Market Newsdesk

BEIJING, March 27, 2023 (GLOBE NEWSWIRE) — NaaS Technology Inc. (“NaaS” or the “Company”) (Nasdaq: NAAS), one of the largest and fastest growing electric vehicle charging service providers in China, today reported its adjusted unaudited financial results for the quarter and six months ended June 30, 2022.

The Company has adjusted its unaudited financial results for the quarter and six months ended June 30, 2022 originally reported on August 22, 2022 to correct the presentation of revenues to be consistent with the Company’s recognition and measurement policy for each class of revenues and reflect other adjustments that the Company found necessary or appropriate, including mainly the following:

• revising the presentation of gross revenues, incentive to end-users, and net revenues.
• revising the measurement policy for revenue from membership program and full station operation.
• updating IFRIC 23 provisions on corporate income tax.
• updating certain value added tax (“VAT”) related balances, revising the method of estimating the recoverability of uncollected input VAT receipts, and adjusting previously recognized provision.
• revising to recognize the share-based compensation related to the share awards granted by Newlink Technology Limited to certain of our employees.
• updating share-based compensation and equity-settled listing costs.
• reclassifying between expenses and between balance sheet line items.

The unaudited financial results for the quarter and six months ended June 30, 2022 reported below reflect the above adjustments.

In addition, the Company has restated (i) the combined financial statements of Dada Auto Inc. as of and for the years ended December 31, 2020, and 2021, and (ii) the pro forma condensed combined statement as of and for the year ended December 31, 2021, each included in the Company’s shell company report on Form 20-F originally filed with the SEC on June 16, 2022 (the “Shell Company Report”). Such restated financial statements are included in the Amendment No. 1 to the Shell Company Report filed by the Company on March 27, 2023.

Second Quarter 2022 and First Half 2022 Financial Highlights:

• Net revenues grew by 558% year over year and reached RMB21.8 million (US$3.3 million) in the second quarter of 2022. Net revenues of the first half of 2022 were RMB36.5 million (US$5.5 million), increasing by 592% year over year¹.
• Total operating costs were RMB533.8 million (US$79.7 million) in the second quarter of 2022 and RMB640.0 million (US$95.5 million) in the first half of the year, as compared with RMB85.9 million and RMB122.3 million for the same periods of 2021,respectively.
• Net loss was RMB575.4 million (US$85.9 million) for the second quarter of 2022 and RMB671.3 million (US$100.2 million) for the first half of 2022, as compared to net loss of RMB85.4 million and RMB120.6 million for the same periods of 2021, respectively.
• Non-IFRS net loss² was RMB91.6 million (US$13.7 million) in the second quarter of 2022 and RMB148.9 million (US$22.2 million) for the first half of 2022, representing a year over year increase of 7% and 23%, respectively.

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¹In accordance with the IFRS rules, Dada Auto was considered for accounting purposes to be the successor company upon the consummation of the Merger Transactions (defined below) and consequently the Company reports the financial results of Dada Auto as the Company’s historical financial results for the three and six months ended June 30, 2021.
²Non-IFRS net loss was arrived at after excluding equity-settled listing costs, share-based compensation expenses, fair value changes of convertible and redeemable preferred shares and fair value changes of financial assets at fair value through profit or loss. Please refer to the section titled “Unaudited reconciliations of IFRS and non-IFRS results” for details.

Second Quarter and First Half 2022 Financial Results:

Net Revenues

Net revenues reached RMB36.5 million (US$5.5 million) in the first half year of 2022, including RMB21.8 million (US$3.3 million) in the second quarter, representing an increase of 592% and 558% year over year respectively. The rapid increase was mainly the result of increases in platform order volumes and continued improvements in operations.

Net revenues from online EV charging solutions contributed RMB19.3 million (US$2.9 million) in the first half of the year and RMB11.7 million (US$1.7 million) in the second quarter of 2022, with growth rates of 440% and 404% year over year respectively. The increase was primarily attributable to an overall increase of charging volume completed through NaaS’ network.

Offline EV charging net revenues increased significantly by 972% year over year to RMB17.0 million (US$2.5 million) in the first half year of 2022, including RMB10.0 million (US$1.5 million) generated in the second quarter, which grew by 973% from the same period of 2021. The increase was primarily driven by the growth in the full station operation business as well as the hardware procurement business.

