Market Newsdesk

BOSTON, May 12, 2021 (GLOBE NEWSWIRE) — Yumanity Therapeutics (NASDAQ: YMTX), a clinical-stage biopharmaceutical company focused on the discovery and development of innovative, disease-modifying therapies for neurodegenerative diseases, today announced that Richard Peters, M.D., Ph.D., President and Chief Executive Officer, will present at the 2021 RBC Capital Markets Global Healthcare Conference on Wednesday, May 19, 2021, at 5:25 p.m. EDT.

A live audio webcast of the presentation can be accessed through the Events section of the Company’s website at yumanity.com/events. An archived replay of the webcast will be available on the Company’s website following the live presentation.

About Yumanity Therapeutics

Yumanity Therapeutics is a clinical-stage biopharmaceutical company dedicated to accelerating the revolution in the treatment of neurodegenerative diseases through its scientific foundation and drug discovery platform. The Company’s most advanced product candidate, YTX-7739, is currently in Phase 1 clinical development for Parkinson’s disease. Yumanity’s drug discovery platform enables the Company to rapidly screen for potential disease-modifying therapies by overcoming the toxicity of misfolded proteins associated with neurogenerative diseases. Yumanity’s pipeline consists of additional programs focused on Lewy body dementia, multi-system atrophy, amyotrophic lateral sclerosis (ALS or Lou Gehrig’s disease), frontotemporal lobar dementia (FTLD), and Alzheimer’s disease. For more information, please visit www.yumanity.com.

Investors:

Burns McClellan, Inc.
Lee Roth
[email protected]
(212) 213-0006

Media:

Burns McClellan, Inc.
Ryo Imai / Robert Flamm, Ph.D.
[email protected] / [email protected]
(212) 213-0006

LOS ANGELES, May 12, 2021 (GLOBE NEWSWIRE) — (NASDAQ: ENOB) – Enochian BioSciences, Inc., a company focused on gene-modified cellular and immune therapies in infectious diseases and cancer, today announced the release of preliminary data relating to the use of a novel cell therapy approach in controlling human immunodeficiency virus (HIV) in humans. Dr. Serhat Gumrukçu, co-founder and inventor of Enochian BioSciences and Director of the Seraph Research Institute (SRI), presented the findings at the Annual Meeting of the American Society of Gene and Cell Therapy (ASGCT). Presentation can be found at https://www.enochianbio.com/about-us/collaborations/

A 54-year-old man, diagnosed with HIV in 1986, had persistent HIV detected in his blood, despite antiretroviral therapy. With approval from an Institutional Review Board, this single patient was treated with a novel cellular therapy of natural killer (NK) and gamma delta T-cells (GDT) – a small subset of immune cells that can be infected with HIV but could also be a key factor in controlling the virus. The NK and GDT cells were collected from a person who does not have HIV. Because the patient stopped antiviral treatment and received some supportive medication before the cellular therapy, the level of HIV initially increased, as expected.

However, HIV levels began to decline after approximately three weeks, and after 100 days dropped below the detection level of routinely used blood tests (20 copies/ml). HIV levels in the patient’s blood have remained at or below detection for an additional 255 days, all while the patient has not been taking antiviral medication.

This innovative cell therapy could be a potential strategy to achieve a “functional cure” for HIV. This could potentially allow persons living with HIV to stop antiviral treatment for extended periods of time. Dr. Gumrukçu and SRI are currently pursuing a regulatory pathway with the FDA to study the approach in more patients. Enochian BioSciences holds the exclusive license for the proprietary technology.

Dr. Mark Dybul, a prominent global HIV expert and Executive Vice Chair of Enochian BioSciences said, “As an HIV researcher, clinician and former leader of large, global HIV treatment programs, I am excited by these results. Although antiviral treatment is very effective, it is expensive and some patients cannot, or do not want to receive it. This, combined with the fact that access to antiviral treatments is limited, creates a significant unmet medical need. While the findings presented are preliminary and in one person with HIV, I’m hopeful that with further testing in larger patient populations, SRI’s novel cell therapy approach could one day be an alternative HIV treatment to many.”

About Enochian BioSciences, Inc.

Enochian BioSciences, Inc. is a biopharmaceutical company dedicated to identifying, developing, manufacturing, and commercializing gene-modified cell therapy. The company’s gene-modified cell therapy platform can be applied to multiple indications, including HIV/AIDS and Oncology. For more information, please visit www.enochianbio.com

About Seraph Research Institute (SRI)

Seraph Research Institute is a Los Angeles-based non-profit research institution, which runs basic science, translational and clinical research in pursuit of cures and effective treatments for chronic viral infections, cancers, and genetic disorders. For more information, please visit Seraphinstitute.org

Forward-Looking Statements

Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties, including but not limited to the success or efficacy of our pipeline. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as “believes,” “plans,” “expects,” “aims,” “intends,” “potential,” or similar expressions. Actual events or results may differ materially from those projected in any of such statements due to various uncertainties, including as set forth in Enochian BioSciences’ most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The findings in this press release are preliminary and based on one person. There is no assurance the findings will result in an effective alternative treatment for HIV. All forward-looking statements are qualified in their entirety by this cautionary statement, and Enochian BioSciences undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.

Contact: [email protected]

WOODCLIFF LAKE, N.J., May 12, 2021 (GLOBE NEWSWIRE) — PowerFleet, Inc. (Nasdaq: PWFL), a global leader and provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking and managing high-value enterprise assets, has been selected by White Oak Transportation, Inc., a leading provider of brokerage, dedicated contract carriage, and truckload carriage based in Decatur, Alabama, to supply its trailer tracking solution to their 875-trailer fleet. PowerFleet’s solar and supercap powered LV-500 combined with its cloud-based software application will provide White Oak Transportation better asset visibility for improved customer satisfaction and operational efficiencies.

By leveraging PowerFleet’s LV-500, White Oak will be able to upgrade from 3G to 4G/LTE wireless service to ensure continuity of coverage and complete visibility over its fleet. Moreover, the trailer tracking solution will support White Oak Transportation’s commitments with contracted trailer pools at customer locations. With trailers moving to and from facilities and sometimes moved by foreign carrier’s drivers, it’s easy to lose track or misplace trailers. Using PowerFleet’s reporting dashboards and analytics to run automated yard checks, White Oak can share trailer location and other key performance indicators (KPIs) with customers to provide them with peace of mind that they are meeting contracted pool requirements. 

“The level of data provided by the LV-500 ensures that we gain increased visibility into the fleet and can prioritize driver safety while delivering excellence in client service,” explained Ryan Waller, Vice President of White Oak Transportation. “As some of our contracted trailers stay at our customers’ sites for extended periods, access to accurate usage information is also critical in allowing us to improve preventative maintenance planning.”

