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Cybin Demonstrates Proof of Concept of Its Deuterated Tryptamines for the Treatment of Depression and Addiction

Cybin Demonstrates Proof of Concept of Its Deuterated Tryptamines for the Treatment of Depression and Addiction

TORONTO–(BUSINESS WIRE)–Cybin Inc. (NEO:CYBN) (OTCQB:CLXPF) (“Cybin” or the “Company”), a biotechnology company focused on progressing psychedelic therapeutics, today announced that it has successfully demonstrated Proof of Concept for its deuterated tryptamine programs, CYB003 and CYB004, for the treatment of depression and addiction.

Multiple long-acting psychedelic treatments have been granted Breakthrough Therapy Designation by the U.S. Food and Drug Administration (“FDA”). However, these potential treatments produce psychedelic effects that can last for extended periods of time, presenting challenges to patient access and potentially to payer reimbursement. To overcome these scalability issues, Cybin is working to optimize the duration of action of its treatments through the selective deuteration of several short-acting psychedelic tryptamines.

“This Proof-of-Concept data provides strong support for progressing Cybin’s drug development candidates, CYB003 and CYB004, towards investigational new drug (“IND”) filings with the FDA,” stated Doug Drysdale, CEO of Cybin.

An evaluation of the Company’s portfolio of psychedelic tryptamine molecules confirms that selective deuteration retains the full therapeutic pharmacology across a panel of serotonin receptors that is seen with the non-deuterated parent molecules. This Proof of Concept was demonstrated using the CEREP 5-HT selectivity panel. Previously published data have confirmed that the principal effect of deuteration has led to improved pharmacokinetics consistent with potential improvement of therapeutic benefit.1

Preliminary studies using an animal model of psychedelic action have also confirmed that deuteration modifies the pharmacokinetic profile, while retaining the therapeutic potential of these psychedelic molecules in the model.

About Cybin

Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.

Cautionary Notes and Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release may include statements regarding enhanced liquidity, the value of additional capital markets exposure, access to institutional and retail investors, the Company’s new strategic brand messaging campaign, and psychedelic drug development programs to potentially treat mental health disorders. There are numerous risks and uncertainties that could cause actual results and Cybin’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.

The NEO Exchange has neither approved nor disapproved the contents of this news release and is not responsible for the adequacy and accuracy of the contents herein.

______________

1https://ascpt.onlinelibrary.wiley.com/doi/full/10.1111/cts.12754

Investors:

Tim Regan/Scott Eckstein

KCSA Strategic Communications

[email protected]

Lisa M. Wilson

In-Site Communications, Inc.

[email protected]

Media:

John Kanakis

Cybin Inc.

[email protected]

Annie Graf

KCSA Strategic Communications

[email protected]

Faith Pomeroy-Ward

In-Site Communications, Inc.

[email protected]

KEYWORDS: United States North America Canada

INDUSTRY KEYWORDS: Science Biotechnology Research Pharmaceutical Alternative Medicine Health FDA Mental Health

MEDIA:

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Virtual End-to-End Care in Workers’ Compensation to be Presented at RIMS

CorVel Session Looks at How the Pandemic Pushed Transformation of Care, Next Steps

IRVINE, Calif., April 21, 2021 (GLOBE NEWSWIRE) — David Lupinsky, Vice President of Digital Health and Innovation, CorVel, will be co-presenter of a session exploring the impact of AI and telehealth at RIMS LIVE 2021, the world’s most prestigious risk management and insurance virtual conference.

“Disruption: How Big Data, AI and Telehealth Are Transforming Claims Management,” led by Lupinsky and Stacey Caldwell, Corporate Claims Manager, BBSI, will chronicle the journey that is transforming care for injured workers, producing better outcomes at less cost and improving the patient’s experience. The educational session is scheduled for Monday, April 26 at 4:30PM EDT but will remain available to all attendees for 60 days after the conference.

Although telehealth was already in use for workers’ compensation, the pandemic pushed its evolution forward to quickly and permanently make virtual end-to-end care possible — and even preferable — for rapid, safe recovery.