Net revenues from non-charging solutions and other services increased by 56% year over year to RMB0.2 million (US$27 thousand) in the first half year of 2022, primarily due to the growth of the online advertisement business. The revenue generated in the second quarter was RMB0.1 million (US$15 thousand), representing an increase of 76% year over year.

Operating costs

Total operating costs were RMB640.0 million (US$95.5 million) in the first half of the year and RMB533.8 million (US$79.7 million) in the second quarter of 2022, as compared with RMB122.3 million and RMB85.9 million for the same periods of 2021. The significant increase was mainly due to the Company recording RMB298.0 million (US$44.5 million) of equity-settled listing costs and RMB166.7 million (US$24.9 million) of share-based compensation expenses in the first half of 2022.

Cost of revenues in the first half year of 2022 was RMB35.7 million (US$5.3 million), increasing by 473% year over year. Cost of revenues for the second quarter of 2022 was RMB25.0 million (US$3.7 million), increasing by 657% year over year. The increases were primarily due to the increase in technical and information service fee, as the Company has involved a third party to provide data service since April, 2022.

Selling and marketing expenses in the first half of 2022 were RMB99.0 million (US$14.8 million), remaining relatively stable as compared with the first half of 2021. Selling and marketing expenses were RMB52.6 million (US$7.8 million) in the second quarter of 2022, representing a decrease of 23% year over year. The decrease was the result of decreased marketing and promotion fees, partly offset by an increase in labor costs.

Administrative expenses increased to RMB491.2 million (US$73.3 million) in the first half of 2022, as compared to RMB11.2 million for the same period of 2021. RMB449.7 million (US$67.1 million) was recorded in the second quarter of 2022, as compared with RMB6.5 million for the same period of 2021. The significant increase was mainly due to the Company recording RMB298.0 million of equity-settled listing costs which occurred during the Merger Transactions (defined below), and a total of RMB166.7 million (of which RMB122.9 million occurred in the second quarter) of share-based compensation expenses.

Research and development expenses were RMB14.1 million (US$2.1 million) in the first half of 2022, remaining relatively stable compared with the same period of 2021. Research and development expenses were RMB6.5 million (US$1.0 million) in the second quarter of 2022, representing a 17% decrease year over year, which was mainly attributable to a reduction in in-house research and development personnel costs.

Finance costs

Finance costs were RMB9.3 million (US$1.4 million) in the first half of 2022, and a RMB0.4 million (US$0.1 million) of finance costs occurred in the second quarter, compared with finance costs of RMB0.3 million and RMB0.2 million for the same periods of 2021, respectively. The increase of finance costs was primarily attributable to spending in financing activities.

Income tax expenses

Income tax expenses were RMB3.6 million (US$0.5 million) in the first half of 2022, compared with income tax expenses of RMB3.3 million in the first half of 2021.

Net loss and non-IFRS net loss

Net loss for the first half of 2022 was RMB671.3 million (US$100.2 million), and for the second quarter was RMB575.4 million (US$85.9 million), as compared with net loss of RMB120.6 million and RMB85.4 million for the same periods of 2021. The significant increase was mainly due to the recorded equity-settled listing costs, share-based compensation expenses and fair value changes of convertible and redeemable preferred shares in 2022. Non-IFRS net loss was RMB148.9 million (US$22.2 million) for the first half year of 2022 and RMB91.6 million (US$13.7 million) for the second quarter of 2022, representing a year to year increase of 23% and 7%, respectively, from the same periods of 2021. Please refer to the section titled “Unaudited reconciliations of IFRS and non-IFRS results” for details.

Exchange Rate

This announcement contains translations of certain RMB amounts into U.S. dollars (“USD”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB6.6981 to US$1.00, the noon buying rate in effect on June 30, 2022, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred to could be converted into USD or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release.

Non-IFRS Financial Measure

The Company uses non-IFRS net profit/loss for the period, which is a non-IFRS financial measure, in evaluating its operating results and for financial and operational decision-making purposes. NaaS believes that non-IFRS net profit/loss helps identify underlying trends in the Company’s business that could otherwise be distorted by the effect of certain expenses that the Company includes in its profit for the period. NaaS believes that non-IFRS net profit/loss for the period provides useful information about its results of operations, enhances the overall understanding of its past performance and future prospects and allows for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.

