Market Newsdesk

Company Committed to Advancing
Omecamtiv
Mecarbil
with
Initial
Focus on Preparation
s for Regulatory Interactions Following Positive Results of GALACTIC-HF

Company to Host Conference Call and Webcast Today at
8:30
AM
Eastern Time

SOUTH SAN FRANCISCO, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) — Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that Amgen has elected to terminate the Collaboration and Option Agreement, dated December 20, 2006 between the companies (the “Agreement”) and thereby end its collaboration with Cytokinetics, effective May 20, 2021, and intends to transition development and commercialization rights for omecamtivmecarbil and AMG 594 to Cytokinetics. Omecamtivmecarbil is an investigational cardiac myosin activator, developed for the potential treatment of heart failure with reduced ejection fraction (HFrEF), and was recently studied in GALACTIC-HF, a positive Phase 3 cardiovascular outcomes clinical trial. AMG 594, a novel mechanism cardiac troponin activator, is in Phase 1 development for HFrEF and other types of heart failure.

“We believe this is an important pivot point and opportunity for our company, as we reclaim omecamtivmecarbil following positive Phase 3 clinical trial results,” said Robert I. Blum, Cytokinetics’ President and Chief Executive Officer. “In one of the largest heart failure clinical trials ever conducted, our novel mechanism drug candidate demonstrated positive efficacy in a diverse patient population with high unmet need and without an imbalance in the overall incidence of adverse events. We look forward to rapidly advancing next steps for omecamtivmecarbil, which we expect will include discussions with regulatory authorities. We believe we are well prepared to press forward given our strong balance sheet and pioneering leadership in the development of muscle-directed therapies.”

Terms of Termination

Pursuant to the terms of the Agreement, upon the effective date of Amgen’s termination, research, development and commercialization rights for compounds, including omecamtiv mecarbil and AMG 594, will transition to Cytokinetics. In addition, Amgen will have certain obligations set forth in the Agreement, including: cooperating with Cytokinetics and its designee(s) to facilitate a reasonably smooth, orderly and prompt transition of the programs, including transfer and assignment to Cytokinetics of specified regulatory filings, data and other information; if requested by Cytokinetics, transferring inventory of compounds to Cytokinetics at Cytokinetics’ expense; to the extent possible and requested by Cytokinetics, assigning relevant third-party manufacturing agreements to Cytokinetics; and granting to Cytokinetics exclusive and non-exclusive licenses to certain intellectual property rights. Cytokinetics will have no trailing royalty payment obligations to Amgen for either omecamtivmecarbil or AMG 594. With Cytokinetics’ consent, Amgen granted a sublicense to Les Laboratoires Servier and Institut de Recherches Internationales Servier (“Servier”) to commercialize omecamtiv mecarbil in Europe and the Commonwealth of Independent States, including Russia. Cytokinetics is party to a letter agreement with Amgen and Servier entered into in 2016, which provides that if Amgen’s rights to omecamtiv mecarbil are terminated, (i) the sublicensed rights previously granted by Amgen to Servier with respect to omecamtiv mecarbil, will remain in effect post termination of the Agreement and become a direct license or sublicense of such rights by Cytokinetics to Servier, on substantially the same terms as those in the Option, License and Collaboration Agreement between Amgen and Servier, and (ii) Amgen will, at Cytokinetics’ election, transfer to Cytokinetics or its designee (including Servier) certain ongoing development activities.

GALACTIC-HF
:
Results and
Next Steps

Primary results from GALACTIC-HF (Global Approach to Lowering Adverse Cardiac Outcomes Through Improving Contractility in Heart Failure), the Phase 3 event-driven cardiovascular outcomes clinical trial of omecamtiv mecarbil, were recently presented at the American Heart Association (AHA) Scientific Sessions 2020, and were simultaneously published in the New England Journal of Medicine.¹

GALACTIC-HF, one of the largest Phase 3 global cardiovascular outcomes trials in heart failure ever conducted, enrolled 8,256 patients who were at risk of hospitalization and death, despite being well treated on standard of care therapy. After a median duration of follow-up of 21.8 months, 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 and no other secondary endpoints were met in accordance with the prespecified statistical analysis. The effect of omecamtiv mecarbil was generally consistent across prespecified subgroups and with a potentially greater treatment effect suggested in patients with a lower left ventricular ejection fraction.

