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3SBio Inc. received milestone payment of USD 4 million upon commencement of phase III clinical program of SEL-212

PR Newswire

SHENYANG, China, Nov. 23, 2020 /PRNewswire/ — Chinese leading biopharmaceutical company, 3SBio Inc.(01530.HK, the “Company”), announced today that Selecta Biosciences, Inc. (Nasdaq: SELB), the Company’s partner, has commenced the phase III clinical program of a combination therapy involving SEL-212 for the treatment of chronic refractory gout on behalf of SobiTM, and has made a milestone payment of USD 4 million to 3SBio Inc. The Phase III clinical program, known as DISSOLVE, dosed the first patient in September 2020. In 2014, Selecta was authorized by 3SBio Inc. to use pegsiticase, also known as pegadricase, (a recombinant enzyme that metabolizes uric acid) in the development of SEL-212, and it was agreed that 3SBio Inc. would receive milestone payment and royalties in the clinical and future commercialization stages of the product. SEL-212 consists of pegsiticase and ImmTOR® immune tolerance platform, which can durably control serum uric acid, reduce immunogenicity, and allow for repeated monthly dosing.

On 29 July 2020, Sobi and Selecta announced that the companies have entered into a strategic licensing agreement for Selecta’s product candidate, SEL-212. Under the agreement, Sobi is responsible for development, regulatory and commercial activities in all markets outside of Greater China(including Mainland China, Hong Kong, Macao and Taiwan), while Selecta will commence phase III research on behalf of Sobi.

Gout is an autoinflammatory disease, of which patients suffer from intensely painful flares and debilitating inflammatory arthritis due to pro-inflammatory monosodium urate (MSU) crystal deposition. High tissue MSU burden is always found in patients with chronic refractory gout, which can lead to frequent gout flares and chronic arthritis. Gout is the most common form of inflammatory arthritis in the United States.

SEL-212 has the potential to reduce serum uric acid and MSU deposits in patients with chronic refractory gout. Recombinant uricases are highly immunogenic in humans, and SEL-212, through Selecta’s proprietary ImmTOR platform, has the potential to mitigate the formation of anti-drug antibodies, thereby enabling convenient once-monthly dosing and improving the efficacy and tolerability of the uricase.

“We are greatly inspired by the new progress achieved in the clinical studies of SEL-212. 3SBio has long been focusing on therapeutic areas of major diseases such as auto-immune diseases and tumors, with an aim to develop biologics to address urgent needs. We look forward to advancing our cooperation with Selecta in the future to provide more treatment options for Chinese and global patients,” said Dr. Jing Lou, Chairman of 3SBio.

About 3SBio

3SBio is a fully-integrated biotechnology company in China with market-leading biopharmaceutical franchises in oncology, auto-immune diseases, nephrology, metabolic diseases and dermatology. 3SBio is focusing on building an innovative product pipeline, currently with over 30 product candidates underdevelopment, 22 of which are being developed as national new drugs in China. 3SBio’s manufacturing capabilities include recombinant proteins, monoclonal antibodies and chemically-synthesized molecules. 3SBio has research and production centers in Shenyang, Shanghai, Hangzhou, Shenzhen and Como, Italy. Please visit www.3sbio.com for additional information.

Cautionary Note and Forward-Looking Statements

This press release contains forward-looking statements, such as those relating to business or products outlook, or Company’s intent, plans, beliefs, expectation and strategies. These forward-looking statements are based on information currently available to the Company and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect or may not be realized in the future. With respect to any new product or new indication, we cannot guarantee that we will be able to successfully develop or eventually launch and market such product or indication. Underlying the forward-looking statements is a large number of risks and uncertainties. Further information regarding such risks and uncertainties may be found in our other public disclosure documents. The scientific information involved may only be preliminary and empirical. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

Cision View original content:http://www.prnewswire.com/news-releases/3sbio-inc-received-milestone-payment-of-usd-4-million-upon-commencement-of-phase-iii-clinical-program-of-sel-212-301178849.html

SOURCE 3SBio Inc.

Posted on

Avricore Health’s HealthTab™ Endorsed by Ontario Pharmacists Association for Real-Time COVID-19 Data Reporting in Community Pharmacies

Avricore Health and the OPA expand their partnership to promote HealthTab™ to pharmacies conducting COVID-19 testing and government for real-time reporting of test results for better community safety.

VANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) — Avricore Health Inc. (TSXV: AVCR) and the Ontario Pharmacists Association (OPA) are pleased to announce the expansion of their partnership agreement to endorse and promote the Company’s HealthTab™ as a real-time data reporting platform for COVID-19 tests in Ontario pharmacies, as well as government agencies. Avricore and the OPA originally announced their agreement on November 18, 2019.

Under this agreement the Company agrees to share revenues generated with the OPA for HealthTab™ contracts secured through OPA efforts.

“With community pharmacists anticipated to conduct more COVID-19 rapid tests, they are telling us they need to inform patients quickly, reduce workload and ensure that data is getting to reporting agencies seamlessly,” said Avricore Health’s CEO, Hector Bremner. “HealthTab™ automates these functions and ensures higher productivity and lower costs associated with this work.”

As a preeminent voice of the pharmacy profession in Ontario, the OPA seeks to advance the profession and drive better patient results:

“Today, community pharmacies in Ontario are collecting test samples for asymptomatic COVID-19 patients and we expect to be a critical partner with government to deploy rapid testing,” said OPA CEO, Justin Bates. “Community pharmacists are prepared to offer these solutions, and with the breakthrough of HealthTab’s fast and reliable data reporting, we feel that patients and the community will have the fastest access to the best information.”

