Market Newsdesk

Highlights:

• At Beta Hunt, drilling aimed to test for the offset extension of the historic Beta nickel belt south of the Gamma Island Fault has confirmed the presence of massive and matrix nickel sulphide mineralization along the prospective ultramafic/basalt contact.
• Significant nickel intersections¹ include:
• G50-22-005E: 11.6% Ni over 4.6 metres, including 18.4% Ni over 2.2 metres
• G50-22-002E: 1.2% Ni over 0.3 metres
• G50-22-003E: 2.4% Ni over 1.8 metres
• The new nickel zone – named “50C” has the potential to represent a repeat of the historic Beta Zone which to date has produced in excess of 32,000 tonnes of nickel metal (Nits). The 50C Nickel Trough is located 140 metres from existing development and remains open to the south.
• Drilling also intersected gold mineralization above and below the 50C trough and suggests the Beta Hunt gold mineralized system extends for over 3.5 kilometres of strike from the northern end of the A Zone.
• Significant gold intersections^1. include:
• G50-22-002E: 2.7g/t Au over 12.0 meters, including 10.1g/t Au over 1.4 metres
• G50-22-005E: 5.2 g/t Au over 3.2 metres
• G50-22-004E: 2.8g/t Au over 11.5 metres, including 10.5 g/t Au over 0.5 metres

TORONTO, April 6, 2021 /CNW/ – Karora Resources Inc. (TSX: KRR) (“Karora” or the “Corporation”) is pleased to announce a new high grade nickel discovery at the Beta Hunt Mine – the 50C Nickel Trough. The 50C discovery, located south of the Gamma Island Fault, is the second new nickel discovery at Beta Hunt in the last six months and is further evidence of the upside potential for nickel as a by-product credit to Karora’s growing gold production profile. In addition, new gold drilling intersections have extended the known gold mineralized system at Beta Hunt to over 3.5 kilometres along strike.

Paul Huet, Chairman and CEO of Karora said, “I am very excited with the latest set of drill results from Beta Hunt, which continue to return outstanding intersections and now a second new nickel discovery, all within close proximity to existing mine development. The discovery of a new nickel zone south of the Gamma Island Fault is a major breakthrough in understanding the potential extent of nickel mineralization at Beta Hunt and represents a significant, emerging nickel opportunity for Karora. While we are focused on gold production as our core strategy, the potential by-product credits from these nickel grades, as high as 18%, are undoubtedly substantial.

As with the 30C nickel discovery announced in September 2020, the 50C discovery is within close proximity to existing mine development, reflecting the enormous advantage we have at Beta Hunt with over 400 kilometres of existing underground development already in place due to historic nickel mining operations in the highly competent basalt unit since the 1970s. This existing development not only provides for potential near term mining access once ventilation upgrades are completed, but also tremendous underground drilling locations from which to target further resource additions. The extensive infrastructure in place reduces our waste capital development requirements and increases the profitability of the operation. Further drilling targeting nickel growth at Beta Hunt is planned for the second half of the year and we look forward to additional updates as assays come in from the heavily stretched assay labs in Western Australia.

While our drilling in the 50C discovery area was aimed at nickel targets, our efforts also returned some meaningful gold assays including 5.2 g/t over 3.2 metres in hole G50-22-005E. These gold results demonstrate yet another potential area to add to the growing gold resource at Beta Hunt in the near term and have extended the strike extent of Beta Hunt gold mineralization to 3.5 kilometres from 3.1 kilometres previously.”

New Nickel Discovery – Gamma Zone 50C

Nickel
Late last year Karora completed a five hole, 1,381 metre underground diamond drill program aimed to test for an offset continuation of the western Beta nickel belt at the very southern end of the Beta Hunt mine. The offsetting structure is known as the Gamma Island Fault and is interpreted to up-throw the southern block up to 200 metres. The drill program as designed was the result of a recent assessment and geological review of the area by Karora’s exploration team and was co-funded by the Western Australian Government as part of its co-funded Exploration Incentive Scheme (EIS).

The targeted basalt/ultramafic contact was intersected in four of the five holes with nickel mineralization intersected in three holes – G50-22-005E, G50-22-003E and G50-22-002 in the targeted nickel contact position. Two holes, G50-22-005E and G50-22-003E encountered strong nickel mineralization logged as massive and disseminated nickel sulphide, with hole G50-22-005E intersecting 2.2 metres (downhole) of massive nickel sulphide. Assay results^1.support the visual observation of high tenor mineralization in this hole:

• G50-22-005E: 11.6% nickel over 4.6 meters, including 18.4% Ni over 2.2 meters
• G50-22-002E: 1.2% Ni over 0.3 meters
• G50-22-003E: 2.4% Ni over 1.8 meters

These results are 140 metres from existing mine development and reinforce the potential for a repeat of the Beta style mineralization south of the Gamma Island Fault, potentially representing a significant growth opportunity for by-product nickel production at Beta Hunt. Current Beta Hunt Measured and Indicated Resources total 561 kt @ 2.9% Ni for 16,100 contained nickel tonnes (see Karora’s Technical Report dated February 1, 2021 available under Karora’s profile on Sedar.com).

Beta Hunt Nickel Mineral Resources

A downhole electromagnetic (EM) survey using the recently completed holes is planned for the third quarter to assist in the targeting of nickel troughs in this area. Results will be interpreted and used for follow-up drilling planned later this year.

Gold

The five drill holes designed to test for nickel mineralization also returned encouraging gold intersections south of the Gamma Island Fault, occurring both in the underlying footwall basalt (same environment that hosts both the A Zone and Western Flanks Mineral Resources), and the overlying ultramafic. The association of gold mineralization with the ultramafic is not typical of the Beta Hunt gold mineralized system and requires further study to understand the significance of this observation.

The confirmation of gold mineralization south of the Gamma Island Fault extends the Beta Hunt gold system over a 3.5 kilometre strike length from the northern end of A zone and indicates potential for the continued growth of the existing gold Mineral Resource. Significant gold intersections^1.include:

• G50-22-002E: 2.7g/t over 12.0 meters, including 10.1g/t over 1.4 meters
• G50-22-005E: 5.2 g/t over 3.2 meters
• G50-22-004E: 2.8g/t over 11.5 meters, including 10.5 g/t over 0.5 meters
• G50-22-003E: 4.2g/t over 2.0 meters

Compliance Statement (JORC 2012 and NI 43-101)

The disclosure of scientific and technical information contained in this news release has been reviewed and approved by Stephen Devlin, FAusIMM, Group Geologist, Karora Resources Inc., a Qualified Person for the purposes of NI 43-101.

