Market Newsdesk

2022 Success Has Increased Confidence to Focus LNC Delivery Platform on the Future of Medicine – Delivering Genes

Prioritization on Building External Partnerships and an Internal Pipeline Centered on Gene Therapies and Nucleic Acids

Collaborations with BioNTech (mRNA Partner) and National Resilience (Nucleic Acid Platform Partner) Expected to Generate Initial In Vivo Data in 1H 2023

Seeking BARDA Financial Support and FDA Feedback on Phase 3 Study in Invasive Fungal Infections of MAT2203 Prior to Commencing Phase 3 Program

Ended 2022 with Approximately $28.8 Million, Sufficient to Fund Planned Operations into Q2 2024

Conference Call and Live Audio Webcast Scheduled Today, January 30 at 4:30 p.m. ET

BEDMINSTER, N.J., Jan. 30, 2023 (GLOBE NEWSWIRE) — Matinas BioPharma (NYSE AMER: MTNB, Matinas), a clinical-stage biopharmaceutical company focused on redefining the intracellular delivery of nucleic acids and small molecules with its lipid nanocrystal (LNC) platform technology, today is providing a business update on its ongoing programs and discussing its strategic outlook for 2023.

“In 2022 we successfully demonstrated that MAT2203, our lead asset based on our lipid nanocrystal (LNC) delivery platform, could safely and effectively deliver unprecedented survival outcomes, with an oral therapy, for patients suffering from deadly fungal infections,” commented Jerome D. Jabbour, Chief Executive Officer of Matinas. “Our success with smaller molecules increased our confidence in the platform and empowered us to focus on what we believe is the real future of medicine – the ability to safely and effectively deliver therapies that affect the genetic mechanisms underlying disease.   We are striving to create an internal and external pipeline of product candidates in the nucleic acid and gene therapy space that take advantage of the unique and proprietary nature of our delivery technologies. Our ongoing collaborations with BioNTech and, recently, National Resilience, have aligned Matinas with two of the world’s leading companies in the gene therapy space. These collaborations were designed to accelerate the overall development of our LNC platform and maximize the value we can obtain from third parties while providing us with critical data and information necessary to establish and develop an internal pipeline of nucleic acid therapies.”

Jabbour added, “During these uncertain economic times, we remain cognizant of our cash resources and have chosen to prioritize those activities which we believe will create the greatest shareholder value. Through these strategic choices, we have extended our cash runway into the second quarter of 2024, well beyond potential value-creating catalysts and near-term opportunities for non-dilutive funding from LNC partners and/or BARDA. We could not be more excited about what we are building at Matinas, and we believe that 2023 will be a great year for the Company and its shareholders.”

Key Program Updates and Anticipated Upcoming Milestones

LNC Platform Internal Data Generated

• During 2022 and early 2023, the Company has generated the following key data in our strategic focus areas of nucleic acids and gene therapies:

(a)	Developed multiple flow cytometry and florescence cell-based assays with compelling validations of intracellular uptake and gene expression with our LNC formulations.
(b)	Successful delivery of multiple larger nucleic acids  coded with reporter genes across multiple cell lines (HeLa, HEK293, A375, etc.).
(c)	Multiple oligonucleotide formulations that have demonstrated strong gene expression potency at nanogram per well dosage level, comparable to industry standard Lipofectamine.
(d)	Internal mRNA formulations that have shown excellent stability and remain biologically active over 10 weeks at 4oC storage conditions.
(e)	Multiple formulations with little to no cytotoxicity during in vitro cell viability evaluations supporting an anticipated favorable safety profile compared with other drug delivery technologies.

