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Largo Resources Announces First Quarter 2021 Production and Sales Results; Strong Vanadium Market Fundamentals Continue

Largo Resources Announces First Quarter 2021 Production and Sales Results; Strong Vanadium Market Fundamentals Continue

  • V2O5 production of 1,986 tonnes (4.4 million lbs1) in Q1 2021 vs. 2,831 tonnes in Q1 2020; Lower production in Q1 2021 was largely a result of the planned shutdown associated with the Company’s cost-efficient nameplate capacity increase
  • Commissioning and ramp up of cost-efficient nameplate capacity increase to 1,100 tonnes of V2O5 per month to be completed by the end of Q2 2021
  • Global V2O5 recovery rate2 of 77.4% in Q1 2021, a 3% decrease over Q1 2020
  • Total V2O5 equivalent sales of 2,783 tonnes in Q1 2021, a 12% decrease over Q1 2020 mainly due to lower production during Q1 2021
  • Strong vanadium price increases with main indexes in Europe and U.S. up approximately 30% to 50% in Q1 2021 on the back of solid demand in all key regions
  • 2021 production, sales and cost guidance maintained

TORONTO–(BUSINESS WIRE)–
Largo Resources Ltd. (“Largo” or the “Company“) (TSX: LGO) (NASDAQ: LGO) announces first quarter 2021 production and sales results from its Maracás Menchen Mine featuring quarterly production of 1,986 tonnes (4.4 million lbs1) of vanadium pentoxide (“V2O5”) and sales of 2,783 tonnes of V2O5 equivalent.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210419005236/en/

Largo Resources Announces First Quarter 2021 Production and Sales Results; Strong Vanadium Market Fundamentals Continue (Photo: Business Wire)

Largo Resources Announces First Quarter 2021 Production and Sales Results; Strong Vanadium Market Fundamentals Continue (Photo: Business Wire)

Paulo Misk, President and Chief Executive Officer for Largo, stated: “Production was largely impacted during the quarter as a result of the planned shutdown to complete the upgrades and improvements associated with the Company’s cost-efficient nameplate increase to 1,100 tonnes of V2O5 per month. The related work for this project concluded in January 2021 and we expect to reach the new nameplate capacity by the end of Q2 2021, following the required commissioning and ramp up phases.” He continued: “Strong vanadium demand in the Company’s key regions has continued in Q1 2021 with solid volume increases in the steel and chemical sectors. This was highlighted by a more than 50% increase in Europe’s average V2O5 price per lb during Q1 2021 as quoted by Fastmarkets Metal Bulletin. As a result of the severe impacts of COVID-19 pandemic, vanadium demand from the aerospace sector continues to lag, but we expect a gradual recovery from Q3 2021 onwards. Overall vanadium demand is expected to remain solid throughout 2021 as stimulus packages linked to the COVID-19 economic recovery are implemented. A continuous focus on global carbon emission reduction will also support the increased use of vanadium in the traditional steel market as well as in the fast-growing long duration energy storage sector. Recent sales of large scale VRFB systems around the world is further confirming the adaptation of this technology and we remain extremely focused on developing our clean energy division to service to this market with our VCHARGE± battery.”

A summary of the Company’s Q1 2021 production and sales results is presented below:

Maracás Menchen Mine Production and Sales

Q1 2021

Q1 2020

 

 

 

Total Ore Mined (tonnes)

263,966

203,966

Ore Grade Mined – Effective Grade (%)3

1.22

1.61

 

 

 

Effective Grade of Ore Milled (%)3

1.26

1.59

Concentrate Produced (tonnes)

100,467

100,072

Grade of Concentrate (%)

3.21

3.36

Contained V2O5 (tonnes)

3,223

3,365

 

 

 

Crushing Recovery (%)

96.8

98.3

Milling Recovery (%)

97.1

98.4

Kiln Recovery (%)

88.9

88.3

Leaching Recovery (%)

97.1

96.6

Chemical Plant Recovery (%)

95.3

96.8

Global Recovery (%)2

77.4

79.9

 

 

 

V2O5 produced (Flake + Powder) (tonnes)

1,986

2,831

V2O5 produced (equivalent pounds)1

4,378,375

6,241,279

V2O5 equivalent sold (tonnes)

2,783

3,170

Q1 2021 Production Results

Total production from the Maracás Menchen Mine was 1,986 tonnes of V2O5, representing a decrease of 30% over Q1 2020. This reduction is largely a result of the planned shutdown to implement upgrades to the kiln and improvements in the cooler. During this shutdown, the Company increased its intermediate stockpiles which is expected to benefit production in the next quarter. Following the commissioning and ramp up phase, these upgrades are expected to increase the Company’s nameplate capacity to 1,100 tonnes of V2O5 per month by the end of Q2 2021. The Company also conducted a preventative maintenance program downstream of the kiln and cooler during this downtime.

In Q1 2021, 263,966 tonnes of ore with an effective V2O5 grade3 of 1.22% were mined compared to 203,966 tonnes in Q1 2020 with an effective V2O5 grade3 of 1.61%. The Company also produced 100,467 tonnes of concentrate ore with an average V2O5 grade of 3.21% in Q1 2021 compared to 100,072 tonnes in Q1 2020 with an average V2O5 grade of 3.36%.

The Company achieved a global V2O5 recovery rate2 of 77.4% in Q1 2021 representing a decrease of 3.0% over Q1 2020 (79.9%). This is primarily due to the planned shutdown in January 2021 and the subsequent commissioning and ramp up activities in February and March 2021. These activities are expected to conclude by the end of Q2 2021 at which point the Company expects the global recoveries2 will return to levels achieved in 2020.

COVID-19 Preventative Measures

The Company continues to monitor the evolving COVID-19 pandemic and has taken preventative measures at its mine site and corporate offices to mitigate potential risks. Although there have been some challenges with logistics, there continues to be no significant impact on the Company’s production or on the shipment of products out of Maracás. To date, there continues to be no significant disruption to the Company’s supply chain for its operations and the level of critical consumables continues to be at normal levels. In addition, the restrictions imposed by the government in Brazil have not significantly impacted operations. The Company continues to follow the recommendations provided by health authorities and all corporate office personnel have been instructed to work from home where possible. The Company continues to staff critical functions at the Maracás Menchen Mine and has encouraged those in non-essential roles to work from home.

The Company’s 2021 guidance is presented on a “business as usual” basis. The Company continues to monitor measures being imposed by governments globally to reduce the spread of COVID-19 and the impact that this may have on the Company’s operations, sales and guidance for 2021. Although these restrictions have not, to date, had a material impact on the Company’s operations and sales, the potential future impact of COVID-19 both in Brazil and globally could have a significant impact on the Company’s operations, sales efforts and logistics. The Company is continuing to monitor the rapidly developing impacts of the COVID-19 pandemic and will take all possible actions to help minimize the impact on the Company and its people. However, these actions may significantly change the guidance and forecasts presented and will, if and when necessary, update its guidance accordingly.