The PowerFleet LV-500 delivers frequent reporting on the status and location of trailers through PowerFleet’s cloud-based application and integration into White Cloud’s Transportation Management System. A self-contained device, the LV-500 is dual-powered using solar-powered supercapacitors and long-lasting primary batteries, and can be installed in 10 minutes or less. Its rugged design provides extended years of service and a lower total cost of ownership. The LV-500 solution will help lower costs associated with underutilized trailers by enabling White Oak to expeditiously re-allocate them and by reducing the time required for drivers and yard workers searching for available trailers. 

“With the 3G sunset around the corner, White Oak Transportation wanted to upgrade its old devices to a reliable LTE technology solution that will help them monitor and analyze their assets,” said Mark Stanton, GM of Supply Chain at PowerFleet. “Employing our patent pending LV-500 solution addresses the many challenges of having trailers offsite for long periods of time and is ideal for ongoing fleet maintenance and management.”

To learn more about the latest PowerFleet solutions, visit www.powerfleet.com.

About PowerFleet

PowerFleet® Inc. (NASDAQ: PWFL; TASE: PWFL) is a global leader and provider of subscription-based wireless IoT and M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets such as industrial trucks, tractor trailers, containers, cargo, and vehicles and truck fleets. The company is headquartered in Woodcliff Lake, New Jersey, with offices located around the globe. PowerFleet’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. Our offerings are sold under the global brands PowerFleet, Pointer, and Cellocator. For more information, please visit www.powerfleet.com, the content of which does not form a part of this press release.

About White Oak Transportation, Inc.

White Oak Transportation is a privately held asset-based carrier that began operations in 1999. The company provides a wide range of transportation solutions that includes brokerage, dedicated contract carriage, and truckload carriage in various lengths of haul throughout the Southeastern, Midwestern and Mid-Atlantic United States. For more information, visit www.whiteoaktrans.com.

PowerFleet
Company Contact

Ned Mavrommatis, CFO 
[email protected]
(201) 996-9000 

PowerFleet
Investor Contact 
Matt Glover
Gateway Investor Relations
[email protected]
(949) 574-3860

PowerFleet Media Contact

Sasha Dookhoo
[email protected]

• Receives requisite consent from holders of certain tranches of outstanding senior notes.
  
• Extends consent solicitations period to provide holders further opportunity to consent.
  

MONTREAL, May 12, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) (the “Corporation”) today announced that it has received the requisite consent from holders of certain tranches of its outstanding Senior Notes or Debentures as they relate to the Corporation’s previously announced Consent Solicitation Statement dated May 3, 2021 (as from time to time, amended or supplemented, the “Consent Solicitation Statement”) with respect to its outstanding senior notes or debentures (such solicitation with respect to any individual series, a “Consent Solicitation” and collectively, the “Consent Solicitations”).

The requisite consents were received for the following series of the Corporation’s outstanding senior notes and the corresponding Supplemental Indentures have been entered into and are effective and the Effective Time for each such series has occurred (so that previously delivered Consents may no longer be revoked, although such Supplemental Indentures are not yet operative) in respect of each such series:

TITLE OF SECURITY	CUSIP / ISIN (144A)	CUSIP / ISIN (Reg S)
6.000% Senior Notes due 2022	097751BJ9 / US097751BJ96	C10602AY3 / USC10602AY36
6.125% Senior Notes due 2023	097751BF7 / US097751BF74	C10602AW7 / USC10602AW79
7.500% Senior Notes due 2024	097751BR1 / US097751BR13	C10602BF3 / USC10602BF38
7.500% Senior Notes due 2025	097751BM2 / US097751BM26	C10602BA4 / USC10602BA41

Extending Consent Solicitations

Pursuant to the terms of the Consent Solicitation Statement, in order for the Proposed Amendments with respect to the series of notes listed above to become operative, the Company need only receive the requisite consents for the Company’s 7.875% Senior Notes due 2027.

However, to ensure that all Holders of the Company’s notes who did not already consent have the opportunity to participate in the Consent Solicitations, the Corporation also announced the extension of the expiration date of all of its previously announced Consent Solicitations as follows.

The expiration date for the below series of notes has been extended to 5:00 p.m., New York City time, on May 13, 2021:

TITLE OF SECURITY	CUSIP / ISIN (144A)	CUSIP / ISIN (Reg S)
5.750% Senior Notes due 2022	097751AY7 / US097751AY72	C10602AR8 / USC10602AR84
6.000% Senior Notes due 2022	097751BJ9 / US097751BJ96	C10602AY3 / USC10602AY36
6.125% Senior Notes due 2023	097751BF7 / US097751BF74	C10602AW7 / USC10602AW79
7.500% Senior Notes due 2024	097751BR1 / US097751BR13	C10602BF3 / USC10602BF38
7.500% Senior Notes due 2025	097751BM2 / US097751BM26	C10602BA4 / USC10602BA41
7.875% Senior Notes due 2027	097751BT7 / US097751BT78	C10602BG1 / USC10602BG11
7.450% Senior Notes due 2034	097751AL5 / US097751AL51	C10602AJ6 / USC10602AJ68

The expiration date for the below debentures has been extended to 5:00 p.m., New York City time, on May 18, 2021:

TITLE OF SECURITY	CUSIP / ISIN (144A)	CUSIP / ISIN (Reg S)
7.35% Debentures due 2026	097751AE1 / CA097751AE11	—

As previously announced, if the requisite consents from holders of a series of notes are received and the Proposed Amendments (as defined in the Consent Solicitation Statement) are adopted and become operative, then the Corporation will make a consent payment of US$1.25 per US$1,000 principal amount of the applicable series of notes (C$1.25 per C$1,000 principal amount of the 7.35% Debentures due 2026 (the “C$ Notes”)) to holders who validly deliver (and do not validly revoke) their consent on or prior to the respective deadlines as outlined above and unless further extended.

Except as set forth herein with respect to the expiration date, the terms and conditions of the Consent Solicitations remain the same as set forth and described in the Consent Solicitation Statement. The Corporation reserves the absolute right, subject to applicable laws, to further amend, waive or modify the terms of the Consent Solicitations in any manner. For a complete statement of the terms and conditions of the Consent Solicitations, holders are encouraged to read the Corporation’s Consent Solicitation Statement.

Holders who have previously delivered consents in connection with the Consent Solicitations do not need to redeliver such consents or take any other action in response to this announcement in order to consent to the Consent Solicitations.

