Shawcor Ltd. Announces Senior Management Appointment

TORONTO, March 03, 2021 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) today announced the appointment of Michael E. Reeves as the new President of Shawcor. Stephen M. Orr, will continue to serve as the Chief Executive Officer of the Company. This change is part of Shawcor’s ongoing management succession planning.

In his role as President, Mr. Reeves will report to the Chief Executive Officer and will assume responsibility for all of Shawcor’s operating segments: Pipeline and Pipe Services, Composite Systems and Automotive and Industrial, effective immediately.

Mr. Reeves joins Shawcor with over twenty-five years of industry experience in progressively senior leadership roles at companies such as NOV and Schlumberger, culminating with his current role as President and CEO of Rubicon Oilfield International, a privately held enterprise. Mr. Reeves brings to Shawcor a wealth of management expertise and global experience with a proven track record in the development and execution of strategic initiatives to drive stakeholder value. Mr. Reeves holds a bachelor’s degree in civil engineering from Imperial College in London.

Shawcor Ltd. is a global company serving various sectors of the Infrastructure, Energy and Transportation markets through three reporting segments: Pipeline and Pipe Services, Composite Systems and Automotive and Industrial. The Company operates through a global network of fixed and mobile manufacturing and service facilities and is valued for its integrity, technology and proven capability to execute the most complex projects in its industry.

This news release contains forward-looking information within the meaning of applicable securities laws. Words such as “may”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “predict”, “estimate” or similar terminology are used to identify forward-looking information. This forward-looking information is based on assumptions, estimates and analysis made in the light of the Company’s experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the Company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed or implied by the forward-looking information. The forward-looking information is provided as of the date of this news release and the Company does not assume any obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law.

For further information, please contact:

Shawcor Ltd.
Meghan MacEachern
Director, External Communications & ESG
Tel: 437-341-1848
Email: [email protected]
Website: www.shawcor.com

Source: Shawcor Ltd.



ION secures requisite backstop support for rights offering, another key bond restructuring milestone

HOUSTON, March 03, 2021 (GLOBE NEWSWIRE) — ION Geophysical Corporation (NYSE: IO) today announced that the Company has secured more than $20 million in backstop support for its rights offering. This was a critical milestone in the bond restructuring process, as the supporting bondholders had conditioned their participation in the upcoming bond exchange offer on the Company securing this amount of backstop support.

The Company will seek to obtain additional backstop support in connection with the rights offering until the maximum amount is secured or the record date (the date on which a person must hold shares to participate) is reached. Oppenheimer & Co. Inc. is serving as the exclusive dealer manager for the rights offering. For additional details regarding the bond exchange offer and rights offering transactions, please refer to the registration statements on Form S-1 and Form S-4 filed with the SEC today.  

“This milestone was a significant hurdle to closing the bond restructuring transactions,” said Chris Usher, ION’s President and Chief Executive Officer. “The deal provides the opportunity to participate in both debt and equity, depending on the party’s preference, with attractive backstop premiums. We are in the final stretch and remain on track to complete the transactions in early April.”

About ION

Leveraging innovative technologies, ION delivers powerful data-driven decision-making to offshore energy, ports and defense industries, enabling clients to optimize operations and deliver superior returns. Learn more at iongeo.com.

Contacts

ION (Investor relations)

Executive Vice President and Chief Financial Officer
Mike Morrison, +1 281.879.3615
[email protected]

ION (Media relations)

Vice President, Communications
Rachel White, +1 281.781.1168
[email protected]

Registration statements relating to the securities to be offered in the exchange offer and the rights offering in connection with the restructuring transactions have been filed with the Securities and Exchange Commission, but have not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statements become effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any offer, solicitation or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of such state or jurisdiction. The exchange offer and the rights offering will be made only by means of a prospectus. Copies of each such prospectus, when they become available, will be distributed, as applicable, to our bondholders and shareholders and may also be obtained free of charge at the website maintained by the SEC at or by contacting the appropriate agent for the offerings. Contact information for such agents will be provided when available.

The information herein contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include information and other statements that are not of historical fact. Actual results may vary materially from those described in these forward-looking statements. All forward-looking statements reflect numerous assumptions and involve a number of risks and uncertainties. These risks and uncertainties include the risks associated with the timing and development of ION Geophysical Corporation’s products and services; pricing pressure; decreased demand; changes in oil prices; agreements made or adhered to by members of OPEC and other oil producing countries to maintain production levels; the COVID-19 pandemic; our ability to complete the Restructuring Transactions and other related matters in a timely manner, if at all; and political, execution, regulatory, and currency risks. For additional information regarding these various risks and uncertainties, see our Form 10-K for the year ended December 31, 2020, filed on February 12, 2021, and our Forms S-1 and S-4, filed on January 29, 2021, and amended on February 12, 2021 and March 3, 2021. Additional risk factors, which could affect actual results, are disclosed by the Company in its filings with the Securities and Exchange Commission (“SEC”), including its Form 10-K, Form 10-Qs and Form 8-Ks filed during the year. The Company expressly disclaims any obligation to revise or update any forward-looking statements.



