Market Newsdesk

HOUSTON, April 6, 2021 /PRNewswire/ — Oxy Low Carbon Ventures (OLCV), a subsidiary of Occidental (NYSE: OXY), and bio-engineering startup Cemvita Factory today announced a plan to construct and operate a one metric ton per month bio-ethylene pilot plant, applying a jointly developed technology using human-made carbon dioxide (CO₂) instead of hydrocarbon-sourced feedstocks.

The pilot project will scale up the process that was successful in laboratory tests, which showed the OLCV-Cemvita technology is competitive with hydrocarbon-sourced ethylene processes. Ethylene is widely used in the chemical industry, primarily as a precursor to polymers for use in items like durable, long-life products. Start-up of the pilot plant is expected in 2022.

“This technology could provide an opportunity to offer a new, non-hydrocarbon-sourced ethylene product to the market, reducing carbon emissions, and in the future benefit our affiliate, OxyChem, which is a large producer and consumer of ethylene in its chlorovinyls business,” said Dr. Robert Zeller, Vice President of Technology for OLCV. 

“Today bio-ethylene is made from bio-ethanol, which is made from sugarcane, which in turn was created by photosynthesizing CO₂. Our bio-synthetic process simply requires CO₂, water and light to produce bio-ethylene, and that’s why it saves a lot of cost and carbon emissions,” stated Moji Karimi, co-founder and CEO of Cemvita Factory. “This project is a great example of how Cemvita is applying industrial-strength synthetic biology to help our clients lower their carbon footprint while creating new revenue streams.”

“Nature provided the inspiration,” noted Dr. Tara Karimi, co-founder and CTO of Cemvita Factory. “We took a gene from a banana and genetically engineered it into our CO₂-utilizing host microorganism. We are now significantly increasing its productivity with the goal to achieve commercial metrics that we have defined alongside OLCV.”

In 2019, OLCV made an investment in Cemvita Factory to jointly explore how the advances in synthetic biology can be utilized to provide sustainable pathways for the bio-manufacturing of OxyChem’s products. This strategic partnership is yielding new innovations that hold promise to decarbonize and transform the chemical industry to create a sustainable future.

About Oxy Low Carbon Ventures
Oxy Low Carbon Ventures, LLC (OLCV) is a subsidiary of Occidental, an international energy company with assets in the United States, Middle East, Africa and Latin America. OLCV is focused on advancing cutting-edge, low-carbon technologies and business solutions that enhance Occidental’s business while reducing emissions. OLCV also invests in the development of low-carbon fuels and products, as well as sequestration services to support carbon capture projects globally. Visit www.oxylowcarbon.com for more information.

About Cemvita Factory
Cemvita Factory, Inc, is on a mission to create a sustainable future by transforming CO₂ into value-added products. This conversion platform leverages the biomimicry of natural processes to sustainably produce chemicals and polymers. Additionally, Cemvita’s biotech platform is also used to develop and optimize low carbon bioprocesses for Heavy Industry such as mining and oil and gas. Visit www.cemvitafactory.com for more information.

Cautionary Statement Regarding Forward-Looking Statements
Statements in this release relating to expectations, beliefs, plans or forecasts are forward-looking statements. These statements are typically identified by words such as “potential,” “will,” “would,” “should,” “may,” “plan,” “anticipate,” “believe,” “expect,” “ambition,” “effort” or similar expressions that convey the prospective nature of events or outcomes. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Actual results may differ from anticipated results, sometimes materially, and reported or expected results should not be considered an indication of future performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. Unless legally required, Occidental does not undertake any obligation to update any forward-looking statements, as a result of new information, future events or otherwise. Material risks that may affect the results of Occidental and its subsidiaries appear in Part I, Item 1A “Risk Factors” of Occidental’s Annual Report on Form 10-K for the year ended December 31, 2020, and in Occidental’s other filings with the SEC.

 

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SOURCE Oxy Low Carbon Ventures

NEW YORK, April 6, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Ebix, Inc. (“Ebix” or the “Company”)(NASDAQ: EBIX).  Such investors are advised to contact Robert S. Willoughby at  [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Ebix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

On February 19, 2021, post-market, Ebix revealed that its independent auditor, RSM US LLP (“RSM”), had resigned “as a result of being unable, despite repeated inquiries, to obtain sufficient appropriate audit evidence that would allow it to evaluate the business purpose of significant unusual transactions that occurred in the fourth quarter of 2020” related to the Company’s gift card business in India.  RSM had also stated that there was a material weakness related to Ebix’s failure to design controls “over the gift or prepaid card revenue transaction cycle sufficient to prevent or detect a material misstatement.”  Also, Ebix and RSM disagreed over the accounting treatment of $30 million that had been transferred into a commingled trust account of Ebix’s outside legal counsel in December 2020.

On this news, Ebix’s stock price fell $20.24 per share, or 39.89%, to close at $30.50 per share on February 22, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:

Robert S. Willoughby

Pomerantz LLP
[email protected]

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SOURCE Pomerantz LLP

LAKE OSWEGO, Ore., April 6, 2021 /PRNewswire/ — The Greenbrier Companies, Inc. (NYSE: GBX) (“Greenbrier”), a leading international supplier of equipment and services to global freight transportation markets, today reported financial results for its second fiscal quarter ended February 28, 2021.

Second Quarter Highlights

• New railcar orders for 3,800 units valued at over $440 million during the quarter. Deliveries in the quarter were 2,100 units, a 1.8x book-to-bill.
• Diversified new railcar backlog as of February 28, 2021 was 24,900 units with an estimated value of $2.5 billion.
• Immediate liquidity of $708 million, includes $593 million in cash and $115 million of available borrowing capacity.  Combined with nearly $100 million of liquidity initiatives in progress totals over $800 million.
• Operating cash flow in the quarter included inventory accumulation of $48 million to support manufacturing production increases beginning in fiscal Q3 and a $44 million increase in leased railcars for syndication.
• COVID-19 related expenses for the quarter were $2.5 million (pre-tax) and $6.4 million (pre-tax) for the first half of fiscal 2021.
• Net loss attributable to Greenbrier for the quarter was $9 million, or $0.28 per diluted share, on revenue of $296 million.  The net loss included $16 million in anticipated federal income tax benefit resulting from loss carryback provisions.
• Adjusted EBITDA for the quarter was negative $1 million.
• Subsequent to quarter-end, completed the earlier announced formation of GBX Leasing joint venture, including initial funding of nearly $100 million from a new $300 million non-recourse railcar warehouse credit facility.
• Board declares a quarterly dividend of $0.27 per share, payable on May 12, 2021 to shareholders as of April 21, 2021 representing Greenbrier’s 28^th consecutive quarterly dividend.

William A. Furman, Chairman & CEO commented, “Greenbrier navigated what we expect will be our most challenging quarter of the fiscal year.  Operating challenges emerged from a range of sources, including winter weather, impacting deliveries and production.  Our near-term outlook is becoming increasingly optimistic as rail fundamentals improve.  Rail loadings are up year-to-date, driven by increased traffic in grain, intermodal and other categories.  Railroad velocity has slowed by nearly two miles per hour. Railcars in storage have decreased by more than 148,000 units from the 2020 peak storage level.  Proposed environmental and other regulations in both North America and Europe should support secular demand for rail as a growing mode for freight transport. Fiscal stimulus and proposed infrastructure legislation are expected to further add to demand.”

Furman concluded, “Greenbrier is well-positioned for an economic recovery. Our pipeline of new business inquiries in North America has expanded dramatically in the last 30 days. Greenbrier’s ability to adjust production capacity to meet our market outlook enables us to rapidly ramp manufacturing as we earn new railcar orders.  We have already restarted several production lines supported by firm orders to meet increased demand.”

Business Update & Outlook

Greenbrier has practiced disciplined management to meet the realities of this historic time.  Our core strategy since March 2020 has been and continues to be:

1. Maintain a strong liquidity base and balance sheet
2. Navigate the COVID-19 pandemic and the related economic crisis by safely operating our factories while generating cash
3. Prepare for emerging economic recovery and forward momentum in our markets, which we expect to expand during the latter half of calendar 2021. Greenbrier is currently operating in this phase.

Looking ahead, Greenbrier expects the second half of fiscal 2021 to be stronger than the first half, reflecting increased production rates and stronger activity across the business.  Greenbrier’s ability to achieve more than $700 million of total liquidity, with another $100 million of initiatives in process, allows us to weather unanticipated setbacks in the emerging economic recovery. Our $2.5 billion backlog provides a baseload of orders to support continuous production lines.  These factors position us to deploy our balance sheet opportunistically, as we have done with GBX Leasing.  The recently-announced joint venture complements Greenbrier’s existing commercial platform and will create stable, tax-advantaged cash flows, reducing our exposure to the new railcar order and delivery cycle.

Financial Summary

Segment Summary

Conference Call

Greenbrier will host a teleconference to discuss its second quarter 2021 results. In conjunction with this news release, Greenbrier has posted a supplemental earnings presentation to our website. 

Teleconference details are as follows:

• April 6, 2021
• 8:00 a.m. Pacific Daylight Time
• Phone: 1-888-317-6003 (Toll Free) 1-412-317-6061 (International), Entry Number “7592105”
• Real-time Audio Access:  (“Newsroom” at http://www.gbrx.com)

Please access the site 10 minutes prior to the start time. 

About Greenbrier

Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Greenbrier designs, builds and markets freight railcars and marine barges in North America. Greenbrier Europe is an end-to-end freight railcar manufacturing, engineering and repair business with operations in Poland, Romania and Turkey that serves customers across Europe and in the nations of the Gulf Cooperation Council. Greenbrier builds freight railcars and rail castings in Brazil through two separate strategic partnerships. We are a leading provider of freight railcar wheel services, parts, repair, refurbishment and retrofitting services in North America through our wheels, repair & parts business unit.  Greenbrier offers railcar management, regulatory compliance services and leasing services to railroads and related transportation industries in North America. Through unconsolidated joint ventures, we produce industrial and rail castings, and other components. Greenbrier owns a lease fleet of 8,700 railcars and performs management services for 445,000 railcars. Learn more about Greenbrier at www.gbrx.com.  

 

 

 

 

 

 

 

 

 

“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:  This press release may contain forward-looking statements, including any statements that are not purely statements of historical fact. Greenbrier uses words, and variations of words, such as  “adjust,” “become,” “continue,” “expect,” “maintain,” “outlook,” “position,” “should,” “will,” and similar expressions to identify forward-looking statements. These forward-looking statements include, without limitation, statements about backlog, and future liquidity and cash flow as well as other information regarding future performance and strategies and appear throughout this press release including in the headlines and the section “Business Update & Outlook.” These forward-looking statements are not guarantees of future performance and are subject to certain risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements. Factors that might cause such a difference include, but are not limited to, the following. (1) We are unable to predict when, how, or with what magnitude COVID-19 governmental reaction to the pandemic, and related economic disruptions will negatively impact our business: we may be prevented from operating our facilities; the operations of our customers may be disrupted increasing the likelihood that our customers may attempt to delay, defer or cancel orders,  or cease to operate as going concerns; the operations of our suppliers may be disrupted; our indebtedness may increase; we may breach the covenants in our credit agreement; the market price of our common stock may drop or remain volatile; we may incur significant employee health care costs under our self-insurance programs. The longer the pandemic continues, the more likely that negative impacts on our business will occur, some of which we cannot now foresee. (2) Our backlog of railcar units and marine vessels is not necessarily indicative of future results of operations. Certain orders in backlog are subject to customary documentation which may not occur. Customers may attempt to cancel or modify orders or refuse to accept and pay for products. The likelihood of cancellations, modifications, rejection and non-payment for our products generally increases during periods of market weakness. The timing of converting backlog to revenue is also materially impacted by our decision whether to lease railcars, sell railcars, or syndicate railcars with a lease attached to an investor. (3) Our joint ventures, including our leasing joint venture, may not perform as anticipated or expected. More information on potential factors that could cause our results to differ from our forward-looking statements is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic report on Form 10-K and subsequent report on 10-Q. Except as otherwise required by law, the Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s opinions only as of the date hereof.

Adjusted Financial Metric Definitions

Adjusted EBITDA, Adjusted net earnings (loss) attributable to Greenbrier and Adjusted diluted EPS are not financial measures under generally accepted accounting principles (GAAP). These metrics are performance measurement tools used by rail supply companies and Greenbrier. You should not consider these metrics in isolation or as a substitute for other financial statement data determined in accordance with GAAP. In addition, because these metrics are not a measure of financial performance under GAAP and are susceptible to varying calculations, the measures presented may differ from and may not be comparable to similarly titled measures used by other companies.

We define Adjusted EBITDA as Net earnings (loss) before Interest and foreign exchange, Income tax benefit (expense), Depreciation and amortization and excluding the impact associated with items we do not believe are indicative of our core business or which affect comparability. We believe the presentation of Adjusted EBITDA provides useful information as it excludes the impact of financing, foreign exchange, income taxes and the accounting effects of capital spending. These items may vary for different companies for reasons unrelated to the overall operating performance of a company’s core business. We believe this assists in comparing our performance across reporting periods.

Adjusted net earnings (loss) attributable to Greenbrier and Adjusted diluted EPS excludes the impact associated with items we do not believe are indicative of our core business or which affect comparability. We believe this assists in comparing our performance across reporting periods.

 

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SOURCE The Greenbrier Companies, Inc.

EMERYVILLE, Calif., April 6, 2021 /PRNewswire/ — Dynavax Technologies Corporation (Nasdaq: DVAX), a biopharmaceutical company focused on developing and commercializing novel vaccines, today announced that Valneva SE reported positive initial results for Part A of the Phase 1/2 clinical trial of Valneva’s inactivated COVID-19 vaccine candidate, VLA2001, using Dynavax’s  CpG 1018™ adjuvant in 153 healthy adults aged 18 to 55 years. Based on these results, Valneva plans to commence a pivotal Phase 3 clinical trial by the end of April 2021, subject to regulatory approval.

In their press release issued April 6th, 2021 (available here), Valneva reported that VLA2001 was generally safe and well tolerated across all dose groups tested and was highly immunogenic with a seroconversion rate for S-protein binding IgG antibodies of 100% in the high dose group. The IgG antibody response was highly correlated with neutralization titers in a micro-neutralization assay.  The geometric mean titer of neutralizing antibodies measured two weeks after completion of the two-dose schedule in this group was at or above levels for a panel of convalescent sera.  

Ryan Spencer
, Chief Executive Officer Dynavax, said, “We are excited to see the positive results Valneva has generated with their inactivated vaccine using Dynavax’s CpG 1018 adjuvant. We believe the effect delivered by our CpG 1018 adjuvant combined with Valneva’s existing manufacturing process for whole virus inactivated vaccines will result in an important option in the global fight against COVID-19. This platform has potential to allow rapid modifications to the vaccine as needed to address variants using Valneva’s existing manufacturing process.”

Valneva plans to initiate a pivotal, comparative immunogenicity Phase 3 clinical trial with the high dose formulation by the end of April 2021. Other trials, including booster trials, involving antigen sparing doses will also be evaluated.

About VLA2001
VLA2001 is intended for active immunization of at-risk populations to prevent carriage and symptomatic infection with COVID-19 during the ongoing pandemic and potentially later for routine vaccination including addressing new variants. VLA2001 is produced on Valneva’s established Vero-cell platform, leveraging the manufacturing technology for Valneva’s licensed Japanese encephalitis vaccine, IXIARO^®. VLA2001 consists of inactivated whole virus particles of SARS-CoV-2 with high S-protein density, in combination with two adjuvants, alum and CpG 1018. The process includes inactivation with BPL to preserve the native structure of the S-protein. Valneva expects VLA2001 to conform with standard cold chain requirements (2 degrees to 8 degrees Celsius).

About CpG 1018 Adjuvant
CpG 1018 adjuvant is used in HEPLISAV-B® [Hepatitis B Vaccine (Recombinant), Adjuvanted], an adult hepatitis B vaccine approved by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency. Dynavax developed CpG 1018 adjuvant to provide an increased vaccine immune response, which has been demonstrated in HEPLISAV-B. CpG 1018 adjuvant provides a well-developed technology and a significant safety database, potentially accelerating the development and large-scale manufacturing of a COVID-19 vaccine.

About Dynavax
Dynavax is a commercial stage biopharmaceutical company developing and commercializing novel vaccines. The Company’s first commercial product, HEPLISAV-B® [Hepatitis B Vaccine (Recombinant), Adjuvanted], is approved in the U.S. and Europe for prevention of infection caused by all known subtypes of hepatitis B virus in adults age 18 years and older. Dynavax is also advancing its CpG 1018 adjuvant as a premier vaccine adjuvant through research collaborations and partnerships. Current collaborations are focused on adjuvanted vaccines for COVID-19, pertussis and universal influenza. For more information, visit www.dynavax.com and follow the company on LinkedIn.

Dynavax Forward-Looking Statements
This press release contains “forward-looking” statements, including statements regarding the potential development (including the timing for a Phase 3 clinical trial and regulatory submission) and importance of a COVID-19 vaccine containing CpG 1018 adjuvant, the potential of the platform to address variants, and the evaluation of other trials.  Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in vaccine research and development, including the timing of completing development, dose selection, the results of clinical trials, whether and when the vaccine containing CpG 1018 adjuvant will be approved for use, whether and when purchases of CpG 1018 adjuvant will occur, and the ability to manufacture sufficient supply to meet the purchasing needs, as well as other risks detailed in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 as well as discussions of potential risks, uncertainties and other important factors in our other filings with the U.S. Securities and Exchange Commission. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. Information on Dynavax’s website at www.dynavax.com is not incorporated by reference in our current periodic reports with the SEC.

Dynavax Contacts:

Nicole Arndt, Senior Manager, Investor Relations
[email protected]
510-665-7264

Derek Cole, President
Investor Relations Advisory Solutions
[email protected]

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SOURCE Dynavax Technologies

NYSE American Symbol – UEC

CORPUS CHRISTI, Texas, April 6, 2021 /PRNewswire/ – Uranium Energy Corp (NYSE American: UEC) (the “Company” or “UEC”) is pleased to report that it has now secured an additional 705,000 pounds of U.S. warehoused uranium, with delivery dates out to December 2022.

Including the previously announced contracts to acquire 1,400,000 pounds of uranium concentrates, UEC has now entered into additional purchase contracts for a total of 2,105,000 pounds of U₃O₈ at a volume weighted average price of ~$30 per pound.

The Company is also pleased to announce that it has entered into definitive agreements with institutional investors to purchase an aggregate of 3,636,364 common shares of the Company (each, a “Share”) at a purchase price of $3.30 per Share and for gross proceeds of approximately $12,000,000 in a registered direct offering (the “Offering”).  The closing of the Offering is expected to occur on or about April 8, 2021, subject to satisfaction of customary closing conditions.

Following the closing of the Offering and delivery of contracted drummed uranium, UEC will have more than $110 million of cash, equity and inventory holdings.

As previously disclosed, UEC’s physical uranium initiative will support three objectives: 1) strengthens the Company’s balance sheet as uranium prices appreciate; 2) provides strategic inventory to support future marketing efforts with utilities that could complement production and accelerate cashflows; and 3) increases the availability of UEC’s Texas and Wyoming production capacity to pursue specific opportunities for uranium of U.S. origin; which may command premium pricing due to the scarcity of domestic uranium production. 

The Company anticipates that the net proceeds from the Offering will be used for additional uranium purchases and for general corporate and working capital purposes.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the Offering.

The Shares are being offered by the Company pursuant to the Company’s effective shelf registration statement on Form S-3 (File No. 333-236571) previously filed with the United States Securities and Exchange Commission (the “SEC”) and became effective March 3, 2020.  The Offering is being made only by means of a prospectus supplement and accompanying prospectus that form a part of the effective shelf registration statement. A prospectus supplement and accompanying prospectus relating to the Offering will be filed by the Company with the SEC.  Electronic copies of the prospectus supplement and accompanying prospectus relating to the Offering may be obtained, when available, from the SEC’s website at http://www.sec.gov, or from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3^rd Floor, New York, NY 10022 by e-mail at:[email protected] or by telephone at: (212) 856-5711.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the 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 state or jurisdiction.  The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement, the prospectus or the Company’s shelf registration statement.

About Uranium Energy Corp

Uranium Energy Corp is a U.S.-based uranium mining and exploration company. As a leading pure-play American uranium company, UEC is advancing the next generation of low-cost and environmentally friendly In-Situ Recovery (ISR) mining uranium projects.  In South Texas, the Company’s hub-and-spoke operations are anchored by our fully-licensed Hobson Processing Facility which is central to our Palangana, Burke Hollow, Goliad and other ISR pipeline projects. In Wyoming, UEC controls the Reno Creek project, which is the largest permitted, pre-construction ISR uranium project in the U.S. Additionally, the Company’s diversified holdings provide exposure to a unique portfolio of uranium related assets, including: 1) major equity stake in the only royalty company in the sector, Uranium Royalty Corp; 2) physical uranium warehoused in the U.S.; and 3) a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay. In Paraguay, the Company owns one of the largest and highest-grade ferro-titanium deposits in the world. The Company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.

Stock Exchange Information:
NYSE American: UEC
WKN: AØJDRR
ISN: US916896103

Safe Harbor Statement

Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, market and other conditions, risks that the Offering will not be completed, failure to satisfy the conditions to closing of the Offering, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. 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 such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

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SOURCE Uranium Energy Corp

NEWARK, Calif., April 6, 2021 /PRNewswire/ — Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions designed to enhance workplace productivity, is pleased to announce our new v1.50 firmware release for the D600 NFC reader. 

When connected to an iPad, tablet or PC, the D600 can read NFC messages and cards written by a mobile phone, including QR code equivalents. The D600 supports all NFC tag types and message formats, facilitating the transition from screen-based QR codes to NFC-based tap-and-go solutions. Tap-and-go allows you to bypass the additional step of confirming personal IDs – ideal for improving throughput when user identification is required, such as boarding passes and passports. NFC tag information can be associated with a person’s identity before being transmitted to the reader for validation.

Mobile apps written with Capture SDK support all Socket Mobile products, including the D600 and the S550 desktop NFC readers. This broad support enables developers to transition from QR code reading to a combination of QR code and/or NFC tag reading. Apps designed to read NFC Forum tag messages with the D600 can read the same message (encoded in a QR Code) using a Socket Mobile 2D barcode scanner. This allows developers to focus on their app’s features and experiences without concern for compatibility across customer devices. 

All new D600 NFC readers achieve compatibility with the NFC Forum specifications—including NFC apps on iOS and Android phones.

“The D600 is designed to ensure the broadest support for all customer devices, making it easier than ever to perform virtual card interactions with Socket Mobile NFC readers. Virtualized cards in Mobile Wallets are convenient, secure, and contact-free using the consumer’s mobile device. New use cases, such as vaccine passports launched using QR codes, can be transitioned to NFC contactless implementations with the release of this new product,” says Vincent Coli, NFC Product Manager.

In addition to the D600, the S550 desktop NFC reader can support mobile passes, including Apple VAS and Google SmartTap, making it easier than ever for businesses to leverage Mobile Wallet opportunities. Socket Mobile continues to bring new and innovative solutions to its developer community so they can easily deploy NFC tag and other data capture solutions.

Socket Mobile Investor Contact:
Lynn Zhao
Chief Financial Officer
510-933-3016
[email protected]

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SOURCE Socket Mobile, Inc.

LAKE OSWEGO, Oregon, April 6, 2021 /PRNewswire/ — The Greenbrier Companies, Inc. (NYSE: GBX) (“Greenbrier”), a leading international supplier of equipment and services to global freight transportation markets, today announced that it has completed the formation of GBX Leasing, a special purpose subsidiary, to own and manage a portfolio of leased railcars primarily built by Greenbrier. 

GBX Leasing will acquire approximately $200 million per annum of newly-built and leased railcars from Greenbrier.  The initial portfolio for GBX Leasing has been identified from leased railcars on Greenbrier’s balance sheet or in its backlog. GBX Leasing will observe Greenbrier’s established, strict portfolio standards for long-term investment, including credit quality, asset diversity, balanced maturities and asset liquidity. The initial equity investment is tax-advantaged as a result of the five-year net operating loss carryback provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, bonus depreciation and the MACRS depreciation system.

GBX Leasing completed an initial funding of nearly $100 million from a new $300 million non-recourse railcar warehouse credit facility and intends to be levered by approximately 3-to-1 debt to equity.  Leased railcars will be aggregated to obtain permanent debt financing through the asset-backed securities market.  GBX Leasing will be consolidated in Greenbrier’s financial statements, and Greenbrier initially owns about 90% of GBX Leasing.  The Longwood Group, a Chicago-based transportation equipment advisory and asset management firm, will own the balance.  Longwood was formed by D. Stephen Menzies in 2018 to pursue a range of commercial investments in freight rail equipment and adjacent transportation markets. Prior to Longwood, Menzies was Senior Vice President, Trinity Industries and Group President of Trinity’s railcar leasing, manufacturing and services businesses. Under Menzies leadership, leased railcar assets under ownership or management grew to exceed $10 billion while he also held responsibility for its highly successful North American manufacturing operations.  Menzies is Chairman & CEO of GBX Leasing.

Greenbrier CEO and Chairman William A. Furman stated, “We are extremely pleased to have finalized the formation of GBX Leasing, which marks an evolution of Greenbrier’s leasing platform and our commercial and leasing strategy.  GBX Leasing creates a new annuity stream of tax-advantaged cash flows, while reducing Greenbrier’s exposure to the new railcar order and delivery cycle.  From a commercial standpoint, it is a strong complement to our integrated business model of railcar manufacturing and services that further enhances our distribution strategies to direct customers, operating lessors, industrial shippers and syndication partners.  We expect that the joint venture will help Greenbrier continue to grow its diversified customer portfolio with a focus on industrial shipper customers and small batch production to leverage long-standing customer relationships and capabilities gained through the acquisition of ARI.” 

About Greenbrier

Greenbrier, headquartered in Lake Oswego, Oregon, is a leading international supplier of equipment and services to global freight transportation markets. Greenbrier designs, builds and markets freight railcars and marine barges in North America. Greenbrier Europe is an end-to-end freight railcar manufacturing, engineering and repair business with operations in Poland, Romania and Turkey that serves customers across Europe and in the nations of the Gulf Cooperation Council. Greenbrier builds freight railcars and rail castings in Brazil through two separate strategic partnerships. We are a leading provider of freight railcar wheel services, parts, repair, refurbishment and retrofitting services in North America through our wheels, repair & parts business unit.  Greenbrier offers railcar management, regulatory compliance services and leasing services to railroads and related transportation industries in North America. Through unconsolidated joint ventures, we produce industrial and rail castings, and other components. Greenbrier owns a lease fleet of 8,700 railcars and performs management services for 445,000 railcars. Learn more about Greenbrier at www.gbrx.com.

“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:  This press release may contain forward-looking statements, including any statements that are not purely statements of historical fact. Greenbrier uses words, and variations of words, such as  “create,” “develop,” “expect,” “intend,” “reduce,” “will,” and similar expressions to identify forward-looking statements. These forward-looking statements include, without limitation, statements about expected performance and acquisitions as well as other information regarding future performance and strategies and appear throughout this press release. These forward-looking statements are not guarantees of future performance and are subject to certain risks and uncertainties that could cause actual results to differ materially from the results contemplated by the forward-looking statements. Factors that might cause such a difference include, but are not limited to, the following. (1) We are unable to predict when, how, or with what magnitude COVID-19 governmental reaction to the pandemic, and related economic disruptions will negatively impact our business: we may be prevented from operating our facilities; the operations of our customers may be disrupted increasing the likelihood that our customers may attempt to delay, defer or cancel orders,  or cease to operate as going concerns; the operations of our suppliers may be disrupted; our indebtedness may increase; we may breach the covenants in our credit agreement; the market price of our common stock may drop or remain volatile; we may incur significant employee health care costs under our self-insurance programs. The longer the pandemic continues, the more likely that negative impacts on our business will occur, some of which we cannot now foresee. (2) Our backlog of railcar units and marine vessels is not necessarily indicative of future results of operations. Certain orders in backlog are subject to customary documentation which may not occur. Customers may attempt to cancel or modify orders or refuse to accept and pay for products. The likelihood of cancellations, modifications, rejection and non-payment for our products generally increases during periods of market weakness. The timing of converting backlog to revenue is also materially impacted by our decision whether to lease railcars, sell railcars, or syndicate railcars with a lease attached to an investor. (3) Our joint ventures, including our leasing joint venture, may not perform as anticipated or expected. More information on potential factors that could cause our results to differ from our forward-looking statements is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic report on Form 10-K and subsequent report on 10-Q. Except as otherwise required by law, the Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s opinions only as of the date hereof.

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SOURCE The Greenbrier Companies, Inc.

OTTAWA, ON, April 6, 2021 /PRNewswire/ – Canadians and well-wishers across the United Kingdom can celebrate the 95^th birthday of Her Majesty Queen Elizabeth II with a special coin set featuring fine silver keepsakes crafted by both the Royal Canadian Mint and Britain’s Royal Mint. Canada’s tribute to our shared sovereign’s personal milestone consists of a pure silver coin featuring a detailed engraving of the first-ever equine statue of Queen Elizabeth, proudly displayed in Canada’s national capital.  Its British counterpart features a rich tapestry of royal iconography and floral symbols of the United Kingdom. This unique collector’s item is available as of today.

“The Mint has a time-honoured tradition of commemorating milestones in the historic reign of Queen Elizabeth II and we are proud to mark her 95^th birthday through a unique collector keepsake,” said Marie Lemay, President and CEO. “We are especially pleased to have been able to collaborate with The Royal Mint on this special project.” 

The Royal Mint’s CEO Anne Jessopp comments: “It is wonderful to work with the Royal Canadian Mint to celebrate the 95^th birthday of HRH Queen Elizabeth.  This joint set offers a beautifully crafted and unique way for collectors to mark the milestone.”

Canada’s contribution to the 2021 Two-Coin Set – A Royal Celebration features elegant imagery of Her Majesty on both sides of a 1 oz. pure silver coin.  The reverse displays a reproduction of The Queen Elizabeth II Equestrian Monument, sculpted by Canadian artist Jack Harman and unveiled in 1992 by Her Majesty on Parliament Hill in Ottawa.  This majestic monument, showing the Queen astride her horse Centenial, presently graces the entrance to Rideau Hall, the official residence of Canada’s Governor-General. The obverse is a numismatic history showcase, with fine engravings of all four effigies of Queen Elizabeth to have appeared on Canadian coins throughout her reign.