The Corporation has retained Global Bondholder Services Corporation to act as the US Information and Tabulation Agent for the Consent Solicitations, and has retained Kingsdale Partners LP to act as the Canadian Information and Tabulation Agent for the Consent Solicitation for the C$ Notes. For additional information regarding the terms of the Consent Solicitations, or to obtain additional copies of the Consent Solicitation Statement, please contact Global Bondholder Services Corporation at (866) 807 2200 or by email at [email protected], or, in respect of the C$ Notes, Kingsdale Partners LP at 1-888-518-6824 or by email at [email protected]. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Consent Solicitations.

Citigroup Global Markets Inc. and UBS Securities LLC will act as the Solicitation Agents for the Consent Solicitation. Questions concerning the terms of the Consent Solicitation should be directed to Citigroup Global Markets Inc. at (212) 723-6106 (collect) or (800) 558-3745 (toll-free) or UBS Securities LLC at (203) 719-4210 (collect) or (888) 719-4210 (toll-free).

Holders are advised to check with any bank, securities broker or other intermediary through which they hold any of the notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Consent Solicitations, before the deadlines specified herein and in the Consent Solicitation Statement. The deadlines set by each clearing system for the submission and withdrawal of instructions will also be earlier than the relevant deadlines specified herein and in the Consent Solicitation Statement. You should check with such broker, dealer, commercial bank, trust company or other nominee to determine whether they will charge you a fee for delivering your consent on your behalf.

None of the Corporation, the trustees for the notes, the agents under the respective indentures for the notes, the US Information and Tabulation Agent, the Canadian Information and Tabulation Agent, any of their respective subsidiaries or affiliates or any of its or their respective directors, officers, employees or representatives makes any recommendation to holders as to whether or not to deliver their consent pursuant to any of the Consent Solicitations, and none of the foregoing has authorized any person to make any such recommendation. Holders must decide whether to provide their consent.

This notice does not constitute or form part of any offer or invitation to purchase, or any solicitation of any offer to sell, the notes or any other securities in the United States or any other jurisdiction, and neither this notice nor any part of it, nor the fact of its release, shall form the basis of, or be relied on or in connection with, any contract therefor. The Consent Solicitations are made only by and pursuant to the terms and conditions of the Consent Solicitation Statement and the information in this notice is qualified by reference to the Consent Solicitation Statement. None of the Corporation or the tabulation agents makes any recommendations as to whether or not holders should deliver their consent pursuant to any of the Consent Solicitations.

Holders are requested to read and consider carefully the information contained in the Consent Solicitation Statement and to deliver their consent in accordance with the instructions set forth in the Consent Solicitation Statement.

About Bombardier

Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier is a trademark of Bombardier Inc. or its subsidiaries.

This announcement does not constitute an offer to buy or the solicitation of an offer to sell any securities in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws require the Consent Solicitation to be made by a licensed broker or dealer, the Consent Solicitation will be deemed to be made by one or more registered brokers or dealers licensed under the laws of such jurisdiction.

Certain statements in this announcement are forward-looking statements based on current expectations. By their nature, forward-looking statements, including statements with respect to the Corporation’s ability to complete the Consent Solicitation, are based on estimates, projections, beliefs and assumptions that Bombardier believes are reasonable but are not guarantees of future events and results.

Forward-looking statements require us to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from those set forth in the forward-looking statements. For additional information regarding these risks and uncertainties, and the assumptions underlying the forward-looking statements, please refer to the Consent Solicitation Statement.

For information

Francis Richer de La Flèche Vice President, Financial Planning and Investor Relations Bombardier +1 514 855 5001 x13228

Mark Masluch Senior Director, Communications Bombardier +1 514 855 7167

Highlights:

• New transmission oil cooler lines for more than 5 million domestic vehicles.
• New complex electronics and ADAS solutions, including cruise control distance sensors.
• New OE FIX braided stainless steel flexible fuel lines for select GM trucks.

COLMAR, Pa., May 12, 2021 (GLOBE NEWSWIRE) — Dorman Products, Inc. (NASDAQ:DORM) is announcing today the release of more than 496 new automotive repair products, giving installers and owners greater freedom to fix cars and trucks with innovative solutions designed to help them save time and money.

Dorman continues to add to its industry-leading catalog of transmission oil cooler lines, with 10 new solutions this month, eight of which are aftermarket-exclusive. This month’s new products cover more than 5 million vehicles in operation, including a wide range of General Motors, Ford and Chrysler vehicles from 2000 through the current model year.

Transmission lines serve a vital function in keeping automatic transmissions running at optimal temperatures, but they eventually fail from corrosion at connections or lines separating, causing leaks. Newer thermostatic bypass valves can also clog on these lines, which could potentially cause a pressure burst.

Dorman now has nearly 400 direct replacements transmission lines available, and all of these designs undergo a dozen different quality performance tests to help ensure reliability, such as a grueling 120-hour salt spray test for corrosion resistance of the lines’ zinc and clear chromate coating.

Other highlights in this month’s release include:

• New complex electronics solutions, including cruise control distance sensors for more than 1.2 million late model Ford and Lincoln vehicles, and other advanced driver-assistance system (ADAS) products such as lane and park assist cameras.
• More than 30 unique new control arms covering more than 15 million vehicles, including late model coverage for a wide range of domestic, European and Asian vehicle makes.
• New OE FIX braided stainless steel flexible fuel lines for select Chevrolet and GMC trucks (part numbers 819-800 and 819-801). The original equipment lines on these vehicles can fail from deterioration caused by corroded fittings. Dorman’s lines are made of braided stainless steel over flexible PTFE tubing for improved durability. Made to exact length for specified applications, they also feature corrosion-resistant stainless steel fittings.

These are just a few of the innovations Dorman is announcing this month. To sign up to receive Dorman’s new product announcements directly each month, visit DormanProducts.com/signup.

Contact:	Steve Gisondi
Email:	[email protected]

About Dorman Products
Dorman gives repair professionals and vehicle owners greater freedom to fix cars and trucks. For over 100 years, we have been driving new solutions for the automotive aftermarket, releasing tens of thousands of replacement products engineered to save time and money, and increase convenience and reliability.

Founded and headquartered in the United States, we are a pioneering global organization offering an always-evolving catalog of parts, covering both light duty and heavy duty vehicles, from chassis to body, from underhood to undercar, and from hardware to complex electronics. See our full offering and learn more at DormanProducts.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors (many of which are outside of our control) which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. For additional information concerning factors that could cause actual results to differ materially from the information contained in this press release, please see Dorman’s prior press releases and filings with the U.S. Securities and Exchange Commission (“SEC”), including Dorman’s most recent annual report on Form 10-K and its Current Report on Form 8-K filed with the SEC on March 26, 2020. Dorman is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.

Visit Dorman’s website at www.dormanproducts.com. The Investor Relations section of the website contains a significant amount of information about Dorman, including financial and other information for investors. Dorman encourages investors to visit its website to view new and updated information.