Non-IFRS net profit/loss for the period should not be considered in isolation or construed as an alternative to operating profit, net profit for the period or any other measure of performance or as an indicator of its operating performance. Investors are encouraged to review non-IFRS net profit/loss for the period and the reconciliation to its most directly comparable IFRS measure. Non-IFRS net profit/loss for the period presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. NaaS encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.

Non-IFRS net profit/loss for the period represents profit/loss for the period excluding equity-settled listing costs, share-based compensation expenses, fair value changes of convertible and redeemable preferred shares, and fair value changes of financial assets at fair value through profit or loss.

Merger Transactions

On June 10, 2022, RISE Education Cayman Ltd, the Company’s predecessor, completed the merger and other related transactions (the “Merger Transactions”) with Dada Auto Inc. (“Dada”), as a result of which Dada became a wholly-owned subsidiary of the Company and the Company assumed and began conducting the principal business of Dada. The name of the Company was changed from “RISE Education Cayman Ltd” to “NaaS Technology Inc.” and its ticker was changed from “REDU” to “NAAS.”

About NaaS Technology Inc.

NaaS Technology Inc. is one of the largest and fastest growing EV charging service providers in China. The Company is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. NaaS provides one-stop services to charging pile manufacturers and operators, OEMs, companies with their own delivery fleets as well as fleet operators, with online, offline, and non-electric services covering the whole value chain across the EV sector. As of December 31, 2022, NaaS had connected over 515,000 chargers. In 2022, charging volume transacted through Company’s network reached 2,753 GWh and gross transaction value reached RMB2,701 million, representing an increase of 123% and 126% compared with 2021, respectively. On June 13, 2022, the American depositary shares of the Company started trading on Nasdaq under the stock code NAAS.

Safe Harbor Statement

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: NaaS’ goals and strategies; its future business development, financial conditions and results of operations; its ability to continuously develop new technology, services and products and keep up with changes in the industries in which it operates; growth of China’s EV charging industry and EV charging service industry and NaaS’ future business development; demand for and market acceptance of NaaS’ products and services; NaaS’ ability to protect and enforce its intellectual property rights; NaaS’ ability to attract and retain qualified executives and personnel; the ongoing COVID-19 pandemic and the effects of government and other measures seeking to contain its spread; U.S.-China trade war and its effect on NaaS’ operation, fluctuations of the RMB exchange rate, and NaaS’ ability to obtain adequate financing for its planned capital expenditure requirements; NaaS’ relationships with end-users, customers, suppliers and other business partners; competition in the industry; relevant government policies and regulations related to the industry; and fluctuations in general economic and business conditions in China and globally. Further information regarding these and other risks is included in NaaS’ filings with the SEC.

For investor and media inquiries, please contact:

Investor Relations
NaaS Technology Inc.
Email: [email protected]

Media inquiries:
E-mail: [email protected]

__________________________

NAAS TECHNOLOGY INC.

