Market Newsdesk

VANCOUVER, BC, March 31, 2021 /PRNewswire/ – Willow Biosciences Inc. (“Willow” or the “Company“) (TSX: WLLW) (OTCQX: CANSF) is pleased to announce that it has completed the first commercial scale fermentation run of its first cannabinoid for market, cannabigerol (“CBG“).

“We are very pleased with the yield and quality of our first commercial scale fermentation run of CBG,” said Trevor Peters, Willow’s President and Chief Executive Officer. “I think it is important to take a moment to reflect on all that we have achieved in just under two years as a public company. In this time, we built a world class industrial R&D team, demonstrated proof of concept for production of cannabinoids through fermentation, attracted reputable development partners like Albany Molecular Research, Inc., and produced our first commercial scale batch of CBG. On the capital markets side, we have completed three successful financings bringing in supportive and sophisticated shareholders who have provided us with a healthy balance sheet to execute on our business plan. We are now starting the next phase of Willow’s lifecycle, which will involve supplying commercial quantities of cannabinoids to customers and recognizing revenue therefrom.”

In December 2020 the Company announced that it had selected a highly regarded contract manufacturing organization (“CMO“) to commercially produce Willow’s CBG at their European facilities. Since that time, Willow has tech-transferred its proprietary yeast strain and process to the CMO’s facilities and run multiple pilot production batches to further optimize the process and provide additional samples of CBG to prospective customers. Our process continues to provide high-purity CBG with no detectable tetrahydrocannabinol (THC) or any other cannabinoids. Production from our first commercial fermentation run is earmarked for sale to prospective customers and the Company is in the process of finalizing agreements with multiple parties. Willow will continue production with its CMO throughout 2021 to meet anticipated demand of our ultra-pure CBG.

Willow plans to be a market leader in providing ultra-pure, sustainably produced cannabinoids to the world, and procuring third party safety and activity data on our products is an important and necessary step to achieve that goal. Since October of last year, the Company has been working with Signum Biosciences, Inc., a leading biopharmaceutical company focused on the discovery and development of innovative consumer products, in order to demonstrate the safety and activity of Willow’s CBG as a cosmetic ingredient. Preliminary data has shown that Willow’s CBG is safe and can act as a potent antioxidant, anti-inflammatory and antibacterial in skin applications. The Company will provide a more detailed update on these exciting results once the clinical work is complete.  

About Willow Biosciences Inc.

Willow is a Canadian biotechnology company based in Vancouver, British Columbia that develops and produces high-purity, plant derived ingredients for consumer care, food and beverage, and pharmaceutical products. Willow’s manufacturing process creates a consistent, scalable and sustainable product that benefits industry and consumers. Willow’s team has a proven track record of developing and commercializing bio-based manufacturing processes and products for both the consumer and pharmaceutical industries.

Forward-Looking Statements

This news release may include forward-looking statements including opinions, assumptions, estimates and the Company’s assessment of future plans and operations, and, more particularly, statements concerning: Willow’s milestone projections, including the timing of first sales and revenue generation; discussions with consumer-packaged goods entities, manufacturing partners and other key stakeholders, including the successful negotiation of supply agreements with potential customers; the market size potential of the synthetic cannabinoid industry and Willow’s ability to capture market share; demand for Willow’s products; the safety and efficacy of Willow’s CBG, including the results of Signum Bioscience Inc.’s clinical testing on Willow’s CBG; and the business plan of the Company, generally, including cannabinoid research and production. When used in this news release, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company which include, but are not limited to: the success of Willow’s strategic partnerships, including the development of future strategic partnerships; the financial strength of the Company; the ability of the Company to fund its business plan using cash on hand and existing resources; the market for Willow’s products; the ability of the Company to obtain and retain applicable licences; the ability of the Company to obtain suitable manufacturing partners and other strategic relationships; and the successful implementation of Willow’s production strategy, generally. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, risks associated with: the cannabinoid industry in general; the success of the Company’s research and development strategies; infringement on intellectual property; failure to benefit from partnerships or successfully integrate acquisitions; actions and initiatives of federal and provincial governments and changes to government policies and the execution and impact of these actions, initiatives and policies; import/export and research restrictions for cannabinoid-based operations; the size of the medical-use and adult-use cannabinoid market; competition from other industry participants; adverse U.S., Canadian and global economic conditions; adverse global events and public-health crises, including the current COVID-19 outbreak; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the AIF and the MD&A for additional risk factors relating to Willow, which can be accessed either on Willow’s website at www.willowbio.com or under the Company’s profile on www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

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SOURCE Willow Biosciences Inc.

SEATTLE, March 31, 2021 /PRNewswire/ — CTI BioPharma Corp. (Nasdaq: CTIC) today announced that it has completed a rolling New Drug Application (“NDA”) submission to the U.S. Food and Drug Administration (“FDA”) seeking approval of pacritinib as a treatment for myelofibrosis patients with severe thrombocytopenia (platelet counts less than 50 x 10⁹/L). CTI had previously announced the results of a pre-NDA meeting with FDA where agreement was reached on an NDA submission package based upon available data from the completed Phase 3 PERSIST-1 and PERSIST-2 trials and the Phase 2 PAC203 trials.

“The completion of the pacritinib NDA submission is the result of many years of clinical research and a collaborative and constructive dialogue with the FDA on how pacritinib could address the unmet medical need of myelofibrosis (“MF”) patients with severe thrombocytopenia. MF patients with severe thrombocytopenia experience poor treatment outcomes, primarily due to their severely cytopenic disease and the significant limitations of approved therapies,” said Adam R. Craig, M.D., Ph.D., President and Chief Executive Officer of CTI BioPharma. “CTI has initiated pre-commercialization activities and has completed the hiring of a commercial leadership team. Assuming a successful priority review of the NDA, we are preparing for a commercial launch of pacritinib before the end of 2021. We look forward to providing updates on the NDA and our commercialization plans over the coming months.”