Vote FOR MIMEDX’s Experienced and Highly Qualified Directors and Governance Enhancement Proposals

MARIETTA, Ga., May 12, 2021 (GLOBE NEWSWIRE) — MIMEDX Group, Inc. (NASDAQ: MDXG) (“MIMEDX” or the “Company”), an industry leader in utilizing amniotic tissue as a platform for regenerative medicine, today reminded shareholders to vote at the upcoming 2021 Annual Meeting of Shareholders (“Annual Meeting”), which will be held on May 27, 2021. MIMEDX’s Board of Directors unanimously recommends that shareholders vote FOR all four of its director nominees and FOR all proposals on the Company’s WHITE proxy card. MIMEDX has also confirmed that Prescience Point has voluntarily withdrawn its proxy contest and its proposed director candidates.

MIMEDX has four deeply experienced and highly qualified director nominees standing for election – Dr. M. Kathleen Behrens, Mr. Todd Newton, Mr. Timothy R. Wright, and Dr. Phyllis Gardner. MIMEDX has also put forth several key governance enhancement proposals, including declassifying the Board, reducing the ownership threshold for shareholders to be permitted to call a special meeting and adopting proxy access, all of which are consistent with public company corporate governance best practices.

Leading independent proxy advisory firm Institutional Shareholder Services (“ISS”) has recommended that shareholders vote FOR all four of MIMEDX’s director nominees and FOR all proposals included on the Company’s WHITE proxy card.

Voting at the 2021 Annual Meeting will be an important opportunity to further accelerate MIMEDX’s ongoing transformation and maintain the Company’s positive momentum that resulted from the significant progress made over the past two years by the reconstituted Board and new management team.

Your Vote Is Important, No Matter How Many or How Few Shares You Own   You can vote by Internet, telephone or by signing and dating the WHITE proxy card and mailing it in the envelope provided.  If you have any questions about how to vote your shares, or need additional assistance, please contact:  MORROW SODALI  [email protected] (203) 658-9400 or Toll-Free (800) 662-5200

MIMEDX will be holding its Annual Meeting virtually on May 27, 2021 at 10:00 a.m. Eastern Time at www.cesonlineservices.com/mdxg21_vm. MIMEDX shareholders of record as of 5:00 p.m. Eastern Time on April 16, 2021 are entitled to vote at the Annual Meeting.

MIMEDX’s definitive proxy materials, letter to shareholders and other relevant information can be found at https://votemimedx.com/.

Important Cautionary Statement

This communication contains forward-looking statements, including, among other things, statements regarding: (i) our ability to further accelerate the Company’s transformation, maintain its momentum, and create shareholder value; and (ii) the Company’s position and future opportunities. Additional forward-looking statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “goal,” “outlook,” “potential,” “will,” “preliminary,” and similar expressions, and are based on management’s current beliefs and expectations.

Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. The Company describes factors that could cause actual results to differ from expectations in the Risk Factors section of its most recent annual report and quarterly reports filed with the SEC. Any forward-looking statements speak only as of the date of this communication and the Company assumes no obligation to update any forward-looking statement.

Important Information

The Company, its directors, director nominees and certain of its executive officers are participants in the solicitation of proxies from shareholders in respect of the Annual Meeting. The Company has filed a definitive proxy statement and associated WHITE proxy card in connection with the solicitation of proxies for the Annual Meeting with the SEC. Details concerning the nominees of the Company’s board of directors for election at the Annual Meeting are set forth in the definitive proxy statement. BEFORE MAKING ANY VOTING DECISION, SHAREHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY’S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO, AS THEY CONTAIN IMPORTANT INFORMATION. Information regarding the identity of the Company’s participants and their respective interests in the matters to be voted on at the Annual Meeting, by security holdings or otherwise, are set forth in the definitive proxy statement and other documents filed with the SEC in connection with the Annual Meeting. Investors and shareholders can obtain a copy of the definitive proxy statement and other documents filed by the Company free of charge from the SEC’s website at www.sec.gov. The Company’s shareholders can also obtain, without charge, a copy of the definitive proxy statement and other relevant filed documents from the “SEC Filings” section of the Company’s website at www.mimedx.com.

About MIMEDX

MIMEDX is an industry leader in utilizing amniotic tissue as a platform for regenerative medicine, developing and distributing placental tissue allografts with patent-protected, proprietary processes for multiple sectors of healthcare. As a pioneer in placental biologics, we have both a core business, focused on addressing the needs of patients with acute and chronic non-healing wounds, and a promising late-stage pipeline targeted at decreasing pain and improving function for patients with degenerative musculoskeletal conditions. We derive our products from human placental tissues and process these tissues using our proprietary methods, including the PURION® process. We employ Current Good Tissue Practices, Current Good Manufacturing Practices, and terminal sterilization to produce our allografts. MIMEDX has supplied over two million allografts, through both direct and consignment shipments. For additional information, please visit www.mimedx.com.

Contacts:

Investors:

Jack Howarth
Investor Relations
404-360-5681
[email protected]   

Media:

Hilary Dixon
Corporate Communications
770-651-9307
[email protected]

 

FREEDOM clinical study on track for topline results in Q3 2021

Ended Q1 with cash, cash equivalents, restricted cash and investments of $96.5 million

BURLINGTON, Mass., May 12, 2021 (GLOBE NEWSWIRE) — scPharmaceuticals Inc. (Nasdaq: SCPH), a pharmaceutical company focused on developing and commercializing products that have the potential to optimize the delivery of infused therapies, advance patient care, and reduce healthcare costs, today announced financial results for the first quarter ended March 31, 2021 and provided a business update. 

Business Update

• Conducted a Type A meeting with the U.S. Food and Drug Administration (FDA) regarding the FUROSCIX^® New Drug Application (NDA) and requirements related to its resubmission.
• The Company is still in discussion with the FDA regarding the bench top testing of the West SmartDose^® Gen II on-body infusor; the Company has a Type C meeting scheduled in June to discuss this in detail.
• Pending resolution of the testing plan and assuming device modifications are not required, the Company anticipates resubmitting the FUROSCIX NDA under the current 505(b)(2) approval pathway in the fall of 2021.
• Enrollment in the FREEDOM-HF clinical trial continues to progress with results expected in Q3 2021. The primary endpoint of this study is the difference in the 30-day overall and heart failure-related healthcare costs between subjects treated with FUROSCIX post-discharge from the emergency department and patients treated in the hospital.
• Enrolled first patient in the AT HOME-HF Pilot study designed to assess clinical outcomes in patients treated with FUROSCIX with worsening heart failure symptoms due to congestion.
• Announced the appointment of renowned heart failure specialist William T. Abraham, M.D., to the company’s Board of Directors.
• Ended the first quarter with cash, cash equivalents, restricted cash and investments of $96.5 million.