Cytokinetics has received positive feedback from key heart failure opinion leaders on the primary results, with particular interest in the potential role of omecamtiv mecarbil in the treatment of advanced heart failure patients who remain at risk for hospitalization despite being treated with standard of care regimens. The company will be conducting market research to gain additional feedback from physicians and payors to inform the potential path forward. Cytokinetics expects to seek regulatory feedback regarding a potential registration path for omecamtivmecarbil, subject to cooperation and transitions from Amgen. In parallel, Cytokinetics plans to conduct commercial readiness assessments and to evaluate potential partnering opportunities, including co-promotion options in North America as well as licensing in other territories.

Conference Call and Webcast Information

Members of Cytokinetics’ senior management team will host a conference call and webcast today, November 23, 2020, at 8:30 AM Eastern Time. The webcast can be accessed through the Investors & Media section of the Cytokinetics website at www.cytokinetics.com. The live audio of the conference call can also be accessed by telephone by dialing either (866) 999-CYTK (2985) (United States and Canada) or (706) 679-3078 (international) and typing in the passcode 2184075.

An archived replay of the webcast will be available via Cytokinetics’ website until December 7, 2020. The replay will also be available via telephone by dialing (855) 859-2056 (United States and Canada) or (404) 537-3406 (international) and typing in the passcode 2184075 from November 23, 2020 at 11:30 AM Eastern Time until December 7, 2020.

About Cytokinetics

Cytokinetics is a late-stage biopharmaceutical company focused on discovering, developing and commercializing first-in-class muscle activators and next-in-class muscle inhibitors as potential treatments for debilitating diseases in which muscle performance is compromised and/or declining. As a leader in muscle biology and the mechanics of muscle performance, the company is developing small molecule drug candidates specifically engineered to impact muscle function and contractility. Cytokinetics is preparing for regulatory interactions for omecamtiv mecarbil, its novel cardiac muscle activator, following positive results from GALACTIC-HF, a large, international Phase 3 clinical trial in patients with heart failure. Cytokinetics is conducting METEORIC-HF, a second Phase 3 clinical trial of omecamtivmecarbil. Cytokinetics is also developing CK-274, a next- generation cardiac myosin inhibitor, for the potential treatment of hypertrophic cardiomyopathies (HCM). Cytokinetics is conducting REDWOOD-HCM, a Phase 2 clinical trial of CK-274 in patients with obstructive HCM. Cytokinetics is also developing reldesemtiv, a fast skeletal muscle troponin activator for the potential treatment of ALS and other neuromuscular indications following conduct of FORTITUDE-ALS and other Phase 2 clinical trials. The company is considering potential advancement of reldesemtiv to Phase 3 pending ongoing regulatory interactions. Cytokinetics continues its over 20-year history of pioneering innovation in muscle biology and related pharmacology focused to diseases of muscle dysfunction and conditions of muscle weakness.

For additional information about Cytokinetics, visit www.cytokinetics.com and follow us on Twitter, LinkedIn, Facebook and YouTube.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the “Act”). Cytokinetics disclaims any intent or obligation to update these forward-looking statements and claims the protection of the Act’s Safe Harbor for forward-looking statements. Examples of such statements include, but are not limited to, statements relating to the GALACTIC-HF clinical trial; statements relating to the METEORIC-HF clinical trial; Cytokinetics’ activities to advance the development of omecamtivmecarbil; the potential benefits of omecamtivmecarbil, including its ability to represent a novel therapeutic strategy to increase cardiac muscle function and restore cardiac performance; the potential approval of omecamtiv mecarbil by the FDA or any other regulatory authority; Amgen’s fulfillment of its undertakings regarding transition of the omecamtivmecarbil and AMG 594 programs to Cytokinetics; any decision on the part of Servier to maintain or terminate its sublicense in respect of omecamtivmecarbil prior to the effectiveness of the termination of the Amgen-Cytokinetics collaboration; Cytokinetics’ and its partners’ research and development activities; the design, timing, results, significance and utility of preclinical and clinical results; and the properties and potential benefits of Cytokinetics’ other drug candidates. Such statements are based on management’s current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to, potential difficulties or delays in the development, testing, regulatory approvals for trial commencement, progression or product sale or manufacturing, or production of Cytokinetics’ drug candidates that could slow or prevent clinical development or product approval; Cytokinetics’ drug candidates may have adverse side effects or inadequate therapeutic efficacy; the FDA or foreign regulatory agencies may delay or limit Cytokinetics’ or its partners’ ability to conduct clinical trials; Cytokinetics may be unable to obtain or maintain patent or trade secret protection for its intellectual property; the nature of Amgen’s decisions and activities with respect to the transfer of rights to develop and commercialize omecamtivmecarbil and AMG 594 to Cytokinetics; standards of care may change, rendering Cytokinetics’ drug candidates obsolete; competitive products or alternative therapies may be developed by others for the treatment of indications Cytokinetics’ drug candidates and potential drug candidates may target; and risks and uncertainties relating to the timing and receipt of payments from its partners, including milestones and royalties on future potential product sales under Cytokinetics’ collaboration agreements with such partners. For further information regarding these and other risks related to Cytokinetics’ business, investors should consult Cytokinetics’ filings with the Securities and Exchange Commission.