Marimaca Copper Corp.: Significant IP Anomalies Identified at Mercedes and Cindy Targets

VANCOUVER, British Columbia, March 03, 2021 (GLOBE NEWSWIRE) — Marimaca Copper Corp. (“Marimaca Copper” or the “Company”)(TSX: MARI) is pleased to announce the results of induced polarization (“IP”) surveys completed at the Mercedes and Cindy Targets (“Mercedes” and “Cindy”) located 3km and 5km to the north of the Company’s flagship Marimaca Copper Project. The surveys have identified extensive high chargeability anomalies, and significant resistivity lows which could represent potential oxide mineralization at each target.

Highlights

  • Extensive high chargeability anomalies identified at both Cindy and Mercedes, indicating widespread presence of sulphide mineralization
  • Coincident with the previously announced magnetic and surface geochemical anomalies at each target
  • Resistivity lows identified may highlight potential for significant oxide mineralization below thin surface cover
  • IP survey results complement the copper geochemical anomalies found at both targets and in combination, will aid drill hole planning for the upcoming exploration campaign
  • Results provide additional information regarding structural controls of mineralization and continue to add to the geological understanding of the Marimaca district
  • Mapping and sampling underway at the Robles Target, located east north east of Marimaca
  • First drill rig now onsite and drilling of Marimaca Sulphide Target is in progress.


Sergio Rivera, VP Exploration of Marimaca Copper, commented:

“As with our flagship Marimaca project, the IP surveys at Mercedes and Cindy highlighted extensive chargeability anomalies, largely coincident with both the magnetic and the broad copper geochemical anomalies previously identified at each target.

“Of note are the relatively large, laterally and vertically extensive resistivity lows which occur in the interpreted supergene portion of the systems at Cindy and Mercedes. At Marimaca, the resistivity lows were coincident with the Marimaca Oxide Deposit. Extending this interpretation to Mercedes and Cindy would suggest similar potential for meaningful oxide mineralization.

“We are excited by the geological similarities between Marimaca, Cindy and Mercedes – strongly fractured intrusive host rocks; cross cutting dyke swarms and faults; association of magnetite and copper sulphides; similar weathering profiles – and we look forward to drilling them over the coming weeks and months.

“We are also conducting mapping and sampling at our new target at Robles and this is shaping up to be another potentially significant oxide target. We hope to delineate drill targets there for testing in the first half of 2021.

“Drill rigs are now turning at the Marimaca Sulphide Target and we are also preparing to drill the district targets commencing with Cindy and followed by Mercedes and Robles.”

Overview of Induced Polarization Survey and Results

Following the success of the IP survey completed over the MOD (refer to release 2 February 2021), the Company completed similar surveys at both the Mercedes and Cindy Targets which are located 3km and 5km to the north of the Company’s flagship Marimaca Copper Project, respectively.

As with the previous survey, the objective was to identify potential areas of sulphide mineralization in proximity to the magnetic (refer to release 23 September 2020) and copper geochemical anomalies (refer to releases 9 December 2020 and 17 February 2021) identified through previous exploration work. The IP method was selected because of its deep penetration and high levels of resolution in detecting sulphide mineralization.

The surveys were completed by GRS Chile Ltda. and consisted of a single 3.5km east-west line at Mercedes and a second 4.0km east-west line at the Cindy target.

Figure 1: Location of IP Line and Resistivity, Chargeability and Mag Inversion Sections for Mercedes Target – 
https://www.globenewswire.com/NewsRoom/AttachmentNg/4b51e247-f538-4b01-8cf6-92cc9f6409c1

As at Marimaca, the survey highlighted an anomalous resistivity low (darker colours) coincident with the interpreted supergene zone at both Mercedes and Cindy. At Marimaca, these resistivity lows are coincident with the upper, highly fractured, supergene altered, intrusive host rock, containing the supergene oxide copper blanket which makes up the Marimaca Oxide Deposit. The similar resistivity lows at both Mercedes and Cindy appear to be consistent with this interpretation (see Figures 1 and 2).

Again, with remarkable similarity to Marimaca, the IP chargeability highs show broad, laterally extensive, blanket like distributions for both targets (see Figures 1and 2). These anomalies appear to be controlled by the major Naguayán Fault System and have a similar orientation to those at Marimaca.

Figure 2: Location of IP Line and Resistivity, Chargeability and Mag Inversion Sections for Cindy Target – 
https://www.globenewswire.com/NewsRoom/AttachmentNg/1804a1f4-ae47-421a-81a4-4b8e7e7ac12a

Qualified Person

The technical information in this news release, including the information that relates to geology, drilling and mineralization was prepared under the supervision of, or has been reviewed by Sergio Rivera, Vice President of Exploration, Marimaca Copper Corp, a geologist with more than 36 years of experience and a member of the Colegio de Geólogos de Chile and of the Institute of Mining Engineers of Chile, and who is the Qualified Person for the purposes of NI 43-101 responsible for the design and execution of the drilling program.

Mr. Rivera confirms that he has visited the Marimaca Project on numerous occasions, is responsible for the information contained in this news release and consents to its publication.

Contact Information

For further information please visit www.marimaca.com or contact:

Tavistock

+44 (0) 207 920 3150

Jos Simson/Emily Moss
[email protected]

Forward Looking Statements

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. These statements relate to future events or the Company’s future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, the impact of a rebranding of the Company, the future development and exploration potential of the Marimaca Project. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Marimaca Copper, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual 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 and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, the availability of and costs of financing needed in the future as well as those factors disclosed in the Company’s documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador. Accordingly, readers should not place undue reliance on forward-looking statements. Marimaca Copper undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.



Kaleido Biosciences Reports Fourth Quarter and Full Year 2020 Financial Results

Topline data from two ongoing COVID-19 studies with KB109 expected in Q1 2021

KB295 study in patients with ulcerative colitis remains on track with topline data anticipated mid-year 2021

LEXINGTON, Mass., March 03, 2021 (GLOBE NEWSWIRE) — Kaleido Biosciences, Inc. (Nasdaq: KLDO), a clinical-stage healthcare company with a differentiated, chemistry-driven approach to targeting the microbiome to treat disease and improve human health, today reported financial results for the fourth quarter and full year ended December 31, 2020.

“In 2020, our Company achieved several important financial and clinical milestones that have positioned us for a productive and busy year ahead. Supported by our recently completed financing, we are beginning the year with a strong cash position, enabling continued growth and expansion of our broad, Microbiome Metabolic Therapies (MMTTM)-based pipeline,” said Dan Menichella, President and Chief Executive Officer of Kaleido. “Recently we reported positive interim results from K031, one of two ongoing non-IND controlled clinical studies of KB109 evaluating outpatients with mild-to-moderate COVID-19 disease. Results demonstrated favorable safety and tolerability as well as evidence of clinical benefit for subjects reporting one or more comorbidities. We look forward to reporting data from both of our KB109 studies in the first quarter of 2021, including the full study population in the K031 study as well as topline results from the K032 study.”

Continued Mr. Menichella: “While our immediate priority remains advancing KB109 in COVID-19, we continue to make strong progress across our entire pipeline of novel, targeted, MMT therapies. We are currently enrolling patients in our recently initiated study of KB295 for the treatment of mild-to-moderate ulcerative colitis with topline data targeted for mid-year and continue to advance our Phase 2 clinical trial with KB195 in patients with urea cycle disorder. We are also looking forward to advancing our preclinical programs, particularly in immuno-oncology, cardiometabolic and liver diseases, and around an existing partnership with Janssen to deepen our understanding of how MMTs could potentially play a role in the prevention of childhood-onset atopic and immune conditions.”


Recent Program and Corporate Highlights

  • Interim analysis (n=176) from a controlled non-IND clinical study of KB109 in patients with mild-to-moderate COVID-19 demonstrates favorable safety and tolerability, and provides strong signal of clinical benefit for subjects reporting one or more comorbidities
     
  • In February, Kaleido closed a public offering with gross proceeds of approximately $69.4 million, before deducting underwriting discounts and commissions and other offering expenses


Anticipated Near-Term Milestones

  • Topline data from full study population (n=350) from a non-IND clinical study of KB109 in patients with mild-to-moderate COVID-19 as well as results from a second similar study expected in Q1 2021
     
  • Topline data from a non-IND clinical study of KB295 in patients with mild-to-moderate ulcerative colitis (UC) expected in mid-2021

Fourth Quarter and Full Year 2020 Financial Results

Kaleido reported a net loss of $20.0 million, or $0.56 per common share, for the fourth quarter of 2020 compared to $19.5 million, or $0.65 per common share, for the same period in 2019. For the full year 2020, Kaleido reported a net loss of $81.6 million, or $2.44 per common share, compared to $86.3 million, or $3.36 per common share, for the prior year. The 2020 fourth quarter net loss includes non-cash stock-based compensation expenses of $2.8 million, as compared to $2.2 million in the fourth quarter of 2019. The full year 2020 net loss included non-cash stock-based compensation expenses of $12.7 million, as compared to $10.1 million in 2019.

Research and development (R&D) expenses were $14.3 million and $14.1 million for the three months ended December 31, 2020 and 2019, respectively. R&D expenses were $56.0 million and $64.2 million for the year ended December 31, 2020 and 2019, respectively. The full year decrease was primarily due to reduced headcount in our R&D function and less spend with external support for our clinical studies with external CROs and external CMOs and preclinical and clinical development activities. These decreases were partially offset by increased professional and consulting spend related to our studies and increased operating costs related to our facility expansion.

General and administrative (G&A) expenses were $5.2 million and $4.9 million for the three months ended December 31, 2020 and 2019, respectively. G&A expenses were $23.9 million and $22.4 million for the year ended December 31, 2020 and 2019, respectively. The full year increase was primarily due to the modification of the vesting provision of stock options and restricted stock units related to the resignation of our former CEO and increased operating costs related to our facility expansion. These increases were partially offset by reduced headcount in our G&A functions.

As of December 31, 2020, the Company reported cash and cash equivalents of $46.2 million. Following the close of the February 2021 public offering, the Company has cash runway into the first quarter of 2022.

About Microbiome Metabolic Therapies (MMT™)

Kaleido’s Microbiome Metabolic Therapies, or MMTs, are designed to drive the function and distribution of the microbiome’s existing microbes in order to decrease or increase the production of metabolites, or to advantage or disadvantage certain bacteria in the microbiome community. The Company’s initial MMT candidates are targeted, synthetic glycans that are orally administered, have limited systemic exposure, and are selectively metabolized by enzymes in the microbiome. Kaleido utilizes its discovery and development platform to study MMTs in microbiome samples to rapidly advance MMT candidates rapidly into clinical studies in healthy subjects and patients. These human clinical studies are conducted under regulations supporting research with food, evaluating safety, tolerability and potential markers of effect. For MMT candidates that are further developed as therapeutics, the Company conducts clinical trials under an Investigational New Drug (IND) or regulatory equivalent outside the U.S., and in Phase 2 or later development.  

About Kaleido Biosciences

Kaleido Biosciences is a clinical-stage healthcare company with a differentiated, chemistry-driven approach to targeting the microbiome to treat disease and improve human health. The Company has built a proprietary product platform to enable the rapid and cost-efficient discovery and development of novel Microbiome Metabolic Therapies (MMT™). MMTs are designed to modulate the metabolic output and profile of the microbiome by driving the function and distribution of the gut’s existing microbes. Kaleido is advancing a broad pipeline of MMT candidates with the potential to address a variety of diseases and conditions with significant unmet patient needs. To learn more, visit https://kaleido.com/.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the timing of initiation, completion and reporting of results of clinical studies, and our strategy, business plans and focus. The use of words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “future,” “potential,” or “continue,” and other similar expressions are intended to identify such forward-looking statements. All such forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include fluctuations in our stock price, changes in market conditions and satisfaction of customary closing conditions related to the public offering and those risks more fully discussed in the section entitled “Risk Factors” in Kaleido’s annual report on Form 10-K for the fiscal year ended December 31, 2020, which is available at www.sec.gov, as well as discussions of potential risks, uncertainties, and other important factors in Kaleido’s subsequent filings with the Securities and Exchange Commission. Any forward-looking statements represent Kaleido’s views only as of today and should not be relied upon as representing its views as of any subsequent date. All information in this press release is as of the date of the release, and Kaleido undertakes no duty to update this information unless required by law.

Kaleido Biosciences, Inc. and Subsidiaries

Condensed Consolidated Statement of Operations (Unaudited)

(in thousands, except share and per share data)

    Three Months Ended

December
 
31,
    Year Ended

December
 
31,
 
    2020     2019     2020     2019  
Revenue:            
Collaboration revenue   $ 243     $     $ 975     $  
Operating expenses:            
Research and development     14,338       14,087       55,967       64,232  
General and administrative     5,205       4,886       23,882       22,428  
Total operating expenses     19,543       18,973       79,849       86,660  
Loss from Operations     (19,300 )     (18,973 )     (78,874 )     (86,660 )
Other (expense) income     (713 )     (537 )     (2,746 )     329  
Net loss   $ (20,013 )   $ (19,510 )   $ (81,620 )   $ (86,331 )
Net loss per share—basic and diluted   $ (0.56 )   $ (0.65 )   $ (2.44 )   $ (3.36 )
Weighted-average common shares outstanding—basic and diluted     35,981,830       30,091,773       33,450,213       25,703,269  

Kaleido Biosciences, Inc. and Subsidiaries

Condensed Consolidated Balance Sheet Data (Unaudited)

(in thousands)

    December
 
31,
2020
    December
 
31,
2019
 
Assets:                
Cash and cash equivalents   $ 46,222     $ 71,241  
Other assets     13,122       11,065  
Total assets   $ 59,344     $ 82,306  
Liabilities and stockholders’ equity                
Liabilities   $ 38,848     $ 33,423  
Stockholders’ equity     20,496       48,883  
Total liabilities and stockholders’ equity   $ 59,344     $ 82,306  

Contacts:


Kaleido Biosciences


William Duke, Jr.
Chief Financial Officer
617-890-5772
[email protected] 

Investors
Mike Biega
Solebury Trout
617-221-9660
[email protected] 

Media
Amy Bonanno
Solebury Trout
914-450-0349
[email protected] 



Laurentian Bank Financial Group declares dividends on its common shares

MONTREAL, March 03, 2021 (GLOBE NEWSWIRE) — At its meeting held on March 2, 2021, the Board of Directors of the Laurentian Bank of Canada (TSX: LB) (the “Bank”) declared a regular quarterly dividend of 40 cents per share on the common shares payable on May 1, 2021 to the holders of record at the close of business on April 1, 2021.

The above-mentioned dividends are designated as eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.

The above-mentioned shares are eligible shares under the Bank’s Shareholder Dividend Reinvestment and Share Purchase Plan (the “Plan”). Consequently, the holders of such shares may elect to reinvest their dividends in newly issued common shares of the Bank. Such purchases will be made at the applicable investment price as defined in the Plan, less a discount of 2%, and no brokerage commissions or service charges of any kind will apply.

In addition, holders of such shares are entitled to make monthly optional cash payments to purchase additional common shares in accordance with the terms of the Plan.

For more information, please contact Computershare Trust Company of Canada at 1-800-564-6253. Beneficial or non-registered owners of common and preferred shares must contact their financial institution or broker for instructions on how to participate in the Plan.

About Laurentian Bank Financial Group

Founded in 1846, Laurentian Bank Financial Group is a diversified financial services provider whose mission is to help its customers improve their financial health. The Laurentian Bank of Canada and its entities are collectively referred to as Laurentian Bank Financial Group (the “Group” or the “Bank”).

With more than 2,900 employees guided by the values of proximity, simplicity and honesty, the Group provides a broad range of advice-based solutions and services to its personal, business and institutional customers. With pan-Canadian activities and a presence in the U.S., the Group is an important player in numerous market segments.

The Group has $45.2 billion in balance sheet assets and $29.2 billion in assets under administration.

Information:

Fabrice Tremblay
Advisor, Communications
Office: 514 284-4500, extension 40020
Mobile: 438 989-6070

f
[email protected]



Tenneco Announces Intention to Offer Senior Secured Notes

PR Newswire

LAKE FOREST, Ill., March 3, 2021 /PRNewswire/ — Tenneco Inc. (NYSE: TEN) (“Tenneco”) today announced that it intends, subject to market and other customary conditions, to offer (the “Offering”) $800 million aggregate principal amount of Senior Secured Notes due 2029 (the “Notes”).

The Notes will be guaranteed by each of Tenneco’s subsidiaries that guarantees its credit facility and outstanding notes. The Notes and the subsidiary guarantees will be secured by first priority security interests in substantially all of Tenneco’s and the subsidiary guarantors’ assets, subject to certain excluded assets, exceptions and permitted liens, which security interests will rank equally with the security interests securing its credit facility and outstanding secured notes.

Tenneco intends to use the net proceeds of the Offering, together with the cash on hand, to redeem all of its outstanding 5.000% Senior Secured Notes due 2024 (the “2024 Secured Notes”) and all of its outstanding Floating Rate Senior Secured Notes due 2024 (the “2024 FR Secured Notes”), including the payment of any premiums, accrued and unpaid interest and expenses related to such redemption. This press release shall not constitute a notice of conditional redemption of the 2024 Secured Notes or the 2024 FR Secured Notes.

The Notes and the related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements. Accordingly, the Notes and the related guarantees will be offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to non-U.S. persons in offshore transactions outside the United States in accordance with Regulation S under the Securities Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Tenneco

Tenneco is one of the world’s leading designers, manufacturers and marketers of automotive products for original equipment and aftermarket customers, with 2020 revenues of $15.4 billion and approximately 73,000 team members working at more than 270 sites worldwide. Through our four business groups, Motorparts, Ride Performance, Clean Air and Powertrain, Tenneco is driving advancements in global mobility by delivering technology solutions for diversified global markets, including light vehicle, commercial truck, off-highway, industrial, motorsport and the aftermarket. Visit www.tenneco.com to learn more.

Cautionary Note Regarding Forward-Looking Statements

The disclosures herein concerning the proposed Offering and the use of net proceeds of the Offering are statements that are “forward looking” within the meaning of federal securities law. Tenneco’s ability to complete the Offering will depend on prevailing market conditions and other factors. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.

Investor inquiries

Linae Golla

847 482-5162
[email protected] 

Rich Kwas
248 849-1340
[email protected] 

Media inquiries

Bill Dawson

847 482-5807
[email protected] 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/tenneco-announces-intention-to-offer-senior-secured-notes-301239592.html

SOURCE Tenneco Inc.

Northern Trust Selected by Osmosis Investment Management to Support Fossil Fuel Free Common Contractual Fund

Northern Trust Selected by Osmosis Investment Management to Support Fossil Fuel Free Common Contractual Fund

Asset Servicing Solutions Support Launch and Distribution Strategy for US$2 Billion Sustainable Investment Manager

LONDON & DUBLIN–(BUSINESS WIRE)–
Northern Trust today announced it has been selected by Osmosis Investment Management (Osmosis) to provide fund administration, global custody and depositary services for the Osmosis Resource Efficient Core Equity (ex-fossil fuels) Fund in a Collective Investment in Transferable Securities (UCITS) Common Contractual Fund (CCF).

The strategy, which Osmosis developed amid growing investor appetite to remove carbon risk from investor portfolios, will allow institutional investors to target an uncorrelated source of sustainable alpha from their core equity exposure, with a positive environmental focus. This latest addition to its suite of resource efficient strategies brings Osmosis’ ex fossil fuel assets under management to over US$600 million.

The appointment extends the relationship between both organizations – Northern Trust supports several Osmosis funds, including the Osmosis Resource Efficient Equity Market Neutral Fund, launched in 2018.

The CCF is a tax-transparent fund vehicle, allowing its underlying investors to benefit from double taxation treaties to reduce withholding taxes in markets that recognize transparency as if they held the assets directly. Created in 2004 as a solution for cross-border pension fund pooling, tax-transparent funds have developed as an optimum vehicle for asset managers to facilitate cross-border distribution of funds to institutional investors.

Northern Trust services US$297 billion in tax-transparent funds globally (as of 31 December 2020) and its expertise in administering European tax-transparent fund vehicles was among the key reasons for its appointment.

Ben Dear, CEO at Osmosis Investment Management, said, “As we further expand our fund range to meet client demand for sustainable investment strategies, we need to partner with organizations able to deliver flexible, efficient servicing solutions for our investors. Northern Trust’s expertise in supporting tax-transparent fund structures, allied with its ability to deliver pan-European servicing solutions, aligned strongly with our plans for the launch and development of this fund.”

Clive Bellows, head of Global Fund Services Europe Middle East Africa at Northern Trust, comments, “We are delighted to extend our relationship with Osmosis and support them in executing this fund launch. In this case, the use of a CCF supports our client’s growth and distribution strategy – allowing them to draw on the benefits of tax-transparency for their investors and help bring this fund efficiently to market.”

The Osmosis UCITS CCF is supported by Prescient Fund Services (Ireland) Limited (Prescient), which serves as its Irish regulated UCITS management company. Prescient also serves as alternative investment fund manager to the Prescient CCF, also supported by Northern Trust. Osmosis manages Prescient’s original CCF sub-fund, which is regulated under the Alternative Investment Fund Managers Directive (AIFMD).

Rob Childs, head of Business Development at Prescient, added, “Osmosis has been an important client since it launched its first Irish fund on the Prescient UCITS platform in 2012, and we congratulate Ben and his team on their new UCITS CCF and impressive achievements to date.”

Northern Trust’s Global Fund Services business provides fund administration, global custody, depositary, investment operations outsourcing and revenue enhancement solutions to global investment managers – supporting an extensive range of complex investment strategies across the full spectrum of asset classes.

About Osmosis

Osmosis launched in 2009 and is a sustainable asset management business headquartered in London with firmwide assets under management of ~$2.0bn as of 31 December 2020. Government Pension Funds, State Pension Funds, Insurance Companies, Foundations, Endowments, Family Offices and Banks, are amongst its client roster spanning North America, Continental Europe, Nordics, the UK, and Australia.

The Osmosis Model of Resource Efficiency (MoRE) is a proprietary investment database developed and maintained by the team at Osmosis. The MoRE model allows Osmosis to create an objective, sustainable, alpha generating investment factor, through the identification across thirty-two economic sectors of global large cap companies which are generating more revenue whilst consuming less resource than their sector peers. The company’s systematic investment strategies and funds target an improved risk-return profile whilst, importantly, delivering significantly reduced environmental footprints to their relative benchmarks. www.osmosisim.com

About Prescient

Prescient Fund Services (Ireland) Limited is a limited liability company incorporated under the laws of Ireland having its registered office at 35 Merrion Square East, Dublin 2, Ireland and is authorised by the Central Bank of Ireland as a UCITS management company pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. 352 of 2011) as amended and as an AIFM pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (as amended). As of December 31, 2020, Prescient Fund Services had assets under administration or management of over USD 30 billion globally, of which Prescient Fund Services (Ireland) Limited had over USD 3.9 billion. Prescient Fund Services has over 120 employees globally. www.prescient.ie

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2020, Northern Trust had assets under custody/administration of US$14.5 trillion, and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

# # #

Europe, Middle East, Africa & Asia-Pacific:

Camilla Greene

+44 (0) 20 7982 2176

[email protected]

Marcel Klebba

+44 (0) 20 7982 1994

[email protected]

US & Canada:

John O’Connell

+1 312 444 2388

John_O’[email protected]

KEYWORDS: Europe Ireland United Kingdom

INDUSTRY KEYWORDS: Finance Oil/Gas Banking Energy Professional Services

MEDIA:

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OptimizeRx to Participate at the 33rd Annual Virtual ROTH Conference on March 15-17, 2021

ROCHESTER, Mich., March 03, 2021 (GLOBE NEWSWIRE) — OptimizeRx Corp. (Nasdaq: OPRX), a leading provider of digital health solutions for life science companies, physicians and patients, has been invited to present at the 33rd Annual ROTH Growth Conference being held virtually on March 15-17, 2021.

The conference will feature presentations from public and private companies across a variety of industry sectors, followed by one-on-one and small group meetings, as well as expert panels and fireside chats. Past events have featured more than 550 participating companies and drawn more than 5,000 attendees that include institutional investors, analysts, family offices and high-net-worth investors.

OptimizeRx pre-recorded video webcast presentation is available today here and via the investor relations section of the company’s website at www.optimizerx.com.

OptimizeRx CEO, Will Febbo, will participate in one-on-one meetings with investors and analysts during the conference. He plans to discuss the company’s recently reported record 2020 results, with a 76% increase in revenue to $43.3 million largely driven by what is seen as a permanent shift to more digital enablement. The company also finished the year with a sales pipeline of more than $180 million, including enterprise deals valued at more than $50 million.

To submit a registration request, click here. To schedule a one-on-one meeting with OptimizeRx, please contact your ROTH representative. For any questions about the company, contact Ron Both of CMA at (949) 432-7557 or submit your request here.

About ROTH Capital Partners

ROTH Capital Partners, LLC “ROTH” is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately held and employee owned. For more information on ROTH, please visit www.roth.com.

About OptimizeRx

OptimizeRx is a digital health company that provides communications solutions for life science companies, physicians and patients. Connecting over half of healthcare providers in the U.S. and millions of patients through a proprietary network, the OptimizeRx digital health platform helps patients afford and stay on medications. The platform unlocks new patient and physician touchpoints for life science companies along the patient journey, from point-of-care, to retail pharmacy, through mobile patient engagement.

For more information, follow the company on TwitterLinkedIn or visit www.optimizerx.com

Important Cautions Regarding Forward-Looking Statements

This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended, and such as in section 21E of the Securities Act of 1934, as amended. These forward-looking statements should not be used to make an investment decision. The words ‘estimate,’ ‘possible’ and ‘seeking’ and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition, and other material risks.

OptimizeRx Contact

Doug Baker, CFO
Tel (248) 651-6568 x807
[email protected]

Media Relations Contact

Maira Alejandra, Media Relations Manager
Tel (754) 245-7070
[email protected]

Investor Relations Contact

Ron Both, CMA
Tel (949) 432-7557
Email Contact



Ituran Location and Control Ltd Announces Distribution of a Dividend

PR Newswire

AZOUR, Israel, March 3, 2021 /PRNewswire/ — Ituran Location and Control Ltd. (NASDAQ: ITRN) announced that the Board of Directors approved the distribution of a cash dividend in the amount of $0.48 per share, totaling approximately US$10 million. The dividend will be paid to shareholders of record as of March 23, 2021. The Company will pay the dividend out on April 6, 2021 net of taxes at the rate of 25%.

In its decision to approve the distribution of the cash dividend, the Board of Directors examined whether the Company meets the distribution criteria according to Israeli law. The Board of Directors concluded that the abovementioned distribution will not undermine the Company’s ability to keep performing in its current course of business or future plans, and is able to meet its undertakings when due.

Retained earnings as of December 31, 2020, prior to the distribution was US$ 127.7 million and retained earnings will reach US$ 117.7 million after the distribution. The Board of Directors emphasized that as of December 31, 2020, the Company had a cash balance in hand of US$72.2 million. The Company also had long-term debt of US$ 34.1 million and credit from banking institutions of US$ 20.4 million. As of December 31, 2020, the Company’s current assets (excluding cash and cash equivalents) were in the sum of US$ 107.3 million and current liabilities were in the sum of US$ 112.7 million.

About Ituran

Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management & control services for vehicles, cargo and personal security for the retail, insurance industry and car manufacturers. Ituran is the largest OEM telematics provider in Latin America. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the Tel-Aviv based DRIVE startup incubator to promote the development of smart mobility technology.

Ituran’s subscriber base has been growing significantly since the Company’s inception to approaching 2 million subscribers using its location based services with a market leading position in Israel and Latin America. Established in 1995, Ituran has approximately 3,000 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, Canada and the United States.

For more information, please visit Ituran’s website, at: www.ituran.com

 


Company Contact

Udi Mizrahi


[email protected]


Deputy CEO &VP Finance, Ituran


(Israel) +972 3 557 1348


International Investor Relations

Ehud Helft / Gavriel Frohwein


[email protected] 


GK  Investor & Public Relations

(US) +1 646 688 3559 

 

 

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SOURCE Ituran Location and Control Ltd.

Kootenay Commences Drilling at Columba High-Grade Silver Project, Mexico

PR Newswire

VANCOUVER, BC, March 3, 2021 /PRNewswire/ – Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce that a 5,000-meter core drilling program (the “Program”) has commenced at the Columba silver project, located in Chihuahua State, Mexico.

The Program will focus on step out and infill drilling on impressive results to date in the high-grade F-vein and its associated hanging wall vein, a new discovery blind to surface. Focus will then shift to expanding on numerous other high-grade results such as found in holes CDH 20-030 (415 gpt silver over 11.15 meters including 721 gpt silver over 4.07 meters) in the JZ area and CDH 20-082 (1,186 gpt silver over 4.6 meters) in the B Vein.

James McDonald, CEO and President Stated: “Ending on a high note last year with 1,186 gpt silver over 4.6 meters on the largely untested B Vein we are eager to continue testing the various high-grade areas established by our 2019 and 2020 programs.”

Comprehensive drill results from the 2019 and 2020 programs can be viewed by clicking the following link: Columba Drill Results.

The Company has contracted GlobeXplore, S.A. de C.V. of Hermosillo, Sonora, Mexico to conduct the drilling at Columba. Results of the drill program will be announced as soon as the assays are received and interpreted by the Company.


About the Columba Property

Columba is a past producing high-grade silver mine, which operated on a small scale circa 1910 and again briefly circa 1958-60.  The Property covers a large high-grade epithermal vein system which the Kootenay has mapped over strike lengths from 200 meters to up to 2 kilometers and sampled with grades returning up to 693 gpt silver on surface and exceeding 2,000 gpt in drilling.  The Project area includes a network of underground workings comprised of 4 shafts and 6 levels of drifts reported to measure over 1,000 meters in length. 


Sampling and QA/QC at Columba

All technical information for the Columba exploration program is obtained and reported under a formal quality assurance and quality control (“QA/QC”) program. Samples are taken from core cut in half with a diamond saw under the direction of qualified geologists and engineers. Samples are then labeled, placed in plastic bags, sealed and with interval and sample numbers recorded. Samples are delivered by the Company to ALS Minerals (“ALS”) in Chihuahua. The samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS in Vancouver, B.C. Systematic assaying of standards, blanks and duplicates is performed for precision and accuracy. Analysis for silver, zinc, lead and copper and related trace elements was done by ICP four acid digestion, with gold analysis by 30-gram fire assay with an AA finish. All drilling reported is HQ core and has been contracted to Globexplore Drilling from Hermosillo, Mexico.

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


Qualified Persons

The Kootenay scientific and technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and reviewed and approved on behalf Kootenay by James McDonald, P.Geo, President, CEO & Director for Kootenay, a Qualified Person.


About Kootenay Silver Inc.

Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Supported by one of the largest portfolios of silver assets in Mexico, Kootenay continues to provide its shareholders with significant leverage to silver prices. The Company remains focused on the expansion of its current silver resources, new discoveries and the near-term economic development of two of its priority silver projects located in prolific mining districts in Sonora, State and Chihuahua, State, Mexico, respectively.

On Behalf of the Board of Directors of

KOOTENAY SILVER INC.

“James McDonald”

President & CEO

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


CAUTIONARY NOTES:

The sampling results disclosed in this news release are not necessarily indicative and drilling is required to confirm a mineral deposit.

The information in this news release has been prepared as at March 2, 2021. This news release contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements“).  All statements, other than statements of historical fact, that address activities, events or developments that Kootenay Silver Inc. (“Kootenay” or the “Company“) believes, expects or anticipates will or may occur in the future including, without limitation, the anticipated exploration program results from exploration activities, the discovery and delineation of mineral deposits and sampling results from the Columba Project and other properties, the anticipated content, commencement, and cost of exploration programs in respect of the Company’s projects and mineral properties, the anticipated business plans and timing of future activities of the Company, future capital expenditures (including the amount and nature thereof), business strategies and measures to implement strategies, competitive strengths, goals, expansion and growth of the business and operations, plans and references to the future success of the Company, and such other matters, are forward

looking statements.  These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to Kootenay and often use words such as “expects”, “plans”, “anticipates”, “estimates”, “believes”, “intends”, “potential”, “may” or variations thereof or the negative of any of these terms.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Kootenay. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the ability of the Company to obtain sufficient financing to fund its business activities and plans, operating and technical difficulties in connection with mineral exploration and development and mine development activities for Company’s projects generally, actual results of exploration activities (including the estimation or realization of mineral reserves and mineral resources), the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of gold and silver, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental and regulatory approvals (including of the TSX Venture Exchange), permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under “Risk Factors” in the Company’s most recent annual management’s discussion and analysis and other filings of the Company with the Canadian Securities Administrators, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.

Any forward-looking statement speaks only as of the date on which it was made, and except as may be required by applicable securities laws, Kootenay disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Kootenay believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty.  There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.


Cautionary Note to US Investors:

 This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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SOURCE Kootenay Silver Inc.