“During the first quarter, we were pleased to have completed a productive Type A meeting with the FDA during which we gained clarity on requirements for resubmission of the FUROSCIX 505(b)(2) NDA. We have a follow-up Type C meeting in June where we hope to finalize the testing details on the bench top testing for resubmission,” stated John Tucker, chief executive officer of scPharmaceuticals. “In parallel, our ongoing FREEDOM-HF and AT HOME-HF PILOT studies, if successful, will add to the growing body of evidence demonstrating the potential for improved clinical outcomes and reduced costs associated with treatment with FUROSCIX outside of the hospital setting. We are well financed with approximately $97 million in cash, and we are focused on advancing this novel therapy to the many worsening heart failure patients who continue to have significant unmet need.”    

First Quarter 2021 Financial Results and Financial Guidance

scPharmaceuticals ended the first quarter with $96.5 million in cash, cash equivalents, restricted cash and investments, compared to $105.3 million as of December 31, 2020. The Company believes its cash, cash equivalents, restricted cash and investments are sufficient to fund operations into 2023.

scPharmaceuticals reported a net loss of $7.1 million for the first quarter of 2021, compared to $7.1 million for the comparable period in 2020.

Research and development expenses were $4.0 million for the first quarter of 2021, compared to $4.1 million for the comparable period in 2020. The decrease in research and development expenses for the quarter ended March 31, 2021 was primarily due a decrease in device development costs, offset by increased clinical study and medical affairs activity, pharmaceutical development costs, and employee-related costs.

General and administrative expenses were $2.7 million for the first quarter of 2021, compared to $2.5 million for the comparable period in 2020. The increase in general and administrative expenses for the quarter ended March 31, 2021 was primarily attributable to employee-related and director and officer’s insurance costs, offset by a decrease in legal costs.

Based on its current operating plan, the Company expects the net loss for 2021 to be in the range of $32.0 to $36.0 million for the fiscal year.

About FUROSCIX^® (furosemide injection) for subcutaneous injection

FUROSCIX is an investigational, proprietary furosemide solution formulated to a neutral pH to allow for subcutaneous infusion via a wearable, pre-programmed on-body drug delivery system, for outpatient self-administration. FUROSCIX is currently under development for the treatment of congestion due to fluid overload in adult patients with New York Heart Association (NYHA) Class II and Class III heart failure who display reduced responsiveness to oral diuretics and who do not require hospitalization. FUROSCIX has the potential to provide an outpatient alternative for the treatment of worsening heart failure due to congestion.

About scPharmaceuticals

scPharmaceuticals is a pharmaceutical company focused on developing and commercializing products that are designed to reduce healthcare costs and improve health outcomes. The Company develops, internally and through strategic partnerships, innovative products and solutions that aim to expand and advance the outpatient care of select acute conditions. The Company’s lead programs focus on the subcutaneous, self-administration of IV-strength treatments in heart failure and infectious disease. scPharmaceuticals is headquartered in Burlington, MA. For more information, please visit www.scPharmaceuticals.com.

Forward-Looking Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the FDA’s review requirements and potential outcomes of the Type C meeting, the planned resubmission of the FUROSCIX NDA, including potential timing of the resubmission, the potential timing of, and the Company’s expected progress towards, the advancement of the Company’s device verification, research and validation studies, including the expected timing and results of the FREEDOM-HF clinical trial and the AT-HOME-HF Pilot study, whether any modifications to the
West SmartDose Gen II on-body infusor
may be required, and the potential benefits, expected costs and future plans and expectations for FUROSCIX, if approved, and the Company’s projected financial guidance, including projected annual loss. Any forward-looking statements in this press release are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk of the ability of the FUROSCIX On-Body Infusor to appropriately deliver therapy, the results of the above-referenced bench testing, the risk that the FDA requires modification of the
West SmartDose Gen II on-body infusor device,
the receipt of regulatory approval for the FUROSCIX On-Body Infusor or any of our other product candidates or, if approved, the successful commercialization of such products, the risk of cessation or delay of any of the ongoing or planned clinical trials and/or our development of our product candidates, the risk that the results of previously conducted studies will not be repeated or observed in ongoing or future studies involving our product candidates, and the risk that the current COVID-19 pandemic will impact the Company’s device validation, drug stability testing, the timing of the Company’s resubmission of the FUROSCIX NDA and other operations. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2020 on file with the Securities and Exchange Commission, available at the Securities and Exchange Commission’s website at 

www.sec.gov

, and as well as discussions of potential risks, uncertainties and other important factors in the Company’s subsequent filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and the Company undertakes no duty to update this information unless required by law.

Katherine Taudvin
scPharmaceuticals Inc., 781-301-6706
[email protected]

Investors:
Hans Vitzthum
LifeSci Advisors, 617-430-7578
[email protected]

scPharmaceuticals Inc.
Unaudited Consolidated Statements of Operations
(in thousands, except share and per share data)
	THREE MONTHS ENDED MARCH 31,
		2020				2021
Operating expenses:
Research and development	$	4,146			$	4,009
General and administrative		2,503				2,732
Total operating expenses		6,649				6,741
Loss from operations		(6,649	)			(6,741	)
Other (expense) income		(31	)			255
Interest income		224				20
Interest expense		(636	)			(636	)
Net loss and comprehensive loss	$	(7,092	)		$	(7,102	)
Net loss per share, basic and diluted	$	(0.35	)		$	(0.26	)
Weighted—average common shares outstanding, basic and diluted		20,218,473				27,336,724

scPharmaceuticals Inc.
Unaudited Consolidated Balance Sheet Data
(in thousands)		DECEMBER 31,				MARCH 31,
			2020				2021
Cash, cash equivalents, restricted cash and investments		$	105,277			$	96,509
Working capital			98,505				89,418
Total assets			109,048				100,293
Term loan			19,266				19,353
Accumulated deficit			(161,664	)			(168,766	)
Total stockholders’ equity			82,170				75,515

JACKSONVILLE, Fla., May 12, 2021 (GLOBE NEWSWIRE) — Jacksonville, Fla. – (May 12, 2021) — Dream Finders Homes, Inc. (NASDAQ: DFH) announced net income of $16.1 million for the quarter ended March 31, 2021, an increase of 145.0% over the $6.6 million earned in the quarter ended March 31, 2020. The increase in net income was mainly driven by an 82.2% increase in home sales revenues and 210 basis points of accretion in the gross margin percentage from the first quarter of 2020.

