for the new school at its meeting on Tuesday night.
The board appointed a naming committee that has worked to come up with names, gather public feedback, and narrow down options over the last few months. On Tuesday night the board will make a final decision on the name and it appears to be down to two options.
Based on the latest student feedback, School Board Chair Dr. Nick Swayne said the top two options are South Ridge High School and Rocktown High School.
The naming committee made South Ridge its final recommendation for the name, but Swayne said it appears that Rocktown has the most support in the community.
“That’s something we’ll discuss tonight as a board and see where everybody is on that, but the feedback that I’ve received has been overwhelmingly in favor of Rocktown so we’ll see how it pans out,” said Swayne.
The school division conducted a recent survey of over 1,600 hundred Harrisonburg students asking for their preference between Rocktown, South Ridge, and Valley View. Rocktown received the most votes.
“I know that a lot of the community members have been indicating their preference for Rocktown,” said April Howard, Chief Officer of Student Support for Harrisonburg City Public Schools.
Howard said no matter what the board decides Tuesday night, the school division is pleased with how much involvement the community had in the naming process.
“I think it will be exciting to have a name for so long we’ve referred to it as HHS2 so it’ll be nice to give it a name and its own identity. It’s exciting that students and community members have been a part of this process,” she said.
Dr. Swayne said the school board is also pleased with the naming committee and how the naming process has gone overall.
“I think it’s actually gone pretty smoothly. The naming committee did a great job of pulling public comment and getting a lot of feedback from everyone so we’ll see how that turns out. It’s the first time we’ve used this process but I think it went pretty well,” he said.
The school board will also discuss the new school’s colors and could vote on that as well. The naming committee recommended red and black as the school’s color scheme, as that was the top choice among students.
The board will vote on the school’s mascot later on, but so far students seem to favor some sort of variation of Thunder or Rolling Thunder.
Tuesday’s meeting begins at 7 p.m. in the City Council Chambers.
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/05/03/school-board-vote-name-new-harrisonburg-high-school/ | 2022-05-03T22:50:40Z |
Valley bicyclists remind drivers to share the road safely
AUGUSTA COUNTY, Va. (WHSV) - As the weather warms up, more and more cyclists are hitting the road.
Valley cyclists are reminding drivers of the newest laws that went into effect last year. Motorists are required to pass a cyclist by changing lanes, even if that means crossing a double yellow line.
“Until last July, Virginia did have a ‘Three-Foot Law’ in existence where motorists were supposed to pass cyclists, allowing them three feet of space,” said President of Augusta Cycling Club Wade Craig.
Cyclists are also allowed to ride side-by-side on the road.
“Legally we are allowed to ride what’s called two-up, that’s two cyclists side by side, and motorists are supposed to pass in the opposing lane. That’s what the law entails that went into effect last July,” said Craig.
Craig said in the Valley, many drivers are very aware of the laws and follow them. Still, breaking the law is risking the health and safety of drivers and cyclists.
“Cyclists are out trying to do an activity that keeps them healthy and is for enjoyment and also for mental health. There’s a myriad of things it does. We don’t want to impede a motorist or cause them a delay in their day and whatnot,” he said.
He said cyclists are very grateful to drivers who share the road generously.
“When a motorist takes time to pass us properly and extend the courtesy of the road, we’re going to do everything in our power to give it back the same way. I just appreciate any motorist who takes time to pass us correctly,” he said.
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/05/03/valley-bicyclists-remind-drivers-share-road-safely/ | 2022-05-03T22:50:46Z |
Community Healthcare Trust Announces Results for the Three Months Ended March 31, 2022
Published: May. 3, 2022 at 5:54 PM EDT|Updated: 56 minutes ago
FRANKLIN, Tenn., May 3, 2022 /PRNewswire/ -- Community Healthcare Trust Incorporated (NYSE: CHCT) (the "Company") today announced results for the three months ended March 31, 2022. The Company reported net income for the first quarter of approximately $5.5 million, or $0.21 per diluted common share. Funds from operations ("FFO") and adjusted funds from operations ("AFFO") for the three months ended March 31, 2022 totaled $0.56 and $0.61, respectively, per diluted common share.
Highlights include:
- During the first three months of 2022, the Company acquired two real estate properties totaling approximately 30,315 square feet for an aggregate purchase price and cash consideration of approximately $5.8 million. Upon acquisition, the properties were 100% leased in the aggregate with lease expirations through 2028.
- The Company has one property under a definitive purchase agreement for an expected purchase price of approximately $5.9 million. The Company expects to close on this property during the second or third quarter of 2022; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.
- The Company also has six properties under definitive purchase agreements, to be acquired after completion and occupancy, for an aggregate expected purchase price of approximately $141.0 million. The Company's expected returns on these investments range from approximately 9.75% to 10.25%. The Company anticipates closing on these properties from the second quarter of 2022 through the fourth quarter of 2023; however, the Company cannot provide assurance as to the timing of when, or whether, these transactions will actually close.
- On April 28, 2022, the Company's Board of Directors declared a quarterly common stock dividend in the amount of $0.44 per share. The dividend is payable on May 27, 2022 to stockholders of record on May 13, 2022.
About Community Healthcare Trust Incorporated
Community Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout the United States. As of March 31, 2022, the Company had investments of approximately $843.8 million in 158 real estate properties (including a portion of one property accounted for as a financing lease). The properties are located in 34 states, totaling approximately 3.4 million square feet in the aggregate.
Additional information regarding the Company, including this quarter's operations, can be found at www.chct.reit. Please contact the Company at 615-771-3052 to request a printed copy of this information.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "believes", "expects", "may", "should", "seeks", "approximately", "intends", "plans", "estimates", "anticipates" or other similar words or expressions, including the negative thereof. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Because forward-looking statements relate to future events, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. Thus, the Company's actual results and financial condition may differ materially from those indicated in such forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company's common stock, changes in the Company's business strategy, availability, terms and deployment of capital, the Company's ability to refinance existing indebtedness at or prior to maturity on favorable terms, or at all, changes in the real estate industry in general, interest rates or the general economy, adverse developments related to the healthcare industry, the degree and nature of the Company's competition, the ability to consummate acquisitions under contract, effects on global and national markets as well as businesses resulting from the COVID-19 pandemic, and the other factors described in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 and the Company's other filings with the Securities and Exchange Commission from time to time. Readers are therefore cautioned not to place undue reliance on the forward-looking statements contained herein which speak only as of the date hereof. The Company intends these forward-looking statements to speak only as of the time of this release and the Company undertakes no obligation to update forward-looking statements, whether as a result of new information, future developments, or otherwise, except as may be required by law.
CONTACT: David H. Dupuy, 615-771-3052
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SOURCE Community Healthcare Trust, Inc.
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/2022/05/03/community-healthcare-trust-announces-results-three-months-ended-march-31-2022/ | 2022-05-03T22:50:52Z |
LYON, France, May 3, 2022 /PRNewswire/-- A new study has identified strains of gut microbiota that are associated with more severe strokes and worse post-stroke recovery, revealing that the gut microbiome could be an important factor in stroke risk and outcomes.
The study, presented today at the European Stroke Organisation Conference (ESOC 2022) pinpointed specific groups of bacteria associated with poorer neurological recovery from ischaemic stroke both in the acute phase (24 hours) and after three months.
The research identified multiple types of bacteria were associated with ischemic stroke risk, including Fusobacterium and Lactobacillus. Negativibacillus and Lentisphaeria were associated with a more severe stroke in the acute phase (at 6 and 24 hours respectively) and Acidaminococcus related to poor functional outcomes at three months.
Dr Miquel Lledós, lead author from the Sant Pau Research Institute Stroke Pharmacogenomics and Genetics Laboratory, Barcelona, Spain, commented "The influence of the gut microbiome – the trillions of bacteria and other microorganisms that live in the gut – is a modifiable risk factor associated with the risk of stroke and with post-stroke neurological outcomes. However, most research has previously been done in animal models."
"In this study we took faecal samples – the first samples taken after the event – from 89 humans who'd suffered an ischaemic stroke. Comparing with a control group, we were able to identify multiple groups of bacteria that were associated with a higher risk of ischaemic stroke."
An ischaemic stroke occurs when a clot or other blockage blocks the blood supply to the brain and is the most common type of stroke. In Europe, 1.3 million people suffer a stroke every year and it is the second most common single cause of death.
"The discovery opens the exciting prospect that, in the future, we may be able to prevent strokes or improve neurological recovery by examining the gut microbiota. In other pathologies, clinical trials are being carried out where researchers replace the intestinal flora through dietary changes or faecal transplantation from healthy individuals and this should be studied further in the stroke field."
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SOURCE European Stroke Organisation | https://www.whsv.com/prnewswire/2022/05/03/european-stroke-organisation-conference-2022-new-study-links-gut-microbiota-strains-with-more-severe-strokes-poorer-post-stroke-recovery/ | 2022-05-03T22:50:59Z |
SCOTTSDALE, Ariz., May 3, 2022 /PRNewswire/ -- Healthcare Trust of America, Inc. (the "Company") (NYSE: HTA), announced today that on Thursday, May 5, 2022, after the market closes, HTA will report its financial results for the three months ending March 31, 2022.
HTA will not host a conference call or webcast in connection with its financial performance and operating results for the three months ending March 31, 2022.
About HTA
Healthcare Trust of America, Inc. (NYSE: HTA) is the largest dedicated owner and operator of medical office buildings in the United States, with assets comprising approximately 26.1 million square feet of GLA, with $7.8 billion invested primarily in medical office buildings as of December 31, 2021. HTA provides real estate infrastructure for the integrated delivery of healthcare services in highly-desirable locations. Investments are targeted to build critical mass in 20 to 25 leading gateway markets that generally have leading university and medical institutions, which translates to superior demographics, high-quality graduates, intellectual talent and job growth. The strategic markets HTA invests in support a strong, long-term demand for quality medical office space. HTA utilizes an integrated asset management platform consisting of on-site leasing, property management, engineering and building services, and development capabilities to create complete, state of the art facilities in each market. We believe this drives efficiencies, strong tenant and health system relationships, and strategic partnerships that result in high levels of tenant retention, rental growth and long-term value creation. Headquartered in Scottsdale, Arizona, HTA has developed a national brand with dedicated relationships at the local level.
Founded in 2006 and listed on the New York Stock Exchange in 2012, HTA has produced attractive returns for its stockholders that have outperformed the US REIT index. More information about HTA can be found on the Company's Website (www.htareit.com), Facebook, LinkedIn, Instagram and Twitter.
Forward-Looking Language
This press release contains certain forward-looking statements. Forward-looking statements are based on current expectations, plans, estimates, assumptions and beliefs, including expectations, plans, estimates, assumptions and beliefs about HTA, stockholder value and earnings growth.
The forward-looking statements included in this press release are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond HTA's control. Although HTA believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, HTA's actual results and performance could differ materially and in adverse ways from those set forth in the forward-looking statements. Factors which could have a material adverse effect on HTA's operations and future prospects include, but are not limited to:
- the Company's ability to effectively deploy proceeds of offerings of securities;
- changes in economic conditions affecting the healthcare property sector, the commercial real estate market and the credit market;
- competition for acquisition and development of medical office buildings and other facilities that serve the healthcare industry;
- the Company's ability to acquire or develop real properties, and to successfully operate those properties once acquired or developed;
- pandemics and other health concerns, and the measures intended to prevent their spread, including the currently ongoing COVID-19 pandemic;
- economic fluctuations in certain states in which the Company's investments are geographically concentrated;
- financial stability and solvency of the Company's tenants, including the ability and willingness of the Company's tenants or borrowers to satisfy obligations under their respective contractual arrangements with the Company and the potential inability of the Company to enforce its rights under its leases during the pendency of any pandemic;
- the ability and willingness of the Company's tenants to renew their leases with the Company upon expiration of the leases or the Company's ability to reposition its properties on the same or better terms in the event of a nonrenewal or in the event the Company exercises its right to replace an existing tenant;
- fluctuations in reimbursements from third party payors such as Medicare and Medicaid;
- supply and demand for operating properties in the market areas in which the Company operates;
- changes in operating expenses of the Company's properties including, but not limited to, expenditures for property taxes, property and liability insurance premiums, and utility rates;
- the Company's ability and the ability of its tenants to obtain and maintain adequate property, liability and other insurance from reputable, financial stable providers;
- restrictive covenants on certain of the Company's properties subject to ground leases that may restrict or limit the uses of its properties and the types of tenants the Company is able to lease to, and the Company's ability to attract new tenants;
- the impact from damage to the Company's properties from, or increased operating costs associated with, catastrophic weather and other natural events and the physical effect of climate change;
- retention of the Company's senior management team and its ability to attract and retain qualified key personnel;
- legislative and regulatory changes, including changes to laws governing the taxation of real estate investment trusts ("REITs") and changes to laws governing the healthcare industry;
- changes in interest rates, including changes as a result of the phasing out of the London Inter-bank Offered Rate ("LIBOR") effective June 30, 2023;
- the availability of capital and financing;
- restrictive covenants in the Company's credit facilities;
- changes in the Company's credit ratings;
- HTA's ability to remain qualified as a REIT;
- changes in accounting principles generally accepted in the United States of America, policies and guidelines applicable to REITs; and
- the risk factors set forth in HTA's most recent Annual Report on Form 10-K and in HTA's most recent Quarterly Reports on Form 10-Q.
Forward-looking statements speak only as of the date made. Except as otherwise required by the federal securities laws, HTA undertakes no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they are made. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements included in this press release or that may be made elsewhere from time to time by, or on behalf of, HTA.
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SOURCE Healthcare Trust of America, Inc. | https://www.whsv.com/prnewswire/2022/05/03/healthcare-trust-america-inc-sets-dates-report-2022-first-quarter-financial-results/ | 2022-05-03T22:51:05Z |
NEW YORK, May 3, 2022 /PRNewswire/ -- Today, JC2 Ventures, a purpose-driven venture capital firm founded and led by the former Executive Chairman and CEO of Cisco Systems John Chambers, announced that it has backed BigSpring, the category-defining work readiness platform. Chambers will be supporting BigSpring as a Strategic Partner and Advisor as the company grows and scales, similar to how he supports the other 20+ companies in the JC2 portfolio, which are all focused on leading market transitions in different digital-enabled categories.
"The skills shortage is the biggest disruption taking place for businesses today, and BigSpring is building a platform that has the power to solve this critical challenge at global scale," said Chambers. "Every company is becoming a technology company, yet getting people up to speed and productive on new innovations at work takes months. BigSpring equips companies to rapidly create skilled talent pools in a way that is meaningful and measurable to business. I look forward to working closely with founder and CEO Bhakti Vithalani and her entire team as a partner and mentor of digital innovation."
Vithalani continued: "The scarcity of work ready talent is the biggest constraint to business growth today and BigSpring solves that by equipping people with market relevant skills at pace with a rapidly accelerating world. John is a master at market transitions and our goal is to lead the new world of work transition that is happening in front of our eyes. What's more, the hands-on approach JC2 Ventures takes with its portfolio companies and the ecosystem of partners they have created will be invaluable to us. We are honored to have the support of John and the entire JC2 Ventures family as we gear up to scale."
This announcement comes at a time of rapid growth for BigSpring, which is the platform of choice for Meta, Amazon, Google, Uber, AXA and others. It is among a select group of Technology Pioneers that has been invited to participate at the annual meeting of the World Economic Forum (WEF) in Davos Switzerland, this year, because of its pioneering approach.
BigSpring is an AI-powered work readiness platform that focuses on getting people job ready, not test ready. The platform enables companies to rapidly create and retool talent for business growth, at pace with rapidly changing needs. BigSpring measures outcomes, not seats or hours. Google, Uber, Facebook, Sotheby's, AXA, Tata and others have adopted BigSpring across their ecosystem of teams, vendors, resellers and customers. BigSpring has been selected by the World Economic Forum as a Technology Pioneer 2020 (past recipients included Google, Twitter, Airbnb, Palantir)..
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SOURCE BigSpring | https://www.whsv.com/prnewswire/2022/05/03/john-chambers-jc2-ventures-backs-bigspring-ai-powered-work-readiness-platform/ | 2022-05-03T22:51:12Z |
The First "One-Stop Shop" for Certified Minority and Women Owned Business Enterprises (M/WBEs) in the Commercial Real Estate Industry
NEW YORK, May 3, 2022 /PRNewswire/ -- JRT Realty Group, the largest woman-owned commercial real estate firm in the country, is pleased to announce that seasoned corporate real estate executive Pay Wu will serve as President of the newly formed MWBE Unite, Inc. This standalone Commercial Real Estate (CRE) platform supplier will pave the way for 100 percent Minority and Women participation, offering services that include strategic program management, Environmental, Social and Governance (ESG) advisory, social impact construction, development and management and property technologies. Jodi Pulice, Founder & CEO at JRT, will serve as CEO.
MWBE Unite is a significant step forward in bridging CRE supplier and workforce diversity gaps and creating accessible opportunities within those spaces. This one-stop shop will bring together M/WBEs and talented CRE individuals with the ultimate goal of advancing inclusionary practices across all aspects of the built environment. Working with MWBE Unite will also present a unique opportunity for organizations to meet their diversity commitments while also taking advantage of high-level industry expertise. The latest in Jodi Pulice's lifelong work to create career-building pathways and generational growth, this new entity will extend these ideals and offer credentialed expertise across services that cover the greatest challenges currently faced by the real estate industry, particularly those that pertain to achieving ESG and Diversity, Equity and Inclusion (DEI) goals.
"MWBE Unite's sole mission is to advance supplier and workforce diversity–a mission that is incredibly important to building for Next Gen diverse capabilities–and it fills me with great pride and confidence to have such an accomplished woman at the helm," Pulice said. "Pay Wu is incredibly qualified to lead this charge, and with JRT's support behind MWBE Unite, this new venture is poised to hit the ground running and bring the industry best-in-class service from qualified and diverse professionals."
Pay Wu, a proven leader in transformation at scale, most recently led Cushman & Wakefield's outsourcing corporate services business in the Americas East Region, spanning Consulting, Transactions Management, Project Development Services and Facilities Management. Prior to C&W, Wu was an SVP at TD Bank's North American Corporate Real Estate and VP, Head of Americas Region for American Express. Wu also comes from an extensive background in professional services consulting with Deloitte and Arthur Andersen.
"Diversity is a fact and inclusion is a choice that individuals and companies must consciously make," said Wu. "Building on that, equity is the outcome of choice. Organizing supplier and workforce diversity in CRE requires deliberate focus to action, and organizations such as MWBE Unite are important industry boosters. In collaboration with traditional providers, MWBE Unite will enable companies to meet their supplier diversity and ESG commitments and achieve Tier 1 and 2 status from their real estate lifecycle spend."
MWBE Unite, Inc. extends the services and offers credentialed expertise across the full range of programmatic services that cover the greatest needs/challenges currently faced by the real estate industry. The power of MWBE Unite enables organizations to meet its billion-dollar supplier diversity commitments and achieve Tier 1 and Tier 2 status from its real estate lifecycle spend. Real estate, as the third largest selling, general and administrative spend category is an untapped lever in achieving ESG and DEI goals, across all dimensions of services and assets. MWBE Unite is the solution to generational challenges with generational impact.
JRT is certified as a MWBE Enterprise by the Women's Business Enterprise National Council (WBENC), National Minority Business Council (NMBC) and numerous other state and local entities. Today, the company is recognized as an industry leader and the nation's largest certified M/WBE commercial real estate firm. The company's benchmark for superior service enables non-profits, federal, state and City governments, as well as Fortune 500 and institutional clients to achieve their diversity participation and spending goals through innovative business solutions. JRT provides a full range of customized client services, including strategic planning, corporate real estate portfolio management, tenant representation, leasing and property marketing, financing and investment sales.
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SOURCE MWBE Unite, Inc. | https://www.whsv.com/prnewswire/2022/05/03/jrt-realty-announces-formation-mwbe-unite-inc-pay-wu-named-president/ | 2022-05-03T22:51:20Z |
TSX and OTCQX: MPVD
TORONTO and NEW YORK, May 3, 2022 /PRNewswire/ - Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPVD) (OTC: MPVD) today announces strong financial results for the first quarter ended March 31, 2022 ("the Quarter" or "Q1 2022") continuing the strong operational and financial performance achieved in 2021 from the Gahcho Kué Diamond Mine ("GK Mine").
All figures are expressed in Canadian dollars unless otherwise noted.
Company Highlights for First Quarter 2022
- Record average sales value per carat of US$132/carat, 52% higher as compared to average values in Q4 2021. The increase in average values in Q1 reflected the demand growth across the rough diamond market along with upstream stock levels, now believed to reflect operating inventories only.
- Updated NI 43-101 Technical Report featuring:
- US$50M Junior Credit Facility closed
Financial Highlights for First Quarter 2022
- 507,000 carats sold, with total proceeds of $84.7 million (Q1 2021: $54.2 million) at an average realised value of $167 per carat (US$132 per carat, Q1 2021: US$71/carat).
- Adjusted EBITDA1 of $44.6 million (Q1 2021: 19.1 million).
- Earnings from mine operations of $42.8 million (Q1 2021: $13.7 million).
- Cash costs of $122 per tonne treated and $73/carat recovered, including capitalized stripping costs1.
- Net income of $24.2 million or $0.11 earnings per share as compared to net income of $7.3 million or $.03 earnings per share for Q1 2021[2].
Operational Highlights for First Quarter 2022 (all figures reported on a 100% basis unless otherwise stated)
- 8,168,000 tonnes mined, compared to 5,605,000 mined in Q1 2021, a 46% increase
- 1,019,000 ore mined, a 99% increase relative to 515,000 tonnes mined in Q1 2021
- 707,553 ore tonnes treated, a 13% increase relative to 625,582 tonnes treated in Q1 2021
- 1,185,156 carats recovered, 15% lower than the comparable quarter (Q1 2021: 1,392,128 carats)
As previously disclosed, during the first quarter Gahcho Kué experienced an outbreak of COVID-19 Omicron that caused disruption to both operations and maintenance activities, in conjunction with a major failure of the Pitman bearing in the primary crusher. These two events have been largely resolved, but within the quarter production was below internal expectations, as the feed rate through the Primary crusher continued to be lower than planned. Grade was impacted by unplanned external dilution from mining that was primarily due to workforce inefficiencies around shovel operations and bottom pit mining causing space constraints, in conjunction with a different ore mix than was planned. The Company is working with its joint venture partner DeBeers, who are the operator of the mine, to address these operating issues.
Sales Highlights for First Quarter 2022
As previously released, during the first quarter only 507,000 carats were sold for total proceeds of $84.7 million (US$66.7 million) resulting in an average value of $167 per carat (US$132 per carat). This is a 52% increase relative to the average value per carat in Q4 2021 of $110 per carat (US$86 per carat) but 16% lower in terms of volume of carats sold.
Mark Wall, the Company's President and Chief Executive Officer, commented:
"I'm extremely pleased to see the Company's strong financial performance in Q1, with a record adjusted EBITDA of $44.6M in the first 3 months of the year. In addition to its strong financial performance, the Company closed a US$50M Junior Credit Facility with its largest shareholder, and produced an updated NI 43-101 Technical Report which demonstrated an NPV attributable to Mountain Province of over $1.2Bn. These milestones are significant steps forward as we progress through what is to be a pivotal year for the Company, and all of its stakeholders. Going forward Management time will be focussed on guiding the Operator to optimise the operation and addressing the financing requirements of the Company."
Financial Performance
Gahcho Kué Mine Operations
The following table summarizes key operating statistics for the Gahcho Kué Mine in the three months ended March 31, 2022 and 2021.
Conference Call
The Company will host its quarterly conference call on Wednesday, May 4th, 2022 at 11:00am ET.
Title: Mountain Province Diamonds Inc Q1 2022 Earnings Conference Call
Conference ID: 29875964
Date of call: 05/04/2022
Time of call: 11:00 Eastern Time
Expected Duration: 60 minutes
Webcast Link:
https://produceredition.webcasts.com/starthere.jsp?ei=1545143&tp_key=bd339f39e9
Participant Toll-Free Dial-In Number: (+1) 888-390-0546
Participant International Dial-In Number: (+1) 416-764-8688
A replay of the webcast and audio call will be available on the Company's website.
****
About the Company
Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories. The Gahcho Kué Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future development. The Company also controls 106,202 hectares of highly prospective mineral claims and leases that surround the Gahcho Kué Joint Venture property that include an indicated mineral resource for the Kelvin kimberlite and inferred mineral resources for the Faraday kimberlites.
For further information on Mountain Province Diamonds and to receive news releases by email, visit the Company's website at www.mountainprovince.com.
Qualified Person
The disclosure in this news release of scientific and technical information regarding Mountain Province's mineral properties has been reviewed and approved by Matthew MacPhail, P.Eng., MBA, and Tom E. McCandless, Ph.D., P.Geo., both employees of Mountain Province Diamonds and Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Caution Regarding Forward Looking Information
This news release contains certain "forward-looking statements" and "forward-looking information" under applicable Canadian and United States securities laws concerning the business, operations and financial performance and condition of Mountain Province Diamonds Inc. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to operational hazards, including possible disruption due to pandemic such as COVID-19, its impact on travel, self-isolation protocols and business and operations, estimated production and mine life of the project of Mountain Province; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; the future price of diamonds; the estimation of mineral reserves and resources; the ability to manage debt; capital expenditures; the ability to obtain permits for operations; liquidity; tax rates; and currency exchange rate fluctuations. Except for statements of historical fact relating to Mountain Province, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "anticipates," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be", "potential" and other similar words, or statements that certain events or conditions "may", "should" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Mountain Province and there is no assurance they will prove to be correct.
Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include the development of operation hazards which could arise in relation to COVID-19, including, but not limited to protocols which may be adopted to reduce the spread of COVID-19 and any impact of such protocols on Mountain Province's business and operations, variations in ore grade or recovery rates, changes in market conditions, changes in project parameters, mine sequencing; production rates; cash flow; risks relating to the availability and timeliness of permitting and governmental approvals; supply of, and demand for, diamonds; fluctuating commodity prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.
These factors are discussed in greater detail in Mountain Province's most recent Annual Information Form and in the most recent MD&A filed on SEDAR, which also provide additional general assumptions in connection with these statements. Mountain Province cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Mountain Province believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Although Mountain Province has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Mountain Province undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered as the property is developed.
Further, Mountain Province may make changes to its business plans that could affect its results. The principal assets of Mountain Province are administered pursuant to a joint venture under which Mountain Province is not the operator. Mountain Province is exposed to actions taken or omissions made by the operator within its prerogative and/or determinations made by the joint venture under its terms. Such actions or omissions may impact the future performance of Mountain Province. Under its current note and revolving credit facilities Mountain Province is subject to certain limitations on its ability to pay dividends on common stock. The declaration of dividends is at the discretion of Mountain Province's Board of Directors, subject to the limitations under the Company's debt facilities, and will depend on Mountain Province's financial results, cash requirements, future prospects, and other factors deemed relevant by the Board
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SOURCE Mountain Province Diamonds Inc. | https://www.whsv.com/prnewswire/2022/05/03/mountain-province-diamonds-announces-strong-first-quarter-financial-results-2022/ | 2022-05-03T22:51:26Z |
NEW YORK, May 3, 2022 /PRNewswire/ -- Neuberger Berman Municipal Fund Inc. (NYSE American: NBH), Neuberger Berman California Municipal Fund Inc. (NYSE American: NBW), and Neuberger Berman New York Municipal Fund Inc. (NYSE American: NBO) have each announced an early declaration of its regular monthly distribution payable in June. The Funds seek to provide income that is exempt from regular federal income tax. Additionally, Neuberger Berman California Municipal Fund Inc. seeks to provide income that is exempt from California personal income tax and Neuberger Berman New York Municipal Fund Inc. seeks to provide income that is exempt from New York State and New York City personal income tax. Distributions of the Funds may be subject to the federal alternative minimum tax for some stockholders. Each Fund's distribution announced today is payable on June 15, 2022, has a record date of May 31, 2022 and an ex-date of May 27, 2022.
The Funds will make the distributions described above in the following per share amounts:
In compliance with Section 19 of the Investment Company Act of 1940, as amended, a notice would be provided for any distribution that does not consist solely of net investment income. The notice would be for informational purposes and not for tax reporting purposes, and would disclose, among other things, estimated portions of the distribution, if any, consisting of net investment income, capital gains and return of capital. The final determination of the source and tax characteristics of all distributions paid in 2022 will be made after the end of the year.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 25 countries, Neuberger Berman's diverse team has over 2,500 professionals. For eight consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for our approach to ESG integration across asset classes. The firm manages $447 billion in client assets as of March 31, 2022. For more information, please visit our website at www.nb.com.
Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other closed end investment companies, changes in government policy or regulation, inability of the Fund's investment adviser to attract or retain key employees, inability of the Fund to implement its investment strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.
Contact:
Neuberger Berman Investment Advisers LLC
Investor Information
(877) 461-1899
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SOURCE Neuberger Berman | https://www.whsv.com/prnewswire/2022/05/03/neuberger-berman-closed-end-municipal-funds-announce-early-declaration-regular-monthly-distributions/ | 2022-05-03T22:51:33Z |
MENLO PARK, Calif., May 3, 2022 /PRNewswire/ -- Robert Half International Inc. (NYSE: RHI) today announced that its board of directors has approved a quarterly cash dividend of $0.43 per share. The cash dividend will be paid on June 15, 2022, to all shareholders of record as of May 25, 2022.
Founded in 1948, Robert Half is the world's first and largest specialized talent solutions and business consulting firm that connects opportunities at great companies with highly skilled job seekers. The company offers contract and permanent placement solutions for finance and accounting, technology, marketing and creative, legal, administrative and customer support roles.
Named to FORTUNE's World's Most Admired Companies®, the Bloomberg Gender-Equality Index and Forbes' list of America's Best Employers for Diversity, Robert Half is the parent company of Protiviti, a global consulting firm that provides internal audit, risk, business and technology consulting solutions.
Robert Half has talent solutions and consulting operations in more than 400 locations worldwide.
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SOURCE Robert Half | https://www.whsv.com/prnewswire/2022/05/03/robert-half-announces-quarterly-dividend/ | 2022-05-03T22:51:39Z |
NEW YORK, May 3, 2022 /PRNewswire/ -- De Beers diamonds shined on Simone Ashley, Olivia Rodrigo, Mindy Kaling, Kacey Musgraves and Eva Chen at the annual Met Gala in New York City. The gala celebrated Metropolitan Museum of Art's "In America: An Anthology of Fashion", the finale of a two-part exhibit and attendees perfectly embodied the "Gilded Glamour" dress code for the evening in natural diamond looks by De Beers Jewellers.
Bridgerton star Simone Ashley looked radiant in her black and gold ensemble showcasing the night's gilded dress code in De Beers' latest High Jewelry collection, The Alchemist of Light. She wore a statement choker necklace featuring a 4.22 carat fancy brownish yellow diamond at its center set in black rhodium plated 18k white gold with complementing diamond drop earrings and a ring, all from the 'Light Rays' set, a striking visual interpretation of sunlight radiating through shadowy clouds.
Singer and songwriter Olivia Rodrigo was whimsical in a lavender gown with butterfly embellishments in her flowing hair. Her De Beers diamond jewelry perfectly accented her youthful look with statement diamond line earrings and a ring from the Arpeggia collection, appropriately inspired by musical notes and a visual form of melody. She also accessorized with a butterfly high jewelry ring and a classic bezel-set diamond line necklace.
Actor and comedian Mindy Kaling also chose a lavender-hued gown and paired it with delightfully colorful high jewelry from De Beers' Reflections of Nature collection, inspired by the breathtaking landscapes where its diamonds are discovered in Botswana, South Africa, Namibia and Canada.
Singer and songwriter Kacey Musgraves dazzled in a black gown bejeweled with firework embellishments and De Beers' 'Motlatse Marvel' necklace featuring pink, orange, yellow and white diamonds that mirrored her festive dress in a sunburst pattern. She also chose a pear-shaped diamond cocktail ring, statement bracelet and pair of classic diamond studs.
De Beers looks at the 2022 Met Gala include:
Simone Ashley in De Beers Jewellers at the 2022 Met Gala
- De Beers The Alchemist of Light 'Light Rays' Collar Necklace set in 18K Black Rhodium Plated White Gold Featuring a 4.22 Carat Fancy Brownish Yellow Radiant-Cut Diamond Surrounded by White Diamonds
- De Beers The Alchemist of Light 'Light Rays' Fringe Earrings set in 18K Black Rhodium Plated White Gold featuring Fancy Deep Brownish Yellow & Fancy Deep Greenish Yellow Pear-Shaped Diamonds Paired with White Pear-Shaped Diamonds
- De Beers The Alchemist of Light 'Light Rays' Crown Ring set in 18K Black Rhodium Plated White Gold featuring a 1.08 Carat Fancy Vivid Orange Yellow Square Emerald-Cut Diamond Surrounded by White Diamonds
Olivia Rodrigo in De Beers Jewellers at the 2022 Met Gala
- De Beers Portraits of Nature Monarch Butterfly White Diamond Ring set in 18K White Gold, 2.95 carats
- De Beers Arpeggia Three-Line Diamond Earrings set in 18K White Gold, 9.13 carats
- De Beers DB Classic Bezel-Set Flexible Diamond Necklace set in 18K White Gold, 5.89 carats
- De Beers Arpeggia Three-Row Diamond Ring set in 18K White Gold, 1.64 carats
Kacey Musgraves in De Beers Jewellers at the 2022 Met Gala
- De Beers Reflections of Nature Motlatse Marvel Diamond Necklace set in 18K White, Yellow & Rose Gold, 66.00 carats
- De Beers DB Classic Round Brilliant Diamond Studs set in Platinum, 4.04 carats
- De Beers Phenomena Glacier Diamond Bracelet set in 18k White Gold, 12.28 carats
- De Beers Volute Ring set in Platinum, 6.80 carats
Mindy Kaling in De Beers Jewellers at the 2022 Met Gala
- De Beers Reflections of Nature Namib Wonder Bird Medallion set in 18K White & Yellow Gold, 43.90 carats
- De Beers Reflections of Nature Motlatse Marvel Earrings set in 18K White, Yellow & Rose Gold, 5.48 carats
- De Beers Reflections of Nature Motlatse Marvel Bracelet set in 18K White, Yellow & Rose Gold, 26.98 carats
- De Beers Reflections of Nature Motlatse Marvel Ring set in 18K White, Yellow & Rose Gold, 4.73 carats
Eva Chen in De Beers Jewellers at the 2022 Met Gala
- De Beers Swan Lake Diamond Necklace set in 18K Rose Gold, 25.26 carats
Download images here
About De Beers Jewellers
Founded in London, with a flagship store on Old Bond Street and a presence in the most exclusive locations around the world, De Beers Jewellers is the pinnacle of luxury diamond jewelry. Building on De Beers' 130 years of expertise, the House glorifies the world's most beautiful diamonds through creativity and craftsmanship in bold, distinctive designs.
De Beers is invested in ensuring all the diamonds it discovers create a lasting positive impact for people and the places where they are found. This comes with a pledge to build a better future – one that is fairer, safer, cleaner and healthier, in which communities thrive, ethical practices are maintained, and the natural environment is protected. We call this long-term commitment Building Forever.
De Beers Jewellers has 30 stores globally and ships to 15 markets via debeers.com.
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SOURCE DE BEERS | https://www.whsv.com/prnewswire/2022/05/03/simone-ashley-olivia-rodrigo-mindy-kaling-kacey-musgraves-eva-chen-shine-de-beers-2022-met-gala/ | 2022-05-03T22:51:46Z |
Pro Forma RevPAR Increases 78%; 2019 RevPAR Recapture Rate Reaches New Quarterly High
Completed the Acquisition of $822 Million 27-Hotel NewcrestImage Portfolio
Accretive Transaction Activity Continues with Pending Acquisition of AC Hotel by Marriott & Element Miami Brickell and Pending Sale of Hilton Garden Inn San Francisco Airport North
AUSTIN, Texas, May 3, 2022 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), today announced results for the first quarter ended March 31, 2022.
"Our operating results continue to improve as we have begun to see a more meaningful increase in demand segments beyond the robust leisure travel demand that has driven the industry's results in the early part of the recovery. We were particularly encouraged by the sequential monthly improvements we experienced across all operating and financial metrics, including first quarter hotel-level profitability that was more than three times higher compared to a year ago. President's Day weekend again served as a notable demand inflection point across our portfolio, culminating with March RevPAR of $120 – a 87% recapture to 2019 – and hotel EBITDA margin of 40%, the highest we have achieved since the onset of the pandemic," said Jonathan P. Stanner, the Company's President and Chief Executive Officer.
"In January, we closed on the previously announced acquisition of 27 hotels from NewcrestImage, which represented the largest transaction in the Company's history and significantly increased our presence in high growth Sun Belt markets. We are also excited to announce the pending acquisition of the newly developed dual-branded AC Hotel by Marriott and Element located in the rapidly growing Brickell submarket of Miami. The transaction represents our first exercised option in connection with our mezzanine lending program. Since the onset of the pandemic, we have closed or announced the acquisition of nearly $1 billion of high-quality hotels. In addition, our joint venture with GIC has entered into an agreement to sell the Hilton Garden Inn San Francisco Airport North hotel for $75 million, or $444,000 per key, nearly 30% higher than what we acquired the hotel for in 2019. Collectively, these transactions demonstrate our ability to thoughtfully and opportunistically allocate capital, and we remain well positioned for future growth," continued Mr. Stanner.
First Quarter 2022 Summary
- Net Loss: Net loss attributable to common stockholders improved to $12.4 million, or $0.12 per diluted share, compared to a net loss of $35.1 million, or $0.34 per diluted share, for the first quarter of 2021.
- Pro forma RevPAR: Pro forma RevPAR increased 77.9 percent to $97.09 compared to the first quarter of 2021. Pro forma ADR increased 47.5 percent to $151.97 compared to the same period in 2021, and pro forma occupancy increased 20.6 percent to 63.9 percent.
- Same Store RevPAR: Same Store RevPAR increased 87.6 percent to $98.30 compared to the first quarter of 2021. Same store ADR increased 49.5 percent to $155.63 compared to the same period in 2021, and same store occupancy increased 25.5 percent to 63.2 percent.
- Pro Forma Hotel EBITDA(1): Pro forma hotel EBITDA increased to $47.3 million from $15.8 million in the same period in 2021. Pro forma hotel EBITDA margin expanded to 32.6 percent from 19.7 percent in the same period of 2021.
- Same Store Hotel EBITDA(1): Same store hotel EBITDA increased to $33.8 million from $7.7 million in the same period in 2021. Same store hotel EBITDA margin expanded to 31.2 percent from 13.3 percent in the same period of 2021.
- Adjusted EBITDAre(1): Adjusted EBITDAre increased to $32.9 million from $6.2 million in the first quarter of 2021.
- Adjusted FFO(1): Adjusted FFO was $20.1 million, or $0.17 per diluted share, compared to ($6.9) million, or ($0.07) per diluted share, in the first quarter of 2021.
The Company's results for the three months ended March 31, 2022, are as follows (in thousands, except per share amounts):
Monthly Operating Data
Transaction Activity
During the first quarter, the Company completed the previously announced 27-hotel portfolio acquisition through its existing joint venture with GIC from affiliates of NewcrestImage. The transaction included 27 hotels totaling 3,709 guestrooms, two parking structures, and various financial incentives. The total consideration for the transaction is comprised of $776.5 million, or $209,000 per key, for the 27-hotel portfolio, $24.8 million for the two parking structures, and $20.7 million for the various financial incentives.
Pending Transactions
Acquisition of the AC Hotel by Marriott & Element Miami Brickell
Subsequent to quarter-end, the Company exercised its initial equity purchase option to acquire a 90% interest in the newly constructed, dual-branded 264-guestroom AC Hotel by Marriott & Element Miami Brickell (the "Brickell Hotels"). The option price was based on a gross hotel valuation of $89.0 million, or $337,000 per key, and the Company expects to fund its estimated $38 million equity requirement with the conversion of the previously funded $30 million mezzanine construction loan, which earned 9% cash interest during the loan term, and $8 million in cash. The transaction will be funded with the assumption of an estimated $47 million mortgage loan that will have a variable interest rate of 30-day LIBOR + 300 basis points and maturity date of February 15, 2025.
Opened in December 2021, the Brickell Hotels are located in the heart of Brickell, a chic and vibrant neighborhood of downtown Miami, and adjacent to the Brickell City Centre - downtown Miami's landmark mixed-use development consisting of 5.4 million square feet of office, residential, retail and entertainment space. The Brickell Hotels' premier location creates a unique opportunity to capitalize on Miami's robust corporate and leisure demand growth. The Brickell Hotels feature Rosa Sky, a rooftop bar and lounge, an amenity deck with a pool, cabana seating, and outdoor bar, the AC lounge restaurant and bar, modern fitness center, nearly 5,000 square feet of meeting and event space, and 150 structured parking spaces in the property's garage.
The Miami market has been a leader in the lodging recovery during the pandemic ranking first in the nation in nominal RevPAR in both 2020 and 2021 and one of only three markets among the top 25 in the U.S. that surpassed 2019 RevPAR levels in 2021. The Miami market was the best performing top 25 market in the first quarter of 2022 surpassing the comparable 2019 RevPAR by 18%.