LNC Internal Pipeline Development

• Based on historical data with the LNC platform, along with recent learnings from internal work and its collaborations, the Company believes the greatest chance of early success in developing our own pipeline of nucleic acid drug candidates is with smaller oligonucleotides like antisense oligonucleotides (ASOs) and small interfering or silencing RNA (siRNAs). The properties of these molecules are particularly suited for our LNC platform, and the Company believes that its technology can facilitate oral delivery and extrahepatic targeting – currently two of the greatest challenges in this developing area.
• The Company has commenced a research program focused on ASO/siRNAs that it expects will generate in vitro delivery data early in the second quarter of this year, followed by multiple in vivo biodistribution and animal efficacy studies in the second half of 2023. If successful, the Company anticipates being in position to identify our next internal product candidate in late 2023. The Company believes success in these studies could position it to develop an entire pipeline of ASO and siRNA therapies.

LNC Platform Collaborations

• 
  BioNTech
  – Signed Exclusive Research Collaboration in April 2022, including $4.25 million in funding from our partner. The parties are preparing for in vivo studies (biodistribution and disease) during the first quarter of 2023, with data expected in the second quarter of 2023.
• 
  National Resilience
  
  – In January 2023, the parties entered into a Material Transfer and Evaluation Agreement focused on exploring the potential for oral delivery of identified nucleic acids. The parties are closely collaborating on a comprehensive research program comprising the design, formulation, optimization, and in vitro and in vivo testing of these nucleic acid formats in combination with Matinas’ proprietary LNC platform, with initial data expected in the second and third quarters of 2023, respectively.
• 
  Genentech
   – Genentech recently extended this collaboration for another year through 2023.
• 
  NIAID/Gilead 
  – While the series studies performed with LNC remdesivir were successful in demonstrating reduced viral lung titers, improved lung congestion scores and reduced COVID-associated weight loss, Gilead has informed Matinas that it has focused its development efforts on its internal oral nucleoside prodrug of remdesivir.

MAT2203 (oral amphotericin B) Program 

• In November 2022, the Biomedical Advanced Research and Development Authority (BARDA) announced an initiative seeking private sector partners developing late-stage, broad-spectrum antifungal drugs to treat high priority fungal infections, including aspergillus, mucormycosis, and certain forms of candidiasis. BARDA has solicited proposals from industry, and the Company believes MAT2203 is a strong candidate for funding based upon its oral, well-tolerated and broad-spectrum profile, along with its recent clinical success in Phase 2 with cryptococcal meningitis. The Company is scheduled to meet with BARDA during the first quarter of 2023 and has included all associated costs for full development for MAT2203 in its proposal. The Company believes pausing the start of its Phase 3 clinical trial in cryptococcal meningitis pending the outcome of BARDA’s evaluation of MAT2203 is the best possible course for this life-saving drug. In 2021, BARDA funding for vaccines stood at $36.9 billion, therapeutics at $14.1 billion, and diagnostics at $51 million.

• The Company is preparing to submit a formal Meeting Request to the U.S. Food and Drug Administration (FDA) to discuss plans for a second Phase 3 study to assess the efficacy, safety, and tolerability of MAT2203 in patients with serious, life-threatening invasive fungal infections with limited treatment options. The protocol synopsis currently includes the treatment of four invasive fungal infections: invasive aspergillosis, invasive candidiasis, chronic coccidioidomycosis (Valley Fever), and invasive Mucormycosis.   The Company’s strategy is to leverage the success and data from EnACT to limit the required size of this study. The Company currently plans to enroll approximately 100 patients in a single arm design with no head-to-head active comparator, which it believes should be acceptable given historical precedent and the challenges associated with the target patient population to be evaluated. The Company anticipates meeting with FDA in the second quarter of 2023 to discuss its proposed design and strategy for approval. The Company believes that FDA guidance on this Phase 3 study is critical to its BARDA proposal as well as to prospective domestic and global partners currently evaluating MAT2203, based on feedback received to date.
• The success of MAT2203 in the EnACT Phase 2 clinical trial in cryptococcal meningitis has attracted the attention of clinicians and patients without viable options for the treatment of a variety of fungal infections for which amphotericin B may be suitable, except for significant concerns relating to the toxicity of the currently available intravenous formulations of amphotericin B. Currently, there are four (4) patients who have been approved by FDA to receive MAT2203 on an emergency use basis since August of 2022, including one patient suffering from both mucor and aspergillosis. Overall, these patients have responded well to treatment with MAT2203, with notable clinical improvements. The Company will continue to evaluate opportunities to provide MAT2203 on an emergency basis for patients as it believes these are opportunities to showcase the safety and efficacy of MAT2203 outside clinical trial settings which represent important additional patient data for both FDA and prospective partners to review.

