Market Newsdesk

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Fiscal Year 2020 Adjusted Total Revenue – $71.0 million –


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Fiscal Year 2020 Adjusted EBITDA – $28.4 million –


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 Blexten Canadian Prescriptions Increased 35% Year-Over-Year –


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Cambia Canadian Prescriptions Increased 17% Year-Over-Year –

Miravo to Host Conference Call/Audio Webcast March 8th at 11:00 a.m. ET

MISSISSAUGA, ON, March 8, 2021 /PRNewswire/ – Nuvo Pharmaceuticals Inc. (TSX: MRV) (OTCQX: MRVFF) d/b/a Miravo Healthcare (Miravo or the Company), a Canadian-focused healthcare company with global reach and a diversified portfolio of commercial products, today announced its financial and operational results for the three months and year ended December 31, 2020.  For further details on the results, please refer to Miravo’s Management, Discussion and Analysis (MD&A) and Consolidated Financial Statements for the three months and year ended December 31, 2020 which are available on the Company’s website (www.miravohealthcare.com).  All figures are in Canadian dollars, unless otherwise noted.

Key Developments

• For the year ended December 31, 2020, adjusted total revenue⁽ⁱ⁾ was $71.0 million, a decrease of 5% compared to $74.7 million for the year ended December 31, 2019.  For the three months ended December 31, 2020, adjusted total revenue⁽ⁱ⁾ was $17.3 million, a decrease of 12% compared to $19.6 million for the three months ended December 31, 2019.
• For the year ended December 31, 2020, adjusted EBITDA⁽ⁱ⁾ was $28.4 million, an increase of 4% compared to $27.2 million for the year ended December 31, 2019.  For the three months ended December 31, 2020, adjusted EBITDA⁽ⁱ⁾ was $6.2 million, a decrease of 28% compared to $8.6 million for the three months ended December 31, 2019. 
• The Company’s Commercial Business segment includes the promoted products – Blexten^® and Cambia^®.  For the year ended December 31, 2020, revenue related to Blexten and Cambia was $25.2 million, an increase of 33% compared to revenue of $19.0 million for the year ended December 31, 2019.  Revenue related to these products was $6.6 million for the three months ended December 31, 2020, an increase of 28% compared to revenue of $5.1 million for the three months ended December 31, 2019. 
• For the year ended December 31, 2020, Canadian prescriptions of Blexten and Cambia increased by 35% and 17% compared to the year ended December 31, 2019.  Canadian prescriptions of Blexten and Cambia increased by 28% and 16% for the three months ended December 31, 2020 compared to the three months ended December 31, 2019.
• During the year and three months ended December 31, 2020, the Company made principal loan repayments of $22.4 million (US$16.8 million) and $3.7 million (US$2.8 million).