UNAUDITED CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS

		For the Three Months Ended												For the Six Months Ended
		June 30, 2021				June 30, 2022								June 30, 2021				June 30, 2022
(In thousands, except for share and per share data)		RMB				RMB				US$				RMB				RMB				US$
Net Revenues from Online EV Charging Solutions			2,324				11,722				1,750				3,576				19,327				2,885
Net Revenues from Offline EV Charging Solutions			930				9,980				1,490				1,589				17,039				2,544
Net Revenues from Non-Charging Solutions and Other Services			59				104				15				114				178				27
Net Revenues			3,313				21,806				3,255				5,279				36,544				5,456
Other gain, net			17				1,927				288				88				2,608				389
Operating costs
Cost of revenues			(3,297	)			(24,960	)			(3,726	)			(6,224	)			(35,671	)			(5,326	)
Selling and marketing expenses			(68,215	)			(52,562	)			(7,847	)			(90,793	)			(99,041	)			(14,786	)
Administrative expenses			(6,509	)			(449,688	)			(67,137	)			(11,188	)			(491,191	)			(73,333	)
Research and development expenses			(7,852	)			(6,547	)			(977	)			(14,118	)			(14,052	)			(2,098	)
Total operating costs			(85,873	)			(533,757	)			(79,687	)			(122,323	)			(639,955	)			(95,543	)
Operating loss			(82,543	)			(510,024	)			(76,144	)			(116,956	)			(600,803	)			(89,698	)
Finance costs			(163	)			(420	)			(63	)			(331	)			(9,260	)			(1,383	)
Fair value changes of convertible and redeemable preferred shares			—				(64,525	)			(9,633	)			—				(59,393	)			(8,867	)
Fair value changes of financial assets at fair value through profit or loss			—				1,753				262				—				1,753				262
Net loss before income tax			(82,706	)			(573,216	)			(85,578	)			(117,287	)			(667,703	)			(99,686	)
Income tax expenses			(2,670	)			(2,165	)			(323	)			(3,346	)			(3,579	)			(534	)
Net loss for the year			(85,376	)			(575,381	)			(85,901	)			(120,633	)			(671,282	)			(100,220	)
Net loss attributable to:
Equity holders of the Company			(85,376	)			(575,381	)			(85,901	)			(120,633	)			(671,282	)			(100,220	)
Basic and diluted loss per share for loss attributable to the ordinary equity holders of the Company (Expressed in RMB per share)
Basic			(518.20	)			(0.32	)			(0.05	)			(732.19	)			(0.39	)			(0.06	)
Diluted			(518.20	)			(0.32	)			(0.05	)			(732.19	)			(0.39	)			(0.06	)
Basic and diluted loss per ADS for loss attributable to the ordinary shareholders of the Company (Expressed in RMB per ADS)
Basic			(5,182.00	)			(3.16	)			(0.47	)			(7,321.86	)			(3.86	)			(0.58	)
Diluted			(5,182.00	)			(3.16	)			(0.47	)			(7,321.86	)			(3.86	)			(0.58	)
Weighted average number of ordinary shares outstanding-basic			164,755				1,818,446,889				1,818,446,889				164,755				1,740,412,875				1,740,412,875
Weighted average number of ordinary shares outstanding-diluted			164,755				1,818,446,889				1,818,446,889				164,755				1,740,412,875				1,740,412,875

NAAS TECHNOLOGY INC.

UNAUDITED RECONCILIATIONS OF IFRS AND NON-IFRS RESULTS

		For the Three Months Ended												For the Six Months Ended
		June 30, 2021				June 30, 2022								June 30, 2021				June 30, 2022
(In thousands, except for share and per share data)		RMB				RMB				US$				RMB				RMB				US$
Reconciliation of Adjusted net loss attributable to ordinary shareholders of the Company to Net loss attributable to ordinary shareholders of the Company
Net loss attributable to ordinary shareholders of the Company			(85,376	)			(575,381	)			(85,901	)			(120,633	)			(671,282	)			(100,220	)
Add: Equity-settled listing costs			—				298,032				44,495				—				298,032				44,495
Share-based compensation expenses			—				122,936				18,354				—				166,686				24,886
Fair value changes of convertible and redeemable preferred shares			—				64,525				9,633				—				59,393				8,867
Fair value changes of financial assets at fair value through profit or loss			—				(1,753	)			(262	)			—				(1,753	)			(262	)
Adjusted net loss attributable to ordinary shareholders of the Company			(85,376	)			(91,641	)			(13,681	)			(120,633	)			(148,924	)			(22,234	)
Adjusted net basic and diluted loss per share for loss attributable to the ordinary shareholders of the Company (Expressed in RMB per share)
Basic			(518.20	)			(0.05	)			(0.01	)			(732.19	)			(0.09	)			(0.01	)
Diluted			(518.20	)			(0.05	)			(0.01	)			(732.19	)			(0.09	)			(0.01	)
Adjusted net basic and diluted loss per ADS for loss attributable to the ordinary shareholders of the Company (Expressed in RMB per ADS)
Basic			(5,182.00	)			(0.50	)			(0.08	)			(7,321.86	)			(0.86	)			(0.13	)
Diluted			(5,182.00	)			(0.50	)			(0.08	)			(7,321.86	)			(0.86	)			(0.13	)
Weighted average number of ordinary shares outstanding-basic			164,755				1,818,446,889				1,818,446,889				164,755				1,740,412,875				1,740,412,875
Weighted average number of ordinary shares outstanding-diluted			164,755				1,818,446,889				1,818,446,889				164,755				1,740,412,875				1,740,412,875

NAAS TECHNOLOGY INC.