At Beta Hunt all drill core sampling is conducted by Karora personnel. Samples for gold analysis are shipped to SGS Mineral Services of Kalgoorlie for preparation and assaying by 50 gram fire assay analytical method. All gold diamond drilling samples submitted for assay include at least one blank and one Certified Reference Material (“CRM”) per batch, plus one CRM or blank every 20 samples. In samples with observed visible gold mineralization, a coarse blank is inserted after the visible gold mineralization to serve as both a coarse flush to prevent contamination of subsequent samples and a test for gold smearing from one sample to the next which may have resulted from inadequate cleaning of the crusher and pulveriser. The lab is also required to undertake a minimum of 1 in 20 wet screens on pulverised samples to ensure a minimum 90% passing at -75µm. Samples for nickel analysis are shipped to SGS Australia Mineral Services of Kalgoorlie for preparation. Pulps are then shipped to Perth for assaying. The analytical technique is ICP41Q, a four acid digest ICP-AES package. Assays recorded above the upper detection limit (25,000ppm Ni) are re-analyzed using the same technique with a greater dilution (ICP43B). All samples submitted for nickel assay include at least one Certified Reference Material (CRM) per batch, with a minimum of one CRM per 20 samples. Where problems have been identified in QAQC checks, Karora personnel and the SGS laboratory staff have actively pursued and corrected the issues as standard procedure.

About Karora Resources 

Karora is focused on growing gold production and reducing costs at its integrated Beta Hunt Gold Mine and Higginsville Gold Operations (“HGO”) in Western Australia. The Higginsville treatment facility is a low-cost 1.4 Mtpa processing plant which is fed at capacity from Karora’s underground Beta Hunt mine and open pit Higginsville mine. At Beta Hunt, a robust gold Mineral Resource and Reserve is hosted in multiple gold shears, with gold intersections along a 4 km strike length remaining open in multiple directions. HGO has a substantial Mineral gold Resource and Reserve and prospective land package totaling approximately 1,800 square kilometers. The Company also owns the high grade Spargos Reward project which is anticipated to begin mining in 2021. Karora has a strong Board and management team focused on delivering shareholder value. Karora’s common shares trade on the TSX under the symbol KRR. Karora shares also trade on the OTCQX market under the symbol KRRGF.

Cautionary Statement Concerning Forward-Looking Statements

This news release contains “forward-looking information” including without limitation statements relating to the new high grade nickel discovery at the Beta Hunt Mine – the 50C Nickel Trough, the extension of the Beta Hunt gold mineralized system and the potential of the Beta Hunt Mine, Higginsville Gold Operation, the Aquarius Project and the Spargos Gold Project.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Karora to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Karora ‘s filings with Canadian securities regulators, including the most recent Annual Information Form, available on SEDAR at www.sedar.com.

Although Karora has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and Karora disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Cautionary Statement Regarding the Higginsville Mining Operations

A production decision at the Higginsville gold operations was made by previous operators of the mine, prior to the completion of the acquisition of the Higginsville gold operations by Karora and Karora made a decision to continue production subsequent to the acquisition. This decision by Karora to continue production and, to the knowledge of Karora, the prior production decision were not based on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, which include increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse impact on the Corporation’s cash flow and future profitability. Readers are cautioned that there is increased uncertainty and higher risk of economic and technical failure associated with such production decisions.

Table 1(a): Beta Hunt – Gamma Zone-March 2020 – Significant Intersections – Nickel¹

Table 1(b): Beta Hunt – Gamma Zone March 2020 – Significant Intersections – Gold¹

Table 2: Beta Hunt – Gamma Zone March 2020 – Drill holes completed in December 2020

 

SOURCE Karora Resources Inc.

Pivotree customers can now leverage machine learning image recognition for rapid autoclassification and enrichment of product data

TORONTO, April 6, 2021 /PRNewswire/ – Pivotree Inc. (TSXV: PVT) (“Pivotree” or the “Company“), a leader in frictionless commerce solutions, today announced it has launched an Image Recognition solution as part of its DIVE Machine Learning platform.

Since DIVE’s release in 2019, Pivotree has paired machine learning with master data management (MDM) and product information management (PIM) to automate time-consuming and unreliable manual data processes. With the launch of its Image Recognition capabilities, the DIVE Platform can now use image information and context, to augment the text based inferences that DIVE could provide for autoclassification, normalization, prediction, and other data quality and enrichment functions. The new DIVE Image Recognition features also support the ability to search for similar and related products, based on an image.

“Often, retailers and distributors struggle with obtaining go-to-market information from product suppliers. The process is time-consuming, and they don’t always get the level of quality or completeness they need,” said Peter Lui-Hing, Chief Innovation Officer, Pivotree. “By innovating to bring image recognition to our machine learning solution, we can help our clients save time and slash costs associated with onboarding new products and growing product assortment, even to the level of endless aisle.”

For many companies, the process of collecting and standardizing product data from multiple sources takes days or even months to complete, often involving outsourcing. With DIVE, retailers and distributors can complete the same task in a fraction of the time, and with the addition of Image Recognition – with increased consistency and reliability. This is a particular benefit for enterprises who have deployed PIM or MDM, yet still struggle with process issues that limit their return on investment (ROI).

“While PIM makes a significant impact on storing and moving data, the tool doesn’t necessarily solve the process challenge of gathering the necessary product content,” added Lui-Hing. “Now, DIVE with Image Recognition can sit right on top of a company’s PIM platform, unlocking the ability to get rapid, reliable product details out to the market. The supplier provides whatever data they have AND an image, and we do the rest.”

As more commerce shifts online, companies selling through omnichannel place greater importance on improving product searchability with accurate, complete data. Having the capability to use images to extract context and detail to enrich and verify product information helps companies focus on the customer experience while making internal procedures more efficient.