Business Update

• As a result of the COVID-19 pandemic, the Company has made changes to operations to promote a healthy and safe environment for its employees, while the business continues to supply global partners, wholesalers, pharmacies, and ultimately patients, with our healthcare products. The Commercial Business segment had continued organic growth of its key promoted products – Blexten and Cambia. In 2020, the COVID-19 pandemic impacted and may continue to impact the timing of revenue. The Company is monitoring market dynamics accordingly.
• In February 2021, Nuvo Pharmaceuticals (Ireland) DAC trading as Miravo Healthcare (Miravo Ireland) entered into an exclusive license and supply agreement (the License Agreement) with The Mentholatum Company for the exclusive right to commercialize the Resultz^® formula and technology in the United States under the Mentholatum^® brand. Miravo Ireland will earn revenue from The Mentholatum Company pursuant to the License Agreement. It is anticipated that The Mentholatum Company will launch Resultz during the summer of 2021. Resultz is currently manufactured by the Company’s contract manufacturing partner in Europe.
• In January 2021, the Company launched NeoVisc_®+ 2 mL and NeoVisc_® ONE 4 mL in Canada. Both NeoVisc+ and NeoVisc ONE were issued a Medical Device License by Health Canada in September 2020 for the treatment of pain and improvement of joint functionality in patients affected by degenerative (age-related changes) or mechanical arthropathy (related to overuse) of the knee.
• In January 2021, the Company’s exclusive partner for Pennsaid^® 2% in Switzerland, Gebro Pharma AG (Gebro Pharma), launched the product into the Swiss market. The Company will begin to earn royalty revenue on net sales of Pennsaid 2% in Switzerland beginning in the first quarter of 2021.
• In December 2020, Miravo Ireland entered into an exclusive license and supply agreement with Orion Corporation (Orion) for the exclusive right to package, distribute, market and sell Suvexx^® in Finland, Sweden, Denmark, Norway, Poland, Hungary, Latvia, Lithuania and Estonia (the Territory). Orion will be responsible for obtaining and maintaining the marketing authorizations for Suvexx in the Territory and will also manage all Territory specific commercial activities. Miravo Ireland will receive up to €1.7 million in upfront consideration, regulatory and sales-based milestone payments, as well as royalties on net sales of Suvexx in the Territory and revenue pursuant to the supply of product. Suvexx is currently manufactured by the Company’s contract manufacturing partner in the United States.
• In December 2020, Nuvo Pharmaceuticals announced it would begin doing business as (d/b/a) Miravo Healthcare. The Company did not change its legal name or those of its wholly owned subsidiaries. The corporate rebranding reflects Nuvo’s evolution into a growing, multi-asset Company, which was transformed by the acquisition of the Aralez Pharmaceuticals Canada business at the end of 2018. Miravo consolidates the Nuvo and Aralez brands under one common name.
• During the year ended December 31, 2020, the Company repaid $22.4 million (US$16.8 million) of the Deerfield Loans – $4.5 million (US$3.5 million) to discharge the Bridge Loan which bore interest at 12.5% and $17.9 million (US$13.3 million) against the Amortization Loan which bears interest at 3.5%. As of December 31, 2020, the total remaining principal balances of the Deerfield Loans consisted of $59.4 million (US$46.7 million) on the Amortization Loan and $66.8 million (US$52.5 million) on the Convertible Loan, both of which bear interest at 3.5%.

“Over the last twelve months, we successfully grew our Canadian and global businesses. In Canada, we launched Suvexx and two line extensions of NeoVisc.  Our key promoted products, Blexten and Cambia, continued to grow in total prescriptions and market share versus 2019.  We filed the pediatric dossier to Health Canada for Blexten and expect a review decision by late summer 2021.  Our licensees launched Resultz in Germany and Pennsaid 2% in Switzerland and we have out-licensed Suvexx in several European countries and Resultz in the U.S.,” said Jesse Ledger, Miravo’s President & CEO.  “Despite the challenges experienced worldwide due to the Covid-19 pandemic, we have been able to adapt our business to address the changing business landscape while continuing to meet our strategic objectives and report solid financial results.”

2020 and Fourth Quarter Financial Results 
Total revenue is comprised of product sales, license revenue and contract revenue.  Total revenue was $73.8 million for the year ended December 31, 2020 compared to $69.5 million for the year ended December 31, 2019.  Total revenue for the three months ended December 31, 2020 was $17.3 million compared to $19.6 million for the three months ended December 31, 2019.  The decrease in revenue for the current quarter was primarily attributable to a $1.7 million decrease related to a reduction in the U.S. Vimovo royalties, primarily as a result of the generic entry of Vimovo in March 2020 and a $1.0 million reduction in the Company’s Pennsaid product sales, partially offset by a $0.6 million increase in the Company’s Commercial Business product sales.

Adjusted total revenue was $71.0 million for the year ended December 31, 2020 compared to $74.7 million for the year ended December 31, 2019.  The $3.7 million decrease in adjusted total revenue in the current year was primarily attributable to a decrease of $5.4 million of revenue in the Production and Service Business segment, combined with a decrease of $2.2 million in the Licensing and Royalty Business segment driven by the previously mentioned reduction in U.S. Vimovo royalties during 2020, partially offset by the $2.5 million (US$1.8 million) Takeda milestone payment, net of withholding tax of 10%, recorded in the first half of 2020 and a $3.9 million increase in revenue from the Commercial Business segment.  The Commercial Business segment revenue had continued organic growth of its key promoted products – Blexten and Cambia.  Adjusted total revenue for the three months ended December 31, 2020 decreased to $17.3 million compared to $19.6 million for the three months ended December 31, 2019.  In 2020, the COVID-19 pandemic impacted and may continue to impact the timing of revenue.  The Company is monitoring market dynamics accordingly. 