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

	As of
	December 31, 2021				June 30, 2022
(In thousands)	RMB				RMB			US$
ASSETS
CURRENT ASSETS
Cash and cash equivalents		8,489				413,697			61,763
Trade receivables		38,456				67,267			10,043
Prepayments, other receivables and other assets		105,833				83,897			12,526
Total current assets		152,778				564,861			84,332
Non-current assets
Right-of-use assets		19,766				21,820			3,258
Financial assets at fair value through profit or loss		5,000				6,753			1,008
Property, plant and equipment		548				550			82
Intangible assets		—				933			139
Total non-current assets		25,314				30,056			4,487
Total assets		178,092				594,917			88,819
LIABILITIES AND EQUITY
Current liabilities
Current lease liabilities		7,067				9,524			1,422
Trade payables		16,872				22,689			3,387
Other payables and accruals		112,148				132,164			19,732
Total current liabilities		136,087				164,377			24,541
Non-current liabilities
Non-current lease liabilities		12,566				11,093			1,656
Total non-current liabilities		12,566				11,093			1,656
Total liabilities		148,653				175,470			26,197
EQUITY
Class A Common Shares		—		*		32,131			4,797
Class B Common Shares		—				16,674			2,489
Class C Common Shares		—				93,702			13,990
Additional paid in capital		423,329				1,342,187			200,383
Accumulated losses		(393,890	)			(1,065,172	)		(159,026	)
Accumulated other comprehensive loss		—				(75	)		(11	)
Total equity		29,439				419,447			62,622
Total equity and liabilities		178,092				594,917			88,819

Note:

* Representing amount less than RMB1,000.

** In accordance with the IFRS rules Dada Auto Inc. was considered for accounting purposes to be the successor company upon the consummation of the Merger Transactions and consequently the Company reports the financial results of Dada Auto Inc. as the Company’s historical financial results for the fiscal years ended December 31, 2021 in the Company’s statements of financial position, and three and six months ended June 30, 2021 in the Company’s statements of loss and other comprehensive loss.

HOUSTON, March 27, 2023 (GLOBE NEWSWIRE) — Evolve Transition Infrastructure LP (NYSE American: SNMP) (“Evolve” or the “Partnership”) has filed its Annual Report on Form 10-K for the year ended December 31, 2022 with the Securities and Exchange Commission (the “SEC”).

LIQUIDITY AND DEBT REDUCTION UPDATE

The Partnership had approximately $2.8 million in cash and cash equivalents as of December 31, 2022. As of December 31, 2022, the Partnership had $20.2 million in debt outstanding under its credit facility and during 2022 the Partnership reduced its debt outstanding by $29.0 million, or 59 percent.

RECEIPT OF AUDIT OPINION WITH GOING CONCERN QUALIFICATION

Pursuant to the disclosure requirements of the NYSE American Company Guidelines Sections 401(h) and 610(b), Evolve is reporting that its audited financial statements for the year ended December 31, 2022, included in the 2022 Form 10-K, contains an audit opinion from its independent registered public accounting firm that includes an explanatory paragraph related to Evolve’s ability to continue as a going concern. This announcement does not represent any change or amendment to the Partnership’s financial statements or to its 2022 Form 10-K.

UNITHOLDER ACCESS TO 2022 FORM 10-K

The Partnership has filed the 2022 Form 10-K with the SEC. A copy of the 2022 Form 10-K, which includes the Partnership’s complete audited financial statements, may be found on the SEC’s website at www.sec.gov and on the Partnership’s website at www.evolvetransition.com by selecting the “Investors” tab and then selecting “SEC Filings” from the dropdown menu. The Partnership will provide any unitholder with a hard copy of its 2022 Form 10-K, which includes Evolve’s complete audited financial statements, free of charge at any time upon request. Requests can be directed in writing to Evolve Investor Relations, 1360 Post Oak Blvd., Suite 2400, Houston, TX 77056 or by email to [email protected].