Financial Outlook

The Company’s preliminary, unaudited estimate of cash, cash equivalents and marketable securities at December 31, 2022, is approximately $28.8 million, subject to completion of the audit of the Company’s consolidated financial statements for the year ended December 31, 2022. This compares to $49.9 million at December 31, 2021. Based on current projections, the Company believes that cash on hand is sufficient to fund planned operations into the second quarter of 2024.

Conference Call and Webcast Details

The Company will host a live conference call and webcast to discuss this corporate update and 2023 business outlook today, Monday, January 30 at 4:30 p.m. ET. To participate in the call, please dial (877) 407-5976 or (412)-902-0031. The live webcast will be accessible on the Investors section of Matinas BioPharma’s website, www.matinasbiopharma.com, and archived for 90 days.

About Matinas BioPharma

Matinas BioPharma is a biopharmaceutical company focused on improving the intracellular delivery of nucleic acids and small molecules with its lipid nanocrystal (LNC) platform technology. The Company is developing its own internal portfolio of products as well as partnering with leading pharmaceutical companies to develop novel formulations that capitalize on the unique characteristics of the LNC platform.

Preclinical and clinical data have demonstrated that this novel technology can provide solutions to many of the challenges in achieving safe and effective intracellular delivery, for both small molecules and larger, more complex molecules, such as mRNA, DNA plasmids, antisense oligonucleotides, and vaccines. The combination of a unique mechanism of action and flexibility with formulation and route of administration (including oral), positions Matinas’ LNC technology to potentially become the preferred next-generation intracellular drug delivery vehicle with distinct advantages over both lipid nanoparticles and viral vectors.

For more information, please visit www.matinasbiopharma.com.

Matinas Forward-looking Statements

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including those relating to our business activities, our strategy and plans, our collaborations with National Resilience and BioNTech SE, the potential of our LNC platform delivery technology, and the future development of its product candidates, the Company’s ability to identify and pursue development, licensing and partnership opportunities for its products or platform delivery technology on favorable terms, if at all, and the ability to obtain required regulatory approval and other statements that are predictive in nature, that depend upon or refer to future events or conditions. All statements other than statements of historical fact are statements that could be forward-looking statements. Forward-looking statements include words such as “expects,” “anticipates,” “intends,” “plans,” “could,” “believes,” “estimates” and similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, our ability to obtain additional capital to meet our liquidity needs on acceptable terms, or at all, including the additional capital which will be necessary to complete the clinical trials of our product candidates; our ability to successfully complete research and further development and commercialization of our product candidates; the uncertainties inherent in clinical testing; the timing, cost and uncertainty of obtaining regulatory approvals; our ability to protect the Company’s intellectual property; the loss of any executive officers or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company’s products; and the other factors listed under “Risk Factors” in our filings with the SEC, including Forms 10-K, 10-Q and 8-K. Investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this release. Except as may be required by law, the Company does not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Matinas BioPharma’s product candidates are all in a development stage and are not available for sale or use.

Investor and Media Contacts

Ankit Bhargava, MD
Allele Communications, LLC
815.721.4912
[email protected]

Source: Matinas BioPharma Holdings, Inc.

SALT LAKE CITY, Jan. 30, 2023 (GLOBE NEWSWIRE) — Medallion Bank (Nasdaq: MBNKP, the “Bank”), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, announced today its results for the quarter and year ended December 31, 2022. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).

2022 Fourth Quarter Highlights

• Net income of $19.7 million, compared to net income of $19.0 million in the prior year quarter.
• Net interest income of $44.4 million with a net interest margin of 9.2%, compared to $37.3 million and 9.9% in the prior year quarter.
• Provision for loan losses was $8.4 million, compared to $1.6 million in the prior year quarter.
• Annualized net charge-offs were 1.7% of average loans outstanding, compared to 0.3% in the prior year quarter.