Adjusted EBITDA was $28.4 million for the year ended December 31, 2020 compared to $27.2 million for the year ended December 31, 2019.  The increase in the current year was primarily attributable to a decrease in sales and marketing and general and administrative (G&A) expenses (net of amortization), partially offset by a decrease in gross profit of $4.2 million (net of revenue recognized upon recognition of contract assets, amounts billed to customers for existing contract assets and inventory-step up expenses).  The decline in gross profit was due to a decrease in adjusted total revenue, partially offset by an increase in gross margin percentage on product sales due to the receipt of the Canada Emergency Wage Subsidy and changes in product mix.  Adjusted EBITDA for the three months ended December 31, 2020 was $6.2 million compared to $8.6 million for the three months ended December 31, 2019.

Non-IFRS Financial Measures
The Company discloses non-IFRS measures (such as adjusted total revenue, adjusted EBITDA and adjusted EBITDA per share) that do not have standardized meanings prescribed by IFRS.  The Company believes that shareholders, investment analysts and other readers find such measures helpful in understanding the Company’s financial performance and in interpreting the effect of the Aralez Transaction and the Deerfield Financing on the Company.  Non-IFRS financial measures do not have any standardized meaning prescribed by IFRS and may not have been calculated in the same way as similarly named financial measures presented by other companies.

Adjusted Total Revenue
The Company defines adjusted total revenue as total revenue, plus amounts billed to customers for existing contract assets, less revenue recognized upon recognition of a contract asset.  Management believes adjusted total revenue is a useful supplemental measure to determine the Company’s ability to generate cash from its customer contracts used to fund its operations.

The following is a summary of how adjusted total revenue is calculated:

Adjusted EBITDA
EBITDA refers to net income (loss) determined in accordance with IFRS, before depreciation and amortization, net interest expense (income) and income tax expense (recovery).  The Company defines adjusted EBITDA as EBITDA, plus amounts billed to customers for existing contract assets, inventory step-up expenses, stock-based compensation expense, Other Expenses (Income), less revenue recognized upon recognition of a contract asset and other income.  Management believes adjusted EBITDA is a useful supplemental measure to determine the Company’s ability to generate cash available for working capital, capital expenditures, debt repayments, interest expense and income taxes.

The following is a summary of how EBITDA and adjusted EBITDA are calculated:

Management to Host Conference Call/Webcast
Management will host a conference call to discuss the results today (Monday, March 8, 2021) at 11:00 a.m. ET.  To participate in the conference call, please dial 416 764 8688 or 1 888 390 0546.  Please call in 15 minutes prior to the call to secure a line.  You will be put on hold until the conference call begins.

A taped replay of the conference call will be available two hours after the live conference call and will be accessible until midnight on March 15, 2021 by calling 416 764 8677 or 1 888 390 0541 / replay passcode: 754238#.

A live audio webcast of the conference call will be available through www.miravohealthcare.com.  Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to hear the webcast.

About Miravo Healthcare
Miravo is a Canadian focused, healthcare company with global reach and a diversified portfolio of commercial products.  The Company’s products target several therapeutic areas, including pain, allergy, neurology and dermatology.  The Company’s strategy is to in-license and acquire growth-oriented, complementary products for Canadian and international markets.  Miravo’s head office is located in Mississauga, Ontario, Canada, the international operations are located in Dublin, Ireland and the Company’s manufacturing facility is located in Varennes, Québec, Canada.  The Varennes facility operates in a Good Manufacturing Practices (GMP) environment respecting the U.S, Canada and E.U. GMP regulations and is regularly inspected by Health Canada and the U.S. Food and Drug Administration.  For additional information, please visit www.miravohealthcare.com.

Forward-Looking Statements

This press release contains “forward-looking information” as defined under Canadian securities laws (collectively, “forward-looking statements”). The words “plans”, “expects”, “does not expect”, “goals”, “seek”, “strategy”, “future”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “projected”, “believes” or variations of such words and phrases or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “should”, “might”, “likely”, “occur”, “be achieved” or “continue” and similar expressions identify forward-looking statements. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking statements. 

Forward-looking statements are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances, including the anticipated receipt of certain milestone and royalty payments, the anticipated launch of certain products and the potential impact of COVID-19. Such forward-looking statements are qualified in their entirety by the inherent risks, uncertainties and changes in circumstances surrounding future expectations which are difficult to predict and many of which are beyond the control of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management of the Company as of the date of this press release, are inherently subject to significant business, economic and competitive uncertainties and contingencies and may prove to be incorrect. Material factors and assumptions used to develop the forward-looking statements, and material risk factors that could cause actual results to differ materially from the forward-looking statements, include but are not limited to, the validity of the ‘907 and ‘285 Patents claims, the outcome of ongoing patent litigation, the potential impact of COVID-19 on the Company’s operations, business and financial results and other factors, many of which are beyond the control of the Company.  Additional factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the risk factors included in the Company’s most recent Annual Information Form dated March 5, 2021 under the heading “Risks Factors”, and as described from time to time in the reports and disclosure documents filed by the Company with Canadian securities regulatory agencies and commissions. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved.

All forward-looking statements are based only on information currently available to the Company and are made as of the date of this press release. Except as expressly required by applicable Canadian securities law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. All forward-looking statements in this press release are qualified by these cautionary statements.

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SOURCE Nuvo Pharmaceuticals Inc.

TORONTO, March 8, 2021 /PRNewswire/ – The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company”) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today announced that it has launched THC gummies under its sugarleaf brand. The first variety, Strawberry Peach, is being shipped to cannabis retailers in British Columbia, Saskatchwan, Alberta Manitoba and PEI, and is expected to be available by the end of March.

“Gummies are a great addition to our product line,” said Beena Goldenberg, President and CEO of Supreme Cannabis. “They are the most in-demand product in the edibles category by both novice and experienced users. We expect sugarleaf gummies will be well-received by consumers for their fresh strawberry peach flavour and that they are vegan-friendly.”

Sugarleaf’s gummies are expertly-crafted to ensure precise delivery of THC in a convenient gummy format. Each sugarleaf gummy is a delicious combination of natural strawberry and peach flavours and contains a consistent dose of 2.5 milligrams of THC. Each package includes 4 gummies, for a total of 10 milligrams of THC per package.

The introduction of sugarleaf gummies complements the roster of new products recently introduced by Supreme, including large format flower and pre-rolls from Hiway, Pūr Cloud CBD 510 vape kit and cartridge by Blissco, and Pink Kush and Ice Cream Cake strains from 7ACRES Craft Collective.

“We will continue to look for opportunities to expand our product line to deliver the variety and excitement that cannabis consumers are seeking,” added Ms. Goldenberg. “We currently have products available to serve the broad spectrum of cannabis  consumers – from novice and experienced users, connoisseurs, to those looking for value pricing. This line-up has helped us secure our position as a top–10 Canadian Cannabis Company – according to the analytics firm Headset.”

About Supreme Cannabis.

The Supreme Cannabis Company, Inc., (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the Company has emerged as one of the world’s most premium producers of recreational, wholesale and medical cannabis products.

Supreme Cannabis’ portfolio of brands caters to diverse consumer and patient experiences, with brands and products that address recreational, wellness, medical and new consumer preferences. The Company’s recreational brand portfolio includes, 7ACRES, 7ACRES Craft Collective, Blissco,sugarleaf, and Hiway. Supreme Cannabis addresses national and international medical cannabis opportunities through its premium Truverra brand.

Supreme Cannabis’ brands are backed by a focused suite of world-class operating assets that serve key functions in the value chain, including, scaled cultivation, value-add processing, automated packaging and product testing and R&D. Follow the Company on Instagram,Twitter, Facebook,LinkedIn and YouTube.

We simply grow better.

Forward-Looking Information. 

Certain statements made in this press release constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may relate to anticipated events or results and other statements that are not historical facts. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would”. In this press release, forward-looking information and statements relate to, among other things, the expected availability of the Company’s THC gummies. Forward-looking information contained in this press release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. 

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SOURCE The Supreme Cannabis Company, Inc.

COLUMBUS, Ohio, March 8, 2021 /PRNewswire/ — Furthering its commitment to using data for good and advancing gender equality, Alliance Data Systems Corporation (NYSE: ADS), a leading provider of data-driven marketing, loyalty and payment solutions, today announced a two-year $800,000 donation to Columbus-based Ruling Our eXperiences (ROX), a national non-profit leader in evidence-based programming, research and education focused on girls.

Alliance Data’s donation will fund The Girls’ Index^TM 2022, a large, national research study of more than 20,000 U.S. girls in grades 5 through 12. Building on the findings of The Girls’ Index ^TM 2017, the country’s largest study of its kind, the goal of the study is to understand the experiences, perceptions, beliefs and behaviors of today’s girls. Findings from the research will be used to identify the social, emotional and academic needs of girls, and will help educators, parents, mentors and coaches make data-informed decisions in schools and communities throughout the country. 

With the goal of ensuring a diverse and nationally representative sample, ROX is currently recruiting schools to participate in the project.  Participating schools will receive a customized, detailed report outlining findings from their school along with analysis that can be used for administrative decision-making. Comprehensive survey findings will be published in late 2022, and applications are available on the ROX website.

“Alliance Data shares a belief with ROX that by making data actionable from original, robust research we can meaningfully and measurably address issues that are important to our communities and our business,” said Val Greer, EVP and chief commercial officer, Alliance Data Card Services. “As the insights gleaned from The 2017 Girls’ Index^TM have shown, data can make a real difference in guiding and supporting girls today so they can meet their full potential as women tomorrow, including their career opportunities and earning potential. We look forward to the results of the Girls’ Index 2022^TM and its role in empowering and enabling girls from all backgrounds.”

Including this latest donation, Alliance Data has contributed $1.2 million to ROX since 2016. Previous funds were used to establish the ROX Institute for Research & Training, the first multidisciplinary institute designed to address the complex needs of today’s girls by connecting research to practice in tangible and actionable ways.  Recent research published by the ROX Institute focuses on girls and diversity, and the impact of the coronavirus pandemic. The ROX Institute also offers free resources for parents and educators. 

“ROX uses research to inform all aspects of our work, from school-based programming to community outreach and education efforts,” said Dr. Lisa Hinkelman, founder and chief executive officer, ROX. “We are proud to be leading the conversation on the status of girls in the United States. Our research tells us that specific and timely attention to the issues facing girls is warranted. This generous donation from Alliance Data will ensure The Girls’ Index ^TM 2022 provides comprehensive data to inform society, elevate discourse and influence the way we approach our collective work with girls.”

For more information about Alliance Data’s sustainability strategy and initiatives, click here.

About Ruling Our eXperiences, Inc.

Ruling Our eXperiences, Inc. (ROX) is a 501(c)3 non-profit organization headquartered in Columbus, Ohio and is the national non-profit leader in programming, research and education focused on girls. The mission of ROX is to create generations of confident girls who can control their own relationships, experiences, decisions and futures. For more information about ROX programming and research visit www.rulingourexperiences.org.

About Alliance Data


Alliance Data
^® (NYSE: ADS) is a leading provider of data-driven marketing, loyalty and payment solutions serving large, consumer-based industries. The Company creates and deploys customized solutions that measurably change consumer behavior while driving business growth and profitability for some of today’s most recognizable brands. Alliance Data helps its partners create and increase customer loyalty across multiple touch points using traditional, digital, mobile and emerging technologies. A FORTUNE 500 and S&P MidCap 400 company headquartered in Columbus, Ohio, Alliance Data consists of businesses that together employ nearly 8,000 associates at 45 locations worldwide.

Alliance Data’s Card Services business is a comprehensive provider of market-leading private label, co-brand, general purpose and business credit card programs, digital payments, including Bread^®, and Comenity-branded financial services. LoyaltyOne^® owns and operates the AIR MILES^® Reward Program, Canada’s most recognized loyalty program, and Netherlands-based BrandLoyalty, a global provider of tailor-made loyalty programs for grocers. More information about Alliance Data can be found at www.AllianceData.com.

Follow Alliance Data on Twitter,Facebook, LinkedIn, Instagram and YouTube.

Alliance Data




Shelley Whiddon


214-494-3811


[email protected]

Rachel Stultz


614-729-4890


[email protected]

Ruling Our eXperiences, Inc. (ROX)




Lauren Hancock


614-488-8080; ext. 5


[email protected]

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SOURCE Alliance Data Systems Corporation

TechX Announces that CatalX Has Achieved an Impressive 271% Month-over-Month Increase in Trading Volume in February 2021

VANCOUVER, BC, March 8, 2021 /PRNewswire/ – TechX Technologies Inc. (“TechX” or “the Company”) (CSE:TECX) (OTC:TECXF) (FRA: C0B:FF), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies, is pleased to announce that its initial investment in CatalX CTS Ltd. (“CatalX”) has proven to be an early success. CatalX achieved significant growth in trading volume, daily users, deposits and revenue in February 2021 compared to the previous month.

CatalX, which is Canada’s premier cryptocurrency exchange, is a Canadian-based FINTRAC registered and compliant digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology.

CatalX announced the following key metrics from February 2021, compared to January 2021:

• Trading volume increased 271% MoM from $4,014,760 in January 2021 to $14,886,305 in February 2021
• Monthly transactions increased by 2,281% from 1,012 to 24,091
• Daily average users increased 75% MoM from 16.41 to 28.64
• Deposits increased by 182% MoM from $1,229,974 to $3,465,636
• Revenue increased by 61% MoM from $97,430 to $156,754

CatalX also shared the key metrics for the first six days of March 2021:

• Trading Volume: $7,985,884
• Deposits: $4,444,942
• Daily average trading volume: $1,330,980
• Daily average deposits: $740,823

“We are ecstatic about our February growth, which has not only met but exceeded our initial expectations, but our month-to-date March numbers have exponentially grown” said CatalX CEO Jae Park. “CatalX has been primarily focused on working towards becoming the first regulated exchange in Canada, and now we’ve had the opportunity to shift our focus toward user acquisition and revenue growth with the investment from TechX has already proven to be a huge success. We look forward to sharing our numbers in the coming months.”

“We are very pleased to share the CatalX Exchange’s exciting growth numbers for last month, which came at no surprise considering the ever-growing excitement surrounding crypto, along with the exchange’s superior features such as having the tightest spreads, fully featured order book and the lowest price for bitcoin in Canada,” said TechX CEO Peter Green. “The first seven days of March have been extremely encouraging, so we look forward to seeing continued increase across the board when those results come in at the end of the month. It’s clear that CatalX is the premier crypto exchange in Canada and we are very happy to be partnered with them.”

TechX signed a definitive agreement (press release from February 16, 2021) to make an equity investment of C$2,000,000 into CatalX.

About TechX Technologies Inc.
TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) (FRA: C0B:FF) is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, TechX invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.

About CatalX Exchange


CatalX
 is a Canadian-based is a digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. As a fully regulated Cryptocurrency exchange with FINTRAC, CatalX has the highest standards in security and compliance and is partnered with world-trusted names in Blockchain technologies, risk management and financial solutions to provide their users with a trusted, secure platform. CatalX is the first Canadian exchange with its own stablecoin called CADX and supports 40+ cryptocurrencies.

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

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SOURCE TechX Technologies Inc.

TSX-V:  GBR 

VANCOUVER, BC, March 8, 2021 /PRNewswire/ – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) is pleased to announce the addition of Mr. Gilbert Lawson, P.Eng. to its Board of Directors.

Mr. Lawson is a Professional Mining Engineer with over 34 years of production and management experience, holding positions including:

• Chief Operating Officer of TMAC Resources Inc., overseeing operations at the Hope Bay mine in Nunavut, until its acquisition by Agnico Eagle Mines Ltd.
• Vice President, Geology & Mine Planning for global operations, and Vice President, Operational Support for Canada and the United States at Goldcorp Inc., overseeing and evaluating geological modeling, mine planning, feasibility studies, and a portfolio of major mining operations.
• Mine Manager and Project & Business Development Manager at the Campbell Mine in Red Lake Ontario, now part of the Red Lake Mine Complex operated by Evolution Mining Ltd.
• Chief Engineer, Mine Manager and Mine General Manager at the Musselwhite Mine in Ontario, now operated by Newmont Corp.

Experience especially relevant to Great Bear’s Dixie project includes managing operations at both the Musselwhite and Campbell Mines, which are two of the largest gold mines in Ontario.  Mr. Lawson was also instrumental in establishing Wataynikaneyap Power, a First Nations owned power transmission company linking numerous First Nations communities and the Musselwhite mine in northwestern Ontario.

Mr. Lawson has a detailed understanding of all stages of mine construction and operations, from resource definition and economic studies, to mine permitting, ore extraction, processing, environmental monitoring and site reclamation.  He also has a proven track record of successful community and governmental relations, and as a resident of northwestern Ontario, is familiar with local stakeholder concerns and interests.

Mr. Lawson said, “I am proud to join Great Bear as a member of the team and contribute to the unfolding of the next great deposit in the Red Lake district.   Having worked and lived in northwestern Ontario and the Red Lake belt for many years, I have a unique perspective of this area and how to help blend the geological endowment, technology and people to build a major gold operation to benefit the surrounding communities and our shareholders.  From my initial review of the Dixie data, there are clear similarities to some of the famous mines in this camp, yet at the same time it has a uniqueness with no analogy in other Archean systems.  It is rare to find a gold deposit with both predictable mineralization stretched over several kilometres, and with high grades with visible gold, which is a trademark of the camp.  I am looking forward to the commencement of the resource modeling and engineering studies to find the optimal mine design and help build a great project.”