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements,” which involve risks and uncertainties. All statements, other than statements of present or historical fact, included in this press release are forward-looking statements. Any statements that refer to Evolve’s future strategy, future uses of capital, future operations, plans and objectives of management or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “expect,” “plan,” “anticipate,” “believe,” “project” or the negative of such terms or other similar expressions. These forward-looking statements are based on management’s current beliefs, expectations and assumptions regarding the future of Evolve’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about Evolve that may cause Evolve’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward looking statements. Therefore, you should not rely on any of these forward-looking statements. Management cautions all readers that the forward-looking statements contained in this press release are not guarantees of future performance, and actual results may differ materially from those anticipated or implied in forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, please read Evolve’s filings with the SEC, with particular attention to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in Evolve’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, all of which are available on Evolve’s website at www.evolvetransition.com and on the SEC’s website at www.sec.gov. These cautionary statements qualify all forward-looking statements attributable to Evolve or persons acting on Evolve’s behalf. Except as otherwise required by applicable law, Evolve disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.

ABOUT THE PARTNERSHIP

Evolve Transition Infrastructure LP is a publicly-traded limited partnership formed in 2005 focused on the acquisition, development and ownership of infrastructure critical to the transition of energy supply to lower carbon sources. Evolve owns natural gas gathering systems, pipelines and processing facilities in South Texas and continues to pursue energy transition infrastructure opportunities.

ADDITIONAL INFORMATION

Additional information about Evolve can be found in our documents on file with the SEC which are available on our website at www.evolvetransition.com and on the SEC’s website at www.sec.gov.

PARTNERSHIP CONTACT

Charles C. Ward
Interim Chief Executive Officer, Chief Financial Officer and Secretary
[email protected]
(713) 800-9477

NEW YORK and LEAMINGTON, Ontario, March 27, 2023 (GLOBE NEWSWIRE) — Tilray Brands, Inc. (“Tilray” or the “Company”) (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced that the Company will release financial results for its third quarter ended February 28, 2023 on April 10, 2023 after the market close.

Live Audio Webcast

Tilray will host a live audio webcast to discuss these results at 5:00 pm Eastern Time, which can be accessed on the Investors section of Tilray’s website at www.Tilray.com. A replay will be available and archived on the Company’s website.

Retail Investor Q&A

Tilray Brands stockholders can submit and upvote questions to Tilray via the stockholder Q&A platform Say Technologies beginning today and until April 7, 2023. To submit questions ahead of the webcast, please visit the Say Technologies platform at https://app.saytechnologies.com/tilray-brands-2023-q3.

About Tilray Brands

Tilray Brands, Inc. (Nasdaq: TLRY and TSX: TLRY) is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people’s lives for the better – one person at a time – by inspiring and empowering the worldwide community to live their very best life by providing them with products that meet the needs of their mind, body, and soul and invoke a sense of wellbeing. Tilray’s mission is to be the trusted partner for its patients and consumers by providing them with a cultivated experience and health and well-being through high-quality, differentiated brands and innovative products. A pioneer in cannabis research, cultivation, and distribution, Tilray’s unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and alcoholic beverages.

For more information on Tilray Brands, visit www.Tilray.com and follow @tilray on Instagram, Twitter, Facebook, and LinkedIn.

For further information:

Media: Berrin Noorata, [email protected]
Investors: Raphael Gross, (203) 682-8253, [email protected]

PARIS and CAMBRIDGE, Mass., March 27, 2023 (GLOBE NEWSWIRE) — NANOBIOTIX (Euronext: NANO –– NASDAQ: NBTX – the ‘‘Company’’), a late-stage clinical biotechnology company pioneering physics-based approaches to expand treatment possibilities for patients with cancer, today announced that the company will postpone the release of its full year financial results initially scheduled for Tuesday, March 28, 2023 at 4:15 p.m. EDT and conference call initially scheduled for Wednesday, March 29, 2023.

The company will announce its full year 2022 financial results and conference call schedule in a future press release to allow additional time to complete its year-end closing procedures.

About NANOBIOTIX:

Nanobiotix is a late-stage clinical biotechnology company pioneering disruptive, physics-based therapeutic approaches to revolutionize treatment outcomes for millions of patients; supported by people committed to making a difference for humanity. The company’s philosophy is rooted in the concept of pushing past the boundaries of what is known to expand possibilities for human life.