The transaction is expected to close during the second quarter of 2022. The project was developed by an affiliate of Robert Finvarb Companies, LLC, an established Miami based developer, who will remain our joint venture partner with a 10% equity interest in the Brickell Hotels. Upon closing, a $10 million letter of credit that currently supports the equity purchase option will be released and the Company will retain the option to acquire the remaining 10% equity interest of the Brickell Hotels in December 2026.
Disposition of the Hilton Garden Inn San Francisco Airport North
Subsequent to quarter end, the Company's joint venture with GIC entered into a contract to sell the 169-guestroom Hilton Garden Inn San Francisco Airport North for total consideration of $75.0 million, or $444,000 per key. The transaction represents a 1.0% capitalization rate based on the hotel's net operating income after a 4% FF&E reserve for the twelve months ended March 31, 2022. The Company will also forego a comprehensive renovation that was scheduled for late 2022 estimated to be $7.1 million, or $42,000 per key, as a result of the sale.
The joint venture acquired the hotel in October 2019 for $58.0 million, or $343,000 per key, and the transaction is expected to result in a $20.5 million net gain on sale. Net proceeds from the transaction are estimated to be $73 million, of which the Company's share will be equal to approximately $37 million. The Company expects to use the net sale proceeds to repay indebtedness and for other general corporate purposes.
Capital Markets and Balance Sheet
On March 31, 2022, inclusive of its pro rata share of the Joint Venture debt, the Company had the following:
- Pro rata outstanding debt of $1.2 billion with a weighted average interest rate of 3.39 percent.
- After giving effect to interest rate derivative agreements, $839.0 million, or 69 percent, of our pro rata outstanding debt had fixed interest rates, and $377.2 million, or 31 percent, had variable interest rates.
- Pro rata unrestricted cash and cash equivalents of $62.7 million.
- Revolving credit facility availability of $340.0 million, plus an additional $50.0 million available to borrow subject to certain requirements. The Company had no borrowings outstanding on its revolving credit facility.
- Total liquidity of $452.7 million, including unrestricted cash and cash equivalents and revolving credit facility availability.
Capital Improvements
The Company invested $10.3 million during the three months ended March 31, 2022 and plans to invest a total of $60.0 million to $80.0 million on a consolidated basis and $50.0 million to $70.0 million on a pro rata basis for the full year 2022. The Company anticipates completing or starting renovations at 13 hotels during the year, nine of which are expected to commence in the fourth quarter. Renovations expected to be complete by year-end include the Hilton Garden Inn Houston Energy Corridor, Hyatt Place Orlando Universal Studios, and SpringHill Suites Nashville MetroCenter.
Dividends
On April 29, 2022, the Company declared a quarterly cash preferred dividend of $0.390625 per share of the Company's 6.25% Series E Cumulative Redeemable Preferred Stock for the dividend period ending on May 31, 2022, and a cash dividend of $0.3671875 per share of the Company's 5.875% Series F Cumulative Redeemable Preferred Stock for the dividend period ending on May 31, 2022.
The Company also declared on behalf of the operating partnership, distributions pertaining to the operating partnership's unregistered 5.25% Series Z Cumulative Perpetual Preferred Units that were issued as part of the recently completed NewcrestImage portfolio acquisition. The cash distributions are $0.328125 per unit for the units issued on January 13, 2022, and $0.249660 per unit for the units issued on March 23, 2022.
The dividends and distributions are payable on May 31, 2022, to holders of record as of May 17, 2022.
2022 Outlook
Given the continued uncertainty and volatility of the operating environment, the Company is not providing operational or earnings guidance at this time. However, the Company is providing its expectations for certain non-operational items based on 101 hotels owned as of March 31, 2022 and pending transaction activity including the acquisition of the 264-guestroom dual-branded AC Hotel by Marriott & Element Miami Brickell and the disposition of the 169-guestroom Hilton Garden Inn San Francisco Airport North currently owned by the Company's joint venture with GIC, both of which are expected to be completed during the second quarter of 2022.
First Quarter 2022 Earnings Conference Call
The Company will conduct its quarterly conference call on Wednesday, May 4, 2022, at 9:00 AM ET. To participate in the conference call, please follow the steps below:
- On May 4, 2022, dial 877-930-8101 approximately ten minutes before the call begins (8:50 AM ET).
- Enter conference identification code 3183004.
- Please state your full name and company affiliation and you will be connected to the call.
A live webcast of the quarterly conference call will be available through the Company's website, www.shpreit.com. A replay of the quarterly conference call webcast will be available until 12:00 PM ET Wednesday, May 11, 2022, by dialing 855-859-2056, conference identification code 3183004. A replay will also be available in the Investor Relations section of the Company's website until July 31, 2022.
About Summit Hotel Properties
Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of May 3, 2022, the Company's portfolio consisted of 101 hotels, 61 of which are wholly owned, with a total of 15,228 guestrooms located in 24 states.
For additional information, please visit the Company's website, www.shpreit.com, and follow the Company on Twitter at @SummitHotel_INN. Investors and others should note that the Company routinely announces material information to investors and the marketplace using U.S. Securities and Exchange Commission filings, press releases, public conference calls, webcasts, and the Investors section of the Company's website. The Company uses these channels as well as social media channels (e.g., the Company's Twitter account @SummitHotel_INN) as a means of disclosing information about the Company's business to our colleagues, investors, and the public. While not all the information that the Company posts to the Company's website or on the Company's social media channels is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media, and others interested in the Company to review the information that it shares on https://investor.shpreit.com/corporate-profile.
Forward-Looking Statements
This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "seek," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," "forecast," "continue," "plan," "likely," "would" or other similar words or expressions. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections, or other forward-looking information. Examples of forward-looking statements include the following: the Company's ability to realize growth from the allocation of capital; projections of the Company's cash corporate G&A, interest expense, capital expenditures or other financial items; descriptions of the Company's plans or objectives for future operations, acquisitions, dispositions, and financings; and descriptions of assumptions underlying or relating to any of the foregoing expectations regarding the timing of their occurrence. These forward-looking statements are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company's control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, supply and demand in the hotel industry, and other factors as are described in greater detail in the Company's filings with the Securities and Exchange Commission ("SEC"). Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
For information about the Company's business and financial results, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of the Company's Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC, and its quarterly and other periodic filings with the SEC. The Company undertakes no duty to update the statements in this release to conform the statements to actual results or changes in the Company's expectations.
Non-GAAP Financial Measures
We disclose certain "non-GAAP financial measures," which are measures of our historical financial performance. Non-GAAP financial measures are financial measures not prescribed by Generally Accepted Accounting Principles ("GAAP"). These measures are as follows: (i) Funds From Operations ("FFO") and Adjusted Funds from Operations ("AFFO"), (ii) Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA"), Earnings before Interest, Taxes, Depreciation and Amortization for Real Estate ("EBITDAre"), Adjusted EBITDAre, and hotel EBITDA (as described below). We caution investors that amounts presented in accordance with our definitions of non-GAAP financial measures may not be comparable to similar measures disclosed by other companies, since not all companies calculate these non-GAAP financial measures in the same manner. Our non-GAAP financial measures should be considered along with, but not as alternatives to, net income (loss) as a measure of our operating performance. Our non-GAAP financial measures may include funds that may not be available for our discretionary use due to functional requirements to conserve funds for capital expenditures, property acquisitions, debt service obligations and other commitments and uncertainties. Although we believe that our non-GAAP financial measures can enhance the understanding of our financial condition and results of operations, these non-GAAP financial measures are not necessarily better indicators of any trend as compared to a comparable measure prescribed by GAAP such as net income (loss).
Funds From Operations ("FFO") and Adjusted FFO ("AFFO")
As defined by Nareit, FFO represents net income or loss (computed in accordance with GAAP), excluding preferred dividends, gains (or losses) from sales of real property, impairment losses on real estate assets, items classified by GAAP as extraordinary, the cumulative effect of changes in accounting principles, plus depreciation and amortization related to real estate assets, and adjustments for unconsolidated partnerships, and joint ventures. AFFO represents FFO excluding amortization of deferred financing costs, franchise fees, equity-based compensation expense, debt transaction costs, premiums on redemption of preferred shares, losses from net casualties, non-cash lease expense, non-cash interest income and non-cash income tax related adjustments to our deferred tax assets. Unless otherwise indicated, we present FFO and AFFO applicable to our common shares and common units. We present FFO and AFFO because we consider FFO and AFFO an important supplemental measure of our operational performance and believe it is frequently used by securities analysts, investors, and other interested parties in the evaluation of REITs, many of which present FFO and AFFO when reporting their results. FFO and AFFO are intended to exclude GAAP historical cost depreciation and amortization, which assumes that the value of real estate assets diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. Because FFO and AFFO exclude depreciation and amortization related to real estate assets, gains and losses from real property dispositions and impairment losses on real estate assets, FFO and AFFO provide performance measures that, when compared year over year, reflect the effect to operations from trends in occupancy, guestroom rates, operating costs, development activities and interest costs, providing perspective not immediately apparent from net income. Our computation of FFO differs slightly from the computation of Nareit-defined FFO related to the reporting of corporate depreciation and amortization expense. Our computation of FFO may also differ from the methodology for calculating FFO used by other equity REITs and, accordingly, may not be comparable to such other REITs. FFO and AFFO should not be considered as an alternative to net income (loss) (computed in accordance with GAAP) as an indicator of our liquidity, nor is it indicative of funds available to fund our cash needs, including our ability to pay dividends or make distributions. Where indicated in this release, FFO is based on our computation of FFO and not the computation of Nareit-defined FFO unless otherwise noted.
EBITDA, EBITDAre, Adjusted EBITDAre, and Hotel EBITDA
EBITDA
EBITDA represents net income or loss, excluding: (i) interest, (ii) income tax expense and (iii) depreciation and amortization. We believe EBITDA is useful to an investor in evaluating our operating performance because it provides investors with an indication of our ability to incur and service debt, to satisfy general operating expenses, to make capital expenditures and to fund other cash needs or reinvest cash into our business. We also believe it helps investors meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our asset base (primarily depreciation and amortization) from our operating results. Our management team also uses EBITDA as one measure in determining the value of acquisitions and dispositions.
EBITDAre and Adjusted EBITDAre
EBITDAre is based on EBITDA and is expected to provide additional relevant information about REITs as real estate companies in support of growing interest among generalist investors. EBITDAre is intended to be a supplemental non-GAAP performance measure that is independent of a company's capital structure and will provide a uniform basis to measure the enterprise value of a company compared to other REITs.
EBITDAre, as defined by Nareit, is calculated as EBITDA, excluding: (i) loss and gains on disposition of property and (ii) asset impairments, if any. We believe EBITDAre is useful to an investor in evaluating our operating performance because it provides investors with an indication of our ability to incur and service debt, to satisfy general operating expenses, to make capital expenditures and to fund other cash needs or reinvest cash into our business. We also believe it helps investors meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our asset base (primarily depreciation and amortization) from our operating results.
We make additional adjustments to EBITDAre when evaluating our performance because we believe that the exclusion of certain additional non-recurring or certain non-cash items described below provides useful supplemental information to investors regarding our ongoing operating performance. We believe that the presentation of Adjusted EBITDAre, when combined with the primary GAAP presentation of net income, is useful to an investor in evaluating our operating performance because it provides investors with an indication of our ability to incur and service debt, to satisfy general operating expenses, to make capital expenditures and to fund other cash needs or reinvest cash into our business. We also believe it helps investors meaningfully evaluate and compare the results of our operations from period to period by removing the effect of our asset base (primarily depreciation and amortization) from our operating results.
Hotel EBITDA
With respect to hotel EBITDA, we believe that excluding the effect of corporate-level expenses and non-cash items provides a more complete understanding of the operating results over which individual hotels and operators have direct control. We believe the property-level results provide investors with supplemental information on the ongoing operational performance of our hotels and effectiveness of the third-party management companies operating our business on a property-level basis.
We caution investors that amounts presented in accordance with our definitions of EBITDA, EBITDAre, adjusted EBITDAre, and hotel EBITDA may not be comparable to similar measures disclosed by other companies, since not all companies calculate these non-GAAP measures in the same manner. EBITDA, EBITDAre, adjusted EBITDAre, and hotel EBITDA should not be considered as an alternative measure of our net income (loss) or operating performance. EBITDA, EBITDAre, adjusted EBITDAre, and hotel EBITDA may include funds that may not be available for our discretionary use due to functional requirements to conserve funds for capital expenditures and property acquisitions and other commitments and uncertainties. Although we believe that EBITDA, EBITDAre, adjusted EBITDAre, and hotel EBITDA can enhance your understanding of our financial condition and results of operations, these non-GAAP financial measures are not necessarily a better indicator of any trend as compared to a comparable GAAP measure such as net income (loss). Above, we include a quantitative reconciliation of EBITDA, EBITDAre, adjusted EBITDAre and hotel EBITDA to the most directly comparable GAAP financial performance measure, which is net income (loss) and operating income (loss).
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SOURCE Summit Hotel Properties, Inc. | https://www.whsv.com/prnewswire/2022/05/03/summit-hotel-properties-reports-first-quarter-2022-results/ | 2022-05-03T22:51:53Z |
IRVINGTON, N.Y., May 3, 2022 /PRNewswire/ -- Sunnyside Bancorp, Inc. (OTCBB: SNNY) (the "Company") announced today that all regulatory approvals have been received relating to the acquisition of the Company and its wholly-owned subsidiary, Sunnyside Federal Savings and Loan Association of Irvington, by Rhodium BA Holdings LLC, a New York-based private equity group. The Company's shareholders previously approved the acquisition at a special meeting of shareholders held on November 10, 2021.
Under the merger agreement signed between the parties, upon closing, each share of the Company's issued and outstanding common stock will be exchanged for $20.25 in cash.
The parties are diligently working towards closing of the transaction, which is expected to occur no later than May 31, 2022.
Sunnyside Bancorp, Inc., headquartered in Irvington, New York, is the parent of Sunnyside Federal Savings and Loan Association, a federally chartered stock savings and loan association founded in 1930. Sunnyside Federal offers a wide range of financial services through its office located in Irvington, New York. Sunnyside Bancorp, Inc.'s common stock trades on the Over-the-Counter Bulletin Board under the symbol "SNNY."
Rhodium BA Holdings LLC was formed by Mark Silber to purchase Sunnyside Bancorp, Inc. Mark Silber is a Managing Partner of Rhodium Asset Management and of Rhodium Capital Advisors, a New York-based fully integrated real estate investment firm with a primary focus on the preservation, acquisition, and management of affordable housing across the United States. Neither Rhodium Asset Management nor Rhodium Capital Advisors is participating in the purchase of Sunnyside Bancorp, Inc. Rhodium BA Holdings LLC, through a special purpose subsidiary, currently owns 9.82% of the Company's outstanding common stock.
Timothy D. Sullivan
President and Chief Executive Officer, Sunnyside Bancorp, Inc.
tsullivan@sunnysidefederal.com
(914) 591-8000
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SOURCE Sunnyside Bancorp Inc. | https://www.whsv.com/prnewswire/2022/05/03/sunnyside-bancorp-announces-receipt-regulatory-approvals/ | 2022-05-03T22:52:00Z |
National publication highlights legal 'heroes' who seek justice for consumers
DALLAS, May 3, 2022 /PRNewswire/ -- Veteran trial lawyer Majed Nachawati has been named among the Lawdragon 500 Leading Plaintiff Consumer Lawyers for 2022.
The national honor places Mr. Nachawati among the best trial lawyers in the country and highlights his leadership in high-profile multidistrict litigation. Mr. Nachawati represents individuals and public entities harmed by dangerous products, chemicals, highly addictive prescription opioids and the 2021 Texas winter storm blackout.
This year's honorees are described by Lawdragon CEO Katrina Dewey as "heroes" who "relish their role of underdog, taking on the toughest cases and typically only getting paid if they win."
"These are the lawyers who stand on the front line in individual lawsuits and class actions seeking justice," said Ms. Dewey.
Mr. Nachawati has forged a reputation for spearheading aggressive legal strategies in complex multidistrict litigation. His team recently secured a closely watched appellate ruling for the cities of Santa Fe and Albuquerque, N.M., in ongoing litigation against manufacturers, distributors and retailers of addictive prescription opioids.
He has been an outspoken watchdog over Bayer/Monsanto's treatment of patients with non-Hodgkins lymphoma, developed after using the Roundup herbicide. And he has battled Johnson & Johnson's extreme move to declare bankruptcy to shed legal liabilities to women who developed ovarian cancer after using J&J's talcum powder products.
"Being a true advocate in these cases often means taking a stand and going the extra mile in a legal fight," Mr. Nachawati said. "I'm proud of the work we do in this arena, and I'm thrilled that our hard work has not gone unnoticed."
The Lawdragon 500 guide, which is published annually, relies on editorial evaluations, peer and client nominations, and independent third-party research to recognize the nation's most accomplished attorneys in various practice areas. For a complete list of Lawdragon's 500 Leading Plaintiff Consumer Lawyers for 2022, click here.
Mr. Nachawati represents individuals in mass-tort litigation, businesses and governmental entities in contingent litigation and individual victims in complex personal injury litigation. The Fears Nachawati law firm is one of the largest and most diverse products liability law firms in the nation. The firm is ranked No. 1 nationally in products liability filings in federal court over the past three years, according to Lex Machina. For more information visit https://www.fnlawfirm.com.
Media Contact:
Robert Tharp
800-559-4534
Robert@androvett.com
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SOURCE Fears Nachawati Law Firm | https://www.whsv.com/prnewswire/2022/05/03/trial-lawyer-majed-nachawati-named-lawdragon-list-500-leading-plaintiff-consumer-lawyers/ | 2022-05-03T22:52:06Z |
National Travel and Tourism Week Spotlights the Collective Strength of the U.S. Travel Industry
HELENA, Mont., May 3, 2022 /PRNewswire/ -- Montana is joining tourism partners throughout the state to celebrate the travel and tourism industry – the state's second-largest industry – during National Travel and Tourism Week (NTTW) May 1-7, 2022.
"Tourism plays a critical role in Montana's economy," said Scott Osterman, Director of the Montana Department of Commerce. "This week celebrates the work of the hospitality industry throughout the state and the thousands of local Montanans employed in various sectors of travel."
Celebrated annually the first full week in May, this year's theme is Future of Travel and focuses on workforce, sustainability, creating connections and more as the industry looks ahead to future growth and success following the challenges of the past two years.
A critical driver of the state's economy, tourism has a far-reaching effect in Montana, with data from the Institute for Tourism & Recreation Research (ITRR) showing an impact that includes:
- Montana welcomed an estimated 12.5 million nonresident visitors in 2021
- Nonresident visitors spent an estimated $5.22 billion in 2021
- That nonresident visitor spending supported $4.42 billion of economic activity in 2021
- Travel, tourism and hospitality supported 68,630 jobs and contributed $2.038 billion in employee compensation
"Montana is a place that remains high on the bucket list of many travelers," said Jan Stoddard, Bureau Chief for the Montana Office of Tourism. "Year after year, we see the positive impacts of nonresident traveler spending as it touches every community in every corner of the state."
Destination Analysts reports that nearly 90% of Americans have a trip planned in 2022, with family trips, solo trips and reunion trips being a high priority.
"NTTW has special significance this year as the travel industry looks ahead to a bright future," said U.S. Travel Association President and CEO Roger Dow. "This NTTW is an opportunity to recognize the collective strength of the U.S. travel industry and how we are rebuilding to be more dynamic, innovative, sustainable and inclusive in the months and years to come."
For more information on Montana's tourism industry and marketing efforts, visit MarketMT.com.
About Visit Montana
Visit Montana markets Montana's spectacular unspoiled nature, vibrant and charming small towns, breathtaking experiences, relaxing hospitality, and competitive business climate to promote the state as a place to visit and do business. For more information, go to VISITMT.COM.
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SOURCE Visit Montana | https://www.whsv.com/prnewswire/2022/05/03/visit-montana-celebrates-future-travel/ | 2022-05-03T22:52:12Z |
SÃO PAULO, May 3, 2022 /PRNewswire/ -- ZENVIA Inc. ("ZENVIA" or "Company") (NASDAQ: ZENV), the leading cloud-based CX communications platform in Latin America empowering companies to transform their existing communications with end-customers along their life cycle, announced today it will host its conference call and earnings webcast to discuss first quarter 2022 financial results on Friday, May 6, 2022 at 12:00 pm ET instead of the previously announced time of 10:00 am ET. A press release with first quarter 2022 financial results will be issued after the market closes on Thursday, May 05, 2022.
The live webcast of the call can be accessed from ZENVIA's investor relations website at https://investors.zenvia.com. A replay will be available at https://investors.zenvia.com/financial-information/financial-results/ following the call.
ZENVIA is driven by the purpose of empowering companies to create unique experiences for customer communications through its unified end-to-end platform. ZENVIA empowers companies to transform their existing customer communications from non-scalable, physical, and impersonal interactions into highly scalable, digital first and hyper contextualized experiences across the customer journey. ZENVIA's unified end-to-end CX communications platform provides a combination of (i) SaaS focused on campaigns, sales teams, customer service and engagement, (ii) tools, such as software application programming interfaces, or APIs, chatbots, single customer view, journey designer, documents composer and authentication, and (iii) channels, such as SMS, Voice, WhatsApp, Instagram and Webchat. Its comprehensive platform assists customers across multiple use cases, including marketing campaigns, customer acquisition, customer onboarding, warnings, customer services, fraud control, cross-selling and customer retention, among others. ZENVIA's shares are traded on Nasdaq, under the ticker ZENV.
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SOURCE Zenvia | https://www.whsv.com/prnewswire/2022/05/03/zenvia-announces-time-change-first-quarter-2022-earnings-call-may-06-2022-1200-pm-eastern-time/ | 2022-05-03T22:52:18Z |
Washington reaches $518M settlement with opioid distributors
SEATTLE (AP) — Months into a complex trial over their role in flooding Washington with highly addictive painkillers, the nation’s three largest opioid distributors agreed Tuesday to pay the state $518 million, with the vast majority being directed toward easing the addiction epidemic.
Attorney General Bob Ferguson announced the deal, noting that it’s worth tens of millions of dollars more than Washington would have received from the companies if it had signed onto a national settlement reached last summer involving the distributors and Johnson & Johnson.
The agreement still requires approval from a judge and from dozens of Washington cities that pursued their own cases against the distributors — McKesson Corp., Cardinal Health Inc. and AmerisourceBergen Corp.
Under the settlement, the state would have to spend $476 million of the total to address the opioid crisis, including on substance abuse treatment; expanding access to overdose-reversal drugs; and providing housing, job placement and other services for those struggling with addiction. The rest of the money would go toward litigation costs.
“We could have joined the overwhelming majority of states and settled with the the largest opioid distributors, but we chose to fight them in court instead,” Ferguson said. “That decision to take them to court will result in significant additional resources for Washington to combat the opioid epidemic.”
The three companies announced earlier this year that 46 states had signed onto the national settlement, under which they will pay nearly $20 billion over 18 years.
Ferguson, a Democrat, declined to join, calling what would have been the state’s $418 million share from the distributors insufficient. Instead, he decided to go to trial against the three distributors and separately against Johnson & Johnson.
The case against the distributors went to trial last November in King County Superior Court in Seattle, alleging violations of consumer protection and public nuisance laws, while the lawsuit against Johnson & Johnson is scheduled to go to trial in September.
The attorney general argued that the three companies shipped such a vast amount of drugs to Washington that it was obvious they were fueling addiction: Opioid sales in the state rose more than 500% between 1997 and 2011. In 2011, more than 112 million daily doses of all prescription opioids were dispensed in the state — enough for a 16-day supply for every resident. In 2015, eight of Washington’s 39 counties had more prescriptions than residents.
The companies rejected the accusations. They said they merely supplied opioids that had been prescribed by doctors, and it wasn’t their role to second-guess the prescriptions or interfere in the doctor-patient relationship.
Further, the companies argued, Washington state itself played a large role in the epidemic. In the 1990s, concerned that people in chronic pain were being undertreated, lawmakers passed the Intractable Pain Act, which made it easier to prescribe opioids.
In a written statement Tuesday, the distributors said the settlement “will further the companies’ goal of achieving broad resolution of governmental opioid claims while delivering meaningful relief to communities across the United States that have been impacted by the opioid epidemic.”
Over the last two decades, the deaths of more than 500,000 Americans have been linked to overdoses of opioids, including both prescription pain kills and illicit drugs such as heroin and illegally produced fentanyl.
Across the U.S., many lawsuits filed by governments over the toll of the drugs have been resolved in recent years — most with settlements, and some with judgments or verdicts in trials. So far, drug makers, distributors and pharmacies have agreed to settlements totaling well over $40 billion, according to an Associated Press tally.
The new Washington state settlement stands as the largest between a single state and a company or group of companies, topping a $484 million deal announced in March between CVS and Florida.
Trials are underway in courts in West Virginia, Florida and California. A decision has not yet been issued after another trial last year in West Virginia.
___
AP reporter Geoff Mulvihill in Cherry Hill, New Jersey, contributed.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/05/03/washington-reaches-518m-settlement-with-opioid-distributors/ | 2022-05-03T22:52:24Z |
Mint Chocolate Chance Giveaway at Navy Pier Kicks Off National Teacher Appreciation Week and Offer for Free Ben & Jerry's for Teachers in Chicagoland Area
CHICAGO, May 3, 2022 /PRNewswire/ -- Chance the Rapper dished out the first ceremonial scoop to honor a group of people who are as selfless as they are instrumental in helping all people to thrive: teachers.
As hundreds and hundreds of Chance the Rapper fans queued up among the large group at Navy Pier, Chicago's son greeted the crowd who responded with tremendous energy. "There is no profession more important and responsible for every single person in our entire country than teachers. Today, we honor them," said Chance the Rapper. "Today, and this week, we're doing something really cool… offering free Ben & Jerry's for teachers in Chicago."
The collective team announced the plan to give teachers free ice cream this week (May 2-6) at all three participating Ben & Jerry's Scoop Shops in the greater Chicagoland area including Navy Pier, Glenview, and Naperville.
Mint Chocolate Chance, Ben & Jerry's most exciting flavor of the year, is a cool mint base with fudgy chocolate brownies. It was inspired by Chance the Rapper's childhood memories when he would add his mother's homemade brownies to mint ice cream. Mint Chocolate Chance is available as both ice cream and as a sunflower butter-based Non-Dairy dessert. His flavor, and all Ben & Jerry's flavors, will be up for the choosing for teachers during the National Teacher Appreciation Week giveaway.
Chance the Rapper donates a percentage of his proceeds to his five-year-old non-profit, SocialWorks. SocialWorks aims to empower youth through the arts, education and civic engagement with programming that focuses on education, mental health, homelessness and performing and literary arts. SocialWorks directly impacts thousands of young people yearly while inspiring creativity, building dreams and advocating for youth success in all its forms.
To learn more about the partnership, visit benjerry.com.
Ben & Jerry's is an aspiring social justice company that believes in a greater calling than simply making and selling the world's best ice cream. The company produces a wide variety of super-premium ice cream and Non-Dairy/vegan desserts using high-quality ingredients and lots of big chunks and swirls. As a certified B Corp, Ben & Jerry's incorporates its vision of Linked Prosperity into its business practices via values-led sourcing initiatives when purchasing ingredients. Ben & Jerry's is distributed in over 35 countries in supermarkets, grocery stores, convenience stores, franchised Scoop Shops, and via on-demand delivery services. Ben & Jerry's, a Vermont corporation and wholly owned subsidiary of Unilever, operates its business on a three-part Mission Statement emphasizing product quality, a fair financial return, and addressing issues of social, racial, and environmental injustice around the globe. The Ben & Jerry's Foundation, guided by Ben & Jerry's employees, granted $3.4MM in 2020 to support progressive, justice focused grassroots organizing around the country. For up-to-date information visit benjerry.com.
SocialWorks, founded by Grammy-award-winning musician and humanitarian Chance the Rapper, aims to empower the youth through the arts, education, and civic engagement. Since 2016, SocialWorks has created 5 initiatives that present youth the opportunity to learn and act on their passions. SocialWorks' programming focuses on education, mental health, homelessness, and performing and literary arts – directly affecting thousands of youth yearly. Through the initiatives, OpenMike, Warmest Winter, Kids of the Kingdom, The New Chance: Arts & Literature Fund, and My State of Mind, SocialWorks hopes to inspire creativity, build dreams, and advocate for youth success in all its forms.
For more information on SocialWorks, please visit https://www.socialworkschi.org/
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SOURCE BEN & JERRY'S | https://www.whsv.com/prnewswire/2022/05/03/chance-rapper-ben-amp-jerrys-socialworks-celebrate-those-who-teach/ | 2022-05-03T22:52:32Z |
NAPLES, Fla., May 3, 2022 /PRNewswire/ - Enveric Biosciences Inc. (NASDAQ: ENVB) ("Enveric" or the "Company"), a neuroscience-focused biotechnology company developing next-generation, psychedelic-inspired mental health medicines, today announced that its Board of Directors declared a dividend of one one-thousandth of a share of newly-designated Series C Preferred Stock, par value $0.01 per share, for each outstanding share of Enveric common stock held of record as of 5:00 p.m. Eastern Time on May 13, 2022. The outstanding shares of Series C Preferred Stock will vote together with the outstanding shares of the Company's common stock, as a single class, exclusively with respect to a proposal to increase the number of authorized shares of the Company's common stock, a proposal giving the Board of Directors the authority, as it determines appropriate, to implement a reverse stock split within twelve months following the approval of such proposal by the Company's stockholders, as well as any proposal to adjourn any meeting of stockholders called for the purpose of voting on the foregoing matters, and will not be entitled to vote on any other matter, except to the extent required under the Delaware General Corporation Law. Subject to certain limitations, each outstanding share of Series C Preferred Stock will have 1,000,000 votes per share (or 1,000 votes per one one-thousandth of a share of Series C Preferred Stock).
All shares of Series C Preferred Stock that are not present in person or by proxy at the meeting of stockholders held to vote on the above described proposals as of immediately prior to the opening of the polls at such meeting will automatically be redeemed by the Company. Any outstanding shares of Series C Preferred Stock that have not been so redeemed will be redeemed if such redemption is ordered by Enveric's Board of Directors or automatically upon the approval by Enveric's stockholders of the above described proposals.
The Series C Preferred Stock will be uncertificated, and no shares of Series C Preferred Stock will be transferable by any holder thereof except in connection with a transfer by such holder of any shares of the Company's common stock held by such holder. In that case, a number of one one-thousandths of a share of Series C Preferred Stock equal to the number of shares of Enveric's common stock to be transferred by such holder would be transferred to the transferee of such shares of common stock.
Further details regarding the Series C Preferred Stock will be contained in a report on Form 8-K to be filed by Enveric with the Securities and Exchange Commission.
About Enveric Biosciences
Enveric Biosciences (NASDAQ: ENVB) is a neuroscience company developing next-generation psychedelic-inspired mental health medicines. Enveric's robust pipeline supports drug development from the clinic to commercialization for millions of patients in need around the world suffering from conditions that include cancer-related distress, PTSD, and more. For more information, please visit www.enveric.com.
Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as "plans", " expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including, but not limited to, the ability to achieve the value creation contemplated by technical developments; the impact of the novel coronavirus (COVID-19) on Enveric's ongoing and planned clinical trials; the geographic, social and economic impact of COVID-19 on Enveric's ability to conduct its business and raise capital in the future when needed; delays in planned clinical trials; the ability to establish that potential products are efficacious or safe in preclinical or clinical trials; the ability to establish or maintain collaborations on the development of therapeutic candidates; the ability to obtain appropriate or necessary governmental approvals to market potential products; the ability to obtain future funding for developmental products and working capital and to obtain such funding on commercially reasonable terms; Enveric's ability to manufacture product candidates on a commercial scale or in collaborations with third parties; changes in the size and nature of competitors; the ability to retain key executives and scientists; and the ability to secure and enforce legal rights related to Enveric's products, including patent protection. A discussion of these and other factors, including risks and uncertainties with respect to Enveric, is set forth in Enveric's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Enveric disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Enveric Biosciences | https://www.whsv.com/prnewswire/2022/05/03/enveric-biosciences-announces-distribution-series-c-preferred-stock-holders-its-common-stock/ | 2022-05-03T22:52:38Z |
Acquisition Further Expands and Differentiates Micross' High-Reliability Product Manufacturing Capabilities
MELVILLE, N.Y., May 3, 2022 /PRNewswire/ -- Micross Components, Inc. ("Micross" or the "Company"), a leading provider of high-reliability microelectronic product and service solutions for aerospace, defense, space, medical and industrial applications and a portfolio company of Behrman Capital, today announced the acquisition of the High-Reliability Discrete Diodes and Assemblies business of Semtech Corporation (Nasdaq: SMTC), a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms.
Headquartered in Reynosa, Mexico, the business provides semiconductor solutions, including Qualified Product List ("QPL") and non-QPL diodes, rectifiers and transient voltage suppression products to aerospace, defense, medical and other high-reliability customers. The business manufactures products designed to operate across a wide range of temperatures, vibrations and other harsh environments.
Micross' acquisition – the fifth under Behrman Capital's ownership and first since consummating a continuation fund transaction in February of 2022 – addresses a number of strategic priorities for the Company. The addition of Semtech's High-Reliability Discrete Diodes and Assemblies Product portfolio provides Micross with power management components that are supported by a high degree of intellectual property. The acquisition also expands Micross' footprint with a manufacturing presence in Mexico, offering a new beachhead for future growth and expansion opportunities.
Simon Lonergan, Managing Partner of Behrman Capital, said, "This acquisition represents an extremely strong strategic fit for Micross, as the Company continues to build out its product portfolio to better serve its customer base. Adding Semtech's high-reliability discrete products to Micross' platform further differentiates the Company's leading position as a one-stop source of supply for high-reliability electronic products and services. We look forward to continuing to work with management to identify additional opportunities to drive growth at Micross."
Vince Buffa, Chairman and CEO of Micross, said, "We are delighted to partner with this team through the acquisition, to further expands Micross' capabilities. With the addition of significant manufacturing capacity, we will be better positioned to produce an even wider range of high-quality products for our customers. Together, we plan to pursue a number of compelling opportunities to further realize our exciting growth prospects, all while upholding excellent quality and service to our customers."
About Micross
Micross (https://www.micross.com) is a leading global provider of mission-critical microelectronic components and services for high-reliability markets. Micross provides a wide range of product and service solutions to customers, including Die & Wafer services, Advanced Interconnect Technology, Custom Packaging & Assembly, Component Modification Services, Electrical & Environmental Testing and other high-reliability products and services. In business for more than 40 years, Micross' extensive high-reliability capabilities serve the Aerospace & Defense, Space, Medical and Industrial markets, among others. Micross possesses the sourcing, packaging, assembly, engineering, test and logistics expertise needed to support applications throughout their entire program life cycles. For more information about Micross, please visit www.micross.com.
About Behrman Capital
Based in New York City, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company's investments are focused in three industries: defense and aerospace, healthcare services, and specialty manufacturing and distribution. Since its inception, the firm has raised $4.0 billion and is currently investing out of its sixth fund.
About Semtech
Semtech Corporation is a leading global supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the NASDAQ Global Select Market under the symbol SMTC. For more information, visit www.semtech.com.
Contact
Ross Lovern / Daniel Hoadley
Kekst CNC
ross.lovern@kekstcnc.com / daniel.hoadley@kekstcnc.com
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SOURCE Micross | https://www.whsv.com/prnewswire/2022/05/03/micross-acquires-high-reliability-discrete-diodes-assemblies-business-semtech-corporation/ | 2022-05-03T22:52:45Z |
DALLAS, May 3, 2022 /PRNewswire/ -- NexBank Capital, Inc., a financial services company and holding company of NexBank, today announced that due to strong investor demand, it closed a third private placement of $60 million of 60,000 shares of Floating-Rate Non-Cumulative Perpetual Preferred Stock, Series B on May 2, 2022. With this third closing, the Company's preferred stock offerings have reached $260 million in aggregate since the initial closing in 2021.
NexBank Capital, Inc. intends to use the net proceeds of the offering as growth capital and for other general corporate purposes. The Company's preferred stock has a private credit rating of 'BBB' from Egan-Jones Ratings Company.
Jefferies LLC served as financial advisor and Hunton Andrews Kurth LLP served as legal counsel to NexBank Capital, Inc. in the offering.
This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer or sale is not permitted.
About NexBank Capital, Inc.
NexBank Capital, Inc. is a financial services company that serves its clients through three core businesses: Institutional Banking, Commercial Banking and Mortgage Banking. It provides customized financial and banking services primarily to institutional clients, financial institutions and corporations nationwide.
NexBank | Member FDIC | Equal Housing Lender
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SOURCE NexBank Capital, Inc. | https://www.whsv.com/prnewswire/2022/05/03/nexbank-capital-inc-increases-preferred-stock-offering-260-million/ | 2022-05-03T22:52:53Z |
MERRIAM, Kan., May 3, 2022 /PRNewswire/ -- The following is a report of earnings for Seaboard Corporation (NYSE American: SEB) with offices at 9000 West 67th Street, Merriam, Kansas, for the three months ended April 2, 2022 and April 3, 2021, in millions of dollars except share and per share amounts.
Seaboard Corporation today filed its Quarterly Report on Form 10-Q with the United States Securities and Exchange Commission. Seaboard Corporation has provided access to the Quarterly Report on Form 10-Q on its website at https://www.seaboardcorp.com/investors.
Also, Seaboard Corporation announced today that its Board of Directors has authorized and declared a quarterly cash dividend of $2.25 per share of its common stock. The dividend is payable on May 23, 2022 to stockholders of record at the close of business on May 13, 2022.
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SOURCE Seaboard Corporation | https://www.whsv.com/prnewswire/2022/05/03/seaboard-corporation-report-earnings-dividend-declaration/ | 2022-05-03T22:53:00Z |
Casper Star-Tribune
CASPER – A complaint filed Friday with the Wyoming GOP claims four county-level Republican parties violated bylaws, raising further questions about whether state party leaders have been selectively enforcing rules at the expense of traditional conservatives.
Gail Symons, a Sheridan Republican and the woman behind the nonpartisan blog Civics307, claimed GOP organizations in Sheridan, Sublette, Albany and Crook counties committed minor violations of party rules. Her complaint comes as Laramie County Republicans face the prospect of losing most of their delegation over a different rules infraction.
“I urge the Party to take more appropriate action in the form of admonishment with the requirement that more care be taken to ensure compliance, rather than the heavy handed and disproportionate response of not seating delegations,” Symons wrote in her complaint.
Symons filed the complaint with Kathy Russell, the executive director of the state party, and Frank Eathorne, chairman of the state party.
The complaint is over small, likely unintentional, breaches in bylaws, but is an example of the canyon that divides the traditional Republicans and the hard-line conservatives who lead Wyoming’s GOP.
The Laramie County GOP admittedly broke rules at its county convention, which has puts the group at risk of losing most of its delegates at next week’s state Republican convention. Because Laramie County is one of a small number of county-level groups that have clashed with state party leaders, insiders pushed back against the impending punishment by noting that other counties broke rules but aren’t facing any consequences.
State GOP leaders responded by noting that no one had filed a complaint against any other counties than Laramie, apparently prompting Symons to act.
The complaint alleges, among other things, that the county Republican parties in Albany, Crook and Sublette failed to notify their respective county clerks about when they would hold their county conventions, which is required under state bylaws.
In addition, Symons wrote that “no nominations were allowed from the floor” at the Sublette County Republican convention, which is also a violation of bylaws.
“There is no reason to believe that the violations of bylaws for the five counties, including Laramie County, were a deliberate attempt to circumvent or undermine the integrity of the processes,” Symons wrote.
Rule breaking has not been scrutinized to this extent in the past, but there’s been a new emphasis put on it this year within the state and county-level Republican parties.
The number of delegates that each county gets at the state convention is based on its population, and Laramie is the most populous in the state. But if the Laramie County party loses most of its delegates, it will end up with less voting power than Niobrara, the county with the smallest population in Wyoming.
The size of a county party’s delegation ties directly to its voting power at the state Republican convention, which is set to begin Thursday. The convention is held to vote on party platforms, resolutions and rules. The decisions made and adopted at the convention can influence the state’s politics – including which bills are brought to the Wyoming Legislature.
“Should a decision be made to not seat that delegation, the Convention will be conducted without proportional representation for 27.5% of the registered Republicans in the state,” Symons wrote. “That certainly undermines the State Party position of representing Wyoming Republicans.”
Symons added that she is willing to recruit registered Republican from the counties in question to file a complaint if she is not allowed to on their behalf.
Eathorne said Friday afternoon that he did not have time to look at the complaint until the weekend. | https://www.wyomingnews.com/news/from_the_wire/fairness-complaint-filed-with-gop/article_ed3158ac-7de0-5602-b16f-922523fbf22f.html | 2022-05-03T23:28:30Z |
SALT LAKE CITY – U.S. officials announced plans Tuesday that they characterized as extraordinary to keep hundreds of billions of gallons of water stored in a reservoir on the Utah-Arizona line to prevent it from shrinking more amid prolonged drought and climate change.