“At Pivotree we are uniquely positioned to deliver value added applications and microservices that address the challenges found in complex enterprise commerce environments. This new solution helps eliminate friction across the board — for the retailer, distributor, supplier, and customer,” said Mike Leibovitz, Vice President of Product Management, Pivotree. “By extracting and providing such rich content from a single image, it alleviates friction across the value chain, helping you shift your time and focus from ‘tasks’ to value-added activities. Ultimately, that allows you to deliver a more frictionless, exceptional experience on the front end to your customers.”

About Pivotree

Pivotree is a leading global commerce and MDM services provider. It is an end-to-end vendor supporting clients from strategy, platform selection, deployment, and hosting through to ongoing support. It operates as a single expert resource to help companies adapt relentlessly in an ever-changing digital commerce landscape. Leading and innovative clients rely on Pivotree’s deep expertise to choose enterprise-proven solutions and design, build, and connect critical systems to run smoothly at defining moments in a commerce business. Pivotree serves as a trusted partner to over 170 market-leading brands and forward-thinking B2C and B2B companies, including many companies in the Fortune 1000. With offices and customers in the Americas, EMEA, and APAC, Pivotree is widely recognized as a high-growth company and industry leader around the globe. For more information, visit http://www.pivotree.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Pivotree Inc.

• Gold Mineralized Tombstone Intrusive with Inferred Resource of 1,950,000 oz Gold
• Significant Exploration Potential on Approximately 22,000 Contiguous Acres
• Immediate Drill Ready with Class 3 Quartz Mining Land Use Permit
• Established Mining Infrastructure within the Historic Tintina Gold Belt

VANCOUVER, BC, April 6, 2021 /PRNewswire/ — St. James Gold Corp. (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3), the “Company” or “St. James Gold” is pleased to announce that it has entered into an Option and Joint Venture Agreement (the “Option and JV Agreement”) with Florin Resources Inc. (“Florin”), effective April 1, 2021 to acquire up to a 100% interest in the Florin Gold Project, covering approximately 22,000 contiguous acres (the “Property”) in the historic Tintina Gold Belt in the Yukon Territory, Canada.

The Florin Gold Project contains a 2012 Inferred Resource of 127,236,000 tonnes grading 0.48 g/t gold, approximately 1.95 million ounces of contained gold, with a cut-off grade of 0.3 g/t gold. This resource is contained in a technical report prepared for Florin in accordance with National Instrument 43-101and authored by Brian Cole (2012) (the “Technical Report”).

The project lies within  a belt where several major intrusive related gold deposits have been delineated and produced over the past few decades, including Kinross’ Fort Knox (3.37m. oz reserve in 282 million t. @0.37 g/t, plus past production of 7.5 m.oz: J.Sims 2017 NI 43-101 Report), and Victoria Gold’s Eagle deposits, (3.26 m.oz P&P reserve in 155 million [email protected]/t gold, plus M&I resource of 3.6 m.oz in 180mt @0.63g/t gold:Victoria Gold website).

The Property consists of contiguous mineral claims straddling the Mayo and Dawson Mining District boundaries and is located approximately 55 km northwest of the town of Mayo and 130 km east-southeast of Dawson City. The Property is accessible via a network of roads from the Klondike Highway and is close to power infrastructure via the Mayo Hydro Dam and Victoria Gold’s operations.

The Property comprises an extensive gold-mineralized Tombstone intrusive rock complex.  While past exploration has established the potential for extensive tonnages of material and remains open in all directions, both laterally and extending to depth from surface, the Property has seen very limited exploration since 2011. In 2016, the Property underwent several additional soil geochemical surveys blanketing a large portion of the Property on trend over a strike length of 5 km. These activities were successful in further expanding and defining drill target gold anomalies, resulting in the consolidation and expansion to approximately 22,000 acres.

The Property represents a dome rising 500 metres above the surrounding valley elevation of 1,000 meters. Geological, geophysical and geochemical data together with 16,572 meters of drilling, predominantly in 2010 and 2011, suggest that much of the Property is prospective for gold mineralization. The 1.95 million oz Au inferred resource estimate is located within a large prospective intrusive host rock that through geophysical interpretation may potentially exceed 5 cubic kilometers.  This volume of prospective rock measuring 3.5 by 2 kilometers in surface extent and extending to at least 500 metres in depth has been projected from the geological, geophysical and geochemical data framework. A large airborne magnetic signature under the claims also suggests a larger, intrusive body at depth, possibly extending to over 1,000 meters, thus suggesting a gold potential comparable in geological setting to the Tombstone porphyry suite deposits found elsewhere in the district.

An updated technical report will be available to St. James on completion of an update by Ron Simpson of GeoSim Services Inc.

As stated by George Drazenovic, CEO of St. James Gold Corp., “We are delighted to enter into an agreement for what we believe to be one of the largest undeveloped pure gold resource projects in the Yukon.  We will begin the review and compilation of all available data immediately and look to design an active exploration program.  The inferred resource remains open in all directions and at depth, and there are several large untested zones in the vicinity.  While the inferred resource represents a modest portion of the entire land package, the existing data suggests that gold mineralization remains open in virtually all directions.”

Reinterpretation is under way of available geological, geochemical and geophysical data preparatory to an early drill program.  No additional drilling has been conducted since the 2012 report.

The Florin Gold Project is Drill Ready

Florin, as operator for the Property, holds a Class 3 Quartz Mining Land Use Permit, allowing for an immediate drilling program this summer. A joint technical committee comprised of representatives from Florin and St. James Gold will be formed to put in place a work exploration roadmap. Since the Property hosts an intrusion-related gold deposit, deeper drilling is warranted as higher-grade intercepts from drilling lie at hole depths of up to 500 m. The current depth cutoff for the inferred resource was limited at 300 m depth from surface.  The focus for the drilling exploration program will be on both lateral expansion and step out drilling from the inferred resource, as well as testing for potentially higher-grade areas, particularly at depth and within other target areas with significant geochem expression at the surface.

Terms of Deal Structure

The Option and JV Agreement provides for the acquisition of an initial undivided 49% interest in the Property by paying Florin in the aggregate an amount of $8,400,000 in cash payments, 4,200,000 common shares of the company and by incurring in the aggregate exploration expenditures of $20,000,000 over a 4-year period.  Pursuant to the terms of the Option and JV Agreement, the cash payments and share issuances contemplated in the first and second year of the term of the Option and JV Agreement ($4,100,000 in cash and 2,200,000 common shares) are firm commitments and are not optional payments once the TSX Venture Exchange (“TSX-V”) approval has been issued.  St. James is under a best efforts obligation to promptly seek TSX-V approval.