First Quarter 2021 Highlights and Results

• Total revenues were $343.6 million, an increase of 82.0% when compared to the $188.7 million in the first quarter of 2020. Home closings increased to 1,002 homes for the first quarter of 2021, a 94.6% increase over the 515 home closings in the first quarter of 2020. Average selling price per home closed (“ASP”) in the first quarter of 2021 was $335,986 compared to $362,591 for the first quarter of 2020. The decrease in ASP was primarily attributable to the impact of a full quarter of H&H Homes with 343 home closings
• Gross margin as a percentage of homes sales revenues was 14.9%, an increase of 210 basis points when compared to the first quarter of 2020 gross margin percentage of 12.8%. Margin expansion was primarily driven by increases in the sales prices of comparable homes closed when compared to the first quarter of 2020, a lower cost of funds and the Company achieving scale through additional units in certain of its operating segments
• Pre-tax income, net of income attributable to non-controlling interests, was $20.9 million, an increase of 218.2% when compared to the $6.6 million generated in the first quarter of 2020
• Net profit margin as a percentage of total revenues was 4.7%, an increase of 120 basis points when compared to the first quarter of 2020 net profit margin percentage of 3.5%
• Net new orders increased to a record 2,010 homes, an increase of 137.0% over the net new orders of 848 in the first quarter of 2020
• The cancellation rate for the first quarter of 2021 was 8.1%, a decrease of 370 basis points from the 11.8% in the first quarter of 2020
• Controlled lots at March 31, 2021 were 22,591 compared to 19,276 lots controlled at December 31, 2020, a sequential quarterly increase of 17.2%
• Active community count at the end of the first quarter of 2021 was 120, an increase of 44.6% over the 83 active communities at the end of the first quarter of 2020. Active community count at the end of 2020 was 126, resulting in an absorption rate of 5.3 per month in the first quarter of 2021
• Homes in backlog at the end of the first quarter of 2021 were 3,612, valued at $1,356.4 million, increases of 212.7% and 207.0%, respectively, over the 1,155 homes in backlog valued at $441.9 million at the end of the first quarter of 2020
• Return on equity was 37.4% for the trailing twelve months ended March 31, 2021, compared to 36.7% for the trailing twelve months ended March 31, 2020

Patrick Zalupski, Dream Finders Homes Chairman and CEO, said, “Our first quarter results represent an outstanding start to the year for our Company. We continue to see strength in the housing markets in which we operate, driven by low interest rates and favorable demographic and migration trends. Our disciplined asset-light strategy is facilitating the growth in our controlled lot supply and allowing the Company to quickly react to market opportunities to increase homebuilding margin. Given the size of our backlog at March 31, 2021 and 736 net new orders in the month of April, we are optimistic about delivering on our 2021 business plan.”

Net income for the quarter ended March 31, 2021 was $16.1 million, or $0.18 per diluted share. Net income for the first quarter of 2021 increased 145.0% when compared to the $6.6 million achieved in the first quarter of 2020 – net income for the first quarter of 2020 excludes the impact of income tax expense considerations, as the Company was a pass-through entity for taxation purposes at that time. Applying the same 23% effective tax rate to the Company’s earnings for the quarter ended March 31, 2020, would generate net income attributable to Dream Finders Homes, Inc. of $5.1 million, resulting in an increase of 215.7% on a tax effected comparable basis.

Pre-tax income, net of income attributable to non-controlling interests, for the first quarter of 2021 increased 218.2% to $20.9 million, and represented a 6.1% margin as a percentage of total revenues as compared to $6.6 million for the first quarter of 2020, representing a 3.5% margin as a percentage of total revenues. The improvement was primarily attributable to gross margin expansion of 210 basis points and a decrease in SG&A as a percentage of revenues amounting to 109 basis points as the Company continues to achieve scale. During the first quarter of 2021, the Company recorded non-recurring expenses in relation to its initial public offering, including the acceleration of stock compensation expense from its predecessor of $1.2 million and debt issuance cost write-offs of $0.7 million, which resulted in a decrease in earnings per share of $0.02.

Update on Recent Acquisitions

H&H Homes

H&H Homes, the North Carolina based homebuilder acquired by the Company on October 5, 2020, completed the first quarter of 2021 by closing 343 homes and generating $98.5 million in homebuilding revenues. The acquisition allowed the Company to broaden its footprint into the high-growth market of North Carolina and offers a significant platform for the Company to continue its expansion and growth. The following table shows H&H Homes’ contribution to the Company for the first quarter of 2021.

	Q1 2021 (unaudited)
Results and Operating Data: (1)					Units:
Revenues	$	98,503,439			Net new orders	413
Cost of sales		84,904,704			Home closings	343
Gross margin		13,598,735
Gross margin %		13.8	%
SG&A		7,432,832
SG&A % of revenue		7.5	%
Net income		6,165,903
Net income %		6.3	%

(1) Excludes a corporate overhead fee allocated to H&H Homes for the first quarter of 2021.

Century Homes Florida

Century Homes Florida (Century), the Orlando-based homebuilder acquired by the Company on January 31, 2021, closed 43 homes and had 49 net new orders during the post-acquisition period (February 1 – March 31, 2021). In addition, Century contributed $15.7 million in home sales revenue and $1.1 million in pre-tax income to the Company’s results for the first quarter of 2021. Century’s results of operations are included within the Company’s Orlando operating segment. The Century acquisition has enhanced the Company’s geographical footprint in the Central Florida market allowing it to serve additional homebuyers and expand relationships with land developers and sellers in the Orlando MSA.

Full Year 2021 Outlook

Dream Finders Homes remains focused on providing an affordable product for its entry-level and first-time move-up homebuyers, and while recognizing the challenges created by input costs inflation and supply chain constraints, the Company has been able to successfully deliver on a robust first quarter. Based on the consistent level of elevated sales per community and backlog, the low interest rate environment, and persistent relocation patterns into its core markets, the Company continues to be well positioned to achieve its expected growth in 2021 and maintains its guidance of 5,000 to 6,000 home closings for the full year 2021. In addition, the Company expects an increase in the average sales price of homes closed in future quarters, as the average sales price in backlog as of March 31, 2021 was $375,526.

This outlook assumes that general economic conditions, including interest rates and mortgage availability, in 2021 remain similar to those experienced in the first quarter of 2021, and that construction costs and overall absorption rates in the remainder of 2021 are consistent with the Company’s recent experience. In addition, this outlook assumes that the Company is able to continue to increase its portfolio of controlled lots, and that governmental regulations relating to land development, home construction and COVID-19 are similar to those currently in place. Any further COVID-19 governmental restrictions on land development, home construction or home sales could negatively impact the Company’s ability to achieve this number of home closings in 2021.

Investor Communication

Dream Finders Homes encourages all interested parties — including analysts, current and potential stockholders, and other stakeholders — to submit questions in writing about the Company’s results and business to [email protected]. The Company intends to make written responses to selected questions available monthly by furnishing Current Reports on Form 8-K to the Securities and Exchange Commission and through its investor relations website at https://investors.dreamfindershomes.com/.