The U.S. Bureau of Reclamation plans to hold back about 480,000 acre-feet of water in Lake Powell to maintain Glen Canyon Dam’s ability to produce hydropower for millions of homes and businesses in the region. That’s roughly enough water to serve 1 million to 1.5 million average households annually.
Tanya Trujillo, the bureau’s assistant secretary of water and science, said keeping the water stored in the reservoir would stave off hydropower concerns for at least 12 months, giving officials time to strategize for how to operate the dam at a lower water elevation. The lake currently holds less than one-fourth of its full capacity, and the dam produces electricity for about 5 million customers in seven U.S. states.
“We have never taken this step before in the Colorado River basin, but conditions we see today and the potential risks we see on the horizon demand that we take prompt action,” Trujillo said.
The decision will not have any immediate impacts on the amount of water allocated for the region’s cities. And it won’t affect farms that rely on the Colorado River, which already face mandatory cuts in central Arizona.
But it illustrates the compounding challenges facing Mexico and the seven U.S. states that rely on the Colorado River, which supplies water to about 40 million people and a $5 billion-a-year agricultural sector.
There is less water flowing through the river than is consumed by cities and farms throughout the region. And the water levels in the river’s two primary storage reservoirs – Lake Mead and Lake Powell – have plummeted substantially over the past two decades – to such an extent that boaters found a decades-old dead body in a barrel exposed on Sunday.
The action announced Tuesday is one of several that have been taken to shore up Lake Powell. The Bureau of Reclamation has also ordered releases from other reservoirs upstream from Lake Powell, including 500,000 acre-feet of water from the Flaming Gorge Reservoir on the Utah-Wyoming border announced last month. Releases from Flaming Gorge, as well as Blue Mesa reservoir in Colorado and the Navajo reservoir in New Mexico, were ordered last year.
Shoring up Lake Powell may allow water to continue flowing through the turbines at Glen Canyon Dam and keep its hydropower-generating capacity intact, but that’s only one of several interests that officials are juggling in managing reservoir levels.
The decision injects uncertainty into the boating and recreation industries that rely on consistent reservoir levels to operate infrastructure like docks. And it forces officials to confront that without drastic conservation measures, demand for water in growing regions will likely come up against supply constraints in a hotter, drier future.
The Bureau of Reclamation announcement followed months of talks between upper basin states – Colorado, New Mexico, Utah and Wyoming – and their lower basin counterparts in Arizona, California, Nevada and Mexico, which are already taking mandatory and voluntary cuts.
Federal officials first floated the proposal last month in a letter to the seven states, which responded with a joint letter in support of the move in which they asked the bureau to adjust water accounting and how it reports lake levels when deciding on future cuts.
The request centered on the fact that keeping water stored in Lake Powell will decrease the amount of water flowing downstream to Lake Mead, the Colorado River’s other main storage reservoir.
In response to concerns that less for Lake Mead would require lower basin states to take additional cuts, the bureau agreed to act as if the water had flowed downstream in calculating Lake Mead’s elevation. That compromise alters agreements reached over the past 15 years triggering cuts to water users in the lower basin once Lake Mead falls to certain thresholds.
It means moving forward, U.S. officials will “credit” Lake Mead and act as if the water kept to preserve Lake Powell had been delivered downstream when deciding how to enforce agreements – effectively splintering the lake’s actual levels from the levels used to determine cuts.
“We are going to account for the water as if it had been released. And we will do it in a way so that it will not trigger additional releases from the upper basin or additional layers of shortage in the lower basin,” Trujillo said. | https://www.wyomingnews.com/news/from_the_wire/u-s-to-hold-back-lake-powell-water-to-protect-hydropower/article_a7974b35-8280-5509-9b1d-0fdd22e6a40c.html | 2022-05-03T23:28:37Z |
LARAMIE - As the weather begins to turn to spring, concern in Wyoming and much of the West shifts to mitigating an ongoing drought and potential for wildfires.
“In some locations, fire season is coming early,” said Aaron Voos, spokesperson for the U.S. Forest Service. “(There’s a) window between snowmelt and green-up where the vegetation is still fire-prone after the winter.”
In and around Albany County, this period of fire danger will mostly impact lower elevation areas of the Medicine Bow-Routt National Forest such as Pole Mountain, Laramie Peak, Thunder Basin National Grasslands and the foothills region.
So far this spring there have been about six wildfires in the Albany County area, but all were fewer than 10 acres in size and were put out quickly, said Albany County Fire Warden Chad Dinges.
Recent hazy skies around Laramie are from active wildfires in Arizona and New Mexico. Both states have been experiencing a dry spring and are in moderate to severe drought conditions, said National Weather Service spokesperson Michael Natoli. The air quality in Laramie is still at a normal level as the smoke remains in the upper atmosphere.
Drought is at moderate to severe levels in the southeastern portions of the state, and severe to extreme in the north and northwest.
Spring is usually the wettest season of the year in southeastern Wyoming, with May typically bringing in the most precipitation in the Laramie area, Natoli said.
There has been 0.25 inches of precipitation recorded at the Laramie Regional Airport, down from the normal 0.9 inches for this time of year, the NWS reports. While precipitation hovered between average and above-average levels from January through March, the month of April was dry.
“We’ll have to keep watching over the next few weeks because we’ve been pretty dry over the last few months,” Natoli said. “Hopefully, we’ll get some more rains going into May, but it’s too early to say.”
Preparing for anything
Collaboration across firefighting agencies in the area is crucial to maintaining an effective emergency response system in case wildfires happen, said Laramie Fire Chief Dan Johnson.
“There’s (great) collaboration between agencies, and we have a really healthy relationship with our partners,” Dinges said.
The potential for wildfire danger is still fresh in the minds of locals less than 18 months removed from the devastating Mullen Fire, one of the state’s largest ever, which burned nearly 177,000 acres about 28 miles west of Laramie.
Interagency cooperation even extends beyond the state. Some Albany County firefighters are now working in Nebraska. There aren’t enough firefighters in any given area to respond to large events such as the Mullen Fire, so departments send help where it’s needed in hopes they will receive it in return should the need arise.
One consistent challenge wildland firefighting agencies face is finding enough people to work as firefighters. About 70% of fire services are volunteer based. For professional firefighters, the training process can take years as they wait for availability of training and an opportunity to prove their skills on a real fire, said Albany County Fire District 1 spokesperson Brett Wadsworth.
These factors leave agencies in a continuous state of recruiting. With summer predictions leaning toward a year of average precipitation with above-average temperatures, there is a chance fire activity could be higher than normal.
“The average anymore is much more severe than it was 20 years ago,” Dinges said.
Ahead of this year’s fire season, agencies are working to review local versions of emergency notification systems that saved lives during the recent Marshall Fire in Boulder County, Colorado.
The agencies also encourage residents to follow fire restrictions as they are put in place. The decision to start and end restrictions is based on an analysis of climate conditions and firefighting resources, and is not taken lightly, Dinges siad.
In addition to keeping up with general property maintenance like clearing away old sagebrush, residents with concerns about fire safety at their homes can reach out to local fire department for guidance.
As outdoor adventurers begin to return to areas that could be wet from rainfall or snowmelt, they should be careful not to damage roadways and vegetation, Voos said. It is especially important that people only drive on open roads and avoid getting stuck, which can cause ruts in the road. | https://www.wyomingnews.com/news/local_news/in-wyoming-agencies-prepare-for-unpredictable-fire-season/article_217a0350-6e02-5a4d-aa49-f0684691800d.html | 2022-05-03T23:28:43Z |
CODY – For two decades, Wyoming’s wolf population has been above the minimum population number to be considered a recovered species.
Wyoming Game and Fish recently released its annual report on the population of wolves in and around Yellowstone National Park.
According to the report, at the end of 2021, the gray wolf population in Wyoming remained above minimum recovery criteria, making 2021the 20th consecutive year Wyoming has exceeded the numerical, distributional and temporal recovery criteria established for wolves by the U.S. Fish and Wildlife Service.
At least 314 wolves in more than 40 packs (including more than 23 breeding pairs) inhabited Wyoming statewide on Dec. 31. Of the total, there were more than 161 wolves and more than 24 packs (including more than 14 breeding pairs) in the Wolf Trophy Game Management Area, which includes the Greater Yellowstone Ecosystem outside of the national parks.
There were 97 wolves and more than eight packs (including six-plus breeding pairs) in Yellowstone National Park; more than 17 wolves and more than three packs (including two-plus breeding pairs) in the Wind River Reservation; and more than 39 wolves and at least five packs (including one-plus breeding pair) resided in areas where wolves are designated primarily as predatory animals in Wyoming.
A total of 107 wolf mortalities were documented statewide in Wyoming in 2021: 62 in the WTGMA, 38 in areas where wolves are primarily designated as predatory animals, six in Yellowstone, and one in the Wind River Reservation. Humans caused 84% of wolf deaths, 13% were attributed to natural causes and 3% unknown.
Fifty-six wolves were captured and radio-collared for monitoring and research in 2021.
In 2021, G&F implemented a wolf hunting season with the biological objective to stabilize the wolf population at approximately 160 wolves in the WTGMA.
A mortality limit of 47 wolves was divided between 13 hunt areas in the WTGMA and one hunt area in the Seasonal WTGMA (hunt area 12). Wolf hunting seasons were open Sept. 15-Dec. 31, with the exception of hunt area 12 (opened on Oct. 15) and hunt area 13 (closed March 31). The hunting season for each hunt area closed at the season’s end date or when the mortality limit in the hunt area was met, whichever occurred first.
A total of 30 wolves were killed during the 2021 wolf hunting season. In addition, the 2020 wolf hunting season was extended from Jan. 1-March 31 in hunt area 13, during which two wolves were taken.
Wolves were confirmed to have killed or injured 109 head of livestock (50 cattle, 53 sheep, five livestock-guarding dogs, and one horse) statewide in 2021.
Wolf-livestock conflicts in the WTGMA were the lowest recorded since 2010, while conflicts in the seasonal WTGMA and year-round predatory animal area increased.
Thirty-two wolves were lethally and legally removed by agencies or the public in an effort to reduce livestock losses (17 in the WTGMA, 15 in predatory animal areas in the state).
This story was published on May 2, 2022. | https://www.wyomingnews.com/wyomingbusinessreport/industry_news/agribusiness/game-and-fish-wolves-remain-recovered-species/article_76ea67fc-cb21-11ec-b897-1b82ebbd7a8a.html | 2022-05-03T23:28:49Z |
CHEYENNE – While there are many opportunities to give back to the community at the Cheyenne Day of Giving events this May, organizers said providing the resources for year-round work is just as important.
They ask residents to consider donating not only food and personal-care items at the 17th annual Day of Giving on May 13, as well as the youth event the day before, but financial support. The money goes directly to 10 local nonprofits in order to purchase items during the year, as well as quality-of-life products such as bedbug-proof mattress covers and kitchen tools.
“The next 364 days, Day of Giving is available to those agencies to help them when they need things that are not donated by the public, and are not in the agency budget,” Cheyenne Day of Giving founder and board member Greta Morrow told the Wyoming Tribune Eagle. “So this past year, we spent over $70,000 helping those agencies.”
To ensure the funds go toward helping clients, Morrow said the organization helps create a quarterly budget to disperse for each nonprofit based on size and the number of individuals served. Instead of handing over the money, they purchase the items asked for. She said this doesn’t solve every problem for the agencies, but it does provide a safety net throughout the year.
COMEA House
One of the nonprofits partnered with Cheyenne Day of Giving is the COMEA House and Resource Center, which operates as an emergency shelter for the homeless. Besides offering a safe place to sleep, there are meals, showers, case management, family services, family education programs and overall support.
COMEA Director Robin Bocanegra said the Day of Giving event has been a source of relief in all the years her organization participated. The group receives the bulk of its protein for cooking at the shelter after Cheyenne Frontier Days, and by the time May comes around, it is the perfect opportunity to restock.
She said the bonus is the financial support.
“What we love even more than just the annual giving is their quarterly giving, because that’s used for something that isn’t typically in our budget,” she said.
Examples of past purchases are general paper and cleaning supplies, single-trip bus passes, special bedbug-proof mattresses and a heating cabinet to keep food warm. Bocanegra said the hotbox was a significant addition to the shelter because it helps with proofing bread, keeping meals fresh as residents are taught restaurant skills and helps with managing the catering business services.
Wyoming Coalition for the Homeless
Another shelter with similar daytime services for transient individuals, along with providing bikes for them to get to work or around town, is the Wyoming Coalition for the Homeless. It serves nearly 5,000 individuals a year, and the numbers are rising on a daily basis. This quarter, it helped at least 100 more people in the community than during the same time period last year.
The reason the organization depends on the Cheyenne Day of Giving and the quarterly funding is because it provides at least 90% of their snack and food items, according to Coalition Director Darlyn Tucker.
“Without them, we would not be able to survive,” she said.
Since the coalition uses paper plates, bowls and plastic silverware to serve food, this is another item that runs out quickly. Continued inflation impacts the ability to purchase large quantities, so it requested donations of these items at the Cheyenne Day of Giving event to help stay on budget.
Needs Inc.
Nonperishable food and clothes are the heart of the Needs Inc. food pantry’s services, which provides weekly food distribution throughout Laramie County. During the school year, the nonprofit also gathers school supplies for hundreds of children. The event helps refill its pantry after all of supply shelves are getting bare, especially since the holiday season is when food drives and donations are most popular.
“This time of year is where we really need a reinvigoration from the community,” Needs Executive Director Taylor Albert said, “and the Day of Giving allows that to happen for our pantry.”
The ability to serve individuals in need has also been impacted by the pandemic, meaning Needs Inc. requests more nonperishable items. She said the group is seeing an average of 94 households a day at the food pantry and clothing store, whereas prior to the pandemic it was about 31 households a day.
Magic City Enterprises
At Magic City Enterprises, the services are different from the food pantry or the homeless shelter, but the funding from Cheyenne Day of Giving has just as much of an impact. The nonprofit has provided support to individuals with intellectual and developmental disabilities since 1971.
It gets quality-of-life purchases, such as multi-function cookers for classes, fish tanks for the group home, waterproof mattress pads and Boardmaker units to help nonverbal adults communicate.
“This program [Boardmaker] has symbols or pictures that illustrate what they might want to try to communicate,” Morrow explained. “So let’s just say that they’re going to go to a restaurant and eat, or if they want to tell somebody they’re hungry, they can point to a picture of food.”
The images can also be printed out and put on key rings so they can carry a series of cards with them. This is an easy way for them to share what they’re thinking, or what they need.
“Can you imagine how much that expands the horizons?” the Cheyenne Day of Giving founder said.
These are only a few of the organizations which will benefit from the donations given by the Laramie County community at the youth event on May 12 and the Day of Giving on May 13. Others include the Boys & Girls Club, Family Promise, Unaccompanied Student Initiative and more.
Many of the directors said are they grateful for the work of Cheyenne Day of Giving in putting together the drive-through event, and for residents' support. It was a shared sentiment that many of the services helping people who are struggling would not be possible without participation.
“We just want to make sure everybody understands how much we appreciate their giving and what they do for us,” Bocanegra said. | https://www.wyomingnews.com/wyomingbusinessreport/industry_news/economy_and_labor/day-of-giving-hopes-for-year-round-boost/article_669c4488-cb21-11ec-ace3-a737e1e8da36.html | 2022-05-03T23:28:55Z |
CHEYENNE – This city’s loss of some Union Pacific Railroad historic steam and diesel locomotives and passenger cars will be the gain of the Quad Cities area in the Midwest.
And perhaps eventually, they could even travel again to our area for temporary display.
The railroad company has agreed to donate some well-known, but mostly no longer operational, locomotives and rail cars to the nonprofit Railroading Heritage of Midwest America, representatives at Union Pacific and RRHMA said in interviews Friday. U.P. will hang onto other popular train equipment, namely its so-called “Big Boy” and “Living Legend” steam locomotives.
An advantage to fans of old trains is they can eventually visit the artifacts that U.P. is donating, although they are expected to be housed at RRHMA’s facility in Silvis, Illinois. The organization aims to transform that former 400,000-square-foot train shop complex of a now-defunct railroad into a museum. It is in the Quad Cities area of the Midwest, near Iowa’s border with Illinois and some 800 miles from Cheyenne.
The donation helps U.P. focus on maintaining and showcasing the “Big Boy,” which is perhaps the world’s largest functioning steam locomotive, and “Living Legend,” notable for being an older steam locomotive that was never fully retired from service. It also comes as major railroads across the U.S. are trying to trim costs to remain competitive.
“We’ve been trying to streamline our operations,” noted Mike Jaixen, a spokesperson for U.P. “We realized that we do not need as big of a fleet as we had” of older train equipment, he said. RRHMA “was a group that was able to find a use for them.”
Any speculation that the company, which is known for preserving a bigger fleet of older trains than some other railroads, is not sticking with this tack is unfounded, the company’s representative said.
“There’s been some internet scuttlebutt that this is the end of the U.P. steam program. This is not the case. We are continuing on with Big Boy 4014 and Living Legend 844. We are continuing forward – that is our steam program.”
Older array
Even with the downsizing, the rail carrier has an impressive array of older items, two stakeholders said.
U.P. has “one of the best steam programs in the world,” said Steve Sandberg, RRHMA president. “We’ve been running a big steam locomotive around the Midwest,” the organization’s own Milwaukee Road No. 261 that is based in Minneapolis. The museum’s new goal is to have what U.P. is donating “restored to a standard that is acceptable to Union Pacific,” so that it could travel on the company’s rails.
“They basically wanted to make sure that they could get it out in front of the public and that it would be preserved for future generations,” Sandberg said of U.P. “With them having two steam locomotives, they really did not need to have more.”
It could cost his organization $3 million to $5 million to fully restore all that U.P. is donating, estimated Sandberg. Donations totaling $500,000 will be tripled through matches by the UP in Smoke Foundation, as well as other donations, he noted.
Even before any financial hurdles are overcome, there are potentially complex logistics to get the donated rolling stock from Cheyenne to Silvis, representatives from U.P. and RRHMA acknowledged.
“It will be a huge endeavor, and while we have some ideas how that will happen … now we have to figure out how we make all this logistically happen,” said Jaixen.
One positive is that the train gear will start out on U.P. rails, although other tracks may also be used. The Iowa Interstate Railroad, which took over part of the railroad that used to own the Silvis facility, may play a part in the transfer, some suggested. One Iowa Interstate employee said they were not familiar with the situation, and the railroad itself did not comment.
When the historic equipment does hit the rails, it is likely to prove popular among rail fans, stakeholders said. They recalled big crowds when, a few years ago, Big Boy came to Cheyenne.
“We know that people will want to see this equipment moving,” said Jaixen.
“You’ll see rail fans taking pictures everywhere of the movement,” said Union Pacific Historical Society Business Manager Bob Krieger. Indeed, photos from this newspaper show fans themselves snapping pictures alongside the rails.
Donated items
Krieger, who used to work for U.P., including in its local steam shop, described himself as happy with the donation.
“It’s been sitting idle for a long time, and I don’t think there is much chance of it being restored here. They have their hands full with the two engines they have,” he said. “They’ll keep their heritage fleet, they are just downsizing. A lot of stuff was just sitting around in the roundhouse. This way, they’ll just give access to the public.” (The current equipment is not typically on public display.)
U.P. summarized, and Jaixen provided details on, the donation from Union Pacific’s Steam Shop in Cheyenne:
The Challenger, which also goes by 4664 and 3985: This was perhaps the world’s largest operating steam locomotive, until it was exceeded by Big Boy’s restoration.
U.P. No. 5511: It is about 100 years old, perhaps the “only one of its type left,” Jaixen said by phone. “It has not operated in 60 years.” It was “not designed for speed, it was designed for power” and could do things like push other trains around a train yard.
The Centennial U.P. No 6936: It was the world’s biggest diesel locomotive when it was built in 1969 to mark the 100th anniversary of the of completion of the U.S. Transcontinental Railroad. It has some 6,600 horsepower.
The shell of a passenger locomotive.
Two business cars called the Selma and the Stanford. They are “kind of akin to a suite at a high-end hotel,” Jaixen said. They could be used by railroad employees who were traveling, and they had things like a bed and an office setup.
Four 1950s coach cars.
A diner-lounge car.
A baggage car.
A caboose. | https://www.wyomingnews.com/wyomingbusinessreport/industry_news/transportation/union-pacific-donating-several-locomotives-passenger-cars-to-illinois-museum/article_526b490a-cb21-11ec-98f2-3786dbf3a021.html | 2022-05-03T23:29:01Z |
Bluefield Police respond to shots fired
Published: May. 3, 2022 at 6:38 PM EDT|Updated: 1 hour ago
BLUEFIELD, W.Va. (WVVA) - Police responded to reports of shots fired on Frederick Street on Tuesday evening, according to Bluefield Chief of Police Dennis Dillow.
He said at least two juveniles with “superficial injuries” ran to College Avenue afterward.
Last month, two people suffered non-life threatening injuries after a separate shooting on Frederick Street.
Copyright 2022 WVVA. All rights reserved. | https://www.wvva.com/2022/05/03/bluefield-police-respond-shots-fired/ | 2022-05-03T23:44:53Z |
Prosecutors charge 3 with murder in Sacramento mass shooting
SACRAMENTO, Calif. (AP) — Prosecutors have filed murder charges in a mass shooting that rocked California’s capital city a month ago.
District Attorney Anne Marie Schubert said Tuesday that three men have been charged with murder in the slayings.
All three are eligible for the death penalty, but that decision has not been made yet.
The gang feud erupted in gunfire before dawn April 3 as patrons of bars and nightclubs emptied out onto the streets in downtown Sacramento. Six people were killed in the bloodshed, including one man who was an alleged shooter.
A dozen others were wounded by bullets — including two other alleged gunmen. Police say at least five people fired bullets in the shooting.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/05/03/prosecutors-charge-3-with-murder-sacramento-mass-shooting/ | 2022-05-03T23:45:01Z |
Prosecutors seek death penalty for Lori Vallow Daybell, mom charged in kids’ deaths
FREMONT COUNTY, Idaho (Gray News) - Idaho prosecutors in the case against Lori Vallow Daybell are seeking the death penalty.
Prosecuting attorneys filed a motion that they’ll seek the death penalty against Lori Daybell as a sentencing option if she is convicted of any of the counts of first-degree murder and/or any of the counts of conspiracy to commit first-degree murder as charged in the indictment.
Lori Daybell is charged with conspiring to kill her children, her estranged husband and a lover’s wife, as reported by the Associated Press.
She refused to enter a plea to murder and other charges last month which prompted an Idaho judge to enter a not guilty plea on her behalf.
Lori Daybell and her new husband, Chad Daybell, face numerous charges in the bizarre case. Lori Daybell’s children were 7-year-old Joshua “JJ” Vallow and 16-year-old Tylee Ryan.
The AP reports investigators said Chad and Lori Daybell began espousing an unusual, doomsday-focused system of religious belief involving “zombies,” teleportation and communication with other spiritual realms starting in 2018 when both were still married to other people. The Idaho prosecutors say they used their religious beliefs to justify or encourage the murders.
Larry Woodcock, “JJ” Vallow’s grandparent, said during a previous news conference that he was happy that the case is moving forward, saying Lori Daybell’s “day will come.”
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/05/03/prosecutors-seek-death-penalty-lori-vallow-daybell-mom-charged-kids-deaths/ | 2022-05-03T23:45:08Z |
Thunderstorms will be possible overnight and into early Wed AM
A cold front will slide in tonight
A frontal system heading in our direction overnight will bring unsettled weather. We could see a few showers/thunderstorms through sundown (mainly east of I-77), but most will stay dry.
Overnight, especially around midnight and after, we’ll see rounds of showers and thunderstorms develop as a cold front moves into the area. Since this front is moving through overnight, severe weather doesn’t look likely...but localized heavy rain, gusty winds, and lots of thunder and lightning will still be possible in sub-severe cells. Lows tonight will remain mild, in the upper 50s and low 60s overnight.
Wednesday will start with early morning rain, but we’ll see more sun break out during the afternoon and evening. Highs will be a bit cooler than we’ve been to start the workweek, but still seasonable, in the upper 60s and low 70s.
Thursday will bring warmer, sunny weather with highs back in the 70s and 80s.
Another frontal system will bring a renewed chance of rain Friday and into Saturday to begin the weekend. We’ll cool down a bit by then as well...stay tuned!
BLUEFIELD, W.Va. (WVVA) -
Copyright 2022 WVVA. All rights reserved. | https://www.wvva.com/2022/05/03/thunderstorms-will-be-possible-overnight-into-early-wed-am/ | 2022-05-03T23:45:14Z |
White supremacist gang members convicted of murder, kidnapping, Justice Dept. reports
WASHINGTON (Gray News) - Five members and associates of a violent white supremacist gang, the 1488s, were convicted on Monday in Alaska.
The Department of Justice reports a federal jury convicted the group of conspiracy, murder in aid of racketeering, kidnapping and assault.
Authorities said the trial presented evidence that the 1488s were a violent prison-based gang operating inside and outside of state prisons throughout Alaska.
The Justice Department said the 1488s used Nazi-derived symbols to identify themselves and their affiliation with the gang, including a 1488 “patch” tattoo that depicts an Iron Cross superimposed over a swastika. The tattoo can only be worn by “made” members who generally gained full membership by committing acts of violence on behalf of the gang.
According to the DOJ, the gang has written rules and a code of conduct, including the creed that “the only currency we recognize is violence and unquestionable loyalty.”
Authorities said evidence showed that Filthy Fuhrer, 45, formerly known as Timothy Lobdell, founded and led the 1488 gang from inside Alaska’s maximum-security prison. He was serving a 19-year sentence for the attempted murder of an Alaska State Trooper. Fuhrer ordered gang members to commit violent kidnappings and assaults in the “free world” outside of prison.
The DOJ reports Fuhrer believed that some members were defying the 1488 code of conduct and diminishing the power and influence of the gang. Fuhrer sent out a trusted lieutenant with a list of directives; these directives culminated in the kidnapping and assault of two low-level gang members in April 2017 and July 2017 and the kidnapping, assault and murder of Michael Staton in August 2017.
Trial evidence showed 1488 members Roy Naughton, 43, Glen Baldwin, 40, and Colter O’Dell, 29, worked with Craig King, 56, who was a member of the Hells Angels Motorcycle Club, to kidnap and murder one of the victims, who had previously stolen from the group.
Authorities said King lined a room with plastic, where he and the 1488 defendants beat and tortured the victim. Baldwin and O’Dell then took the victim out to the woods, shot him, and burned his body. O’Dell earned his membership patch into the 1488s by murdering Staton.
“Violent gangs, especially those based upon racial hatred, are a plague to our society. As this case demonstrates, the crimes of organized prison gangs often go beyond the prison walls bringing violence into our communities,” said U.S. Attorney S. Lane Tucker for the District of Alaska.
The Justice Department reports Fuhrer was convicted of racketeering conspiracy, conspiracy in aid of racketeering, murder in aid of racketeering, kidnapping resulting in death, three counts of kidnapping conspiracy, two counts of kidnapping and two counts of assault in aid of racketeering.
Authorities said Naughton was convicted of racketeering conspiracy, conspiracy in aid of racketeering, murder in aid of racketeering, kidnapping resulting in death, three counts of kidnapping conspiracy, two counts of kidnapping and two counts of assault in aid of racketeering.
Baldwin, O’Dell, and King were convicted of racketeering conspiracy, conspiracy in aid of racketeering, murder in aid of racketeering, kidnapping resulting in death, and kidnapping conspiracy, according to the DOJ.
“The guilty verdicts today strike a significant blow to the highest levels of the 1488 gang,” said Assistant Attorney General Kenneth A. Polite, Jr., of the Justice Department’s Criminal Division. “The Department of Justice and our law enforcement partners remain committed to combating and dismantling violent white supremacist gangs.”
Authorities said all five defendants face a mandatory life sentence in prison without parole.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/05/03/white-supremacist-gang-members-convicted-murder-kidnapping-justice-dept-reports/ | 2022-05-03T23:45:21Z |
‘You’re more beautiful in person’: Woman meets her birth mother for the first time in over 50 years
MONROVIA, Calif. (KCAL/KCBS) – A Colorado mother had a tearful reunion with her own mother, someone she has never met.
Sarah Kleinhans was put up for adoption in South Korea when she was just 14 months old.
Her mother now lives in California, and with the help of some DNA analysis, Kelinhans was able to track her down.
Kleinhans was waiting with excitement to meet her half sister, Linda, and birth mom, who they call Oma.
She anxiously awaited the two at a friend’s house in Monrovia, California, after flying into the state from Colorado with her two kids for this reunion that’s been decades in the making.
When she was given up for adoption, Kleinhans was adopted by a family in New Hampshire along with her half brother.
They each had a locket with their mother’s picture and their baby picture in it.
She had been wanting to reconnect with her birth mom for her whole life.
“Every year on my birthday, I think of you,” Kleinhans said. “Every single year and I look out and I go, ‘Are you alive? Are you wondering, are you thinking about me?’”
They just spoke on the phone two weeks before the big moment.
There were hugs and tears when the two embraced for the first time after 53 years apart.
“I’m so happy,” Kleinhans said to her mother. “I’m so grateful to you. I’m here. You’re more beautiful in person.”
She showed her mother the locket she had kept all of those years.
“Look what I have,” Kleinhans said. “I found you.”
Linda, Kleinhans half sister, had been looking for her for 15 years. Kleinhans did not even know Linda existed.
Kleinhans used the genetic testing company 23andMe to begin her family search.
Linda finally found Kleinhans through Facebook and sent her a message.
Kleinhans also found what she believes is a picture of her biological father, who died in 2015. He was a sergeant in Seoul when he met Kleinhans’s mother
Kleinhans had toured as a dancer and model, and now is a single mom. Her son, Addison, survived leukemia as a young boy.
While Kleinmans said she can’t imagine ever leaving her children, she admires what her own mother had to do.
“How selfless do you have to be to know that your child is going to have a better life,” she said. “And so, as a mixed baby, it’s a kind of hard time and it was the late 60s.”
Now, the two are faced with the delicate and slow process of getting to know each other and enjoying the little moments together, like talking about their favorite dish, kimchi.
Kleinshans and her family are in California until Thursday, where they will be catching up on all of the time they missed out on. She said they plan to have her birth mother visit them in Colorado.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/05/03/youre-more-beautiful-person-woman-meets-her-birth-mother-first-time-over-50-years/ | 2022-05-03T23:45:27Z |
Court won’t pause Trump’s $10K-a-day fine while he appeals
NEW YORK (AP) — A New York appellate court judge on Tuesday rejected Donald Trump’s bid to halt his $10,000-a-day fine, keeping the former president’s meter running for now as he fights a lower-court decision penalizing him for failing to turn over documents in a state civil investigation.
Judge Tanya Kennedy, of the appellate division of the state’s trial court, denied Trump’s interim application to pause the fine pending his appeal. The court’s full bench will weigh in on Trump’s motion to stay the fine later this month, Kennedy said.
Trump’s attorney Alina Habba requested the stay Monday, a week after Manhattan Judge Arthur Engoron fined Trump for failing to comply with a subpoena issued in New York Attorney General Letitia James’ probe of his business dealings.
Habba wrote in a court filing that Engoron’s ruling was “unconscionable and indefensible.” The judge found that Trump, who is appealing the ruling, and his lawyers had failed to show they conducted a proper search for subpoenaed records.
In asking the appellate court to pause his fine, Trump sought to stop it from accruing while he seeks to overturn Engoron’s ruling — potentially saving him hundreds of thousands of dollars if the appellate court ultimately upholds the contempt finding.
Trump is also appealing Engoron’s Feb. 17 ruling requiring him to answer questions under oath. Oral arguments in that appeal are scheduled for May 11. No arguments have been scheduled in Trump’s contempt challenge.
In a written statement Tuesday, Trump, a Republican, lashed out at James and the state’s court system. He called the attorney general, who is a Black Democrat, “racist,” said the courts were “biased, unyielding, and totally unfair” and claimed to have turned over “millions of pages of documents, perhaps more than any person or entity has ever given before.”
“This is a continuation of the greatest Witch Hunt in history, and it should not be allowed to continue,” Trump said. “The good news is, I have done nothing wrong!”
A message seeking comment was left with Habba.
James, a Democrat, asked Engoron to hold Trump in contempt after he failed to produce any documents to satisfy a March 31 deadline to meet the terms of the subpoena. She has said her investigation has found evidence that Trump may have misstated the value of assets like skyscrapers and golf courses on financial statements for over a decade.
Habba told Engoron that she met with Trump to ensure he had no records and there were none to be found. On Friday, she submitted additional documents explaining the document search, including an affidavit in which Trump claimed he has no documents. Engoron criticized the affidavit as lacking in detail.
In seeking to halt the fine, Habba said Trump and his representatives had performed a “diligent, thorough and comprehensive search” for everything sought in the subpoena and provided complete and accurate responses to the attorney general. She said the additional submissions last week amounted to “extraordinary efforts to comply.”
“Given these circumstances, it is unconscionable and indefensible for Appellant to be held in contempt in any manner, much less at the inordinate expense of $10,000 per day,” she said.
___
Associated Press reporter Larry Neumeister contributed to this report.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/05/03/court-wont-pause-trumps-10k-a-day-fine-while-he-appeals/ | 2022-05-04T00:20:53Z |
Getting a Devils Backbone tattoo could get you free beer for a year
NELSON COUNTY, Va. (WVIR) - If you’re looking for some inspiration for a tattoo, check out Devils Backbone Brewing Company. If you get one of their designs, you could end up with some free beer.
The Nelson County company is offering a year’s worth of beer to the first 100 people that get one of its three designs tattooed.
“We know some folks love DB, they love tattoos, they love IPAs. That seems like the perfect storm,” DB Brand Manager Rebecca Holland said.
Devils Backbone is celebrating the launch of its new brews by partnering up with tattoo artist Jake Karamol.
You can get one of Karamol’s designs done anywhere on your body by any tattooist, but you must submit a photo of it online.
“If they get the tattoo and tag us on Instagram and use the #BuckTraditionTattooChallenge,’ then they will win a free year’s worth of beer,” Holland said.
The promotion run through June 30, but the race is on to be one of the first 100.
“Some people got busy over the weekend, and we have already gotten a few tattoos submitted,” Holland said. “People are really passionate about the beer that they like, and so we just wanted to really get in touch with those folks and give them something that would pay off. If they love us, then we want to show them some love too.”
Click here for the full rules.
Copyright 2022 WVIR. All rights reserved.
Do you have a story idea? Send us your news tip here. | https://www.whsv.com/2022/05/03/getting-devils-backbone-tattoo-could-get-you-free-beer-year/ | 2022-05-04T00:20:59Z |
Prosecutors charge 3 with murder in Sacramento mass shooting
SACRAMENTO, Calif. (AP) — Prosecutors have filed murder charges in a mass shooting that rocked California’s capital city a month ago.
District Attorney Anne Marie Schubert said Tuesday that three men have been charged with murder in the slayings.
All three are eligible for the death penalty, but that decision has not been made yet.
The gang feud erupted in gunfire before dawn April 3 as patrons of bars and nightclubs emptied out onto the streets in downtown Sacramento. Six people were killed in the bloodshed, including one man who was an alleged shooter.
A dozen others were wounded by bullets — including two other alleged gunmen. Police say at least five people fired bullets in the shooting.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/05/03/prosecutors-charge-3-with-murder-sacramento-mass-shooting/ | 2022-05-04T00:21:05Z |
Rockingham County planning commission to consider solar ordinance tweak
HARRISONBURG, Va. (WHSV) - The Rockingham County planning commission is set to meet Tuesday night. One item on the agenda is an amendment to the county’s solar ordinance.
The amendment would allow any applications for large ground-mounted solar facilities submitted prior to the county’s November 17th solar ordinance rewrite to be reviewed based on the requirements of the old ordinance.
“They may need to mirror as much as possible the conditions in the new ordinance but they wouldn’t have to strictly adhere to it,” said Rhonda Cooper, the Rockingham County Director of Community Development.
The change would only affect a few proposed projects like the solar project near East Rockingham High School.
The revised ordinance that was approved by the Board of Supervisors on November 17th set guidelines for the size, landscaping, and decommissioning of solar facilities in the county.
“The board did two things related to size. One was to establish an aggregate cap for all of the solar facilities across the county not to exceed 1,800 acres. However, many that might be, no more than 1,800 acres of solar facilities could be located anywhere in the county,” said Cooper.
The county also has a cap of 50-acres per site for large-scale solar facilities but there is an exception.
“They (the Board of Supervisors) said that we would look at up to 150-acre sites, but that can’t exceed 450 acres of the aggregate cap of 1,500 acres,” said Cooper.
Cooper said while there was a lot of public feedback on the rewrite of the solar ordinance in November, there has been no public input so far about the ordinance amendment being considered on Tuesday.
Cooper added that there have been very few applications for solar facilities this year after there were a fair amount of them last year.
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/05/03/rockingham-county-planning-commission-consider-solar-ordinance-tweak/ | 2022-05-04T00:21:11Z |
White supremacist gang members convicted of murder, kidnapping, Justice Dept. reports
WASHINGTON (Gray News) - Five members and associates of a violent white supremacist gang, the 1488s, were convicted on Monday in Alaska.
The Department of Justice reports a federal jury convicted the group of conspiracy, murder in aid of racketeering, kidnapping and assault.
Authorities said the trial presented evidence that the 1488s were a violent prison-based gang operating inside and outside of state prisons throughout Alaska.
The Justice Department said the 1488s used Nazi-derived symbols to identify themselves and their affiliation with the gang, including a 1488 “patch” tattoo that depicts an Iron Cross superimposed over a swastika. The tattoo can only be worn by “made” members who generally gained full membership by committing acts of violence on behalf of the gang.
According to the DOJ, the gang has written rules and a code of conduct, including the creed that “the only currency we recognize is violence and unquestionable loyalty.”
Authorities said evidence showed that Filthy Fuhrer, 45, formerly known as Timothy Lobdell, founded and led the 1488 gang from inside Alaska’s maximum-security prison. He was serving a 19-year sentence for the attempted murder of an Alaska State Trooper. Fuhrer ordered gang members to commit violent kidnappings and assaults in the “free world” outside of prison.
The DOJ reports Fuhrer believed that some members were defying the 1488 code of conduct and diminishing the power and influence of the gang. Fuhrer sent out a trusted lieutenant with a list of directives; these directives culminated in the kidnapping and assault of two low-level gang members in April 2017 and July 2017 and the kidnapping, assault and murder of Michael Staton in August 2017.
Trial evidence showed 1488 members Roy Naughton, 43, Glen Baldwin, 40, and Colter O’Dell, 29, worked with Craig King, 56, who was a member of the Hells Angels Motorcycle Club, to kidnap and murder one of the victims, who had previously stolen from the group.
Authorities said King lined a room with plastic, where he and the 1488 defendants beat and tortured the victim. Baldwin and O’Dell then took the victim out to the woods, shot him, and burned his body. O’Dell earned his membership patch into the 1488s by murdering Staton.
“Violent gangs, especially those based upon racial hatred, are a plague to our society. As this case demonstrates, the crimes of organized prison gangs often go beyond the prison walls bringing violence into our communities,” said U.S. Attorney S. Lane Tucker for the District of Alaska.
The Justice Department reports Fuhrer was convicted of racketeering conspiracy, conspiracy in aid of racketeering, murder in aid of racketeering, kidnapping resulting in death, three counts of kidnapping conspiracy, two counts of kidnapping and two counts of assault in aid of racketeering.
Authorities said Naughton was convicted of racketeering conspiracy, conspiracy in aid of racketeering, murder in aid of racketeering, kidnapping resulting in death, three counts of kidnapping conspiracy, two counts of kidnapping and two counts of assault in aid of racketeering.
Baldwin, O’Dell, and King were convicted of racketeering conspiracy, conspiracy in aid of racketeering, murder in aid of racketeering, kidnapping resulting in death, and kidnapping conspiracy, according to the DOJ.
“The guilty verdicts today strike a significant blow to the highest levels of the 1488 gang,” said Assistant Attorney General Kenneth A. Polite, Jr., of the Justice Department’s Criminal Division. “The Department of Justice and our law enforcement partners remain committed to combating and dismantling violent white supremacist gangs.”
Authorities said all five defendants face a mandatory life sentence in prison without parole.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/05/03/white-supremacist-gang-members-convicted-murder-kidnapping-justice-dept-reports/ | 2022-05-04T00:21:17Z |
‘You’re more beautiful in person’: Woman meets her birth mother for the first time in over 50 years
MONROVIA, Calif. (KCAL/KCBS) – A Colorado mother had a tearful reunion with her own mother, someone she has never met.
Sarah Kleinhans was put up for adoption in South Korea when she was just 14 months old.
Her mother now lives in California, and with the help of some DNA analysis, Kelinhans was able to track her down.
Kleinhans was waiting with excitement to meet her half sister, Linda, and birth mom, who they call Oma.
She anxiously awaited the two at a friend’s house in Monrovia, California, after flying into the state from Colorado with her two kids for this reunion that’s been decades in the making.
When she was given up for adoption, Kleinhans was adopted by a family in New Hampshire along with her half brother.
They each had a locket with their mother’s picture and their baby picture in it.
She had been wanting to reconnect with her birth mom for her whole life.