“We started several years ago by connecting with the injured worker via telehealth so we could immediately determine the best course of care, saving time off work and getting the right level of care for the injury,” said Lupinsky. “Now, we can provide remote physician visits, home pharmacy delivery, in-home tele-rehab, instruction for DME equipment operation, and mental health therapy with the case manager, the medical team and the patient all connected digitally. Patients love this approach. They are more engaged, and we’ve found that it costs less and produces superior outcomes.”

Lupinsky will also address the use of digital monitoring in prevention, as well as applying artificial intelligence and machine learning to proactively identify potential or emerging problems for immediate intervention. Caldwell will present case studies showing the effectiveness of virtual end-to-end care.

To register, please click here.

For more information, contact Joy Scott at [email protected], (818) 610-0270.

About CorVel

CorVel Corp. applies technology including artificial intelligence, machine learning and natural language processing to enhance the managing of episodes of care and the related health care costs. We partner with employers, third-party administrators, insurance companies and government agencies in managing worker’s compensation and health, auto and liability services. Our diverse suite of solutions combines our integrated technologies with a human touch. CorVel’s customized services, delivered locally, are backed by a national team to support clients as well as their customers and patients.

About RIMS

RIMS, the risk management society®, is a global not-for-profit committed to advancing the practice of risk management throughout the world. We bring networking, professional development, certification, and education opportunities to our membership of 10,000 risk management professionals in over 60 countries. Founded in 1950, the Society represents more than 3,500 industrial, service, nonprofit, charitable, and government entities throughout the world. To access RIMS Risk Knowledge resource library and for additional information about the Society, visit www.RIMS.org.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company’s current expectations, estimates and projections about the Company, management’s beliefs, and certain assumptions made by the Company, and events beyond the Company’s control, all of which are subject to change. Such forward-looking statements include, but are not limited to, statements relating to the Company’s network solution services and the Company’s continued investment in these and other innovative technologies, and statements relating to the Company’s strategic alliances within the healthcare market. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause the Company’s actual results to differ materially and adversely from those expressed in any forward-looking statement, including the risk that the impact of the COVID-19 pandemic on our business, results of operations and financial condition is greater than our initial assessment.

The risks and uncertainties referred to above include but are not limited to factors described in this press release and the Company’s filings with the Securities and Exchange Commission, including but not limited to “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended March 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the quarters ended September 30, 2020 and December 31, 2020. The forward-looking statements in this press release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

Contact: Melissa Storan
Phone: 949-851-1473

http://www.corvel.com



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Nam Tai Property Announces Issuance of Stay by the Eastern Caribbean Court of Appeal in the British Virgin Islands

PR Newswire


SHENZHEN, China
, April 21, 2021 /PRNewswire/ — Nam Tai Property Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTP) today announced that the Eastern Caribbean Court of Appeal in the British Virgin Islands (the “Court”) has granted an order (“Order”) postponing the Special Meeting previously scheduled for April 26, 2021. The Court’s Order was issued in connection with the Company’s appeal against the order of Justice Adrian Jack of March 3, 2021, in which he held that the private placement previously announced by the Company on October 5, 2020 was void and should be set aside.  The Special Meeting will be rescheduled at a later date to be determined by the Court in due course.

Forward-looking Statement and Factors that Could Cause our Share Price to Decline

Certain statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, “might”, “can”, “could”, “will”, “would”, “anticipate”, “believe”, “continue”, “estimate”, “expect”, “forecast”, “intend”, “plan”, “seek”, or “timetable”. These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business and the industry in which we operate. These statements are only predictions based on our current expectations about future events. There are several factors, many beyond our control, which could cause results to differ materially from our expectation. These risk factors are described in our Annual Report on Form 20-F and in our Current Reports filed on Form 6-K from time to time and are incorporated herein by reference. Any of these factors could, by itself, or together with one or more other factors, adversely affect our business, results of operations or financial condition. There may also be other factors currently unknown to us, or have not been described by us, that could cause our results to differ from our expectations. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements apply only as of the date of this announcement; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstance occurring after the date of this press release or those that might reflect the occurrence of unanticipated events.

ABOUT NAM TAI PROPERTY INC.