Upon completion of these payments, the Company has the option to acquire an additional undivided 36% interest in the Property by producing a Bankable Feasibility Study within 3 years of the exercise of the original 49% option.  The Company also has the option to acquire the remaining 15% interest in the Property by paying Florin $50,000,000 within 2 years of exercising the 2^nd Option.

The total cash and share consideration is estimated to be $105,000,000 calculating the value as of the close of the TSX-V on March 31, 2021.

Additionally, the Company has agreed to issue Florin an additional 2,000,000 shares of the Company upon the completion of a Technical Report prepared in accordance with NI 43-101 standards identifying at least a 10,000,000 oz Au or Au equivalent in any mineral resource category and an additional 2,000,000 shares of the Company if it identifies a 20,000,000 oz Au or Au equivalent mineral resource. 

Dr. Stewart Jackson, P Geo, senior technical adviser geologist, a Qualified Person within the meaning of National Instrument 43-101 (Standards of Disclosure for Minerals Projects), has reviewed and approved the technical and scientific information presented herein as accurate and approved this news release.

Florin and St. James are arm’s length parties. Closing is subject to TSX-V approval.

About St James Gold Corp. 

St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange under the ticker “LORD”, in the U.S. Market listed on OTCQB under “LRDJF” and on Frankfurt Stock Exchange under “BVU3”. The company is focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring prospective exploration projects with well delineated geological theories, integrating all available geological, geochemical and geophysical datasets, and funding efficient exploration programs.  The Company currently holds both an option to acquire a 100% interest in 29 claims covering 1,791 acres in the Gander gold district in north-central Newfoundland adjacent to New Found Gold Corp.’s Queensway North project, and an option to acquire a 100% interest in 28 claims covering 1,730 acres in central Newfoundland adjacent to Marathon Gold’s Valentine Lake property. For more corporate information please visit: http://stjamesgold.com/

George Drazenovic, CPA, CGA, MBA, CFA

Forward Looking Statements

The foregoing includes forward looking statements which by their nature are subject to risks and uncertainties. In particular there is no assurance that the Company will be successful in its search for high value gold assets in North America. The Company’s ability to acquire such assets is subject to supply and demand in the market for such assets and the financial ability of the Company to acquire such assets or obtain financing needed to acquire such assets if identified none of which is certain or can be guaranteed.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

St. James Gold Corp.
For further information, please contact:
George Drazenovic
Chief Executive Officer
Tel: 1 (800) 278-2152
Email: [email protected]

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SOURCE St. James Gold Corp.

BOSTON, April 6, 2021 /PRNewswire/ — Stealth BioTherapeutics Corp (Nasdaq: MITO), a clinical-stage biotechnology company focused on the discovery, development, and commercialization of novel therapies for diseases involving mitochondrial dysfunction, today reported financial results for the year ended December 31, 2020 and announced recent business highlights.

“As we look forward to data from our fully-enrolled Phase 2 program in dry age-related macular degeneration during the first half of 2022, we are poised to progress our planned clinical expansion into rare metabolic cardiomyopathies and neurological diseases, with multiple trial initiations expected this year,” said Reenie McCarthy, Chief Executive Officer at Stealth. “Our recent and ongoing discussions with FDA may result in a delay in our Barth NDA submission, but helped identify options to generate additional data we believe may support a filing within a reasonable time-frame.  We appreciate the strong engagement by senior Division and Office level FDA personnel, and we believe that our learnings from this program will help inform our approach to larger rare cardiomyopathic disease indications.”

Fourth Quarter 2020 and Recent Highlights

• Barth syndrome. In January 2021, the Company announced that it had met with the Division of Cardiology and Nephrology (DCN) to discuss its Barth development program and planned submission of its New Drug Application (NDA) for the treatment of cardiomyopathy in Barth syndrome. In late February 2021 and in early April 2021, the Company met again with DCN to discuss both matters. FDA expressed its view that the existing clinical data are insufficient to demonstrate substantial evidence of effectiveness and do not support NDA review, and suggested potential paths forward to generate additional data, including by a randomized withdrawal of therapy from patients in the Company’s ongoing open label extension trial and from additional potential patients the Company could enroll.  The Company has not yet received a record of this meeting.  The Company is evaluating the proposed withdrawal protocol among other potential next steps.
• In late 2020, the Barth Syndrome Foundation, which is the global advocacy group representing Barth patients, announced its petition requesting the Company to submit and the FDA to review an NDA for elamipretide for the treatment of Barth. On March 3, 2021, the Barth Syndrome Foundation announced that DCN and other FDA representatives attended a March 3 listening session requested by members of the Barth syndrome community. The listening session was a first-of-its-kind engagement in which the FDA sought to understand the level of uncertainty Barth patients would accept regarding the effectiveness of new therapies, which is a type of flexibility FDA’s December 2019Guidance for Industry: Demonstrating Substantial Evidence of Effectiveness recommends the FDA consider in rare disease settings.
• Geographic atrophy. In February 2021, the Company announced that it had completed enrollment of 176 patients in its ReCLAIM-2 Phase 2b clinical trial in patients with geographic atrophy. This milestone triggered the payment of an additional $10 million of development funding to the Company under the Development Funding Agreement announced in November 2020. Design and preliminary baseline demographics for the ReCLAIM-2 trial were presented at Angiogenesis, Exudation, and Degeneration 2021 in February 2021.
• SBT-272. As previously reported, data presented at the 2020 Annual NEALS Meeting demonstrated that SBT-272 improved neurite length and branching in mutant TDP43 primary upper motor neurons. TDP43 pathology, which is believed to play a role in neuronal cell death, has been observed in multiple neurodegenerative diseases, including Amyotrophic Lateral Sclerosis, Frontotemporal Lobar Degeneration, Lewy Body Dementia, Progressive Supranuclear Palsy, and Alzheimer’s Disease. The Company is conducting toxicology studies to support a potential Phase 2a clinical study in patients with neurological disease in 2022.
• Development Funding Agreement. In November 2020, the Company announced the first closing under a Development Funding Agreement to support the clinical development of elamipretide. To date, the Company has received $30 million and is eligible to receive an additional $5 million on submission of an NDA for the treatment of cardiomyopathy in Barth syndrome.
• Registered Direct Offerings. In November 2020, the Company received gross proceeds of $3.2M from the registered direct offering of 2,844,446 ADSs. In February 2021, the Company received gross proceeds of $4.7 million from the registered direct offering of 2,339,000 ADSs.