Challenge

Point-of-care testing (POCT) presents a significant opportunity in affordably delivering accurate testing for COVID-19, and other community viral infections, in a scale which will ensure greater coverage of the population. However, as seen in several jurisdictions, the deployment of these technologies and tests has been undermined by gaps in the ability to quickly and reliably report and share test results. This is leading to inefficient expenditure of resources and reduced ability to respond to outbreaks quickly and accurately. 1

Recommendation

The OPA recommends the deployment of POCT and screening in the pharmacy setting utilizing the only real-time data reporting platform and software, HealthTab™. Given the Government of Canada’s approval and significant purchase of Abbott’s ID Now™ molecular testing device and the PanBio Rapid Antigen Tests, community pharmacy can be utilized to deploy these resources and effectively serve communities with rapid testing and real-time reporting.

About Avricore Health Inc.

Avricore Health Inc. is committed to becoming a health innovator and applying technologies at the forefront of science to core health issues at the community pharmacy level. The Company’s goal is to empower consumers, patients and pharmacists with innovative technology, products, services and information to monitor and optimize health. www.avricorehealth.com

About the OPA

The Ontario Pharmacists Association is committed to evolving the pharmacy profession and advocating for excellence in practice and patient care. With more than 10,000 members, OPA is Canada’s largest advocacy organization, professional development and drug information provider for pharmacy professionals across Ontario. By leveraging the unique expertise of pharmacy professionals, enabling them to practise to their fullest potential, and making them more accessible to patients, OPA is working to improve the efficiency and effectiveness of the healthcare system. The pharmacy sector plays a strong role in Ontario with an economic impact of more than $6.3 billion across 4,600 pharmacies, employing 60,000 Ontarians. https://www.opatoday.com

1
Reference:


Florida cuts ties with Quest Diagnostics after lab failed to report nearly 75K COVID-19 test results


https://www.wtsp.com/article/news/health/coronavirus/florida-cuts-ties-with-quest-diagnostics-after-lab-fails-to-report-thousands-of-test-results/67-6b7f2462-b8a5-40af-8652-38ca57152663


Excel spreadsheet error blamed for UK’s 16,000 missing coronavirus cases


https://www.theverge.com/2020/10/5/21502141/uk-missing-coronavirus-cases-excel-spreadsheet-error


Government of Canada signs agreement for COVID-19 rapid tests and analyzers:

https://www.canada.ca/en/public-services-procurement/news/2020/09/government-of-canada-signs-agreement-for-covid-19-rapid-tests-and-analyzers.html


Canada signs deal with Abbott for


Panbio


COVID-19 antigen tests


https://www.reuters.com/article/us-health-coronavirus-canada-testing-idUSKBN26R320

Cautionary Note Regarding Forward-Looking Statements

Information in this press release that involves Avricore Health’s expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Avricore Health generally uses words such as “outlook,” “will,” “could,” “would,” “might,” “remains,” “to be,” “plans,” “believes,” “may,” “expects,” “intends,” “anticipates,” “estimate,” “future,” “positioned,” “potential,” “project,” “remain,” “scheduled,” “set to,” “subject to,” “upcoming,” and similar expressions to help identify forward-looking statements. In this press release, forward-looking statements include statements regarding: the completion of the placement and the expected timing thereof and the Company’s expected use of proceeds from the placement; the unique features that the HealthTab™ platform offers to pharmacists and patients. Forward-looking statements reflect the then-current expectations, beliefs, assumptions, estimates and forecasts of Avricore Health’s management. The forward-looking statements in this press release are based upon information available to Avricore Health as of the date of this press release. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Avricore Health and are subject to a number of risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations, including without limitation: failure to meet regulatory requirements; changes in the market; potential downturns in economic conditions; and other risk factors described in Avricore’s public filings. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

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.

Contact:

Hector Bremner, CEO 604-773-8943
[email protected] 
www.avricorehealth.com 

 



Posted on

Jushi Holdings Inc. Announces Significant Expansion of Pennsylvania Cultivation Facility

Company to triple grower-processor’s canopy from
~
33,000 sq. ft. to
~
98,000 sq. ft. in fast growing market

Increase total facility size from
~
90,
000 sq. ft. to
~
160,000 sq. ft.

BOCA RATON, Fla., Nov. 23, 2020 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced plans to nearly double the square footage of its subsidiary’s grower-processor facility (“the Facility”) in Scranton, Pennsylvania from approximately 90,000 sq. ft. to more than 160,000 sq. ft. in a phased expansion. The majority of the approximate 70,000 sq. ft. expansion project will be focused on increasing the Facility’s canopy space, which upon completion will nearly triple to approximately 98,000 sq. ft. The first phase of the expansion is expected to come online in mid-2021 and the final phase will be completed by the second quarter of 2022. In total, Jushi expects to invest approximately $50 million on the expansion project, which is expected to create over 100 new jobs in the Scranton area. Jushi (through its subsidiary Pennsylvania Medical Solutions, LLC), will work with Innovative Industrial Properties, Inc. (through its subsidiary IIP-PA 1 LLC) to partially finance the expansion project via an upsize to the existing lease agreement between the parties. The expansion project is subject to the Company’s successful completion of certain milestones, including receipt of all local and state approvals and permits, and the finalization of a mutually agreed lease amendment with Innovative Industrial Properties Inc. related to the Facility.

“The medical cannabis market in Pennsylvania is rapidly growing and with our products in high-demand, this investment will significantly expand our cultivation capacity and market share,” said Jim Cacioppo, Chief Executive Officer, Chairman and Founder of Jushi. “This is a robust operating environment and with the market intelligence gained through our eight currently operating BEYOND / HELLO™ retail dispensaries, we believe that patient demand for high-quality, medical grade cannabis products is still far from being satisfied. With the phased build out, the support of our financing partner Innovative Industrial Properties, Inc., and our strong balance sheet with ample liquidity, we expect to remain fully funded to operating cash flow positive, including our likely investment beyond Innovative Industrial Properties, Inc.’s support. We believe that by investing in the expansion of our grower-processors, we will generate the greatest potential return for Jushi shareholders.”