Incorporated in 2003, Nanobiotix is headquartered in Paris, France. The company also has subsidiaries in Cambridge, Massachusetts (United States), France, Spain, and Germany. Nanobiotix has been listed on Euronext: Paris since 2012 and on the Nasdaq Global Select Market in New York City since December 2020.

Nanobiotix is the owner of more than 30 umbrella patents associated with three (3) nanotechnology platforms with applications in 1) oncology; 2) bioavailability and biodistribution; and 3) disorders of the central nervous system. The company’s resources are primarily devoted to the development of its lead product candidate–NBTXR3—which is the product of its proprietary oncology platform and has already achieved market authorization in Europe for the treatment of patients with soft tissue sarcoma under the brand name Hensify^®.

For more information about Nanobiotix, visit us at www.nanobiotix.com or follow us on LinkedIn and Twitter.

Contacts

Nanobiotix
Communications Department Brandon Owens VP, Communications +1 (617) 852-4835 [email protected]	Investor Relations Department Kate McNeil SVP, Investor Relations +1 (609) 678-7388 [email protected]
Media Relations
FR – Ulysse Communication Pierre-Louis Germain + 33 (0) 6 64 79 97 51 [email protected]	Global – LifeSci Advisors Ligia Vela-Reid +44 (0) 7413825310 [email protected]

Attachment

• 2023-03-27 — NBTX — Postponing FY22 Financial Results — FINAL

VERO BEACH, Florida, March 27, 2023 (GLOBE NEWSWIRE) — ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR-PRC) (“ARMOUR” or the “Company”) today announced guidance on the April 2023 cash dividend for the Company’s Common Stock of $0.08 per Common share.

April 2023
Common Stock Dividend Information

Month		Dividend			Holder of Record Date		Payment Date
April 2023		$0.08			April 17, 2023		April 27, 2023

Certain Tax Matters

ARMOUR has elected to be taxed as a real estate investment trust (“REIT”) for U.S. Federal income tax purposes. In order to maintain this tax status, ARMOUR is required to timely distribute substantially all of its ordinary REIT taxable income. Dividends paid in excess of current tax earnings and profits for the year will generally not be taxable to common stockholders. Actual dividends are determined at the discretion of the Company’s board of directors, which may consider additional factors including the Company’s results of operations, cash flows, financial condition and capital requirements as well as current market conditions, expected opportunities and other relevant factors.

About ARMOUR Residential REIT, Inc.

ARMOUR invests primarily in fixed rate residential, adjustable rate and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S. Government-sponsored enterprises or guaranteed by the Government National Mortgage Association. ARMOUR is externally managed and advised by ARMOUR Capital Management LP, an investment advisor registered with the Securities and Exchange Commission (“SEC”).

Safe Harbor

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. The Company disclaims any obligation to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Additional Information and Where to Find It

Investors, security holders and other interested persons may find additional information regarding the Company at the SEC’s internet site at www.sec.gov, or the Company website at www.armourreit.com, or by directing requests to: ARMOUR Residential REIT, Inc., 3001 Ocean Drive, Suite 201, Vero Beach, Florida 32963, Attention: Investor Relations.

Investor Contact:        

James R. Mountain
Chief Financial Officer
ARMOUR Residential REIT, Inc.
(772) 617-4340

ELK GROVE VILLAGE, Ill., March 27, 2023 (GLOBE NEWSWIRE) — SigmaTron International, Inc. (the “Company”) announced today that on March 23, 2023, it received a delinquency notification letter from the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with the continued listing requirements under Nasdaq Listing Rule 5250(c)(1) because the Company did not timely file its Form 10-Q for the fiscal quarter ended January 31, 2023 (the “Form 10-Q”). The notification letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market.

The Company filed a Notification of Late Filing on Form 12b-25 on March 20, 2023, indicating that the filing of the Form 10-Q would be delayed because the Company requires additional time to complete its quarter-end close procedures in light of the impairment assessments (described in Exhibit A in Form 12b-25) which will result in a non-cash material impairment charges for its Pet Tech subsidiary, Wagz, Inc., for the quarter ended January 31, 2023, and the Company’s ongoing negotiations of forbearance agreements with J.P. Morgan Chase Bank, N.A. and TCW Asset Management Company, as Administrative Agent, to address covenant defaults to its loan facility. These processes require significant resources from the Company’s financial, accounting and administrative personnel and, as a result, the Company requires additional time to complete its quarterly review, including the preparation and finalization of its Form 10-Q.