Key Upcoming Milestones

• Geographic atrophy: Data expected in Q2 2022.
• Expansion of cardiomyopathy franchise: A Phase 2a investigator-initiated open-label clinical trial assessing elamipretide in a cohort of patients affected by visual decline and/or cardiomyopathy associated with Friedreich’s ataxia is expected to commence during Q2 2021. The Company anticipates that data from this trial will help inform pivotal trial design. A meeting with the FDA to discuss protocol design for a trial to evaluate elamipretide in patients with cardiomyopathy associated with Duchenne muscular dystrophy is expected during Q3 2021.
• Initiation of Phase 3 clinical trial in rare mitochondrial diseases caused by nuclear DNA (nDNA) mutations: The Company plans to meet with the FDA during Q2 2021 prior to initiating a Phase 3 clinical trial in the prespecified subgroup of primary mitochondrial disease patients with nDNA mutations who appeared to respond to elamipretide therapy in the Company’s Phase 3 trial in primary mitochondrial myopathy.
• Expansion of neurology franchise: The Company is continuing its neurology pipeline expansion efforts with SBT-272 and a group of compounds from its SBT-550 series and expects to announce results of SBT-272 preclinical studies and initiation of SBT-550 pre-IND enabling studies during 2021.

Financial Results for the year ended December 31, 2020

Cash Position: Cash and cash equivalents were $32.8 million at December 31, 2020, compared to $50.8 million at December 31, 2019. In February 2021, the Company received $10.0 million under the Development Funding Agreement with Morningside Venture (I) Investments Ltd., as a result of the tranche 2 milestone event upon completing enrollment in its ReCLAIM-2 Phase 2 clinical trial of elamipretide for the treatment of dry AMD and gross proceeds of $4.7 million from a registered direct offering of its ADSs.

Revenue: We did not have any revenue in 2020 compared to $21.1 million of revenue in 2019. Revenue in 2019 represents non-refundable upfront payments under the Alexion Arrangement that were recognized in full in accordance with applicable accounting standards as we completed our performance obligation in 2019. Alexion terminated the Agreement in January 2020, and as such, no additional revenue will be recognized under the Alexion Arrangement.

Research and Development (R&D) Expenses: R&D expenses decreased by $15.3 million to $29.3 million for the year ended December 31, 2020, from $44.6 million for the year ended December 31, 2019. This decrease was primarily due to a net decrease of $8.7 million in employee and consultant related costs attributable to the strategic repositioning implemented in Q1 2020, a $3.2 million decrease in contract manufacturing, a $1.8 million net decrease in clinical costs primarily driven by the closeout of our Primary Mitochondrial Myopathy development efforts which ended in December 2019, a $1.4 million decrease in preclinical costs and a $0.2 million net decrease in regulatory costs.

General and Administrative (G&A) Expenses: G&A expenses decreased by $2.9 million to $19.4 million for the year ended December 31, 2020, from $22.3 million for the year ended December 31, 2019. The increase was primarily attributable to a decrease of $4.3 million in pre-commercial activities offset in part by a $1.4 million increase in professional services for various financing transactions and increased costs of insurance.

Other Expense: Other expense decreased by $17.1 million to $8.8 million for the year ended December 31, 2020 from $25.9 million for the year ended December 31, 2019.  Other expense in 2020 consisted of a $7.1 million non-cash expense due to the change in fair value of the derivative liability and $1.8 million in interest expense offset by $0.1 million in interest income.  Other expense in 2019 consisted of a $22.7 million loss on extinguishment of debt recorded in conjunction with the IPO, $6.7 million in interest expense mostly related to convertible debt and $0.3 million loss due to the change in fair value of the warrant liability offset in part by a $2.8 million gain from the fair value adjustment of the derivative liability associated with the convertible debt and $1.0 million in interest income.

Conference Call

Management will host a conference call today at 8:30 am ET to discuss the financial results and provide a general business update. The call can be accessed by dialing (877)-407-0989 (domestic) or (201)-389-0921 (international) and referencing conference ID 13717131. A live audio webcast of the event can be accessed by visiting the Investors & News section of Stealth’s Investor website, https://investor.stealthbt.com/. A replay of the webcast will be archived on Stealth’s website for 30 days following the event.