About Myelofibrosis and Severe Thrombocytopenia
Myelofibrosis is a type of bone marrow cancer that results in formation of fibrous scar tissue and can lead to severe cytopenias, including thrombocytopenia and anemia, as well as weakness, fatigue and an enlarged spleen and liver. Patients with severe thrombocytopenia are estimated to make up more than one-third of patients treated for myelofibrosis, or approximately 17,000 people in the United States and Europe. Severe thrombocytopenia, defined as blood platelet counts of less than 50,000 per microliter, has been shown to result in overall survival rates of just 15 months. Thrombocytopenia in patients with myelofibrosis is associated with the underlying disease but has also been shown to correlate with treatment with ruxolitinib, which can lead to dose reductions, and as a result, may potentially reduce clinical benefit. Survival in patients who have discontinued ruxolitinib therapy is further compromised, with an average overall survival of seven to 14 months. Myelofibrosis patients with severe thrombocytopenia have limited treatment options, creating a significant area of unmet medical need.

About Pacritinib
Pacritinib is an investigational oral kinase inhibitor with specificity for JAK2, IRAK1, and CSF1R. The JAK family of enzymes is a central component in signal transduction pathways, which are critical to normal blood cell growth and development, as well as inflammatory cytokine expression and immune responses. Mutations in these kinases have been shown to be directly related to the development of a variety of blood-related cancers, including myeloproliferative neoplasms, leukemia, and lymphoma. In addition to myelofibrosis, the kinase profile of pacritinib suggests its potential therapeutic utility in conditions such as acute myeloid leukemia (AML), myelodysplastic syndrome (MDS), chronic myelomonocytic leukemia (CMML), and chronic lymphocytic leukemia (CLL), due to its inhibition of c-fms, IRAK1, JAK2 and FLT3.

About CTI BioPharma Corp.
We are a biopharmaceutical company focused on the acquisition, development and commercialization of novel targeted therapies for blood-related cancers that offer a unique benefit to patients and their healthcare providers. We concentrate our efforts on treatments that target blood-related cancers where there is an unmet medical need. In particular, we are focused on evaluating pacritinib, our sole product candidate currently in active development, for the treatment of adult patients with myelofibrosis. In addition, are developing pacritinib for use the prevention of acute graft versus host disease and in hospitalized patients with severe COVID-19, in response to the COVID-19 pandemic. We are headquartered in Seattle, Washington.

Forward-Looking Statements
Statements included in this press release that are not historical in nature are 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 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current assumptions that involve risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: our ability to conduct and complete clinical trials in our currently anticipated timeframes; our ability to successfully demonstrate the safety and efficacy of pacritinib; our expectations regarding the completion and outcome of our PACIFICA Phase 3 trial and our PRE-VENT Phase 3 trial; the risk that the FDA may determine that the benefit/risk profile of pacritinib at the dose selected for the PACIFICA Phase 3 trial does not support approval; the risk that the FDA may determine that the benefit/risk profile of pacritinib in the PRE-VENT Phase 3 trial does not support approval or requires additional clinical data for approval; the risk that pacritinib may fail in its development through our PACIFICA and PRE-VENT trial; our ability to receive regulatory approval for pacritinib pursuant to the accelerated approval pathway or at all; the risk that pacritinib may be delayed to a point where it is not commercially viable; the accuracy of our assumptions regarding our planned expenditures and sufficiency of our cash to fund operations; risks and uncertainties related to the COVID-19 pandemic as it relates to our operations and ongoing clinical trials; and those risks more fully discussed in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020 and subsequent reports filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and we assume no obligation to update these forward-looking statements, and readers are cautioned not to place undue reliance on such forward-looking statements. “CTI BioPharma” and the CTI BioPharma logo are registered trademarks or trademarks of CTI BioPharma Corp. in various jurisdictions. All other trademarks belong to their respective owner.

CTI BioPharma Investor Contacts:

Maeve Conneighton/Maghan Meyers
+212-600-1902
[email protected]

 

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SOURCE CTI BioPharma Corp.

• Exro will launch a facility in Calgary featuring 37,000 square feet of production lines, product showrooms, and office spaces
• The new facility will have the capability to produce up to 100,000 units per year across all the Coil Driver products with automotive industry certifications
• Opening targeted for late Q4 2021 and automotive certified production by the end of 2022

CALGARY, AB, March 31, 2021 /PRNewswire/ – Exro Technologies Inc. (TSXV: EXRO) (OTCQB: EXROF) (the “Company” or “Exro”), a leading clean technology company which has developed a new class of power electronics for electric motors and batteries, is pleased to announce it is launching a facility (the “facility” or “new facility”) in Calgary with automotive class manufacturing.

The new facility will feature 37,000 square feet of production lines, product showrooms, and office spaces capable of producing units for the entire Coil Driver product line. The facility will also embrace clean energy solutions including solar power and battery energy storage solutions with a net zero carbon emissions objective. This will bring new clean technology jobs to Calgary across functions like engineering, operations, supply chain, and more.

Providing a foundation for the Company to grow over the next three years, the capacity of the facility is being designed to deliver up to an estimated 100,000 units per year across all the Coil Driver products, encompassing the entire product roadmap. This supports Exro’s strategic milestones to focus on low-volume manufacturing while still utilizing manufacturing partners and licensing contracts for future high-volume manufacturing.

The opening of the new facility will set the stage for Exro to execute on its strategic roadmap as a supplier to the automotive industry. It will be outfitted to meet certifications for ISO 9001:2015¹, IATF 16949², and ISO 26262³ compliant product development. This is a major step forward for the Company in delivering high-quality and reliable commercial products to the regulated consumer automotive markets.

Functional safety and quality management system planning is already underway and will be held to the highest regard to meet the expectations for optimized product delivery. The doors are planning to be opened before the end of 2021 for employees and automotive certified production by the end of 2022.

“The launching of our new facility in Calgary is a reflection of our dedication to execute on our deliverables,” commented Sue Ozdemir, Chief Executive Officer of Exro. “This substantiates our cost-effective automotive market strategy and further establishes Exro’s position as a power electronics company.”

Exro’s current Calgary facility will continue to be a source for low-volume commercial products to the less regulated mobility applications with in-house design, testing, and assembly. It will remain the core innovation center for research and development, design and testing, and piloting prototypes for Coil Drivers, Battery Control Systems, and future technologies.

About Exro Technologies
 
Inc.

Exro is a clean technology company pioneering intelligent control solutions in power electronics to help solve the most challenging problems in electrification. Exro has developed a new class of control technology that expands the capabilities of electric motors, generators, and batteries. Exro enables the application to achieve more with less energy consumed.