We are a real estate developer and operator, mainly conducting business in Mainland China. Our main land resources are located in the Guangdong-Hong Kong-Macao Greater Bay Area (“Greater Bay Area”) and Wuxi, China, of which the three plots in Shenzhen will be developed into Nam Tai Inno Park, Nam Tai Technology Center and Nam Tai Inno Valley. We plan to build these technology parks into landmark parks in the region and provide high-quality industrial offices, industrial service spaces and supporting dormitories to the tenants. Based on the experience of developing and operating technology parks and an industrial relationship network accumulated over the past 40 years, we have also exported the operation model of technology parks to other industrial properties. Through an asset-light model, we have leased industrial properties for repositioning and business invitation. We will also expand the commercial and residential property business in China as an auxiliary development strategy of the Company. As the growth prospects of China maintain, we shall seize development opportunities in the Greater Bay Area and other first- and second-tier cities in China, and continue to strengthen and expand the business of industrial real estate, and commercial and residential properties.

Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: “NTP”).

Please refer to our corporate website (https://www.namtai.com/) or the SEC website (www.sec.gov) for our press releases and financial statements.

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SOURCE Nam Tai Property Inc.

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Quanterix Announces Appointment of Interim Chief Financial Officer

Quanterix Announces Appointment of Interim Chief Financial Officer

BILLERICA, Mass.–(BUSINESS WIRE)–Quanterix Corporation (NASDAQ: QTRX), a company digitizing biomarker analysis with the goal of advancing the science of precision health, today announced that it has appointed Shawn Stetson as the Company’s interim chief financial officer, effective May 11, 2021. Mr. Stetson will assume his new responsibilities upon the departure of the Company’s current chief financial officer Amol Chaubal, who has accepted the chief financial officer role at Waters Corporation. Quanterix has initiated a search for a permanent replacement.

Kevin Hrusovsky, Chairman, Chief Executive Officer, and President of Quanterix commented, “With his strong background and knowledge of our Company, we have full confidence in Shawn’s ability to lead the Quanterix finance team while we identify a permanent successor. We would also like to congratulate Amol on his new role at Waters Corporation and for his contributions at Quanterix building a strong financial organization. We wish Amol and Shawn great success in the next phase of their careers.”

About Quanterix

Quanterix is a company that’s digitizing biomarker analysis with the goal of advancing the science of precision health. The company’s digital health solution, Simoa, has the potential to change the way in which healthcare is provided today by giving researchers the ability to closely examine the continuum from health to disease. Quanterix’ technology is designed to enable much earlier disease detection, better prognoses and enhanced treatment methods to improve the quality of life and longevity of the population for generations to come. The technology is currently being used for research applications in several therapeutic areas, including oncology, neurology, cardiology, inflammation and infectious disease. The company was established in 2007 and is located in Billerica, Massachusetts. For additional information, please visit https://www.quanterix.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this news release are based on Quanterix’ expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Factors that may cause Quanterix’ actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Quanterix’ filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” sections contained therein. Except as required by law, Quanterix assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

Media:

PAN Communications

Staci Didner, (407) 734-7325

[email protected]

Investor Relations:

Stephen Hrusovsky

(774) 278-0496

[email protected]

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Technology Research Infectious Diseases Other Technology Cardiology Health Other Science Science Oncology

MEDIA:

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Ionis to hold first quarter 2021 financial results webcast

Webcast scheduled for Wednesday, May 5 at 11:30 a.m. Eastern Time

PR Newswire

CARLSBAD, Calif., April 21, 2021 /PRNewswire/ — Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) announced today that it will host a live webcast on Wednesday, May 5th at 11:30 a.m. Eastern Time to discuss its first quarter 2021 financial results and report on pipeline and business progress.

Interested parties may access the webcast at https://ir.ionispharma.com/events-and-presentations/upcoming-events. A webcast replay will be available for a limited time at the same address.

About Ionis Pharmaceuticals, Inc.
For more than 30 years, Ionis has been the leader in RNA-targeted therapy, pioneering new markets and changing standards of care with its novel antisense technology. Ionis currently has three marketed medicines and a premier late-stage pipeline highlighted by industry leading neurological and cardiometabolic franchises. Our scientific innovation began and continues with the knowledge that sick people depend on us, which fuels our vision of becoming one of the most successful biotechnology companies. 