About Largo Resources

Largo Resources is an industry preferred, vertically integrated vanadium company. It services multiple vanadium market applications through the supply of its unrivaled VPURE™ and VPURE+™ products, from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine located in Brazil. Largo is also focused on the advancement of renewable energy storage solutions through its world-class VCHARGE± vanadium redox flow battery technology. The Company’s common shares are listed on the Toronto Stock Exchange under the symbol “LGO”.

For more information on Largo and VPURE™, please visit www.largoresources.com and www.largoVPURE.com.

For additional information on Largo Clean Energy, please visit www.largocleanenergy.com.

Forward-looking Information:

This press release contains forward-looking information under Canadian securities legislation, some of which may be considered “financial outlook” for the purposes of application Canadian securities legislation (“forward-looking statements”). Forward-looking information in this press release includes, but is not limited to, statements with respect to the timing and amount of estimated future production and sales; costs of future activities and operations; the extent of capital and operating expenditures; the iron ore price environment, the timing and cost related to the build out of the ilmenite plan, eventual production from the ilmenite plant, the ability to sell ilmenite on a profitable basis and the extent and overall impact of the COVID-19 pandemic in Brazil and globally. Forward-looking information in this press release also includes, but is not limited to, statements with respect to our ability to build, finance and operate a VRFB business, our ability to complete a listing on the Nasdaq, our ability to protect and develop our technology, our ability to maintain our IP, our ability to market and sell our VCHARGE± battery system on specification and at a competitive price, our ability to secure the required production resources to build our VCHARGE± battery system, our ability to produce iron ore and the adoption of VFRB technology generally in the market. 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 statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking 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 Largo or Largo Clean Energy to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on SEDAR from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo’s annual and interim MD&As which also apply.

1 Conversion of tonnes to pounds, 1 tonne = 2,204.62 pounds or lbs.

2Global recovery is the product of crushing recovery, milling recovery, kiln recovery, leaching recovery and chemical plant recovery.

3Effective grade represents the percentage of magnetic material mined multiplied by the percentage of V2O5 in the magnetic concentrate.

Investor Relations:

Alex Guthrie

Senior Manager, External Relations

[email protected]

Tel: +1 416-861-9797

Media Enquiries:

Crystal Quast

Bullseye Corporate

[email protected]

Tel: +1 647-529-6364

KEYWORDS: South America North America Canada Brazil

INDUSTRY KEYWORDS: Other Energy Natural Resources Alternative Energy Energy Steel Chemicals/Plastics Mining/Minerals Manufacturing

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Largo Resources Announces First Quarter 2021 Production and Sales Results; Strong Vanadium Market Fundamentals Continue (Photo: Business Wire)
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Six Flags Hosts National Hiring Week

Six Flags Hosts National Hiring Week

Company Offering Competitive Wages and Exclusive Perks for Team Members

ARLINGTON, Texas–(BUSINESS WIRE)–Six Flags EntertainmentCorporation, the world’s largest regional theme park company and largest operator of waterparks in North America, is looking for energetic team members who want to work where they play. Recognized for the fifth year in a row as one of the Nation’s Best and Brightest Companies to Work For®, Six Flags is hosting National Hiring Week, April 23-May 2, at all of its US locations. The company is hiring for a number of rewarding positions in food service, ride operations, lifeguarding, retail, warehousing, janitorial, maintenance, and security. Applicants may apply online at www.sixflags.com/jobs for a virtual and contact-free process, where they can be interviewed one day, and start earning the next. Additionally, for the first time and for a limited time, new employees will receive a Gold Plus membership for themselves and up to three family members.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210419005235/en/

The Thrill is Calling and Six Flags is hiring! Come work where you play and build a rewarding career. Immediate openings are available. Apply at www.sixflags.com/jobs. (Photo: Business Wire)

The Thrill is Calling and Six Flags is hiring! Come work where you play and build a rewarding career. Immediate openings are available. Apply at www.sixflags.com/jobs. (Photo: Business Wire)

“With spring in full swing, and summer just around the corner, the Thrill is Calling to come and be a part of the Six Flags family,” said Executive Vice President and Chief Administrative Officer Laura Doerre. “We offer tremendous flexibility for students and part-time wage earners, as well as retirees. We have a job for every lifestyle, including many full-time career placements, and Six Flags is committed to creating a diverse and inclusive workplace with great opportunities for leadership development in the hospitality industry and beyond. We want to be the employer of choice,” continued Doerre.

To apply, visit www.sixflags.com/jobs for immediate openings.

About Six Flags Entertainment Corporation

Six Flags Entertainment Corporation is the world’s largest regional theme park company with 27 parks across the United States, Mexico and Canada. For nearly 60 years, Six Flags has entertained hundreds of millions of families with world-class coasters, themed rides, thrilling waterparks and unique attractions. Six Flags is committed to creating an inclusive environment that fully embraces the diversity of our team members and guests. For more information, visit www.sixflags.com

Follow us on Twitter @SixFlags

Like us on Facebook at facebook.com/sixflags

Media Contact:

Sandra Daniels

972.595.5178

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Professional Services Entertainment Theme Parks Human Resources Destinations Travel

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The Thrill is Calling and Six Flags is hiring! Come work where you play and build a rewarding career. Immediate openings are available. Apply at www.sixflags.com/jobs. (Photo: Business Wire)
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The Thrill is Calling and Six Flags is looking for energetic team members who want to work where they play! There are lots of great jobs available and you can start right away. Apply online at www.sixflags.com/jobs. (Photo: Business Wire)
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Come and be a part of the Six Flags family and work where you play! Team members receive tons of great benefits including free tickets for family and friends. Immediate openings are available, visit www.sixflags.com/jobs. (Photo: Business Wire)
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Six Flags has jobs that fit every lifestyle. Six Flags team members receive great benefits including free tickets for family and friends, flexible hours, and exclusive team member events. Apply now for immediate openings at www.sixflags.com/jobs. (Photo: Business Wire)
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RingCentral Announces Date of First Quarter 2021 Financial Results Conference Call

RingCentral Announces Date of First Quarter 2021 Financial Results Conference Call

BELMONT, Calif.–(BUSINESS WIRE)–RingCentral, Inc. (NYSE: RNG), a leading provider of global enterprise cloud communications, video meetings, collaboration, and contact center solutions, today announced that it will report financial results for the first quarter ended March 31, 2021 after market close on Tuesday, May 4, 2021. The company also announced that it will hold a conference call on the same day at 2:00 PM Pacific Time (5:00 PM Eastern Time) to discuss its quarterly financial results.