Nasdaq has informed the Company that the Company must submit a plan of compliance (the “Plan”) within 60 calendar days, or no later than May 22, 2023, addressing how it intends to regain compliance with Nasdaq’s listing rules and, if Nasdaq accepts the Plan, it may grant an extension of up to 180 calendar days from the Form 10-Q original filing due date, or until September 13, 2023, to regain compliance.

The Company is working on completing the Form 10-Q.

About SigmaTron International, Inc.

Headquartered in Elk Grove Village, Illinois, SigmaTron International, Inc. operates in two reportable segments as an independent provider of electronic manufacturing services (“EMS”), and as a provider of products to the pet technology (“Pet Tech”) market. The EMS segment includes printed circuit board assemblies, electro-mechanical subassemblies and completely assembled (box-build) electronic products. The Pet Tech segment offers electronic products such as the Freedom Smart Dog Collar™, a wireless, geo-mapped fence, and wellness system, along with apparel and accessories. SigmaTron International, Inc. and its wholly-owned subsidiaries (the “Company”) operate manufacturing facilities in Elk Grove Village, Illinois; Acuna, Chihuahua, and Tijuana Mexico; Union City, California; Suzhou, China, and Biên Hòa City, Vietnam. In addition, the Company maintains an International Procurement Office and Compliance and Sustainability Center (“IPO”) in Taipei, Taiwan. The Company also provides design services in Elgin, Illinois, U.S. and Portsmouth, New Hampshire, U.S.

Forward-Looking Statements

Note: This press release contains forward-looking statements. Words such as “continue,” “anticipate,” “will,” “expect,” “believe,” “plan,” and similar expressions identify forward-looking statements. These forward-looking statements are based on the current expectations of the Company. Because these forward-looking statements involve risks and uncertainties, the Company’s plans, actions and actual results could differ materially. Such statements should be evaluated in the context of the direct and indirect risks and uncertainties inherent in the Company’s business including, but not necessarily limited to, the risks inherent in any merger, acquisition or business combination including the December 31, 2021 acquisition of Wagz; the Company’s continued dependence on certain significant customers; the continued market acceptance of products and services offered by the Company and its customers; pricing pressures from the Company’s customers, suppliers and the market; the activities of competitors, some of which may have greater financial or other resources than the Company; the variability of the Company’s operating results; the results of long-lived assets and goodwill impairment testing; the ability to achieve the expected benefits of acquisitions as well as the expenses of acquisitions; the collection of aged account receivables; the variability of the Company’s customers’ requirements; the impact of inflation on the Company’s operating results; the availability and cost of necessary components and materials; the impact acts of war may have to the supply chain; the ability of the Company and its customers to keep current with technological changes within its industries; regulatory compliance, including conflict minerals; the continued availability and sufficiency of the Company’s credit arrangements; the cost of borrowing under the Company’s senior and subordinated credit facilities, including under the rate indices that replaced LIBOR; the ability to meet the Company’s financial and restrictive covenants under its loan agreements; changes in U.S., Mexican, Chinese, Vietnamese or Taiwanese regulations affecting the Company’s business; the turmoil in the global economy and financial markets; the spread of COVID-19 and variants which has threatened the Company’s financial stability by causing a decrease in consumer revenues, caused a disruption to the Company’s global supply chain, and caused plant closings or reduced operations thus reducing output at those facilities; the continued availability of scarce raw materials, exacerbated by global supply chain disruptions, necessary for the manufacture of products by the Company; the stability of the U.S., Mexican, Chinese, Vietnamese and Taiwanese economic, labor and political systems and conditions; global business disruption caused by the Russian invasion in Ukraine and related sanctions; currency exchange fluctuations; and the ability of the Company to manage its growth. These and other factors which may affect the Company’s future business and results of operations are identified throughout the Company’s Annual Report on Form 10-K, and as risk factors, may be detailed from time to time in the Company’s filings with the Securities and Exchange Commission. These statements speak as of the date of such filings, and the Company undertakes no obligation to update such statements in light of future events or otherwise unless otherwise required by law.

For Further Information Contact:
SigmaTron International, Inc.
James J. Reiman
1-800-700-9095