Chris Taylor, President and CEO of Great Bear said, “Mr. Lawson began his career as an underground miner at the Dome mine in Ontario, and progressed through engineering and mine management positions to COO, working at many of North America’s leading operations.  Mr. Lawson knows our rocks, knows our people, knows our neighbouring communities, and knows how to build and operate the kind of major project we believe Dixie has the potential to become.  We’re very pleased to have him join our team and believe his expertise will be of enormous benefit to our shareholders.”

The Company also reports it has granted an aggregate of 150,000 stock options to a director of the Company, exercisable at $13.98 per share for a period of five years.  The options are subject to a four month hold period.

About the Dixie Project

The Dixie Project is 100% owned, comprised of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake, Ontario. The project is accessible year-round via a 15 minute drive on a paved highway which runs the length of the northern claim boundary and a network of well-maintained logging roads.

The Dixie Project hosts two principal styles of gold mineralization:

• High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb, Hinge and Arrow zones). Hosted by mafic volcanic rocks and localized near regional-scale D2 fold axes. These mineralization styles are also typical of the significant mined deposits of the Red Lake district.
• High-grade disseminated gold with broad moderate to lower grade envelopes (LP Fault). The LP Fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property. High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals. The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.

About Great Bear

Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.  Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 330 km² of highly prospective tenure across 5 projects: the flagship Dixie Project (100% owned), the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), the Sobel Property (earning a 100% interest), and the Red Lake North Property (earning a 100% interest) all of which are accessible year-round through existing roads.

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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SOURCE Great Bear Resources Ltd.

HONG KONG, March 8, 2021 /PRNewswire/ — Lion Group Holding Ltd. (“Lion” or “the Company”) (NASDAQ: LGHL), operator of an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors, today announced it signed engagement letters with Maxim Group LLC and Loeb & Loeb LLP to form a second SPAC company, Aquarius I Acquisition Corp.

This news follows Lion’s recent announcement of its forming a SPAC company Skyline I Acquisition Corp. through its subsidiary Lion Wealth Management Limited, in cooperation with Constant Epoch Technology Development Limited and Ruoxi Ltd..

Lion intends to evolve and develop SPAC sponsorship into a key business segment with plans to sponsor at least one more SPAC by the end of 2021. The Company intends to build a professional SPAC sponsorship team and become a leader in the industry.

Mr. Chunning (Wilson) Wang, Chief Executive Officer of Lion, commented: “As one of the first SPACs to originate from the Asia region, Lion has firsthand experience with SPAC mergers and sufficient financial resources. Our board and management team have broad connections in various industry circles in Asia, such as internet technology, software, fintech, and other areas. Lion is able to select good-quality, private companies that intend to go public and assist them in their listing journey, which will also create value for Lion and our shareholders.”

About Lion

Lion Group Holding Ltd. (NASDAQ: LGHL) operates an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors. Through its state-of-the-art technology, Lion offers contract-for-difference (CFD) trading, insurance brokerage, futures brokerage, and securities brokerage on its platform, which can be accessed through applications available on the iOS, Android, Windows, and macOS systems. Lion’s customers are well-educated and affluent Chinese individual investors residing both inside and outside the PRC as well as institutional clients in Hong Kong. Additional information may be found at http://ir.liongrouphl.com.  

Forward-Looking Statements

This press release contains, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Lion’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Lion’s expectations with respect to future performance and anticipated financial impacts of the Business combination, the satisfaction of the closing conditions to the business combination and the timing of the completion of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of Lion and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to maintain the listing of the post-acquisition company’s ADSs on NASDAQ following the business combination; (2) the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the transactions described herein; (3) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (4) costs related to the business combination; (5) changes in applicable laws or regulations; (6) the possibility that Lion may be adversely affected by other economic, business, and/or competitive factors; and (7) other risks and uncertainties to be identified in the proxy statement/prospectus relating to the business combination, including those under “Risk Factors” therein, and in other filings with the Securities and Exchange Commission (“SEC”) made by Lion. Lion cautions that the foregoing list of factors is not exclusive. Lion cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Lion does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law.

Contacts

Lion Group Holding

Tel: +852 2820 9011
Email: [email protected]

ICR, LLC

William Zima

Tel: +1 203 682 8233
Email: [email protected]  

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SOURCE Lion Group Holding Ltd.