2022 Full-Year Highlights

• Record net income of $74.6 million, compared to net income of $70.0 million in 2021.
• Net interest income of $164.6 million with a net interest margin of 9.4%, compared to $136.8 million and 10.0% in 2021.
• ROA and ROE were 4.2% and 26.5%, respectively, for the year ended December 31, 2022, compared to 5.0% and 29.1% for the prior year.
• Provision for loan losses was $24.7 million, compared to $3.7 million in 2021.
• Net charge-offs were 1.0% of average loans outstanding, compared to 1.2% in 2021.
• The total loan portfolio grew 28.8% to $1.8 billion during the year.
• Total assets were $2.0 billion, total capital was $306.7 million, and the Tier 1 leverage ratio was 16.2% at December 31, 2022.

Donald Poulton, President and Chief Executive Officer of Medallion Bank, stated, “We had another tremendous year. We closed out 2022 with record annual net income driven by growth in our recreation and home improvement lending segments. In the fourth quarter, net income was a record high even with recreation loan demand and loan loss provisions continuing to move toward historical levels. We believe our culture, our team, and our superior customer service model have positioned us well for the coming year.”

Recreation Lending Segment

• The Bank’s recreation loan portfolio grew 22.6% to $1.2 billion as of December 31, 2022, compared to $965.3 million at December 31, 2021.
• Net interest income was $33.4 million, compared to $28.7 million in the prior year quarter.
• Recreation loans were 64.9% of loans receivable as of December 31, 2022, compared to 68.2% at December 31, 2021.
• The quarterly provision for recreation loan losses was $7.3 million, compared to $2.1 million in the prior year quarter.
• Annualized net charge-offs were 2.4% of average recreation loans outstanding, compared to 1.0% in the prior year quarter.

Home Improvement Lending Segment

• The Bank’s home improvement loan portfolio grew 43.4% to $626.4 million as of December 31, 2022, compared to $436.9 million at December 31, 2021.
• Net interest income was $10.5 million, compared to $8.5 million in the prior year quarter.
• Home improvement loans were 34.4% of loans receivable as of December 31, 2022, compared to 30.9% at December 31, 2021.
• The provision for home improvement loan losses was $2.7 million, compared to $1.2 million in the prior year quarter.
• Annualized net charge-offs were 1.1% of average home improvement loans outstanding, compared to annualized net charge-offs of 0.4% in the prior year quarter.

Current Expected Credit Loss Adoption on January 1

On January 1, 2023, we formally adopted the Current Expected Credit Loss accounting standard (Topic 326), otherwise known as CECL. Our preliminary calculation of the CECL transition amount on that date was a $11.6 million increase in our allowance for loan losses, or allowance for credit losses as it is called under CECL. This was an increase in the combined recreation and home improvement loan allowance of approximately 22%, and was recorded in retained earnings with no impact on net income. The medallion loan allowance was not affected. With the adoption of CECL, we expect that there will be earlier recognition of credit losses, including a near-term effect of larger loan loss provisions compared to the incurred losses accounting standard.

Series F Preferred Stock Dividend

On January 26, 2023, the Bank’s Board of Directors declared a quarterly cash dividend of $0.50 per share on the Bank’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F, which trades on the Nasdaq Capital Market under the ticker symbol “MBNKP.” The dividend is payable on April 3, 2023, to holders of record at the close of business on March 15, 2023.

About Medallion Bank

Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners. The Bank works directly with thousands of dealers, contractors and financial service providers serving their customers throughout the United States. Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).