Contact:
Cytokinetics
Diane Weiser
Senior Vice President, Corporate Communications, Investor Relations
(415) 290-7757

References

1. Teerlink J et al. NEJM. 2020

TORONTO, Nov. 23, 2020 (GLOBE NEWSWIRE) — Dundee Corporation (TSX: DC.A, DC.PR.B and DC.PR.D) (“Dundee” or the “Corporation”) announced today that it intends to commence a substantial issuer bid (the “Offer”) to purchase for cancellation from the holders thereof who choose to participate up to C$20,000,000 in value of its Class A subordinate voting shares in the capital of the Corporation (the “SV Shares”). The Offer is being made by way of a “modified Dutch auction”, which will allow holders who choose to participate in the Offer to individually select the price, within a price range of not less than C$1.40 and not more than C$1.60 per SV Share (in increments of C$0.05 per SV Share), at which they will tender their SV Shares to the Offer. Upon expiry of the Offer, the Corporation will determine the lowest purchase price (the “Purchase Price”) (which will not be less than C$1.40 and not more than C$1.60 per SV Share) based on all tenders validly deposited and not properly withdrawn pursuant to the Offer that will allow it to purchase the maximum number of SV Shares tendered to the Offer, having an aggregate purchase price not exceeding C$20,000,000.

The Corporation anticipates that the Offer will commence within the next week and will expire on January 11, 2021.

“This Offer is the next step towards the ongoing streamlining of our capital structure and is consistent with our goal of returning excess capital to shareholders when appropriate,” said Jonathan Goodman, President and CEO. “We are in a very strong financial position which allows us to proceed with this Offer, while maintaining a strong balance sheet and the financial flexibility needed to fund our strategic growth plan that is focused on the mining industry.”  

“Since I rejoined Dundee in early 2018, we have taken significant steps to lower our cost structure, reduce overall cash outflows, and decrease general and administrative expenses at the head office,” added Mr. Goodman. “Looking ahead, we wish to strike a balance to ensure we have sufficient capital to fund our investment in the mining strategy which we believe can deliver superior returns over the long-term, while returning capital to shareholders periodically in a prudent manner.”

“Earlier in 2020 we were able to retire approximately $49 million principal amount of our Cumulative 5-Year Rate Reset First Preference Shares, Series 2 for approximately $38.4 million,” said Robert Sellars, Executive Vice President and Chief Financial Officer. “That transaction was accretive to the Corporation and we believe that the Offer is similarly accretive to the Corporation, while providing liquidity to shareholders who wish to tender. The size of the Offer allows the Corporation to maintain a sufficient cash balance for future investment and ongoing general and administrative expenses and, as we continue to monetize legacy assets, we expect that the Corporation will enjoy even greater financial flexibility.”

Beginning in early 2018, the Corporation has focused on the implementation of its strategy of rationalizing its portfolio of investments and monetizing non-core assets as it exits business lines which are no longer deemed to be aligned with its longer-term mining-focused strategy. As part of this process, the Corporation has taken significant steps to streamline its capital structure and strengthen its balance sheet, most notably the monetization of its holdings in Dundee Precious Metals Inc. initiated in May 2020, and the acquisition and cancellation of approximately C$38.4 million of our Cumulative 5-Year Rate Reset First Preference Shares, Series 2 under our substantial issuer bid completed in September 2020.