“Every year on my birthday, I think of you,” Kleinhans said. “Every single year and I look out and I go, ‘Are you alive? Are you wondering, are you thinking about me?’”
They just spoke on the phone two weeks before the big moment.
There were hugs and tears when the two embraced for the first time after 53 years apart.
“I’m so happy,” Kleinhans said to her mother. “I’m so grateful to you. I’m here. You’re more beautiful in person.”
She showed her mother the locket she had kept all of those years.
“Look what I have,” Kleinhans said. “I found you.”
Linda, Kleinhans half sister, had been looking for her for 15 years. Kleinhans did not even know Linda existed.
Kleinhans used the genetic testing company 23andMe to begin her family search.
Linda finally found Kleinhans through Facebook and sent her a message.
Kleinhans also found what she believes is a picture of her biological father, who died in 2015. He was a sergeant in Seoul when he met Kleinhans’s mother
Kleinhans had toured as a dancer and model, and now is a single mom. Her son, Addison, survived leukemia as a young boy.
While Kleinmans said she can’t imagine ever leaving her children, she admires what her own mother had to do.
“How selfless do you have to be to know that your child is going to have a better life,” she said. “And so, as a mixed baby, it’s a kind of hard time and it was the late 60s.”
Now, the two are faced with the delicate and slow process of getting to know each other and enjoying the little moments together, like talking about their favorite dish, kimchi.
Kleinshans and her family are in California until Thursday, where they will be catching up on all of the time they missed out on. She said they plan to have her birth mother visit them in Colorado.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/05/03/youre-more-beautiful-person-woman-meets-her-birth-mother-first-time-over-50-years/ | 2022-05-04T00:21:23Z |
MAUMEE, Ohio, May 3, 2022 /PRNewswire/ -- Aktion Associates, Inc., national software reseller and IT infrastructure provider focused on the Architectural Engineering & Construction, Distribution and Manufacturing industries, announced today the appointment of Christina Birmingham to the position of Sales Manager, Multi-Industry (MI) Division. The appointment was made to support Aktion's strategic focus on securing new customer acquisitions in the manufacturing, wholesale distribution, and project-based industries.
Christina comes to Aktion with extensive experience as a proven and successful sales leader specializing in transforming businesses through next generation technology solutions. Christina will report to MI Division Vice President Bob Black.
"Christina joining our MI division as its sales leader is truly a game-changer for Aktion," said Aktion CEO Scott Irwin. "Her skillset aligns perfectly with what we want to accomplish in growing our Acumatica customer base in multi-industry, micro-vertical focused markets. This will be Christina's main focus – developing and implementing sales strategies that result in growing the overall net new customer footprints for Aktion," he added.
Christina will lead a team of sales representatives in delivering Acumatica ERP software solutions to Aktion's target industries. She has overall accountability for sales revenue and is responsible for managing forecast and pipeline, as well as providing sales team leadership and guidance.
"Christina's knowledge of Acumatica combined with her exceptional sales skills will take our sales execution to the next level, especially in new customer acquisition," said Aktion MI Division Vice President Bob Black. "She is a great addition to the team."
ADD ONE - Aktion Associates, Inc., Names New Acumatica Sales Manager
Prior to joining Aktion, Christina served as Major Partner Channel Manager at Acumatica for nearly four years, and Enterprise Sales and Client Development Manager at Viewpoint for 14 years. Before her career in technology, Christina founded and owned MEC Construction in Texas.
Christina attended Liberty University where she studied Business Administration with a focus in Business Leadership.
About Aktion Associates
Aktion Associates is a national ERP software reseller and IT infrastructure provider focused on the Architectural Engineering & Construction, Distribution and Manufacturing industries. Since 1979, more than 5,500 customers have chosen Aktion as their technology advisor. With a workforce of 200 professionals in application consulting, network and software engineering, these teams utilize proprietary lean implementation processes to help customers realize the value of their IT investment. Company-owned data centers provide secure cloud hosting, disaster recovery and back up services, and the Network Operations Center (NOC) monitors managed services clients. Aktion is an IT infrastructure provider for IBM, HP, Lenovo, Cisco, VMware and Microsoft technologies. Other deliverables include network engineering, software engineering, and on-premise IT support. Visit www.aktion.com.
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SOURCE Aktion Associates, Inc. | https://www.whsv.com/prnewswire/2022/05/03/aktion-associates-inc-hires-manager-lead-multi-industry-division-sales/ | 2022-05-04T00:21:29Z |
- Advances the vision of being the most nimble and innovative ag supply chain company in North America
- Aligns the company's portfolio around its core verticals of grain and fertilizer
- Enables further debt reduction, increases financial flexibility for investment in future strategic growth opportunities
MAUMEE, Ohio, May 3, 2022 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) announces it has signed an agreement to sell its railcar repair business. The purchase is expected to close this summer.
"As announced in August of last year, we made a strategic decision to exit our rail segment to allow us to focus on and invest in our core agricultural verticals of grain and fertilizer. This sale also further strengthens our balance sheet and should enhance shareholder returns," said Pat Bowe, President and CEO of The Andersons. "Finalizing the sale of our railcar repair business will complete our exit from our rail segment."
"The Andersons railcar repair network aligns perfectly with Cathcart Rail's strategic goal of offering a broad array of rail services across a national footprint," said Casey Cathcart, Chairman and CEO of Cathcart Rail. "With the addition of The Andersons railcar repair network, Cathcart Rail's nearly 1,000 employees across 100+ locations make it the leading railcar services company in the country."
"Our railcar repair employees are among the most skilled and experienced in the railcar industry, and they have been critical to our success," commented Joe McNeely, President, The Andersons Nutrient and Industrial business. "We deeply value their contributions and thank them for their commitment to The Andersons and we are determined to make their transition to Cathcart Rail as smooth as possible."
About The Andersons, Inc.
Founded in 1947 in Maumee, Ohio, The Andersons, Inc. is a diversified company rooted in agriculture that conducts business in the commodity merchandising, renewables, and plant nutrient sectors. Guided by its Statement of Principles, The Andersons is committed to providing extraordinary service to its customers, helping its employees improve, supporting its communities, and increasing the value of the company. For more information, please visit www.andersonsinc.com.
About Cathcart Rail
Cathcart Rail is a private freight rail company focused on the acquisition, operation, and growth of rail services and transportation businesses. The company currently operates across three divisions, repair facilities, field services, and rail services. Cathcart Rail was founded in 2015 by the father and son team of Thomas Cathcart and Casey Cathcart and currently employs nearly 800 people across 70+ locations in 23 states. For more information about Cathcart, visit www.cathcart-rail.com.
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SOURCE The Andersons, Inc. | https://www.whsv.com/prnewswire/2022/05/03/andersons-inc-enters-into-agreement-sell-its-railcar-repair-business-cathcart-rail/ | 2022-05-04T00:21:36Z |
VANCOUVER, BC, May 3, 2022 /PRNewswire/ - B2Gold Corp. (TSX: BTO) (NYSE: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce its operational and financial results for the first quarter of 2022. The Company previously released its gold production and gold revenue results for the first quarter of 2022. All dollar figures are in United States dollars unless otherwise indicated.
2022 First Quarter Highlights
- Total gold production of 209,365 ounces (including 12,892 ounces of attributable production from Calibre Mining Corp. ("Calibre")), 5% (9,760 ounces) above budget, and consolidated gold production of 196,473 ounces from the Company's three operating mines, 4% (8,431 ounces) above budget, with solid performances from all the Company's three mines, with each mine exceeding its budgeted production for the first quarter of 2022
- Consolidated gold revenue was $366 million on sales of 195,100 ounces at an average realized price of $1,874 per ounce
- Total consolidated cash operating costs (see "Non-IFRS Measures") of $699 per ounce produced, well-below budget by $94 per ounce produced (12%), and total consolidated all-in sustaining costs ("AISC") (see "Non-IFRS Measures") of $1,036 per ounce sold, significantly below budget by $318 per ounce sold (23%) (including estimated attributable results for Calibre)
- Cash flow provided by operating activities before changes in non-cash working capital was $152 million ($0.14 per share) compared to $171 million ($0.16 per share) in the first quarter of 2021; cash flow provided by operating activities after changes in non-cash working capital was $107 million ($0.10 per share) compared to $146 million ($0.14 per share) in the first quarter of 2021
- Net income attributable to the shareholders of the Company of $81 million ($0.08 per share); adjusted net income (see "Non-IFRS Measures") attributable to the shareholders of the Company of $65 million ($0.06 per share)
- For 2022, B2Gold remains well positioned for continued strong operational and financial performance with total gold production guidance of between 990,000 - 1,050,000 ounces (including 40,000 - 50,000 attributable ounces projected from Calibre) with total consolidated cash operating costs forecast to be between $620 - $660 per ounce and total consolidated AISC forecast to be between $1,010 - $1,050 per ounce
- The Company announced an updated and significantly increased Mineral Resource estimate for the Anaconda area, comprised of the Menankoto permit and the Bantako North permit, located approximately 20 kilometres from the Fekola Mine; preliminary planning has demonstrated that a pit situated on the Anaconda area could provide saprolite (weathered) material to be trucked to and fed into the Fekola mill commencing as early as late 2022, subject to obtaining all necessary permits and completion of a final mine plan, with the potential to add an average of approximately 80,000 to 100,000 ounces per year to the Fekola mill's annual gold production
- In April 2022, the Company acquired the Bakolobi permit in Mali from a local Malian company; covers a 100 km2 area contiguous to both the Medinandi permit (Fekola Mine) and the Menankoto permit
- B2Gold's Namibian subsidiary was recognized by the Namibian Revenue Agency as the highest revenue contributor among "Overall Top Contributors" in calendar year 2021
2022 First Quarter Operational Results
Total gold production in the first quarter of 2022 was 209,365 ounces (including 12,892 ounces of attributable production from Calibre), above budget by 5% (9,760 ounces), and consolidated gold production from the Company's three operating mines was 196,473 ounces, above budget by 4% (8,431 ounces), with solid performances from the Company's three mines, with each mine exceeding its budgeted production for the first quarter of 2022 (see "Operations" section below). Due to the timing of higher-grade ore mining, consolidated gold production from the Company's three operating mines is expected to be significantly weighted to the second half of 2022. As expected, compared to the first quarter of 2021, total consolidated gold production was lower by 5% (11,279 ounces), due to the planned significant waste stripping campaign and lower mined ore tonnage at the Fekola Mine in the first quarter of 2022, as Phase 6 of the Fekola Pit continues to be developed in the first half of 2022.
For the first quarter of 2022, total consolidated cash operating costs (including estimated attributable results for Calibre) were $699 per ounce produced ($656 per ounce sold), well-below budget by $94 per ounce produced (12%), and consolidated cash operating costs from the Company's three operating mines were $676 per ounce produced ($630 per ounce sold), well-below budget by $103 per ounce produced (13%). These favourable budget variances were attributable to higher than budgeted gold production, lower than budgeted stripping costs and lower than budgeted realized fuel prices at the Fekola Mine, which were partially offset by higher than budgeted fuel prices at the Masbate and Otjikoto mines. As expected, total consolidated cash operating costs were higher in the first quarter of 2022 compared to $609 per ounce produced ($582 per ounce sold) in the first quarter of 2021, and consolidated cash operating costs were higher in the first quarter of 2022 compared to $581 per ounce produced ($552 per ounce sold) in the first quarter of 2021, mainly as a result of the planned lower gold production and higher costs for fuel and other consumables.
For the first quarter of 2022, total consolidated AISC (including estimated attributable results for Calibre) were $1,036 per ounce sold (Q1 2021 - $932 per ounce sold), significantly below budget by $318 per ounce sold (23%), and consolidated AISC from the Company's three operating mines were $1,028 per ounce sold (Q1 2021 - $919 per ounce sold), significantly below budget by $339 per ounce (25%). These favourable budget variances were attributable to lower than budgeted cash operating costs, higher than budgeted gold ounces sold and lower than budgeted sustaining capital expenditures ($33 million), which is expected to be incurred later in 2022.
For full-year 2022, the Company's total gold production is forecast to be between 990,000 and 1,050,000 ounces (including 40,000 and 50,000 attributable ounces projected from Calibre), with total consolidated cash operating costs forecast to be between $620 and $660 per ounce and total consolidated AISC forecast to be between $1,010 and $1,050 per ounce. Notwithstanding the ongoing sanctions on Mali announced by the Economic Community of West African States ("ECOWAS") on January 9, 2022, including closure of a number of the borders with Mali, the Fekola Mine continues to operate at full capacity and the Company expects to meet its 2022 production guidance for the Fekola Mine. Due to the timing of high-grade ore mining, consolidated gold production from the Company's three operating mines is expected to be significantly weighted to the second half of 2022; for the first half of 2022, consolidated gold production is forecast to be between 390,000 and 410,000 ounces, which is expected to increase significantly to between 560,000 and 590,000 ounces during the second half of 2022. Based mainly on the weighting of production and timing of stripping, consolidated guidance ranges for cash operating costs are expected to be between $760 and $800 per ounce in the first half of 2022, before significantly improving to between $490 and $530 per ounce during the second half of 2022. In addition, consolidated guidance ranges for AISC are expected to be between $1,250 and $1,290 per ounce in the first half of 2022 before significantly improving to between $820 and $860 per ounce during the second half of 2022.
As previously disclosed, the Company's operations continue to be impacted by global cost inflation. However, despite these ongoing cost pressures, the draw downs of existing inventories, proactive management and the revised sequencing of some capital costs means that consolidated cash operating costs and AISC in the first quarter of 2022 were lower than budget. The Company will continue to closely monitor the levels of cost inflation over the remainder of 2022. B2Gold's projects and operations continue to target long-term cash flow and value at industry leading costs per ounce of gold produced.
2022 First Quarter Financial Results
For the first quarter of 2022, consolidated gold revenue was $366 million on sales of 195,100 ounces at an average realized gold price of $1,874 per ounce, compared to $362 million on sales of 202,330 ounces at an average realized gold price of $1,791 per ounce in the first quarter of 2021. The slight increase in gold revenue of 1% ($4 million) was 5% attributable to the increase in the average realized gold price, offset by a 4% impact from the decrease in gold ounces sold (mainly due to the lower gold production).
For the first quarter of 2022, cash flow provided by operating activities before changes in non-cash working capital was $152 million ($0.14 per share) compared to $171 million ($0.16 per share) in the first quarter of 2021; cash flow provided by operating activities after changes in non-cash working capital was $107 million ($0.10 per share) compared to $146 million ($0.14 per share) in the first quarter of 2021. Cash flow provided by operating activities after changes in non-cash working capital decreased by $39 million compared to the first quarter of 2021, mainly due to higher production costs of $11 million and higher non-cash working capital outflows in the first quarter of 2022, most significantly for current income taxes and the timing of value-added tax receivables ("VAT"). Cash income tax payments in the first quarter of 2022 totaled $59 million (Q1 2021 - $21 million), including approximately $15 million related to 2021 outstanding tax liability obligations.
Based on current assumptions, the Company expects to generate consolidated cashflows from operating activities of approximately $625 million for full-year 2022, expected to be significantly weighted to the second half of 2022. The benefit of higher gold prices realized in the first quarter of 2022 is expected to be offset by the impacts of cost inflation and delays in the recovery of VAT receivables. In addition, based on current assumptions, the Company is forecasting to make total cash income and withholding tax payments (including priority dividend payments) for full-year 2022 of approximately $290 million.
Net income for the first quarter of 2022 was $91 million compared to $99 million for the first quarter of 2021. Net income attributable to the shareholders of the Company was $81 million ($0.08 per share) compared to $92 million ($0.09 per share) for the first quarter of 2021. Adjusted net income attributable to the shareholders of the Company (see "Non-IFRS Measures") was $65 million ($0.06 per share) compared to adjusted net income of $97 million ($0.09 per share) for the first quarter of 2021.
Liquidity and Capital Resources
B2Gold continues to maintain a strong financial position and liquidity. At March 31, 2022, the Company had cash and cash equivalents of $649 million (December 31, 2021 - $673 million) and working capital (defined as current assets less assets classified as held for sale and current liabilities) of $843 million (December 31, 2021 - $802 million). In addition, the Company's $600 million Revolving Credit Facility ("RCF") remains fully undrawn and available.
On February 22, 2022, B2Gold's Board of Directors declared a cash dividend for the first quarter of 2022 of $0.04 per common share (or an expected $0.16 per share on an annualized basis), paid on March 17, 2022 to shareholders of record as of March 9, 2022.
Due to the Company's strong net positive cash position, strong operating results and the current higher gold price environment, B2Gold's quarterly dividend rate is expected to be maintained at $0.04 per common share (or an annualized rate of $0.16 per common share), one of the highest dividend yields in the gold sector. The declaration and payment of future quarterly dividends remains at the discretion of the Board and will depend on the Company's financial results, cash requirements, future prospects and other factors deemed relevant by the Board.
Operations
Mine-by-mine gold production in the first quarter of 2022 (including the Company's estimated 25% attributable share of Calibre's production) was as follows:
Mine-by-mine cash operating costs per ounce (on a per ounce of gold produced basis) in the first quarter of 2022 were as follows (presented on a 100% basis):
Mine-by-mine cash operating costs per ounce (on a per ounce of gold sold basis) in the first quarter of 2022 were as follows (presented on a 100% basis):
Mine-by-mine AISC (on a per ounce of gold sold basis) in the first quarter of 2022 were as follows (presented on a 100% basis):
Fekola Gold Mine - Mali
The Fekola Mine in Mali had a successful start to the year with first quarter of 2022 gold production of 101,648 ounces, slightly above budget by 1% (917 ounces), as higher than budgeted processed grade (6%) offset lower than budgeted processed tonnes (5%) based on a reduction in saprolite processed. As a precautionary measure to hedge against potential supply chain problems arising from ECOWAS sanctions, the Fekola Mine proactively prioritized the processing of high-grade fresh ore to reduce reagent consumption and ensure that sufficient reagents remained available to process higher-grade ore to meet budgeted gold production (which resulted in lower than budgeted throughput for the first quarter of 2022). Although the sanctions continue, the situation has normalized as regular imports of reagents were received by Fekola in February and March 2022. As a result, saprolite ore was reintroduced back into the Fekola mill feed blend at the end of February 2022, and the processing of saprolite ore resumed as planned and is ongoing. Fekola's gold production is expected to be significantly weighted to the second half of 2022 when mining reaches the higher-grade portion of Phase 6 of the Fekola Pit and Cardinal operations are at full capacity. As expected, compared to the first quarter of 2021, Fekola's gold production was lower by 19% (23,440 ounces), due to planned significant waste stripping and lower mined ore tonnage, as Phase 6 of the Fekola Pit continues to be developed in the first half of 2022.
For the first quarter of 2022, mill feed grade was 1.54 grams per tonne ("g/t") compared to budget of 1.45 g/t and 1.99 g/t in the first quarter of 2021; mill throughput was 2.20 million tonnes compared to budget of 2.31 million tonnes and 2.07 million tonnes in the first quarter of 2021; and gold recovery averaged 93.3% compared to budget of 93.5% and 94.4% in the first quarter of 2021. For the first quarter of 2022, as described above, processed grade was above budget while processed tonnes were below budget mainly due to the brief temporary suspension of processing saprolite ore, offset by the processing of higher-grade ore, in January and February 2022. Processed grade was lower compared to the first quarter of 2021 due to the planned significant waste stripping campaign in the first quarter of 2022.
For the first quarter of 2022, Fekola's cash operating costs were $624 per ounce produced ($583 per ounce sold), significantly below budget by $157 per ounce produced (20%), mainly as a result of lower than budgeted mining, processing and site general costs. These favourable cost variances were mainly attributable to lower than budgeted fuel prices realized in the first quarter of 2022 (as fuel prices are set in advance by the State and therefore subject to timing delays between market fuel price increases and those experienced at the Fekola Mine) and below budgeted volumes of fuel and other consumables utilized due to lower overall tonnes mined and processed compared to budget. Mined tonnes were lower than budget due to a temporary change in mine sequencing to accommodate the temporary change in saprolite processing as discussed above. Over 20% of the power generated in first quarter of 2022 was solar, resulting in over 3.5 million litres of fuel savings and a reduction of over 11,000 tonnes of carbon emissions in the first quarter of 2022. As expected, Fekola's cash operating costs were higher in the first quarter of 2022 compared to $503 per ounce produced ($479 per ounce sold) in the first quarter of 2021, mainly as a result of the planned lower gold production, higher fuel and other consumable costs and increased mining costs from operating deeper in the Fekola Pit.
Fekola's AISC for the first quarter of 2022 were $987 per ounce sold (Q1 2021 - $770 per ounce sold), significantly below budget by $342 per ounce sold (26%), mainly attributable to the lower than budgeted cash operating costs, higher than budgeted gold ounces sold and lower sustaining capital expenditures ($14 million, mainly due to the timing of pre-stripping). The lower than budgeted sustaining capital expenditures were primarily a result of timing of pre-stripping and are expected to be incurred later in 2022.
Capital expenditures for the first quarter of 2022 totaled $28 million, primarily consisting of $14 million for pre-stripping, $6 million for mobile equipment for the Cardinal Zone, $4 million for mobile equipment purchases and rebuilds for Fekola and $4 million for the tailings storage facility dam raise.
On February 2, 2022, the Company announced an updated Mineral Resource estimate for the Cardinal Zone, adjacent to the Fekola Mine. The updated resource included a significantly increased Mineral Resource estimate for Cardinal Zone as at December 31, 2021 with an initial Indicated Mineral Resource estimate of 8,000,000 tonnes at 1.67 g/t gold for 430,000 ounces of gold, and an updated Inferred Mineral Resource estimate of 19,000,000 tonnes at 1.21 g/t gold for 740,000 ounces of gold, constrained within a conceptual pit run at US$1,800 per ounce gold. Approximately 50,000 ounces has been budgeted to be produced from the Cardinal Zone in 2022 and included in Fekola's 2022 production guidance. Based on engineering studies completed to date, the Cardinal Zone has the potential to add an average of approximately 60,000 ounces per year over the next 6 to 8 years to Fekola's annual gold production.
The low-cost Fekola Mine is expected to produce between 570,000 and 600,000 ounces of gold in 2022 at cash operating costs of between $510 and $550 per ounce and AISC of between $840 and $880 per ounce. For the first half of 2022, Fekola's gold production is expected to be between 220,000 and 230,000 ounces, which is expected to increase significantly to between 350,000 and 370,000 ounces during the second half of 2022. Based mainly on the weighting of production and timing of pre-stripping, Fekola's cash operating costs are expected to be between $720 and $760 per ounce in the first half of 2022, before significantly improving to between $380 and $420 per ounce during the second half of 2022. In addition, Fekola's AISC are expected to be between $1,140 and $1,180 per ounce in the first half of 2022, before significantly improving to between $660 and $700 per ounce during the second half of 2022.
Masbate Gold Mine – The Philippines
The Masbate Mine in the Philippines had a strong start to the year with first quarter of 2022 gold production of 59,764 ounces, above budget by 11% (5,711 ounces) and 4% (2,251 ounces) higher compared to the first quarter of 2021, mainly due to higher processed grade.
For the first quarter of 2022, mill feed grade was 1.19 g/t compared to budget of 1.09 g/t and 1.10 g/t in the first quarter of 2021; mill throughput was 2.01 million tonnes compared to budget of 1.93 million tonnes and 1.95 million tonnes in the first quarter of 2021; and gold recovery averaged 78.0% compared to budget of 79.7% and 83.6% in the first quarter of 2021. Processed grade was above budget in the first quarter of 2022 due to mining additional (unbudgeted) higher-grade areas identified within the planned mining areas. In addition, mine haulage optimizations related to the expansion of the tailings facility resulted in shorter than planned hauls of waste and increased mining rates and contributed to the above budgeted mined high-grade ore tonnage in the first quarter of 2022. Compared to the first quarter of 2021, gold recoveries were lower as a result of processing a higher proportion of fresh rock ore in the first quarter of 2022.
For the first quarter of 2022, Masbate's cash operating costs were $710 per ounce produced ($785 per ounce sold), well-below budget by $51 per ounce produced (7%), mainly the result of higher gold production partially offset by higher than budgeted diesel and HFO costs. As expected, Masbate's cash operating costs were higher in the first quarter of 2022 compared to $608 per ounce produced ($578 per ounce sold) in the first quarter of 2021, mainly as a result of higher fuel and other consumable costs.
Masbate's AISC for the first quarter of 2022 were $1,022 per ounce sold (Q1 2021 - $818 per ounce sold), significantly below budget by $212 per ounce sold (17%), mainly as a result of lower than budgeted sustaining capital expenditures ($14 million) partially offset by lower than budgeted gold sales. The lower than budgeted sustaining capital expenditures were primarily a result of timing of expenditures and are expected to be incurred later in 2022.
Capital expenditures for the first quarter of 2022 totaled $6 million, including $2 million for mobile equipment purchases and rebuilds and $2 million for tailings storage facility projects and other processing related capital.
The Masbate Mine is expected to produce between 205,000 and 215,000 ounces of gold in 2022, with cash operating costs of between $740 and $780 per ounce and AISC of between $1,070 and $1,110 per ounce. Masbate's gold production is scheduled to be relatively consistent throughout 2022.
Otjikoto Gold Mine - Namibia
The Otjikoto Mine in Namibia performed well during the first quarter of 2022, producing 35,061 ounces of gold, 5% (1,803 ounces) above budget, with processed tonnes, grade and recoveries all slightly better than budget. As a result of the timing of higher-grade ore mining, Otjikoto's gold production is expected to be significantly weighted to the second half of 2022 when mining is scheduled to reach the higher-grade portions of Phase 3 of the Otjikoto Pit and ore production ramps up at the Wolfshag underground mine. As expected, compared to the first quarter of 2021, gold production was significantly higher by 52% (12,019 ounces), as processed ore in the first quarter of 2021 was primarily sourced from existing stockpiles while significant waste stripping operations continued at both the Wolfshag and Otjikoto pits.
For the first quarter of 2022, mill feed grade was 1.31 g/t compared to budget of 1.26 g/t and 0.82 g/t in the first quarter of 2021; mill throughput was 0.85 million tonnes compared to budget of 0.84 million tonnes and 0.89 million tonnes in the first quarter of 2021; and gold recovery averaged 98.5% compared to budget of 98.0% and 97.6% in the first quarter of 2021.
For the first quarter of 2022, Otjikoto's cash operating costs were $770 per ounce produced ($590 per ounce sold), below budget by $35 per ounce produced (4%), mainly the result of higher gold production as discussed above. Otjikoto's cash operating costs were slightly lower than budget for the first quarter of 2022 as higher than budgeted realized fuel prices were offset by an average weaker than budgeted Namibian dollar in the quarter. As expected, Otjikoto's cash operating costs were significantly lower in the first quarter of 2022 compared to $940 per ounce produced ($823 per ounce sold) in the first quarter of 2021, mainly as a result of higher gold production.
Otjikoto's AISC for the first quarter of 2022 were $878 per ounce sold (Q1 2021 - $1,475 per ounce sold), significantly below budget by $457 per ounce sold (34%), mainly due to lower than budgeted cash operating costs, higher than budgeted gold ounces sold and lower than budgeted sustaining capital expenditures ($5 million). The lower than budgeted sustaining capital expenditures were primarily a result of timing and are expected to be incurred later in 2022.
Capital expenditures for the first quarter of 2022 totaled $16 million, primarily consisting of $6 million for pre-stripping in the Otjikoto Pit, $6 million for Wolfshag underground mine development, $2 million for mobile equipment rebuilds and replacements and $2 million for the national power grid connection line.
Development of the Wolfshag underground mine continues to progress with first development ore production expected to commence in the first half of 2022. The initial underground Mineral Reserve estimate for the down-plunge extension of the Wolfshag deposit includes 210,000 ounces of gold in 1.2 million tonnes of ore at 5.57 g/t gold.
The Otjikoto Mine is expected to produce between 175,000 and 185,000 ounces of gold in 2022, with cash operating costs of between $740 and $780 per ounce and AISC of between $1,120 and $1,160 per ounce. For the first half of 2022, Otjikoto's gold production is expected to be between 65,000 and 70,000 ounces, which is expected to increase significantly to between 110,000 and 115,000 ounces during the second half of 2022. Based mainly on the weighting of the planned production and timing of pre-stripping, Otjikoto's cash operating costs are expected to be between $960 and $1,000 per ounce in the first half of 2022, before significantly improving to between $620 and $660 per ounce during the second half of 2022. In addition, Otjikoto's AISC are expected to be between $1,460 and $1,500 per ounce in the first half of 2022, before significantly improving to between $930 and $970 per ounce during the second half of 2022.
Development
Anaconda Area (comprised of the Menankoto and Bantako North permits) - Mali
On March 23, 2022, the Company announced an updated and significantly increased Mineral Resource estimate for the Anaconda area, comprised of the Menankoto permit and the Bantako North permit, located approximately 20 kilometres from the Fekola Mine. The updated and significantly increased Anaconda Mineral Resource estimate (as at January 11, 2022) constrained within a conceptual pit shell at a gold price of $1,800 per ounce included an initial Indicated Mineral Resource estimate of 32,400,000 tonnes at 1.08 g/t gold for a total 1,130,000 ounces of gold, and Inferred Mineral Resource estimate of 63,700,000 tonnes at 1.12 g/t gold for 2,280,000 ounces of gold. The Mineral Resource estimate included first time reporting of 1,130,000 ounces of Indicated Mineral Resources and an increase of 1,510,000 ounces (196% increase) of Inferred Mineral Resources since the initial Inferred Mineral Resource estimate in 2017 (21,590,000 tonnes at 1.11 g/t gold, for 767,000 ounces).
In 2022, the Company has budgeted $33 million for development of infrastructure for Phase I saprolite mining at the Anaconda area, including road construction. Based on the updated Mineral Resource estimate and B2Gold's preliminary planning, the Company has demonstrated that a pit situated on the Anaconda area could provide selective higher grade saprolite material (average grade of 2.2 g/t) to be trucked to and fed into the Fekola mill commencing as early as late 2022 at a rate of 1.5 million tonnes per annum. Subject to obtaining all necessary permits and completion of a final development plan, the trucking of selective higher grade saprolite material to the Fekola mill would increase the ore processed and annual gold production from the Fekola mill, with the potential to add an average of approximately 80,000 to 100,000 ounces per year to the Fekola mill's annual gold production. The plan to truck the selective higher grade saprolite material is not included in the Company's 2022 production guidance and the Anaconda area Mineral Resources have not been included in the current Fekola life of mine plan.
Based on the updated Mineral Resource estimate and the 2022 exploration drilling results, the Company has commenced a Phase II scoping study to review the project economics of constructing a stand-alone mill near the Anaconda area. Subject to receipt of a positive Phase II scoping study, the Company expects that the saprolite material would continue to be trucked to and fed into the Fekola mill during the construction period for the Anaconda area stand-alone mill.
In 2022, the Company is drilling to infill and extend the saprolite resource area and to follow up on the sulphide mineralization at the Anaconda area, including the Mamba and Adder zones, and several other targets below the saprolite mineralization. The good grade and width combinations at the Anaconda area continue to provide a strong indication of the potential for Fekola-style south plunging bodies of sulphide mineralization, which remains open down plunge. Four drill rigs are currently drilling in the Anaconda area.
In April 2022, the Company acquired the Bakolobi permit in Mali from a local Malian company. The Bakolobi permit is located between the Menankoto permit, to the North, and the Fekola Mine's Medinandi permit, wrapping around the latter to its south-west end, covering an area of 100 km2. The acquisition of the Bakolobi permit results in the ownership by the Company of four contiguous exploration and/or exploitation permits covering 237 km2, extending from the northwestern end of the Bantako North permit and the North-East of the Menankoto permit, southwest of the Medinandi permit (Fekola Mine and Cardinal Zone) to the southeast end of the Bakolobi permit.
Gramalote Project (B2Gold – 50%/AngloGold Ashanti Limited ("AngloGold") – 50%) - Colombia
Following a review of Gramalote's feasibility study work to date, B2Gold believes that there is strong potential to improve the economics of the project (economic highlights were previously released on May 4, 2021 based on the feasibility study work to date), which could be developed by revisiting the original Gramalote Project design parameters included in the existing mining permit (as applied in the Gramalote Preliminary Economic Assessment in January 2020 and historical AngloGold studies) and further optimizing project design. Review of the updated Gramalote Ridge Mineral Resource also shows that further value can be created through additional drilling of the Inferred portions of the Mineral Resource area, both within and adjacent to the designed pit.
An updated, revised budget that has been prepared to carry the Gramalote Project to completion of the feasibility study is currently under review by B2Gold and AngloGold. The revised budget will fund ongoing the Gramalote Feasibility Study optimization, exploration, community support, continued advancement of key social commitments and compliance with regulatory and Environmental Impact Assessment requirements. A separate construction budget is expected to be developed subsequently upon a positive (optimized) Gramalote Feasibility Study and construction decision.
B2Gold expects that the results of final feasibility study will be available by the end of the second quarter of 2022 with the full feasibility study completed by the end of the third quarter of 2022. If the final economics of the feasibility study are positive and B2Gold and AngloGold make the decision to develop Gramalote as an open-pit gold mine (decision date now expected by the end of the third quarter of 2022), B2Gold would utilize its proven internal mine construction team to build the mine and mill facilities and operate the mine on behalf of the Gramalote Project.
The Gramalote Project continues to benefit from strong federal and local government support as well as continuing support from local communities.
Summary and Outlook
The Company is pleased with its first quarter of 2022 results as outlined in this news release, particularly given the challenges mining companies are facing around the world. Based on a strong operational and financial first quarter of 2022, the Company is on track to meet its annual gold production guidance for 2022 of between 990,000 - 1,050,000 ounces (including 40,000 - 50,000 attributable ounces projected from Calibre) with total consolidated cash operating costs of between $620 - $660 per ounce and total consolidated AISC of between $1,010 - $1,050 per ounce.
Following the receipt of the Menankoto permit in Mali, the Company is expanding the scope of its exploration activities on the Anaconda area (comprised of the Menankoto permit and the Bantako North permit) to build on the successful exploration programs already completed to date. The Company will continue to follow up on the sulphide mineralization at the Mamba, Adder and several other targets below the saprolite mineralization in 2022. In April 2022, the Company completed the acquisition of the Bakolobi permit from a local Malian company. The Bakolobi permit is located between the Menankoto permit, to the North, and the Fekola Mine's Medinandi permit, wrapping around the latter to its south-west end, covering an area of 100 km2. The acquisition of the Bakolobi permit results in the ownership by the Company of four contiguous exploration and/or exploitation permits covering 237 km2, extending from the northwestern end of the Bantako North permit and the North-East of the Menankoto permit, southwest of the Medinandi permit (Fekola Mine and Cardinal Zone) to the southeast end of the Bakolobi permit.
B2Gold's preliminary planning has demonstrated that a pit situated on the Anaconda area could provide saprolite material to be trucked to and fed into the Fekola mill commencing in late 2022, increasing the ore processed and annual gold production from the Fekola mill, subject to obtaining all necessary permits and completion of a final mine plan. Based on the updated Mineral Resource estimate and the 2022 exploration drilling results, the Company has commenced a Phase II scoping study to review the project economics of constructing a stand-alone mill near the Anaconda area. Subject to receipt of a positive Phase II scoping study, the Company expects that the saprolite material would continue to be trucked to and fed into the Fekola mill during the construction period for the Anaconda area stand-alone mill. The potential to truck material from the Anaconda Area in late 2022 is currently being developed and is not included in Fekola's 2022 production guidance or the current Fekola life of mine plan.
The Company also continues to advance its other development project, with work continuing on the Gramalote Project and the completion of the final Gramalote feasibility study. Results from the Gramalote feasibility study are expected to be available by the end of the second quarter of 2022 with the full feasibility study completed by the end of the third quarter of 2022. If the final economics of the feasibility study are positive and B2Gold and AngloGold make the decision to develop Gramalote as an open-pit gold mine (decision date now expected by the end of the third quarter of 2022), B2Gold would utilize its proven internal mine construction team to build the mine and mill facilities and operate the mine on behalf of the Gramalote Project.
After a very successful year for exploration in 2021, B2Gold is conducting an aggressive exploration campaign in 2022 with a budget of approximately $65 million (excluding the Gramalote Project). Exploration will focus predominantly in Mali, other operating mine sites in Namibia and the Philippines, and continued focus on grassroots targets around the world. Many years of target generation and pursuing opportunities in prospective gold regions has culminated in the Company allocating a record $29 million for its grassroots exploration programs, including several new regions. Included in the grassroots exploration program is $8 million allocated to Finland for the Central Lapland Joint Venture with Aurion Resources Ltd. Most significantly, the westward extension of Rupert Resources' Ikarri discovery trends directly onto the Joint Venture ground. This trend (named the Helmi trend on the Joint Venture ground) coincides with B2Gold's base-of-till drilling and the same interpreted structure as defined by airborne geophysics. Diamond drilling in 2021 has confirmed the presence of mineralization on this structure and is being successfully followed up in 2022, with 11,600 metres planned.
The Company's ongoing strategy is to continue to maximize profitable production from its mines, further advance the Anaconda and Gramalote development projects, advance the Company's numerous brownfield and greenfield exploration projects, evaluate new exploration, development and production opportunities and continue to pay an industry leading dividend yield.
First Quarter 2022 Financial Results - Conference Call Details
B2Gold executives will host a conference call to discuss the results on Wednesday, May 4, 2022, at 10:00 am PST/1:00 pm EST. You may access the call by dialing the operator at +1 (778) 383-7413 / +1 (416) 764-8659 (Vancouver/Toronto) or toll free at +1 (888) 664-6392 prior to the scheduled start time or you may listen to the call via webcast by clicking here. A playback version will be available for two weeks after the call at +1 (416) 764-8677 (local or international) or toll free at +1 (888) 390-0541 (passcode 666652 #).
Qualified Persons
Bill Lytle, Senior Vice President and Chief Operating Officer, a qualified person under NI 43-101, has approved the scientific and technical information related to operations matters contained in this news release.
On Behalf of B2GOLD CORP.
"Clive T. Johnson"
President and Chief Executive Officer
The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in this news release.
Production results and production guidance presented in this news release reflect total production at the mines B2Gold operates on a 100% project basis. Please see our Annual Information Form dated March 30, 2022 for a discussion of our ownership interest in the mines B2Gold operates.
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively forward-looking statements") within the meaning of applicable Canadian and United States securities legislation, including: projections; outlook; guidance; forecasts; estimates; and other statements regarding future or estimated financial and operational performance, gold production and sales, revenues and cash flows, and capital costs (sustaining and non-sustaining) and operating costs, including projected cash operating costs and AISC, and budgets on a consolidated and mine by mine basis; the impact of the COVID-19 pandemic on B2Gold's operations, including any restrictions or suspensions with respect to our operations and the effect of any such restrictions or suspensions on our financial and operational results; the ability of the Company to successfully maintain our operations if they are temporarily suspended, and to restart or ramp-up these operations efficiently and economically, the impact of COVID-19 on the Company's workforce, suppliers and other essential resources and what effect those impacts, if they occur, would have on our business, our planned capital and exploration expenditures; future or estimated mine life, metal price assumptions, ore grades or sources, gold recovery rates, stripping ratios, throughput, ore processing; statements regarding anticipated exploration, drilling, development, construction, permitting and other activities or achievements of B2Gold; and including, without limitation: B2Gold generating operating cashflows of approximately $625 million in 2022 which are expected to be significantly weighted to the second half of 2022; remaining well positioned for continued strong operational and financial performance for 2022; projected gold production, cash operating costs and AISC on a consolidated and mine by mine basis in 2022, including production being weighted heavily to the second half of 2022; total consolidated gold production of between 990,000 and 1,050,000 ounces in 2022 with cash operating costs of between $620 and $660 per ounce and AISC of between $1,010 and $1,050 per ounce; the potential upside to increase Fekola's gold production in 2022 by trucking material from the Anaconda area, including the potential to add approximately 80,000 to 100,000 per year to Fekola's annual production profile, and for the Anaconda area to provide saprolite material to feed the Fekola mill starting in late 2022; the timing and results of a Phase II study for the Anaconda area to review the project economics of trucking sulphide material to the Fekola mill as compared to constructing another stand-alone mill near Anaconda; the potential for production from the Cardinal zone to add approximately 50,000 ounces in 2022 to the Company's production profile and approximately 60,000 per year over the next 6 to 8 years; the Fekola Mine to be well-positioned for any potential supply disruptions caused by the border closures following the ECOWAS sanctions; the development of the Wolfshag underground mine at Otjikoto, including the results of such development and the costs and timing thereof; stope ore production at the Wolfshag underground mine at Otjikoto commencing late in the first half of 2022; the potential payment of future dividends, including the timing and amount of any such dividends, and the expectation that quarterly dividends will be maintained at the same level; and B2Gold's attributable share of Calibre's production. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made.
Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond B2Gold's control, including risks associated with or related to: the duration and extent of the COVID-19 pandemic, the effectiveness of preventative measures and contingency plans put in place by the Company to respond to the COVID-19 pandemic, including, but not limited to, social distancing, a non-essential travel ban, business continuity plans, and efforts to mitigate supply chain disruptions; escalation of travel restrictions on people or products and reductions in the ability of the Company to transport and refine doré; the volatility of metal prices and B2Gold's common shares; changes in tax laws; the dangers inherent in exploration, development and mining activities; the uncertainty of reserve and resource estimates; not achieving production, cost or other estimates; actual production, development plans and costs differing materially from the estimates in B2Gold's feasibility and other studies; the ability to obtain and maintain any necessary permits, consents or authorizations required for mining activities; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; the ability to replace mineral reserves and identify acquisition opportunities; the unknown liabilities of companies acquired by B2Gold; the ability to successfully integrate new acquisitions; fluctuations in exchange rates; the availability of financing; financing and debt activities, including potential restrictions imposed on B2Gold's operations as a result thereof and the ability to generate sufficient cash flows; operations in foreign and developing countries and the compliance with foreign laws, including those associated with operations in Mali, Namibia, the Philippines and Colombia and including risks related to changes in foreign laws and changing policies related to mining and local ownership requirements or resource nationalization generally, including in response to the COVID-19 outbreak; remote operations and the availability of adequate infrastructure; fluctuations in price and availability of energy and other inputs necessary for mining operations; shortages or cost increases in necessary equipment, supplies and labour; regulatory, political and country risks, including local instability or acts of terrorism and the effects thereof; the reliance upon contractors, third parties and joint venture partners; the lack of sole decision-making authority related to Filminera Resources Corporation, which owns the Masbate Project; challenges to title or surface rights; the dependence on key personnel and the ability to attract and retain skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather conditions; litigation risk; competition with other mining companies; community support for B2Gold's operations, including risks related to strikes and the halting of such operations from time to time; conflicts with small scale miners; failures of information systems or information security threats; the ability to maintain adequate internal controls over financial reporting as required by law, including Section 404 of the Sarbanes-Oxley Act; compliance with anti-corruption laws, and sanctions or other similar measures; social media and B2Gold's reputation; risks affecting Calibre having an impact on the value of the Company's investment in Calibre, and potential dilution of our equity interest in Calibre; as well as other factors identified and as described in more detail under the heading "Risk Factors" in B2Gold's most recent Annual Information Form, B2Gold's current Form 40-F Annual Report and B2Gold's other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the "SEC"), which may be viewed at www.sedar.com and www.sec.gov, respectively (the "Websites"). The list is not exhaustive of the factors that may affect B2Gold's forward-looking statements.
B2Gold's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to B2Gold's ability to carry on current and future operations, including: the duration and effects of COVID-19 on our operations and workforce; development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; B2Gold's ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.
B2Gold's forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. B2Gold does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities B2Gold will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.
Non-IFRS Measures
This news release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ("IFRS"), including "cash operating costs" and "all-in sustaining costs" (or "AISC"). Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with B2Gold's consolidated financial statements. Readers should refer to B2Gold's Management Discussion and Analysis, available on the Websites, under the heading "Non-IFRS Measures" for a more detailed discussion of how B2Gold calculates certain of such measures and a reconciliation of certain measures to IFRS terms.
Cautionary Statement Regarding Mineral Reserve and Resource Estimates
The disclosure in this news release was prepared in accordance with Canadian National Instrument 43-101, which differs significantly from the requirements of the United States Securities and Exchange Commission ("SEC"), and resource and reserve information contained or referenced in this news release may not be comparable to similar information disclosed by public companies subject to the technical disclosure requirements of the SEC. Historical results or feasibility models presented herein are not guarantees or expectations of future performance.
B2GOLD CORP.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 31
(Expressed in thousands of United States dollars, except per share amounts)
(Unaudited)
B2GOLD CORP.
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31
(Expressed in thousands of United States dollars)
(Unaudited)
B2GOLD CORP.
CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS
(Expressed in thousands of United States dollars)
(Unaudited)
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New Homes Now Selling in American Fork, Mapleton, Syracuse and West Point
SALT LAKE CITY, May 3, 2022 /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS), a top 10 national homebuilder offering homes for purchase online, is excited to announce the opening of four new Wasatch Front communities: American Fork Crossing (American Fork), Mapleton Heights (Mapleton), Shoreline West (Syracuse), and Dahlia Estates (West Point).
Buyers can choose from a versatile selection of rambler and two-story single-family homes at all communities—boasting inspired open-concept layouts with lofts, sunrooms, gourmet kitchens and more (per plan). Plus, each home includes stylish and convenient features designed for everyday life, such as the company's Century Home Connect® smart home package.
For more information or to request an appointment, call 385.345.4993.
About American Fork Crossing
879 West 800 South
American Fork, UT 84003
- Two single-family home collections (Villas and Estates) from the $600s
- 148 homesites
- 8 rambler and two-story floor plans
- 3 to 6 bedrooms, 2 to 4 baths, 2- to 4-bay garages, up to 3,394 square feet
- Prime location in the heart of Silicon Slopes, offering quick access to I-15, plus a variety of shopping, dining and outdoor recreation
Explore American Fork Crossing at www.CenturyCommunities.com/AmericanForkCrossing.
About Mapleton Heights
1387 Mapleton Heights Court
Mapleton, UT 84664
- Single-family homes from the $800s
- 40 homesites
- 5 rambler and two-story floor plans
- 3 to 6 bedrooms, 3 to 5 baths, 3- to 4-bay garages, up to 6,243 square feet
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Check out Mapleton Heights at www.CenturyCommunities.com/MapletonHeights.
About Shoreline West
2711 West 2850 South
Syracuse, UT 84075
- Single-family homes from the $500s
- 68 homesites
- 7 rambler and two-story floor plans
- 3 to 5 bedrooms, 2 to 4 baths, 2-bay garages, up to 2,903 square feet
- Convenient location with quick access to Hill Air Force Base, Antelope Island State Park, shopping and dining
Explore Shoreline West at www.CenturyCommunities.com/ShorelineWest.
About Dahlia Estates
4469 West 300 North
West Point, UT 84015
- Single-family homes from the $600s
- 49 homesites
- 7 rambler and two-story floor plans
- 3 to 5 bedrooms, 3 to 4 baths, 2- to 4-bay garages, up to 3,531 square feet
- Close proximity to abundant outdoor recreation—including the scenic Great Salt Lake, Antelope Island State Park and Thurston Peak. Also offering a quick commute to Layton, plus easy access to boutique shopping, excellent dining and entertainment.
Explore Dahlia Estates at www.CenturyCommunities.com/DahliaEstates.
"We're excited to continue building on a solid foundation of new home offerings throughout the Wasatch Front, with exceptional locations offering beautiful open-concept floor plans, available through our industry-first Buy Online experience," said Chase Turner, Utah Division President. "With the spring homebuying season in full swing, now's the perfect time for buyers to visit and find their dream home."
DISCOVER THE FREEDOM OF ONLINE HOMEBUYING:
Century Communities is proud to feature its industry-first online homebuying experience on all available homes in the Utah.
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- Shop homes at CenturyCommunities.com
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- Fill out a quick Buy Online form
- Electronically submit an initial earnest money deposit
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Learn more about the Buy Online experience at www.CenturyCommunities.com/online-homebuying.
About Century Communities
Century Communities, Inc. (NYSE: CCS) is a top 10 national homebuilder, offering new homes under the Century Communities and Century Complete brands. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Colorado-based company operates in 17 states and over 45 markets across the U.S., and also offers title, insurance and lending services in select markets through its Parkway Title, IHL Home Insurance Agency, and Inspire Home Loans subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.
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All dollar figures in US dollars, unless otherwise indicated
VANCOUVER, BC, May 3, 2022 /PRNewswire/ - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) ("Equinox Gold" or the "Company") is pleased to announce its first quarter 2022 summary financial and operating results. The Company's unaudited condensed consolidated interim financial statements and related management's discussion and analysis for the three months ended March 31, 2022 will be available for download on SEDAR, on EDGAR and on the Company's website. The Company will host a conference call and webcast on May 4, 2022 commencing at 7:30 am Pacific Time to discuss the Company's first quarter results and activities underway at the Company's projects. Further details are provided at the end of this news release.
Christian Milau, CEO of Equinox Gold, commented: "Over the first few months of 2022 we poured first gold at our new Santa Luz mine in Brazil, strengthened our balance sheet and investment portfolio with the sale of our non-core Mercedes mine, and made good progress with construction at our Greenstone project. We expect gold production to increase and costs to come down over the next three quarters with new production from Santa Luz, increased production from our other Brazil mines as the rainy season ends, and growing production at Mesquite. We are on track to achieve guidance for 2022, with 60% of production and more than 85% of cash flow forecast to come in the second half of the year. We look forward to achieving commercial production at Santa Luz and reporting on construction milestones at Greenstone as we ramp up activity heading into the summer season."
HIGHLIGHTS FOR THE THREE MONTHS ENDED MARCH 31, 2022
Operational
- Produced 117,452 oz of gold during the quarter; sold 119,324 oz of gold at an average realized gold price of $1,862 per oz
- Total cash costs of $1,238 per oz and AISC (all-in sustaining costs) of $1,578 per oz(1)
- Recommenced plant operations at RDM on March 14 following a temporary suspension on February 26 to reduce water levels in the tailings storage facility; mining and stockpiling of ore continued during the suspension
- Total recordable injury frequency rate of 3.76 for the quarter with five lost-time injuries, and 3.01 on a rolling 12-month basis
Earnings
- Earnings from mine operations of $28.5 million
- Net loss of $19.8 million or $(0.07) per share
- Adjusted net loss of $23.9 million(1) or $(0.08) per share(1), after adjusting for certain non-cash expense items(2)
Financial
- Cash flow from operations before changes in non-cash working capital of $33.5 million ($16.4 million cash flow used in operations after changes in non-cash working capital)
- Adjusted EBITDA of $43.4 million(1)(2)
- Expenditures of $37.1 million in sustaining capital and $90.7 million in non-sustaining capital(1)
- Cash and cash equivalents (unrestricted) of $151.2 million at March 31, 2022
- Net debt(1) of $385.1 million at March 31, 2022 (including $278.9 million of in-the-money convertible notes)
Construction, development and exploration
- Poured first gold at Santa Luz on March 30, 2022; commissioning and ramp up continuing towards achieving commercial production
- Advanced Greenstone construction
POST QUARTER HIGHLIGHTS
- Sold Mercedes on April 21, 2022 to Bear Creek Mining Corporation for aggregate consideration of:
- Exploration drilling in 70-km-long greenstone belt that hosts Fazenda and Santa Luz identified multiple near-mine and regional discoveries that highlight growth potential
- Received $40 million (C$50 million) and transferred five million shares of the Company's investment in Solaris Resources Inc. following the exercise of warrants the Company granted on April 28, 2021
- Acquired 1 million shares of Solaris at C$6.75 per share on exercise of share purchase warrants. Following the exercise of the share purchase warrants, the Company owns 13,826,737 shares, representing approximately 12.71% of Solaris
During Q1 2022, the Company recognized revenue of $223.2 million on sales of 119,324 ounces of gold, compared to revenue for the three months ended December 31, 2021 ("Q4 2021") of $381.2 million on sales of 212,255 ounces of gold. Gold ounces sold and revenues are comparable to Q1 2021. The decrease in ounces sold from Q4 2021 to Q1 2022 was mainly due to decreased production at Los Filos, Aurizona, Mesquite and RDM. In accordance with the sites' mine plans, waste stripping occurs early in the calendar year, resulting in the majority of ore tonnes being mined later in the year. In addition to this, Q1 2022 production for RDM and Aurizona was lower than Q4 2021 due to higher levels of rainfall impeding production.
In Q1 2022, earnings from mine operations were $28.5 million, a decrease compared to $99.4 million in Q4 2021. Earnings from mine operations was impacted by lower gold production and higher operating costs due to oil prices, supply chain constraints and inflationary pressures. Net loss in Q1 2022 was $19.8 million compared to net income of $109.0 million in Q4 2021, driven by the decrease in earnings from mine operations and a $18.7 million loss on the change in fair value of share purchase warrants in Q1 2022 compared to a gain of $27.5 million in Q4 2021.
Adjusted EBITDA for Q1 2022 of $43.4 million decreased from $130.0 million in Q4 2021 driven by lower earnings from mine operations in Q1 2022. Adjusted net loss was $23.9 million for Q1 2022 compared to adjusted net income of $72.2 million in Q4 2021.
Additional information regarding the Company's financial results and activities underway at the Company's projects is available in the Company's Q1 2022 Financial Statements and accompanying management's discussion and analysis for the three months ended March 31, 2022, which will be available for download on the Company's website at www.equinoxgold.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.
RECENT DEVELOPMENTS
Due to a reversal of previous decisions by SUPRAM (State Environmental Agency - Minas Gerais), permitting the next TSF raise at RDM is delayed. Discussions with regulatory authorities are ongoing. If the Company is not able to achieve satisfactory resolution prior to the need to start the next raise in Q2 2022, operations at the mine may be temporarily suspended commencing in Q2 or Q3 2022.
The RDM TSF is raised on an intermittent basis throughout the mine life to store additional tailings produced from ongoing operations. The TSF has been designed and is operated to industry best practices and is regularly inspected and audited by independent parties. A design alteration was filed with SUPRAM in 2017 to change from a centreline to a downstream design, which is considered the safest construction method, and since 2018 each raise has been completed using a downstream design. Permits to raise the TSF using a downstream design were granted in 2019 and 2020. In 2020, the Company requested a raise method formalization as an addendum to the license to operate, confirming the change to a downstream design, and in early 2021 SUPRAM granted the permit to raise the TSF to its current level. In 2021, the Company applied for a permit for the next TSF raise, which has not been granted to date.
NON-IFRS MEASURES
The Company's financial and operating results are prepared in accordance with International Financial Reporting Standards ("IFRS"). This news release includes the following non-IFRS measures which have no standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. Such non-IFRS measures have been derived from the Company's financial statements and are consistently measured and presented. Non-IFRS measures are intended to provide additional information about the performance of the Company and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Numbers presented in the tables below may not sum due to rounding.
Cash costs and cash costs per oz sold
Cash costs is a common financial performance measure in the gold mining industry; however, it has no standard meaning under IFRS. The Company reports total cash costs on a per oz sold basis. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate operating income and cash flow from mining operations. Cash costs include mine site operating costs plus lease principal payments, but are exclusive of depreciation and depletion, reclamation, capital and exploration costs and net of by-product sales and then divided by ounces sold to arrive at cash costs per oz sold. The measure is not necessarily indicative of cash flow from operations under IFRS or operating costs presented under IFRS.
AISC per oz sold
The Company is reporting AISC per oz of gold sold. The methodology for calculating AISC was developed internally and is calculated below. Readers should be aware that this measure does not have a standardized meaning. 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. The Company believes the AISC measure 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 calculating AISC, the Company includes silver by-product credits as it considers the cost to produce the gold is reduced as a result of the by-product sales incidental to the gold production process, thereby allowing management and other stakeholders to assess the net costs of gold production.
The following table provides a reconciliation of cash costs per oz of gold sold and AISC per oz of gold sold to the most directly comparable IFRS measure on an aggregate basis.
Sustaining and non-sustaining capital reconciliation
Sustaining capital expenditures are defined as those expenditures which do not increase annual gold ounce production at a mine site and excludes all expenditures at the Company's projects and certain expenditures at the Company's operating sites which are deemed expansionary. Sustaining capital expenditures can include, but are not limited to, capitalized stripping costs at open pit mines, underground mine development, mining and milling equipment and TSF raises.
The following table provides a reconciliation of sustaining capital expenditures to the Company's total capital expenditures for continuing operations.
Total mine-site free cash flow
Mine-site free cash flow is a non-IFRS financial performance measure. The Company believes this measure is a useful indicator of its ability to operate without reliance on additional borrowing or usage of existing cash. Mine-site free cash flow is intended to provide additional information only and does not have any standardized meaning under IFRS and may not be comparable to similar measures of performance presented by other mining companies. Mine-site free cash flow should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
The following table provides a reconciliation of mine-site free cash flow to the most directly comparable IFRS measure on an aggregate basis:
AISC contribution margin, EBITDA and adjusted EBITDA
The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use AISC contribution margin and adjusted EBITDA to evaluate the Company's performance and ability to generate cash flows and service debt. AISC contribution margin is defined as revenue less AISC. EBITDA is defined as earnings before interest, tax, depreciation and amortization. Adjusted EBITDA is defined as earnings before interest, tax, depreciation, and amortization, adjusted to exclude specific items that are significant but not reflective of the underlying operating performance of the Company, such as the impact of fair value changes of warrants, foreign exchange contracts and gold contracts; unrealized foreign exchange gains and losses, transaction costs, and share-based compensation expense. It is also adjusted to exclude items whose timing or amount cannot be reasonably estimated in advance or that are not considered representative of core operating performance, such as impairments and gains and losses on disposals of assets.
Prior to Q4 2021, adjusted EBITDA was calculated excluding transaction costs as an adjusting item. Commencing in Q4 2021, the Company has adjusted for transaction costs as this item is not considered representative of core operating performance. The calculation of adjusted EBITDA for March 31, 2021 has been adjusted to conform with the current methodology and is different from those previously reported.
The following tables provide the calculation of AISC contribution margin, EBITDA and adjusted EBITDA, as calculated by the Company:
Adjusted net income and adjusted EPS
Adjusted net income and adjusted EPS are used by management and investors to measure the underlying operating performance of the Company. Adjusted net income is defined as net income adjusted to exclude specific items that are significant but not reflective of the underlying operating performance of the Company, such as the impact of fair value changes in the value of warrants, foreign exchange contracts and gold contracts, unrealized foreign exchange gains and losses, and non-cash share-based compensation expense. It is also adjusted to exclude items whose timing or amount cannot be reasonably estimated in advance or that are not considered representative of core operating performance, such as impairments and gains and losses on disposals of assets. Adjusted net income per share amounts are calculated using the weighted average number of shares outstanding on a basic and diluted basis as determined by IFRS.
Prior to Q4 2021, adjusted net income was calculated excluding transaction costs as an adjusting item. Commencing in Q4 2021, the Company has adjusted for transaction costs as this item is not considered representative of core operating performance. The calculation of adjusted net income for March 31, 2021 has been adjusted to conform with the current methodology and is different from those previously reported.
The following table provides the calculation of adjusted net income and adjusted EPS, as adjusted and calculated by the Company:
Net debt
The Company believes that in addition to conventional measures prepared in accordance with IFRS, the Company and certain investors and analysts use net debt to evaluate the Company's performance. Net debt does not have any standardized meaning prescribed under IFRS, and therefore it may not be comparable to similar measures employed by other companies. This measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performances prepared in accordance with IFRS. Net debt is calculated as the sum of the current and non-current portions of long-term debt, net of the cash and cash equivalent balance as at the balance sheet date. A reconciliation of net debt is provided below.
Equinox Gold will host a conference call and webcast on Wednesday, May 4, 2022 commencing at 7:30 am Pacific Time to discuss the Company's first quarter results and activities underway at the Company's projects. All participants will have the opportunity to ask questions of Equinox Gold's CEO and executive team. The webcast will be archived on Equinox Gold's website until November 4, 2022.
Conference call
Toll-free in U.S. and Canada: 1-800-319-4610
International callers: +1 604-638-5340
Webcast
www.equinoxgold.com
ABOUT EQUINOX GOLD
Equinox Gold is a Canadian mining company operating entirely in the Americas, with six operating gold mines, a mine in commissioning, and a clear path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects. Equinox Gold's common shares are listed on the TSX and the NYSE American under the trading symbol EQX. Further information about Equinox Gold's portfolio of assets and long-term growth strategy is available at www.equinoxgold.com or by email at ir@equinoxgold.com.
CAUTIONARY NOTES
Technical Information
Doug Reddy, Msc, P.Geo., Equinox Gold's COO, is the Qualified Person under National Instrument 43-101 for this Equinox Gold press release and has reviewed and approved the technical information in this document.
Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation and may include future-oriented financial information. Forward-looking statements and forward-looking information in this news release relate to, among other things: the strategic vision for the Company and expectations regarding exploration potential, production capabilities and future financial or operational performance; the Company's ability to successfully advance its growth and development projects, including the commissioning of Santa Luz, the construction of Greenstone and the expansions at Los Filos, Castle Mountain and Aurizona; the expectations for the Company's investments in Solaris, i-80 Gold, Pilar Gold and Bear Creek; the Company's production and cost guidance; and conversion of Mineral Resources to Mineral Reserves. Forward-looking statements or information generally identified by the use of the words "believe", "will", "advancing", "strategy", "plans", "budget", "anticipated", "expected", "estimated", "on track", "target", "objective" and similar expressions and phrases or statements that certain actions, events or results "may", "could", or "should", or the negative connotation of such terms, are intended to identify forward-looking statements and information. Although the Company believes that the expectations reflected in such forward-looking statements and information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. The Company has based these forward-looking statements and information on the Company's current expectations and projections about future events and these assumptions include: Equinox Gold's ability to achieve the exploration, production, cost and development expectations for its respective operations and projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; commissioning of Santa Luz and construction of Greenstone being completed and performed in accordance with current expectations; expansion projects at Los Filos, Castle Mountain and Aurizona being completed and performed in accordance with current expectations; tonnage of ore to be mined and processed; ore grades and recoveries; availability of funds for the Company's projects and future cash requirements; capital, decommissioning and reclamation estimates; Mineral Reserve and Mineral Resource estimates and the assumptions on which they are based; prices for energy inputs, labour, materials, supplies and services; no labour-related disruptions and no unplanned delays or interruptions in scheduled construction, development and production, including by blockade or industrial action; the Company's working history with the workers, unions and communities at Los Filos; all necessary permits, licenses and regulatory approvals are received in a timely manner, including for the RDM tailings storage facility raise; the Company's ability to comply with environmental, health and safety laws and other regulatory requirements; the strategic visions for i-80 Gold, Solaris Resources, Pilar Gold and Bear Creek and their respective abilities to successfully advance their projects; the ability of Pilar Gold and Bear Creek to meet their respective payment commitments to the Company; and the ability of Equinox Gold to work productively with its joint venture partner and Indigenous partners at Greenstone. While the Company considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Accordingly, readers are cautioned not to put undue reliance on the forward-looking statements or information contained in this news release.
The Company cautions that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements and information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services; fluctuations in currency markets; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); inadequate insurance, or inability to obtain insurance to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and indigenous populations; the Company's ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner or at all, including for the RDM tailings storage facility raise; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mining including those imposed in connection with COVID-19; risks relating to expropriation; increased competition in the mining industry; a successful relationship between the Company and Orion; the failure by Pilar Gold or Bear Creek to meet their respective payment commitments to the Company; and those factors identified in the section titled "Risks and Uncertainties" in the Company's MD&A dated May 3, 2022 for the three months ended March 31, 2022, the section titled "Risks and Uncertainties" in the Company's MD&A dated March 23, 2022 for the year ended December 31, 2021, and in the section titled "Risks Related to the Business" in the Company's Annual Information Form dated March 24, 2022 for the year ended December 31, 2021, all of which are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar. Forward-looking statements and information are designed to help readers understand management's views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement or information contained or incorporated by reference to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements and information. If the Company updates any one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements. All forward-looking statements and information contained in this news release are expressly qualified in their entirety by this cautionary statement.
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SOURCE Equinox Gold Corp. | https://www.whsv.com/prnewswire/2022/05/03/equinox-gold-reports-first-quarter-2022-financial-operating-results/ | 2022-05-04T00:21:56Z |
Berkshire Hathaway Affiliate Joins Title Insurance Underwriting JV with Centerbridge and Realogy
DALLAS, May 3, 2022 /PRNewswire/ -- Title Resources Group ("TRG" and the "JV"), one of the nation's leading title insurance underwriters, today announced that HomeServices of America ("HomeServices") is acquiring a minority stake in TRG. Financial terms were not disclosed. HomeServices, an affiliate of Berkshire Hathaway, is the nation's largest residential real estate company, based on closed transactions.
HomeServices is joining TRG's other major shareholders, Centerbridge Partners, L.P. and Realogy Holdings Corp., in participating in the JV. The expanded roster of joint venture partners will be instrumental in accelerating TRG's mission and growth as the title underwriter built for the real estate industry.
"HomeServices of America is a long-time, valued customer of TRG, and we're thrilled to welcome them as a significant shareholder to our joint venture. We look forward to working with their team to expand our collaboration in the months and years ahead, further accelerating our growth," said Scott McCall, president and CEO, Title Resources Group.
"Our strengthened partnership with Title Resources Group further enhances the ability of HomeServices' sales associates to provide clients with a one-stop shopping approach to delivering the American dream of homeownership," said Gino Blefari, CEO, HomeServices. "We're excited to be a part of this joint venture with Scott McCall and his team, as well as our other partners at Centerbridge and Realogy."
"We are pleased to partner with HomeServices of America on this compelling JV," said Kevin Mahony, managing director at Centerbridge. "The investment in TRG by its long-time customer validates the bright prospects for the business, and we are excited about the strategic benefits of expanding the relationship. HomeServices' perspective and track record of success will be invaluable as we shape and execute TRG's growth and value creation plan together."
"The continued investment in TRG's future is a powerful endorsement of Realogy's strategy to unleash the underwriter's growth potential and reinforces our confidence in the exciting opportunity of this business," said Ryan Schneider, CEO and President, Realogy.
About Title Resources Group (TRG)
Title Resources Group – the underwriter built for the real estate industry – is one of the nation's largest title insurance underwriters, according to the American Land Title Association's 2021 market share data. A joint venture with Centerbridge Partners, L.P. and Realogy Holdings Corp., TRG serves title insurance agents in 37 states and the District of Columbia. With $163 million in liquid assets at year-end 2021, its financial strength and stability are rated A' (Unsurpassed) by Demotech, Inc., and B++ (Good) by AM Best Rating Services, and since its inception, the company has consistently operated profitably without a net operating loss in any fiscal year. With a mission to provide knowledgeable and responsive underwriting solutions, TRG is dedicated to growing lifelong relationships and maintaining quality through integrity and financial stability. For more information, please visit www.titleresources.com.
About HomeServices of America
HomeServices of America, Inc., through its operating companies, is the nation's largest residential real estate company based on closed transactions and is a premier provider of homeownership services, including brokerage, mortgage, franchising, settlement, property and casualty insurance, relocation services and more. HomeServices of America is the owner of the Berkshire Hathaway HomeServices and Real Living Real Estate residential real estate franchise networks. HomeServices is owned by Berkshire Hathaway Energy, a consolidated subsidiary of Berkshire Hathaway Inc. For more information visit www.homeservices.com.
About Centerbridge Partners, L.P.
Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines — private equity, credit and real estate — in an effort to develop the most attractive opportunities for our investors. The Firm was founded in 2005 and as of February 28, 2022 has approximately $33 billion in capital under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies. For more information, please visit www.centerbridge.com.
About Realogy Holdings Corp.
Realogy (NYSE: RLGY) is moving the real estate industry to what's next. As the leading and most integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, Realogy supported approximately 1.5 million home transactions in 2021. The company's diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of its approximately 196,700 independent sales agents in the U.S. and approximately 136,700 independent sales agents in 118 other countries and territories, helping them build stronger businesses and best serve today's consumers. Recognized for eleven consecutive years as one of the World's Most Ethical Companies, Realogy has also been designated a Great Place to Work four years in a row, named one of LinkedIn's 2022 Top Companies in the U.S., and honored on the Forbes list of World's Best Employers 2021. For more information, please visit www.realogy.com.
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SOURCE Title Resources Group | https://www.whsv.com/prnewswire/2022/05/03/homeservices-america-acquires-ownership-stake-title-resources-group/ | 2022-05-04T00:22:03Z |
NASHVILLE, Tenn., May 3, 2022 /PRNewswire/ -- Nominations for the 2022 American Association for Justice (AAJ) Paralegal of the Year Award are now open. We are proud to sponsor this prestigious award that recognizes the key role paralegals play in our civil justice system.
The AAJ Paralegal of the Year Award, sponsored by Advocate Capital, Inc., is granted to one exceptional individual who consistently makes contributions to the paralegal profession and acts as an inspiration to other paralegals through their knowledge of the law, perseverance in cases, and superior skill set. The ideal candidate must demonstrate a commitment to continuing legal education and their community through volunteering.
Any AAJ Paralegal Affiliate who has been a member for a minimum of one year is eligible to receive the 2022 Paralegal of the Year Award, but they must be nominated by another AAJ Paralegal Affiliate or an AAJ Attorney member in good standing. If you have someone you would like to nominate; please submit a completed entry form to Jennifer Rafter at Jennifer.Rafter@Justice.org. Entries will be accepted through Friday, May 26, 2022.
To download the 2022 Paralegal of the Year Award nomination form, click here.
The winner of the 2022 Paralegal of the Year Award will be notified on June 6, 2022, and will receive the award at AAJ's 2022 Annual Convention on July 16-19th in Seattle, Washington. Complimentary airfare, hotel accommodations, and registration will be provided.
Advocate Capital, Inc. is the premier provider of strategic financial products and accounting services for successful trial law firms. It has served the plaintiff bar for over 22 years from its headquarters in Nashville, TN, and enjoys a client base that extends nationwide. For more information, visit www.AdvocateCapital.com or call 1.877.894.9724.
CONTACT:
Rachel Minyard
Advocate Capital, Inc.,
advocatecapital.com/rachel-minyard.html
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SOURCE Advocate Capital, Inc. | https://www.whsv.com/prnewswire/2022/05/03/nominations-open-2022-aaj-paralegal-year-award-sponsored-by-advocate-capital-inc/ | 2022-05-04T00:22:11Z |
The long-awaited fully tuneable colour on a single pixel achieves a new industry milestone
CAMBRIDGE, England, May 3, 2022 /PRNewswire/ -- Porotech, a pioneer in micro-LED and GaN-based semiconductor material technology, will be unveiling DynamicPixelTuning™ on its PoroGaN® microdisplay platform at the Display Week event in California next week. The breakthrough makes it possible to create full-colour or tuneable-colour displays using identical pixels from a single wafer – achieving colour uniformity, while eliminating complex fabrication processes.
The innovation is set to accelerate the commercialisation of micro-LEDs, mini-LEDs and LEDs to deliver next-generation display products for AR/MR/VR applications, smart wearable devices, smart displays and large-scale direct view displays.
Porotech is the first in the world to unlock dynamic colour tuning of LED chips and pixels. Its PoroGaN platform makes it possible for each individual tiny LED on an epiwafer to emit all colours of the visible spectrum.
At this stage, the Porotech proof-of-concept displays are tuneable monocolour, with uniform brightness and colour for display products in the micro (µm) and nano (nm) pixel space. But the company's proprietary PoroGaN platform and Dynamic Pixel technology are paving the way to a monolithic full-colour RGB display very soon.
The PoroGaN platform also enables a one-step wafer-to-wafer bonding process – removing key manufacturing barriers for full and tuneable colour microdisplay fabrication, thereby increasing yields and reducing production costs and time to market.
"We have revolutionised GaN-based semiconductor materials and structures, which underpins our breakthrough of realising all colours on a single pixel across the full spectrum," said Porotech CEO and co-founder Dr Tongtong Zhu. "PoroGaN's wavelength-agnostic optoelectronic properties also simplify electronic and optoelectronic system design integration."
Micro-LED and mini-LED display fabrication remains challenging due to the multi-phase processes currently required to manipulate elements at the micro and nano scale. "With Porotech's porous GaN technology and scalable architectures, the PoroGaN platform significantly simplifies the mass-transfer or pick-and-place process," said Dr Zhu.
"In the case of microdisplays, it eliminates the need for transfer by allowing wafer-scale bonding of epiwafer to backplane in a single step. The simplification of the process delivers high efficiency and high yield solutions, leapfrogging full-colour micro-LED and mini-LED displays as viable mass-market products for next-generation display applications."
The PoroGaN platform is configurable to LED epiwafers for both micro-LED and mini-LED chip processing. Other configurations include chip-on-wafer, chip-on-tape and tuneable material platforms.
Porotech will be demonstrating its revolutionary technology at stand R23 in the I-Zone section of Display Week 2022 at the San Jose Convention Center in San Jose, California, US on 10-12 May. Dr Zhu is also among the speakers at the event's Business Conference on 9 May.
Notes for editors
Porotech is a micro-LED pioneer and global gallium nitride (GaN) material technology developer, headquartered in Cambridge (UK), with offices in Hsinchu (Taiwan) and Chandler, Arizona (USA). Focused on next-generation display applications, Porotech's game-changing PoroGaN® technology platform enables ultra-small and efficient micro-LED chips which can emit all colours of the visible spectrum with a single GaN material system. For more information, visit: www.porotech.com
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SOURCE Porotech | https://www.whsv.com/prnewswire/2022/05/03/porotech-unlocks-world-first-micro-led-dynamic-pixel-tuning/ | 2022-05-04T00:22:18Z |
- First quarter 2022 net loss of $5 thousand, adjusted EBITDA of $56.8 million and cash flow available for distributions ("Distributable Cash Flow" or "DCF") of $31.8 million
- Generated significant free cash flow in Q1 2022, reducing total debt by $34 million
- 21% increase in crude oil volumes relative to Q4 2021, due to strong performance from 25 wells brought online over the past two quarters
- In January 2022, completed Series A Preferred exchange offer, resulting in an aggregate reduction in Series A Preferred face value of 78% since July of 2020
- Revised 2022 Adjusted EBITDA guidance range of $205 million to $220 million, an increase of $5 million relative to the midpoint of SMLP's initial guidance range
- Updated 2022 well connect guidance range includes 30 to 40 incremental well connects in the second half of 2022, represents a nearly 40% increase in customer activity levels assumed in SMLP's initial full year 2022 guidance range provided in February
- Increased the lower end of SMLP's initial 2022 adjusted EBITDA guidance by $10 million, establishing a new 2022 adjusted EBITDA guidance range of $205 million to $220 million
HOUSTON, May 3, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit", "SMLP" or the "Partnership") announced today its financial and operating results for the three months ended March 31, 2022, including a net loss of $5 thousand, adjusted EBITDA of $56.8 million and DCF of $31.8 million. Operated natural gas throughput from wholly owned assets averaged 1,306 million cubic feet per day ("MMcf/d") and liquids throughput averaged 65 thousand barrels per day ("Mbbl/d"). Total quarterly natural gas gathering volume throughput, including SMLP's proportionate share from OGC, was up by 24 MMcf/d relative to the fourth quarter of 2021, primarily because of strong performance from wells that were connected near the end of calendar 2021, including 8 wells turned-in-line behind SMLP's wholly owned and operated assets and 3 wells connected behind OGC. First quarter 2022 liquids volume increased by 3 Mbbl/d, or 4.8% relative to the fourth quarter of 2021 due to the impacts from 25 new wells that were connected over the past two quarters. We estimate that operational and weather-related interruptions impacted liquids volumes by 2 Mbbl/d to 3 Mbbl/d during the quarter.
Heath Deneke, President, Chief Executive Officer and Chairman, commented, "Summit's first quarter 2022 financial and operating results were ahead of internal expectations, driven by strong performance from recent wells turned in line and lower than anticipated operating expenses for the quarter. Industry fundamentals have continued to improve as indicated by a 17% increase in WTI futures and 29% increase in Henry Hub futures, along with an approximate 20% increase in US Rig count since the beginning of the year. At Summit, our most recent producer guidance now includes an additional 30 to 40 well connections in the second half of 2022 relative to our original guidance range, with most of this new activity occurring in the Williston and Barnett basins. As a result, SMLP is increasing its 2022 Adjusted EBITDA guidance to a new range of $205 to $220 million. Given the anticipated timing of these incremental wells, we except this activity will mostly impact our fourth quarter results in 2022 and will also help build momentum as we head into 2023. We believe that this increase in activity levels signal that producers are beginning to build confidence in fundamentals that support the back end of the forward price curves, which we believe is a key catalyst for commencing reinvestment for growth into the future. We are actively working with our customers to evaluate further price response drilling activities in late 2022 and early 2023 across many of the basins we operate in and will continue to provide updates throughout the year as these plans further develop."
"We continue to be encouraged by recent pick-up in producer activity and overall well results in the Williston, which is highlighted by the 21% quarter over quarter growth in crude oil volumes. In the Barnett, we had 3 new wells brought online behind our system at the end of April that are producing more than 7 MMcf/d each, which exceeded our internal expectations. Based on updated producer guidance, we expect an incremental 5 to 9 well connections in the Barnett for the remainder of 2022. There are also over 20 recently issued permits behind the Barnett system that provide a strong leading indicator for potential additional activity in late 2022 and 2023 in the segment."
"While the level of expected well connect activity in 2022 for the Northeast Segment hasn't changed since the beginning of the year, we continue to be impressed with recent well results. Between OGC and our wholly-owned SMU system, there were 7 new wells that came online late in the fourth quarter of 2021 that produced over 200 MMcf/d (gross) in the first quarter of 2022. We are also excited about potential upstream M&A activity in the Utica region, which could be a very strong catalyst for incremental development behind our systems in the coming years."
"Producer activity remains very strong in New Mexico with approximately 95 rigs currently running in Eddy and Lea counties, which are the key supply catchment areas for the Double E pipeline. At the current level of rig activity, our projections indicate that existing residue gas takeaway capacity out of New Mexico will become constrained in late 2023 to early 2024 timeframe. Our team is advancing commercial discussions with multiple counterparties to secure incremental contracts to help fill up the remainder of our current 1.35 Bcf/d of Double E capacity. Furthermore, given the projected tightening of gas pipeline takeaway capacity out of New Mexico, we are advancing plans to potentially expand Double E to approximately 2.0 Bcf/d via a timely and cost-effective midpoint compression expansion project. We believe Double E is very well positioned to meet the growing needs for incremental gas takeaway capacity out of New Mexico while providing customers access to highly desirable Gulf Coast markets via existing and planned downstream pipelines originating out of Waha, TX."
First Quarter 2022 Business Highlights
In the first quarter of 2022, SMLP's average daily natural gas throughput for its wholly owned operated systems decreased by 1 MMcf/d to 1306 MMcf/d, and liquids volumes increased by 4.8% to 65 Mbbl/d, relative to the fourth quarter of 2021. Double E Pipeline transported an average of 187 MMcf/d of gross volumes and generated $3.2 million of adjusted EBITDA net to SMLP for the first quarter of 2022. SMLP's customers are currently operating seven drilling rigs on acreage behind SMLP's gathering systems and have approximately 39 wells that have been drilled and are expected to be turned in line later this year.
Natural gas price driven segments:
- Natural gas price driven segments had combined quarterly segment adjusted EBITDA of $45.1 million and combined capital expenditures of $4.6 million in the first quarter of 2022.
- Northeast segment adjusted EBITDA of $20.1 million increased by $1.1 million from the fourth quarter of 2021, primarily due to a 4.4% increase in volume on our wholly owned systems and 12.9% increase in volume at our Ohio Gathering Joint Venture. Volume growth was primarily driven by 4 new wells that were brought online behind our wholly-owned SMU system. These wells have produced over 100 MMcf/d since early December. We generally expect these wells to hold flat for 4 to 6 months before they begin declining. There were 3 new wet gas wells that came online in late fourth quarter 2021 behind our OGC joint venture that also produced over 100 MMcf/d during the quarter, in addition to 2 lower volume condensate wells that were connected during the quarter. There are currently no DUCs behind our wholly-owned system and 14 DUCs behind the OGC system. We are optimistic about activity given current and expected natural gas prices and the productivity of wells in the region.
- Piceance segment adjusted EBITDA of $15.8 million was generally in line with the fourth quarter of 2021. Volume throughput decreased 5 MMcf/d, or 1.6%, primarily due to natural production declines, partially offset by volume from a new 9-well pad that was turned-in line in October 2021. No new wells were connected during the quarter. We still expect 17 permitted wells to be turned-in-line by one of our anchor customers in the latter half of 2022.
- Barnett segment adjusted EBITDA of $9.3 million decreased by $0.9 million relative to the fourth quarter of 2021 primarily due to a 25 MMcf/d volume throughput decrease to 197 MMcf/d as a result of natural production declines. The new 7 well pad that was connected in the third quarter of 2021 averaged 32.6 MMcf/d during Q1 2022, a 14.6 MMcf/d decrease from Q4 2021, accounting for nearly 60% of the quarterly volume throughput decline in the segment. There were 4 new wells connected to the system at the end of April 2022 and there is currently 1 DUC behind the system. Based on permitting activity, rig activity and updated producer guidance, we now expect 8 to 12 total well connections in 2022, which should result in segment adjusted EBITDA at or above the high end of our original segment guidance range of $26 million to $28 million.
Oil price driven segments
- Oil price driven segments generated $20.0 million of combined segment adjusted EBITDA in the first quarter of 2022 and had combined capital expenditures of $3.7 million.
- Permian segment adjusted EBITDA of $4.2 million increased $1.6 million relative to the fourth quarter of 2021, primarily due to the first quarter of 2022 being the first full quarter of contribution from Double E. Volumes on our wholly-owned system increased 3 MMcf/d relative to the fourth quarter of 2021, primarily due to an increase in offload volumes and a 4-well pad that was directly connected to the system. Double E gross volume throughput averaged 187 MMcf/d during the first quarter of 2022, an increase of 131 MMcf/d relative to the prior quarter.