The conference call can be accessed by dialing (877) 705-6003 from the United States or (201) 493-6725 internationally with reference to the company name and conference title, and a live webcast and replay of the conference call can be accessed from the investor relations page of RingCentral’s company website at http://ir.ringcentral.com. Following the completion of the call through 11:59 PM Eastern Time on May 11, 2021, a telephone replay will be available by dialing (844) 512-2921 from the United States or (412) 317-6671 internationally with recording access code 13718511.

About RingCentral

RingCentral, Inc. (NYSE: RNG) is a leading provider of business cloud communications and contact center solutions based on its powerful Message Video Phone™    (MVP™) platform. More flexible and cost effective than legacy on-premise PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral offers three key products in its portfolio including RingCentral Office® , a Unified Communications as a Service (UCaaS) platform including team messaging, video meetings, and a cloud phone system, Glip ®  the company’s free video meetings solution with team messaging that enables Smart Video Meetings™, and RingCentral cloud Contact Center solutions. RingCentral’s open platform integrates with leading third party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world.

© 2021 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone,   MVP, RingCentral Office, Glip, Smart Video Meetings, and the RingCentral logo are trademarks of RingCentral, Inc.

Investor Relations Contact:

Ryan Goodman, RingCentral

(650) 918-5356

[email protected]

Media Contact:

Mariana Leventis, RingCentral

(650) 562-6545

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Data Management Technology VoIP Audio/Video Telecommunications Mobile/Wireless Software

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Humanigen Reports Positive Data With Lenzilumab in the ZUMA-19 CAR-T Phase 1b Study in DLBCL and Plans to Initiate a Potential Registrational Study

Humanigen Reports Positive Data With Lenzilumab in the ZUMA-19 CAR-T Phase 1b Study in DLBCL and Plans to Initiate a Potential Registrational Study

  • At the recommended Phase 2 dose, lenzilumab in combination with CAR-T, demonstrated a 100% objective response rate (ORR) and no severe cytokine release syndrome or severe neurotoxicity
  • Lenzilumab reduced IL-6, CRP, ferritin, MCP-1, IL-8, and IP-10 (CXCL-10) among others
  • Humanigen now plans to conduct a randomized, potentially registrational, Phase 2 study with lenzilumab combined with all commercially available CD19 CAR-T therapies in DLBCL
  • Humanigen has terminated the ZUMA-19 clinical collaboration agreement with Kite, a Gilead Company

BURLINGAME, Calif.–(BUSINESS WIRE)–
Humanigen, Inc. (Nasdaq: HGEN) (“Humanigen”), a clinical-stage biopharmaceutical company focused on preventing and treating an immune hyper-response called ‘cytokine storm’ with its lead drug candidate, lenzilumab™, today announced positive data from the Phase 1b portion of ZUMA-19 evaluating the efficacy and safety of lenzilumab in patients treated with CAR-T in diffuse large B-cell lymphoma (DLBCL). At the recommended Phase 2 dose of lenzilumab, the ORR was 100% and no patient experienced severe cytokine release syndrome (CRS) or severe neurotoxicity (NT).

ZUMA-19 was a clinical study designed to evaluate the efficacy and safety of lenzilumab and CAR-T (axicabtagene ciloleucel, Axi-Cel) in patients with relapsed or refractory DLBCL.

This study was a standard 3+3 design with three patients administered 600 mg lenzilumab (cohort 1) and three patients administered 1,800 mg lenzilumab (cohort 2) just prior to CAR-T. The recommended Phase 2 dose was determined to be 1,800 mg.

In the six study patients, the ORR was 83% (n=5) which included four complete responses (CR). In cohort 1, there was no severe CRS (≥ grade 3). One patient experienced grade 3 NT with a two-day duration. At the recommended Phase 2 dose (cohort 2), ORR was 100% (n=3) and the toxicity-free CR (CRS and NT < grade 2) was 66% (n = 2). There was no severe CRS or severe NT at the recommended Phase 2 dose. There were no adverse events attributed to lenzilumab across the study.

Inflammatory markers were correlated with reduced rates of CRS and NT. Lenzilumab dose-dependently reduced myeloid cytokines IL-6, IL-8, MCP-1, and IP-10 (CXCL-10) and systemic inflammatory markers CRP, ferritin, and SAA.

“These encouraging results from ZUMA-19 provide further proof of concept that lenzilumab may break the linkage between efficacy and toxicity (CRS and NT) widely-associated with CAR-T, and may improve durability of response,” said Dale Chappell, MD, MBA, Chief Scientific Officer, Humanigen. “We believe these data warrant a larger study involving multiple CAR-T therapies.”

Humanigen will initiate a randomized, multicenter, potentially registrational, Phase 2 study to evaluate the efficacy and safety of lenzilumab combined with all commercially available CD19 CAR-T therapies in DLBCL. The study plans to enroll approximately 150 patients and the protocol is being submitted to FDA.

Humanigen has terminated the clinical collaboration agreement with Kite related to ZUMA-19 and both parties will collaborate to wind down current study activities.

“Humanigen is pleased to be in a position to proactively develop lenzilumab across the CAR-T landscape and further expand its pipeline,” said Cameron Durrant, MD, MBA, Chief Executive Officer, Humanigen. “We thank Kite for their sponsorship and contribution that has allowed Humanigen to progress to this exciting point.”

About Humanigen, Inc.

Humanigen, Inc. is developing its portfolio of clinical and pre-clinical therapies for the treatment of cancers and infectious diseases via its novel, cutting-edge GM-CSF neutralization and gene-knockout platforms. Humanigen believes that its GM-CSF neutralization and gene-editing platform technologies have the potential to reduce the inflammatory cascade associated with coronavirus infection. Humanigen’s immediate focus is to prevent or minimize the cytokine release syndrome that precedes severe lung dysfunction and Acute Respiratory Distress Syndrome (ARDS) in cases of SARS-CoV-2 infection and has completed a 520 patient Phase 3 study. Humanigen is also focused on creating next-generation combinatory gene-edited CAR-T therapies using strategies to improve efficacy while employing GM-CSF gene knockout technologies to control toxicity. In addition, Humanigen is developing its own portfolio of proprietary first-in-class EphA3-CAR-T for various solid cancers and EMR1-CAR-T for various eosinophilic disorders. Lenzilumab is the first and only anti-human GM-CSF treatment to be tested in the NIH ACTIV-5/BET-B clinical trial. Lenzilumab is being investigated in combination with remdesivir and will be compared with remdesivir alone. Two hundred hospitalized patients 18 years old and greater who need medical care for COVID-19 infection will be enrolled and randomized, half of whom will receive lenzilumab. The evaluation of lenzilumab in this Phase 2 trial began in October 2020 and is expected to be completed in the second half of 2021. Humanigen is also exploring the effectiveness of its GM-CSF neutralization technologies (either through the use of lenzilumab as a neutralizing antibody or through GM-CSF gene knockout) in combination with other CAR-T, bispecific or natural killer (NK) T-cell-engaging immunotherapy treatments to break the efficacy/toxicity linkage, including to prevent and/or treat Graft versus Host Disease (GvHD) in patients undergoing allogeneic hematopoietic stem cell transplantation (HSCT). For more information, visit www.humanigen.com and follow Humanigen on LinkedIn, Twitter, and Facebook.

