Ritchie Bros. sells CA$49+ million of equipment and trucks in largest-ever Ontario auction

PR Newswire

March 9 – 11 online event in Toronto attracts 35% more bidders and 66% more item watchlists

TORONTO, March 15, 2021 /PRNewswire/ – Week after week, Ritchie Bros. continues to deliver outstanding results to its consignors, with unprecedented demand and strong pricing in 2021. Last week the company sold more than 4,300 equipment items and trucks in its largest-ever Toronto, ON auction. The March 9 – 11 online event attracted 35% more bidders year over year and achieved CA$49+ million (US$39+ million) in gross transaction value.

Despite tight market supply, Ritchie Bros. sold a record amount of equipment in Toronto last week, including 320+ truck tractors, 210+ aerial work platforms, 120 compactors, 95+ skid steers, 55+ excavators, and more. Specific sales highlights included a 2018 John Deere 380G excavator that sold for CA$315,000; a 2017 Mack GU813 granite dump truck that sold for CA$175,000; and a 2019 Kenworth T800 T/A sleeper heavy haul truck that sold for CA$143,500. All items in were sold unreserved and all bidding was conducted 100% online. 

“Following excellent recent results in Edmonton, Orlando, and our Rocky Mountain Regional Auction, we continue to achieve strong pricing for consignors, regardless of auction type or location,” said Ryan Pottruff, Regional Sales Manager, Ritchie Bros. “Last week’s record-breaking Toronto auction saw particularly strong price realization for transportation equipment, with Class 8, dump trucks, and heavy haul trucks achieving incredible prices. Leading up to the sale we saw a ton of buzz online, with pageviews, watchlists, and PriorityBids all up year over year. We encourage interested sellers to contact us today to take advantage of the strong market.” 

With 100% of bidding online, Ritchie Bros. attracted record online demand. Last week’s Toronto sale saw a 48% percent increase in pageviews (1.1+ million), a 66% increase in watchlist adds (66,000+); and 11,000+ PriorityBids.

“With Ritchie Bros. your equipment gets the largest exposure and you get fantastic customer service, prompt communication, and one-stop shopping,” said Kevin Meisner, General Manager of Meisner Construction Inc., which sold 40 items in the Toronto sale as part of a fleet realignment. “Don’t waste your time with anyone else. The returns we received this week with the Toronto auction were phenomenal!”

Close to 10,000 bidders from 67 countries registered for the three-day Toronto auction. Approximately 93% of the equipment in the auction sold to Canadians, including 73% sold to Ontario buyers, while the remaining seven percent was sold to international buyers from as far away as Singapore, Peru, and the United Kingdom.     

AUCTION QUICK FACTS: TORONTO, ON (MARCH 2021)

  • Gross Transaction Value (GTV): CA$49+ million (US$39+ million) *new site record
  • Total Registered Bidders: 10,000 *new site record
  • Total Number of Lots: 4,300+ *new site record
  • Total Number of Consignors: 700+

Ritchie Bros. will sell more than 70,000 equipment items and trucks in its upcoming auctions, including a two-day Chilliwack, BC auction on March 17 – 18; Regina, SK on March 23 – 24; and a Montreal, QC auction on March 24 – 26. The company also has weekly featured online auctions at IronPlanet.com and a daily reserved option with Marketplace-E.


About Ritchie Bros.:

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company’s selling channels include: Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The Company’s suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

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SOURCE Ritchie Bros.

Village Farms International to be Added to S&P/TSX Composite Index Prior to Trading on March 22, 2021

PR Newswire

VANCOUVER, BC, March 15, 2021 /PRNewswire/ – Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) (TSX: VFF) today announced the Company will be added to the S&P/TSX Composite Index (Consumer Staples sector) prior to the open of trading on March 22, 2021. The S&P/TSX Composite is the headline index for the Canadian equity market, is the broadest in the S&P/TSX family and is the basis for multiple sub-indices. It includes the largest and most liquid companies on the Toronto Stock Exchange (TSX), currently totalling approximately 220 (of the approximately 1500 listed on the TSX) that meet certain criteria, including for market capitalization and liquidity.  Inclusion in the S&P/TSX Composite Index can potentially broaden participation in a Company’s investor base by enabling investment from index funds and similar investment vehicles. 

“Our addition to the benchmark stock index for the TSX, on which Village Farms has been listed since 2006, is another proud milestone for Village Farms, and a reflection of the significant value we are creating for shareholders as we leverage our decades of experience as one of North America’s largest vertically integrated controlled environment produce suppliers for the high-growth cannabis opportunity in Canada, and internationally, including the U.S. and other large potential markets,” said Michael DeGiglio, CEO, Village Farms International.  “We pursue these opportunities with the same integrity and commitment to sound corporate governance and sustainable agriculture practices that has guided our organization since inception.  And we look forward to the increased exposure, broader range of potential investors and enhanced liquidity that inclusion in the S&P/TSX Composite Index can provide, as we execute on our strategy to continue to drive long-term value for our shareholders.”

About Village Farms International, Inc.
Village Farms is one of the largest and longest-operating greenhouse growers in North America. The Company leverages decades of experience in large-scale, low-cost intensive agriculture as a vertically integrated produce supplier to pursue high-value, high-growth plant-based Consumer Packaged Goods opportunities in cannabis and CBD in North America and select markets internationally.

The Company’s wholly-owned Canadian subsidiary, British-Columbia-based Pure Sunfarms, is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer and one of the best-selling brands in Canada, and has generated profitability for seven consecutive quarters.

In the U.S., subject to compliance with all applicable U.S. federal and state laws, Village Farms is pursuing a strategy to become a leading developer and supplier of branded and white-labeled CBD products targeting major retailers and consumer packaged goods companies. Village Farms has one of the largest greenhouse operations in the country and is strategically positioned to utilize its agricultural experience and Pure Sunfarms’ operational and product expertise, to pursue potential high-THC cannabis opportunities when legally permitted to do so.

Internationally, Village Farms evaluates and targets select, nascent, legal cannabis and CBD opportunities with significant long-term potential, with an initial focus on the Asia-Pacific region through its investments in Australia-based Altum International.


Cautionary Statement Regarding Forward-Looking Information


This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is subject to the safe harbor created by those sections. This press release also contains “forward-looking information” within the meaning of applicable Canadian securities law. We refer to such forward-looking statements and forward-looking information collectively as “forward-looking statements”. Forward-looking statements may relate to the Company’s future outlook or financial position and anticipated events or results and may include statements regarding the financial position, business strategy, budgets, expansion plans, litigation, projected production, projected costs, capital expenditures, financial results, taxes, plans and objectives of or involving the Company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities for the Company, the greenhouse vegetable industry or the cannabis industry are forward-looking statements. In some cases, forward-looking information can be identified by such terms as “outlook”, “may”, “might”, “will”, “could”, “should”, “would”, “occur”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “try”, “estimate”, “predict”, “potential”, “continue”, “likely”, “schedule”, “objectives”, or the negative or grammatical variation thereof or other similar expressions concerning matters that are not historical facts. The forward-looking statements in this press release are subject to risks that may include, but are not limited to: our limited operating history, including that of Pure Sunfarms and our start-up operations of growing hemp in the United States; the legal status of Pure Sunfarms cannabis business; risks relating to obtaining additional financing, including our dependence upon credit facilities; potential difficulties in achieving and/or maintaining profitability; variability of product pricing; risks inherent in the cannabis, hemp and agricultural businesses; the ability of Pure Sunfarms to cultivate and distribute cannabis in Canada; existing and new governmental regulations, including risks related to regulatory compliance and licenses (e.g., Pure Sunfarms’ ability to obtain licenses for its Delta 2 greenhouse facility as well as additional licenses under the Canadian act respecting cannabis to amend to the Controlled Drugs and Substances Act, the Criminal Code and other Acts, S.C. 2018, c. 16 (Canada) for its Delta 3 greenhouse facility), and changes in our regulatory requirements; risks relating to conversion of our greenhouses to cannabis production for Pure Sunfarms; risks related to rules and regulations at the U.S. federal (Food and Drug Administration and United States Department of Agriculture), state and municipal levels with respect to produce and hemp; retail consolidation, technological advances and other forms of competition; transportation disruptions; product liability and other potential litigation; retention of key executives; labor issues; uninsured and underinsured losses; vulnerability to rising energy costs; environmental, health and safety risks, foreign exchange exposure, risks associated with cross-border trade; difficulties in managing our growth; restrictive covenants under our credit facilities; natural catastrophes; the ongoing and developing COVID-19 pandemic; and tax risks.

The Company has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. Although the forward-looking statements contained in this press release are based upon assumptions that management believes are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the Company’s control, that may cause the Company’s or the industry’s actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the factors contained in the Company’s filings with securities regulators, including this press release. In particular, we caution you that our forward-looking statements are subject to the ongoing and developing circumstances related to the COVID-19 pandemic, which may have a material adverse effect on our business, operations and future financial results.

When relying on forward-looking statements to make decisions, the Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future results, performance, achievements, prospects and opportunities. The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

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SOURCE Village Farms International, Inc.

Centene and Pro Football Hall of Fame Team Up to Tackle Concerns Over COVID-19 Vaccinations

PSAs to Target At-risk Individuals, Communities of Color

PR Newswire

ST. LOUIS, March 15, 2021 /PRNewswire/ — Centene Corporation (NYSE: CNC) and several members of the Pro Football Hall of Fame family are partnering to increase education and awareness around COVID-19 vaccines through a series of new 15-, 30- and 60-second public service announcements (PSAs), with a particular focus on communities of color. The PSAs will air nationally on television networks and over digital platforms beginning today.

Delivering the message that COVID-19 vaccines protect not only the recipient but also their friends and families will be Hall of Famers ANTHONY MUÑOZ (in both English and Spanish), DARRELL GREEN, AENEAS WILLIAMSand DREW PEARSON; along with LISA SALTERS, a Hall of Fame Selector and TV broadcaster; and friends of the Hall DAWN STALEY, a three-time Olympic gold medal winner and coach of the 2017 national champion University of South Carolina women’s basketball team; and IMAN MCFARLAND, Chief Operating Officer for 21st Century Expo Group and an ambassador for the Hall’s and Centene’s joint “Strong Youth Strong Communities” programming.

Each 30-second message can be previewed and downloaded here: Anthony Muñoz (English), Anthony Muñoz (Spanish), Darrell Green, Aeneas Williams, Drew Pearson, Lisa Salters, Dawn Staley, Iman McFarland. The campaign’s 15- and 60-second versions can be found here.

Public health officials have stated that widespread adoption of the vaccine will be necessary to stop the spread of the virus. The vaccines have been proven safe and effective by the FDA, especially at preventing severe illness and hospitalization related to COVID-19, which has affected communities of color at a disproportionately higher rate. Please visit the Centers for Disease Control website (www.cdc.gov) for information regarding the COVID-19 vaccination and other safety information. 

To achieve “herd immunity,” roughly 80% of the U.S. population needs to be vaccinated, health officials have said. Multiple surveys have indicated high rates of “vaccine hesitancy” within the African American community and other communities of color, which is impacting immunization rates. Recent data show Blacks make up only 6% of those who had been vaccinated despite constituting 13% of the population and accounting for 15% of all COVID-19 deaths.

 “Uncertainty around the COVID-19 vaccine could lead some people to avoid or delay receiving the shot. We are concerned that this could have significant consequences for their health and the health of their families,” said Dr. Ken Yamaguchi, Chief Medical Officer for Centene. “Through this campaign, we want to empower people to actively contribute to their health and well-being by informing them about the benefits of the vaccine.”

The PSA campaign is designed to build confidence around the vaccine and encourage people to get vaccinated. The messaging not only focuses on the vaccine as a means of protecting oneself, but also to stop the spread of the virus to family and friends, those who “Count on You.” In the PSAs, Muñoz, Green, Williams, Pearson, Salter, Staley and McFarland talk about the people in their lives who are counting on them to get the vaccine to stay healthy. 

“As we’ve seen throughout the COVID-19 pandemic, we’re a team and we need to work together to stop the virus from spreading,” said David Baker, President & CEO of the Pro Football Hall of Fame. “We recognize there are a lot of questions out there about the vaccine, so we want to make sure we’re reaching as many people as possible. We thank Anthony, Darrell, Aeneas, Drew, Lisa, Dawn and Iman for encouraging everyone to get vaccinated for the sake of the people counting on them.”

The Pro Football Hall of Fame is Centene’s Official Youth Wellness Partner. Through the “Strong Youth Strong Communities” program over the past four years, Hall of Famers have discussed such important issues with youth as mental health, suicide and bullying. During the COVID-19 pandemic, “virtual” Youth Summits have been held in several states on these topics. For its work on these issues, the Pro Football Hall of Fame was the recipient of the 2019 Booker T. Washington award from the National Minority Quality Forum for its commitment to advancing health equity.

For more information about COVID-19 and available vaccines, visit the CDC website.

About Centene Corporation
Centene Corporation, a Fortune 50 company, is a leading multi-national healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality, and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. The Company also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and the development of its people, systems and capabilities so that it can better serve its members, providers, local communities, and government partners.

Centene uses its investor relations website to publish important information about the company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene’s investor relations website, http://investors.centene.com/.

ABOUT THE PRO FOOTBALL HALL OF FAME
Located in Canton, Ohio, the birthplace of the National Football League, the Pro Football Hall of Fame is a 501(c)(3) not-for-profit institution with the Mission to Honor the Heroes of the Game, Preserve its History, Promote its Values, & Celebrate Excellence EVERYWHERE.

The Pro Football Hall of Fame is accredited by the American Alliance of Museums. AAM accreditation is national recognition for the museum’s commitment to excellence and the highest professional standards of museum operation and public service.

Hundreds of thousands of fans from across the globe travel to Canton annually to experience “The Most Inspiring Place on Earth!” that chronicles America’s most popular sport. Fans can also enjoy the Hall of Fame Store at the Hall, and online at www.profootballhof.com/store, for merchandise from all 32 NFL clubs plus the Hall of Fame. Proceeds from the Store support the Hall’s Mission. 

Construction on Hall of Fame Village Powered by Johnson Controls, a mixed-use development project, is under way in Canton to transform the Hall of Fame’s campus.

Forward-Looking Statements

All statements, other than statements of current or historical fact, contained in this press release are forward-looking statements. Without limiting the foregoing, forward-looking statements often use words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “seek,” “target,” “goal,” “may,” “will,” “would,” “could,” “should,” “can,” “continue” and other similar words or expressions (and the negative thereof). Centene (the Company, our, or we) intends such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we are including this statement for purposes of complying with these safe-harbor provisions. In particular, these statements include, without limitation, statements about our future operating or financial performance, market opportunity, growth strategy, competition, expected activities in completed and future acquisitions, including statements about the impact of our proposed acquisition of Magellan Health (the Magellan Acquisition), our recently completed acquisition of WellCare Health Plans, Inc. (WellCare and such acquisition, the WellCare Acquisition), other recent and future acquisitions, investments and the adequacy of our available cash resources. These forward-looking statements reflect our current views with respect to future events and are based on numerous assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, business strategies, operating environments, future developments and other factors we believe appropriate. By their nature, forward-looking statements involve known and unknown risks and uncertainties and are subject to change because they relate to events and depend on circumstances that will occur in the future, including economic, regulatory, competitive and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions. All forward-looking statements included in this press release are based on information available to us on the date hereof. Except as may be otherwise required by law, we undertake no obligation to update or revise the forward-looking statements included in this press release, whether as a result of new information, future events or otherwise, after the date hereof. You should not place undue reliance on any forward-looking statements, as actual results may differ materially from projections, estimates, or other forward-looking statements due to a variety of important factors, variables and events including, but not limited to: the impact of COVID-19 on global markets, economic conditions, the healthcare industry and our results of operations and the response by governments and other third parties; the risk that regulatory or other approvals required for the Magellan Acquisition may be delayed or not obtained or are obtained subject to conditions that are not anticipated that could require the exertion of management’s time and our resources or otherwise have an adverse effect on us; the risk that Magellan Health’s stockholders do not approve the definitive merger agreement; the possibility that certain conditions to the consummation of the Magellan Acquisition will not be satisfied or completed on a timely basis and accordingly the Magellan Acquisition may not be consummated on a timely basis or at all; uncertainty as to the expected financial performance of the combined company following completion of the Magellan Acquisition; the possibility that the expected synergies and value creation from the Magellan Acquisition or the WellCare Acquisition will not be realized, or will not be realized within the applicable expected time periods; the exertion of management’s time and our resources, and other expenses incurred and business changes required, in connection with complying with the undertakings in connection with any regulatory, governmental or third party consents or approvals for the Magellan Acquisition; the risk that unexpected costs will be incurred in connection with the completion and/or integration of the Magellan Acquisition or that the integration of Magellan Health will be more difficult or time consuming than expected; the risk that potential litigation in connection with the Magellan Acquisition may affect the timing or occurrence of the Magellan Acquisition or result in significant costs of defense, indemnification and liability; a downgrade of the credit rating of our indebtedness, which could give rise to an obligation to redeem existing indebtedness; the possibility that competing offers will be made to acquire Magellan Health; the inability to retain key personnel; disruption from the announcement, pendency and/or completion and/or integration of the Magellan Acquisition or the integration of the WellCare Acquisition, or similar risks from other acquisitions we may announce or complete from time to time, including potential adverse reactions or changes to business relationships with customers, employees, suppliers or regulators, making it more difficult to maintain business and operational relationships; our ability to accurately predict and effectively manage health benefits and other operating expenses and reserves, including fluctuations in medical utilization rates due to the impact of COVID-19; competition; membership and revenue declines or unexpected trends; changes in healthcare practices, new technologies, and advances in medicine; increased healthcare costs; changes in economic, political or market conditions; changes in federal or state laws or regulations, including changes with respect to income tax reform or government healthcare programs as well as changes with respect to the Patient Protection and Affordable Care Act (ACA) and the Health Care and Education Affordability Reconciliation Act, collectively referred to as the ACA and any regulations enacted thereunder that may result from changing political conditions, the new administration or judicial actions, including the ultimate outcome in “Texas v. United States of America” regarding the constitutionality of the ACA; rate cuts or other payment reductions or delays by governmental payors and other risks and uncertainties affecting our government businesses; our ability to adequately price products; tax matters; disasters or major epidemics; changes in expected contract start dates; provider, state, federal, foreign and other contract changes and timing of regulatory approval of contracts; the expiration, suspension, or termination of our contracts with federal or state governments (including, but not limited to, Medicaid, Medicare, TRICARE or other customers); the difficulty of predicting the timing or outcome of pending or future legal and regulatory proceedings or government investigations; challenges to our contract awards; cyber-attacks or other privacy or data security incidents; the possibility that the expected synergies and value creation from acquired businesses, including businesses we may acquire in the future, will not be realized, or will not be realized within the expected time period; the exertion of management’s time and our resources, and other expenses incurred and business changes required in connection with complying with the undertakings in connection with any regulatory, governmental or third party consents or approvals for acquisitions; disruption caused by significant completed and pending acquisitions making it more difficult to maintain business and operational relationships; the risk that unexpected costs will be incurred in connection with the completion and/or integration of acquisition transactions; changes in expected closing dates, estimated purchase price and accretion for acquisitions; the risk that acquired businesses will not be integrated successfully; restrictions and limitations in connection with our indebtedness; our ability to maintain or achieve improvement in the Centers for Medicare and Medicaid Services (CMS) Star ratings and maintain or achieve improvement in other quality scores in each case that can impact revenue and future growth; availability of debt and equity financing, on terms that are favorable to us; inflation; foreign currency fluctuations; and risks and uncertainties discussed in the reports that Centene has filed with the Securities and Exchange Commission. This list of important factors is not intended to be exhaustive. We discuss certain of these matters more fully, as well as certain other factors that may affect our business operations, financial condition and results of operations, in our filings with the Securities and Exchange Commission (SEC), including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Due to these important factors and risks, we cannot give assurances with respect to our future performance, including without limitation our ability to maintain adequate premium levels or our ability to control our future medical and selling, general and administrative costs.

Cision View original content:http://www.prnewswire.com/news-releases/centene-and-pro-football-hall-of-fame-team-up-to-tackle-concerns-over-covid-19-vaccinations-301247182.html

SOURCE Centene Corporation

Chorus Aviation Finalizes Revisions to the Capacity Purchase Agreement With Air Canada

Canada NewsWire

Jazz is sole operator of Air Canada Express flights

  • 25 Embraer 175 aircraft to be added to the Covered Aircraft fleet, increasing the fixed fee margin.
  • Jazz to provide 100% of Air Canada Express 70+ seat regional capacity until 2025.
  • Dash 8-300 aircraft to exit the Covered Aircraft fleet.
  • Controllable cost guardrail receivable capped at $20 million per year, improving working capital; +/- $2.0 million exposure is unchanged.
  • All other material components of the CPA are unchanged.

HALIFAX, NS, March 15, 2021 /CNW/ – Chorus Aviation Inc. (TSX: CHR) (‘Chorus’), parent company of Jazz Aviation LP (‘Jazz’), today confirmed the condition precedent to the revisions of the capacity purchase agreement (‘CPA’) between Jazz and Air Canada announced on March 1, 2021 has been met. As a result, the amended CPA is effective on a retroactive basis to January 1, 2021. The newly ratified agreement with Jazz pilots, as represented by the Air line Pilots Association International, will run until December 31, 2035.

“I extend my gratitude to our Jazz pilots and the leadership team of the Air Line Pilots Association International for securing Jazz’s place within the Air Canada Express network. This is very good news for our employees and our stakeholders,” stated Joe Randell, President and Chief Executive Officer, Chorus. “As the sole operator of Air Canada Express services, we look forward to integrating the Embraer 175s into our fleet and further expanding our wide portfolio of regional aviation capabilities and services.”

Revisions to the CPA include the following:

Consolidation of 25 Embraer 175s into Jazz’s Covered Aircraft fleet

  • Jazz will operate the 25 E175s under the CPA.
  • Jazz is the exclusive Air Canada Express operator of 70+ seat aircraft until the end of 2025.
  • Fixed fees increase by $46.0 million over the term of the CPA with annual minimum fixed fees increasing by $1.2 million per year from 2021 to 2025, and by approximately $4.0 million per year from 2026 to 2035.

Removal of 19 Dash 8-300s from Jazz’s Covered Aircraft fleet

  • 19 Dash 8-300s will be removed from the fleet in 2021. Removal of the Dash 8-300s will reduce future aircraft leasing revenue under the CPA by approximately $56.0 million over the remaining term of the contract.
  • Chorus owns these Dash 8-300s, 15 of which have undergone the Extended Service Program (‘ESP’) which prolongs their useful life by approximately 15 years. Chorus estimates the carrying value of these aircraft to be approximately $65.0 million, and can sell, lease, or convert them for cargo operations.

Controllable Cost Guardrail Receivable

  • The controllable cost guardrail receivable is capped to a maximum of $20.0 million annually and is reconciled on a quarterly basis and paid in the following quarter. This will avoid the accumulation of a receivable in excess of the agreed maximum. The +/-$2.0 million controllable cost guardrail exposure is unchanged.

As a result of these revisions to the CPA, Chorus anticipates one-time costs, charges, and other fees to range between $100.0 million and $110.0 million, with approximately half of this range being non-cash in nature, and the cash portion paid over several years. The non-cash component includes an estimated $45.0 million impairment provision on the Dash 8-300s and supporting inventory, and a non-cash defined benefit pension curtailment expense related to the number and demographics of pilots opting for early retirement estimated to be between $10.0 and $15.0 million. Approximately $49.0 million in one-time cash costs are anticipated on account of cash payments to incentivize the early departure of Jazz senior pilots enrolled in the defined benefit pension plan, as well as a contract fee payable to Air Canada related to the transfer and integration of the E175 fleet.

Forward-Looking Information

This news release contains ‘forward-looking information’. Forward-looking information is identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “potential”, “project”, “will”, “would”, “should” and similar terms and phrases, including references to assumptions. Forward-looking information, by its nature, is based on assumptions regarding future events and circumstances, and is therefore subject to important risks and uncertainties that may cause actual results to differ materially from those expressed in forward-looking information. Actual results may differ materially from those expressed in this news release for a number of reasons, including the impact of the COVID-19 pandemic on Air Canada’s financial condition and prospects, the risk of disputes or defaults under the CPA, as well as the risk factors identified in Chorus’ most recent Management’s Discussion & Analysis and Annual Information Form and in Chorus’ public disclosure record available at www.sedar.com. The forward-looking information contained in this news release represents Chorus’ expectations as of the date of this news release (or as of the date otherwise stated) and is subject to change after such date. Chorus disclaims any intention or obligation to update or revise any forward-looking information except as required under applicable securities laws.

About Chorus Aviation Inc.

Chorus is a global provider of integrated regional aviation solutions. Chorus’ vision is to deliver regional aviation to the world. Headquartered in Halifax, Nova Scotia, Chorus is comprised of Chorus Aviation Capital a leading, global lessor of regional aircraft, and Jazz and Voyageur Aviation – companies that have long histories of safe operations with excellent customer service. Chorus provides a full suite of regional aviation support services that encompasses every stage of an aircraft’s lifecycle, including aircraft acquisitions and leasing; aircraft refurbishment, engineering, modification, repurposing and preparation; contract flying; aircraft and component maintenance, disassembly, and parts provisioning.

Chorus Class A Variable Voting Shares and Class B Voting Shares trade on the Toronto Stock Exchange under the trading symbol ‘CHR’. www.chorusaviation.com

SOURCE Chorus Aviation Inc.

Marker Therapeutics to Present at the Virtual Oppenheimer 31st Annual Healthcare Conference

PR Newswire

HOUSTON, March 15, 2021 /PRNewswire/ — Marker Therapeutics, Inc. (NASDAQ:MRKR), a clinical-stage immuno-oncology company specializing in the development of next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumor indications, today announced that its President and Chief Executive Officer, Peter L. Hoang, will present at the upcoming Virtual Oppenheimer 31st Annual Healthcare Conference on Wednesday, March 17, 2021 at 3:10 p.m. ET.

A live webcast of the presentation will be accessible from the Investors section of the company’s website at markertherapeutics.com and will be available for replay following the event.

About Marker Therapeutics, Inc.
Marker Therapeutics, Inc. is a clinical-stage immuno-oncology company specializing in the development of next-generation T cell-based immunotherapies for the treatment of hematological malignancies and solid tumor indications. Marker’s cell therapy technology is based on the selective expansion of non-engineered, tumor-specific T cells that recognize tumor associated antigens (i.e. tumor targets) and kill tumor cells expressing those targets. This population of T cells is designed to attack multiple tumor targets following infusion into patients and to activate the patient’s immune system to produce broad spectrum anti-tumor activity. Because Marker does not genetically engineer its T cell therapies, we believe that our product candidates will be easier and less expensive to manufacture, with reduced toxicities, compared to current engineered CAR-T and TCR-based approaches, and may provide patients with meaningful clinical benefit. As a result, Marker believes its portfolio of T cell therapies has a compelling product profile, as compared to current gene-modified CAR-T and TCR-based therapies.

To receive future press releases via email, please visit: https://www.markertherapeutics.com/email-alerts.

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SOURCE Marker Therapeutics, Inc.

Luminex Announces Commencement of Drilling at Two Copper Focused Properties

PR Newswire

Highlights:

  • Cascas – Luminex initiates 3,000 metre program focusing on the Shakai copper porphyry target
  • Tarqui – BHP initiates 2,000 metre program focusing on a copper porphyry target

VANCOUVER, BC, March 15, 2021 /PRNewswire/ – Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) (the “Company” or “Luminex”) is pleased to announce the commencement of two separate initial drill programs at Luminex’s Cascas and Tarqui projects in Ecuador. Luminex will execute the Cascas drill program and BHP will operate the Tarqui program.

Marshall Koval, Luminex CEO and Director, commented: “We are excited about the discovery potential of these two large, undrilled porphyry copper targets within this emerging copper belt. Both of our projects are on the same trend as the recently opened Mirador copper-gold mine, as well as the Warintza and Porvenir copper projects.”

Luminex is drilling at its 100% owned Cascas property under the Government of Ecuador’s Scout Drilling regime. The initial 3,000 metre program will test the Shakai target (Figure 1), which has been defined by:

  • Coincident copper and molybdenum anomalies in soil samples when contoured at 400ppm copper and 20ppm molybdenum respectively. These irregular anomalies cover an area of approximately 1.5km in diameter and are part of the larger 7km long soil copper and molybdenum anomaly at Cascas;
  • A ZTEM geophysics anomaly within the soil anomaly of <100 ohm-m starting at 300 metres depth; and
  • Outcropping copper mineralization in porphyry intrusive phases, alteration and quartz vein stock-working, consistent with a porphyry copper centre. Mapping is continuing around Shakai.

The initial drill hole will test the central area of the anomaly. The Shakai target is flanked to the northwest and southeast by additional copper and molybdenum anomalies and a large, conductive body (defined by ZTEM geophysics) starting at approximately 1,100m depth to the southwest.

Separately, BHP has commenced a program at Luminex’s Tarqui project. BHP is earning an initial 51% ownership stake by spending US$25 million on the project and paying Luminex US$2.4 million of cash payments between 2019 and 2023.

Qualified Persons

Leo Hathaway, P. Geo, Senior Vice President Exploration of Luminex and the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, verified and approved the scientific and technical information in this news release and has verified the data underlying that scientific and technical information.

About Luminex Resources

Luminex Resources Corp. (TSXV:LR, OTCQX:LUMIF) is a Vancouver, Canada based precious and base metals exploration and development company focused on gold and copper projects in Ecuador. Luminex’s inferred and indicated mineral resources are located at the Condor Gold-Copper project in Zamora-Chinchipe Province, southeast Ecuador. Luminex also holds a large and highly prospective land package in Ecuador, including the Tarqui and Pegasus projects, which are being co-developed with BHP Group plc and Anglo American respectively.

Further details are available on the Company’s website at https://luminexresources.com/.

To receive news releases please sign up at https://www.luminexresources.com/contact/contact-us/.

Signed: “Marshall Koval”



Marshall Koval,
CEO and Director

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

Cautionary Note Regarding Forward-Looking Information

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the Cascas and Tarqui drill programs and the metres that will be drilled at Cascas and Tarqui. Often, but not always, forward-looking statements or information can be identified by the use of phrases or statements that certain actions, events or results “will” occur or be achieved.

With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); and other risk factors as detailed from time to time in the Company’s continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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SOURCE Luminex Resources Corp.

Manulife Investment Management announces co-heads of junior credit for private markets

PR Newswire

TSX/NYSE/PSE: MFC     SEHK: 945

BOSTON, March 15, 2021 /PRNewswire/ – Manulife Investment Management announced today that Joshua Liebow and Mateusz (Matt) Szwarc have been named co-heads of junior credit for private markets. For decades, Manulife Investment Management has provided junior capital in the market, lending and investing alongside private equity sponsors providing patient, noncontrolling junior credit capital—including traditional subordinated and second-lien debt and structured equity—to established businesses.

As co-heads of junior credit, Josh and Matt will be contributing to the development of specialized funds, separately managed accounts and other investment products for Manulife Investment Management’s global institutional client base. Manulife Investment Management’s comprehensive private markets capabilities include private equity and credit, real estate, infrastructure, timber and agriculture.

Josh joined Manulife Investment Management in 2004. Prior to this announcement, he was a Managing Director, equity co-investments and junior credit. Previously, he also spent three years as a member of the John Hancock North American Corporate Finance transportation team. He is a graduate of Babson College and is a CFA charterholder.

Matt joined Manulife Investment Management in 2013. Prior to this announcement, he was a Managing Director, equity co-investments and junior credit. A graduate of Boston College, he also earned an M.B.A. from Kellogg School of Management at Northwestern University and has nearly two decades of private credit and equity investment experience.

“I am grateful for Josh and Matt’s leadership and have confidence that the depth and breadth of their experience will position them for success,” said Vipon Ghai, Global Head of Private Equity and Credit, Manulife Investment Management. “I am excited about the future as we continue to grow Manulife Investment Management’s private markets capabilities.”

About Manulife Investment Management 

Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 17 countries and territories. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement.  

As of December 31, 2020, Manulife Investment Management had CAD$966 billion (US$758 billion) in assets under management and administration. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com

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SOURCE Manulife Investment Management

OTC Markets Group Welcomes T Stamp Inc. to OTCQX

PR Newswire

NEW YORK, March 15, 2021 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 11,000 U.S. and global securities, today announced T Stamp Inc. (OTCQX: IDAI), a global provider of AI-powered identity services for use in multiple sectors, has qualified to trade on the OTCQX® Best Market. T Stamp upgraded to OTCQX from the Pink® market.

T Stamp begins trading today on OTCQX under the symbol “IDAI.”  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

Gareth Genner, CEO and Co-Founder of Trust Stamp commented: “In parallel to our ambitious strategy for global growth, we are committed to growing visibility and liquidity for our stock while maintaining trust, enhancing transparency, and increasing Shareholder value. Trading on OTCQX will make it convenient and affordable for even more supporters to join our journey, and the impetus to do so has come from the strong interest expressed over the last year by many current and potential shareholders.” 

B. Riley Securities, Inc. acted as the company’s OTCQX sponsor.

About T Stamp Inc.
Trust Stamp is a global provider of AI-powered identity services for use in multiple sectors including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services. Its technology empowers organisations with biometric identity solutions that reduce fraud, protect personal data privacy, increase operational efficiency and reach a broader base of users worldwide through its unique data transformation and comparison capabilities.

Located in six countries across North America, Europe and Asia, Trust Stamp is listed on Euronext Growth in Dublin (Euronext Growth: AIID ID) and trades on the OTCQX Best Market (OTCQX: IDAI). Founded in 2016 by Gareth Genner and Andrew Gowasack, the company now employs over 60 people with flagship customers including Mastercard International, Synchrony Financial, and FIS.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities.  Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services.  We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.

Subscribe to the OTC Markets RSS Feed 

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, [email protected] 

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SOURCE OTC Markets Group Inc.

Bio-Techne Announces ISO 9001:2015 Certification for its Bristol Manufacturing Facility.

PR Newswire

MINNEAPOLIS, March 15, 2021 /PRNewswire/ — Bio-Techne Corporation (NASDAQ: TECH), a global life sciences company providing innovative tools and bioactive reagents for the research and clinical diagnostic communities, today announced that its Bristol site in the United Kingdom received ISO 9001:2015 Quality Management Systems certification. Bio-Techne’s Bristol facility produces life science reagents for research use. This certification is widely recognized internationally as a standard for Quality Management Systems. This achievement provides additional assurances to our customers that key components for use in their processes are consistently designed and manufactured to meet their requirements.

ISO 9001:2015 is an internationally recognized quality standard intended to ensure the consistent design, development, production, and sale of products that are fit for purpose as per intended use. To be certified, organizations must demonstrate that their Quality Management Systems are able to provide products and related services that consistently meet customer and applicable regulatory requirements.

“We strive for the highest level of quality and consistency throughout Bio-Techne,” said Chuck Kummeth, President and Chief Executive Officer of Bio-Techne. “Receiving ISO 9001:2015 certification for our Bristol site speaks to the high standards throughout the organization and our focus on developing, manufacturing, and commercializing top quality products. Congratulations to the Bristol team for receiving this recognition.”


About Bio-Techne Corporation
 (NASDAQ: TECH)

Contact: 

David Clair, Senior Director, Investor relations and Corporate Development



[email protected]

612-656-4416 

 

 

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SOURCE Bio-Techne Corporation

Summit Industrial Income REIT to Acquire Prime Montreal Property for $183.3 Million

Canada NewsWire

TORONTO, ON, March 15, 2021 /CNW/ – Summit Industrial Income REIT (“Summit” or the “REIT”) (TSX: SMU.UN) announced today that it has waived conditions and will acquire 100% of a modern 765,145 square foot logistics and office complex well-located in Saint-Laurent, Quebec, a suburb of the Greater Montreal Region. Minutes from Montreal-Trudeau Airport and with excellent access to major highway and railway transportation links, the property contains 534,111 square feet of next-generation logistics space and 231,034 square feet of Class A office space. The property is 100% occupied by two institutional-grade global tenants with a 10.5-year average remaining lease term including 10% rental increases every five years. Summit will pay $183.3 million in cash for the property, well below replacement cost, generating a going-in capitalization rate of approximately 4.5%. Closing is expected in April 2021.

Located in the heart of the Saint-Laurent Industrial Park, this best-in-class logistics space features 37-foot clear ceiling heights, 52 truck-level doors, one drive-in door, 30 trailer parking stalls, electric vehicle charging and sophisticated moveable mezzanine space ideal for e-commerce logistics. The space is occupied by a single tenant, a global e-commerce luxury goods platform operating in more than 150 countries with 9 years remaining on its lease.  

The three-storey Class A office building provides a world-class modern environment including ample green space, a sky-lit three-level atrium, gourmet kitchen and underground parking. The office tenant, the world’s largest privately-owned security services company, has a long-term commitment in the space with 14 years remaining on its lease.

Encompassing over 35 acres, the property has a modest 37% site coverage, providing the opportunity for potential future expansion.

“This highly-accretive acquisition, occupied by institutional-grade tenants under long-term leases, significantly enhances our presence in Canada’s second largest industrial market,” commented Dayna Gibbs, Chief Operating Officer. “Looking ahead, the 10% contractual rent increases every five years will enhance returns generated by the property, making a significant contribution to our cash flow going forward.”

The REIT also announced today that it has agreed to sell a non-core 30,411 square foot industrial property in Edmonton, Alberta for $5.0 million, above the REIT’s IFRS book value for the property. Closing of this sale transaction is expected by the end of March 2021.

About Summit
Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties across Canada. Summit’s units are listed on the TSX and trade under the symbol SMU.UN. For more information, please visit our web site at www.summitIIreit.com.

Caution Regarding Forward Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends”, “goal” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning the goal to build Summit’s property portfolio. The forward-looking statements and information are based on certain key expectations and assumptions made by Summit, including general economic conditions. Although Summit believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Summit can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed and given the impact of the COVID-19 pandemic and government measures to contain it, there is inherently more uncertainty associated with the REIT’s assumptions as compared to prior periods. These risks and uncertainties include, but are not limited to, tenant risks, current economic environment, environmental matters, general insured and uninsured risks and Summit being unable to obtain any required financing and approvals. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. Summit undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Summit Industrial Income REIT