For more information, visit www.medallionbank.com

Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, costs, sales, net investment income, earnings, returns and growth. These statements are often, but not always, made through the use of words or phrases such as “will” or “expect,” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature, such as “continuing.” These statements relate to our future earnings, returns, capital levels, growth prospects, asset quality and pursuit and execution of our strategy. Medallion Bank’s actual results may differ significantly from the results discussed in such forward-looking statements. For a description of certain risks to which Medallion Bank is or may be subject, please refer to the factors discussed under the captions “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” included in Medallion Bank’s Form 10-K for the year ended December 31, 2021, and in its Quarterly Reports on Form 10-Q, filed with the FDIC. Medallion Bank’s Form 10-K, Form 10-Qs and other FDIC filings are available in the Investor Relations section of Medallion Bank’s website. In addition, Medallion Bank’s financial results for any period are not necessarily indicative of Medallion Financial Corp.’s results for the same period.  

Statements about Medallion Bank’s preliminary calculations relating to the impact of adopting CECL consist of preliminary estimates. These estimates are forward-looking statements and are subject to change, possibly materially, as Medallion Bank completes its financial statements for the first quarter of 2023.

Company Contact:


Investor Relations
212-328-2176
[email protected]

MEDALLION BANK STATEMENTS OF OPERATIONS (UNAUDITED)
	For the Three Months Ended December 31,								For the Years Ended December 31,
(In thousands)	2022				2021				2022				2021
Total interest income	$	51,774			$	41,436			$	187,272			$	154,310
Total interest expense		7,361				4,178				22,667				17,544
Net interest income		44,413				37,258				164,605				136,766
Provision for loan losses		8,409				1,578				24,709				3,746
Net interest income after provision for loan losses		36,004				35,680				139,896				133,020
Other income (loss)
Write-downs of loan collateral in process of foreclosure and other assets		(49	)			(140	)			(582	)			(2,990	)
Other non-interest income		280				386				1,237				1,144
Total other income (loss)		231				246				655				(1,846	)
Non-interest expense
Salaries and benefits		4,430				3,838				15,086				12,237
Loan servicing		2,571				2,756				10,843				10,692
Collection costs		1,445				1,305				5,385				4,775
Regulatory fees		797				489				2,418				1,872
Professional fees		446				366				1,754				1,695
Occupancy and equipment		209				217				793				789
Other		1,154				872				4,248				3,552
Total non-interest expense		11,052				9,843				40,527				35,612
Income before income taxes		25,183				26,083				100,024				95,562
Provision for income taxes		5,460				7,071				25,386				25,563
Net income	$	19,723			$	19,012			$	74,638			$	69,999

MEDALLION BANK

BALANCE SHEETS

(UNAUDITED)

(In thousands)	December 31, 2022				December 31, 2021
Assets
Cash and federal funds sold	$	74,078			$	61,402
Investment securities, available-for-sale		48,492				44,772
Loans, inclusive of net deferred loan acquisition costs		1,822,737				1,415,415
Allowance for loan losses		(61,630	)			(53,384	)
Loans, net		1,761,107				1,362,031
Loan collateral in process of foreclosure		10,381				21,438
Fixed assets and right-of-use lease assets, net		6,600				4,230
Deferred tax assets		9,241				7,576
Accrued interest receivable and other assets		40,928				37,786
Total assets	$	1,950,827			$	1,539,235
Liabilities and Shareholders’ Equity
Liabilities
Deposits and other funds borrowed	$	1,607,110			$	1,250,880
Accrued interest payable		2,422				1,228
Income tax payable		23,165				16,104
Other liabilities		10,613				7,670
Due to affiliates		862				906
Total liabilities		1,644,172				1,276,788
Total shareholders’ equity		306,655				262,447
Total liabilities and shareholders’ equity	$	1,950,827			$	1,539,235

MIAMI, Jan. 30, 2023 (GLOBE NEWSWIRE) — Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games” or the “Company”) today announced that the Company has entered into a debt-for-equity exchange agreement (the “Agreement”) with its majority stockholder, Motorsport Network, LLC (“Motorsport Network”), to repay $1,000,000 in debt (including principal and accrued and not yet paid interest) of the Company under its $12 million line of credit with Motorsport Network.