Exro’s advanced motor control technology, the Coil Driver, expands the capabilities of powertrains by enabling two separate torque profiles within a given motor. A major advancement in the sector, dynamic motor configuration enables efficiency optimization for each operating mode resulting in reduction of energy consumption. The controller automatically selects the appropriate configuration in real time so that power and efficiency are intelligently optimized.

For more information visit our website at www.exro.com.

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ON BEHALF OF THE BOARD OF DIRECTORS

Sue Ozdemir, Chief Executive Officer

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither 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 release.

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SOURCE Exro Technologies Inc.

MONTRÉAL, March 31, 2021 /PRNewswire/ – Ortho Regenerative Technologies Inc. (CSE: ORTH) (OTCQB: ORTIF) (“Ortho RTI” or the “Company“), a clinical stage orthobiologics company focused on the development of novel soft tissue repair regenerative technologies, announced today that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (“DTC”) in the United States.  

“Securing DTC eligibility is an important step of our strategy to facilitate the trading of our common shares for U.S investors and brokerage firms. This will allow for faster execution and improved liquidity, which in turn will help with broadening our investor base”, said Claude LeDuc, Ortho RTI’s President and CEO.

DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered “DTC eligible”. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.      

About Ortho Regenerative Technologies Inc.  

Ortho RTI is a clinical stage orthobiologics company dedicated to the development of novel therapeutic soft tissue repair technologies to dramatically improve the success rate of orthopedic and sports medicine surgeries. Our proprietary RESTORE technology platform is a proprietary muco-adhesive Chitosan-based biopolymer matrix, specifically designed to deliver biologics such as Platelet-Rich Plasma (PRP) or Bone Marrow Aspirate Concentrate (BMAC), to augment and guide the regeneration of new tissue in various musculoskeletal conditions. Ortho-R, our lead Chitosan-PRP hybrid drug/biologic implant combination product, is formulated and designed to increase the healing rates of occupational and sports related injuries to tendons, meniscus and ligaments. Other formulations are being developed for cartilage repair, bone void filling and osteoarthritis treatment. The proprietary Chitosan-PRP combination ORTHO-R implant can be directly applied into the site of injury by a surgeon during a routine operative procedure without significantly extending the time of the surgery and without further intervention. A multi- site US Ortho-R Rotator Cuff Tear Repair Pilot Phase I/II clinical trial is being planned and organized. In parallel, an FDA IND submission is planned for Q1-2021. Considering the significant potential of our technology platform, Ortho RTI continues to assess new therapeutic target uses outside of the soft tissue repair field. Further information about Ortho RTI is available on the Company’s website at www.orthorti.com and on SEDAR at www.sedar.com. Also follow us on LinkedIn and Twitter.     

Forward-Looking Statements    

This news release may contain certain forward-looking statements regarding the Company’s expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.   

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.  

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SOURCE Ortho Regenerative Technologies Inc.

SMITHS FALLS, ON, March 31, 2021 /PRNewswire/ – Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) is pleased to announce that Sumayyah Emeh-Edu will be joining the company in the newly created role of Vice President of Diversity, Equity, and Inclusion. In this role, Emeh-Edu will be responsible for enhancing diversity, equity, and inclusion awareness and programs across Canopy’s business and regions.

“We are incredibly excited to welcome Sumayyah to Canopy Growth,” said David Klein, CEO, Canopy Growth Corporation. “We sought a true collaborator and leader to further actualize Canopy’s commitment to inclusion within the cannabis industry and equitable access to the benefits of legalization. Achieving progress towards diversity, equity, and inclusion initiatives will be a journey that requires the contributions of all Canopy employees and hiring Sumayyah is a critical step in that journey.”

Bringing robust experience in both employee development and diversity and inclusion, Emeh-Edu most recently served as the Director of Diversity & Inclusion Strategy at Charles Schwab. In this role, she was charged with developing company-wide accessibility resources, workshop content and curriculum, and supporting executive-owned diversity and inclusion plans. Prior to Charles Schwab, Emeh-Edu was the Principal D&I Strategist of Embedded Consulting, where she partnered with clients such as Oracle, One Medical, NPR station KQED, and Blue Shield of California.

“Sumayyah brings a wealth of experience in both internal and external diversity and inclusion initiatives, and Canopy Growth will benefit greatly from her counsel as we continue to evolve into a workforce that mirrors the markets and communities we serve,” said Holly Lukavsky, Chief Human Resources Officer. “As we strive to advance our mission of improving lives through cannabis, which includes ending cannabis prohibition, we are excited to bring on a talented leader like Sumayyah whose experience will be essential to supporting our business and social justice priorities.”

While cannabis and CBD industries have flourished, the history of racial inequities surrounding cannabis prohibition and the resulting disproportionate social justice consequences create a responsibility and necessity for Canopy to lead in diversity, equity, and inclusion for the global industry. This commitment will be further realized through Emeh-Edu’s role, as she will be focused on ensuring diversity, equity, and inclusion priorities are reflected and measured throughout Canopy, with a priority on implementing talent-driven practices fundamental to an open and inclusive environment. Emeh-Edu is charged with providing consultative strategy and guidance for Canopy with the goal of further empowering the company to address complex business and social realities related to cannabis through a truly inclusive workforce.

“I am inspired and excited to be leading Canopy’s approach to diversity, equity, and inclusion and embrace this as an opportunity to enable people from traditionally marginalized groups to not only participate but benefit from an industry where criminalization has historically negatively impacted them,” noted Emeh-Edu. “I see the power of cannabis in improving people’s quality of life and am eager to work with the leadership and workforce of Canopy to co-create an environment capable of addressing complex issues while cultivating spaces and tools that instill diversity and inclusion into every facet of our industry.”

About Canopy Growth Corporation

Canopy Growth (TSX:WEED,NASDAQ:CGC) is a world-leading diversified cannabis and cannabinoid-based consumer product company, driven by a passion to improve lives, end prohibition, and strengthen communities by unleashing the full potential of cannabis. Leveraging consumer insights and innovation, we offer product varieties in high quality dried flower, oil, softgel capsule, infused beverage, edible, and topical formats, as well as vaporizer devices by Canopy Growth and industry-leader Storz & Bickel. Our global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products using its colour-coded classification system and is a market leader in both Canada and Germany. Through our award-winning Tweed and Tokyo Smoke banners, we reach our adult-use consumers and have built a loyal following by focusing on top quality products and meaningful customer relationships. Canopy Growth has entered into the health and wellness consumer space in key markets including Canada, the United States, and Europe through BioSteel sports nutrition, and This Works skin and sleep solutions; and has introduced additional federally-permissible CBD products to the United States through our First & Free and Martha Stewart CBD brands. Canopy Growth has an established partnership with Fortune 500 alcohol leader Constellation Brands. For more information visit www.canopygrowth.com.

Notice Regarding Forward Looking Statements

This press release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable U.S. and Canadian securities laws (collectively, “forward-looking statements”), which involve certain known and unknown risks and uncertainties. Forward-looking statements predict or describe our future operations, business plans, business and investment strategies and the performance of our investments. These forward-looking statements are generally identified by their use of such terms and phrases as “intend,” “goal,” “strategy,” “estimate,” “expect,” “project,” “projections,” “forecasts,” “plans,” “seeks,” “anticipates,” “potential,” “proposed,” “will,” “should,” “could,” “would,” “may,” “likely,” “designed to,” “foreseeable future,” “believe,” “scheduled” and other similar expressions. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Forward–looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, financial results, results, performance or achievements expressed or implied by those forward–looking statements and the forward–looking statements are not guarantees of future performance. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. A discussion of some of the material factors applicable to Canopy Growth Corporation (“Canopy”) can be found under the section entitled “Risk Factors” in Canopy’s Annual Report on Form 10-K for the year ended March 31, 2020, filed with the Securities and Exchange Commission and with applicable Canadian securities regulators, as such factors may be further updated from time to time in its periodic filings with the Securities and Exchange Commission and with applicable Canadian securities regulators, which can be accessed at www.sec.gov/edgar and www.sedar.com, respectively. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the filings. Any forward–looking statement included in this press release is made as of the date of this press release and, except as required by law, Canopy disclaims any obligation to update or revise any forward– looking statement. Readers are cautioned not to put undue reliance on any forward–looking statement. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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SOURCE Canopy Growth Corporation

TORONTO, March 31, 2021 /CNW/ – As the Canadian fintech sector looks to rebound from challenges brought on by the pandemic, its future global strength will depend, in part, on the willingness and ability of all ecosystem players to foster innovation, collaborate and expand internationally, finds a new report from Accenture (NYSE: ACN).

The global report, Collaborating to Win in Canada’s Fintech Ecosystem, benchmarks four Canadian technology hubs against 16 other leading and emerging fintech hubs around the world. Overall, Toronto ranked 8^th, Vancouver 12^th, Montreal 14^th and Calgary 16^th out of 20. The report also examines global investment growth trends across all hubs, noting that that Canada punches above its weight in terms of number of deals closed while total deal value is more subdued compared to leading global hubs.

The analysis found that Canadian cities are already benefitting from strong foundations provided by government support and high-quality talent, but they are behind tech hubs such as Hong Kong, London and Singapore when it comes to overall fintech adoption.

“We are optimistic about the future potential of the Canadian fintech ecosystem and the role of startups and other institutions in how they embrace change that will benefit the overall financial services industry in Canada,” said Robert Vokes, senior managing director and financial services lead at Accenture in Canada. “Canada has much to learn and much to contribute to our global peers, including those who are developing open banking, digital identity and data portability solutions. Our ecosystem of Canadian fintechs, major financial institutions and policymakers are coming together to transform and reinvent business models that address the changing digital habits of Canadians – they are shaping and developing future standards that will support the industry while preserving the strength of our financial system.”

The report used a proprietary benchmarking model to identify how Calgary, Montreal, Toronto and Vancouver performed in comparison to global peers, distilled into five key metrics:

• Government Support: All four Canadian hubs performed relatively well due to high-quality national regulation and the ease of starting a business in Canada.
• Business Ecosystem Maturity: Canadian hubs trail others in attracting a greater degree of foreign direct investment. A renewed focus on encouraging and retaining cross-border investment may also benefit Canadian hubs given the negative impact of COVID-19 on 2020 fintech deals.
• Fintech Activity and Financing: Canadian hubs scored lowest in this area while Silicon Valley took the top spot. Canadian cities and governments should consider continued promotion of regional fintech investment and the attraction of VCs to increase competitiveness in this area.
• Talent Pool and Innovation: Toronto is a close second after Berlin. Canadian hubs could improve their overall score in talent pool and innovation with more focus on the commercialization of homegrown technology through greater collaboration between academia and industry.
• Technology Availability and Adoption: Canada lags many of its U.S. and Asian peers due to high speed internet connectivity challenges for remote populations. Canadian hubs could improve by looking at how leaders such as Hong Kong, Silicon Valley and Tel Aviv encourage businesses to embrace disruption and develop products and services based on the latest technologies, e.g., fintech-friendly policies and incentives.

“As we look beyond the pandemic, the Canadian financial services ecosystem remains poised to grow. Canadian fintechs are adopting a borderless mentality, raising international investor interest, while financial institutions are taking on the mindset of technology companies now more than ever,” said Vikas Shreedhar, managing director and cloud leader at Accenture in Canada. “With both market and regulatory forces pushing Canadian fintechs into the spotlight, the financial services ecosystem will have the potential to deliver the most personalized and seamless digital experiences Canadians have ever seen thanks to advances in cloud, artificial intelligence and application programming interface capabilities.”

Closing the gap between Canada and leading global fintech hubs will take a patient, coordinated effort across the ecosystem. To ensure Canadian fintechs and financial institutions learn from 2020 and use their momentum to emerge from the downturn even stronger than before, the report identified three thematic areas that will be key:

• Advance the Innovation Agenda: Despite world-class institutions and substantial public investments in research and training, Canada continues to struggle with scaling these startups into high-tech, homegrown multinationals. Further development of regulatory sandboxes could be one approach that benefits innovative companies while balancing the public interests of financial stability and security.
• Strive for Global Ambitions: Further accelerating the growth of Canada’s financial services ecosystem will require not only cross-border talent but doubling down on international expertise and capital as well. Canadian fintechs are increasingly looking to grow beyond Canada with a “borderless” mentality, raising international investor interest in the Canadian ecosystem. Foreign participation in Canadian fintech deals has also been a significant contributing factor to maintaining Canadian hubs’ position among the fastest growing in the world.
• Come Together to Win: Canadians’ digital behaviour and fintech adoption accelerated significantly during the pandemic, raising concerns about digital privacy and security. To address changing consumer habits, fintechs and financial institutions are increasingly identifying novel opportunities to work together. Leveraging banking-as-a-service platforms means that non-bank brands may also find themselves reaching into the industry using new models in collaboration with banks. As industry boundaries blur, leaders will offer more products and experiences by working together at the intersection of their respective strengths.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 537,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com. 

Copyright © 2021 Accenture. All rights reserved. Accenture and its logo are registered trademarks of Accenture.

SOURCE Accenture

Launches Industry Leading Solutions to Influencers in India and Thailand

VANCOUVER, BC, March 31, 2021 /PRNewswire/ – BBTV Holdings Inc. (TSX: BBTV) (OTCQX: BBTVF) (“BBTV” or the “Company”) is the leader in influencer monetization which provides a one stop comprehensive solution, helping influencers earn income from the content that they create and become more successful. Today it announces:

• Expansion into key markets India and Thailand, further accelerating the company’s market leading position. BBTV now has local presence in 30 countries, providing solutions in 12 languages.
• International expansion and market diversification is a key driver of BBTV’s ongoing growth, and this launch will further extend BBTV’s viewership and monetization to influencers in India and Thailand.
• Based on projections, digital video ad spending in India is expected to show market volume of US$397m by 2025¹, and reach US$131m by 2025² in Thailand.

“Expansion into new territories and content verticals is a key pillar of our growth strategy, enabling us to tap into an even larger global ad market.,” comments Shahrzad Rafati, Chairperson & CEO, BBTV. “India in particular is a critical market for international expansion as the country’s multi-billion dollar digital advertising industry is undergoing burgeoning growth.”

BBTV is a true global leader in its space. In January 2021, the company had the second most unique monthly viewers among digital platforms with more than 600 million globally, who consumed more than 50 billion minutes of video content. BBTV achieves 40bn monthly views which provides a strong baseline for monetization across BBTV’s Plus Solutions.

For more information, please visit bbtv.com.

About BBTV
BBTV is a media and technology company headquartered in Vancouver, Canada. The company’s mission is to help influencers become more successful. With influencers ranging from individual content creators to global media companies, BBTV provides a comprehensive, end-to-end solution to increase viewership and drive revenue powered by its innovative technology, while allowing influencers to focus on their core competency – content creation. In January 2021, BBTV had the second most unique monthly viewers among digital platforms with more than 600 million globally, who consumed approximately 50 billion minutes of video content, the most among media companies (www.bbtv.com) ^[1].

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking information”) which reflects the Company’s current expectations regarding future events, including the Company’s expansion into Thailand and India, total addressable market revenues in 2021, the Company’s use of technology enabled solutions to help influencers earn income from the content that they create and become more successful, and the Company’s mission to help influencers become more successful. Forward-looking information is necessarily based on a number of estimates and assumptions that we consider appropriate and reasonable as of the date such information is given, including but not limited to our assumption that statistics and projections reported by third parties are accurate and reasonable, our assumptions regarding continued changes and trends in our industry or the global economy, and the performance of our technology and strategic partners. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control, that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk that our assumptions on which our forward-looking information is based may not be accurate, the effect of competition, that historical or previous results are not necessarily indicative of future results, as well as the factors discussed under “Risk Factors” in the final prospectus of the Company dated October 22, 2020 filed on sedar at www.sedar.com and in our other filings with the Canadian securities regulatory authorities at www.sedar.com. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

 Media Contacts

Dan Gamble

Head of PR & Corporate Communications
[email protected]
+1778 873 0422

Ashley Buck

PR and Corporate Communications Specialist
[email protected]
+17788751346

BBTV-C

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SOURCE BBTV Holdings Inc.

TORONTO, March 31, 2021 /CNW/ – Boat Rocker Media Inc. (“Boat Rocker” or the “Company”) (TSX: BRMI), an independent, integrated global entertainment company, today reported its financial results for the fourth quarter and year ended December 31, 2020. The Company’s audited financial statements and accompanying notes and Management’s Discussion and Analysis (“MD&A”) for the three-month period and year ended December 31, 2020 are available under the Company’s profile on SEDAR (www.sedar.com). All dollar amounts are expressed in Canadian currency, unless otherwise noted. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures (see “Non-IFRS Measures” below).

Selected Financial Highlights

• Revenue of $55.6 million in Q4 2020 vs $59.4 million in Q4 2019. Full year 2020 revenue of $226.8 million vs $244.2 million in 2019.
• Net loss of $0.4 million in Q4 2020 vs net loss of $6.2 million in Q4 2019. Full year 2020 net loss of $44.0 million vs net loss of $19.5 million in 2019.
• Adjusted EBITDA of $8.3 million in Q4 2020 vs $7.1 million in Q4 2019. Full year 2020 adjusted EBTIDA was $14.3 million vs $32.5 million in 2019.
• On March 24, 2021, the Company successfully completed its Initial Public Offering (“IPO”) raising gross proceeds of $170.1 million. A significant portion of the net proceeds were used to repay all of the Company’s corporate credit facility, resulting in a positive net cash position in excess of $100.0 million.

“Our financial performance for the fourth quarter and fiscal year largely reflects the impact of the COVID-19 pandemic that delayed live-action production and drove increased costs in 2020 but was partially offset by improved performance in our Kids and Family segment, which benefitted from a smoother transition to work-from-home protocols,” said John Young, Chief Executive Officer of Boat Rocker. “The expected delay in delivery dates resulted in a substantial portion of revenues that would have been recognized in 2020 being expected to shift into 2021. With continued robust global demand for content, our strengthened balance sheet in the wake of our recently completed IPO and a strong slate of shows ‘greenlit’ or already in production under enhanced COVID-19 protocols, including approximately $475.0 million in revenue already confirmed and expected to be delivered in the year ahead, Boat Rocker is well positioned to act on an array of both organic and inorganic initiatives to support growth over both the near and longer term.”

COVID-19 Pandemic Update

The COVID-19 pandemic is unprecedented and negatively impacted Boat Rocker’s financial results for the year ended December 31, 2020. The content production industry experienced a temporary pause on live-action production during the second quarter of 2020, which impacted Boat Rocker’s Television segment in both the scripted and unscripted production groups. Expected delivery dates were delayed on several of the Company’s series resulting in a shift of revenue from 2020 into 2021. The Kids and Family segment was the least affected of Boat Rocker’s three segments. More than 200 new employees were hired during the period from March to December 2020 to support the growth in the Company’s animation studio. Revenue earned in the Representation segment was negatively affected as the Company’s clients, mainly on-screen talent, had less opportunity to work.

As jurisdictions began to lift restrictions on large gatherings in the third quarter of 2020, Boat Rocker worked diligently to pioneer and implement leading COVID-19 protocols, which allowed many of the Company’s series to resume production.

Selected Financial Information
 

Financial Review

Q4 2020 revenue was $55.6 million compared with $59.4 million in the same prior year quarter. Full year 2020 revenue decreased by $17.4 million to $226.8 million compared with $244.2 million in the prior year. The decrease for both periods was primarily attributed to declines in the Television and Representation segments, driven by the impact of the COVID-19 pandemic. In the full year 2020, the decrease was partially offset by an increase in the Kids and Family segment which delivered mainly animated content in 2020.

Net loss attributable to shareholders of the Company for the three months ended December 31, 2020 was $2.2 million, compared to $7.1 million in the same period of 2019, a decrease of $4.9 million. The decrease was primarily driven by Canadian Emergency Wage Subsidy (CEWS) funds recognized in the three months ended December 31, 2020. Net loss attributable to shareholders of the Company for the year ended December 31, 2020 was $48.7 million, compared to $23.7 million in 2019, an increase of $25.0 million. The increased loss was mainly driven by the impact of the COVID-19 pandemic on revenue and a goodwill impairment charge of $13.0 million, partially offset by CEWS funds recognized.

Adjusted EBITDA for the three months ended December 31, 2020 was $8.3 million, compared to $7.1 million in the same period of 2019, an increase of $1.2 million. The increase is primarily attributed to funds received from the CEWS and decreases to general and administrative expenses attributed to COVID-19. Adjusted EBITDA for the year ended December 31, 2020 was $14.3 million, compared to $32.5 million in 2019, a decrease of $18.2 million. Adjusted EBITDA for 2020 included the full year impact of operating costs incurred at Platform One Media (now renamed Boat Rocker Studios, Scripted), which was acquired on August 31, 2019. Until delivery of the two scripted series in 2021, Boat Rocker Studios, Scripted will continue to incur operating expenses but not earn any revenue from these series. Adjusted EBITDA is a non-IFRS measure. See “Non-IFRS Measures” below.

The following table presents the Company’s net debt as at December 31, 2020 and 2019.

Net Debt at December 31, 2020 was $90.8 million, up 7.0% from $84.8 million at the end of the prior year. In July 2020, the Company amended its existing corporate credit facility with the Bank of Montreal (“BMO”) and drew down an additional $13.4 million. On March 24, 2021 Boat Rocker completed its IPO, raising gross proceeds of $170.1 million. The Company used $90.5 million of the net proceeds from the IPO to repay all of its term debt under the BMO corporate credit facility. Net Debt, Cash Available for Use, and Cash Required for Use in Productions are non-IFRS measures. See “Non-IFRS Measures” below.

Outlook

As further set out in the Company’s final prospectus dated March 19, 2021 and filed on SEDAR in respect of its IPO (the “Prospectus”), the Company expects 2021 to be a year of significant investment in content, funded in part by a portion of the IPO net proceeds, and is forecasting revenues in 2021 of approximately $700.0 million. This forecast is based on a number of assumptions, as outlined in the Prospectus. Management believes that, in light of the projected significant growth in the demand for content by buyers worldwide, the Company is well-positioned to continue to grow by capitalizing on its competitive strengths and implementing its growth strategies.

Fiscal 2020 Fourth Quarter Conference Call

Boat Rocker will host a conference call to discuss its fiscal 2020 fourth quarter and fiscal year end financial results at 8:30 a.m. EDT on March 31, 2021. The call will be hosted by John Young, CEO, and Michelle Abbott, CFO. To participate in the call, dial (416) 764-8650 or (888) 664-6383 (using the conference ID 94402000). The audio webcast can be accessed at https://www.boatrocker.com/investor-relations/events-and-presentations/default.aspx. Listeners should access the webcast or call 10-15 minutes before the start time to ensure they are connected.

About Boat Rocker

Boat Rocker is an independent, integrated global entertainment company that harnesses the power of creativity and commerce to tell stories and build iconic brands for audiences around the world. Boat Rocker Studios (the “Studio”), the Company’s creative engine, creates, produces and distributes award-winning content and franchises across all major genres via its Scripted, Unscripted, and Kids & Family divisions. The Studio distributes and licenses thousands of hours of its own and third-party content worldwide. Boat Rocker owns or invests in companies in the entertainment industry that bolster the company’s strategic and operational goals, including Insight Productions (Unscripted), Jam Filled Entertainment (2D and 3D Animation), Industrial Brothers (Kids & Family Animation) and Untitled Entertainment, a leading global talent management company that represents leading on-screen talent and celebrities. A selection of Boat Rocker’s projects include: Orphan Black (BBC AMERICA, CTV Sci-Fi Channel), Dear…(Apple TV+), Lip Sync Battle (Paramount Network), The Amazing Race Canada (CTV), MasterChef Canada (CTV), The Next Step (Family Channel, CBC), The Loud House (Nickelodeon), Remy & Boo (Universal Kids, CBC), and Dino Ranch (CBC, Disney Junior). Boat Rocker’s subordinate voting shares are listed on the Toronto Stock Exchange under the ticker BRMI. For more information, please visit www.boatrocker.com.

Non-IFRS Measures

This press release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The intent of using non-IFRS measures is to provide investors with supplemental measures of the Company’s operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures, in addition to providing a greater understanding of the Company’s liquidity position and available financial resources. The Company’s management uses non-IFRS measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets, and to determine components of management compensation. The Company also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers.

Definitions and reconciliations of non-IFRS measures to the relevant reported measures can be found in our MD&A. Such reconciliations can also be found in this press release under the heading reconciliation of non-IFRS measures. The non-IFRS measures the Company uses include: EBTIDA, Adjusted EBITDA, Cash Available for Use, Cash Required for Use in Productions, Free Cash Flow, and Net Debt.

EBITDA is defined as net income or loss before interest, taxes, depreciation and amortization (“EBITDA”).

Adjusted EBITDA is defined as EBITDA adjusted for amortization of non-cash program intangibles, change in fair value of financial liabilities, change in fair value of contingent consideration, share-based compensation, transaction and reorganization costs, goodwill impairment, loss on debt modifications and gain or loss on sale of assets. Adjusted EBITDA is used by management as a measure of the Company’s profitability. For further details refer to the “Reconciliation of non-IFRS measures” section of this press release.

Net Debt is defined as the carrying value of loans and borrowings (excluding interim production financing and convertible debentures), adjusted for the loss on loan modification and loan fees, plus lease liabilities, less Cash Available for Use. Net Debt represents obligations the Company has to fund from its earnings and is viewed by management as a consistent measure of the Company’s liquidity position. In contrast, interim production financing is drawn to bridge the timing between cash inflows from the license fees and production service fees of the buyer, the film and television tax credits earned on valid production expenses, and cash outflows of the production expenses. As such, interim production financing is excluded from management’s calculation of Net Debt. The Company does not include other liabilities in the Net Debt calculation such as: other financial liabilities that are based on estimates and probabilities, rather than specific amounts owing, and liabilities that may not be payable in cash. For further details, refer to the “Liquidity and Capital Resources” section of the Company’s MD&A.

Cash Available for Use is defined as the total cash and cash equivalents of the Company less Cash Required for Use in Productions. Cash Available for Use funds ongoing working capital requirements, principal, and interest payments on corporate demand loans as well as ongoing development and growth efforts and thus is an important liquidity measure that management uses to monitor the business on an ongoing basis.

Cash Required for Use in Productions is defined as cash required for the funding of productions in progress that is not considered by the Company to be available for other uses. The cash is not legally restricted and has not been classified as Restricted Cash on the consolidated statement of financial position. This cash has been provided by buyers and third-party IP owners that have engaged the Company to provide services, as well as banks with whom Boat Rocker has contracted to provide interim production financing. Management uses the amount of Cash Required for Use in Productions to determine the Company’s Cash Available for Use.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of applicable securities laws, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such assumptions, risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” and the assumptions discussed under “Outlook” in the final prospectus. Actual results could differ materially from those projected herein. Boat Rocker does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

Reconciliation of non-IFRS financial measures

 

SOURCE Boat Rocker Media Inc.

BRISBANE, Australia, March 31, 2021 /PRNewswire/ — Megaport Limited (ASX: MP1) (“Megaport”), a global leading Network as a Service (NaaS) provider, today announces the launch of Megaport Virtual Edge (MVE), an on-demand vendor-neutral Network Function Virtualization (NFV) service that enables branch-to-cloud connectivity on Megaport’s global Software Defined Network (SDN). With MVE, companies can host network functions such as virtual routers, SD-WAN controllers, and future networking technologies directly on Megaport’s global platform to extend their network functions closer to the edge, in real time, and without the need to deploy hardware.

Transforming Networking at the Edge

MVE is a globally distributed compute and network service in one. The compute aspect of the service enables customers to host NFV instances in locations where they need them, on demand, and manage them in a point-and-click manner. On the network side, MVE’s built-in transit gateway provides a highly scalable access point for connecting networks, via the public internet, to Megaport’s private SDN. Virtualised devices hosted on MVE can utilise the transit gateway to create connections between the Megaport SDN and their own networks, including branch locations, data centres, and private clouds.

At launch, MVE is available in 15 metros across North America, Asia-Pacific, and Europe with 6 additional locations to be available at the end of April. This allows customers more flexibility to deploy virtual devices near concentrations of users to localise traffic and optimise data termination for performance.

Supercharging SD-WAN Connectivity

Many businesses have embraced SD-WAN and internet connections as a means of simplifying their IT connectivity. However, dependence on end-to-end internet connections to key services and resources can impact performance, availability, and security. With MVE, customers can host localised virtual SD-WAN controllers on Megaport’s global platform and reduce the distance data traverses over internet paths from branch locations to critical services in public or private clouds and even other branch locations.

Once connected, customers can access Megaport’s leading ecosystem of more than 700 enabled data centres worldwide and over 360 service providers, including 220+ cloud on-ramps from the world’s leading clouds such as Alibaba Cloud, AWS, Google Cloud, Microsoft Azure, IBM Cloud, Oracle Cloud, and Salesforce.

SD-WAN on MVE Highlights:

• Reduced cloud egress costs to cloud on-ramps when compared to internet rates.
• Better performance with reduced jitter and latency.
• Vendor neutral service that supports SD-WAN technologies from leading providers.
• Highly distributed for localised connections.
• Point-and-click network provisioning to support interconnection between branch locations, data centres, cloud providers, and IT services.
• Real-time provisioning of virtual network infrastructure and interconnections.
• No hardware to ship, install, or manage.
• Unified end-to-end network provisioning and management to transform legacy networks.
• Secure, multi-cloud connections to more than 360 service providers, 700+ enabled data centres and 220+ cloud interconnect points.

Cisco SD-WAN Cloud Interconnect

Megaport and Cisco have partnered to integrate Cisco SD-WAN Cloud Interconnect with MVE for enterprises that want their SD-WAN controllers to be able to provision on-demand cloud interconnects using Megaport’s SDN. Building a bridge from SD-WAN to Megaport enables software-defined cloud interconnect fabrics with reliable network performance, cost-optimised connectivity, and reduced provisioning time. This provides enterprise IT full control of SD-WAN (overlay fabric) and cloud interconnects (underlay fabric) from the same Cisco SD-WAN controller with the release of vManage 20.5.

Fortune 500 companies with a global presence that use Cisco SD-WAN for consuming multicloud applications can take advantage of Cisco SD-WAN Cloud Interconnect with MVE to enable on-demand provisioning of cloud interconnect with global reach. This capability of the underlay interconnect connectivity, in addition to the SD-WAN overlay, offers unprecedented control and visibility to enterprise IT.

“Cisco’s collaboration with Megaport enables customers to extend their Cisco SD-WAN fabric from site to multiple clouds over a direct, high-performance, and neutral interconnect platform, delivering enhanced performance and security,” said JL Valente, Vice President, Product Management, for Cisco Enterprise Routing, SD-WAN and Cloud Networking. “The integration of Cisco’s new SD-WAN Cloud Interconnect with Megaport Virtual Edge brings together the secure networking capability of Cisco SD-WAN and the programmable, on-demand cloud interconnects offered by Megaport to automate provisioning of high-performance site-to-cloud and site-to-site connectivity.”

“As enterprises and service providers rapidly adopt SD-WAN technology to improve edge network connectivity, the ability for Megaport customers to easily, and in minutes, ‘spin up’ SD-WAN virtual appliances around the world on our platform is a big enabler for global organisations,” said Vincent English, CEO of Megaport. “Having these virtual appliances fully integrated into Megaport’s global Software Defined Network allows customers to optimise their SD-WAN connectivity via a single workflow to improve overall network and application performance at a fraction of the cost of legacy methods.”

Future Support

As a neutral service, additional leading SD-WAN platforms are currently being integrated with MVE.

For more information about Megaport Virtual Edge, please visit megaport.com/mve.

About Megaport

Megaport is a leading provider of Network as a Service (NaaS) solutions. The company’s global Software Defined Network (SDN) helps businesses rapidly connect their network to services via an easy-to-use portal or our open API. Megaport offers agile networking capabilities that reduce operating costs and increase speed to market compared to traditional networking solutions. Megaport partners with the world’s top cloud service providers, including AWS, Microsoft Azure, and Google Cloud, as well as the largest data centre operators, systems integrators and managed service providers in the world. Megaport is an ISO/IEC 27001-certified company and included in the S&P/ASX 200 index.

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SOURCE Megaport

TORONTO, March 31, 2021 /CNW/ – Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce it has completed a private placement of 4,255,319 common shares, issued at a price of C$2.35 per common share, representing an 8.3% premium to the closing price on March 30, 2021, for gross proceeds of C$10,000,000 with Ausenco Engineering Canada Inc. (“Ausenco”).  Argonaut Gold and Ausenco previously executed a fixed-bid engineering, procurement, construction and commission contract for the construction of the Magino processing facility and other parts of the Magino construction project (see press release dated January 4, 2021) at which time a private placement was contemplated.  The Company intends to use the proceeds for Magino construction activities and general corporate purposes.  

Pete Dougherty, President and CEO of Argonaut stated: “The private placement by Ausenco aligns our respective companies, as we work together to advance and unlock value of the Magino project.  We are very pleased to have a partner with ‘skin in the game’ as we continue to advance Magino’s construction.”

Zimi Meka, CEO and Managing Director of Ausenco commented: “With our intimate knowledge of the Magino project, we are excited to partner with Argonaut in building Canada’s next gold mine.  We are pleased to be a shareholder of Argonaut and look forward to working with Peter and his team to maximise the value of Magino for all shareholders.”

Magino Project Construction Update

Argonaut is also pleased to provide a construction update at its Magino project in Ontario, Canada.  The overall Magino construction project is tracking on schedule and ahead of schedule in relation to logging activities. The Company has secured all long lead items and is actively preparing the site for earthworks, which are expected to commence during the second quarter 2021.

Argonaut is very pleased to report that 100% of the process plant site has been cleared, which allows for earthworks to begin in this area.  Earthworks in the process plant site area will be followed by concrete pouring and steel erection so that the Company is in a position to enclose the process facility building prior to next winter, allowing construction to continue on the recovery plant.

Magino project activities since commencing construction include:

• Logging;
• Pioneering of roads and worksites;
• Earthworks to level the area of the process facility site for preparation of concrete pouring for the foundation;
• Installed construction offices;
• Completed the pad for a 144 person camp;
• Installation of the first 88 person camp units; and
• Placed orders of long lead time equipment.

Cautionary Note Regarding Forward-looking Statements
This press release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities laws concerning the business, operations and financial performance and condition of Argonaut Gold Inc. (“Argonaut” or “Argonaut Gold”). Forward-looking statements and forward-looking information include, but are not limited to statements with respect to the Magino construction project schedule; permitting and legal processes in relation to mining permitting and approvals; estimated production and mine life of the various mineral projects of Argonaut; the ability to obtain permits for operations; synergies; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; and financial impact of completed acquisitions; the benefits of the development potential of the properties of Argonaut; the future price of gold, copper, and silver; the estimation of mineral reserves and resources; success of exploration activities; and currency exchange rate fluctuations. Except for statements of historical fact relating to Argonaut, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “should” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Argonaut and there is no assurance they will prove to be correct.

Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include variations in ore grade or recovery rates, changes in market conditions, risks relating to the availability and timeliness of permitting and governmental approvals; risks relating to international operations, fluctuating metal prices and currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.

These factors are discussed in greater detail in Argonaut’s most recent Annual Information Form and in the most recent Management’s Discussion and Analysis filed on SEDAR, which also provide additional general assumptions in connection with these statements. Argonaut cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Argonaut believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.

Although Argonaut has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Argonaut undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed. Comparative market information is as of a date prior to the date of this document.

For further information on the Magino project, please see the report as listed below on the Company’s website or on www.sedar.com:

About Argonaut Gold

Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production.  Its primary assets are the El Castillo mine and San Agustin mine, which together form the El Castillo Complex in Durango, Mexico, the La Colorada mine in Sonora, Mexico and the Florida Canyon mine in Nevada, USA.  The Company also holds the construction stage Magino project, the advanced exploration stage Cerro del Gallo project and several other exploration stage projects, all of which are located in North America. 

For more information, contact:

Argonaut Gold Inc.
Dan Symons
Vice President, Corporate Development & Investor Relations
Phone:  416-915-3107
Email: [email protected]

Source: Argonaut Gold Inc.

SOURCE Argonaut Gold Inc.