About Dream Finders Homes, Inc.

Dream Finders Homes is based in Jacksonville, FL, and is one of the nation’s fastest growing homebuilding companies, with industry leading returns on shareholder’s equity. Dream Finders Homes builds homes in Florida, Texas, North Carolina, South Carolina, Georgia, Colorado, Virginia and Maryland. Dream Finders Homes achieves its industry leading growth and returns by maintaining an asset light homebuilding model.

Forward-Looking Statements

This press release includes forward-looking statements regarding future events, including projected 2021 home closings and average sales price of homes closed in 2021; market conditions and possible or assumed future results of operations, including statements regarding the Company’s strategies and expectations as they relate to market opportunities and growth. All forward-looking statements are based on Dream Finders Homes’ beliefs as well as assumptions made by and information currently available to Dream Finders Homes. These statements reflect Dream Finders Homes’ current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in Dream Finders Homes’ Annual Report on Form 10-K for the year ended December 31, 2020, and other filings with the U.S. Securities and Exchange Commission. Dream Finders Homes undertakes no obligation to update or revise any forward-looking statement except as may be required by applicable law.

Dream Finders Homes, Inc.

Consolidated Statements of Comprehensive Income and Operating Activity
(Unaudited)

	For the Three Months Ended March 31,
		2021			2020
Revenues	$	343,560,365		$	188,738,433
Cost of sales		291,036,761			163,745,683
Selling, general and administrative expense		28,148,956			17,518,785
Income from equity in earnings of unconsolidated entities		(1,732,393	)		(1,359,388	)
Gain on sale of assets		(65,517	)		(34,095	)
Loss on extinguishment of debt		697,423			–
Other Income		(482,219	)		(134,061	)
Other expense		2,903,048			1,195,311
Interest expense		641,861			35,705
Income before taxes	$	22,412,445		$	7,770,493
Income tax expense		4,816,482			–
Net and comprehensive income	$	17,595,963		$	7,770,493
Net and comprehensive income attributable to non-controlling
interests		(1,475,318	)		(1,190,459	)
Net and comprehensive income attributable to Dream Finders Homes, Inc.		16,120,645			6,580,034
Earnings per share (4)
Basic	$	0.18		$	–
Diluted	$	0.18		$	–
Weighted-average number of shares
Basic		92,521,482			–
Diluted		92,596,960			–
Other Financial and Operating Data
Active communities at end of period(1)		120			83
Home closings		1,002			515
Average sales price of homes closed	$	335,986		$	362,591
Net new orders		2,010			848
Cancellation rate		8.1	%		11.8	%
Backlog (at period end) – homes		3,612			1,155
Backlog (at period end, in thousands) – value	$	1,356,436		$	441,903
Gross margin(2)	$	51,130,202		$	24,028,118
Gross margin %(3)		14.9	%		12.8	%
Net profit margin		4.7	%		3.5	%

1)   A community becomes active once the model is completed or the community has its fifth sale. A community becomes inactive when it has fewer than five units remaining to sell.
2)   Gross margin is home sales revenue less cost of sales. Gross margin includes commission expense.
3)   Calculated as a percentage of home sales revenues.
4)   For the first quarter of 2021, EPS was calculated based on net income attributable to common stockholders for the period January 21, 2021 through March 31, 2021 over the weighted average diluted shares outstanding for the same period. EPS was calculated prospectively for the period subsequent to the Company’s initial public offering and corporate reorganization as described in the prospectus dated January 20, 2021 and filed with the Securities and Exchange Commission on January 22, 2021, resulting in 92,521,481 shares of common stock outstanding as of the closing of the initial public offering. And as of March 31, 2021, the diluted shares of common stock outstanding were 92,596,959.

	Three Months Ended March 31,
	2021 (unaudited)						2020 (unaudited)
	Units		Average Sales Price				Units		Average Sales Price
Home Closings:
The Carolinas (H&H Homes)	343		$	287,172			–		$	–
Jacksonville	295		$	326,023			257		$	304,657
Orlando	161		$	400,050			26		$	301,147
Colorado	34		$	445,239			47		$	460,774
DC Metro	24		$	579,653			51		$	539,285
Other (1)	145		$	334,646			134		$	383,938
Total	1,002		$	335,986			515		$	362,591

(1) Austin, Savannah, Village Park Homes, Active Adult and Custom Homes.

Dream Finders Homes, Inc.

Consolidated Balance Sheets
(Unaudited)

							March 31,				December 31,
								2021				2020
Assets
	Cash and cash equivalents						$	42,303,231			$	35,495,595
	Restricted cash (VIE amounts of $7,798,669 and $8,793,201)							49,432,884				49,715,553
	Inventories:
	Construction in process and finished homes							477,052,901				396,630,945
	Joint venture owned land and lots
		(VIE amounts of $19,781,033 and $40,900,552)						19,781,033				40,900,552
	Company owned land and lots							53,541,065				46,839,616
	Lot deposits							91,690,711				66,272,347
	Equity method investments							6,197,047				4,545,349
	Property and equipment, net							4,662,184				4,309,071
	Operating lease right-of-use assets							13,459,344				14,219,248
	Finance lease right-of-use assets							304,099				335,791
	Intangible assets, net of amortization							2,327,500				2,660,003
	Goodwill							30,360,997				28,566,232
	Deferred tax asset							571,277				–
	Other assets (VIE amounts of $708,946 and $1,288,359)							70,774,449				43,189,939
					Total assets		$	862,458,722			$	733,680,241
Liabilities
	Accounts payable (VIE amounts of $61,619 and $1,315,582)						$	53,383,908			$	37,418,693
	Accrued expenses (VIE amounts of $8,519,606 and $9,977,268)							73,525,827				67,401,055
	Customer deposits							77,405,315				59,392,135
	Construction lines of credit							315,736,182				289,878,716
	Notes payable (VIE amounts of $2,888,350 and $8,821,282)							3,880,350				29,653,282
	Operating lease liabilities							13,680,884				14,410,560
	Finance lease liabilities							305,987				345,062
	Contingent consideration							24,340,269				23,157,524
					Total liabilities		$	562,258,722			$	521,657,027
Mezzanine Equity
	Preferred mezzanine equity							6,515,415				55,638,450
	Common mezzanine equity							–				20,593,001
					Total mezzanine equity		$	6,515,415			$	76,231,451
Members’ Equity
	Common members’ equity							–				103,852,646
					Total members’ equity		$	–			$	103,852,646
Stockholders’ Equity – Dream Finders Homes, Inc.
	Class A common stock, $0.01 per share, 289,000,000
		authorized, 32,295,329 outstanding						322,953				–
	Class B common stock, $0.01 per share, 61,000,000
		authorized, 60,226,153 outstanding						602,262				–
	Additional paid-in capital							253,837,980				–
	Retained earnings							17,224,902				–
	Non-controlling interests							21,696,488				31,939,117
					Total stockholders’ and members’ equity			300,200,000				212,023,214
					Total liabilities, mezzanine equity, members’ equity and stockholders’ equity		$	862,458,722			$	733,680,241

SOURCE: Dream Finders Homes, Inc.