Under the Agreement, for a period of 60 days from the closing of the transactions contemplated under the Agreement, the Company agreed to file a registration statement with the Securities and Exchange Commission (“SEC”) upon Motorsport Network’s demand in order to register the resale of the shares acquired by Motorsport Network under the Agreement, subject to the terms and conditions of the Agreement. The Agreement also granted certain piggyback registration rights to Motorsport Network.

“This debt exchange benefits our balance sheet, allows us to pay less interest expense and will help Motorsport Games to pursue product development and growth opportunities,” said Dmitry Kozko, CEO and Executive Chairman of Motorsport Games. “This debt exchange also signals the ongoing confidence that our majority shareholder, Motorsport Network, has in Motorsport Games.”

The foregoing summary of the Agreement is incomplete, and further details relating to the Agreement, including additional terms and conditions, and this transaction will be contained in the Current Report on Form 8-K the Company intends to file with the SEC later today.

About Motorsport Games:

Motorsport Games, a Motorsport Network company, is a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make the joy of racing accessible to everyone. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series across PC, PlayStation, Xbox, Nintendo Switch and mobile, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), as well as the industry leading rFactor 2 and KartKraft simulations. rFactor 2 also serves as the official sim racing platform of Formula E, while also powering F1 Arcade through a partnership with Kindred Concepts. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure and every story inspires.

Forward Looking Statements:

Certain statements in this press release which are not historical facts 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, and are provided pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, without limitation, issuance of shares of Class A common stock under the Agreement impacting the value of the Company’s Class A common stock and less than expected benefits, such as the ability to develop product and achieve growth, from any transaction under the Agreement. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its Quarterly Reports on Form 10-Q filed with the SEC during 2022, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date.

Website and Social Media Disclosure:

Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):

Websites	Social Media
motorsportgames.com	Twitter: @msportgames & @traxiongg
traxion.gg	Instagram: msportgames &traxiongg
motorsport.com	Facebook: Motorsport Games &traxiongg
	LinkedIn: Motorsport Games
	Twitch: traxiongg
	Reddit: traxiongg

The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release.

Contacts:

Investors:
[email protected]

Media:
[email protected]

An image accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4b9e488a-5297-41e5-96cf-13672a005843

Lincoln, Nebraska, Jan. 30, 2023 (GLOBE NEWSWIRE) — National Research Corporation (NASDAQ/:NRC) today announced that it will provide an online web simulcast of its 2022 fourth quarter earnings conference call on Wednesday, February 15, 2023. The Company’s results for the 2023 fourth quarter will be released after the close of the market on Tuesday, February 14, 2023.

The live broadcast of National Research Corporation’s conference call will begin at 11:00 a.m. Eastern Time on February 15, 2023. A 30-day online replay will be available approximately one hour following the conclusion of the live broadcast. 

A live audio webcast can be accessed at https://events.q4inc.com/attendee/759565253. The webcast will also be available for replay.

For more than 40 years, NRC Health has been committed to achieving Human Understanding and bringing healthcare oreganizations closer to their customers than ever before by illuminating and improving the key moments that define an experience and build trust. Gided by their uniquely empathic heritage, proprietary methods, skilled associates, and holistic approach, NRC Health helps its customers design experiences that exceed expectations inspire loyalty, and improve well-being among patients, residents, physicians, nurses, and staff. For more information, email [email protected], or visit www.nrchealth.com.

-END-

 

Kevin Karas
Chief Financial Officer
402-475-2525

ROANOKE, Va., Jan. 30, 2023 (GLOBE NEWSWIRE) — RGC Resources, Inc. (NASDAQ: RGCO) will host its quarterly conference call and webcast to review the results of its fiscal first quarter 2023 on Friday, February 10, 2023 at 9:00 a.m. eastern time. Related presentation materials will be available before the call on the Company website on the Investor & Financial Information page at https://www.rgcresources.com/investor-financial-information/.

Interested parties may access the conference call by dialing toll-free 1-877-304-9269 and entering conference identification number 917621. An archive of the webcast will be available for one year on the website at https://www.rgcresources.com/investor-financial-information/.

RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries Roanoke Gas Company and RGC Midstream, LLC.

From time to time, the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. Past performance is not necessarily a predictor of future results.

Contact:	Jason A. Field Vice President and CFO
Telephone:	540-777-3997

Orlando, Fla, Jan. 30, 2023 (GLOBE NEWSWIRE) — Kalera Public Limited Company (“Kalera” or the “Company”) (Nasdaq: KAL), a vertical farming company headquartered in Orlando, Florida, announced today that in the course of the court-supervised process in Germany over Kalera GmbH, the Kalera International business has been acquired by Growy Holdings BV (“Growy”), a Netherlands based indoor farming company.  The sale includes the headquarters in Germany, the farm in Kuwait and the farm under construction in Singapore. Kalera had announced on October 18, 2022, of its intention to divest its international business.

This marks a significant milestone in Kalera’s reorganization, allowing Kalera’s management to focus all efforts and capital to become one of the leading vertical farming companies in the United States. With a proprietary brand that continues to gain traction and market share across retail and foodservices customers across the states where Kalera operates, the uncoupling of the international businesses held by Kalera GmbH will accelerate long-term growth in attractive consumer segments with its loose-leaf, and whole-head products.

The transaction allows Kalera to maintain a clear focus on its core markets, creating value for customers, shareholders, other stakeholders, and associates.

“Completing the separation of the international assets allows us to focus all efforts to become a pure-play vertical farming company in the United States and concentrate our investments into existing farms and growing customer segments, where we see strong growth potential,” said Jim Leighton, President and Chief Executive Officer of Kalera. “We look forward to continuing increasing capacity utilization at our Houston and Denver farms enabling consistent quality and quantity to our customers to drive profitable growth and deliver long-term value to our shareholders.  We are pleased that our international business was acquired by an international company that shares our passion for vertical farming and the role it serves in our ever-changing world.  We are also pleased that the acquiring company will employ a number of highly passionate people working in Germany, Kuwait and Singapore.”

Through a pre-existing licensing agreement, Kalera retains an irrevocable, perpetual, and sublicensable right and license to Kalera GmbH’s intellectual property, excluding the &ever^®, Dryponics^®, and HappyNest^® trademarks owned by &ever GmbH prior to its acquisition by Kalera group.  

Kalera expects to classify the international business as discontinued operations for the current and historical periods in Kalera’s consolidated financial statements.  The net proceeds, which were received by the court-appointed administrator, will be applied by the administrator to partially repay Kalera’s outstanding Secured Convertible Bridge Promissory Note, as well as towards covering the costs of the court-supervised process and Kalera
GmbH’s other existing liabilities. 

In an additional effort to accelerate bringing Kalera to cash flow positive, the Company continues the process of divesting Vindara, its seed genetics business and expects to close prior to the end of Q1 2023.

About Kalera

As a leader in controlled environment agriculture, Kalera is driven by our belief that vertical farming can play an important role in securing access to fresh produce for a growing world population facing climate change and concerns about the future of traditional farming. Through our proprietary technology, we sustainably grow local, delicious, nutrient-rich, pesticide-free, non-GMO leafy greens year-round. Our automated, data-driven, hydroponic vertical farms produce higher yields and, use approximately 95% less water, and 99% less land than traditional farming. Sold under the Kalera brand, our leafy greens are “better than organic” and priced competitively, always with the end consumer in mind. Kalera is headquartered in Orlando, Florida with operating farms in Houston, Texas; and Denver, Colorado, with additional farms under construction or configuration updates in the States of Florida, Georgia, Minnesota, and Washington. More information is available at www.kalera.com.

Forward-Looking Statements

This communication includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the applicable securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters.

These forward-looking statements include, but are not limited to, statements regarding the planned restructuring of and divestiture of certain businesses. These statements are based on various assumptions and/or on the current expectations of Kalera’s management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Kalera. These forward-looking statements are subject to a number of risks and uncertainties, including but not limited to general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; changes in the assumptions underlying Kalera’s expectations regarding its future business; the effects of competition on Kalera’s future business; and the outcome of judicial proceedings to which Kalera is, or may become a party.

If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Kalera presently do not know or currently believe are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect expectations, assumptions, plans or forecasts of future events and views as of the date of this communication. Kalera anticipates that subsequent events and developments will cause these assessments to change. However, while Kalera may elect to update these forward-looking statements at some point in the future, Kalera specifically disclaims any obligation to do so, except as required by applicable law. These forward-looking statements should not be relied upon as representing Kalera’s assessments as of any date subsequent to the date of this written communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contact

Jim Leighton
CEO
[email protected]

New York, NY, Jan. 30, 2023 (GLOBE NEWSWIRE) — SCWorx Corp. (Nasdaq: WORX) today announced that it has signed a new healthcare provider for the utilization of its recently launched SaaS service offering.

SCWorx’s new product offering continues to enable hospitals of all sizes to quickly and easily benefit from the SCWorx data platform. This new customer, headquartered in Texas, is a private healthcare provider with nearly 8,000 beds under management.  SCWorx offers a technically advanced solution which has proven to be beneficial to all size hospitals that face difficult data management issues.

“Healthcare providers are facing unprecedented challenges in this post-Covid era.  SCWorx is being recognized as a solution for many of these challenges. Our new service offering is a unique way for hospitals to stay current with the data management issues which all hospitals are facing,” said Tim Hannibal, SCWorx CEO. Hannibal added, “This service offering provides hospitals with a comprehensive data management solution that is not a ‘one size fits all’.  Hospitals are showing their interest in an inexpensive solution that delivers the most value.  This is a unique approach to healthcare data in which SCWorx allows the healthcare provider to select its foundational service offering and then pick and choose enhanced services on an a-la-carte basis.  This is very unique approach within the healthcare industry.  What we have recognized is that hospitals have two core issues; first, the underlying supply data within the hospitals is loaded with incomplete detail caused by the rapid changes to item data.  The second problem is that all other projects rely on this data.  For example; MMIS migrations, mergers and acquisitions, Clinical integration to EMR systems, and financial systems all rely on accurate data.  Once we establish this ‘foundational data’ we can then help the hospital with other high profile projects such as cost savings initiatives, ERP migrations and implementations like Oracle Cloud, Infor Cloud and  Workday implementations.  The high quality of the data within the SCWorx platform combined with our expertise establishes SCWorx as the trusted source of truth for a healthcare providers data needs.”

About SCWorx

SCWorx has created an advanced attributed virtualized item data warehouse utilizing machine learning and artificial intelligence to offer a suite of software-as-a-service-based solutions for healthcare providers. The value proposition for customers revolves around the full integration of all solution modules with the company’s data platform for cost savings, operational efficiency and accurate benchmarking and reporting. The solution modules include Virtual Item Master, data cleanse and normalization, contract management and request for pricing (RFP) module, automated rebate management module, data interoperability (EMR, MMIS, finance) module, Automated Item Add Portal, Virtual General Ledger, and the data analytics module. SCWorx creates a single source for information for the healthcare provider’s data governance and analytics requirements.

Forward-Looking Statements

This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future contract renewals and terminations, future financial position, prospects, plans and objectives of management are forward-looking statements. You can identify many (but not all) such forward-looking statements by looking for words such as “assumes,” “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “projects,” “seeks,” “intends,” “plans,” “could,” “would,” “may” or other similar expressions. You should not place undue reliance on these forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, economic disruptions affecting our customers, unexpected contract terminations, securing future contracts and orders, future product sourcing, supply disruptions, containing costs, the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient resources of the company to meet its business objectives and operational requirements and other important factors that are detailed in filings with the Securities and Exchange Commission made from time to time by SCWorx, including its Annual Report on Form 10-K for the year ended December 31, 2021, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Matters described in forward-looking statements may also be affected by other known and unknown risks, trends, uncertainties and factors, many of which are beyond the company’s ability to control or predict. SCWorx undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contacts:

[email protected]

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Source: SCWorx Corp.