- Rockies segment adjusted EBITDA of $15.8 million increased $0.9 million relative to the fourth quarter of 2021, primarily due to approximately $2.0 million reduction in operating expenses and a 21.2% increase in crude oil volumes. There were 25 crude oil wells connected to the system over the past two quarters, with 16 in 2021 and 9 in the first quarter of 2022. Results were partially offset by a 12.9% decrease in produced water volume and a 14.7% decrease in natural gas volume. There were several operational and weather-related interruptions that impacted volumes for the quarter. We estimate that these interruptions reduced liquids volumes by approximately 2.0 Mbbl/d to 3.0 Mbbl/d and natural gas volumes by approximately 0.6 MMcf/d to 0.8 MMcf/d. We estimate that this impacted gross margin by approximately $0.4 to $0.6 million during the quarter. While we continue to experience some of these interruptions thus far, we would expect them to be fully resolved by the end of the second quarter of 2022. We remain very encouraged by the commodity price environment and recent updated customer plans regarding additional wells on the system. There are 19 DUCs behind the system and based on updated producer guidance, we now expect approximately 45 – 65 new wells on the system for 2022 versus our original guidance range of 20 – 30 new wells. As a result of this incremental activity, we now expect to trend toward the high end of our Adjusted EBITDA segment guidance range of $53 million to $57 million.
The following table presents average daily throughput by reportable segment for the periods indicated:
The following table presents adjusted EBITDA by reportable segment for the periods indicated:
Capital Expenditures
Capital expenditures totaled $8.7 million in the first quarter of 2022, inclusive of maintenance capital expenditures of $2.9 million. Capital expenditures in the first quarter of 2022 were primarily related to growth projects to connect new pad sites in our Northeast, Rockies and Permian segments.
Capital & Liquidity
As of March 31, 2022, SMLP had $233 million drawn under its $400 million ABL Revolver and $148.6 million of borrowing availability, after accounting for $18.4 million of issued, but undrawn letters of credit. As of March 31, 2022, SMLP's gross availability based on the borrowing base calculation in the credit agreement was $695 million, which is $295 million greater than the $400 million of lender commitments to the ABL Revolver. As of March 31, 2022 SMLP was in compliance with all financial covenants, including interest coverage of 2.7x relative to a minimum interest coverage covenant of 2.0x and first lien leverage ratio of 1.0x relative to a maximum first lien leverage ratio of 2.5x. As of March 31, 2022, SMLP reported a total leverage ratio of 5.12x.
As of March 31, 2022, the Permian Transmission Credit Facility balance was $158.9 million, a reduction of $1.1 million relative to December 31, 2021 due to the commencement of mandatory amortization in March of 2022. The Permian Transmission Term Loan remains non-recourse to SMLP.
MVC Shortfall Payments
SMLP billed its customers $7.9 million in the first quarter of 2022 related to MVC shortfalls. For those customers that do not have MVC shortfall credit banking mechanisms in their gathering agreements, the MVC shortfall payments are accounted for as gathering revenue in the period in which they are earned. In the first quarter of 2022, SMLP recognized $10.2 million of gathering revenue associated with MVC shortfall payments. SMLP had no adjustments to MVC shortfall payments in the first quarter of 2022. SMLP's MVC shortfall payment mechanisms contributed $10.2 million of total adjusted EBITDA in the first quarter of 2022.
Quarterly Distribution
The board of directors of SMLP's general partner continued to suspend cash distributions payable on its common units and on its 9.50% Series A fixed-to-floating rate cumulative redeemable perpetual preferred units (the "Series A Preferred Units") for the period ended March 31, 2022. Unpaid distributions on the Series A Preferred Units will continue to accumulate.
First Quarter 2022 Earnings Call Information
SMLP will host a conference call at 10:00 a.m. Eastern on Wednesday, May 4, 2022, to discuss its quarterly operating and financial results. Interested parties may participate in the call by dialing 404-400-0571 or toll-free 866-374-5140 and entering the passcode 73884207. The conference call, live webcast and archive of the call can be accessed through the Investors section of SMLP's website at www.summitmidstream.com.
Use of Non-GAAP Financial Measures
We report financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). We also present adjusted EBITDA and Distributable Cash Flow, non-GAAP financial measures.
Adjusted EBITDA
We define adjusted EBITDA as net income or loss, plus interest expense, income tax expense, depreciation and amortization, our proportional adjusted EBITDA for equity method investees, adjustments related to MVC shortfall payments, adjustments related to capital reimbursement activity, unit-based and noncash compensation, impairments, items of income or loss that we characterize as unrepresentative of our ongoing operations and other noncash expenses or losses, income tax benefit, income (loss) from equity method investees and other noncash income or gains. Because adjusted EBITDA may be defined differently by other entities in our industry, our definition of this non-GAAP financial measure may not be comparable to similarly titled measures of other entities, thereby diminishing its utility.
Management uses adjusted EBITDA in making financial, operating and planning decisions and in evaluating our financial performance. Furthermore, management believes that adjusted EBITDA may provide external users of our financial statements, such as investors, commercial banks, research analysts and others, with additional meaningful comparisons between current results and results of prior periods as they are expected to be reflective of our core ongoing business.
Adjusted EBITDA is used as a supplemental financial measure to assess:
- the ability of our assets to generate cash sufficient to make future potential cash distributions and support our indebtedness;
- the financial performance of our assets without regard to financing methods, capital structure or historical cost basis;
- our operating performance and return on capital as compared to those of other entities in the midstream energy sector, without regard to financing or capital structure;
- the attractiveness of capital projects and acquisitions and the overall rates of return on alternative investment opportunities; and
- the financial performance of our assets without regard to (i) income or loss from equity method investees, (ii) the impact of the timing of minimum volume commitments shortfall payments under our gathering agreements or (iii) the timing of impairments or other income or expense items that we characterize as unrepresentative of our ongoing operations.
Adjusted EBITDA has limitations as an analytical tool and investors should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. For example:
- certain items excluded from adjusted EBITDA are significant components in understanding and assessing an entity's financial performance, such as an entity's cost of capital and tax structure;
- adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments;
- adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; and
- although depreciation and amortization are noncash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements.
We compensate for the limitations of adjusted EBITDA as an analytical tool by reviewing the comparable GAAP financial measures, understanding the differences between the financial measures and incorporating these data points into our decision-making process.
Distributable Cash Flow
We define Distributable Cash Flow as adjusted EBITDA, as defined above, less cash interest paid, cash paid for taxes, net interest expense accrued and paid on the senior notes, and maintenance capital expenditures.
We do not provide the GAAP financial measures of net income or loss or net cash provided by operating activities on a forward-looking basis because we are unable to predict, without unreasonable effort, certain components thereof including, but not limited to, (i) income or loss from equity method investees and (ii) asset impairments. These items are inherently uncertain and depend on various factors, many of which are beyond our control. As such, any associated estimate and its impact on our GAAP performance and cash flow measures could vary materially based on a variety of acceptable management assumptions.
About Summit Midstream Partners, LP
SMLP is a value-driven limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in the continental United States. SMLP provides natural gas, crude oil and produced water gathering, processing and transportation services pursuant to primarily long-term, fee-based agreements with customers and counterparties in six unconventional resource basins: (i) the Appalachian Basin, which includes the Utica and Marcellus shale formations in Ohio and West Virginia; (ii) the Williston Basin, which includes the Bakken and Three Forks shale formations in North Dakota; (iii) the Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in Colorado and Wyoming; (iv) the Permian Basin, which includes the Bone Spring and Wolfcamp formations in New Mexico; (v) the Fort Worth Basin, which includes the Barnett Shale formation in Texas; and (vi) the Piceance Basin, which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado. SMLP has an equity method investment in Double E Pipeline, LLC, which provides interstate natural gas transportation service from multiple receipt points in the Delaware Basin to various delivery points in and around the Waha Hub in Texas. SMLP also has an equity method investment in Ohio Gathering, which operates extensive natural gas gathering and condensate stabilization infrastructure in the Utica Shale in Ohio. SMLP is headquartered in Houston, Texas.
Forward-Looking Statements
This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements and may contain the words "expect," "intend," "plan," "anticipate," "estimate," "believe," "will be," "will continue," "will likely result," and similar expressions, or future conditional verbs such as "may," "will," "should," "would," and "could." In addition, any statement concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies and possible actions taken by us or our subsidiaries are also forward-looking statements. Forward-looking statements also contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management's control) that may cause SMLP's actual results in future periods to differ materially from anticipated or projected results. An extensive list of specific material risks and uncertainties affecting SMLP is contained in its 2021 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 28, 2022, as amended and updated from time to time. Any forward-looking statements in this press release are made as of the date of this press release and SMLP undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.
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Expands Universal Technical Institute, Inc.'s career-focused education brand portfolio into certificate, credential, and degree-granting healthcare programs.
- Concorde offers over 20 programs across the Allied Health, Dental, Nursing, Patient Care, and Diagnostic fields.
- Concorde ended 2021 with approximately 7,400 students and delivered approximately $180 million in revenue and $13 million in adjusted EBITDA for the year.
- Aligned with Universal Technical Institute's growth and diversification strategy, which is focused on offering a broader array of high-quality, in-demand workforce solutions which both prepare students for a variety of careers in fast-growing fields and help close the country's skills gap by leveraging key industry partnerships.
- Including the acquisition, Universal Technical Institute's revised longer term strategic roadmap now estimates fiscal 2025 revenue of more than $700 million and adjusted EBITDA margin of approximately 20%.
PHOENIX, May 3, 2022 /PRNewswire/ -- Universal Technical Institute, Inc. (NYSE: UTI), a leading provider of transportation and technical training programs, has entered into a definitive agreement to acquire Concorde Career Colleges, Inc. from Liberty Partners LLC. Terms of the transaction have been disclosed in Universal Technical Institute's Form 8-K and completion of the acquisition will occur pending customary closing conditions and regulatory approvals. The boards of directors of both companies have unanimously approved the agreement.
Concorde Career Colleges is a leading provider of healthcare education programs focused on preparing students for successful professions in the healthcare sector, which is expected to add about 2.6 million new jobs over the next decade due to attrition in the workforce along with an aging population that is expected to drive increased demand for healthcare services.1 The company offers diploma and degree programs across nursing, dental hygiene, and other direct patient care fields including physical therapy assistant and respiratory therapy, as well as allied health including medical and dental assisting and healthcare administration.
Concorde was founded in 1968 and currently serves approximately 7,400 students through its 17 campuses in 8 states. Concorde's revenue and adjusted EBITDA for calendar 2021 were approximately $180 million and $13 million, respectively. The schools operated by Concorde Career Colleges are accredited by either the Accrediting Commission of Career Schools and Colleges (ACCSC) or the Council on Occupational Education (COE).
"The acquisition of Concorde Career Colleges will be a significant next step in our previously announced growth and diversification strategy," said Universal Technical Institute CEO Jerome Grant. "We take the responsibility of becoming one of this country's leading workforce solutions providers seriously, and entering the healthcare space allows us to help even more students and support employers as they seek to solve some of their toughest workforce-related challenges. Concorde's programs, geographic footprint, solid leadership team, exemplary faculty and staff, diverse student body, tight industry alignment, and strong alumni network make this acquisition a great fit. I also look forward to welcoming Jami Frazier and her talented team to the company. Under Jami's leadership, UTI's first step into healthcare will serve as a solid cornerstone for some of our key future growth and diversification efforts."
With the addition of the Concorde brand and its portfolio of programs and campuses, Universal Technical Institute will significantly expand upon its already announced growth and diversification plans. In fiscal 2022, Universal Technical Institute completed the acquisition of MIAT College of Technology, which brought 2 campuses and 8 unique programs. Additionally, Universal Technical Institute is opening new campuses in Miramar, Florida., and Austin, Texas and is further expanding its welding programs to 2 additional locations during the fiscal year. Upon completion of the Concorde acquisition, the company will serve over 20,000 students across 14 states and 312 locations. Once completed, the acquisition will add Concorde Career Colleges to Universal Technical Institute, Inc.'s brand family, which currently includes Universal Technical Institute, Motorcycle Mechanics Institute, Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology.
"Universal Technical Institute's brands have a great reputation with both employers and students in transportation and skilled trades. Concorde Career Colleges has a strong reputation in healthcare education, making this an excellent combination for addressing the nation's skills gap," said Concorde CEO Jami Frazier. "I am looking forward to the opportunity to join this organization and become one of the preeminent educational providers in the country."
"We are excited about the opportunity to add Concorde and their healthcare programs to the Universal Technical Institute portfolio," said Universal Technical Institute's CFO Troy Anderson. "The $50 million purchase price provides a compelling enterprise value to adjusted EBITDA multiple and an opportunity to significantly increase our shareholder value. With the addition of Concorde and the broadening of our program offerings, we will accelerate Universal Technical Institute's revenue, profitability, and cash flow growth over the next several years. We expect the transaction to close during the first half of fiscal 2023, subject to regulatory approvals and other customary closing conditions."
Universal Technical Institute will post an updated presentation regarding its growth and diversification strategy on its investor relations website. The company will provide further commentary on the Concorde acquisition during the Second Quarter Fiscal Year 2022 Results conference call it will be hosting tomorrow at 4:30 pm Eastern Daylight Time.
Non-GAAP Measures
For internal reporting purposes, Concorde defines adjusted EBITDA as net income (loss) before interest expense, interest income, income taxes, depreciation, amortization and adjusted for items not considered part of the company's normal recurring operations. Adjusted EBITDA is a non-GAAP financial measure which is provided to supplement, but not substitute for, the most directly comparable GAAP measure. We choose to disclose this non-GAAP financial measure for Concorde because it provides an additional performance measure. Universal Technical Institute defines estimated adjusted EBITDA margin as estimated adjusted EBITDA over estimated revenue. Since the items excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these measures should not be considered to be an alternative to net income (loss) or any other measures derived in accordance with GAAP as a measure of operating performance or profitability.
Founded in 1965 and headquartered in Phoenix, Universal Technical Institute's (NYSE: UTI) mission is to serve our students, partners, and communities by providing quality education and support services for in-demand careers. Approximately 250,000 students have graduated from one of Universal Technical Institute's 14 campuses located across Arizona, California, Florida, Illinois, Michigan, North Carolina, Pennsylvania, New Jersey, and Texas. Universal Technical Institute's campuses are accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC), while its employer-aligned technical training programs are offered under four brands: Universal Technical Institute, Motorcycle Mechanics Institute / Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology. The company is headquartered in Phoenix, Arizona. For more information, visit www.uti.edu, or follow on LinkedIn @UniversalTechnicalInstitute and on Twitter @news_UTI.
Concorde Career Colleges operates 17 campuses across eight states under the brands Concorde Career College and Concorde Career Institute, focused on preparing America's next generation of health care and dental professionals for rewarding careers. The Concorde Career Colleges blended education model combines online coursework with in-person lab classes and clinical experiences. Concorde Career Colleges' 20 student-focused academic programs and personalized support prepare graduates for in-demand careers in nursing, dental, respiratory, diagnostic, and other health care roles. The schools operated by Concorde Career Colleges are accredited by either the Accrediting Commission of Career Schools and Colleges (ACCSC) or the Council on Occupational Education (COE).
Forward-Looking Statements
All statements contained in this press release, other than statements of historical fact, are "forward-looking" statements within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These forward-looking statements which address Universal Technical Institute, Inc.'s ("UTI") expected future business and financial performance may contain words such as "goal," "target," "future," "estimate," "expect," "anticipate," "intend," "plan," "believe," "seek," "project," "may," "should," "will," the negative form of these expressions or similar expressions. Examples of forward-looking statements include, among others, statements regarding (1) UTI's belief that the acquisition will serve as a cornerstone for its key future growth and diversification efforts; (2) UTI's ability to integrate Concorde's healthcare programs into its portfolio of educational offerings; (3) UTI's anticipated expansion efforts; (4) UTI's expectation of increasing shareholder value; and (5) UTI's expectation of accelerating its revenue, profitability and cash flow over the next several years. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on UTI's current beliefs, expectations, and assumptions regarding the future of its 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 UTI's control. UTI's 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 affect UTI's actual results include, among other things, changes to federal and state educational funding, changes to regulations or agency interpretation of such regulations affecting the for-profit education industry, possible failure or inability to obtain regulatory consents and certifications for new or modified campuses or instruction, potential increased competition, impacts related to the COVID-19 pandemic, changes in demand for the programs UTI offers, increased investment in management and capital resources, the effectiveness of UTI student recruiting, advertising and promotional efforts, changes to interest rates and unemployment, general economic and political conditions, the adoption of new accounting standards, and other risks that are described from time to time in UTI's public filings. Further information on these and other potential factors that could affect the financial results or condition may be found in the company's filings with the SEC. Any forward-looking statements made by UTI in this press release are based only on information currently available to UTI and speak only as of the date on which it is made. UTI expressly disclaims any obligation to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, changes in expectations, any changes in events, conditions, or circumstances, or otherwise.
1 Source: U.S. Bureau of Labor Statistics, https://www.bls.gov/ooh/healthcare/home.htm, viewed May 2, 2022.
2 Encompasses 12 UTI campuses, 2 MIAT campuses, and 17 Concorde campuses post-close.
Media Contact
avitucci@uti.edu
480.710.6843
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IRVINE, Calif., May 3, 2022 /PRNewswire/ -- President Biden recognized May as Motorcycle Safety Awareness Month in a letter from the White House that acknowledged the millions of Americans who ride, and that "A motorcycle offers freedom, recreation, and the opportunity to explore our great Nation coast-to-coast."
"My Administration remains committed to ensuring the safety of everyone who rides a motorcycle and all who travel across our Nation," Biden wrote in the letter dated May 1, underscoring the importance of personal protective gear for motorcyclists, obeying traffic laws, riding alcohol- and drug-free, and for motorists to drive safely, be aware of motorcyclists, and to share the road. "All of us who travel America's roads have an important role in securing a safe motorcycle-riding environment."
"We thank President Biden, Secretary Pete Buttigieg, and the Department of Transportation for helping to raise awareness of motorcyclists and motorcycle safety," said Erik Pritchard, president and CEO of the Motorcycle Safety Foundation. "On behalf of motorcyclists across the country, we are grateful for the funding contained in the Bipartisan Infrastructure Law to modernize the highways, roads, and bridges."
More riders are anticipated to be on the roads this year. Sales of motorcycles and scooters rose 14.2% in 2021, the second consecutive year of growth, according to the Motorcycle Industry Council Retail Sales Reporting System, which gathers new motorcycle and scooter retail sales data from 14 leading manufacturers and distributors in the U.S.
"The Motorcycle Safety Foundation has worked closely with the Department of Transportation and the Biden administration to bring issues facing motorcyclists to the forefront," said Scott Schloegel, senior vice president of government relations for MSF. "This administration has placed a priority on reducing highway deaths and on educating the motoring public, and we appreciate that this presidential recognition is one of many ways they are working to accomplish that goal."
More tips for riders and drivers are available at the Motorcycle Safety Foundation's websites: msf-usa.org and forcardrivers.com. Users can also test their perception and knowledge with timed challenges and quizzes. (https://www.msf-usa.org/RiderPerception.aspx)
The Motorcycle Safety Foundation, the country's leading safety resource and advocate for motorcyclists, creates education and training systems for riders of every experience level. For those looking to get into riding, formal motorcycle training, such as the Motorcycle Safety Foundation's Basic RiderCourse, is among the best ways to learn. The MSF also offers refresher courses and advanced skills courses for experienced riders.
ABOUT THE MOTORCYCLE SAFETY FOUNDATION
The Motorcycle Safety Foundation promotes safety through rider training and education, operator licensing tests, and public information programs. MSF works with the federal government, state agencies, the military, and others to offer training for all skill levels so riders can enjoy a lifetime of safe, responsible motorcycling. Standards established by MSF have been recognized worldwide since 1973. The MSF is a not-for-profit organization endorsed by American Honda Motor Co., Inc.; BMW Motorrad USA; BRP, Inc.; Harley-Davidson Motor Company, Inc.; Indian Motorcycle; Kawasaki Motors Corp., U.S.A.; KTM North America, Inc.; Suzuki Motor USA, LLC; Triumph Motorcycles America; and Yamaha Motor Corporation, U.S.A. For safety information or to enroll in an MSF Basic RiderCourse near you, or to learn more about the many other MSF course offerings, visit MSF-USA.org or call (800) 446-9227.
Follow @msf__usa to keep up with the MSF on Twitter, Facebook, and Instagram.
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Mari’s Gardens has been growing sustainable produce since 2010. They provide fresh, quality ingredients not only to the community, but also to local chefs and restaurants. Owner, Fred Lau shared, “We plant, harvest, and replant immediately... the day we harvest is the day we plant.”
At Mari’s Gardens, you can buy their locally-grown produce and also find rows of aquaponics and greenhouses. Fred feels it's important to promote sustainability and to support local farmers. “Teaching our children to be sustainable is happening already. Now we have a new generation of chefs that promote organic and healthy and local, and all of those things are important.” They help contribute to this mission by the different ingredients they grow.
In one of the greenhouses, we got to see seedlings that had just been planted. “We will grow the seedlings in the trays for two to three weeks and then they get put out onto these channels and they sit here for another three to four weeks. We’re pumping the water with nutrients to the channels...”
We got to hear from Mililani native, Hunter Gentry, who is currently working as a Chef at the Greenbrier, an award-winning luxury resort in West Virginia. From a chef’s perspective, he suggested one way to practice sustainability is to “use one product for multiple uses” and to “talk to farmers.” This helps them to “grow what we need, and grow only what we need, so that way we focus on less food waste.”
Mari’s Gardens has a wide variety of produce from beets, lettuce, oranges and more. Chef Hunter crafted us a dish using local products fresh from Mari's. He plated fresh lettuce, braised beets, radish slices, Cara Cara oranges, and a delicious lilikoi dressing. It was a delicious salad that was colorful, and most importantly, fresh!
Fred emphasized that local ingredients make all the difference! The small act of using local ingredients can not only take your dish to the next level, but is ultimately contributing to a more sustainable and healthier Hawaii.
To create your own dish with locally grown ingredients, visit: marisgardens.com
Interested in featuring your business or organization? Email IslandLife@kitv.com
As Miss Hawaii 2019 & 2020, Nikki was a representative for the Aloha State and was highly involved with the community as she promoted the importance of service. Nikki is the host of KITV's entertainment and culture platform, ISLAND LIFE. | https://www.kitv.com/island-life/food/sustainable-farming-for-hawaii-s-future-with-mari-s-gardens/article_d9a09954-cb29-11ec-9e37-5f4518659d69.html | 2022-05-04T00:54:23Z |
HONOLULU (KITV4) -- The right life insurance can help protect the people who depend on you the most if you pass away. And it covers a lot more than a person's funeral or cremation. Life insurance can pay you when you're still alive. All of this can bring you a peace of mind to help you in Aging Well.
We all know the younger you are when you apply for life insurance, the more likely you'll qualify for affordable premiums based on your good health.
"Ideally, people should consider life insurance as early as possible. Premiums are tied to how old you are and stage of health," said Independent life insurance broker Wayne Akiyama.
But the Mililani insurance agent says it's never too late to buy a life insurance policy for yourself.
"The best time to look at life insurance is right now. If you don't have it now, it's not going to get any cheaper," Akiyama said.
And if you think you have a policy, make sure it's not through work. When your leave that job, it's gone.
Akiyama says people don't want to leave a legacy after they die, so what does life insurance cover?
"Final expenses like burial and cremation; kids need to go to college; and you want to make sure your partner can cover any bills like mortage, and can retire," he detailed.
Life insurance can even give you benefits when you're still alive.
"Some policies have a critical illness rider. If you have a stroke, heart attack, cancer - they'll pay a lump sum from the life insurance policy and you can take care of your bills from that," Akiyama said.
Similarly, there are some policies with a terminal illness rider, which pays a lump-sum benefit if you are diagnosed when death is expected in 12 months or less. This money can be used for any reason.
There's also a chronic illness rider.
"If you can't do two of the important activities for daily living like walking, bathroom, eating, anything you do in the morning - they'll give you a lump sum to take care of that as well," Akiyama explained.
There's also something called a return on premium.
"If you don't need any of those benefits and haven't died, you'll get all the payments you've paid into the policy returned to you at end of the of the policy's term," said Akiyama.
All these are tax free. And if you are approached by someone claiming to be a broker, how do you know they are who they say they are? Akiyama notes the pandemic has greatly changed how the life insurance industry does things, from what was once in-person visits to Zoom and telephone calls.
"Some people wonder if you're actually an insurance agent. Any insurance agent you talk to should be able to text or email you their insurance license, and you should be able to check that against the state government's website," he said.
Akiyama also explains the difference between an agent and a broker.
"An agent only works with one company. They can only show one set of quotes from one company. They are bound by the health guidelines of one company," he said.
"A broker works with many different companies. They can show quotes from many different companies. Since they work with many different companies, they can pivot to another plan if your health is an issue, or find a plan with more favorable premiums or benefits," Akiyama added.. | https://www.kitv.com/kakou/aging-well-life-insurance-can-ensure-you-dont-leave-a-legacy-of-debt/article_c1f59d4e-c391-11ec-8e09-03dfc38b53b0.html | 2022-05-04T00:54:29Z |
There's no denying the numbers: Even with spotty reporting, Covid-19 cases and hospitalizations are rising again in the United States.
Cases are trending up in most states and have increased by more than 50% compared with the previous week in Washington, Mississippi, Georgia, Maine, Hawaii, South Dakota, Nevada and Montana. In New York, more than a quarter of the state's population is in a county with a "high" Covid-19 community level, where the US Centers for Disease Control and Prevention recommends indoor masking.
Average daily hospitalizations are up about 10% since last week, according to data collected by the US Department of Health and Human Services.
The culprit this time appears to be a spinoff of Omicron's BA.2 subvariant called BA.2.12.1, which was first flagged by New York state health officials in April.
BA.2.12.1, which is growing about 25% faster than its parent virus, BA.2, accounts for nearly 37% all Covid-19 cases across the US, according to new estimates from the CDC.
BA.2 caused an estimated 62% of all Covid-19 cases last week, down from 70% the week before.
US, South Africa contend with faster new variants
BA.2.12.1 isn't the only Omicron offshoot that scientists are watching.
After weeks of declines, South Africa saw its Covid-19 cases rise steeply in the past two weeks. Test positivity and hospitalizations have also popped up as scientists have watched two relatively new subvariants, BA.4 and BA.5, dominate transmission in that country. Taken together, they accounted for almost 60% of all new Covid-19 cases by the end of April, according to South Africa's National Institute of Communicable Diseases.
These new Omicron subvariants are spreading around the globe. BA.4 sequences have been reported in 15 countries and 10 US states, while BA.5 has been picked up in 13 countries and five US states, according to the website Outbreak.info, which maintained by a coalition of academic research centers and is supported by funding from the National Institutes of Health.
Like BA.2.12.1, BA.4 and BA.5 have a growth advantage over BA.2.
Omicron subvariants escape immunity
A new preprint study, published ahead of peer review, is pointing to why BA.4 and BA.5 are gaining ground: They can escape antibodies generated by previous infections caused by the first Omicron virus, BA.1, the variant responsible for the huge wave of infections that hit many countries in December and January. They can also escape antibodies in people who've been vaccinated and had breakthrough BA.1 infections, though this happened to a lesser degree than seen in people who've only been infected.
Researchers in South Africa tested the ability of antibodies in blood to disable BA.4 and BA.5 viruses in a lab. In people who were unvaccinated but recently recovered from a BA.1 infection, they saw a more than seven-fold drop in the ability of their antibodies to neutralize BA.4 and BA.5 viruses. In people who'd been vaccinated but recently had a breakthrough infection caused by BA.1, the drops were smaller, about three-fold lower.
By way of comparison, the World Health Organization uses an eight-fold drop in neutralization as the threshold for the loss of protection that requires an update to seasonal influenza vaccines.
The study results led the researchers to write that "BA.4 and BA.5 have potential to result in a new infection wave," making Covid-19 vaccinations and booster shots crucial to stopping the next wave.
"Our conclusions from this are, first, that Omicron by itself is not a great vaccine, right?" said Alex Sigal, a virologist at the Africa Health Research Institute who led the study. "Just because you were infected does not mean you have a lot of protection from what's coming next."
Dr. Eric Topol, a cardiologist who is the founder and director of the Scripps Research Translational Institute, praised the research, pointing out that this lab was also the first to characterize the first Omicron variant: "They've been first-rate all the way through the pandemic."
He said that overall, the finding was not good news. Even people who recovered from a Covid-19 infection as recently as December or January can be reinfected by these new subvariants.
"That dropoff of immune escape or immune evasion was pronounced in people who were unvaccinated," Topol said, pointing out that only about 1 in 3 people in South Africa have been vaccinated against Covid-19.
For those who are vaccinated, "those people are also not as bad, but they also have to face BA.4 and BA.5 with less solid neutralizing antibody response," he said. "The mutations in BA.4 and BA.5 are playing out to be a challenge to our immune response."
Only a few dozen sequences of these viruses have been reported in the US and Canada. Researchers say it's just too early to know whether BA.4 or BA.5 will take off in the United States.
It wouldn't be surprising if they do, said Andy Pekosz, a virologist and professor of molecular microbiology and immunology at Johns Hopkins University.
"We've seen this over and over again. As a variant becomes dominant in another country eventually ends up here in the US and spreading globally," Pekosz said.
In the meantime, Topol said, we have our own sublineage to deal with: BA.2.12.1.
"It may simulate the problems of BA.4 and BA.5," Topol said. "We don't know yet because there's no study like this one from the Sigal lab."
Shared mutation
The BA.4 and BA.5 viruses and BA.2.12.1 have mutations at location 452 of their genomes. This region codes for a part of the viruses receptor binding domain -- the part of the virus that docks onto a door on the outside of our cells. The Delta variant and some others have picked up mutations in this location. Researchers believe that changes there help the virus bind more tightly to our cells and hide from frontline immune defenders called antibodies that try to block the virus from invading our cells.
"That may make it transmit better perhaps between our cells as well," Sigal said.
BA.4 and BA.5 also have changes at location 486, which is a bit of a head-scratcher because previous viruses that changed in this location didn't do well. They fizzled out.
"Suddenly, this guy manages it. So we don't know what that does," Sigal said. "My suspicion is that's a heavy escape mutation," meaning it helps the virus hide from our immune system.
Scientists have begun work to try to better understand BA.2.12.1, which has been detected in 22 countries, though most of the sequences have come from the United States.
Pekosz said he has been growing copies of BA.2.12.1 in his lab and has recently shipped samples of the virus to other research groups for study. He said scientists have just started talking about experiments they want to do to try to answer two key questions: How quickly is it copying itself, and how well does it escape our immunity?
Before the SARS-CoV-2 virus, scientists thought coronaviruses didn't change much. Pekosz said that, looking back, we didn't know what we didn't know.
As long as the virus continues to find hosts to infect, it will continue to evolve.
"This virus has shown that it mutated slowly, but when it started to pick up good mutations, they just kept coming and coming and coming," he said.
The-CNN-Wire
™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved. | https://www.kitv.com/news/business/newer-fitter-descendants-of-omicron-variant-begin-to-drive-their-own-coronavirus-waves/article_7da5869f-4dd2-580b-9bae-84a22eceffff.html | 2022-05-04T00:54:35Z |
...HIGH SURF ADVISORY FOR SOUTH FACING SHORES OF ALL ISLANDS
THROUGH 6 PM HST THURSDAY...
.Several pulses of long-period south swell are expected to fill in over
the next couple of days.
...HIGH SURF ADVISORY REMAINS IN EFFECT UNTIL 6 PM HST THURSDAY...
* WHAT...Surf 7 to 10 feet, building to 8 to 12 feet.
* WHERE...South facing shores of all islands.
* WHEN...Until 6 PM HST Thursday.
* IMPACTS...Moderate. Expect strong breaking waves, shore break,
and strong longshore and rip currents making swimming
difficult and dangerous.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
Beachgoers, swimmers, and surfers should heed all advice given by
ocean safety officials and exercise caution.
&&
Weather Alert
...SMALL CRAFT ADVISORY NOW IN EFFECT UNTIL 6 AM HST WEDNESDAY...
* WHAT...East to northeast winds 20 to 25 kt...up to 30 kt over
the Alenuihaha Channel. Seas 7 to 12 feet.
* WHERE...All Hawaiian Coastal Waters.
* WHEN...Until 6 AM HST Wednesday.
* IMPACTS...Conditions will be hazardous to small craft.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
Inexperienced mariners, especially those operating smaller
vessels, should avoid navigating in these conditions.
&&
Weather Alert
A south swell affecting the area will have the potential to
produce large breaking waves in harbor entrances through
Wednesday afternoon. This swell may also produce some harbor
surges at times.
HONOLULU (KITV4) -- The Hawaii Pandemic Applied Modeling (HiPAM) workgroup has released its two-week COVID-19 forecast for all Hawaii counties. The forecast shows the weekly average positivity rate is on the rise.
Plus, cases are spreading at a greater rate than what is being reported due to many residents taking at-home tests. Dr. Scot Miscovich says this report includes more insight into what the COVID-19 numbers in Hawaii actually are.
"The HiPAM forecast is obviously something that shows we have a tremendous amount of disease spreading in the state of Hawaii right now. We may actually have seven times the actual amount the actual number is showing," Miscovich said.
Miscovich also says the third shot is crucial right now and two vaccines no longer mean "fully vaccinated."
The full forecast is included in a PDF at the bottom of this article.
The HiPAM forecast model depicts a two-week outlook for all Hawaii counties and aligns with recent finding from the CDC.
Disturbingly, experts say that, according to the data, 60% of the people in Honolulu County, 58% of the people in Hawaii County, 59% of the people in Maui County, and an astonishing 81% of the people in Kauai County had been infected with COVID-19 as of April 15, 2022. | https://www.kitv.com/news/coronavirus/hipam-model-shows-possible-surge-in-covid-19-cases-in-every-county/article_a7f5e2a4-cb35-11ec-b45b-27a0979e9dbd.html | 2022-05-04T00:54:41Z |
An attorney for Nxivm founder Keith Raniere on Tuesday asked for his conviction to be vacated, alleging in a court filing the FBI tampered with key evidence in the case against him and gave false testimony in his 2019 trial.
Raniere was convicted on seven counts, including racketeering, racketeering conspiracy, wire fraud conspiracy, forced labor conspiracy, sex trafficking, sex trafficking conspiracy and attempted sex trafficking. Raniere was sentenced to the remainder of his life in prison.
In a motion filed Tuesday, Raniere's attorney, Joseph Tully, asked for Raniere's conviction to be vacated, because of "the government's use of false testimony and evidence."
A spokesperson for the FBI declined to comment.
Attorneys for Raniere are set to make oral arguments appealing his conviction Tuesday afternoon, as are attorneys for his co-defendant Clare Bronfman, who pleaded guilty to conspiracy to conceal and harbor people who were not in the US legally for financial gain, as well as fraudulent use of identification. Bronfman was sentenced to nearly seven years in prison.
Raniere was accused of creating, a sex cult within the self-help group Nxivm, with an all-female group known as DOS, whose members served as "slaves" and "masters."
Multiple women testified at trial they were misled about joining the group and were told it was a "women's empowerment" group. They later found out they would become "slaves" who would be expected to have sex with Raniere, send him nude photos and have his initials branded onto their bodies.
The allegations in Tuesday's motion have been part of Raniere's appeal, but the motion details evidence allegedly showing metadata of a file card was changed while in possession of the FBI to make it appear nude photographs of a female were taken in 2005, when the woman was a minor. The evidence was at the heart of a child pornography charge Raniere was convicted of.
In the filing, Tully asks for there to be an evidentiary hearing where attorneys can question multiple forensic examiners, FBI special agents involved in the case, two federal prosecutors, two witnesses and others. A spokesperson for the US Attorney's Office for the Eastern District of New York had no comment.
Raniere's attorneys said a camera, camera card and hard drive were found at a home linked to Raniere in March 2018, and that while in FBI custody, a camera card was accessed improperly and altered.
A former FBI special agent submitted an expert report where he said he believed tampering "definitely" took place while the devices were in the custody of the FBI, and it was his expert opinion "the FBI must have been involved in such evidence tampering."
The-CNN-Wire
™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved. | https://www.kitv.com/news/crime/nxivm-founder-alleges-fbi-tampered-with-key-evidence-in-his-case-asks-conviction-be-vacated/article_81d9ac03-62cc-5bae-bedd-ebcecd2db96b.html | 2022-05-04T00:54:47Z |
...HIGH SURF ADVISORY FOR SOUTH FACING SHORES OF ALL ISLANDS
THROUGH 6 PM HST THURSDAY...
.Several pulses of long-period south swell are expected to fill in over
the next couple of days.
...HIGH SURF ADVISORY REMAINS IN EFFECT UNTIL 6 PM HST THURSDAY...
* WHAT...Surf 7 to 10 feet, building to 8 to 12 feet.
* WHERE...South facing shores of all islands.
* WHEN...Until 6 PM HST Thursday.
* IMPACTS...Moderate. Expect strong breaking waves, shore break,
and strong longshore and rip currents making swimming
difficult and dangerous.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
Beachgoers, swimmers, and surfers should heed all advice given by
ocean safety officials and exercise caution.
&&
Weather Alert
...SMALL CRAFT ADVISORY NOW IN EFFECT UNTIL 6 AM HST WEDNESDAY...
* WHAT...East to northeast winds 20 to 25 kt...up to 30 kt over
the Alenuihaha Channel. Seas 7 to 12 feet.
* WHERE...All Hawaiian Coastal Waters.
* WHEN...Until 6 AM HST Wednesday.
* IMPACTS...Conditions will be hazardous to small craft.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
Inexperienced mariners, especially those operating smaller
vessels, should avoid navigating in these conditions.
&&
Weather Alert
A south swell affecting the area will have the potential to
produce large breaking waves in harbor entrances through
Wednesday afternoon. This swell may also produce some harbor
surges at times.
KAPAAU, Hawaii (KITV4) -- Fed up with what she referred to as an "ongoing issue," one parent at Kohala High School is hoping to raise awareness about alleged thefts on campus.
Francine Lactaoen claimed both her sons at Kohala High had money stolen from their bags in the locker room.
"So I have one son that was missing $300, which he had hidden in his bag. It was his first payroll from work at the time," Lactaoen said.
According to Lactaoen, her other son had $20 missing from his bag, but it's not the amount that concerns her.
"They feel very violated that someone went into their bag," Lactaoen added. "It's not only concerning but very disappointing because they go to school and they trust people at school...it's a small school. Everybody knows each other."
Other parents, Lactaoen shared, told her their kids also fell victim to alleged theft on campus.
"I just hope the right things are going to be done to correct the issue," Lactaoen said.
This complaint comes after Kohala High's athletic director was arrested on suspicion of theft and criminal tampering.
KITV4 chose not to name the suspect because the employee was released pending investigation and has not been charged. The athletic director has also been placed on leave.
Both the Hawaii Department of Education and Kohala High administration declined comment on Tuesday because the investigation is ongoing.
Lactoen does not know who allegedly stole money from her children.
Do you have a story idea? Email news tips to news@kitv.com
'A'ali'i is a reporter with KITV. He was born and raised on the island of Maui and graduated from the University of Southern California with a bachelor's degree in Journalism. | https://www.kitv.com/news/local/parent-claims-theft-is-an-ongoing-issue-at-kohala-high-school/article_9e001a8a-cb30-11ec-b02c-1b11c48e502d.html | 2022-05-04T00:54:53Z |
...HIGH SURF ADVISORY FOR SOUTH FACING SHORES OF ALL ISLANDS
THROUGH 6 PM HST THURSDAY...
.Several pulses of long-period south swell are expected to fill in over
the next couple of days.
...HIGH SURF ADVISORY REMAINS IN EFFECT UNTIL 6 PM HST THURSDAY...
* WHAT...Surf 7 to 10 feet, building to 8 to 12 feet.
* WHERE...South facing shores of all islands.
* WHEN...Until 6 PM HST Thursday.
* IMPACTS...Moderate. Expect strong breaking waves, shore break,
and strong longshore and rip currents making swimming
difficult and dangerous.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
Beachgoers, swimmers, and surfers should heed all advice given by
ocean safety officials and exercise caution.
&&
Weather Alert
...SMALL CRAFT ADVISORY NOW IN EFFECT UNTIL 6 AM HST WEDNESDAY...
* WHAT...East to northeast winds 20 to 25 kt...up to 30 kt over
the Alenuihaha Channel. Seas 7 to 12 feet.
* WHERE...All Hawaiian Coastal Waters.
* WHEN...Until 6 AM HST Wednesday.
* IMPACTS...Conditions will be hazardous to small craft.
PRECAUTIONARY/PREPAREDNESS ACTIONS...
Inexperienced mariners, especially those operating smaller
vessels, should avoid navigating in these conditions.
&&
Weather Alert
A south swell affecting the area will have the potential to
produce large breaking waves in harbor entrances through
Wednesday afternoon. This swell may also produce some harbor
surges at times.
WAIANAE (KITV) -- For the West Side by the West Side.
Mario Patino, a Makaha resident and business owner, was looking for a way to support West Side businesses and provide families with a fun and safe night out in the community. That is how he came up with the idea for the first ever, West Side Makeke.
"We want to give businesses the opportunity to reach a larger audience as well as network with other entrepreneurs on the west side," said Patino.