Mr. Cacioppo concluded, “We are very excited by the opportunity ahead of us in Pennsylvania, and as one of the fastest growing jobs sectors in the U.S., Jushi and its subsidiaries look forward to bringing additional new local jobs and tax dollars to the region and further investing in Scranton’s economy and community.”

The Company recently completed an expansion project in the third quarter 2020, which included increasing the Facility’s indoor cultivation from approximately 20,000 sq. ft. to approximately 45,000 sq. ft. (~33,000 sq. ft. of canopy) and supplementing the current CO2 extraction with new Class I, Division 1 ethanol extraction technology. The Facility produces high-quality, indoor grown flower and extracts and is strategically located within minutes of Interstate 81, Interstate 84 and the Pennsylvania Turnpike, enabling efficient wholesale distribution to the 98 dispensaries currently operating across the commonwealth, including the Company’s eight operational BEYOND / HELLO™ dispensaries. The Facility is expected to supply the Company’s subsidiaries, and other licensed retail facilities.

About Jushi Holdings Inc.

We are a vertically integrated cannabis company led by an industry-leading management team. In the United States, Jushi is focused on building a multi-state portfolio of branded cannabis assets through opportunistic acquisitions, distressed workouts and competitive applications. Jushi strives to maximize shareholder value while delivering high-quality products across all levels of the cannabis ecosystem. For more information please visit www.jushico.com or our social media channels, Instagram, Facebook, Twitter and LinkedIn.

Forward-Looking Information and Statements

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

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has certain expectations and has made certain assumptions. Key expectations and assumptions made by the Company include, but are not limited to: the continued performance of existing operations in Pennsylvania, Illinois and Nevada, the anticipated opening of additional dispensaries in 2020 and 2021, the expansion and optimization of the grower-processor in Pennsylvania and the facility in Nevada, the opening of new facilities in Ohio, Virginia and California, which are subject to licensing approval. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the ability of Jushi to successfully achieve business objectives, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; and compliance with extensive government regulation, as well as other risks and uncertainties which are more fully described in the Company’s Management, Discussion and Analysis for the three months ended June 30, 2020, and other filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.


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

For further information, please contact:

Investor Relations Contact:

Michael Perlman
Executive Vice President of Investor Relations and Treasury
561-453-1308
[email protected]

Media Contact:

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



Posted on

Spartan Acquisition Corp. II Announces Launch of Initial Public Offering

NEW YORK, Nov. 23, 2020 (GLOBE NEWSWIRE) — Spartan Acquisition Corp. II (the “Company”) announced today that it has commenced its initial public offering (“IPO”) of 25,000,000 units at a price of $10.00 per unit. The Company intends to grant the underwriters a 45-day option to purchase up to an additional 3,750,000 units. Each unit issued in the IPO will consist of one share of the Company’s Class A common stock and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one share of the Company’s Class A common stock at an exercise price of $11.50 per share. The units are expected to be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “SPRQ U.” Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NYSE under the symbols “SPRQ” and “SPRQ WS,” respectively.

Citigroup, Credit Suisse and Cowen are acting as book-running managers and representatives of the underwriters. Morgan Stanley, Barclays and RBC Capital Markets are acting as book-running managers for the proposed offering. TD Securities, MUFG and Siebert Williams Shank are acting as co-managers for the proposed offering.

The public offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (800) 831-9146; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, Telephone: (800) 221-1037, email: [email protected]; or Cowen and Company, LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY,11717, Attn: Prospectus Department, by email at [email protected] or by telephone at (833) 297-2926.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”), but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Spartan Acquisition Corp. II

Spartan Acquisition Corp. II was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. The Company intends to focus its search for a target business in the energy value chain in North America, with a particular focus on opportunities aligned with energy transition and sustainability themes. The Company is sponsored by Spartan Acquisition Sponsor II LLC, which is owned by a private investment fund managed by an affiliate of Apollo Global Management, Inc. (“Apollo”) (NYSE: APO).

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed IPO. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts:

For investors please contact:
[email protected]

For media inquiries please contact:
[email protected]



Posted on

Bragg Achieves Exceptional 72 Per Cent Revenue Growth in Q3

TORONTO, Nov. 23, 2020 (GLOBE NEWSWIRE) — Bragg Gaming Group Inc. (TSXV: BRAG, OTC: BRGGF) (“Bragg”, the “Group” or the “Company”) today released its financial results for the three months ended September 30, 2020. Bragg continued its strong upward revenue1 and Adjusted EBITDA2 growth trajectory over the quarter, achieving 72 per cent revenue growth year-over-year and generating Adjusted EBITDA of €1.8m (C$2.8m3) in the quarter, as compared to a €0.2m (C$0.3m) for the same period in the prior year. Adjusted EBITDA margins significantly increased to 15.7 per cent, up from 2.6 per cent in Q3-2019, a result of improved cost control and higher scale.

“We’ve made extraordinary progress in 2020 and are very pleased with the substantial revenue and EBITDA growth that we’ve delivered,” said Adam Arviv, Interim Chief Executive Officer of Bragg. “We continue to expand globally, enhancing our content portfolio and technology offering, and securing new customers across key geographies.”

Bragg continues to focus on expanding its global footprint, demonstrated by the onboarding of 14 new customers in the quarter. The Company is also in advanced discussions with new customers across multiple licensed jurisdictions in Europe and Latin America. In addition, Oryx continued to strengthen their unique games portfolio with the launch of 11 new games.

“We’re particularly pleased with the confidence that investors have demonstrated in our 2021 strategy and enhanced leadership team,” continued Mr. Arviv. “Richard Carter and I have taken active leadership roles within Bragg to ensure the future success of the company. Our partnership represents alignment to move our global strategy forward and our extensive networks and personal reputations within the U.S. gaming market will add tremendous value for Bragg shareholders. With the completion of our capital raise last week, we are now extremely well-positioned to capitalize on the explosive growth in the online gaming sector. We continue to expand throughout Europe and Latin America and are focused on expanding our presence and establishing new partnerships in the North American market in 2021.”


Third


Quarter 2020 Highlights and Business Advancements

  • Group revenue of €11.7m (C$18.1m) vs €6.8m (C$10.5m) in Q3-2019 representing 72 per cent growth year over year. The Group experienced a 3.3 per cent decrease over the previous quarter (€12.1m (C$18.8m) in Q2-2020), due to seasonality.
  • Group Adjusted EBITDA of €1.8m (C$2.8m), representing significant growth from €0.2m (C$0.3m) in the prior year. Adjusted EBITDA margins improved significantly, reaching 15.7 per cent in the quarter (Q3 2019: 2.6 per cent).
  • Significant increase in total bets for the period; up 95 per cent from the same period in 2019, totaling €3.3b (C$5.1b), as compared to €1.7b (C$2.6b) in Q3-2019. The number of unique players^ increased by 89 per cent to 1.8m (Q3-2019: 1.0m). The increase in bets and unique players are a result of significant additions to Bragg’s content offering and technical improvements to Bragg’s platform.
  • Successful launch of 14 new operators
  • Expanded geographic presence with entry into two new markets; Denmark and Latvia
  • Decreased dependence on our top ten customers, with revenue concentration from these customers for the nine months ended September 30, 2020 of 62 per cent, down significantly from 76 per cent for the nine months ended September 30, 2019. This decrease demonstrates the underlying success of the Group’s diversification efforts and international growth initiatives.
  • Enhanced leadership team with addition of Richard Carter, former CEO of SBTech. Richard successfully led SBTech though their merger with DraftKings.

__________________________________________

1
Revenue – includes group share in game and content, platform fees and management and turnkey solutions
2Adjusted EBITDA – excludes income or expenses that relate to exceptional items and non-cash share-based charges
^ Unique players – an individual who made a real money bet at least once during the period
3 For ease of reference, we present the financial results in CAD at today’s exchange rate of €1 = C$1.55


F


ull year


2020 Financial Guidance

The Group’s solid financial growth continued into the fourth quarter of 2020, with revenue expected to be in line with management expectations. Bragg forecasts revenue for 2020 to be circa €43m (C$67m) (versus actual 2019 revenue of €26.6m (C$41.2m), an increase of up to 62 per cent versus 2019, with Adjusted EBITDA for 2020 in the range of €5.2m to €5.6m (C$8.1m to C$8.7m) (versus actual 2019 Adjusted EBITDA of €1.0m (C$1.6m)).


2021 Financial Guidance


Bragg forecasts 2021 to be in the range of €47m to €51m (C$73m to C$79m), and Adjusted EBITDA for 2021 to be in the range of €6.3m to €6.7m (C$9.8m – 10.4m).


Third


Quarter 2020


Conference Call Information


Adam Arviv, Bragg’s Interim Chief Executive Officer, will host the conference call along with Chief Strategy Officer Yaniv Spielberg and Chief Financial Officer Ronen Kannor. The conference call is scheduled to take place on November 23rd, 2020 at 8:30 a.m. Eastern Time.

To join the call, please use the below dial-in information:

US/Canada: +1 270 215 9892

US/Canada (toll-free): +1 866 997 6681

UK: 0 2031070289 or 0 8000288438

Passcode:
1239305

A replay of the call will be available for seven days following the conclusion of the live call. In order to access the replay, dial +1 404 537 3406 or +1 855 859 2056 (toll-free) and use the passcode 1239305.

About Bragg Gaming Group

Bragg Gaming Group
Inc. (TSXV:BRAG, OTC:BRGGF) is an innovative B2B online gaming solution provider.  Leveraging their industry-leading technology, it offers a turnkey solution, including an omni-channel retail, online and mobile iGaming platform, as well as advanced casino content aggregator, sportsbook, lottery, marketing and operational services. Renowned for its rapid and seamless integration, its content aggregator combines casino, slots, live dealer, lottery, virtual sports and instant-win game content from top tier gaming content providers, along with proprietary content, and is fully compliant with major regulated jurisdictions.

Capitalizing on its current portfolio and through targeted acquisitions, Bragg is focused on becoming a leader within the evolving global gaming industry. Learn more at https://www.bragg.games.

For Bragg Gaming Group, contact:

Yaniv Spielberg, CSO, Bragg Gaming Group Inc.
+1-647-800-2282
[email protected]

For media enquiries or interviews, please contact:

Lina Sennevall, Square in the Air
[email protected]

For US investor inquiries, please contact:

Laine Yonker, Edison Group
+1-646-653-7035
[email protected]

Cautionary Statement Regarding Forward-Looking Information

This news release may contain forward-looking statements or “forward-looking information” within the meaning of applicable Canadian securities laws (“forward-looking statements”). Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

All forward-looking statements reflect the Company’s beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company’s forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have been made in connection with the forward-looking statements include the following: the impact of COVID-19 on the business of Bragg; the countercyclical growth of the business of Bragg; the regulatory regime governing the business of Bragg; the operations of the Company; the products and services of the Company; Bragg’s customers; acquisition opportunities; the growth of Bragg’s business, which may not be achieved or realized within the time frames stated or at all; and the anticipated size and/or revenue associated with the gaming market globally.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the following: risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the inability to access sufficient capital from internal and external sources; the inability to access sufficient capital on favorable terms; realization of growth estimates, income tax and regulatory matters; the ability of Bragg to implement its business strategies; competition; economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices; the estimated size of the gaming market globally; changes in customer demand; disruptions to our technology network including computer systems and software; natural events such as severe weather, fires, floods and earthquakes; and risks related to health pandemics and the outbreak of communicable diseases, such as the current outbreak of COVID-19.

Although the Company 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 not to be as anticipated, estimated or intended. There can be no assurance that forward-looking 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.

Any forward-looking statement made by the Company in this news release or the earnings call is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Company nor any of its management or directors undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.


Non-IFRS Financial Measures

Statements in this news release make reference to
“Adjusted EBITDA”
, which is a non-IFRS (as defined herein) financial measure that the Company believes is appropriate to provide meaningful comparison with, and to enhance an overall understanding of, the Company
‘
s past financial performance and prospects for the future. The Company believes that
“Adjusted EBITDA”
provides useful information to both management and investors by excluding specific expenses and items that management believe are not indicative of
the Company’s
core operating results.
“Adjusted EBITDA”
is a financial measure that does not have a standardized meaning under International Financial Reporting Standards (
“

IFRS

“
). As there is no standardized method of calculating
“Adjusted EBITDA”
, it may not be directly comparable with similarly titled measures used by other companies. The Company considers
“Adjusted EBITDA”
to be a relevant indicator for measuring trends in performance and its ability to generate funds to service its debt and to meet its future working capital and capital expenditure requirements.
“Adjusted EBITDA”
is not a generally accepted earnings measure and should not be considered in isolation or as an alternative to net income (loss), cash flows or other measures of performance prepared in accordance with IFRS.

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 news release.



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Sherritt’s CEO to Step Down from Role in 2021

Sherritt’s CEO to Step Down from Role in 2021

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO–(BUSINESS WIRE)–
Sherritt International Corporation (“Sherritt” or the “Company”) (TSX:S) today announced that its President and Chief Executive Officer, David Pathe, has informed the Board of Directors of his desire to step down from his role in 2021. The Company is launching a search for his successor, and Mr. Pathe has agreed to stay on until a replacement is in place to ensure an orderly transition.

Mr. Pathe’s leadership during his eight-year tenure guided Sherritt through an era characterized by difficult and unpredictable nickel prices and the financial threats posed by the Ambatovy project by preserving the Company’s liquidity and working relentlessly to improve its balance sheet. These achievements will allow Sherritt to capitalize on opportunities that lie ahead. Sherritt’s Board of Directors would like to thank Mr. Pathe for his years of service and dedication.

“I would like to thank all of the employees of Sherritt for their hard work and tireless commitment to our Company,” said David Pathe, President and CEO of Sherritt. “Their resilience and determination have enabled Sherritt to address its challenges and respond to an enormous amount of change. I leave Sherritt knowing that the Company has more runway to take a leading market position in the coming electronic vehicle revolution and in hydrometallurgy technology innovation, and the time is right for someone new to take Sherritt forward to the next stage of its history.”

Mr. Pathe was appointed as President and CEO effective January 1, 2012 and also served as Chair of the Board from June 13, 2017 to June 26, 2019. Prior to becoming President and CEO, Mr. Pathe acted as Senior Vice President, Finance and Chief Financial Officer of the Company from March 2011, as Senior Vice President, General Counsel and Corporate Secretary from July 2009, as Vice President, General Counsel and Corporate Secretary from October 2008 and as Assistant General Counsel and Assistant Corporate Secretary from June 2007. Mr. Pathe was also an advocate for diversity and inclusion in the mining industry, having served as Co-Chair of the 30% Club and as a member of the Catalyst Canada Advisory Board. Mr. Pathe was recognized for these efforts by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) as their 2020 Diversity and Inclusion Award winner.

“David’s tenure as Chief Executive was over a time as difficult to manage as any the Company has faced in its over 90-year history,” said Sir Richard Lapthorne, Chair of the Board of Directors of Sherritt. “He was responsible for finding the funds required to meet Sherritt’s contractual obligations from the legacy Ambatovy Project and, over the past six years, succeeded in finding ways to gradually improve the balance sheet, ultimately through exiting Ambatovy completely, which was achieved this past August. All of this was delivered while steadily improving performance from operations despite no help from the nickel price and increasingly hostile U.S. policy towards Cuba.”

Under Mr. Pathe’s leadership, Sherritt introduced and executed against a set of strategic priorities designed to advance its suite of long-life low-cost assets while prudently managing its finances, with highlights including:

  • Eliminating $3.5 billion in debt obligations over the last six years and providing Sherritt with more than six years to its first debt maturity in 2026;
  • Resolving its investment legacy in the Ambatovy Joint Venture (“Ambatovy”) in August 2020, terminating all outstanding debt obligations, eliminating the risk of funding further cash calls and consequent cross defaults, and transitioning Sherritt’s operatorship of the project to shift focus to mining activities through the Moa Joint Venture (“Moa JV”);
  • Reaching agreements with Sherritt’s Cuban partners for the collection of receivables despite the erosion of Cuban creditworthiness resulting from the increased aggressiveness of U.S. policy towards the country;
  • Exiting the coal business in 2014 for $946 million, enabling Sherritt to begin the process of deleveraging the balance sheet and providing Sherritt with the liquidity to manage its Ambatovy commitments; and
  • Strengthening the culture and operational capability of the company through a sustained commitment to operational excellence and diversity and inclusion.

“David accomplished all of the milestones in his strategic plan while maintaining a clear commitment to environmental stewardship, ensuring the health and safety for our employees and fostering a diverse and inclusive culture,” added Sir Richard. “Quite simply, David is leaving Sherritt having given it a new ability to look forward and the Board sincerely wishes him every success with whatever he decides to do in the coming years.”

About Sherritt

Sherritt is a world leader in the mining and refining of nickel and cobalt from lateritic ores with projects and operations in Canada and Cuba. The Corporation is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide. The Corporation’s common shares are listed on the Toronto Stock Exchange under the symbol “S”.

Joe Racanelli, Director of Investor Relations

Telephone: 416-935-2457

Email: [email protected]

www.sherritt.com

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Energy Natural Resources Mining/Minerals Oil/Gas

MEDIA:

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CIBC Asset Management announces CIBC ETF cash distributions for November 2020

Canada NewsWire

TORONTO, Nov. 23, 2020 /CNW/ – CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. today announced the November 2020 cash distributions for CIBC ETFs, which distribute monthly and quarterly.

Unitholders of record on November 30, 2020, will receive cash distributions payable on December 3, 2020. Details of the final “per unit” distribution amounts are as follows:


CIBC ETF


TSX Ticker Symbols


Cash Distribution Per Unit ($)

 

CIBC Active Investment Grade
Corporate Bond ETF

 

 

CACB

$0.045

CIBC Active Investment Grade
Floating Rate Bond ETF

 

CAFR

$0.026

 

 

 

CIBC Flexible Yield ETF (CAD-
Hedged)

CFLX

$0.057

 

 

 

CIBC Conservative Fixed Income
Pool – ETF series

CCNS

$0.04

 

 

 

CIBC Core Fixed Income Pool –
ETF series

CCRE

$0.043

 

 

 

CIBC Core Plus Fixed Income Pool
– ETF series

CPLS

$0.045

 

 

 

CIBC ETFs are managed by CIBC Asset Management Inc., a subsidiary of Canadian Imperial Bank of Commerce. Commissions, management fees and expenses all may be associated with investments in exchange traded funds (ETFs). Please read the CIBC ETFs prospectus or ETF Facts document before investing. To obtain a copy, call 1-888-888-3863, ask your advisor or visit www.cibc.com/etfs. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. CIBC ETFs are offered by registered dealers.

About CIBC

CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.

About CIBC Asset Management

CIBC Asset Management, Inc. (CAM), the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. CAM’s offerings include: a comprehensive platform of mutual funds, strategic managed portfolio solutions, discretionary investment management services for high-net-worth individuals, and institutional portfolio management. CAM is one of Canada’s largest asset management firms, with over $145 billion in assets under administration as of October 2020.

SOURCE CIBC

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Amgen To Transition Development And Commercial Rights For Omecamtiv Mecarbil And AMG 594 To Cytokinetics

PR Newswire

THOUSAND OAKS, Calif., Nov. 23, 2020 /PRNewswire/ — Amgen (NASDAQ:AMGN) today announced the Company has provided notice to Cytokinetics of termination of its collaboration and its intention to transition the development and commercialization rights for omecamtiv mecarbil and AMG 594. Omecamtiv mecarbil, an investigational selective cardiac myosin activator, was studied in GALACTIC-HF, a Phase 3 clinical trial in patients with chronic heart failure with reduced ejection fraction (HFrEF), and AMG 594, a novel mechanism selective cardiac troponin activator, is in Phase 1 development for HFrEF and other types of heart failure.

Primary results of GALACTIC-HF were recently presented at the American Heart Association Scientific Sessions and simultaneously published in the New England Journal of Medicine. The trial demonstrated a statistically significant effect of treatment with omecamtiv mecarbil to reduce risk of the primary composite endpoint of cardiovascular (CV) death or heart failure events (heart failure hospitalization and other urgent treatment for heart failure) compared to placebo in patients treated with standard of care. No reduction in the secondary endpoint of time to CV death was observed.

“Cardiovascular disease is one of the most significant public health issues in the world which means patients need more innovation, not less. Our commitment to cardiovascular disease remains steadfast, and we look forward to continuing to work closely with the cardiovascular community as we focus on advancing our innovative therapies, including our Lp(a) inhibitor olpasiran (AMG 890), which is currently in Phase 2,” said David M. Reese, M.D., executive vice president of Research and Development at Amgen. “We are grateful to the investigators and patients who participated in GALACTIC-HF. Unfortunately, the results of GALACTIC-HF did not meet the high bar we had set for the program.”

Amgen thanks Cytokinetics and Servier for their productive collaboration over many years, and will work closely with them to facilitate a smooth transition of omecamtiv mecarbil. Servier provides funding and strategic support for the program.

About Amgen
 
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.  

Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people’s lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world’s leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.  

For more information, visit www.amgen.com and follow us on www.twitter.com/amgen.  

Amgen Forward-Looking Statements
This news release contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company, including BeiGene, Ltd. or any collaboration or potential collaboration in pursuit  of  therapeutic antibodies against COVID-19 (including statements regarding such collaboration’s, or Amgen’s, ability to discover and develop fully-human neutralizing antibodies targeting SARS-CoV-2 or antibodies against targets other than the SARS-CoV-2 receptor binding domain, and/or to produce any such antibodies to potentially prevent or treat COVID-19), or the Otezla® (apremilast) acquisition (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on Amgen’s business, outcomes, progress, or effects relating to studies of Otezla as a potential  treatment  for  COVID-19, and  other  such  estimates  and  results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including its most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

No forward-looking statement can be guaranteed and actual results may differ materially from those Amgen projects. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, preclinical results do not guarantee safe and effective performance of product candidates in humans. The complexity of the human body cannot be perfectly, or sometimes, even adequately modeled by computer or cell culture systems or animal models. The length of time that it takes for Amgen to complete clinical trials and obtain regulatory approval for product marketing has in the past varied and Amgen expects similar variability in the future. Even when clinical trials are successful, regulatory authorities may question the sufficiency for approval of the trial endpoints Amgen has selected. Amgen develops product candidates internally and through licensing collaborations, partnerships and joint ventures. Product candidates that are derived from relationships may be subject to disputes between the parties or may prove to be not as effective or as safe as Amgen may have believed at the time of entering into such relationship. Also, Amgen or others could identify safety, side effects or manufacturing problems with its products, including its devices, after they are on the market.

Amgen’s results may be affected by its ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing its products and global economic conditions. In addition, sales of Amgen’s products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, Amgen’s research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. Amgen’s business may be impacted by government investigations, litigation and product liability claims. In addition, Amgen’s business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If Amgen fails to meet the compliance obligations in the corporate integrity agreement between Amgen and the U.S. government, Amgen could become subject to significant sanctions. Further, while Amgen routinely obtains patents for its products and technology, the protection offered by its patents and patent applications may be challenged, invalidated or circumvented by its competitors, or Amgen may fail to prevail in present and future intellectual property litigation. Amgen performs a substantial amount of its commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depends on third parties for a portion of its manufacturing activities, and limits on supply may constrain sales of certain of its current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials  for Amgen’s manufacturing  activities,  the  distribution  of Amgen’s products,  the commercialization of Amgen’s product candidates, and Amgen’s clinical trial operations, and any such events may have a material adverse effect on Amgen’s product development, product sales, business and results of operations. Amgen relies on collaborations with third parties for the development of some of its product candidates and for the commercialization and sales of some of its commercial products. In addition, Amgen competes with other companies with respect to many of its marketed products as well as for the discovery and development of new products. Further, some raw materials, medical devices and component parts for Amgen’s products are supplied by sole third-party suppliers. Certain of Amgen’s distributors, customers and payers have substantial purchasing leverage in their dealings with Amgen. The discovery of significant problems with a product similar to one of Amgen’s products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on its business and results of operations. Amgen’s efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology Amgen has acquired, may not be successful. A breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of Amgen’s systems and Amgen’s data. Amgen’s stock price may be volatile and may be affected by a number of events. Amgen’s business performance could affect or limit the ability of the Amgen Board of Directors to declare a dividend or its ability to pay a dividend or repurchase its common stock. Amgen may not be able to access the capital and credit markets on terms that are favorable to it, or at all.

The scientific information discussed in this news release related to Amgen’s product candidates is preliminary and investigative. Such product candidates are not approved by the U.S. Food and Drug Administration, and no conclusions can or should be drawn regarding the safety or effectiveness of the product candidates.

Further, any scientific information discussed in this news release relating to new indications for Amgen’s products is preliminary and investigative and is not part of the labeling approved by the U.S. Food and Drug Administration for the products. The products are not approved for the investigational use(s) discussed in this news release, and no conclusions can or should be drawn regarding the safety or effectiveness of the products for these uses. 

CONTACT: Amgen, Thousand Oaks 
Jessica Akopyan, 805-447-0974 (media)
Trish Rowland, 805-447-5631(media) 
Arvind Sood, 805-447-1060 (investors) 

 

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SOURCE Amgen

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Treasury Metals Announces Commencement of 10,000m Drilling Program at Goldlund Gold Project

PR Newswire

TSX: TML       OTCQX: TSRMF

TORONTO, Nov. 23, 2020 /PRNewswire/ – Treasury Metals Inc. (TSX: TML) (“Treasury” or the “Company“) is pleased to confirm that it has commenced an initial  10,000m winter drilling program as the first phase of its overall program at its 100% owned Goldlund Gold Project (“Goldlund”) located to the east of Dryden, Ontario. The program will target in-fill and expansion drilling with the objective of converting Inferred to Indicated resources as well as defining additional resources by filling in un-drilled areas between historical step-out drill holes.

The exploration program has been designed to ensure the safety of the workforce and surrounding communities during the COVID-19 pandemic and will incorporate enhanced operating protocols that are consistent with local health guidance.

Goldlund Drill Program

The Goldlund winter drilling program will consist of approximately 10,000 metres of infill and expansion drilling in support of resource delineation at Goldlund. A total of 8,000 metres of infill drilling will initially be targeted at the lesser-drilled areas of Zones 2, 3, 4 and 8 that are encompassed within anticipated open pits at Goldlund, with the objective of increasing confidence in current Inferred resources to support conversion to Indicated status. This initial drilling is targeted for completion by March 2021. This drilling is anticipated to contribute to future advanced studies that follow upon completion of the Preliminary Economic Assessment (“PEA”) at Goliath and Goldlund targeted for early Q1 2021 (see press release dated Oct. 27, 2020).

Figure 1: Goldlund Plan Map with Proposed 2020/21 Drilling Targets

The remaining 2,000 metres will initiate the expansion drilling which will target the strike extension of Zone 1 and 7.  This drilling is intended to define the resource between historical step-out drilling and has the potential to expand existing wireframes for inclusion of non-resource mineralized material in future resource estimates.  The program may be expanded following positive results.

During Q1 2021, Treasury anticipates adding a second drill with the objective of expediting the planned infill program. The added drill would subsequently transition to the expansion drilling along strike to the northeast and southwest of the existing resource at Goldlund.

In addition, the Company is advancing plans for future exploration at the Goliath Gold Project, located approximately 35 km by road from Goldlund. The Company believes that there remains significant potential for expansion of the deposit down dip and discovery of additional high-grade concentrations along strike at the Goliath Gold Project and will release drill program details in due course.

Regional Potential

The nearly 65km strike length of the Wabigoon Greenstone belt now consolidated by Treasury hosts several prospective exploration targets with historical gold anomalies and showings.  The most advanced of these, outside of the defined resources, is the Miller target where recent drilling has confirmed the presence of a Granodiorite sill with quartz veining and mineralization similar to those found at Goldlund 10km to the Southwest. The Company intends to define an initial resource at Miller as part of the ongoing PEA which will also be incorporated into a preliminary mine plan.  The updated resource and study will help to better define the extents of the Miller mineralization as well as identify targets for on-strike and down-dip growth.

Treasury is also designing a field program to investigate the most prospective targets across the combined 330 km2 claim package of the Goldlund and Goliath properties.  This will aim to locate and identify lithologies that are known to host and concentrate gold mineralization, with the goal of developing satellite deposits to support the future mining activities.  Treasury will release details of the program in advance of the 2021 field season.

Figure 2: Regional Exploration Targets

Qualified Persons
Mark Wheeler, P.Eng., Director, Projects, and Adam Larsen, Exploration Manager, are both considered as a “Qualified Person” for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Project (“NI 43-101“), and have reviewed and approved the scientific and technical disclosure contained in this news release on behalf of Treasury.

About Treasury Metals Inc.
Treasury Metals Inc. is a gold focused company with assets in Canada. Treasury’s Goliath Gold Project and Goldlund Gold Project are located in Northwestern Ontario. The projects benefit substantially from excellent access to the Trans-Canada Highway, related power and rail infrastructure, and close proximity to several communities including Dryden, Ontario. The Company also owns several other projects throughout Canada, including the Lara Polymetallic Project, Weebigee Gold Project, and grassroots gold exploration property Gold Rock/Thunder Cloud.

To view further details about Treasury, please visit the Company’s website at www.treasurymetals.com.

Forward-Looking Statements

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “plans”, “projects”, “intends”, “estimates”, “envisages”, “potential”, “possible”, “strategy”, “goals”, “objectives”, or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Actual results or developments may differ materially from those in forward-looking statements. Treasury disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

Since forward-looking information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, exploration and production for precious metals; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of resource estimates; health, safety and environmental risks; worldwide demand for gold and base metals; gold price and other commodity price and exchange rate fluctuations; environmental risks; competition; incorrect assessment of the value of acquisitions; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations.

Actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits may be derived therefrom and accordingly, readers are cautioned not to place undue reliance on the forward-looking information.

Twitter @TreasuryMetals

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SOURCE Treasury Metals Inc.

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Ideanomics Increases Its Stake in e-Tractor Company Solectrac

– Following Ideanomics’ initial investment, Solectrac received heightened product and investment interest

– Electric tractors are poised to disrupt the $75 billion global agricultural tractor industry

PR Newswire

NEW YORK, Nov. 23, 2020 /PRNewswire/ — Ideanomics(NASDAQ: IDEX) (“Ideanomics” or the “Company”) announces that it has increased its stake in California-based Solectrac, Inc. through a follow-on investment of an additional $1.3 million. This additional investment reflects investment interest in Solectrac by ESG funds which is expected to close in the coming weeks. As a reminder, on October 22, 2020, the Company announced that it acquired 14.7% of Solectrac, Inc. for the consideration of $1.3 million. Since this announcement, Solectrac experienced an increase in product and investment inquiries.

This recent investment increases Ideanomics ownership to 24%, which will reduce to approximately 22% post-money once the additional third-party investment is finalized. The new investment by Ideanomics allows Ideanomics to increase its share of ownership sufficiently to recognize its stake in Solectrac under the equity method for US GAAP accounting purposes.

“We are very pleased to increase our investment in Steve and the Solectrac team, and we welcome the investment interest from funds looking to deploy capital in the clean energy and EV sector. We believe Solectrac has enormous potential and, given the uptick in both product inquiries and investment interest they are seeing, we exercised our rights to increase our stake so we can help Solectrac scale to meet anticipated market demand,” said Alf Poor, CEO of Ideanomics.  “We are excited to work with Ideanomics to accelerate progress toward a cleaner, healthier future,” said Steve Heckeroth, CEO/Founder of Solectrac.

Solectrac develops, assembles and distributes 100% battery-powered electric tractors—an alternative to diesel tractors—for agriculture and utility operations. Founded in 2012 to take electric tractors into commercial production, Solectrac was incorporated as a California Benefit Corp in 2019. It has received grants from the Indian U.S. Science and Technology Fund (IUSSTF) and the National Science Foundation (NSF). Earlier this year, Solectrac received the World Alliance Solar Impulse Efficient Solutions label from the Solar Impulse Foundation. The label was awarded for being one of the one thousand most efficient and profitable solutions that can transition society to being economically viable while being environmentally sustainable. To learn more about Solectrac and the benefits of its electric tractors, read the Company’s bylined article published earlier this month.

For more information, visit: ideanomics.com and solectrac.com.

About Solectrac


Solectrac
, Inc., located in Northern California, has developed 100% battery powered, all electric tractors for agriculture and utility operations. Solectrac tractors provide an opportunity for farmers around the world to power their tractors by using the sun, wind, and other clean renewable sources of energy. The company’s mission is to offer farmers independence from the pollution, infrastructure, and price volatility associated with fossil fuels.

About Ideanomics


Ideanomics
 is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Mobile Energy Global (MEG) division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, MEG and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.

The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.

Safe Harbor Statement
This press release contains certain statements that may include “forward looking statements”. All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov.. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Investor Relations and Media Contact
Solectrac, Inc.
Christiane Heckeroth, CCO
Email: [email protected]

Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116 New York, NY 10018
[email protected]

Valerie Christopherson / Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
[email protected]

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SOURCE Ideanomics; Solectrac