To learn more about Ionis visit www.ionispharma.com and follow us on Twitter @ionispharma.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/ionis-to-hold-first-quarter-2021-financial-results-webcast-301273211.html

SOURCE Ionis Pharmaceuticals, Inc.

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REGENXBIO To Present at the Chardan 5th Annual Genetic Medicines Manufacturing Summit

PR Newswire

ROCKVILLE, Md., April 21, 2021 /PRNewswire/ — REGENXBIO Inc. (Nasdaq: RGNX) today announced that Curran M. Simpson, Chief Operations and Technology Officer, will present at the Chardan 5th Annual Genetic Medicines Manufacturing Summit on Tuesday, April 27, 2021 at 3:15 p.m. ET. The conference will be held in a virtual meeting format.

A webcast of the fireside chat can be accessed in the Investors section of REGENXBIO’s website at www.regenxbio.com. An archived replay of the webcast will be available in the Investors section of REGENXBIO’s website for approximately 30 days following the fireside chat.

About REGENXBIO Inc.

REGENXBIO is a leading clinical-stage biotechnology company seeking to improve lives through the curative potential of gene therapy. REGENXBIO’s NAV® Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform, consists of exclusive rights to more than 100 novel AAV vectors, including AAV7, AAV8, AAV9 and AAVrh10. REGENXBIO and its third-party NAV Technology Platform Licensees are applying the NAV Technology Platform in the development of a broad pipeline of candidates in multiple therapeutic areas.

Contacts:

Tricia Truehart

Investor Relations and Corporate Communications
347-926-7709
[email protected]  

Investors:
Brendan Burns, 212-600-1902
[email protected]

Media:
David Rosen, 212-600-1902
[email protected]

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/regenxbio-to-present-at-the-chardan-5th-annual-genetic-medicines-manufacturing-summit-301273377.html

SOURCE REGENXBIO Inc.

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Cubic Expands Automated Fare Collection to Vancouver’s HandyDART System

Cubic Expands Automated Fare Collection to Vancouver’s HandyDART System

Cubic Transportation Systems will offer contactless ways for customers to pay on Metro Vancouver’s paratransit system

SAN DIEGO–(BUSINESS WIRE)–Cubic Corporation (NYSE:CUB) today announced its Cubic Transportation Systems business division is expanding the current Compass automated fare collection (AFC) system to Metro Vancouver’s 347 vehicle paratransit system, HandyDART. As of March 2021, three buses have received installations. HandyDART is a shared ride service for passengers with physical or cognitive disabilities who are unable to use conventional public transit without assistance. Cubic will provide equipment to extend existing forms of payment enjoyed by travelers on the conventional system to HandyDART customers. The expansion will enable electronic validation of Compass card product and include ‘Tap to Pay’ options such as contactless credit cards and mobile phone payments.

“We are honored to expand our partnership with TransLink to broaden the reach of the highly successful Compass fare collection system to the region’s paratransit fleet of vehicles,” said Jeff Lowinger, president of Cubic Transportation Systems. “By expanding to new operators in Vancouver, we are bringing our NextCity™ vision to life by providing a more integrated customer experience and improving operations and analytics for TransLink.”

The project will provide greater convenience and improved accessibility for travelers by offering contactless ways to pay for journeys, while improving safety and security for paratransit riders and operators through reduced cash handling. Additionally, paratransit riders will have one less barrier to TransLink’s conventional fleet of low floor with ramp and high floor with lift vehicles and accessible SkyTrain light rapid transit stations through a common fare payment platform.

“At Cubic, we strive to create convenient and easy-to-use transportation systems that meet the needs of residents and travelers in the cities we serve,” said Matt Newsome, senior vice president and general manager, North America West, Cubic Transportation Systems. “Continuing our collaboration with TransLink allows us to enhance the travel experience for Metro Vancouver paratransit riders by offering more convenient forms of payment aboard HandyDART.”

Cubic was awarded a contract from the South Coast British Columbia Transportation Authority (TransLink) in October 2020 and will deliver over 1,200 pieces of equipment, including mobile validators, driver control units and external modems. As part of the project scope, Cubic will also provide ongoing operations and maintenance support for the equipment. Full installation will begin in July 2021.

About Cubic Corporation

Cubic is a technology-driven, market-leading provider of integrated solutions that increase situational understanding for transportation, defense C4ISR, and training customers worldwide to decrease urban congestion and improve the militaries’ effectiveness and operational readiness.Our teams innovate to make a positive difference in people’s lives. We simplify their daily journeys. We promote mission success and safety for those who serve their nation. For more information about Cubic, please visit the company’s website at www.cubic.com or on Twitter @CubicCorp.

Media Contact

Lauren Jochum

Cubic Transportation Systems

865-466-3860

[email protected]

 

KEYWORDS: United States North America Canada California

INDUSTRY KEYWORDS: Other Consumer Public Transport Technology Other Defense Rail Transport Other Technology Software Consumer Defense

MEDIA:

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Nasdaq Announces 10% Increase in Quarterly Dividend to $0.54 per Share

NEW YORK, April 21, 2021 (GLOBE NEWSWIRE) — The Board of Directors of Nasdaq, Inc. (Nasdaq: NDAQ) has declared a regular quarterly dividend of $0.54 per share on the company’s outstanding common stock. The dividend is payable on June 25, 2021 to shareholders of record at the close of business on June 11, 2021. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors.

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.

Cautionary Note Regarding Forward-Looking Statements

        
Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to (i) projections relating to our future financial results, total shareholder returns, growth, trading volumes, products and services, ability to transition to new business models, taxes and achievement of synergy targets, (ii) statements about the closing or implementation dates and benefits of certain acquisitions, divestitures and other strategic, restructuring, technology, de-leveraging and capital allocation initiatives, (iii) statements about our integrations of our recent acquisitions, (iv) statements relating to any litigation or regulatory or government investigation or action to which we are or could become a party, and (v) other statements that are not historical facts. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, the impact of the COVID-19 pandemic on our business, operations, results of operations, financial condition, workforce or the operations or decisions of our customers, suppliers or business partners, and other factors detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Media Relations Contact:

Will Briganti
+1.646.964.8169
[email protected]

Investor Relations Contact:

Ed Ditmire, CFA
+1.212.401.8737
[email protected]

-NDAQF-



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Jushi Holdings Inc. Announces Certain Unaudited 2020 Fourth Quarter and Full Year 2020 Financial Results and Advises on Timing of Filing Annual Audited Financial Statements and Management’s Discussion and Analysis

—

Fourth Quarter 2020 Revenue Increased 30% Sequentially to Revenue of $32.3 million;

Gross Profit Increased 44% Sequentially to $17.6 million;

Announces First Quarter Revenues of $41.6 million

—

BOCA RATON, Fla., April 21, 2021 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced its unaudited financial results for the fourth quarter and full year ended December 31, 2020, and is announcing its unaudited first quarter 2021 revenue.

The Company previously announced that its auditor is not able to complete their audit procedures in advance of the April 30, 2021 deadline. The Company anticipates filing its 2020 audited financial statements on or before May 24, 2021.

As a result of today’s announcements, Jushi has elected to reschedule its previously announced conference call to discuss its financial results for the fourth quarter and full year ended December 31, 2020. The Company expects to reschedule the call before the end of May 2021.

In the interim, Jushi is announcing the following certain unaudited 2020 fourth quarter and full year 2020 financial results.

All financial information is provided in U.S. dollars unless otherwise indicated.

Certain Unaudited Fourth Quarter 2020 Highlights

  • Total revenue increased 30 percent sequentially to $32.3 million
  • Gross profit of $17.6 million, an increase of 44 percent sequentially
  • Income from Operations of $0.4 million, a $9.6 million improvement as compared to the fourth quarter of 2019
  • $93.8 million of cash, cash equivalents and investments in securities on the balance sheet as of December 31, 2020
  • Opened three new retail dispensaries and exercised an option to purchase an additional three dispensaries (two of which were operational)
  • Dalitso LLC, the Company’s 100 percent owned Virginia based pharmaceutical processor permit holder, commenced operations at its cultivation, manufacturing, processing, and retail facility in Manassas, Virginia

Certain Unaudited Full Year 2020 Highlights

  • Total revenue increased 690 percent year-over-year to $80.8 million
  • Gross profit of $41.5 million, an increase of 760 percent year-over-year
  • Loss from Operations of $10.5 million, a $23.7 million improvement as compared to 2019

Announces Certain Unaudited First Quarter 2021 Highlights

  • Total revenue of $41.6 million, an increase of 29 percent sequentially
  • $168 million of cash, cash equivalents and short-term investments on the balance sheet as of March 31, 2021

Management Commentary

“While we’re disappointed by the unexpected delay that our auditors have experienced in finalizing their work, we’re thrilled with the underlying strength of our business, the robust growth we have achieved in 2020, and the continued momentum we have seen into 2021,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “2020 was a defining year for the Company. Our strategy to rapidly build scale in the best limited license markets on both the East and West coast combined with our focus on operational excellence has driven strong financial results on both a sequential quarterly and year-over-year basis.” Mr. Cacioppo continued, “I am incredibly proud of the work our team accomplished in 2020. Together, we solidified our leadership position in Pennsylvania, by acquiring a grower-processor permit holder and two medical marijuana dispensary permit holders, each with licenses to operate three dispensaries. We also entered into three new markets, Illinois, California and Virginia, opened and/or acquired a total of nine retail stores, and launched a best-in-class, online shopping experience at Beyond-Hello.com. Furthermore, we established a deep and talented management team and strengthened the Company’s balance sheet with opportunistic debt and equity capital raises that allow us to fund the Company’s expansion plans and pursue opportunistic acquisitions.”

Mr. Cacioppo concluded, “With our recently announced planned acquisitions in Massachusetts and in Ohio; the previously announced expansion and build-out of our facilities in Pennsylvania and Virginia; and the continued build-out of our high-quality retail footprint across California, Pennsylvania, and Virginia, Jushi remains positioned to see continued strong growth through 2021 and beyond.”

Balance Sheet and Liquidity

As of December 31, 2020, the Company had $93.8 million of cash, cash equivalents and short-term investments. As of December 31, 2020, the Company had approximately $89 million principal amount of total debt, excluding leases and property, plant and equipment financing obligations.

Subsequent to year-end, the Company raised approximately $91 million in the aggregate from two separately marketed overnight equity offerings. As of March 31, 2021, the Company had approximately $168 million in cash, cash equivalents and short-term investments, is fully funded for the build-out of the current portfolio, and has excess liquidity to pursue opportunistic acquisitions. Additionally, subsequent to year-end, the Company redeemed $8.1 million in principal of its 10% Senior Secured Notes due January 2023 and prepaid $1.5 million of its Sellers Notes, resulting in an outstanding debt balance of approximately $82 million.

The Company’s MD&A and consolidated financial statements for the fourth quarter and financial year ended December 31, 2020, are expected to be filed on or before May 24, 2021 on SEDAR at www.SEDAR.com and can be found along with all previous public filings of the Company.

About Jushi Holdings Inc.

We are a vertically integrated cannabis company led by an industry-leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis-derived assets through opportunistic acquisitions, distressed workouts, and competitive applications. Jushi strives to maximize shareholder value while delivering high-quality products across all levels of the cannabis ecosystem. For more information, please visit jushico.com, twitter.com/wearejushi and beyond-hello.com.

Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current conditions but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, involve estimates, projections, plans, goals, forecasts, and assumptions that may prove to be inaccurate. As a result, actual results could differ materially from those expressed by such forward-looking statements and such statements should not be relied upon. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” or “believes,” or variations of such words and phrases or may contain statements that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “will continue,” “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include but are not limited to, information concerning the expectations regarding Jushi, or the ability of Jushi to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has certain expectations and has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the late filing of Jushi’s audited annual financial statements and related management’s discussion and analysis, CEO and CFO certificates, and Annual Information Form for the fiscal year ended December 31, 2020 (collectively, the “Required Filings”) by the filing deadline of April 30, 2021 (the “Filing Deadline”); whether Jushi will obtain the management cease trade order (“MCTO”) that it has applied for with the Canadian securities administrators (the “CSA”) as a result of not making the Required Filings by the Filing Deadline, and if such MCTO is obtained, whether Jushi will continue to satisfy the necessary conditions applicable thereto and, if not, whether a cease trade order will be imposed on the securities of Jushi by the CSA, the ability of Jushi to successfully achieve business objectives, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation, as well as other risks and uncertainties which are more fully described in the Company’s Management, Discussion and Analysis for the three months ended September 30, 2020, and other filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.


Not for distribution to United States newswire services or for dissemination in the United States.

For further information, please contact:

Investor Relations

Michael Perlman
Executive Vice President of Investor Relations and Treasury
[email protected]
(561) 281-0247

Media Contact

Ellen Mellody
MATTIO Communications
[email protected]
(570) 209-2947



Posted on

Future FinTech Signs Term Sheet to Purchase a Money Payment Service Company

PR Newswire

NEW YORK, April 21, 2021 /PRNewswire/ — Future FinTech Group Inc. (NASDAQ: FTFT) (“hereinafter referred to as “Future FinTech”, “FTFT” or “the Company”), a leading blockchain-based e-commerce business and a fintech service provider, announced today that on April 13, 2021, the Company signed a preliminary term sheet (the “Term Sheet”) to acquire 100% of the equity of Khyber Money Exchange Ltd. (“Khyber Exchange”) from its shareholder (the “Seller”). The Term Sheet represents terms for a proposed transaction subject to definitive documentation and is non-binding except for its ‘Exclusive Period’ and ‘Confidentiality’; and ‘Governing Law’ sections.

Khyber Exchange is a money transfer company with a platform for transferring money worldwide through one of its agent locations or via its online portal, mobile platform or over the phone. Khyber Exchange is headquartered in the UK and has offices in Germany and Italy.

According to the Term Sheet, the Company will acquire 100% of the equity of Khyber Exchange at a purchase price of €685,000 (approximately US$ 820,170). The acquisition will be subject to due diligence by the Company and the Term Sheet stipulates that the Company has a 30-day period in which it has an exclusive right to negotiate for and purchase the equity of Khyber Exchange.

Shanchun Huang, Chief Executive of Future FinTech, commented, “We are pleased about this potential acquisition as it further extends our footprint into the fintech sector. We believe that this is a high margin business that will enable us to capitalize upon an increasing level of international money flows and that it could ultimately be synergistic with the Chinese payment settlement services company, Hi-Card Business Service Co., Ltd., in which we are planning to acquire a 60% interest pending due diligence and final negotiation between the parties as disclosed in our press release on March 23, 2021. Our objective is to become diversified fintech enterprise that leverages current opportunities and integrate them into a comprehensive business platform, and to create a company that can meet current financial needs as well as anticipate and develop fintech solutions for the future.”

Rahim Sham, Chief Executive Officer of Khyber Exchange stated: “As a worldwide money transfer company, Khyber Exchange can transfer money over 130 countries through its agents or its online portal, mobile platform or over the phone. Money transfers can be picked up in its offices or via the beneficiary’s bank account which is credited with the transmitted funds within 24 to 48 hours. Khyber Exchange guarantees its customers that its transactions are executed at the best possible exchange rate, are safe and reliable and are instantly processed. The potential acquisition by FTFT will help Khyber Exchange expand its business and operation in Asia, especially in the fast-growing Chinese market.”

About Future FinTech Group Inc.

Future FinTech Group Inc. (“Future FinTech”, “FTFT” or the “Company”) is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida. The Company’s operations include a blockchain-based online shopping mall platform, Chain Cloud Mall (“CCM”), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain based application projects and financial services for the supply chain industry. The Company is also engaged in the development of blockchain based e-Commerce technology as well as financial technology. For more information, please visit http://ftft.com/.


Safe Harbor Statement

Certain of the statements made in this press release are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2020 and our other reports and filings with SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at 
http://www.sec.gov
. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Cision View original content:http://www.prnewswire.com/news-releases/future-fintech-signs-term-sheet-to-purchase-a-money-payment-service-company-301273714.html

SOURCE Future FinTech Group Inc.