About Stealth

We are a clinical-stage biotechnology company focused on the discovery, development, and commercialization of novel therapies for diseases involving mitochondrial dysfunction. Mitochondria, found in nearly every cell in the body, are the body’s main source of energy production and are critical for normal organ function. Dysfunctional mitochondria characterize a number of rare genetic diseases and are involved in many common age-related diseases, typically involving organ systems with high energy demands such as the heart, the eye, and the brain. We believe our lead product candidate, elamipretide, has the potential to treat both rare metabolic cardiomyopathies, such as Barth, Duchenne muscular dystrophy and Friedreich’s ataxia, rare mitochondrial diseases entailing nuclear DNA mutations, as well as ophthalmic diseases entailing mitochondrial dysfunction, such as dry age-related macular degeneration and Leber’s hereditary optic neuropathy. We are evaluating our second-generation clinical-stage candidate, SBT-272, and our new series of small molecules, SBT-550, for rare neurological disease indications following promising preclinical data. We have optimized our discovery platform to identify novel mitochondria-targeted compounds which may be nominated as therapeutic product candidates or utilized as mitochondria-targeted vectors to deliver other compounds to mitochondria.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those regarding Stealth BioTherapeutics’ plans, strategies and expectations for its preclinical and clinical advancement of its drug development programs, including its ongoing clinical trials of elamipretide and planned clinical trial of SBT-272; its plans for a potential submission of an NDA; its expectations regarding regulatory interactions, including its evaluation of the possibility that existing data and the data from the withdrawal protocol may provide sufficient evidence to support NDA review; the potential benefits of Stealth BioTherapeutics’ product candidates; its key milestones for 2021 and 2022; and its plans regarding future data presentations. Statements that are not historical facts, including statements about Stealth BioTherapeutics’ beliefs, plans and expectations, are forward-looking statements. The words “anticipate,” “expect,” “hope,” “plan,” “potential,” “possible,” “will,” “believe,” “estimate,” “intend,” “may,” “predict,” “project,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Stealth BioTherapeutics may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements as a result of known and unknown risks, uncertainties and other important factors, including: Stealth BioTherapeutics’ ability to obtain additional funding and to continue as a going concern; the impact of the COVID-19 pandemic; the ability to successfully demonstrate the efficacy and safety of Stealth BioTherapeutics’ product candidates and future product candidates; the preclinical and clinical results for Stealth BioTherapeutics’ product candidates, which may not support further development and marketing approval; the potential advantages of Stealth BioTherapeutics’ product candidates; the content and timing of decisions made by the FDA, the EMA or other regulatory authorities, investigational review boards at clinical trial sites and publication review bodies, which may affect the initiation, timing and progress of preclinical studies and clinical trials of Stealth BioTherapeutics product candidates; Stealth BioTherapeutics’ ability to obtain and maintain requisite regulatory approvals and to enroll patients in its planned clinical trials; unplanned cash requirements and expenditures; competitive factors; Stealth BioTherapeutics’ ability to obtain, maintain and enforce patent and other intellectual property protection for any product candidates it is developing; and general economic and market conditions. These and other risks are described in greater detail under the caption “Risk Factors” included in the Stealth BioTherapeutics’ most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission (“SEC”), as well as in any future filings with the SEC.  Forward-looking statements represent management’s current expectations and are inherently uncertain. Except as required by law, Stealth BioTherapeutics does not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances.

Investor Relations
Stern Investor Relations
Janhavi Mohite, 212-362-1200
[email protected] 

 

 

 

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SOURCE Stealth BioTherapeutics Inc.

MOORESVILLE, N.C., April 6, 2021 /PRNewswire/ — Rick Ware Racing announced today its partnership with Biohaven’s Nurtec® ODT (rimegepant) and Nine Line Apparel to honor the nation’s fallen service members during the Memorial Day weekend Coca-Cola 600 at the Charlotte Motor Speedway. For the first time in NASCAR history, one NASCAR Cup Series team will represent the four branches of the military. Driving the Rick Ware Racing cars are #51 (Nurtec ODT) Air Force, Garret Smithley; #52 Army, Josh Bilicki; #53 Marines, JJ Yeley and #15 Navy, James Davison.

Nine Line Apparel will offer a commemorative t-shirt honoring the fallen service members. Through the purchase of each t-shirt, the buyer can submit the name of a fallen service member to run on the hood of the respective branch for which they served. A portion of the proceeds will be donated to 22 Until None, a non-profit dedicated to ending veteran suicide, one step at a time. More than 8,000 veterans a year commit suicide, which is 200% more likely to happen after active military service. 22 Until None helps to provide financial assistance, health and wellness, camaraderie and advocacy for the battle that continues once returning home.

“We are beyond grateful for the opportunity to honor our nation’s heroes in the Coca-Cola 600 at Charlotte Motor Speedway,” commented team owner Rick Ware. “Nurtec ODT and Nine Line Apparel are both huge advocates for our active-duty service members and veterans. Working together with both organizations to create this opportunity, is very special for Rick Ware Racing as well as all of the family members who have lost someone who has served this great country.”

Prior to the 2021 NASCAR Cup Series season, Rick Ware Racing and Biohaven’s Nurtec ODT joined together to create a Military Salutes program to support and thank active-duty service members. The Rick Ware Racing team and the #51 Nurtec ODT show car have currently visited 10 bases and plan to visit approximately 40+ more throughout the year. At each visit, service members can participate in mock pit stops, photos with the car and a driver meet-and-greet.

Vlad Coric, M.D., CEO of Biohaven said, “We are very proud to be a part of the Rick Ware Racing team and work with Nine Line Apparel on such a meaningful opportunity to honor fallen service members. Through the Military Salutes Program, we have been able to spend time with active-duty service members, veterans and their families and hear their migraine stories. We know that there are unique challenges faced by this population including a disproportionate impact of migraine and are grateful to have the opportunity to raise the level of discussion about this debilitating disease.”

“As a veteran owned, giveback organization, our brand was built on the foundation of honoring those heroes we’ve lost on the battlefield, and supporting those still struggling back home,” said Rich Caponi, Chief Marketing Officer of Nine Line. “We know that Rick Ware Racing and the Nurtec ODT team share this same passion, which is why we’re proud to partner with them on this initiative. Memorial Day Weekend in Charlotte will be a time to honor the heroes who have given their lives in service to this great country, while also raising awareness and support for veterans fighting internal battles on the home front.”

For additional information on Nurtec ODT, visit www.nurtec.com. Follow Rick Ware Racing, by visiting www.wareracing.com, and be sure to follow along on social media (Facebook, Twitter and/or Instagram). 

About Rick Ware Racing
With a rich and extensive history, Rick Ware Racing has been part of the racing fabric in the USA for over 30 years. The team has recently competed in both Prototypes and the NASCAR Cup Series. The team most recently claimed the 2020 Asian Le Mans Series Am Championship. For more information on Rick Ware Racing, visit www.wareracing.com. 

About Nine Line
Founded in 2012 by Army Captain and former Special Operations Air Mission Commander Tyler Merritt, Nine Line Apparel is a patriotic lifestyle brand based out of Savannah, Georgia. Nine Line is known for their patriotic designs, and as a give-back organization that supports our nation’s veterans and first responders through the Nine Line Foundation and other non-profit initiatives. To learn more, visit ninelineapparel.com.   

About Biohaven

Biohaven (NYSE: BHVN) is a commercial-stage biopharmaceutical company with a portfolio of innovative, best-in-class therapies to improve the lives of patients with debilitating neurological and neuropsychiatric diseases, including rare disorders. Biohaven’s neuroinnovation portfolio includes FDA-approved NURTEC® ODT (rimegepant) for the acute treatment of migraine and a broad pipeline of late-stage product candidates across three distinct mechanistic platforms: CGRP receptor antagonism for the acute and preventive treatment of migraine; glutamate modulation for obsessive-compulsive disorder, Alzheimer’s disease, and spinocerebellar ataxia; and MPO inhibition for multiple system atrophy and amyotrophic lateral sclerosis. More information about Biohaven is available at www.biohavenpharma.com.