Investor and Analyst Contact:
Rick Moyer, Chief Financial Officer – [email protected]
Anabel Fernandez, Treasurer – [email protected]

Media Contact:
Rick Moyer, Chief Financial Officer – [email protected]
Anabel Fernandez, Treasurer – [email protected]  
Robert Riva, General Counsel – [email protected]

BOSTON, May 12, 2021 (GLOBE NEWSWIRE) — Block & Leviton LLP announces that the firm is investigating whether Aterian, Inc. (NASDAQ: ATER) committed securities fraud. Investors who have lost money should contact the firm to learn more about how they might recover those losses. For more details, please visit https://www.blockleviton.com/cases/ater.

What is this all about?

This morning, short seller Culper Research issued a report on Aterian titled “Aterian (ATER): Bought from Felons & Fraudsters, Sold to You.” In this report, Culper wrote that Aterian, formerly known as Mohawk Group Holdings, “has ties to convicted criminals and is promoting what [Culper] believe[s] is an overhyped ‘AI’ narrative and a string of garbage acquisitions to mask the failure of its already ill-conceived core business.” For example, Culper wrote that Aterian purchased Healing Solutions, which Aterian “has now pitched . . . as a ‘recurring revenue’ essential oils business, but we think this is highly deceiving: the company’s revenue growth came from hand sanitizer sales starting in June 2020,” representing “COVID-driven business that is never coming back.”

Who is eligible?

Aterian shares are down approximately 15% in intraday trading on May 4, 2021, and are down by well over 50% from their February 2021 high trading price of $48.99 per share. Investors who have lost money on their Aterian investment – whether or not they have sold that investment – are potentially eligible and should contact Block & Leviton to learn more.

What is Block & Leviton doing?

Block & Leviton is considering filing a securities class action lawsuit to attempt to recover losses on behalf of investors who have lost money.

What should you do next?

If you’ve lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at [email protected], or by phone at (617) 398-5600.

Why should you contact Block & Leviton?

Many law firms have issued releases about this matter; many of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation’s top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email [email protected] with any questions.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: [email protected]
SOURCE: Block & Leviton LLP
www.blockleviton.com

TORONTO, May 12, 2021 (GLOBE NEWSWIRE) — (TSXV: SRHI) – SRHI Inc. (“SRHI” or the “Company”) is pleased to announce that its upcoming virtual annual and special meeting of shareholders (“AGM”) will be held on June 2, 2021. Shareholders will be asked to approve a name change and expanded board of directors (the “Board”). In addition, Terry Lyons will step down as Interim CEO and be succeeded by Michael Staresinic, the Company’s current President and CFO. Mr. Lyons will remain on as independent Chair of the Board.

“Michael has been part of this Company since 2013 as CFO and most recently as President and CFO,” stated Terry Lyons, Interim CEO of the Company. “His deep knowledge of the Company and its majority-owned asset, Minera Tres Valles (“MTV”), made him a natural choice for the role. Over the past year alone, Michael has successfully steered MTV through a restructuring, managed the sales process of several legacy investments, raised capital to support MTV and transitioned the Company to focus on copper mining while exercising all duties of a public-company CFO. To aid him in this transition, the Company has initiated a search for a new CFO and I will continue solely as the independent Chairman.”

At the Company’s upcoming AGM, the Board will be seeking approval of a special resolution that will permit the Company to change its name to “Three Valley Copper Corp.” or such other name as the Board, in its sole discretion, deems appropriate. The proposed new name reflects the Company’s sole business focus and is symbolic of its majority-owned copper producing operating mine, Minera Tres Valles in Salamanca, Chile.

The Board is also proposing to the shareholders to elect Joe Phillips, current COO of MTV, to the Board. Mr. Phillips would not be considered an independent director.

Mr. Phillips is a senior mining executive with 48 years of experience in the construction, commissioning and operation of mining projects in 13 countries (7 in Latin America) on 5 continents. He has directed the construction, commissioning and operation of 11 plants and mining operations. Prior to MTV, he held senior executive roles such as Chairman, COO, VP Operations, Chief Restructuring Officer, Chief Development Officer and Senior VP Development.

Mr. Phillips is a Registered Professional Mining Engineer, graduating from the Colorado School of Mines (“CSM“), and with graduate studies in Engineering Management at the University of South Florida. At CSM he was the “Outstanding Graduate in Engineering Geology”, a member of Tau Beta Pi engineering honorary, Sigma Gamma Epsilon service honorary, and a Distinguished Military Graduate.

More information can be found in the Company’s recently filed Management Information Circular on SEDAR (www.sedar.com) or its website (www.srhi.ca/investor-information/agm/).

About SRHI Inc.

SRHI, headquartered in Toronto, Ontario, Canada is focused on the copper production growth from, and exploration of, its primary asset, MTV. Located in Salamanca, Chile, MTV is 70% owned by the Company and MTV’s main assets are the Minera Tres Valles mining complex and its 46,000 hectares of property. For more information about SRHI, please, please visit www.srhi.ca.

Cautionary Statement Regarding Forward-Looking Information

Certain statements in this news release contain forward-looking information (collectively referred to herein as the “Forward-Looking Statements”) within the meaning of applicable Canadian securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the foregoing, this news release contains Forward-Looking Statements pertaining to: the future appointment of Mr. Staresinic as CEO, the resignation of Mr. Lyons as CEO, the anticipated approval by shareholders at the AGM of the Company’s name change and director slate.

Although SRHI believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements, including: the approval by the majority of shareholders of the name change and election of directors at the AGM. Although the Company believes that the expectations and assumptions on which such Forward-Looking Statements and information are based are reasonable, undue reliance should not be placed on the Forward-Looking Statements and information as the Company cannot give any assurance that they will prove to be correct. Since Forward-Looking Statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize. Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive. Other risk factors that could affect the Company’s operations or financial results are included in the Company’s Annual Information Form dated March 3, 2021 and may be accessed through the SEDAR website (www.sedar.com). The forward-looking statements and information contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, the Company is under no obligation and does not undertake to update this information at any particular time, except as required by law.

For further information:

Michael Staresinic
President and Chief Financial Officer
T: (416) 943-7107
E: [email protected]

Renmark Financial Communications Inc.
Joshua Lavers: [email protected]
T: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

Source: SRHI Inc.