In line with the Corporation’s longer-term strategy and commitment to creating value for the Corporation, the Board believes that the purchase of SV Shares under the Offer represents an attractive investment opportunity for Dundee and will be welcomed by certain holders of SV Shares who may wish to reduce their share ownership positions.

Additional Details of the Offer

If the Purchase Price is determined to be C$1.40 per SV Share (which is the minimum Purchase Price under the Offer), the maximum number of SV Shares that may be purchased by the Corporation under the Offer is 14,285,714 SV Shares, which represents approximately 14.3% of the SV Shares issued and outstanding as at November 20, 2020. If the Purchase Price is determined to be C$1.60 per SV Share (which is the maximum Purchase Price under the Offer), the maximum number of SV Shares that may be purchased by the Corporation under the Offer is 12,500,000 SV Shares, which represents approximately 12.5% of the SV Shares issued and outstanding as at November 20, 2020.

If SV Shares with an aggregate purchase price of more than C$20,000,000 are properly tendered and not properly withdrawn, the Corporation will purchase the SV Shares on a pro rata basis after giving effect to “odd lot” tenders (of holders beneficially owning fewer than 100 SV Shares), which will not be subject to pro-ration. In that case, all SV Shares tendered at or below the finally determined Purchase Price will be purchased, subject to pro-ration, at the same Purchase Price determined pursuant to the terms of the Offer. SV Shares that are not purchased, including all SV Shares tendered pursuant to auction tenders at prices above the Purchase Price, will be returned to shareholders.

The Offer and all deposits of SV Shares will be subject to the terms and conditions set forth in an offer to purchase, an accompanying issuer bid circular and a related letter of transmittal and notice of guaranteed delivery (all such documents, as amended or supplemented from time to time, collectively constitute and are herein referred to as, the “Offer Documents”). Further details of the Offer, including the terms and conditions thereof and instructions for tendering SV Shares, will be included in the Offer Documents. The Corporation anticipates that the Offer Documents will be mailed to shareholders, filed with the applicable Canadian securities regulatory authorities and made available without charge on SEDAR at www.sedar.com in accordance with applicable securities laws, as well as being posted on the Corporation’s website at www.dundeecorp.com, within the next week.

As at November 20, 2020, the Corporation had 99,977,913 SV Shares issued and outstanding. The SV Shares are listed and posted for trading on the Toronto Stock Exchange (the “TSX”) under the symbol “DC.A”. On November 20, 2020, the last full trading day prior to the day the terms of the Offer were publicly announced, the closing price of the SV Shares on the TSX was C$1.43.

The Corporation expects to fund any purchases of SV Shares under the Offer using the Corporation’s available cash on hand. All SV Shares purchased by the Corporation under the Offer will be cancelled.

The Offer is not conditional upon any minimum number of SV Shares being deposited. However, the Offer will be subject to certain conditions that are customary for transactions of this nature, all of which will be disclosed in the Offer Documents.

Dundee has retained RBC Dominion Securities Inc. (“RBC”) to act as financial advisor, Cassels Brock & Blackwell LLP (“Cassels”) to act as legal counsel and appointed Computershare Investor Services Inc. (the “Depositary”) to act as depositary for the Offer. Any questions or requests for information or assistance regarding the Offer may be directed to the Depositary at the contact details set out in the Offer Documents.

This news release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any SV Shares. The solicitation and the offer to buy SV Shares will only be made pursuant to the Offer Documents filed with the Canadian securities regulatory authorities. The Offer will not be made to, nor will deposits be accepted from or on behalf of, shareholders in any jurisdiction in which the making or acceptance of the Offer would not be in compliance with the laws of any such jurisdiction. However, Dundee
may, in its sole discretion, take such action as it may deem necessary to make the Offer in any such jurisdiction and to extend the Offer to shareholders in any such jurisdiction.