About NURTEC ODT

NURTEC® ODT (rimegepant) is the first and only calcitonin gene-related peptide (CGRP) receptor antagonist available in a quick-dissolve ODT formulation that is approved by the U.S. Food and Drug Administration (FDA) for the acute treatment of migraine in adults. The activity of the neuropeptide CGRP is thought to play a causal role in migraine pathophysiology. NURTEC ODT is a CGRP receptor antagonist that works by reversibly blocking CGRP receptors, thereby inhibiting the biologic activity of the CGRP neuropeptide. The recommended dose of NURTEC ODT is 75 mg, taken as needed, up to once daily. For more information about NURTEC ODT, visit www.nurtec.com. 

Indication

NURTEC® ODT (rimegepant) is indicated for the acute treatment of migraine with or without aura in adults.

Limitations of Use

NURTEC ODT is not indicated for the preventive treatment of migraine.

Important Safety Information

Contraindications: Hypersensitivity to NURTEC ODT or any of its components.

Warnings and Precautions: If a serious hypersensitivity reaction occurs, discontinue NURTEC ODT and initiate appropriate therapy. Serious hypersensitivity reactions have included dyspnea and rash, and can occur days after administration.

Adverse Reactions: The most common adverse reaction was nausea (2% in patients who received NURTEC ODT compared to 0.4% in patients who received placebo). Hypersensitivity, including dyspnea and rash, occurred in less than 1% of patients treated with NURTEC ODT.

Drug Interactions: Avoid concomitant administration of NURTEC ODT with strong inhibitors of CYP3A4, strong or moderate inducers of CYP3A or inhibitors of P-gp or BCRP. Avoid another dose of NURTEC ODT within 48 hours when it is administered with moderate inhibitors of CYP3A4.

Use in Specific Populations:

Pregnant/breast feeding: It is not known if NURTEC ODT can harm an unborn baby or if it passes into breast milk.   
Hepatic impairment: Avoid use of NURTEC ODT in persons with severe hepatic impairment.   
Renal impairment: Avoid use in patients with end-stage renal disease.

Please click here for full Prescribing Information.

You are encouraged to report side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch or call 1-800-FDA-1088 or report side effects to Biohaven at 1-833-4Nurtec. 

Please click here for full Prescribing Information and Patient Information.

NURTEC is a trademark of Biohaven Pharmaceutical Ireland DAC

Biohaven Contact:
Vlad Coric, M.D.
Chief Executive Officer
[email protected]

Media Contact:
Mike Beyer
Sam Brown Inc.
[email protected]
312-961-2502

Rick Ware Racing Contact:
Kate Fegley
[email protected]

 

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SOURCE Biohaven Pharmaceutical Holding Company Ltd.

HOUSTON, April 6, 2021 /PRNewswire/ — Moleculin Biotech, Inc., (Nasdaq: MBRX) (Moleculin or the Company), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors and viruses, today announced the engagement of IQVIA Biotech, a contract research organization (CRO) to manage the Company’s effort to begin potential clinical trials of WP1122 for the treatment of COVID-19.

“Our teaming up with IQVIA, a preeminent, global CRO, is intended to facilitate the advancement into possible clinical trials for WP1122 with the objective of determining our drug’s potential for treating COVID-19,” commented Walter Klemp, Moleculin’s Chairman and CEO. “We continue to believe the best possible pathway for development may be outside the US, given the FDA’s requirement that we complete an analysis in a COVID-19 animal model before submitting a request for US investigational new drug (IND) status.  Unfortunately, validated COVID-19 animal models are in high demand, resulting in a long lead time before that can be done.  In the meantime, we believe all of the necessary preclinical safety testing has now been completed to qualify for the equivalent of an IND outside the US. Over the last quarter, we completed our pre-clinical data, interviewed CRO’s and decided that IQVIA Biotech has the experience and reach to best serve our clinical needs for this project. In addition, considering that the active ingredient in WP1122 is 2-deoxy-D-glucose (2-DG) and that 2-DG has now shown efficacy in a Phase 2 clinical trial conducted by an unrelated drug developer outside of the US, we believe that a sufficient efficacy rationale for WP1122 already exists to begin clinical trials.”

WP1122 is a prodrug of 2-DG, a well-known antimetabolite with the ability to inhibit glycolysis and alter glycosylation, two processes critical to coronaviruses like SARS-CoV-2, the virus responsible for COVID-19.  Although 2-DG has shown activity against SARS-CoV-2, other coronaviruses and other non-coronaviruses, we believe its therapeutic potential is limited by its inherent lack of drug-like properties.  WP1122 was designed to improve the drug-like characteristics of 2-DG, specifically, increasing circulation time and tissue and organ uptake and concentration (often referred to as improved “pharmacokinetics”).  Moleculin has sponsored multiple in vitro analyses showing activity of WP1122 against coronaviruses superior to that of 2-DG alone, as well as preclinical animal tumor models (WP1122 was originally developed as a potential cancer drug) showing the improved pharmacokinetics of WP1122.

For additional information on WP1122 and its potential to treat both viruses and cancers, please visit http://www.moleculin.com.

About Moleculin Biotech, Inc.

Moleculin Biotech, Inc. is a clinical stage pharmaceutical company focused on the development of a broad portfolio of oncology drug candidates for the treatment of highly resistant tumors and viruses. The Company’s clinical stage drugs are: Annamycin, a Next Generation Anthracycline, designed to avoid multidrug resistance mechanisms with little to no cardiotoxicity being studied for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML, WP1066, an Immune/Transcription Modulator capable of inhibiting p-STAT3 and other oncogenic transcription factors while also stimulating a natural immune response, targeting brain tumors, pancreatic cancer and hematologic malignancies, and WP1220, an analog to WP1066, for the topical treatment of cutaneous T-cell lymphoma. Moleculin is also engaged in preclinical development of additional drug candidates, including other Immune/Transcription Modulators, as well as WP1122 and related compounds capable of Metabolism/Glycosylation Inhibition.

For more information about the Company, please visit http://www.moleculin.com.

About IQVIA
IQVIA (NYSE:IQV) is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. IQVIA creates intelligent connections across all aspects of healthcare through its analytics, transformative technology, big data resources and extensive domain expertise. IQVIA Connected Intelligence™ delivers powerful insights with speed and agility — enabling customers to accelerate the clinical development and commercialization of innovative medical treatments that improve healthcare outcomes for patients. With approximately 70,000 employees, IQVIA conducts operations in more than 100 countries.

IQVIA is a global leader in protecting individual patient privacy. The company uses a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analysing information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes. IQVIA’s insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviour and scientific advances, in an effort to advance their path toward cures. To learn more, visit www.iqvia.com.

Forward-Looking Statements
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the ability of Moleculin to obtain approval for the foreign equivalent of an IND for WP1122 and the ability of WP1122 to show safety and efficacy in COVID-19 patients.  Although Moleculin believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Moleculin has attempted to identify forward-looking statements by terminology including ”believes,” ”estimates,” ”anticipates,” ”expects,” ”plans,” ”projects,” ”intends,” ”potential,” ”may,” ”could,” ”might,” ”will,” ”should,” ”approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under Item 1A. “Risk Factors” in our most recently filed Form 10-K filed with the Securities and Exchange Commission (“SEC”) and updated from time to time in our Form 10-Q filings and in our other public filings with the SEC.  Any forward-looking statements contained in this release speak only as of its date. We undertake no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Contact: James Salierno, [email protected]

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SOURCE Moleculin Biotech, Inc.

VANCOUVER, BC, April 6, 2021 /PRNewswire/ – TechX Technologies Inc. (“TechX” or “the Company”) (CSE: TECX) (OTC: TECXF) (FRA: C0B1), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies, is pleased to announce that its portfolio company, Catalyx Exchange (“Catalyx”) intends to list its Canadian stablecoin, CADX on the Bittrex Global Exchange. Bittrex is one of the world’s top 10 cryptocurrency exchanges in terms of liquidity and provides the widest selection of cryptocurrencies.

Catalyx.io, Canada’s premier cryptocurrency exchange with over 40+ altcoins available for purchase, launched its Canadian dollar fiat-backed stablecoin CADX in 2020 through a partnership with Seattle-based fintech company Stably. The CADX coin is expected to list on the Bittrex Exchange the week of May 10, 2021.

Every CADX token is fully-backed and redeemable for $1 Canadian dollar and is held in an audited account managed by Prime Trust, a Nevada-chartered trust company who is the official regulated trustee and CVC administrator for CADX. CADX is powered by Stably’s ERC20 smart contract technology, which has been audited by leading US-based blockchain security firm, QuantStamp.

“We are beyond excited to become the first Canadian dollar-backed stablecoin to be listed on one of the world’s top 10 crypto exchanges,” said Catalyx CEO Jae Park.  “The listing of the CADX coin on Bittrex is great news not only for the company, but for crypto traders across the globe who want more options to choose from.”

Catalyx and Bittrex first partnered in 2018 to launch the Catalyx Exchange and provide a solution for Canadian customers who wanted more selection for digital assets, but on a secure, reliable platform in Canada.

About TechX Technologies Inc.

TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) (FRA:C0B1) is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, TechX invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.

About Catalyx Exchange

Catalyx.io is a Canadian-based is a digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. As a fully regulated Cryptocurrency exchange with FINTRAC, Catalyx has the highest standards in security and compliance and is partnered with world-trusted names in Blockchain technologies, risk management and financial solutions to provide their users with a trusted, secure platform. Catalyx is the first Canadian exchange with its own stablecoin called CADX and supports 40+ cryptocurrencies. Catalyx is also the owner and operator of launched FastBitCash.ca, a leading platform that offers the fastest Bitcoin purchase and withdrawal in Canada.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.  When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information.  Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

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SOURCE TechX Technologies Inc.

CENTREVILLE, Va., April 6, 2021 /PRNewswire/ — QRC® Technologies, a Parsons Corporation (NYSE: PSN) subsidiary, is proud to launch the latest solution to unlock the digital battlespace for the U.S. Department of Defense and global allies. GreenFish™ is a small form factor spectrum awareness offering that exposes hidden insights from radio frequency (RF) spectrum observations through artificial intelligence (AI), machine learning, and digital signal processing techniques.

This technology enables the discovery of both known and unknown signals across the operational battlespace, increasing the force’s decision advantage. GreenFish uses machine learning to associate patterns in the electromagnetic spectrum allowing for user-defined signal tagging. The product supports online learning and knowledge-sharing capabilities between connected units, facilitating a system of sensors approach to combat operations.

“The moment GreenFish enters the battlespace, it commences fully autonomous detection and measurement of high-speed-high-pulse count signals providing full insights into the complete digital environment,” said Mark Coleman, vice president and general manager of QRC® Technologies. “GreenFish accelerates the warfighter’s decision-making processes and increases actionable intelligence and mission success by extracting data, pairing it with a swarm of graphics processing units, and using intelligent agents to assemble the fragments needed for rapid mission success.”

As the system learns how to detect new signals, the learned detection capabilities are quickly transferred between systems by minimal data transfer, ensuring consistent spectrum awareness across a larger area of combat operations. The artificial intelligence components extend the capabilities of the mission operator.

GreenFish provides a radio frequency layer to common operating pictures for web-sharable visualizations through open architecture and web-based communications standards. The solution includes AI-based signal processing, low size, weight, and power (SWaP) impact; transferable knowledge base; continuous spectrum sampling and learning; agile emitter detection; known and unknown signal discovery; alerts to specific signals or signatures; and a 3D spectrogram viewer.

A single GreenFish can function as a force protection, signals collection, and lightweight electronic warfare system based on configuration.

Learn more about Parsons innovative products that advance the warfighter’s missions by visiting: https://www.parsons.com/products/

About Parsons

Parsons (NYSE: PSN) is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit parsons.com, and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.

Media Contact:
Bryce McDevitt
+ 1 703.851.4425
[email protected] 

Investor Relations Contact:
Dave Spille
+ 1 571.655.8264
[email protected] 

 

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SOURCE Parsons Corporation