Market Newsdesk

HOUSTON, Feb. 11, 2021 (GLOBE NEWSWIRE) — U.S. Energy Corp. (Nasdaq: USEG) (the “Company”), today announced the pricing of an underwritten public offering of 984,000 shares of its common stock at a price of $5.10 per share, for gross proceeds to the Company of $5,018,400, before deducting underwriting discounts and other offering expenses.

In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 147,600 shares of common stock offered in the public offering to cover over-allotments, if any.

Kingswood Capital Markets, division of Benchmark Investments, Inc., is acting as sole bookrunner for the offering.

The offering is expected to close on February 17, 2021, subject to customary closing conditions.

The shares of common stock are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-248906) previously filed with the Securities and Exchange Commission (the “SEC”) on September 18, 2020 and declared effective by the SEC on September 25, 2020. A prospectus supplement and accompanying prospectus relating to the shares of common stock being offered will be filed with the SEC.  The Company will also file a Form 8-K in connection with the underwriting agreement and the closing of the offering. Electronic copies of the prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting Kingswood Capital Markets, Attention: Syndicate Department, 17 Battery Place, Suite 625, New York, NY 10004, by telephone at (212) 404-7002, or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About U.S. Energy Corp.

U.S. Energy is an independent energy company focused on the acquisition and development of oil and gas producing properties in the United States. Our business is currently focused on targeting mature, low decline assets with existing infrastructure, which we believe allows us to maximize our return on capital in a cost effective and sustainable manner. More information about U.S. Energy Corp. can be found at www.usnrg.com.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Additional risks and uncertainties relate to completion of the registered direct offering on the anticipated terms, or at all, market conditions and the satisfaction of customary closing conditions related to the registered direct offering. Thus, actual results could be materially different. Particular uncertainties and risks include: our ability to satisfy the closing conditions of the offering; the closing of the offering; the use of proceeds of the offering and market and other conditions. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

U.S. Energy Corp.
Ryan Smith
Chief Executive Officer
(303) 993-3200
www.usnrg.com

LANSING, Mich., Feb. 11, 2021 (GLOBE NEWSWIRE) — The Michigan Progressive Women’s Caucus on Thursday called for Senate Majority Leader Mike Shirkey, R-Clarklake, to step down as leader of the Michigan Senate after calling the attack on the U.S. Capitol a “hoax” and making lewd and disturbing comments referring to “spanking” the governor on certain political issues and challenging her to a fistfight. 

The bi-cameral caucus, chaired by Rep. Laurie Pohutsky, D-Livonia, said Shirkey’s half-hearted attempt at walking his initial comments back was quickly exposed to be nothing but a ruse after an exchange between Shirkey and Lt. Gov. Garlin Gilchrist was broadcast far and wide.  

In the exchange captured by mic on the Senate rostrum, Shirkey told Gilchrist, “I frankly don’t take back any of the points I was trying to make.” 

Pohutsky and House Democratic Leader Donna Lasinski, D-Scio Twp., said the words spoken and actions taken by Shirkey show he is unfit to serve in an elected leadership post.  

“This isn’t the first time Senate Majority Leader Shirkey has feigned an apology, just to repeat the same vile and outrageous comments,” Pohutsky said. “It’s totally unacceptable the majority party leader called the unpatriotic attack on the U.S. Capitol a ‘hoax’. His degrading and disturbing comments about Gov. Whitmer send a horrible message to women across our state. Enough is enough. Shirkey should resign his leadership post in the Senate immediately.” 

“Other state Legislatures have taken steps to strip leadership and committee posts from their habitual bad actors and now it’s time for the same accountability in Michigan,” Lasinski said. “Anyone who watched the shocking videos of the insurrection at the U.S. Capitol should be outraged by Mike Shirkey’s despicable comments. The people of Michigan deserve accountability and that starts with holding accountable so-called leaders who push bogus conspiracy theories, foment violence and coddle extreme para-military groups. Republicans everywhere should demand Shirkey truly apologize or resign, or the voters will hold them accountable.”  