The Board has authorized and approved the Offer. However, none of Dundee, the Board, RBC, Cassels, or the Depositary makes any recommendation to any shareholder as to whether to deposit or refrain from depositing any or all of such shareholder’s SV Shares pursuant to the Offer or as to the purchase price or purchase prices at which shareholders may deposit SV Shares to the Offer. Shareholders are strongly urged to carefully review and evaluate all information provided in the Offer Documents, to consult with their own financial, legal, investment, tax and other professional advisors and to make their own decisions as to whether to deposit SV Shares under the Offer and, if so, how many SV Shares to deposit and the price or prices at which to deposit.

ABOUT DUNDEE CORPORATION

Dundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these key areas, as well as other select investments in both publicly listed and private enterprises.

FOR FURTHER INFORMATION PLEASE CONTACT:

John Vincic
Investor and Media Relations for Dundee Corporation
Vincic Advisors
T: (647) 402-6375
E: [email protected]

Forward-Looking Statements

Forward-looking statements are included in this news release. These forward-looking statements are identified by the use of terms such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and “should” and similar terms and phrases, including references to assumptions. Such statements may involve but are not limited to, Dundee’s plans, objectives, expectations and intentions, including Dundee’s objectives and expectations regarding the Offer and the size, timing and terms and conditions of the Offer, the anticipated mailing date of the Offer Documents and commencement date of the Offer, the expectation that the Corporation will enjoy even greater financial flexibility as it continues to monetize legacy assets, and other comments with respect to strategies, expectations, planned operations or future actions. Forward-looking statements, by their nature, are based on assumptions and are subject to important risks and uncertainties. Any forecasts, predictions or forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business and its corporate structure. Results indicated in forward-looking statements may differ materially from actual results for a number of reasons. The forward-looking statements contained herein are subject to change. However, Dundee disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

NOIDA, India and JOHNS CREEK, Ga., Nov. 23, 2020 (GLOBE NEWSWIRE) — EbixCash, a fully-owned subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries, today announced that it has acquired a 70 percent stake in a 1,800 person, pan-India based BPO company AssureEdge Global Services.

AssureEdge is today recognized as the first independent customer retention and customer response organization in India, with a vareiety of BPO offerings via six contact centers across the country. AssureEdge serves a number of industries and clients that have cross-selling value for EbixCash services. AssureEdge focuses on top priority areas like sales, fulfillment and customer retention for its clients. The Company today services 34+ large corporate clients, including some very well known names in the BFSI, telecom, entertainment and ecommerce sectors. For more information, visit the Company’s website at https://www.assureedgeglobal.com

Based on client commitments, AssureEdge is presently committed to growing its employee strength to 2,500 by the end of March 2021. The Company presently has a strong focus on growing its Human Resource Outsouring (HRO) and Last Mile Delivery (LMD) verticals, and is targeting 35% to 50% organic growth in the year 2021. AssureEdge presently generates approximately 30% EBITDA margins.

AssureEdge CEO and Founder Bhupesh Tambe will continue to lead the Company with a 30 percent stake in the venture. A proven leader with global experience of over 30 years and specializing in rapid growth and turnaround opportunities, Bhupesh will be immediately focusing his energies on AssureEdge integration into EbixCash, the immediate growth opportunities and the synergies offered by the integration. As a part of empowering AssureEdge, the Company will be rebranded as EbixCash Global BPO services.

Robin Raina, Chairman of the Board, President & CEO, Ebix, said: “AssureEdge can serve to handle fulfillment, collections and last mile delivery for EbixCash, as we converge it with our EbixCash financial and insurance technology platforms. We see AssureEdge serving our pre-sales and post-sales support for the BSE Ebix insurance platform, besides helping us provide an end-to-end fulfillment solution to banks on our lending, wealth management, asset management and credit card processing solutions for banks and financial institutions.”

About EbixCash and Ebix, Inc.