The Royal Mint recruited British heraldic artist Timothy Noad to design its pure silver coin. Its reverse, dated 1926-2021, includes the Royal Cypher, floral emblem of the nations of the United Kingdom, as well as the inscription “MY HEART AND MY DEVOTION”, from the Queen’s first televised Christmas message in 1957.  The obverse features the effigy portrait of Her Majesty the Queen by Royal Mint designer Jody Clark.  This portrait was launched in September 2015 in conjunction with Queen Elizabeth becoming Britain’s longest serving monarch.

The two-coin set, limited to a mintage of 6,500, is packaged in a black beauty box bearing the logos of both mints. The packaging includes a certificate of authenticity for each coin and a serialized card with a message from both mints.

This special collectible may be ordered as of today by contacting the Royal Canadian Mint at
1-800-267–1871 in Canada, 1-800-268–6468 in the US, or at www.mint.ca. To purchase directly from the Royal mint, visit www.royalmint.com.

The coin set is also available through the Mint’s network of authorized dealers.

Images of this coin are available here.

About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. The Mint is one of the largest and most versatile mints in the world, offering a wide range of specialized, high quality coinage products and related services on an international scale. For more information on the Mint, its products and services, visit www.mint.ca.  Follow the Mint on Twitter, Facebook and Instagram.

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SOURCE Royal Canadian Mint

HOUSTON, April 6, 2021 /PRNewswire/ — PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of March 2021, the Company had an average of 70 drilling rigs operating. For the three months ended March 31, 2021, the Company had an average of 69 drilling rigs operating.   

Average drilling rigs operating reported in the Company’s monthly announcements represent the average number of the Company’s drilling rigs that were earning revenue under a drilling contract.  The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company’s operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company’s financial performance.  The Company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.

About Patterson-UTI

Patterson-UTI is a leading provider of oilfield services and products to oil and natural gas exploration and production companies in the United States, including contract drilling, pressure pumping and directional drilling services.  For more information, visit www.patenergy.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are not limited to historical facts, but reflect Patterson-UTI’s current beliefs, expectations or intentions regarding future events.  Words such as “anticipate,” “believe,” “budgeted,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “potential,” “project,” “pursue,” “should,” “strategy,” “target,” or “will,” and similar expressions are intended to identify such forward-looking statements.  The statements in this press release that are not historical statements, including statements regarding Patterson-UTI’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws.  These statements are subject to numerous risks and uncertainties, many of which are beyond Patterson-UTI’s control, which could cause actual results to differ materially from the results expressed or implied by the statements.  These risks and uncertainties include, but are not limited to: adverse oil and natural gas industry conditions; including the rapid decline in crude oil prices as a result of economic repercussions from the COVID-19 pandemic; global economic conditions; volatility in customer spending and in oil and natural gas prices that could adversely affect demand for Patterson-UTI’s services and their associated effect on rates; excess availability of land drilling rigs, pressure pumping and directional drilling equipment, including as a result of reactivation, improvement or construction; competition and demand for Patterson-UTI’s services; strength and financial resources of competitors; utilization, margins and planned capital expenditures; liabilities from operational risks for which Patterson-UTI does not have and receive full indemnification or insurance; operating hazards attendant to the oil and natural gas business; failure by customers to pay or satisfy their contractual obligations (particularly with respect to fixed-term contracts); the ability to realize backlog; specialization of methods, equipment and services and new technologies, including the ability to develop and obtain satisfactory returns from new technology; the ability to retain management and field personnel; loss of key customers; shortages, delays in delivery, and interruptions in supply, of equipment and materials; cybersecurity events; synergies, costs and financial and operating impacts of acquisitions; difficulty in building and deploying new equipment; governmental regulation; climate legislation, regulation and other related risks; environmental, social and governance practices, including the perception thereof; environmental risks and ability to satisfy future environmental costs; technology-related disputes; legal proceedings and actions by governmental or other regulatory agencies; the ability to effectively identify and enter new markets; weather; operating costs; expansion and development trends of the oil and natural gas industry; ability to obtain insurance coverage on commercially reasonable terms; financial flexibility; interest rate volatility; adverse credit and equity market conditions; availability of capital and the ability to repay indebtedness when due; stock price volatility; and compliance with covenants under Patterson-UTI’s debt agreements.

Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in Patterson-UTI’s SEC filings.  Patterson-UTI’s filings may be obtained by contacting Patterson-UTI or the SEC or through Patterson-UTI’s website at http://www.patenergy.com or through the SEC’s Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov.  Patterson-UTI undertakes no obligation to publicly update or revise any forward-looking statement.

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SOURCE PATTERSON-UTI ENERGY, INC.