Taking place on Saturday, May 7th at Orita's Building from 3-7 p.m., the market will include both inside and outside areas with music, food, and a variety of different vendors.
WATCH full interview with Mario Patino about the event below:
There will be a total of 16 vendors selling apparel, home goods and services, handmade gifts, local snacks and treats, and showcasing local artists and other small businesses in the area.
"We had so many businesses expressing interest in this event and we just didn't have enough room for everyone," said Patino. "The hope will be to host more of these events to give these other businesses the opportunity as well."
The event is free to the community and the first couple hundred visitors will receive a free tote bag.
"We are hoping this will be the first of many events to highlight small businesses and organizations on this side of Oahu," said Patino. "We are honored to be a part of this community and want to help create more ways to boost businesses and community involvement on this side."
Patino has been highlighting all the businesses that will be attending the event on his company's Instagram, @patinodesigns.
After nearly 10-years away, this local girl is home! In November 2021, Lia started at KITV as the weekend GMH anchor and a weekday reporter. The 2011 Kamehameha Kapālama graduate worked all across the country and even overseas before finding her way home. | https://www.kitv.com/news/local/west-side-makeke-coming-to-waianae/article_94084b1a-cb30-11ec-bda8-d3d00b94b085.html | 2022-05-04T00:54:59Z |
Court won’t pause Trump’s $10K-a-day fine while he appeals
NEW YORK (AP) — A New York appellate court judge on Tuesday rejected Donald Trump’s bid to halt his $10,000-a-day fine, keeping the former president’s meter running for now as he fights a lower-court decision penalizing him for failing to turn over documents in a state civil investigation.
Judge Tanya Kennedy, of the appellate division of the state’s trial court, denied Trump’s interim application to pause the fine pending his appeal. The court’s full bench will weigh in on Trump’s motion to stay the fine later this month, Kennedy said.
Trump’s attorney Alina Habba requested the stay Monday, a week after Manhattan Judge Arthur Engoron fined Trump for failing to comply with a subpoena issued in New York Attorney General Letitia James’ probe of his business dealings.
Habba wrote in a court filing that Engoron’s ruling was “unconscionable and indefensible.” The judge found that Trump, who is appealing the ruling, and his lawyers had failed to show they conducted a proper search for subpoenaed records.
In asking the appellate court to pause his fine, Trump sought to stop it from accruing while he seeks to overturn Engoron’s ruling — potentially saving him hundreds of thousands of dollars if the appellate court ultimately upholds the contempt finding.
Trump is also appealing Engoron’s Feb. 17 ruling requiring him to answer questions under oath. Oral arguments in that appeal are scheduled for May 11. No arguments have been scheduled in Trump’s contempt challenge.
In a written statement Tuesday, Trump, a Republican, lashed out at James and the state’s court system. He called the attorney general, who is a Black Democrat, “racist,” said the courts were “biased, unyielding, and totally unfair” and claimed to have turned over “millions of pages of documents, perhaps more than any person or entity has ever given before.”
“This is a continuation of the greatest Witch Hunt in history, and it should not be allowed to continue,” Trump said. “The good news is, I have done nothing wrong!”
A message seeking comment was left with Habba.
James, a Democrat, asked Engoron to hold Trump in contempt after he failed to produce any documents to satisfy a March 31 deadline to meet the terms of the subpoena. She has said her investigation has found evidence that Trump may have misstated the value of assets like skyscrapers and golf courses on financial statements for over a decade.
Habba told Engoron that she met with Trump to ensure he had no records and there were none to be found. On Friday, she submitted additional documents explaining the document search, including an affidavit in which Trump claimed he has no documents. Engoron criticized the affidavit as lacking in detail.
In seeking to halt the fine, Habba said Trump and his representatives had performed a “diligent, thorough and comprehensive search” for everything sought in the subpoena and provided complete and accurate responses to the attorney general. She said the additional submissions last week amounted to “extraordinary efforts to comply.”
“Given these circumstances, it is unconscionable and indefensible for Appellant to be held in contempt in any manner, much less at the inordinate expense of $10,000 per day,” she said.
___
Associated Press reporter Larry Neumeister contributed to this report.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/05/03/court-wont-pause-trumps-10k-a-day-fine-while-he-appeals/ | 2022-05-04T01:15:48Z |
Guinness World Records: 100-year-old man has longest career of 84 years at same company
(Gray News) - A man in Brazil is setting records for staying at the same company for over eight decades.
Last month, Walter Orthmann turned 100 years old and celebrated with his co-workers, friends, and family. He also celebrated being honored as one of the latest Guinness World Record holders.
Officials with the Guinness World Records said Orthmann has set the record for working at the same company for 84 years and nine days, as the team verified back on Jan 6.
He started working as a shipping assistant when he was fifteen years old in January 1938 at a textile company in Santa Catarina, Brazil, called Industrias Renaux S.A. The company is now known as ReneauxView.
Due to financial problems at home, Orthmann told officials he began to work to help his family. He went with his mom to apply for a job, and because of his strong proficiency in German, he was hired. And the new record holder has worked at the same company ever since.
“Back in 1938, kids were expected to work to help support the family. As the oldest son of five, my mother took me to find a job at the age of 14,” Orthmann said.
Officials said after getting his first position as a shipping assistant, Orthmann showed outstanding skills and a willingness to learn. So, he was promoted to a position in sales and became a successful sales manager.
“I was given the opportunity to work as a salesperson. I traveled to Sao Paulo, and in less than one week, I filled the production with orders equivalent to three months of work,” Orthmann said.
The 100-year-old said he believes that the best part about having a job is that it gives you a sense of purpose, commitment and a routine.
Throughout his 84 years of work, Orthmann said he has seen many things. He said one of the most important parts of the business is constantly being up-to-date and adapting to different contexts.
Officials said he is in good health, with excellent mental clarity and memory. Orthmann enjoys a calm life and exercises every day. As a result, he has maintained enough vitality and energy to drive to his favorite place every day, the office.
“You need to get busy with the present, not the past or the future. Here and now is what counts. So, let’s go to work!” Orthmann said.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/05/04/guinness-world-records-100-year-old-man-has-longest-career-84-years-same-company/ | 2022-05-04T01:15:54Z |
The Environmental Protection Agency’s latest annual report on greenhouse gas emissions shows U.S. agriculture continues to represent just 10% of the nation’s emissions, according to American Farm Bureau Federation.
“U.S. agriculture not only minimally contributes to the overall U.S. greenhouse gas footprint but the sector also sequestered more carbon in 2020 compared to 2019,” the Farm Bureau said in its latest “Market Intel” report.
At 635 million metric tons of carbon dioxide equivalent in 2020, emissions from agriculture were down by 28.8 million metric tons or 4.3% from 2019.
“The additional efforts to adopt conservation practices through voluntary, market-based incentives have helped farmers and ranchers trap 759 million metric tons of carbon in the soil (in 2020), representing 12.7% of total U.S. emissions,” said Shelby Myers, a Farm Bureau economist.
Agricultural soil management such as fertilizer application or tillage practices, represents about half of all agricultural emissions but only 5% of U.S. emissions. Those emissions declined 8.4% in 2020 year over year.
While U.S. agricultural emissions have most recently been declining, they have increased 6% since 1990.
But that’s not the full story, Myers said. Agricultural productivity is increasing, as is the global population. Innovation and advancements in technology have allowed farmers and ranchers to increase their productivity while using the same amount of inputs, she said.
USDA’s Economic Research Service estimates farmers and ranchers are producing 2.78 times more in output per unit of input compared with 1948. Even more impressive, productivity is rising while cropland is declining — by 30 million acres over the last three decades, she said.
“When considering productivity gains compared to agricultural emissions, agriculture has been remarkable at sustainable intensification, in addition to adding practices that even further shrinks its environmental footprint,” she said.
Those improvements have been in crop yields, animal nutrition and breeding, she said.
Compared to 1990, the U.S. is producing 77% more pounds of pork while decreasing its emissions per unit of pork by 21%. It is producing 51% more milk but has decreased emissions per unit by 26%.
It is also producing 18% more beef while reducing emissions 11% per unit, Farm Bureau reported.
While agricultural emissions have increased 6% since 1990, the U.S. population has increased 33% and agricultural emissions per capita have declined 20% since 1990, Myers said.
When factoring in productivity and population gains, both per-unit and per-capita agricultural emissions are declining, she said.
“That means U.S. agriculture is producing more food, fiber and renewable fuel for more people while using fewer resources and emitting fewer greenhouse gases,” said.
With additional investment in research, farmers and ranchers can be part of the development of new technologies that capture more carbon in the soil and reduce livestock-related emissions while generating multiple environmental benefits, she said. | https://www.heraldandnews.com/klamath/farm-bureau-epa-report-demonstrates-agriculture-s-sustainability/article_5423e187-3ef4-5acc-be4c-1807dd27770a.html | 2022-05-04T01:20:09Z |
Health care costs account for nearly one-quarter of household spending in Oregon, according to a new report from the Oregon Health Authority.
The report, published last week, said that at 23% of expenses, health care is the single biggest household expenditure for Oregonians, followed by housing, utilities and fuel.
Insurance premiums and deductibles, which consumers have to pay before their plans kick in, account for part of the cost. Premiums are so high in Oregon that for households on company plans they are approaching the average cost of a new compact car – $21,000.
The report is the first of its kind in Oregon and is part of the state’s efforts to curb skyrocketing health care costs. Such expenses affect hundreds of thousands of Oregonians, causing households to skimp on other expenses and drain savings, with some going into debt and bankruptcy.
The state is also publishing price hikes for new medications to publicly shame companies that charge six- and even seven-figure sums for new products. Despite opposition from industry, the Legislature put the health authority in charge of overseeing company mergers to ensure they don’t drive up costs.
The report found that health care costs tax the economy, burden poorer communities, widen the equity gap and jeopardize personal finances.
Among the data:
• Premiums grew 40% from 2013 through 2019 to about $3,600 a year.
• Oregonians spent more than the national average on health care over those same years.
• 10% of Oregonians exhausted their savings in 2019 to pay for health care.
• 60% of bankruptcies in 2019 included medical debt.
• Native Hawaiian and Pacific Islander Oregonians were three times more likely to report using up their savings on medical bills as white Oregonians.
“This report fleshes out with data a troubling picture of the impacts of rising health care costs on Oregon families,” according to a statement from Jeremy Vandehey, director of the Health Policy and Analytics Division of the Oregon Health Authority. “While we’ve known for a long while that the rate of cost growth was unsustainable, Covid showed us in stark relief how important access to affordable care was to Oregon families. High costs not only cause poor health outcomes, but they also do real financial harm to people in Oregon.”
The report foresees no relief.
“Health care costs are projected to continue growing in Oregon and nationally,” it said.
To stem skyrocketing health care costs, the state is aiming to keep annual rate increases to 3.4%. Other states – Delaware, Rhode Island, Connecticut, Washington and New Jersey – have similar programs, following Massachusetts, which led the way in 2012.
The challenge they face in curbing health care costs is ensuring quality care continues.
“We must contain health care cost growth in ways that do not impact people’s health, the quality of health services or exacerbate health inequities,” Vandehey wrote.
The state will continue to monitor health care costs, producing an annual report. In 2026, insurers and providers will be penalized if they don’t follow the target rate. | https://www.heraldandnews.com/klamath/health-care-spending-accounts-for-one-quarter-of-household-expenditures-in-oregon-study-says/article_115f5dd0-e154-57fe-8523-d823b5f8119f.html | 2022-05-04T01:20:15Z |
The following Q&A was compiled by Oregon newsrooms collaborating to cover the 2022 governor’s race. Journalists across the state drafted the questions, which were distributed to candidates by the Agora Journalism Center at the University of Oregon. Responses are in the candidates’ own words and have been trimmed to the 300-word limit.
The primary election is May 17 and voting is underway.
The question
The Oregon governor’s office is usually reactive when it comes to dealing with drought – sending relief money to affected counties or providing water deliveries in communities after wells have gone dry.
What specific steps would you take to provide long-term solutions for years of increasing drought?
Amber R. Richardson, Rebublican
We need more reservoirs, roof rain collection systems, cracking down on the border and these illegal grows that have been stealing water. Do not close the dams, there are many policies that are in place right now that have been devastating to our forest industry and environment that has actually caused more damage.Utiliziling our resources in Oregon in a healthy productive way is what needs to happen. After the almeeda fire in Southern Oregon I couldn’t sit back and watch the destruction any longer. We didn’t even have the water pressure to put out the fire. Not only did we ask for help a year prior stating the facts, we were left defenseless, we were forgotten. When you are born and raised in Oregon like myself you have watched the destruction and it truly breaks your heart. Which is why I’m running, which is why you see a lot more grassroots patriots running for office. The time is now for patriots not politicians.
Betsy Johnson - independent
It is time to stop being shocked and amazed that drought hits parts of Oregon on a regular basis. It’s been a sad reality for as long as I can remember. More than a third of the state experienced severe drought or worse between 2000 and 2020, and five counties – Klamath, Crook, Morrow, Jefferson, and Jackson – have already declared drought emergencies for 2022. People are going to need help, and we will deliver without bureaucratic nonsense. Every year, the bureaucrats in Salem can’t seem to get their act together until the predictable problems have become full-scale emergencies.
As governor, I will not wait for the reservoirs to dry up before delivering drought relief. All year long, I will be in regular communication with mayors, city councils, county commissions, and tribal leaders in the areas of the state with the greatest threats of drought to get a firm picture of what they are going to need. I will direct my agency heads to start relief efforts before the emergency happens. We’ll work with local leaders to reduce fire hazards before anything’s burning; and we’ll be ready to deliver financial assistance to impacted Oregonians before they’ve lost their homes or businesses. Growing up in Central Oregon, having run a helicopter company that helped fight fires, I have first-hand knowledge of these issues; they are not just policy issues for me, they are personal.
Bill Sizemore, Republican
Oregon receives enough water to manage times of drought, but we need to do a better job of storing it and transporting it to where it is needed. I would support building more reservoirs and pipelines and also matching the amount of water the State of Washington takes from the Columbia River. A lot more river water could be utilized without damaging fish habitat or upstream migrations. One thing I do not support is usurping the historic water rights currently held by farmers and ranchers.
Bob Tiernan, Republican
Mark Twain’s famous comment, “Water is for fighting. Whisky is for drinking” still applies today because the foundation of much of what we do in Oregon depends on our state’s most valuable natural resource—water! Whether it’s traditional industries like agriculture that need water for crops or modern day high tech in the Columbia Gorge which require lots of water for cooling data centers the state needs to focus on for positive solutions.
I would look at current sources, such as preventing the destruction of our dams and reservoirs, working with tribes and conservation groups to mitigate any ongoing concerns about threatened species or habitat. Increase conservation measures and turn to the experts for more water storage options where possible. As Governor I would also enhance efforts to build more reservoirs and other ways to capture water and deliver it where it’s needed. Perhaps we can encourage conservation with tax credits for water recovery from residential and commercial rooftops. There could be opportunities to build salinization plants along Oregon’s coastline. One of the things I’ve done in my business consulting career is turn to experts for answers on various topics.
As Governor I would do the same on this and other topics. Bring in the stakeholders, experts on drought conditions, farmers, weather, soil, aquifer, habitat and other professionals; together we can find answers.
Bridget Barton - Republican
I’m a Republican outsider, so my approach to drought isn’t confined to 40-years of leaning harder into failed policies like single-species focus in the Klamath Basin or rejecting drawing water from the Columbia River in NE Oregon.
As someone who’s not building a political career, I have the freedom and the will to “rip the Band-Aid” and have frank discussions about who’s winning and who’s losing the water wars, and how we can make that more balanced. Our current approach focuses too heavily on wildlife at the expense of people and their livelihoods. My vision will refocus our natural resources on people and bring balance back to policies that have needlessly and critically harmed rural Oregonians.
Bud Pierce, Republican
We must supply more water to counties facing long-term water shortages. This will require us to build dams in environmentally sensitive ways in areas of abundant rainfall, allowing us to store water and deliver this stored water to areas of need. In short, intensifying conservation efforts will enable us to have adequate water supplies in areas of drought in the absence of adequate rainfall.
Christine Drazan, Republican
Access to water is essential—and too often, too political - as federal laws collide with state water needs and stakeholders do battle in the courts. With recent federal decisions and years of drought, lives now hang in the balance. I don’t want to read another story about a farmer or rancher leaving the state their family has called home for generations. We have to help. We must respond to drought needs quickly—before the wells run dry and fields lie fallow. Democrats in Salem withheld needed drought relief for months while they positioned and pushed political agendas. That has to stop. I will not allow farmers, ranchers and Oregon families to be held hostage by Salem. I will work to eliminate the red tape that has resulted in neighbors being prevented from supporting neighbors in need of water. I will direct our state agencies to support innovative water policy including conservation efforts and storage projects so that we can hang on to extra water during peak flow months to serve our needs in drier months. I will advocate on behalf of Oregonians before the federal government and the courts to ensure our needs are met and not traded away to achieve political objectives regardless of human impact.
Court Boice, Republican
With the environment, if your policies are reactionary, you aren’t solving environmental problems, you are an environmental problem. Our water problem is based in decades of environmental mismanagement and incompetent governance. This is exacerbated by the 2014 Waters of The US (WOTUS) policy from the Obama Administration. Former President Trump re-wrote the policy in 2018 and things improved. President Biden returned to the 2014 Obama plan last fall. Essentially, it places federal control over the water issue and subordinates state needs and programs to federal rules even for waters in this state. We need more reservoir capacity and until that is accomplished, we’re having to continue the failed reactionary measures inherited from past administrations and we will not have sufficient water to sustain our population and meet environmental needs. Additional reservoir capacity involves the federal government: That makes it a long-term issue. That’s not just about sufficient water for the population, agriculture, industry and firefighting: Oregon’s hydro-electric power generation capacity demands increased reservoir capacity to increase power production and lower costs for the consumer.
George L. Carrillo, Democrat
Climate change is a global emergency and we must take action now. We must commit 100% on renewable energy and invest in union-protected green jobs by 2040 and not approve further development on fossil fuel, coal, fracking, and other dangerous greenhouse gasses. We must align our efforts to tackle climate change with environmental justice. Violations will be met with strict enforcement. We need change for our future generations to be safe in a world we are living behind. The wildfires have resulted from an ongoing drought that Oregon has failed to respond to adequately. A commission has to be created to adequately address these issues now and for our future. Re-allocating state funds to ensure wildfire response and recovery have all the resources necessary to tackle the ever-growing wildfire season.
Jessica Gomez, Republican
Oregon, like California, has failed to take advantage of wetter years by increasing impoundment capabilities. One long-term solution is to build water storage and distribution infrastructure that will provide relief to communities enduring chronic drought conditions. In parallel, Oregon needs to assist our agricultural industry in adopting technology that will make more efficient use of the water that is available.
John Sweeney, Democrat
I think that we must look to piping systems all over the state. Yes, it will cost a lot of money. But, in the long run it will pay off.
Added fact; every day over 85 degrees, it takes off 3 inches off of the water table. Ten days, 30 inches (2 1/2 feet), that is a lot.
Julian Bell, Democrat
Our worsening drought is caused by climate change. Climate change must be fixed, aggressively, and rapidly – within the next 8 years, preferably 6 so that we’re not missing our deadline. This means we – all of us, with substantial support from the state of Oregon – must curtail the use of all fossil fuel. Without doing this any stop-gap measures will fail. Immediate damage control measures for farmers must focus on doing as much as possible with the water we have available.
Of course Oregon can’t fix a global problem like climate change alone. But the world can’t do it without the United States, including Oregon, making rapid progress. Look at it another way – worldwide, all the fossil fuel devices must be retired. It doesn’t matter where we start. What matters is how quickly we go, and to what extent we can take the rest of the world with us. Showing leadership is much more likely to set the right example and recruit other partners. And while we might think that other countries are not doing the right thing, the main partner that needs to be recruited is actually us, the United States. All of us must make strenuous efforts to demonstrate good faith. Although we like to think other people are not doing the right thing this judgement may be misplaced. For example, population centers in Oregon such as Portland are accustomed to believing they are doing a better job at limiting their greenhouse gas emissions than rural Oregon, but Lakeview, Or, generates more clean energy than the energy it consumes (please see othersideofthehillmovie.com)
For people who are worried that these changes would mean the end of Oregon’s economy, since the 1990s Oregon’s economic growth has not tracked with our greenhouse gas emissions.
Keisha Lanell Merchant, Democrat
Build more food forests, increase collection on rain water and ocean water purification Innovative systems, develop new cactus farming to ensure survival species. Change the way we collect water. Develop smart technologies systems into communities and cities to increase opportunities of excellent performance in distribution. This may be futuristic, but it is necessary to start thinking creatively using inventions and innovation as the hanging gardens in the ancient times with many types of of water systems to provide Quality access to water.
Marc Thielman, Republican
As Governor, I will initiate a proactive plan to store more water and apply good science to manage existing sources more effectively. More mountain reservoirs, aquifer recharge areas, and better management of current resources will ensure that we have ample supplies of water for rivers, ranchers, farmers, fish, and urban communities. We have enough water in Oregon, but we must foster the political will to build in safeguards and infrastructure to bridge our supplies in times of drought.
Michael Trimble, Democrat
I will create a commission comprised of tech companies, leading conservation think tanks, and those on the front lines dealing with this very severe issue to come up with a long term of sustainable water solutions and practices. My administrative will be a proactive one looking and planning for the next catastrophe/emergency, not just reacting.
Nick Hess, Republican
Our first priority should be to modernize piping systems in rural areas prone to water loss. This can reach up to 70% of water lost through old pipes and canals during transit. We must also prevent water loss in reservoirs by leveraging technology to limit evaporation. Additionally, the state must invest in new dams and reservoirs across the state.
For long-term solutions, the state must innovate and think outside the box. We should be looking at adding wave-powered desalination plants along our southern coastline. This would not only add jobs in an area of Oregon that needs them most, but also would allow fresh water to be piped into drought-stricken areas of our state. Any excess water generated from these plants could also be sold to California.
Patrick E. Starnes, Democrat
I am the only governor candidate who was elected several times and has served for over 10 years on Soil & Water Conservation Districts and on watershed councils with tribes, farmers and ranchers.
Lots of water is lost in our canal systems in eastern Oregon. As Governor I would lead the effort to line the canals so we do not lose water through absorption and also build shade over canals with miles of solar panels.
The Governor is responsible for the Water Resources Department and we need to meter water use so folks are not using more than their right allows. Also we can do more with high efficiency irrigation systems and there are Federal dollars to help with that.
Peter W. Hall, Democrat
I would make a real assessment of what water would be available in the future and then present communities with the information and let them decide how it should be divided. This could result in taking farmland out of production and moving populations to areas that could provide water on a sustainable level. This process would also determine what water resources could be moved to some areas, but it may not be feasible to get water to many scattered communities. The state should then provide the financial aid and social services necessary to make the transition to sustainable communities in water poor areas.
Stan Pulliam, Republican
There are no easy answers here, but a Pulliam Administration would focus on increasing the transportation of water to farmers rather than on radical environmental priorities such as stopping the logging of trees. My focus would be on local control and empowering those on the ground to make decisions best for their area. And I will prioritize landowners and our natural resource-based workers who need our support. Finally, my administration would be willing to try ideas that are often shot down by radical environmentalists, such as building artificial beaver dams to help increase the natural storage of water while also restoring natural beaver habitat.
Tim McCloud, Republican
As Governor, I will support Oregon’s efforts to build small-scale desalinization plants that can help deliver needed resources to arid parts of Oregon. I will encourage new policies regarding privatized water collection and incentivize home building practices that help residents to reduce water waste as well as develop water storage systems. I will proactively support at risk industries with subsidization of drip irrigation and retrofitting systems, and water transportation.
Tina Kotek, Democrat
The state should be a proactive, collaborative partner with local governments to make sure we maximize water resources in the most efficient and effective ways. As House Speaker, I supported increased investments in the necessary studies and new approaches for water conservation and usage. Climate change is causing longer and more frequent drought periods. As Governor, I will advocate for new investments in water infrastructure and convene the regional conversations that are instrumental to helping communities be more resilient.
Tobias Read, Democrat
Addressing the drought situation will take collaboration with ranchers, farmers, tribal leaders, and local governments to coordinate conservation and drought management efforts with a specific focus on on the ground programs lead by local communities. Additionally, we need to make long-term investments in water infrastructure to help mitigate against the climate-related impacts–increased water storage, improved monitoring, and covering canals where
Wilson R. Bright, Democrat
It is time the state debates and comes up with a plan that dictates what actions take place when, depending on the severity of the drought as it happens. Watering the lawns should be the first to be halted. All households should be mandated to install low flow toilets, showers, and faucets.
Editor’s note: Reed Christensen is no longer running after suffering a stroke and fellow Republican Stefan G. Strek declined to participate in the Q&A. Republicans Brandon C. Merritt, David A. Burch, Raymond Baldwin, John G. Presco and Kerry McQuisten didn’t respond to the question, nor did Democats Michael Cross, Dave W. Stauffer, David Beem, Genevieve Wilson or Ifeanyichukwu C. Diru. | https://www.heraldandnews.com/klamath/in-their-words-oregon-gubernatorial-candidates-speak-on-water-issue/article_5712ca14-eaad-5c70-bf30-7a28adbf8ee2.html | 2022-05-04T01:20:21Z |
Opponents of an irrigation pipeline project in Central Oregon are incorrect that it violates an easement meant for open canals, according to a federal judge.
U.S. Magistrate Judge Mustafa Kasubhai has determined the Tumalo Irrigation District hasn’t exceeded the scope of an easement across opponents’ properties by replacing open canals with piping.
The irrigation district is installing pipelines to conserve water that would otherwise be lost to seepage and evaporation, but opponents fear the loss of an open canal will harm vegetation and reduce their property values.
Kasubhai has recommended rejecting the arguments of nine landowners who filed a complaint seeking to block the pipeline project, but the ruling must still be affirmed by U.S. District Judge Anne Aiken to have legal effect.
“Placing irrigation pipes below ground is a reasonable modification that falls squarely within the easement’s purpose,” Kasubhai said.
The argument that landowners will be “unnecessarily burdened” by diminished property values should also fail, he said. “However, the removal of an unintentional benefit to servient estate holder is insufficient to establish an increase in burden.”
Opponents of the project claim the irrigation district’s easement across their properties does not permit digging below the bottom of the canal to install the pipeline. They pointed to language governing the easement that limits its scope to 50 feet “on each side” of the canal.
The judge said the 50-foot limit applies vertically as well as horizontally, which means they’ve wrongly interpreted the easement’s terms.
“Critically, plaintiffs’ interpretation effectively replaces the word ‘each’ with ‘either’ in an attempt to limit the geographic scope of the easement to the water’s horizontal margins,” he said.
The Tumalo Irrigation District, which manages 80 miles of canals and pipelines that serve about 7,400 acres, typically lost half the water running through open canals.
Such losses disrupt irrigation when below-average snowpacks reduce the water supply, with federal protections for the threatened Oregon spotted frog further aggravating the problem.
Opponents filed a lawsuit in 2020 against replacing open canals with pipelines because the lack of seepage would likely kill century-old Ponderosa pines and other plants along the canal, damaging wildlife habitat and property values.
“The burden is the loss of hundreds of thousands of dollars in property value. It cannot occur in this way if the burden on the servient estate is increased,” said Esack Grueskin, attorney for opponents, during oral arguments earlier this year.
The irrigation district countered that irrigation districts have historically built elevated pipelines to cross rivers and other obstacles, just as it’s now common to rely on easement to install pipelines underground.
“The method of delivery may reasonably change over time,” said Mark Reinecke, the irrigation district’s attorney. “There is nothing to say it cannot be done below the bottom of the canal or anything else.” | https://www.heraldandnews.com/klamath/judge-rejects-arguments-against-central-oregon-irrigation-pipeline-project/article_b8507a14-6615-572a-afb9-9e910fbe678a.html | 2022-05-04T01:20:27Z |
Oregon Tech’s softball team, for the first time since 2015, will be in a familiar place when the Hustlin’ Owls host both the Cascade Collegiate Conference tournament and the opening round of the NAIA national championships.
Tech clinched the regular-season championship over the weekend, and the rights to host the conference tournament.
That championship also assured OIT of a berth in the 40-team national tournament and Monday learned it will be one of 10 sites to host opening-round competition. The 10 regional site winners will advance to the World Series in Columbus, Georgia.
The national tournament brackets will not be released until next week after all the conference tournaments have been completed. The Owls will host their four-team bracket at the John and Lois Stilwell Softball Stadium on May 16-18.
First comes the conference tournament Friday, Saturday and Sunday.
Tech will open tournament play at 2 p.m. Friday against the winner of an earlier game between The College of Idaho and the University of British Columbia.
OIT enters the tournament as the top seed with a 43-10 record, its 10th 40-win season. This also marks Tech’s 11th straight 30-win season, and its 11th consecutive postseason appearance.
In addition to the Hustlin’ Owls, College of Idaho and British Columbia, other teams in this weekend’s double-elimination competition will be second-seeded Southern Oregon. The Raiders will, like OIT, receive a first-round bye and meet the winner of a game between Eastern Oregon and Corban.
Corban also played in the 2015 conference tournament and NAIA opening round the last time Tech hosted the competitions.
Tech, College of Idaho and Southern Oregon all are ranked among the top 10 teams in the most recent national poll, and Eastern Oregon is among the top 25.
Admission for the conference tournament is $5 for adults, with seniors and military with identification admitted for $3. Oregon Tech students and staff, with proper ID, will be admitted free.
OIT’s games all will be broadcast live on the radio at 104.3 FM and 960 AM. Live stats and streaming video will be available at oregontechowls.com.
An expanded concession stand also is scheduled for the tournament.
Tech talk
• Games are scheduled for 9 and 11:30 a.m., as well as 2 and 4:30 p.m., both Friday and Saturday. Games are scheduled for 11 a.m. and 1:30 p.m. Sunday, with an additional game, if necessary, to begin 30 minutes after the second game.
• Home and visiting teams will be determined by a coin flip.
• Oregon Tech also hosted, and won, the conference tournament championship in 2011 and 2012. The Owls were second to Concordia of Portland when they hosted the 2014 competition.
• In addition to Oregon Tech, the only other Cascade Collegiate Conference softball teams to host the league tournament over the past 15 years are Southern Oregon, Eastern Oregon, College of Idaho and the now defunct Concordia University.
• OIT, which is the defending conference tournament champion, will make its eighth straight appearance in the NAIA national championships.
• In addition to OIT, other first-round NAIA tournament sites will be Southern Oregon, Tennessee’s Freed-Hardeman, Georgia Gwinnett, Indiana Wesleyan, Alabama’s Mobile University, Oklahoma’s Oklahoma City and the Sciences and Arts, Mississippi’s William Carey, and the Mid-South Conference.
Steve Matthies is Herald & News sports editor emeritus. He has covered Oregon Tech athletics for more than 30 years. | https://www.heraldandnews.com/klamath/oit-to-host-conference-softball-tourney-first-round-of-naias/article_2920f71e-0236-5a9b-a038-31633110be4f.html | 2022-05-04T01:20:33Z |
A survey of Asian Oregonians showed that half had heard someone use a racial slur, epithet or degrading language against them or their family. One-fifth said they or their family have faced a threat of physical harm or property damage because of their race.
But most did not report it to police or the state’s bias hotline. Those are among the findings from the Oregon Values and Beliefs Center, an independent nonprofit research group that conducted the survey along with the Portland-based Asian Health and Service Center and the Asian and Pacific American Network of Oregon.
There are nearly 270,000 Asian and Pacific Islanders in Oregon, making up nearly 7% of the state’s population, according to U.S. Census Bureau data.
Nearly 550 Asian Oregonians responded to the survey either online or on the phone between October and January. The interviews were conducted by the Asian Health and Service Center in Cantonese, Mandarin, Korean and Vietnamese. The bulk of the respondents identified as Chinese, Japanese, Vietnamese or Filipinx and most – 82% – live in Multnomah, Washington and Clackamas counties.
About a quarter of participants said that in their community, race-based harassment and violence against people of Asian descent is a serious issue; about a third said it was somewhat serious.
More than a third had a racial slur, epithet or degrading language directed at them, a family member or both on social media.
“I was not surprised,” said Holden Leung, executive director of the Asian Health and Services Center. “Because of the pandemic I think the situation has become even worse.”
Leung said in years past, Asian Oregonians suffered increased harassment and hate crimes around the Lunar New Year. Leung said several of his clients are victims of such attacks.
“This survey will draw attention for some time, but it’s a problem with context and with a long history. Hopefully we’ve learned from the survey that we really need to address root causes of this.”
FBI data show that anti-Asian hate crimes nationwide have been on the rise throughout the pandemic, soaring more than 70% in 2020.
Asian Oregonians were found to report to the police 20% less than other respondents who were asked the same survey questions.
The Oregon Department of Justice has a Non-Emergency Bias Response Hotline for reporting incidents, but 80% of survey respondents had no idea it existed.
“The younger generations are more ready to report hate crimes or incidents. The older populations, immigrants who are non-English speaking and older, take it for granted,” Leung said.
Duncan Hwang, associate director of the Asian and Pacific American Network of Oregon, said he was saddened to see so many bias incidents going unreported. “There are so many things that don’t rise to a level of criminality, but are deeply upsetting.”
Leung said there are agencies working to raise awareness about resources available for reporting, for mental health support following an attack or harassment and working on prevention.
But, in a statement, Leung added, “we all lack resources and are beyond capacity. This is a community problem that requires a community response and additional resources.” | https://www.heraldandnews.com/klamath/survey-finds-many-asian-oregonians-experience-hate-crimes-harassment-that-go-unreported/article_19464866-0c1d-571c-8aa6-b0e636777f11.html | 2022-05-04T01:20:39Z |
When the Klamath Falls City Council renamed Kit Carson Park to Eulalona Park on April 4, it had a two-pronged effect. The new name honored an Indigenous village, and it also distanced itself from Kit Carson, the famous frontiersman linked with the genocide of Indigenous people.
The city council voted on the name change unanimously, and despite the presence of a public forum, no citizens protested the decision, either in person or by phone. In an address urging adoption of the Eulalona name, councilman Phil Studenberg said, “I just think it’s appropriate in light of the history of Kit Carson, to honor our Native people, and to honor them with a park.”
According to Klamath Falls Museums director Todd Kepple who serves on the city park advisory board, the name was approved by the Klamath Tribes, clearing the way for the park’s new designation.
Still, public sentiment towards shedding the Kit Carson name is mixed. Commenters spoke out against a proposed name change in February when Klamath Alerts asked the public to submit new potential names. Since then, dissenters have persisted, taking numerous forms. A one-star review of the park on Google reviews even links critical race theory with the decision to change the name.
For his part, resident Charles Hicks wrote a letter to the editor that appeared in the Herald & News on April 14. He stated the city had no authority to change the name, citing its standing as a historical site. “How can they change a historical site?” he said. “It’s really rare that you can change a historical site. It takes an act of God almost to do it.”
To his point, Hicks isn’t entirely wrong.
Ian Johnson of the State Historic Preservation Office said that, “If they wanted to change the official name on the National Register of Historic Places nomination which is kept in Washington, D.C., by the National Park Service, there is a process.”
In such a case, the original name can be an important sticking point to change, because the name itself has to “reflect the historic reason it was listed.” In such a case, changing names that are tied to controversial figures like Carson is more difficult.
But there’s a problem.
Kit Carson Park is not registered to the Oregon Historic Sites Database.
“Staff has not found any documentation that references the former Kit Carson Park as a historical site,” said Public Information Officer Kristina Mainwaring, speaking on behalf of the city of Klamath Falls. Further research with the State Historic Preservation Office also showed this to be the case.
But even if Kit Carson Park was registered, Johnson said, “Locally, if someone doesn’t like the name of something, even if it’s listed in the National Registry, they can call it whatever they choose to.”
In such a case, the nationally registered name would remain the same, but everything else, including signage at the site itself, could be different.
“I believe the city has the right to name whatever it wants, in whatever fashion it deems appropriate,“ said Kepple, in defense of the Eulalona name. “I don’t think there’s a case to be made that the city acted outside the bounds of law.”
Mainwaring expressed the same sentiment, saying, “The City Council followed its policy in renaming a park and followed that process leading up to and including the name change to Eulalona Park.” | https://www.heraldandnews.com/klamath/whats-in-a-name-more-than-one-would-imagine/article_f14301de-9368-5059-acac-75c924112ff3.html | 2022-05-04T01:20:46Z |
With the U.S. Supreme Court seemingly ready to overturn Roe v. Wade, more rural and conservative states are poised to significantly restrict abortions while progressive and more urban states will look to codify abortion rights and keep their clinics open.
A post-Roe America includes expected increases in women with the economic means traveling from restrictive states to abortion-friendly states such as Oregon, California, Maryland and New York to terminate pregnancies.
Anne Udall, president and CEO of Planned Parenthood of Columbia Willamette in Portland, said Oregon could see as much as 234% increase in abortions with restrictions in Idaho and other states imposed or looming. Udall also said mobile clinics deployed to more remote and underserved areas could be part of the abortion providers' responses to higher demand and less national access for abortions.
Abortion rights advocates also say an overturned Roe and new state bans could be felt the most in rural areas and small towns where access to reproductive health care, including abortions, can already be limited.
“Red states and red counties are full of women who for this is going to be a very significant challenge for their ability to manage their lives,” said Myra Marx Ferree, a gender and women’s studies expert and former sociology professor at the University of Wisconsin. She sees the looming decision is a step back for women’s rights and sees parallels between historical gender and legal barriers related to divorce and contraception.
Opponents of abortion rights are welcoming a potential majority decision in a Mississippi abortion case that shows Supreme Court overturning Roe v. Wade and sending abortion rights to the purview of U.S. states.
“It is long past time that the court re-examine Roe, a ruling that truly was ‘legislating from the bench.' That previous activist court removed the legislative process from states and Congress, those constitutionally elected by the people to do so. It wrongly removed the legislative debate from the public and their electees that they can face and publicly question and implore,” said U.S. Rep. Doug La Malfa, a conservative Republican representing rural swaths of northern California. “Modern science and technology has repeatedly confirmed what common sense always said was true, life begins at conception. I will continue to work to protect innocent life and look forward to, instead of leaks and speculation, the actual final verdict of the Supreme Court.”
The draft opinion was leaked to media outlet Politico sparking promises of an investigation by Chief Justice John Roberts and concerns from Republicans.
“The unprecedented leak of a draft Supreme Court decision damages the trust between justices, the deliberative process and the public. This leak is a destructive act. It breaks down the ability for our highest court to freely debate amongst themselves, to ask uncomfortable or even awkward questions in their deliberations, to be themselves,” La Malfa said. “A full investigation must be done to make sure the leaker is found and punished.”
A post-Roe world
A post Roe landscape will potentially launch two stark rushes across an already divided and American landscape.
Abortion rights opponents have long sought to weaken or eliminate Roe's precedent of a federal right of privacy tied to terminating a pregnancy. Former President Donald Trump’s addition of Amy Coney Barrett, a conservative, to the Supreme Court to succeed late Justice Ruth Bader Ginsburg, a vocal abortion rights advocate, helped potentially tip the court's balance away from Roe.
“The Supreme Court is preparing to overturn Roe — the most significant and glorious news of our lifetime,” said U.S. Rep. Marjorie Taylor Greene, R-Georgia, an abortion rights opponent.
All told, as many as 28 states could significantly restrict or ban abortions and another 13 have trigger laws that could impose new restrictions if and when federal Roe protections are weakened or eliminated.
Those include populous political battlegrounds Florida, Texas, Ohio, Wisconsin and Michigan as well as rural swaths of the West and South.
"If Roe and Casey are overturned, Pro-Life Wisconsin will lead the fight to enact a total protection statutory abortion ban in Wisconsin. We will further fight to enshrine the right to life in our Wisconsin Constitution,” said Matt Sande, legislative director for Pro-Life Wisconsin, referring to precedent-setting abortion cases. “If the state constitution is not amended and a future Wisconsin Supreme Court finds a right to abortion in that document, as recently occurred with the Kansas and Iowa high courts, all our pro-life laws will be in peril. That must not happen.”
Other states as well as 2024 GOP presidential contenders are also promising actions to restrict abortions.
South Dakota GOP Gov. Kristi Noem said she would immediately call for a special legislative session to pass new abortion restrictions if the Supreme Court undoes the 1973 case legalizing abortions.
There have been more than 63 million abortions in the U.S. since 1973 when the Supreme Court legalized abortion via Roe, according to anti-abortion advocates analysis of health statistics.
Codifying abortion
Many women living in rural areas and small towns already have to travel significant miles to access abortion clinics and other reproductive health services.
Those drives will get longer with potential scenarios of wealthier women being able to travel to other states for procedures (or gain access to abortion pills) while poorer women will have fewer options if they lives in states with prohibitions.
Some progressive states and regions are promising to be abortion havens is the leaked opinion becomes a reality.
Oregon has already established a new $15 million state fund to help women come to the state to have abortions. The state money will be used to help with travel and other costs including procedures. The fund came after Idaho joined Texas, Florida, Arizona and other Republican states in approving new restrictions on abortions after six weeks.
“All Americans should have access to abortion – full stop. Abortion is health care and protected by state law in Oregon. We will fight to keep it that way, no matter what this Supreme Court decides,” said Oregon Gov. Kate Brown, a Democrat, in response to the leaked SCOTUS opinion.
Planned Parenthood officials said they work hand-and-glove with the Oregon Health Authority on maintaining access for abortions. Udall said clinics in the Northwest are seeing more anti-abortion protests at clinics.
Progressives will also push to codify abortion rights in Democratic majority states. Democrats, including Senate Majority Leader Chuck Schumer, D-N.Y., are also looking at a federal codification of Roe including a potential new constitutional amendment ensuring the right to an abortion.
A national push, however, likely lacks the votes to pass a divided Congress especially without an end to filibuster rules in the U.S. Senate.
The codification of abortion rights has been underway in a number of Democratic or “blue” states for a number of years, Ferree said. That entails broader state constitutional rights to abortion as well as state statutes and regulations related to access to and coverage for reproductive health care.
“We are proposing any amendment to enshrine the right to choose in the California constitution. We can’t trust SCOTUS to protect the right to abortion, so we’ll do it ourselves. Women will remain protected here,” California Gov. Gavin Newsom said.
Oregon codified abortion rights into state statute in 2017.
Sixteen states, including California, Washington, New York and Oregon, offer public funding for abortions while a dozen states, including Idaho, Texas and Arizona, try to restrict private insurance coverage for abortions, according to the Guttmacher Institute.
Ferree also worries about anti-abortion prosecutors and police in conservative states potentially going after telemedicine providers offering abortion pills and questions how miscarriages and behaviors such as smoking while pregnant might be approached in a post-Roe landscape.
“There will be more prosecutions of people providing the pills, for the taking the pills,” said Ferree of abortion inducing medication which has become more popular.
Five-alarm fire
Other Democratic lawmakers across the country were quick to condemn the potential Supreme Court decision as they face a challenging midterm election with the U.S. economy dealing with the highest inflation in four decades.
"This is a five-alarm fire. If this is the final decision, the United States will be one of a handful of countries in the world moving backwards on women’s rights. The overturning of Roe would mark a devastating loss of constitutionally guaranteed bodily autonomy and privacy for more than half of America,” said U.S. Sen. Ron Wyden, D-Oregon. “Let me be clear: abortion is health care. Ending this protected and established right — a right generations of women have now known and that the overwhelming majority of Americans support — would harm the health, safety, and lives of millions of women and families. This is going to be the fight of our lives, and we must use every tool at our disposal to stop this attack on constitutionally guaranteed rights."
U.S. President Joe Biden, who backs abortion rights, said the draft SCOTUS opinion could go beyond restrictions on pregnancy terminations.
“The draft opinion calls into question the fundamental right to privacy — the right to make personal choices about marriage, whether to have children, and how to raise them,” Biden said in a statement.
Some Republicans were quiet on the favorable draft ruling but more upset by the unprecedented leak of a Supreme Court opinion.
“I have no comment until the final decision is published but am disappointed that the person who leaked the information did not respect the Supreme Court’s internal rules, even if they don’t agree with the opinion,” said U.S. Rep. Andy Harris, R-Md., who represents the conservative Eastern Shore and opposes abortion rights. | https://www.heraldandnews.com/news/northwest/abortion-in-the-heartland-what-a-post-roe-v-wade-america-might-look-like/article_7ff57bbe-40df-5a10-87d6-1a921e388a64.html | 2022-05-04T01:20:52Z |
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Guinness World Records: 100-year-old man has longest career of 84 years at same company
(Gray News) - A man in Brazil is setting records for staying at the same company for over eight decades.
Last month, Walter Orthmann turned 100 years old and celebrated with his co-workers, friends, and family. He also celebrated being honored as one of the latest Guinness World Record holders.
Officials with the Guinness World Records said Orthmann has set the record for working at the same company for 84 years and nine days, as the team verified back on Jan 6.
He started working as a shipping assistant when he was fifteen years old in January 1938 at a textile company in Santa Catarina, Brazil, called Industrias Renaux S.A. The company is now known as ReneauxView.
Due to financial problems at home, Orthmann told officials he began to work to help his family. He went with his mom to apply for a job, and because of his strong proficiency in German, he was hired. And the new record holder has worked at the same company ever since.
“Back in 1938, kids were expected to work to help support the family. As the oldest son of five, my mother took me to find a job at the age of 14,” Orthmann said.
Officials said after getting his first position as a shipping assistant, Orthmann showed outstanding skills and a willingness to learn. So, he was promoted to a position in sales and became a successful sales manager.
“I was given the opportunity to work as a salesperson. I traveled to Sao Paulo, and in less than one week, I filled the production with orders equivalent to three months of work,” Orthmann said.
The 100-year-old said he believes that the best part about having a job is that it gives you a sense of purpose, commitment and a routine.
Throughout his 84 years of work, Orthmann said he has seen many things. He said one of the most important parts of the business is constantly being up-to-date and adapting to different contexts.
Officials said he is in good health, with excellent mental clarity and memory. Orthmann enjoys a calm life and exercises every day. As a result, he has maintained enough vitality and energy to drive to his favorite place every day, the office.
“You need to get busy with the present, not the past or the future. Here and now is what counts. So, let’s go to work!” Orthmann said.
Copyright 2022 Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/05/04/guinness-world-records-100-year-old-man-has-longest-career-84-years-same-company/ | 2022-05-04T01:49:52Z |
NEW YORK, May 3, 2022 /PRNewswire/ -- Atento S.A. (NYSE: ATTO) ("Atento" or the "Company"), one of the five largest providers of Customer Relationship Management and Business Process Outsourcing (CRM / BPO) services worldwide and sector leader in Latin America, announced today that its Annual Report on Form 20-F for the fiscal year ended December 31, 2021 has been filed with the U.S. Securities and Exchange Commission and is available at http://www.sec.gov or on Atento's Investor Relations website at http://investors.atento.com.
About Atento
Atento is one of the five largest global providers for client relationship management and business process outsourcing services nearshoring for companies that carry out their activities in the United States. Since 1999, the company has developed its business model in 13 countries with a workforce of 150,000 employees. Atento has over 400 clients for which it provides a wide range of CRM/BPO services through multiple channels. Its clients are leading multinational companies in the technology, digital, telecommunications, finance, health, consumer and public administration sectors, amongst others. Atento trades under ATTO on the New York Stock Exchange. In 2019 Atento was recognized by Great Place to Work® as one of the 25 World's Best Multinational Workplaces and as one of the Best Places to Work in Latin America. For more information www.atento.com
Media Relations
Investor and analyst inquiries
Hernan van Waveren
+1 979-633-9539
hernan.vanwaveren@atento.com
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "intends," "continue" or similar terminology. These statements reflect only Atento's current expectations and are not guarantees of future performance or results. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. In particular, the COVID-19 pandemic, and governments' extraordinary measures to limit the spread of the virus, are disrupting the global economy and Atento's industry, and consequently adversely affecting the Company's business, results of operation and cash flows and, as conditions are recent, uncertain and changing rapidly, it is difficult to predict the full extent of the impact that the pandemic will have. Risks and uncertainties include, but are not limited to, competition in Atento's highly competitive industries; increases in the cost of voice and data services or significant interruptions in these services; Atento's ability to keep pace with its clients' needs for rapid technological change and systems availability; the continued deployment and adoption of emerging technologies; the loss, financial difficulties or bankruptcy of any key clients; the effects of global economic trends on the businesses of Atento's clients; the non-exclusive nature of Atento's client contracts and the absence of revenue commitments; security and privacy breaches of the systems Atento uses to protect personal data; the cost of pending and future litigation; the cost of defending Atento against intellectual property infringement claims; extensive regulation affecting many of Atento's businesses; Atento's ability to protect its proprietary information or technology; service interruptions to Atento's data and operation centers; Atento's ability to retain key personnel and attract a sufficient number of qualified employees; increases in labor costs and turnover rates; the political, economic and other conditions in the countries where Atento operates; changes in foreign exchange rates; Atento's ability to complete future acquisitions and integrate or achieve the objectives of its recent and future acquisitions; future impairments of our substantial goodwill, intangible assets, or other long-lived assets; and Atento's ability to recover consumer receivables on behalf of its clients. In addition, Atento is subject to risks related to its level of indebtedness. Such risks include Atento's ability to generate sufficient cash to service its indebtedness and fund its other liquidity needs; Atento's ability to comply with covenants contained in its debt instruments; the ability to obtain additional financing; the incurrence of significant additional indebtedness by Atento and its subsidiaries; and the ability of Atento's lenders to fulfill their lending commitments. Atento is also subject to other risk factors described in documents filed by the comp any with the United States Securities and Exchange Commission.
These forward-looking statements speak only as of the date on which the statements were made. Atento undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Atento S.A. | https://www.whsv.com/prnewswire/2022/05/04/atento-files-annual-report-form-20-f-fiscal-year-2021/ | 2022-05-04T01:49:58Z |
VANCOUVER, BC, May 3, 2022 /PRNewswire/ - Delic Holdings Corp ("DELIC" or the "Company") (CSE: DELC) (OTCQB: DELCF) (FRA: 6X0), a leader in new medicines and treatments for a modern world, announces that as a result of delays to its audit, the Company's annual financial statements and accompanying management's discussion and analysis for the fiscal year ended December 31, 2021 (the "Annual Filings") are not expected to be finalized by May 2, 2022, being the date that such filings are due under applicable Canadian securities law requirements. The Company has applied for a management cease trade order (the "MCTO") by the British Columbia Securities Commission.
The reason for the anticipated delay is due to the complexity of the valuation process and accounting of one of the acquisitions completed by the Company in the fiscal year and enhanced quality controls by the issuer's auditors. The auditors have requested more time for partner and consultant review as part of those enhanced measures. The Company is working with its auditor to complete the audit in a timely manner.
The Company currently expects to file the Annual Filings on or before May 15, 2022, and will issue a news release announcing completion of such filings at such time. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the Annual Filings have not been filed.
During the MCTO, the general investing public will continue to be able to trade in the Company's listed shares. However, the Company's chief executive office and chief financial officer will not be able to trade in the Company's shares listed on the Canadian Securities Exchange.
Delic is a leader in new medicines and treatments for a modern world, improving access to health benefits across the country and reframing the conversation on psychedelics. The Company owns and operates an umbrella of related businesses, including the largest chain of psychedelic wellness clinics in the country, including Ketamine Infusion Centers and Ketamine Wellness Centers; the only licensed entity by Health Canada to exclusively focus on research and development of psilocybin vaporization technology, Delic Labs; the premier psychedelic wellness event, Meet Delic; and trusted media and e-commerce platforms Reality Sandwich and Delic Radio. Delic is backed by a team of industry and cannabis veterans and a diverse network, whose mission is to provide education, research, high-quality products, and effective treatment options to the masses.
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable Canadian and United States securities legislation (collectively "forward-looking statements"). Forward-looking information are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," "likely" and "intend" and statements that an event or result "may," "will," "should," "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements include, but are not limited to, the expectations of management with respect to the anticipated filing of the Required Filings, the timing and duration of the management cease trade order and the uncertainty of the BCSC granting an MCTO. Such forward-looking statements should not be unduly relied upon. Forward-looking information is based on assumptions that may prove to be incorrect. The Company considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those expressed or implied in the forward-looking information. For more information on the Company, its subsidiaries and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com. The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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- Award Announced at CommsDay Summit 2022 in Sydney
- CommsDay, leading Australia IT and Service Provider Technology Publication
- CommsDay Summit Premier Service Provider Event in Australia
- Award recognises Dubber's global platform which drives previously untapped value within content across the network for service providers and their customers
MELBOURNE, Australia, May 3, 2022 /PRNewswire/ -- Dubber Corporation Limited (ASX: DUB) (Dubber) is pleased to announce that it has been awarded "Cloud Technology Supplier of the Year" by CommsDay, at the CommsDay Summit in Sydney today.
The CommsDay Summit is Australia's peak service provider event, drawing over 300 delegates and speakers from the service provider industry and government. The summit returned to an in person event this year after a two-year hiatus due to the Covid-19 pandemic. Keynote speakers focussed largely on dynamic industry transition and presentations were provided by Dubber CEO Steve McGovern along with Federal Communications Minister Paul Fletcher, Shadow Communications Minister Michelle Rowland, ACCC commissioner Anna Brakey, TPG Telecom CEO Inaki Berroeta, Vocus CEO Kevin Russell and other key industry executives.
Steve McGovern, CEO, Dubber: "We are delighted to have been selected as the Best Cloud Technology Supplier by CommsDay's Edison Awards. This award is further recognition of Dubber's role as a truly global platform that is helping service providers and cloud communications platforms transform the way they think about, and deliver, their services. With leading service providers globally utilizing the Dubber platform, we believe we are uniquely placed to be able to help carriers add value to their network offerings in a completely new way, by taking advantage of the content and conversations that are traversing their networks."
Dubber's cloud-native recording and intelligence solution is built to be embedded in telecommunications networks and unified communications solutions globally, unlocking the potential in every conversation with AI-enriched conversational data. The Dubber platform has been adopted by over 170 service providers globally including Telstra, Optus, AT&T and BT.
Grahame Lynch, CommsDay Founder: "Dubber has emerged as a truly underappreciated national treasure: developing an Australian designed call recording cloud solution and successfully exporting that to 170 service providers across the entire world. They are an amazing success story."
About Dubber:
Dubber is unlocking the potential of voice data from any call or conversation directly from the network. Dubber is the world's most scalable Unified Call Recording service and Voice Intelligence Cloud adopted as core network infrastructure by multiple global leading telecommunications carriers in North America, Europe and Asia Pacific. Dubber allows service providers to offer recording from virtually any source - turning them into AI-enriched insights for compliance, revenue, customer and people intelligence. Dubber is a disruptive innovator in the multi-billion-dollar call recording industry. Its Software as a Service offering removes the need for on-premise hardware, applications or costly and limited storage.
For more information, please contact:
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SOURCE Dubber | https://www.whsv.com/prnewswire/2022/05/04/dubber-wins-best-cloud-technology-supplier-award/ | 2022-05-04T01:50:10Z |
NEW YORK, May 3, 2022 /PRNewswire/ --
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Embark Technology, Inc. f/k/a Northern Genesis Acquisition Corp. II (NASDAQ: EMBK, EMBKW, NGAB, NGAB.U, NGAB.WS) between January 12, 2021 and January 5, 2022, inclusive (the "Class Period"), of the important May 31, 2022 lead plaintiff deadline.
SO WHAT: If you purchased Embark securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Embark class action, go to https://rosenlegal.com/submit-form/?case_id=4934 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 31, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Embark had performed inadequate due diligence into Embark Trucks Inc. ("Legacy Embark"); (2) Legacy Embark and the Company, following the November 2021 merger of Legacy Embark and Northern Genesis Acquisition Corp. II (the "Business Combination"), held no patents and an insignificant number of test trucks; (3) accordingly, Embark had overstated its operational and technological capabilities; (4) as a result of all the foregoing, Embark had overstated the business and financial prospects of the Company post-Business Combination; and (5) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Embark class action, go to https://rosenlegal.com/submit-form/?case_id=4934 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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SOURCE Rosen Law Firm, P.A. | https://www.whsv.com/prnewswire/2022/05/04/rosen-global-investor-counsel-encourages-embark-technology-inc-fka-northern-genesis-acquisition-corp-ii-investors-with-losses-secure-counsel-before-important-deadline-securities-class-action-embk-embkw-ngab-ngabu-ngabws/ | 2022-05-04T01:50:16Z |
NEW YORK, May 3, 2022 /PRNewswire/ -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Cano Health, Inc. f/k/a Jaws Acquisition Corp. (NYSE: CANO) (NYSE: CANO.WS) (NYSE: JWS) (NYSE: JWS.U) (NYSE: JWS WS) between May 18, 2020 and February 25, 2022, inclusive (the "Class Period"), of the important May 17, 2022 lead plaintiff deadline.
SO WHAT: If you purchased Cano Health securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Cano Health class action, go to https://rosenlegal.com/submit-form/?case_id=4271 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 17, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Cano Health overstated its due diligence efforts and expertise with respect to acquiring target businesses; (2) accordingly, Cano Health performed inadequate due diligence into whether the Company, post-Business Combination, could properly account for the timing of revenue recognition as prescribed by ASC 606, particularly with respect to Medicare risk adjustments; (3) as a result, Cano Health misstated its capitated revenue, direct patient expense, accounts receivable, net of unpaid service provider costs, and accounts payable and accrued expenses; (4) accordingly, Cano Health was at an increased risk of failing to timely file one or more of its periodic financial reports; and (5) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Cano Health class action, go to https://rosenlegal.com/submit-form/?case_id=4271 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
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SOURCE Rosen Law Firm, P.A. | https://www.whsv.com/prnewswire/2022/05/04/rosen-leading-law-firm-encourages-cano-health-inc-fka-jaws-acquisition-corp-investors-with-losses-secure-counsel-before-important-deadline-securities-class-action-cano-canows-jws-jwsu-jws-ws/ | 2022-05-04T01:50:22Z |
SAN BERNARDINO, Calif., May 3, 2022 /PRNewswire/ -- Social Action Community Health System ("SAC Health") is providing notice of a recent event that may affect the privacy of certain patient information. This notification provides information about the event, SAC Health's response to it, and resources available to individuals to help protect their information, should they feel it necessary to do so.
What Happened? On March 4, 2022, SAC Health became aware of a break-in to an off-site storage facility where certain limited patient records were housed. Six boxes of paper documents were removed from the facility without authorization. We immediately began working with local authorities to determine the nature and scope of this event and launched a thorough investigation into this matter. SAC Health was able to confirm that certain limited patient documents were impacted by this theft.
On April 22, 2022, SAC Health determined that the impacted files related to certain patients served by SAC Health in 1997 and between 2006 and 2020. On May 3, 2022, SAC Health began notifying the potentially impacted population.
What Information Was Involved? SAC Health's analysis revealed that the types of information held by SAC Health and potentially in the stolen storage containers may include name, address, date of birth, and diagnosis codes.
How Will Individuals Know If They Are Affected By This Incident? Based on the nature of access to the information, SAC Health concluded that the extent of the access is limited to impacted files related to certain patients served by SAC in 1997 and between 2006 and 2020. Out of an abundance of caution, SAC Health is sending notice to all individuals included in that population.
What Is SAC Health Doing? Upon learning of this incident, SAC Health moved quickly to investigate and respond. SAC Health is assessing all policies and procedures related to the storage of paper data. Although SAC Health is unaware of any actual or attempted misuse of information as a result of this incident, SAC Health is offering affected individuals access to complimentary credit monitoring through Equifax. In addition, SAC Health is providing notice to appropriate regulatory authorities
Has the information been misused? At this time, there is no evidence that there has been any use, or attempted use of the information potentially exposed in this incident.
What You Can Do. SAC Health encourages individuals to remain vigilant against incidents of identity theft and fraud, to review account statements and explanation of benefits forms, and to monitor free credit reports for suspicious activity and to detect errors. Under U.S. law individuals are entitled to one free credit report annually from each of the three major credit reporting bureaus. To order a free credit report, visit www.annualcreditreport.com or call, toll-free, 1-877-322-8228. Individuals may also contact the three major credit bureaus directly to request a free copy of their credit report, place a fraud alert, or a security freeze. Contact information for the credit bureaus is below:
Individuals can further educate themselves regarding identity theft, fraud alerts, security freezes, and steps to protect their information by contacting the Federal Trade Commission or the California Attorney General. Instances of known or suspected identity theft should be reported to law enforcement and the state attorney general.
For More Information. SAC Health regrets any concern this incident may cause. If individuals have questions about the incident, they may contact SAC Health's toll-free dedicated assistance line at 877-839-2553. This toll-free line is available Monday – Friday from 6:00 am to 6:00 pm PDT. Individuals may also write to SAC Health at 250 S. G Street, San Bernardino, CA 92410.
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SOURCE Sac Health | https://www.whsv.com/prnewswire/2022/05/04/sac-health-system-impacted-by-security-incident/ | 2022-05-04T01:50:28Z |
Joe Ahern 1945-2022 Joe Ahern, age 77, died April 29, 2022 in Cheyenne, Wyoming at Davis Hospice Center. Joe was born on January 2, 1945 in Boston, Massachusetts. Joe is survived by his loving wife, Susie; his sons, Jon (Kegan) and Jeremy (Jennifer); grandchildren, Kendall, Josh, Chris and Jeff; sister, Carol Quaresma; and brother, John Ahern. He was preceded in death by his parents, Jerry and Dottie, and infant daughter, Janelle. Joe graduated in 1968 from Biola University. He retired from the State of Wyoming and previously worked for IBM, Honeywell, and several other companies. Joe was a loving husband, father, grandfather and brother. His greatest joys in life were spending time with his family, playing all kinds of sports, manicuring his yard, making and devouring cheeseburgers, smoking his pipe in the garage, and embellishing every story he told. Joe was also a master at using his unconventional golf swing to find all available trees on a golf course, beating guys half his age on the handball and racquetball courts, and frustrating his tennis opponents with his bag of quirky trick shots and "big guy" hustle. A memory service to celebrate Joe's life will be held on Saturday, May 7, 2022 at 4:00 p.m. at the Lakeview Chapel at Schrader, Aragon & Jacoby Funeral Home. A reception will follow at the Schrader Reception Center. At the request of Joe's family, and consistent with how Joe lived his life, please dress comfortably for the service. In lieu of flowers, donations may be made to Davis Hospice Center, 6000 Sycamore Road, Cheyenne, WY 82009. Condolences may be offered to the family on-line at www.schradercares.com. | https://www.wyomingnews.com/milestones/obituaries/ahern-joe/article_bde35b78-ff3b-5668-825d-c3b0db1c6965.html | 2022-05-04T01:52:03Z |
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Bonnie J (Grubb) Martens 1947-2022 Bonnie Jo (Grubb) Martens , 74, of Cheyenne, passed away at her home on April 30. She was born July 7, 1947, Sundance Wyoming to Glenn and Betty Grubb. Bonnie graduated from East High in 1965 and went on to complete cosmetology school at Cheeks Beauty Academy. She married her husband of 40 years Willard (Marty) of California. Bonnie was self-employed for many years as a private housekeeper while living in California and was active with her five children in soccer, as a leader in AWANA, and enjoyed square dancing all over the central valley. After returning to Cheyenne, Bonnie was employed by Magic City and worked as a coach with developmentally disabled adults. Her love and care for her clients kept her busy well beyond retirement age. She is survived by her children, Marty and Ariel (Speer), Mynda and Kenneth Camphouse, Micah and Tiffany (Hotz), Mead and Jenn (Charlson), Mason and Kirsten (Hinz); grandchildren, Riana, Chris, Evan, Cameron, Kaitlyn, Alyson, Mathias, Kairi, Emiko, Darion, Devin, Lily, Cyrus, Leah; and sister, Susan Grubb. Bonnie was proceeded in death by her parents and husband. Services will be held at Wiederspahn- Radomsky Chapel on Thursday, May 5, at 10:00am. To send the family condolences please visit www.wrcfuneral.com
To plant a tree in memory of Bonnie Martens as a living tribute, please visit Tribute Store. | https://www.wyomingnews.com/milestones/obituaries/martens-bonnie-j/article_a5c71632-bcf0-537d-89d6-a76dcc2d833e.html | 2022-05-04T01:52:34Z |
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People's Rep'c of Guinea-Bissau, Republic of Guyana, Republic of Heard and McDonald Islands Holy See (Vatican City State) Honduras, Republic of Hong Kong, Special Administrative Region of China Hrvatska (Croatia) Hungary, Hungarian People's Republic Iceland, Republic of India, Republic of Indonesia, Republic of Iran, Islamic Republic of Iraq, Republic of Ireland Israel, State of Italy, Italian Republic Japan Jordan, Hashemite Kingdom of Kazakhstan, Republic of Kenya, Republic of Kiribati, Republic of Korea, Democratic People's Republic of Korea, Republic of Kuwait, State of Kyrgyz Republic Lao People's Democratic Republic Latvia Lebanon, Lebanese Republic Lesotho, Kingdom of Liberia, Republic of Libyan Arab Jamahiriya Liechtenstein, Principality of Lithuania Luxembourg, Grand Duchy of Macao, Special Administrative Region of China Macedonia, the former Yugoslav Republic of Madagascar, Republic of Malawi, Republic of Malaysia Maldives, Republic of Mali, Republic of Malta, Republic of Marshall Islands Martinique Mauritania, Islamic Republic of Mauritius Mayotte Micronesia, Federated States of Moldova, Republic of Monaco, Principality of Mongolia, Mongolian People's Republic Montserrat Morocco, Kingdom of Mozambique, People's Republic of Myanmar Namibia Nauru, Republic of Nepal, Kingdom of Netherlands Antilles Netherlands, Kingdom of the New Caledonia New Zealand Nicaragua, Republic of Niger, Republic of the Nigeria, Federal Republic of Niue, Republic of Norfolk Island Northern Mariana Islands Norway, Kingdom of Oman, Sultanate of Pakistan, Islamic Republic of Palau Palestinian Territory, Occupied Panama, Republic of Papua New Guinea Paraguay, Republic of Peru, Republic of Philippines, Republic of the Pitcairn Island Poland, Polish People's Republic Portugal, Portuguese Republic Puerto Rico Qatar, State of Reunion Romania, Socialist Republic of Russian Federation Rwanda, Rwandese Republic Samoa, Independent State of San Marino, Republic of Sao Tome and Principe, Democratic Republic of Saudi Arabia, Kingdom of Senegal, Republic of Serbia and Montenegro Seychelles, Republic of Sierra Leone, Republic of Singapore, Republic of Slovakia (Slovak Republic) Slovenia Solomon Islands Somalia, Somali Republic South Africa, Republic of South Georgia and the South Sandwich Islands Spain, Spanish State Sri Lanka, Democratic Socialist Republic of St. Helena St. Kitts and Nevis St. Lucia St. Pierre and Miquelon St. Vincent and the Grenadines Sudan, Democratic Republic of the Suriname, Republic of Svalbard & Jan Mayen Islands Swaziland, Kingdom of Sweden, Kingdom of Switzerland, Swiss Confederation Syrian Arab Republic Taiwan, Province of China Tajikistan Tanzania, United Republic of Thailand, Kingdom of Timor-Leste, Democratic Republic of Togo, Togolese Republic Tokelau (Tokelau Islands) Tonga, Kingdom of Trinidad and Tobago, Republic of Tunisia, Republic of Turkey, Republic of Turkmenistan Turks and Caicos Islands Tuvalu Uganda, Republic of Ukraine United Arab Emirates United Kingdom of Great Britain & N. Ireland Uruguay, Eastern Republic of Uzbekistan Vanuatu Venezuela, Bolivarian Republic of Viet Nam, Socialist Republic of Wallis and Futuna Islands Western Sahara Yemen Zambia, Republic of Zimbabwe | https://www.wyomingnews.com/milestones/obituaries/trammell-george-lee/article_8785d355-735e-544b-8add-274bb186236e.html | 2022-05-04T01:52:52Z |
CHEYENNE – This city's K-12 public school system has appointed principals at two elementary schools and one middle school.
Laramie County School District 1 announced Tuesday that, during their meeting the night before, the Board of Trustees approved the personnel moves.
Not all of the moves amounted to big changes, however.
Meadowlark Elementary's Jennifer Leman, who was assistant principal and interim head principal this year, now has been OK'd to be the school's next principal. She previously taught fifth and sixth grades there, and also taught at other schools.
At Bain Elementary, Tiffany Rehbein has been hired by LCSD1 as principal. She has been interim principal at "Bain this year, as well as in the spring of 2019. She was also" the district’s "English language arts curriculum coordinator," according to the school system.
Deandra Tygret was successfully recommended to the school board to be associate principal of McCormick Junior High. "She has been a social worker in the district since 2015 serving McCormick, Central High and Rossman Elementary," LCSD1 said.
For Leman, Rehbein and Tygret, there was "a thorough hiring process, which included an interview and recommendations from a diverse selection committee," the school system said. | https://www.wyomingnews.com/news/in_our_schools/laramie-county-school-district-1-appoints-3-school-administrators/article_542a9f8f-2aaf-53de-af73-fe56649b290b.html | 2022-05-04T01:52:58Z |
Video confession of man accused of killing Port Huron woman played at jury trial
A video of a police interview in which Dustin Tucker described how he killed a Port Huron woman was played at his jury trial Tuesday.
St. Clair County Assistant Prosecutor Joshua Sparling showed the police interview between Port Huron Police Detective Chad Smith and Tucker shortly after the crime took place.
Tucker first denied his involvement in the crime, stating Danielle Smith, the victim, wasn't home when he went by her Division Street house on May 28, 2021.
Tucker later said there was a confrontation at Danielle Smith's home about rumors involving the two of them that had been circulating on social media. He said he pushed her down and dragged her to the basement. She woke up while in the basement and began talking, he said.
"I remember hitting her head once and she just stopped moving," Tucker said on the recording.
Tucker said he then put gas on a towel and put the towel on Smith.
When asked if he felt remorseful, Tucker said he regretted his actions.
"I know I'm going to jail," Tucker said on the video.
Chad Smith, now a sergeant with the police department, also reviewed surveillance footage that showed a black vehicle coming to the Division Street home twice on May 28, 2021, and a single subject entering the home several times. The last time the subject left, the back door showed an orange glow from inside the home.
The prosecution rested its case shortly after 4 p.m. Tuesday. The trial is scheduled to continue Wednesday morning.
Tucker is charged with open murder, second-degree arson and unlawful imprisonment.
If convicted, he faces a maximum sentence of life in prison.
Smith, 28, was found dead on May 29, 2021, following a fire in her home in the 1800 block of Division Street.
Police later executed a search warrant at a home in Port Huron Township where Tucker lived before his arrest.
The St. Clair County medical examiner ruled the death of homicide, stating Smith most likely died by strangulation.
Contact Laura Fitzgerald at (810) 941-7072 or lfitzgeral@gannett.com. | https://www.thetimesherald.com/story/news/2022/05/03/tuckers-video-confession-played-jury-trial/9613376002/ | 2022-05-04T01:56:33Z |
Dunkin’ lawsuit: Woman suing on claims of severe burns after drive-thru coffee spill
DELRAN, N.J. (KYW) - A New Jersey woman is suing a major coffee chain after a morning coffee run left her with severe burns.
Samantha Picklo said she ordered three cups of coffee and a couple of wake-up wraps that morning. She pulled up past the drive-thru window, and a worker came outside with her coffee tray.
“As he tried to pass it to me, before I could even take it from him, I watched as the extra-large cup of coffee just fell forward,” Picklo said. “And then the other two fell right on me.”
Paramedics prepared to take Picklo to the hospital while a police officer interviewed store workers.
“I never felt such a pain in my life,” Picklo said.
She said she spent three days recovering in the Jefferson Burn Center.
Picklo’s attorney Paul D’Amato claims the lawsuit is the first of its kind in the nation because it focuses on the coffee cup tray and not just on the coffee’s temperature.
“All the industry has to do is have a holder that has higher sides and is more secure,” D’Amato said.
He says they’re also looking into who makes Dunkin’s coffee trays and adding them to the lawsuit.
“Her goal, as well as her husband’s goal, is to prevent this from happening to other people in the future,” D’Amato said.
The lawsuit is seeking an unspecified amount of money for what Picklo said she went through after the quick coffee run led to months of challenges.
“There’s a constant pain, and I have PTSD almost,” Picklo said.
In the 1990s, a woman sued McDonald’s after she was severely burned by hot coffee. That woman received nearly $3 million.
Copyright 2022 KYW via CNN Newsource. All rights reserved. | https://www.wvva.com/2022/05/04/dunkin-lawsuit-woman-suing-claims-severe-burns-after-drive-thru-coffee-spill/ | 2022-05-04T02:48:23Z |
Dunkin’ lawsuit: Woman suing on claims of severe burns after drive-thru coffee spill
DELRAN, N.J. (KYW) - A New Jersey woman is suing a major coffee chain after a morning coffee run left her with severe burns.
Samantha Picklo said she ordered three cups of coffee and a couple of wake-up wraps that morning. She pulled up past the drive-thru window, and a worker came outside with her coffee tray.
“As he tried to pass it to me, before I could even take it from him, I watched as the extra-large cup of coffee just fell forward,” Picklo said. “And then the other two fell right on me.”
Paramedics prepared to take Picklo to the hospital while a police officer interviewed store workers.
“I never felt such a pain in my life,” Picklo said.
She said she spent three days recovering in the Jefferson Burn Center.
Picklo’s attorney Paul D’Amato claims the lawsuit is the first of its kind in the nation because it focuses on the coffee cup tray and not just on the coffee’s temperature.
“All the industry has to do is have a holder that has higher sides and is more secure,” D’Amato said.
He says they’re also looking into who makes Dunkin’s coffee trays and adding them to the lawsuit.
“Her goal, as well as her husband’s goal, is to prevent this from happening to other people in the future,” D’Amato said.
The lawsuit is seeking an unspecified amount of money for what Picklo said she went through after the quick coffee run led to months of challenges.
“There’s a constant pain, and I have PTSD almost,” Picklo said.
In the 1990s, a woman sued McDonald’s after she was severely burned by hot coffee. That woman received nearly $3 million.
Copyright 2022 KYW via CNN Newsource. All rights reserved. | https://www.whsv.com/2022/05/04/dunkin-lawsuit-woman-suing-claims-severe-burns-after-drive-thru-coffee-spill/ | 2022-05-04T03:23:11Z |
Spotswood gets revenge vs. Harrisonburg in Valley District boys soccer action
HARRISONBURG, Va. (WHSV) - The Spotswood boys soccer team avenged a loss to Harrisonburg earlier this season with a victory Tuesday night.
Daniel Romanchuk scored a goal early in the second half while Aiden Grefe recorded multiple, critical saves in a 1-0 victory for SHS at HHS Tuesday evening. Spotswood lost to Harrisonburg, 3-0, earlier this season in Penn Laird.
Following Tuesday’s result, the Trailblazers and Blue Streaks are tied for first place in the Valley District standings. Spotswood improves to 10-2-1 overall (5-1 Valley District) while Harrisonburg drops to 7-4-3 overall (5-1 Valley District).
Wilson Memorial dominates in matchup of Shenandoah District baseball leaders
The Wilson Memorial baseball team remains unbeaten in Shenandoah District play following a 14-0 victory over Stuarts Draft Tuesday night in Fishersville. The Green Hornets grabbed control of the game with a 10-run second inning.
Wilson Memorial improves to 10-4 overall (7-0 Shenandoah District) while Stuarts Draft falls to 8-6 overall (6-2 Shenandoah District).
To see more high school spring sports scores from Tuesday night, click here.
Copyright 2022 WHSV. All rights reserved. | https://www.whsv.com/2022/05/04/spotswood-gets-revenge-vs-harrisonburg-valley-district-boys-soccer-action/ | 2022-05-04T03:23:18Z |
CHICAGO, May 3, 2022 /PRNewswire/ -- The African Methodist Episcopal Church (AME Church) and the Alzheimer's Association recently announced it is renewing their nationwide partnership, aimed at educating and engaging more than 2 million U.S.-based AME Church members in the fight against Alzheimer's, for five more years.
Since the partnership began in 2019, more than 1,600 AME Church members have attended dementia education programs. In addition, more than 5,000 AME Church members have participated in Connectional Purple Sunday events, which provide AME members with disease-related information and care and support resources available through the Alzheimer's Association.
"Diversity, equity and inclusion are fundamental to the pursuit of our mission," said Dr. Carl V. Hill, Chief Diversity, Equity and Inclusion Officer, Alzheimer's Association. "Our work with the AME Church and other organizations that represent and advocate for underserved communities enables us to expand our outreach, providing more people with resources and support to address the Alzheimer's and other dementia crises."
According to the Alzheimer's Association, older Black Americans are twice as likely to develop Alzheimer's disease than White Americans. Black Americans are also less likely to receive a timely diagnosis, with many receiving a diagnosis much later in the disease, when their medical needs are greater.
"It is our desire to create forums that educate while shining a light on the abundance of AME professionals who are trained and qualified to lead, guide and direct us on a wide variety of (holistic) health topics," said Dr. Miriam Burnett, Medical Director, AME Church International Health Commission. "We are grateful that we are positioned and excel in providing health education and promotion activities as well as potential services. As a result of this collaboration there would be expanded community outreach efforts; expanded awareness of support services for families affected by Alzheimer's; expanded opportunities to promote and influence dementia related public policy; expanded awareness to increase knowledge of Alzheimer's risks and symptoms; and expanded support for Alzheimer's programming and research."
About the Alzheimer's Association®
The Alzheimer's Association is a worldwide voluntary health organization dedicated to Alzheimer's care, support and research. Our mission is to lead the way to end Alzheimer's and all other dementia – by accelerating global research, driving risk reduction and early detection, and maximizing quality care and support. Our vision is a world without Alzheimer's and all other dementia. Visit alz.org or call (800) 272-3900.
About the African Methodist Episcopal Church
The African Methodist Episcopal (AME) Church is the oldest and one of the largest historically African-American denominations in the country. The church has more than 2.5 million members across five continents in 39 countries located in 20 Episcopal districts. More than 2 million members reside in the US across 13 Episcopal districts. It remains one of the largest Methodist denominations in the world. The AME church has consistently advocated for the civil and human rights affecting individuals of African descent through social improvement, religious autonomy, and political engagement. Visit www.amechealth.org/alz.
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SOURCE Alzheimer’s Association | https://www.whsv.com/prnewswire/2022/05/04/african-methodist-church-alzheimers-association-renew-strategic-partnership-raise-awareness-alzheimers-disease-black-american-communities/ | 2022-05-04T03:23:24Z |
- ACI makes appeal to Pinterest to help promote safe liquid laundry packet storage: "Safety Over Style"
- View Pinterest Advertisements
- Learn More About ACI's Store Not Décor Efforts
WASHINGTON, May 3, 2022 /PRNewswire/ -- The American Cleaning Institute (ACI) is urging popular social media platforms to help combat the spread of unsafe cleaning product storage trends that can put families at risk. ACI's initial appeal is to Pinterest due to the large number of potentially hazardous laundry room home organization visuals that are on the platform.
Home organization has skyrocketed in popularity since the pandemic, as many Americans transformed their homes from a place to sleep and eat to a gym, school, community center or office. Social media platforms, like Pinterest and Instagram, made home organization accessible and provided examples of how to make it aesthetically pleasing in addition to functional. One common trend sweeping the organization space, storing liquid laundry packets and other cleaning products in glass or clear plastic containers, may look nice, but it creates a serious safety hazard for young children and older adults with cognitive disorders.
A recent ACI survey found 30% of Americans reported seeing social media posts where cleaning products or liquid laundry packets were stored outside of their original packaging (e.g., in clear or glass jars for decoration). Of those who have seen these types of posts on social media, 68% said they have tried or considered trying a new storage idea for cleaning products that they saw online.
To combat unsafe storage practices, ACI launched a series of Pinterest Ads emphasizing the importance of safe storage, calling out the dangerous trend, and pointing social media users back to helpful storage tips and resources.
In addition, ACI and its member companies penned a letter to the Pinterest Executive Committee alerting them to the trend and flagging Pinterest's role in promoting safety and curbing the spread of dangerous practices.
"Laundry detergent packets and all cleaning products should always be kept in their original containers and stored out of sight and reach of children," said Brian Sansoni, ACI Senior Vice President, Communications and Outreach. "As part of our Packets Up mission to raise awareness of safe liquid laundry packets storage, we are bringing this issue to the attention of Pinterest to hopefully get their support in promoting safety over style."
As an extension of ACI's Packets Up campaign, the Store Not Décor challenge raises awareness of this unsafe storage trend and educates on the importance of proper storage of liquid laundry packets and other cleaning products. ACI leverages a variety of parenting, home organizers, and health and science-based influencers to educate and engage with consumers on safe storage messages across Facebook, Instagram, TikTok, Twitter and Pinterest.
For more information and to learn more about ACI's work promoting safe storage, visit PacketsUp.com. The newly refreshed website features educational resources and highlights partner collaborations offering tips for creating a safe and functional laundry space.
The American Cleaning Institute® (ACI – www.cleaninginstitute.org) is the Home of the U.S. Cleaning Products Industry® and represents the $60 billion U.S. cleaning product supply chain. ACI members include the manufacturers and formulators of soaps, detergents, and general cleaning products used in household, commercial, industrial and institutional settings; companies that supply ingredients and finished packaging for these products; and chemical distributors. ACI serves the growth and innovation of the U.S. cleaning products industry by advancing the health and quality of life of people and protecting our planet. ACI achieves this through a continuous commitment to sound science and being a credible voice for the cleaning products industry.
These findings emerged from an Ipsos poll conducted February 16 – 17, 2022, on behalf of the American Cleaning Institute. For the survey, a sample of 1,005 adults ages 18 and over from the continental U.S., Alaska and Hawaii was interviewed online in English. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll has a credibility interval of plus or minus 3.8 percentage points for all respondents.
Media Contact
Kate Worthy
Email: kworthy@brgcommunications.com
Phone: 703-739-8376
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SOURCE American Cleaning Institute | https://www.whsv.com/prnewswire/2022/05/04/american-cleaning-institute-urges-social-media-platforms-take-stand-against-unsafe-home-organization-visuals/ | 2022-05-04T03:23:30Z |
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