With a “Phygital” strategy that combines 320,000 physical distribution outlets in many Southeast Asian Nations (“ASEAN”) countries, to an Omni-channel online digital platform, the Company’s EbixCash Financial exchange portfolio encompasses leadership in areas of domestic & international money remittance, foreign exchange (Forex), travel, pre-paid & gift cards, utility payments, lending, wealth management etc. in India and other markets. EbixCash’s Forex operations have emerged as a leader in India’s airport Foreign Exchange business with operations in 32 international airports including Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata, conducting over $4.8 billion in gross transaction value per year. EbixCash’s inward remittance business in India conducts approx. $6.5 billion gross annual remittance business, confirming its undisputed leadership position in India. EbixCash, through its travel portfolio of Via and Mercury, is also one of Southeast Asia’s leading travel exchanges with over 2,200+ employees, 212,450+ agent network, 25 branches and over 9,800 corporate clients; processing an estimated $2.5 billion in gross merchandise value per year. For more information, visit the Company’s website at www.ebixcash.com

With 50+ offices across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. In the Insurance sector, Ebix’s main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service (“SaaS”) enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administration and risk compliance services, around the world. For more information, visit the Company’s website at www.ebix.com

Contact details:

Darren Joseph

[email protected] or 678 281 2027

David Collins or Chris Eddy

Catalyst Global – 212-924-9800 or [email protected]

TORONTO, Nov. 23, 2020 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR) is pleased to announce that it has successfully renegotiated its option agreement for the purchase of a 100% interest in the saleable assets at the Bunker Hill Mine complex from Placer Mining Corporation (the “Lessor”). Under the new terms, the purchase price has been decreased by 30% from USD11.0 million to USD7.7 million.

Sam Ash, CEO of Bunker Hill Mining, stated:
“We are very pleased to have successfully negotiated a lower purchase price for the option agreement as it allows us to further focus our efforts on the ongoing high-grade silver exploration campaign and the mining restart plan. Under the terms of the agreement, we will be able to continue to explore, finalize the studies, and restart mining activities before being required to exercise the purchase option in August 2022. This offers a unique opportunity to optimize our working capital requirements and focus our balance sheet on the development of the asset.

Our
silver-focused exploration program
is continuing to progress well and we are excited to publish drill results in the upcoming weeks. We have recently
completed
6,000
feet of drilling from surface
and are now
moving
the
drill
rigs to
underground
platforms
to avoid any winter-related delays.
”

Bunker Hill Mining’s option agreement expires on August 1, 2022. Under the new terms of the amended agreement, the total consideration has been reduced by 30% to USD7.7 million, consisting of USD5.4 million payable in cash and USD 2.0 million in shares of the Company. The reference price for the payment in shares will be based on the share price of the last equity raise before the option is exercised. The Company will continue to make a monthly care and maintenance payment of USD60,000 to the Lessor in return for on-going technical support to the Company. Under the amended agreement, the Company’s contingent obligation to settle USD1.8 million of accrued payments due to the Lessor, if the Company decides not to exercise its right to purchase, has been waived. Under the amended agreement, the Company is to make an advance payment of USD2.0 million to the Lessor which shall be credited toward the purchase price of the Bunker Hill Mine when the Company elects to exercise its purchase right.

About Bunker Hill Mining Corp.

Bunker Hill Mining Corp. has an option to acquire 100% of all saleable assets at the Bunker Hill Mine. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR databases.

For additional information contact:

Sam Ash, President and Chief Executive Officer
+1 208 786 6999
[email protected]

Cautionary Statements

Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains; failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; risks of
not
basing a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, resulting in increased uncertainty due to multiple technical and economic risks of failure which are associated with this production decision including, among others, areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts 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, including increased risks associated with developing a commercially mineable deposit with no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved. Failure to commence production would have a material adverse impact on the Company’s ability to generate revenue and cash flow to fund operations. Failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the ability of the Company to complete the payments
to the Lessor and the U.S. EPA
pursuant to the terms of the agreement to acquire the Bunker Hill Mine Complex; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been disclosed in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (“SEC”), and resource and reserve information contained in this press release may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term “resource” does not equate to the term “reserves”. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC’s disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. U.S. investors should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Investors are cautioned not to assume that all or any part of an “inferred mineral resource” exists or is economically or legally mineable. Disclosure of
“contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for disclosure of “reserves” are also not the same as those of the SEC, and reserves disclosed by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC standards. Accordingly, information concerning mineral deposits contained in our website may not be comparable with information made public by companies that report in accordance with U.S. standards.