Humanigen Forward-Looking Statements

All statements other than statements of historical facts contained in this press release are forward-looking statements. Forward-looking statements reflect management’s current knowledge, assumptions, judgment, and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, they give no assurance that such expectations will prove to be correct, and you should be aware that actual events or results may differ materially from those contained in the forward-looking statements. Words such as “will,” “expect,” “intend,” “plan,” “potential,” “possible,” “goals,” “accelerate,” “continue,” and similar expressions identify forward-looking statements, including, without limitation, statements regarding Humanigen’s beliefs relating to the technologies in Humanigen’s current pipeline.

Forward-looking statements are subject to a number of risks and uncertainties including, but not limited to, the risks inherent in our lack of profitability and potential need for additional capital to grow our business; our dependence on partners to further the development of our product candidates; the uncertainties inherent in the development and launch of any new pharmaceutical product; the outcome of pending or future litigation; and the various risks and uncertainties described in the “Risk Factors” sections of our latest annual and quarterly reports and other filings with the SEC.

All forward-looking statements are expressly qualified in their entirety by this cautionary notice. You should not rely upon any forward-looking statements as predictions of future events. We undertake no obligation to revise or update any forward-looking statements made in this press release to reflect events or circumstances after the date hereof, to reflect new information or the occurrence of unanticipated events, to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, in each case, except as required by law.

Humanigen Media

Grace Catlett

RXMD

[email protected]

516-318-8563

Humanigen Investors

Alan Lada

Solebury Trout

[email protected]

617-221-8006

KEYWORDS: South Korea United States North America Asia Pacific California

INDUSTRY KEYWORDS: Other Health Research General Health Pharmaceutical Oncology Genetics Clinical Trials Science Biotechnology FDA Other Science Health

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CI Global Asset Management Announces Completion of ETF and Mutual Fund Mergers and Related ETF Distributions

CI Global Asset Management Announces Completion of ETF and Mutual Fund Mergers and Related ETF Distributions

TORONTO–(BUSINESS WIRE)–CI Global Asset Management (“CI GAM”) today announced that it has completed the mergers of two mutual funds and five exchange-traded funds.

The previously announced mergers, which followed the receipt of the required unitholder and regulatory approvals, were completed after the close of business on April 16, 2021 and are described below.

Mutual Fund Mergers

Terminating Mutual Fund

Continuing Mutual Fund

First Asset Canadian Dividend Opportunity Fund

CI North American Dividend Fund

First Asset Utility Plus Fund

Signature Global Infrastructure Fund

Unitholders of each Terminating Mutual Fund have received the equivalent dollar value of units in the corresponding class or series of the corresponding Continuing Mutual Fund as at April 16, 2021. Each Terminating Mutual Fund has now been terminated.

ETF Mergers

Terminating ETF

Continuing ETF

CI First Asset Morningstar Canada Dividend Target 30 Index ETF (TSX: DXM)

CI WisdomTree Canada Quality Dividend Growth Index ETF (TSX: DGRC)

CI First Asset Canadian Buyback Index ETF

(TSX: FBE)

CI WisdomTree Canada Quality Dividend Growth Index ETF (TSX: DGRC)

CI First Asset U.S. Buyback Index ETF

(TSX: FBU)

CI WisdomTree U.S. Quality Dividend Growth Index ETF (TSX: DGR)

CI First Asset European Bank ETF (TSX: FHB)

CI First Asset Global Financial Sector ETF

(TSX: FSF)

CI First Asset Morningstar US Dividend Target 50 Index ETF (TSX: UXM, UXM.B)

CI WisdomTree U.S. Quality Dividend Growth Index ETF (TSX: DGR, DGR.B)

Unitholders of each Terminating ETF have received units of the Continuing ETF based on the stated exchange ratio (the “Exchange Ratio”), as set out in the table below, for each unit of the Terminating ETF held as at April 16, 2021. No fractional units of the Continuing ETF, or cash in lieu thereof, were issued or paid pursuant to the mergers. The total number of units of the Continuing ETF issued to each Terminating ETF is also set out in the table below.

Terminating ETF

Continuing ETF

Exchange Ratio

Total Number of Continuing ETF Units Issued in respect of the Merger

CI First Asset Morningstar Canada Dividend Target 30 Index ETF (TSX: DXM)

CI WisdomTree Canada Quality Dividend Growth Index ETF

(TSX: DGRC)

0.368473:1

361,184

CI First Asset Canadian Buyback Index ETF (TSX: FBE)

CI WisdomTree Canada Quality Dividend Growth Index ETF

(TSX: DGRC)

0.873024:1

218,256

CI First Asset U.S. Buyback Index ETF (TSX: FBU)

CI WisdomTree U.S. Quality Dividend Growth Index ETF

(TSX: DGR)

1.13478:1

453,912

CI First Asset European Bank ETF (TSX: FHB)

CI First Asset Global Financial Sector ETF (TSX: FSF)

0.316643:1

538,161

CI First Asset Morningstar US Dividend Target 50 Index ETF

(TSX: UXM)

CI WisdomTree U.S. Quality Dividend Growth Index ETF

(TSX: DGR)

0.515426:1

759,921

CI First Asset Morningstar US Dividend Target 50 Index ETF

(TSX: UXM.B)

CI WisdomTree U.S. Quality Dividend Growth Index ETF

(TSX: DGR.B)

0.572133:1

213,865

Units of the Terminating ETFs were delisted from the Toronto Stock Exchange at the close of business on April 16, 2021.

Related ETF Distributions

The mergers, other than the merger of CI First Asset European Bank ETF, did not result in a taxable disposition for unitholders; however, the mergers resulted in certain ETFs paying distributions, as detailed below. The merger of CI First Asset European Bank ETF took place on a taxable basis and would be considered a disposition for tax purposes. The ETF distributions were not paid in cash but have been reinvested and the resulting units immediately consolidated so that the number of units held by each investor has not changed.

ETF

TSX Ticker

Reinvested Distribution Amount (reinvested and consolidated)

CI WisdomTree U.S. Quality Dividend Growth Index ETF

DGR

DGR.B

$2.268341

$1.259147

CI WisdomTree Canada Quality Dividend Growth Index ETF

DGRC

$1.587223

CI First Asset Morningstar Canada Dividend Target 30 Index ETF

DXM

$0.054140 

CI First Asset Canadian Buyback Index ETF

FBE

$0.994556

CI First Asset U.S. Buyback Index ETF

FBU

$0.822978

CI First Asset European Bank ETF

FHB

$0.000000

CI First Asset Global Financial Sector ETF

FSF

$0.000000

CI First Asset Morningstar US Dividend Target 50 Index ETF

UXM

UXM.B

$0.061608

$0.053172

CI GAM undertook the mergers to reduce duplication in its fund lineup and to create larger, more efficient funds with increased potential for diversification opportunities. The costs and expenses associated with the mergers were being borne by CI GAM and not the funds.

About CI Global Asset Management

CI Global Asset Management is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the Web at www.ci.com. CI GAM is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an independent company offering global asset management and wealth management advisory services with approximately $240.6 billion in total assets as at March 31, 2021.

Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds, including exchange-traded funds (ETFs). Please read the prospectus before investing. Important information about the mutual fund is contained in its prospectus. Mutual funds are not guaranteed; their values change frequently and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase exchange-traded funds (ETFs) managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor. Some conditions apply.

CI Global Asset Management is a registered business name of CI Investments Inc. ©CI Investments Inc. 2021. All rights reserved.

Murray Oxby

Vice-President, Corporate Communications

CI Global Asset Management

416-681-3254

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Banking Professional Services Finance

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Home Capital to Report First Quarter 2021 Financial Results

Home Capital to Report First Quarter 2021 Financial Results

TORONTO–(BUSINESS WIRE)–
Home Capital Group Inc. (TSX:HCG) (“Home Capital” or “the Company”) will report financial results for the three months ended March 31, 2021 on Thursday, May 13, 2021 before markets open.

Home Capital’s executive management will host an audio conference call webcast on the same day at 8:00 a.m. EDT. Management will discuss the Company’s financial results and follow with a question-and-answer period for analysts and investors.

Participants may register in advance for the conference call by visiting https://event.on24.com/wcc/r/3081856/712DB0DCEF4892D3E8097FD250668A48.

The conference call will also be webcast live on the Company’s website. Presentation slides accompanying the live audio webcast will be available on Home Capital’s website at www.homecapital.com in the Investors section of the website.

The archived audio webcast will be available for 90 days on the Company’s website at www.homecapital.com.

About Home Capital: Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of residential mortgage products, consumer lending and credit card services. In addition, Home Trust offers deposits via brokers and financial planners, and through a direct-to-consumer brand, Oaken Financial. Home Trust also conducts business through its wholly owned subsidiary, Home Bank. Licensed to conduct business across Canada, we have offices in Ontario, Alberta, British Columbia, Nova Scotia, and Quebec.

Jill MacRae

VP, Investor Relations and ESG

416-933-4991

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Banking Professional Services Finance

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Innovative Industrial Properties Acquires Michigan Property and Expands Real Estate Partnership with Green Peak Industries (Skymint Brands)

Innovative Industrial Properties Acquires Michigan Property and Expands Real Estate Partnership with Green Peak Industries (Skymint Brands)

SAN DIEGO–(BUSINESS WIRE)–
Innovative Industrial Properties, Inc. (IIP), the first and only real estate company on the New York Stock Exchange (NYSE: IIPR) focused on the regulated U.S. cannabis industry, announced today that it closed on the acquisition of a property located at 9410 Davis Highway in Windsor, Michigan.

The purchase price for the property was approximately $15.6 million (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease agreement with Green Peak Industries LLC (also known as Skymint Brands or Skymint), which intends to operate the property as a regulated cannabis cultivation, processing and distribution facility, upon completion of redevelopment of the approximately 175,000 square foot industrial building. In connection with the redevelopment of the property, IIP has agreed to provide reimbursement of up to approximately $14.4 million. Assuming full reimbursement for the redevelopment of the property, IIP’s total investment in the property will be $30.0 million.

In addition to this property, IIP owns and leases to Skymint seven other properties in Michigan, including a cultivation and processing facility and six retail locations, representing approximately 262,000 square feet in the aggregate and a total investment of approximately $57.6 million (including the commitment to reimburse Skymint for redevelopment of this property).

As the pioneering real estate investment trust (REIT) for the medical-use cannabis industry, IIP partners with experienced medical-use cannabis operators and serves as a source of capital by acquiring and leasing back their real estate assets, in addition to offering other creative real estate-based capital solutions.

“We have been Skymint’s long-term real estate partner since 2018, and are excited to partner with them again on the redevelopment of this new property that is expected to dramatically expand Skymint’s cannabis production capacity to meet the tremendous demand across the state, and support Skymint’s continued dispensary expansion plans,” said Paul Smithers, President and Chief Executive Officer of IIP.

Skymint’s seasoned management team is led by Jeff Radway, co-founder and CEO, with Skymint’s operations employing over 400 people. As one of the largest vertically integrated regulated cannabis operators in Michigan, Skymint operates two indoor cultivation facilities totaling approximately 74,000 square feet of production space, a 200-acre outdoor cultivation area, two processing facilities and twelve dispensaries, with plans to open more than a dozen additional dispensaries over the next year.

“We are very happy to team again with IIP on this new property, and appreciate all of their support in facilitating our expansion over the past three years,” said Jeff Radway, Co-Founder and CEO of Skymint. “IIP has been an instrumental real estate capital partner, effectively addressing our expansion needs on our timeframes, and we look forward to working closely with IIP on the redevelopment of this property, creating a state-of-the-art facility that produces the high quality, consistent products our patients and customers have come to expect from us, with an operation that provides good jobs, opportunities for career advancement for local residents and financial support to our community.”

According to the Michigan Marijuana Regulatory Agency, total regulated adult-use and medical-use cannabis sales in 2020 neared $1.0 billion, continuing on a strong growth trajectory. As a part of this growth, Leafly estimates that Michigan more than doubled employment in the regulated cannabis industry in 2020 alone, growing to over 18,000 jobs at the end of the year. As of today, IIP’s total investment, including committed funding for future tenant improvements, for the properties IIP owns in Michigan is approximately $193.3 million.

As of April 19, 2021, IIP owned 69 properties located in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia and Washington, representing a total of approximately 6.2 million rentable square feet (including approximately 2.3 million rentable square feet under development/redevelopment), which were 100% leased with a weighted-average remaining lease term of approximately 16.7 years. As of April 19, 2021, IIP had committed approximately $1.5 billion across its portfolio, including capital invested to date (excluding transaction costs) and additional capital commitments to fund future construction and tenant improvements at IIP’s properties.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc. is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc. has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017. Additional information is available at www.innovativeindustrialproperties.com.

About Skymint

Founded in 2018, SKYMINT Brands (formerly known as Green Peak Innovations) is Michigan’s leading vertically integrated cannabis company and the state’s largest medical and recreational license holder. Built upon a “Happy People, Happy Plants” philosophy, SKYMINT is dedicated to cultivating brands, elevating cannabis, and changing the world. Acclaimed for the beauty of its retail experience, SKYMINT grows, processes, markets, distributes, and brings to market a full range of cannabis brands, including North Cannabis™, Jolly Edibles™, Two Joints™, and SKYMINT X DNA GENETICS™ lines. SKYMINT Farms™ raises cannabis flower under the sun for those customers who appreciate the artisanal quality of seed-to-stash nurturing. SKYMINT Brands are perfect for daily wellness, healing, or just getting high on life. Additional information is available at www.skymintbrands.com.

Innovative Industrial Properties Forward-Looking Statements

This press release contains statements that IIP believes to be “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the acquisition and lease of the Michigan property, Skymint and the Michigan regulated cannabis market, are forward-looking statements. When used in this press release, words such as we “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe” or “should” or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. IIP disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

IIP Contact:

Catherine Hastings

Chief Financial Officer

Innovative Industrial Properties, Inc.

(858) 997-3332

KEYWORDS: California Michigan United States North America

INDUSTRY KEYWORDS: Search Engine Optimization Search Engine Marketing Other Natural Resources Other Construction & Property Agriculture Natural Resources Commercial Building & Real Estate Construction & Property Public Relations/Investor Relations Communications Alternative Medicine REIT Health

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Lippert Components Subsidiary Completes Acquisition of Ranch Hand

Lippert Components Subsidiary Completes Acquisition of Ranch Hand

ELKHART, Ind.–(BUSINESS WIRE)–
LCI Industries (NYSE: LCII), which, through its wholly-owned subsidiary, Lippert Components, Inc. (“LippertTM“), supplies a broad array of highly engineered components for the leading original equipment manufacturers (“OEMs”) in the recreation and transportation product markets, and the related aftermarkets of those industries, today announced the acquisition of Kaspar Ranch Hand Equipment, LLC (“Ranch Hand®”), a South Texas based manufacturer of custom bumpers, grill guards, and steps for the automotive aftermarket. Prior to the sale, Ranch Hand was a subsidiary of the Kaspar Companies, a fifth-generation family-owned company headquartered in Shiner, Texas since 1898.

Founded in 1986, Ranch Hand pioneered the heavy-duty truck accessory market by being one of the first manufacturers that designed and engineered custom equipment specifically matched to the owners’ vehicles. “Protected from the unpredictable” is a motto that represents Ranch Hand’s products that not only enhance the look of the vehicle but also serve as highly engineered steel barriers that help protect that vehicle’s passengers in a head-on accident. Ranch Hand’s full line of custom fit bumpers and accessories accommodate OEM sensors without compromising the truck’s safety features, making it as functional at work as it is on the road.

“The CURT Group acquisition in 2019 began our official entry into the automotive accessory aftermarket, and with the Ranch Hand acquisition, we are further supporting our dedication to becoming a large player in this space,” said Jamie Schnur, Group President of Lippert’s Aftermarket business. “Ranch Hand’s brand presence in the space is well-respected. Its front bumpers are viewed by consumers as a premium accessory, in large part due to the added level of safety for the truck owner.”

Rock Lambert, President of CURT, commented, “We are extremely pleased to add Ranch Hand to our portfolio of premium brands. Ranch Hand is synonymous with front-end protection and has enjoyed a leadership position in the automotive accessory aftermarket industry for years. We believe that our design, manufacturing, and distribution expertise will help the brand to continue to expand its reach and pursue long-term success. We are very excited to add the Ranch Hand team to our existing group of outstanding team members.”

“We have worked hard to grow the Ranch Hand brand over the last 20 years and are glad that it is in the hands of a company with the success record of Lippert,” said Jason Kaspar, Chief Executive Officer of the Kaspar Companies. Continued Kaspar, “Ranch Hand products, as well as its culture, fits very nicely into Lippert’s portfolio of automotive products. The two companies’ core values are very much in sync, where their team members feel supported and are treated like family. In the end this was very important to us as we made this decision. We thank all the Ranch Hand team members for their hard work and dedication and rest assured they are in good hands with the family at Lippert.”

About LCI Industries

LCI Industries, through its wholly-owned subsidiary, Lippert, supplies, domestically and internationally, a broad array of highly engineered components for the leading OEMs in the recreation and transportation product markets, consisting primarily of recreational vehicles and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; boats; trains; manufactured homes; and modular housing. The Company also supplies engineered components to the related aftermarkets of these industries, primarily by selling to retail dealers, wholesale distributors, and service centers. Lippert’s products include steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; and other accessories. Additional information about Lippert and its products can be found at www.lci1.com.

Forward-Looking Statements

This press release contains certain “forward-looking statements” with respect to our financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of management, markets for the Company’s common stock, the impact of legal proceedings, and other matters. Statements in this press release that are not historical facts are “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and involve a number of risks and uncertainties.

Forward-looking statements, including, without limitation, those relating to our future business prospects, net sales, expenses and income (loss), capital expenditures, tax rate, cash flow, financial condition, liquidity, covenant compliance, retail and wholesale demand, integration of acquisitions, R&D investments, and industry trends, whenever they occur in this press release are necessarily estimates reflecting the best judgment of the Company’s senior management at the time such statements were made. There are a number of factors, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those described in the forward-looking statements. These factors include, in addition to other matters described in this press release, the impacts of COVID-19, or other future pandemics, on the global economy and on the Company’s customers, suppliers, employees, business and cash flows, pricing pressures due to domestic and foreign competition, costs and availability of, and tariffs on, raw materials (particularly steel and aluminum) and other components, seasonality and cyclicality in the industries to which we sell our products, availability of credit for financing the retail and wholesale purchase of products for which we sell our components, inventory levels of retail dealers and manufacturers, availability of transportation for products for which we sell our components, the financial condition of our customers, the financial condition of retail dealers of products for which we sell our components, retention and concentration of significant customers, the costs, pace of and successful integration of acquisitions and other growth initiatives, availability and costs of production facilities and labor, team member benefits, team member retention, realization and impact of expansion plans, efficiency improvements and cost reductions, the disruption of business resulting from natural disasters or other unforeseen events, the successful entry into new markets, the costs of compliance with environmental laws, laws of foreign jurisdictions in which we operate, other operational and financial risks related to conducting business internationally, and increased governmental regulation and oversight, information technology performance and security, the ability to protect intellectual property, warranty and product liability claims or product recalls, interest rates, oil and gasoline prices and availability, the impact of international, national and regional economic conditions and consumer confidence on the retail sale of products for which we sell our components, and other risks and uncertainties discussed more fully under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, and in the Company’s subsequent filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. The Company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.

Contact: Brian M. Hall, CFO

Phone: (574) 535-1125

E Mail: [email protected]

KEYWORDS: United States North America Indiana Texas

INDUSTRY KEYWORDS: Aftermarket Maritime Automotive Automotive Manufacturing Transport Manufacturing

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4D pharma Collaborates With Parkinson’s UK to Establish Patient Advisory Board

4D pharma Collaborates With Parkinson’s UK to Establish Patient Advisory Board

LEEDS, England–(BUSINESS WIRE)–
4D pharma plc (AIM: DDDD; NASDAQ: LBPS), a pharmaceutical company leading the development of Live Biotherapeutic products (LBPs) – a novel class of drug derived from the microbiome, today announces a collaboration with Parkinson’s UK, a non-profit organization focused on advancing the understanding of Parkinson’s disease and improving treatments, to establish a Patient Advisory Board.

The Patient Advisory Board (PAB) will be comprised of people living with Parkinson’s. Supported by Parkinson’s UK, the PAB will provide valuable patient-centric perspective to 4D pharma as it continues to advance novel Live Biotherapeutics into the clinic to treat neurodegenerative conditions such as Parkinson’s. The PAB will also focus on raising awareness of the issues people with Parkinson’s face with current treatment options.

“4D pharma selected to work with Parkinson’s UK to represent the patient community as the largest charitable funder of Parkinson’s research in Europe. The contributions of our Patient Advisory Board, with the support of Parkinson’s UK, will be vital to 4D pharma’s efforts to not only develop novel therapeutics for this devastating condition, but also promote a dialogue and partnership with the Parkinson’s patient community,” said Alex Stevenson, Chief Scientific Officer, 4D pharma. “Parkinson’s is the fastest growing neurological condition in the world. It is important that therapeutics in development address the issues of patients. By working with Parkinson’s UK and our Patient Advisory Board, 4D pharma is better able to engage Parkinson’s patients with our clinical programs as we work to bring the first Live Biotherapeutic for the treatment of this condition into the clinic.”

“145,000 people are currently living with Parkinson’s in the UK alone. There is a desperate need for new and better treatments. To develop these, it is vital to involve people affected by Parkinson’s at every stage of research — from setting priorities and making decisions about funding to designing trials,” said Natasha Ratcliffe, Research Involvement Manager at Parkinson’s UK. “We’re delighted to be working with innovative companies like 4D pharma that share these values with us and are bringing new approaches to developing transformational new treatments for Parkinson’s. The Patient Advisory Board will enable people affected by Parkinson’s to have input into the development of this novel treatment.”

Today’s announcement builds on 4D pharma’s previously announced partnership with the Michael J. Fox Foundation-sponsored Parkinson’s Progression Markers Initiative (PPMI), where 4D pharma will collaborate as an industry partner. Through this partnership 4D pharma representatives join the PPMI Partner Scientific Advisory Board closely involved in the design and execution of the landmark PPMI study, as well as additional PPMI Working Groups to discuss PPMI data and address Parkinson’s clinical trial challenges.

4D pharma continues to progress plans for a first-in-human clinical trial in Parkinson’s disease patients of its oral single strain Live Biotherapeutics.

About 4D pharma

4D pharma is a world leader in the development of Live Biotherapeutics, a novel and emerging class of drugs, defined by the FDA as biological products that contain a live organism, such as a bacterium, that is applicable to the prevention, treatment or cure of a disease. 4D has developed a proprietary platform, MicroRx®, that rationally identifies Live Biotherapeutics based on a deep understanding of function and mechanism.

4D pharma’s Live Biotherapeutic products (LBPs) are orally delivered single strains of bacteria that are naturally found in the healthy human gut. The Company has six clinical programmes, namely a Phase I/II study of MRx0518 in combination with KEYTRUDA (pembrolizumab) in solid tumours, a Phase I study of MRx0518 in a neoadjuvant setting for patients with solid tumours, a Phase I study of MRx0518 in patients with pancreatic cancer, a Phase I/II study of MRx-4DP0004 in asthma, a Phase II study of MRx-4DP0004 in patients hospitalised with COVID-19, and Blautix® in Irritable Bowel Syndrome (IBS) which has completed a successful Phase II trial. Preclinical-stage programmes include candidates for CNS disease such as Parkinson’s disease and other neurodegenerative conditions. The Company has a research collaboration with MSD, a tradename of Merck & Co., Inc., Kenilworth, NJ, USA, to discover and develop Live Biotherapeutics for vaccines.

For more information, refer to https://www.4dpharmaplc.com

About Parkinson’s and Parkinson’s UK

Parkinson’s is what happens when the brain cells that make dopamine start to die. There are more than 40 symptoms, from tremor and pain to anxiety. Some are treatable, but the drugs can have serious side effects. It gets worse over time and there’s no cure. Yet.

Parkinson’s is the fastest growing neurological condition in the world. Around 145,000 people in the UK have Parkinson’s.

For more facts and statistics, please click here.

Further information, advice and support is available on the Parkinson’s UK website, www.parkinsons.org.uk.

Forward-Looking Statements

This announcement contains “forward-looking statements.” All statements other than statements of historical fact contained in this announcement, including without limitation statements regarding 4D’s pharma’s plans for an in-human clinical trial in Parkinson’s patients and the contributions of the PAB, are forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that it anticipates.

All of the Company’s forward-looking statements involve known and unknown risks and uncertainties, some of which are significant or beyond its control, and assumptions that could cause actual results to differ materially from the Company’s historical experience and its present expectations or projections. The foregoing factors and the other risks and uncertainties that could cause actual results to differ materially include potential delays in its clinical studies, the failure of the PAB to provide meaningful insights into the development of treatments and those additional risks and uncertainties described the documents filed by the Company with the US Securities and Exchange Commission (“SEC”). The Company wishes to caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any of its forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.

4D pharma

Investor Relations: [email protected]

N+1 Singer – Nominated Adviser and Joint Broker +44 (0)20 7496 3000

Philip Davies / Iqra Amin / James Fischer (Corporate Finance)

Tom Salvesen (Corporate Broking)

Bryan Garnier & Co. Limited – Joint Broker +44 (0)20 7332 2500

Dominic Wilson / Phil Walker

Stern Investor Relations, Inc. +1-212-362-1200

Julie Seidel [email protected]

Image Box Communications +44 (0)20 8943 4685

Neil Hunter / Michelle Boxall

[email protected] / [email protected]

KEYWORDS: United Kingdom Europe

INDUSTRY KEYWORDS: Biotechnology Health Pharmaceutical Practice Management Clinical Trials

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Leading BioSciences Provides Update to Seneca Biopharma, Inc. Stockholders on Merger Closing Process Following Virtual Special Meeting on April 23, 2021 and Upcoming Milestones Following Planned Close of Merger

Video message details merger closing process following completion of the April 23 virtual Special Meeting as well as next planned milestones for the merged company to be renamed Palisade Bio

As of April 19, 2021, based on voting indications, Proposal 1 is expected to be approved at the Special Meeting completing the transaction.

CARLSBAD, Calif., April 19, 2021 (GLOBE NEWSWIRE) — Leading BioSciences, Inc. (“LBS”), a late-stage biopharma company advancing therapies for acute and chronic gastrointestinal complications, today released a video message from its CEO, Dr. Tom Hallam updating stockholders in Seneca Biopharma, Inc. (Nasdaq: SNCA) (“Seneca”) on what to expect in the days following a positive vote to approve Proposal #1, the reverse stock split (the “Reverse Split Proposal”). Seneca recently adjourned the virtual Special Meeting until April 23, 2021 at 11:00 a.m. ET.

The video also described upcoming potential milestones in three categories: public events, regulatory milestones, and clinical data readouts.

Public Events:

LBS anticipates participating in multiple investor events, including healthcare conferences held by investment banks and medical conferences to release more detailed clinical data. Further, LBS is organizing a Medical Leader Event Series that will be open to the public.

Regulatory Milestones:

LBS is preparing several discussions with the FDA and other global regulatory agencies regarding our programs that will form the basis for regulatory submissions for approvals around the world.

Clinical Milestones:

LBS anticipates announcing data from a Phase 2 GI surgery study designed to show both a shortened time to the return of bowel function and a reduction of postoperative intra-abdominal adhesions. LBS also is working on commencing studies for treating neonates with LB1148 to accelerate the return of bowel function.

Tom Hallam, Ph.D., Chief Executive Officer of Leading BioSciences said, “We are excited to be near the finish line in completing the reverse merger that will create Palisade Bio, a promising biotech company with a portfolio of product candidates, a strong new management team and great potential to create value for all stakeholders. We hope all shareholders take a few minutes to watch the video explaining what stockholders can look forward to in the days, weeks and months following the virtual Special Meeting vote taking place on April 23. Our goal is to hit the ground running with regular updates on clinical and regulatory milestones as well as public events to keep all stakeholders well-informed about the new company pipeline and assets.”

Links to access the video communications are provided here:

  • On April 19, 2021, LBS issued a video update to Seneca stockholders detailing the merger closing process following a positive vote for Proposal #1 at the virtual Special Meeting on April 23 which can be found on Vimeo and YouTube

Recently the management of Seneca and LBS have provided Stockholders with additional information regarding the proposed transaction.

  • Answers to frequent inquiries concerning the reverse stock split in a press release.
  • Highlights of the investment thesis for the proposed merger in a video message and press release
  • SNCA stockholders who need assistance in submitting their proxy or voting their shares should call Seneca’s proxy solicitor, Kingsdale Advisors toll-free at 1-855-682-2019 or collect at 1-416-867-2272 and one of their agents would be happy to help you vote over the phone.

About Leading BioSciences, Inc.

LBS is developing novel therapeutics designed to improve human health through therapeutic protection of the gastrointestinal (GI) mucosal barrier. LBS’s initial focus is combatting the interruption of GI function (ileus) following major surgery in order to reduce recovery times and shorten the duration of patient hospital stays. Additionally, LBS believes that its investigational therapies have the potential to prevent the formation of postoperative adhesions (reducing hospital re-admissions and additional surgeries), as well as to address the myriad health conditions and complications associated with chronic disruption of the GI mucosal barrier.

About Seneca Biopharma, Inc.

Seneca Biopharma, Inc., is a clinical-stage biopharmaceutical company developing novel treatments for diseases of high unmet medical need. On December 17, 2020, Seneca announced that it had entered into a definitive Merger Agreement with LBS, a privately held company focused on developing novel therapeutics to improve human health through therapeutic protection of the gastrointestinal mucosal barrier. Pursuant to the Merger Agreement, Seneca is seeking to sell off its rights to NSI-566. Upon completion of the merger, the company is expected to operate under the name Palisade Bio, Inc., and trade on the Nasdaq Capital Market under the ticker symbol PALI.

No Offer or Solicitation

This communication will not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities in connection with the proposed merger shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Important Additional Information Will be Filed with the SEC

In connection with the proposed transactions between LBS and Seneca, Seneca filed a registration statement on Form S-4 that contained a proxy statement and prospectus with the Securities Exchange Commission (“SEC”) on December 23, 2020. The registration statement was declared effective on February 11, 2021 and the proxy statement was mailed to the Seneca stockholders on or about February 12, 2021. This communication is not a substitute for the registration statement or the proxy statement or any other documents that Seneca may file with the SEC or send to its stockholders in connection with the proposed transactions. BEFORE MAKING ANY VOTING DECISION, SENECA URGES INVESTORS AND STOCKHOLDERS TO READ THESE MATERIALS, THE REGISTRATION STATEMENT, PROXY STATEMENT, AND PROSPECTUS, AS MAY BE AMENDED, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT SENECA, THE PROPOSED TRANSACTION AND RELATED MATTERS.

You may obtain free copies of the registration statement, proxy statement and all other documents filed or that will be filed with the SEC regarding the proposed transaction at the website maintained by the SEC at www.sec.gov. The registration statement and proxy statement are available free of charge on Seneca’s website at www.senecabio.com, by contacting Seneca’s Investor Relations by phone at (301) 366-4960, or by electronic mail at [email protected]. Investors and stockholders are urged to read the registration statement, proxy statement, prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transaction.

Participants in the Solicitation

Seneca and LBS, and each of their respective directors and executive officers and certain of their other members of management and employees, may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information about Seneca’s directors and executive officers is included in Seneca’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 22, 2021, the registration statement, proxy statement, and prospectus filed with the SEC on February 9, 2021. These documents can be obtained free of charge from the sources indicated above.

Cautionary Statement Regarding Forward Looking Information:

This news release contains “forward-looking statements” made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to future, not past, events and may often be identified by words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Specific risks and uncertainties that could cause our actual results to differ materially from those expressed in our forward-looking statements include risks inherent in the development and commercialization of potential products, uncertainty of clinical trial results or regulatory approvals or clearances, need for future capital, dependence upon collaborators and maintenance of our intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in Seneca’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 22, 2021, the registration statement, proxy statement, and prospectus filed with the SEC on February 9, 2021. Except as required by applicable law, we do not assume any obligation to update any forward-looking statements.