Lasinski has repeatedly called for accountability, including sending a letter to House Speaker Jason Wentworth calling for 18 Michigan House Republicans who signed onto lawsuits and letters fomenting Election Day conspiracy theories and lies to publicly apologize or not be seated in the 101st Legislature.  

The Michigan Progressive Women’s Caucus proudly represents and serves the women and families who call Michigan home, while encouraging greater participation of women in shaping public policy through education and advocacy. 

# # # 

Stephanie Cepak
Michigan Progressive Women's Caucus
[email protected]

CHICAGO, Feb. 11, 2021 (GLOBE NEWSWIRE) — Oil-Dri Corporation of America (NYSE: ODC), a leading manufacturer of sorbent minerals, doing business as Amlan International, today announced that the Korean Intellectual Property Office has issued Patent 28958.07.0042 entitled “Clay Product and Uses Thereof.” The patent protects the unique and proprietary mineral-based technology of two of Amlan’s natural feed additives, Varium^® for poultry and NeoPrime^® for swine, which help global producers meet consumer demands for high-quality antibiotic-free animal protein.

The patent provides a methodology for using a natural, mineral-based formulation to mitigate the effects of exposure to pathogenic bacteria and the disease-causing toxins they produce, which damage gut health and function. Amlan’s mineral is specifically selected for its chemical composition to allow for optimal thermal activation, a proprietary process that is tailored to optimize the binding capacity of each product. Varium and NeoPrime are performance feed additives that promote intestinal health and function and can replace the need for in-feed antibiotic growth promoters.

Advancements in feed additive research and formulation are helping to transform animal protein production by providing proven and reliable alternatives to in-feed antibiotics used to promote growth and productivity. Last year, the United States and the EU issued similar patents for the formulation featured in Varium and NeoPrime. China issued a similar patent in 2018.

“Feedback on Varium from poultry integrators has been incredibly positive and recognized by many, including Fox Business Network’s INNOVATION NATION series. Reports show poultry producers who incorporate Varium into their poultry production are able to improve the feed conversion rates and grow healthier birds that are less stressed and have increased the marketability of their products through improved skin, liver and feet quality,” says Dan Jaffee, President and CEO, Oil-Dri Corporation of America. Jaffee now also serves as President and General Manager of Amlan. “The Korean patent is yet another example of Amlan’s commitment to provide the global market with reliable mineral-based feed additives that can be a value-add to antibiotic-free production.”

Mineral-Based Technology

Unlike antibiotics, which are designed to kill bacteria, the patented technology includes a synergistic formula of three ingredients with distinct modes of action: (1) a surface-activated mineral that facilitates chemical binding of pathogenic intestinal bacteria and the disease-causing toxins they produce, (2) an immunomodulator that stimulates an animal’s innate immune system to naturally defend against disease and (3) an energy source for the replenishment of intestinal epithelial cells that is essential for healthy gut function. Upon inclusion of this patented technology in animal feed, current producers have effectively eliminated the use of antibiotics to promote growth and have experienced equivalent or better outcomes.

Company Information

Amlan International offers mineral-based feed additives to poultry and livestock producers. Amlan is the animal health business of Oil-Dri Corporation of America, leading global manufacturer and marketer of sorbent minerals. Oil-Dri leverages over 80 years of expertise in mineral science to selectively mine and process their unique mineral to remove impurities from fluids, including the processing of edible oils and purification of jet fuel. Oil-Dri Corporation of America doing business as “Amlan International” is a publicly traded on the New York Stock Exchange (NYSE: ODC). Amlan International sells feed additives across the world. Product availability may vary by country, associated claims do not constitute medical claims and may differ based on government requirements.

^{Category: Company News}

Reagan Culbertson
Media Contact
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/efb9d85f-95c2-446e-a151-498ee10f5785

NOT FOR DISTRIBUTION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS 
RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

VANCOUVER, British Columbia, Feb. 11, 2021 (GLOBE NEWSWIRE) — Willow Biosciences Inc. (“Willow” or the “Company“) (TSX: WLLW; WLLW.WT; OTCQX: CANSF) is pleased to announce that in connection with its previously announced bought deal offering, Willow and the syndicate of underwriters co-led by Eight Capital and BMO Capital Markets (collectively, the “Underwriters“), have agreed to increase the size of the bought deal offering. Willow will now issue 15,152,000 common shares of the Company (the “Common Shares”) at a price of $1.65 per Common Share (the “Offering Price”) for gross proceeds of approximately $25.0 million (the “Offering”).

The Company has also granted the Underwriters an over-allotment option exercisable in whole or in part for a period of 30 days following the closing of the Offering to purchase an additional 15% of the Common Shares issued under the Offering at the Offering Price.

Net proceeds from the Offering are expected to be used to help access new markets for the Company’s cannabinoid portfolio, expedite the commercialization of new cannabinoids, access additional manufacturing capacity, working capital and general corporate purposes.

The Common Shares will be offered in each of the provinces of Canada, other than Québec, pursuant to the Company’s base shelf prospectus dated October 13, 2020 (the “Shelf Prospectus“). The terms of the Offering will be described in a prospectus supplement (the “Supplement“) to be filed with the securities regulators in each of the provinces of Canada, except Québec. The closing of the Offering will be subject to certain customary conditions, including receipt of all necessary approvals including the approval of the Toronto Stock Exchange.

Copies of the Supplement, following filing thereof, and the accompanying Shelf Prospectus may be obtained on SEDAR at www.sedar.com and from Eight Capital, 100 Adelaide St W Suite 2900, Toronto, ON, M5H 1S3. The Shelf Prospectus contains, and the Supplement will contain, important detailed information about the Company and the Offering. Prospective investors should read the Supplement and accompanying Shelf Prospectus and the other documents the Company has filed on SEDAR at www.sedar.com before making an investment decision.

About Willow Biosciences Inc.

Willow is a Canadian biotechnology company based in Vancouver, British Columbia that produces high purity, plant-derived compounds that provide building blocks for the global pharmaceutical, health and wellness, and consumer packaged goods industries. Willow’s current focus is in the production of cannabinoids for the treatment for pain, anxiety, obesity, brain disorders, among other significant indications. Willow’s science team has a proven track record of developing manufacturing technologies for high purity compounds in pain and cancer treatments. Willow’s manufacturing process creates a consistent, scalable and sustainable product that allows for the discovery and development of new life changing drugs.

For further information, please visit our website at www.willowbio.com or contact:

Trevor Peters President and Chief Executive Officer T: (403) 669-4848 E: [email protected]

Troy Talkkari, CFA Vice President, Corporate Development T: (403) 618-1117 E: [email protected]

150, 2250 Boundary Road Burnaby, BC V5M 3Z3

READER ADVISORIES

No Offer

This news release is not an offer of the Common Shares for sale in the United States. The Common Shares have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“) or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Statements

This news release may include forward-looking statements including opinions, assumptions, estimates and the Company’s assessment of future plans and operations, and, more particularly, statements concerning: the Company’s ability to close the Offering; the terms of the Offering; the use of proceeds from the Offering; and the business plan of the Company, generally, including cannabinoid research and production. When used in this news release, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company which include, but are not limited to: the receipt of all approvals and satisfaction of all conditions to the completion of the Offering; and the successful implementation of Willow’s production and commercialization strategy, generally. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, risks associated with: the cannabinoid industry in general; the success of the Company’s research and development strategies; infringement on intellectual property; failure to benefit from partnerships or successfully integrate acquisitions; actions and initiatives of federal and provincial governments and changes to government policies and the execution and impact of these actions, initiatives and policies; import/export and research restrictions for cannabinoid-based operations; the size of the medical-use and adult-use cannabinoid market; competition from other industry participants; adverse U.S., Canadian and global economic conditions; adverse global events and public-health crises, including the current COVID-19 pandemic; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Company’s most recent Annual Information Form and Management’s Discussion and Analysis for additional risk factors relating to Willow, which can be accessed either on Willow’s website at www.willowbio.com or under the Company’s profile on www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.