LONDON and REDWOOD CITY, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) — Mereo BioPharma Group plc (NASDAQ: MREO, AIM: MPH) (“Mereo” or “the Company”), a clinical stage biopharmaceutical company focused on oncology and rare diseases, today announces the appointment of Suba Krishnan, M.D. as Senior Vice President of Clinical Development, effective December 7, 2020. Dr. Krishnan joins Mereo with more than 20 years of experience, encompassing early and late stage immuno-oncology drug development, academia and clinical practice.

Dr. Denise Scots-Knight, Chief Executive Officer of Mereo commented, “We are thrilled to have Dr. Krishnan join Mereo as SVP of Clinical Development. Having spent the past 10 years in immuno-oncology in the solid tumor space, we believe that her experience will prove invaluable as we continue to progress etigilimab through the clinic. With the addition of Dr. Krishnan to our team, Mereo is even better positioned to continue advancing the etigilimab program.”

Dr. Krishnan joins Mereo from Genmab, where she was the Global Program Head of Immuno-Oncology, overseeing clinical strategy and development of the Company’s solid tumor immuno-oncology programs. Prior to Genmab, Dr. Krishnan was a senior principal scientist at Merck, where she served as the clinical lead for Merck’s Phase 2 Lynparza monotherapy basket study in HRRm-HRD positive advanced solid tumors. Previously, Dr. Krishnan held clinical leadership roles at MedImmune, Bristol-Myers Squibb, Shire and Sangart, where she worked on multiple novel immuno-oncology candidates as well as hematology programs. At Bristol-Myers Squibb, Suba was Clinical Lead on multiple Phase 2 and Phase 3 studies for Nivolumab including the Phase 3 registration trial in second line metastatic bladder cancer.

In addition to her industry work, Dr. Krishnan has spent over 10 years in academia, most recently as Assistant Professor, Division of Pediatric Hematology Research at the Thomas Jefferson University in Philadelphia, PA. She has authored or co-authored numerous publications in various peer-reviewed journals and had more than 20 poster presentations and abstracts accepted to major medical conferences including ASCO, SITC, ASH and ESMO. Dr. Krishnan completed her Bachelor of Medicine and Bachelor of Surgery at the Armed Forces Medical College, Pune University in Pune, India, and completed fellowship training in Pediatric Hematology/Oncology at Columbia University, New York and conducted post-doctoral research at Weill Medical College of Cornell University.

“I am honored to join Mereo at such an important stage in the development of etigilimab.” commented Dr. Krishnan. I look forward to helping the Company to continue advancing this promising anti-TIGIT therapeutic candidate, and in supporting the development of other potentially life-saving therapies in areas of unmet medical need.”

About Mereo
BioPharma


Mereo


BioPharma
 is a biopharmaceutical company focused on the development and commercialization of innovative therapeutics that aim to improve outcomes for oncology and rare diseases. Mereo’s lead oncology product candidate, etigilimab (Anti-TIGIT), has completed a Phase 1a dose escalation clinical trial in patients with advanced solid tumors and has been evaluated in a Phase 1b study in combination with nivolumab in select tumor types. The company recently announced initiation of a Phase 1b/2 study of etigilimab in combination with an anti-PD-1/PDL-1 in a range of different tumor types. Mereo’s rare disease product portfolio consists of setrusumab, which has completed a Phase 2b dose-ranging study in adults with osteogenesis imperfecta (OI), as well as alvelestat, which is being investigated in a Phase 2 proof-of-concept clinical trial in patients with alpha-1 antitrypsin deficiency (AATD) and in a Phase 1b/2 clinical trial in COVID-19 respiratory disease.

Forward-Looking Statements

This Announcement contains “forward-looking statements.” All statements other than statements of historical fact contained in this Announcement are forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of our operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that it anticipates.

All of the Company’s forward-looking statements involve known and unknown risks and uncertainties some of which are significant or beyond its control and involve assumptions that could cause actual results to differ materially from the Company’s historical experience and its present expectations or projections. 

These forward-looking statements are subject to risks and uncertainties, including, among other things, those described in the Company’s latest Annual Report on Form 20-F, Reports on Form 6-K and other documents filed from time to time by the Company with the United States Securities and Exchange Commission. The Company wishes to caution investors not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.

Mereo
BioPharma
Contacts: