Market Newsdesk

• First quarter planned system capacity further reduced by 25 per cent due to new pre-departure testing requirements, provincial lockdowns and travel restrictions
• 1700 employees affected

MONTREAL, Jan. 13, 2021 (GLOBE NEWSWIRE) — Air Canada announced today it is adjusting its network under its COVID-19 Mitigation and Recovery Plan by further reducing first quarter system capacity by an additional 25 per cent. As a result of these system-wide changes, there will be a workforce reduction of approximately 1700 employees, in addition to the over 200 impacted employees at our Express carriers. The airline is working with its unions on mitigation programs.

“Since the implementation by the Federal and Provincial Governments of these increased travel restrictions and other measures, in addition to the existing quarantine requirements, we have seen an immediate impact to our close-in bookings and have made the difficult but necessary decision to further adjust our schedule and rationalize our transborder, Caribbean and domestic routes to better reflect expected demand and to reduce cash burn. We regret the impact these difficult decisions will have on our employees who have worked very hard during the pandemic looking after our customers, as well as on the affected communities,” said Lucie Guillemette, Executive Vice President and Chief Commercial Officer at Air Canada.

“While this is not the news we were hoping to announce this early into the year, we are nonetheless encouraged that Health Canada has already approved two vaccines and that the Government of Canada expects the vast majority of eligible Canadians to be vaccinated by September. We look forward to seeing our business start to return to normal and to bringing back some of our more than 20,000 employees currently on furlough and layoff,” concluded Ms. Guillemette.

Air Canada will be reducing approximately 25 per cent of its planned capacity for the balance of the first quarter of 2021. With this reduction, capacity in the first quarter of 2021 will be about 20 per cent of what Air Canada operated in the first quarter of 2019.

Air Canada will continue to evaluate and adjust its route network as required in response to the trajectory of the pandemic, government-imposed travel restrictions and quarantines, and to market and regulatory conditions.

Affected customers on all routes will be contacted by Air Canada and offered options, including refunds for eligible customers and alternative routings where available.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to guidance, strategies, expectations, planned operations or future actions. Forward-looking statements are identified using terms and phrases such as “preliminary”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”, “project”, “will”, “would”, and similar terms and phrases, including references to assumptions. Forward-looking statements, by their nature, are based on assumptions, including those described herein and are subject to important risks and uncertainties.  Forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business.  Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those discussed below.

Air Canada, along with the rest of the global airline industry, is facing a severe and abrupt drop in traffic and a corresponding decline in revenue as a result of the COVID-19 pandemic and the travel restrictions imposed in many countries around the world, and particularly in Canada as well as the United States. The impact of the COVID-19 pandemic began to be felt in traffic and sales figures commencing in early March 2020. These impacts include drastic declines in earnings and cash from operations. There is very limited visibility on travel demand given changing government restrictions in place around the world and the severity of the restrictions in Canada; these restrictions and concerns about travel due to the COVID-19 pandemic as well as passenger concerns and expectations about the need for certain precautions, such as physical distancing, are severely inhibiting demand. The COVID-19 pandemic is also having significant economic impacts, including on business and consumer spending, which may in turn significantly impact demand for travel. Air Canada cannot predict the full impact or the timing for when conditions improve. Air Canada is actively monitoring the situation and will respond as the impact of the COVID-19 pandemic evolves, which will depend on a number of factors including the course of the virus, government actions, and passenger reaction, as well as timing of a recovery in international and business travel which are important segments of Air Canada’s market, none of which can be predicted with any degree of certainty.

Other factors which may cause results to differ materially from results indicated in forward-looking statements include our ability to successfully achieve or sustain positive net profitability, economic and geopolitical conditions, our ability to pay our indebtedness and maintain liquidity, industry and market conditions and the demand environment, competition, the timing and conditions of the return to service of Boeing 737 MAX aircraft into our fleet (including the introduction of those on order and the management of our fleet and operations until their return to service or introduction), energy prices, our dependence on technology, our ability to successfully implement appropriate strategic and other important initiatives (including our ability to reduce operating costs), cybersecurity risks, war, terrorist acts, other epidemic diseases, our dependence on key suppliers, casualty losses, changes in laws, regulatory developments or proceedings, our ability to successfully launch and operate our new loyalty program, climate change and environmental factors (including weather systems and other natural phenomena and factors arising from man-made sources), interruptions of service, our dependence on regional and other carriers, our ability to preserve and grow our brand, employee and labour relations and costs, our dependence on Star Alliance and joint ventures, limitations due to restrictive covenants, pending and future litigation and actions by third parties, currency exchange, pension plans, our ability to attract and retain required personnel, insurance issues and costs, as well as the factors identified in Air Canada’s public disclosure file available at www.sedar.com and, in particular, those identified in section 14 “Risk Factors” of Air Canada’s Third Quarter 2020 MD&A and section 20 “Risk Factors” of Air Canada’s 2019 MD&A.  The forward-looking statements contained or incorporated by reference in this news release represent Air Canada’s expectations as of the date of this news release or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.

About Air Canada

Air Canada is Canada’s largest domestic and international airline, and in 2020 was among the top 20 largest airlines in the world. It is Canada’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Air Canada is the only international network carrier in North America to receive a Four-Star ranking according to independent U.K. research firm Skytrax. In 2020, Air Canada was named Global Traveler’s Best Airline in North America received for second straight year. For more information, please visit: aircanada.com/media, follow Air Canada on Twitter and LinkedIn, and join Air Canada on Facebook.        

Contacts: [email protected]

Internet: aircanada.com/media

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NEW YORK, Jan. 13, 2021 (GLOBE NEWSWIRE) — BM Technologies, Inc. (NYSE American: BMTX, BMTX.W), one of the largest digital banking platforms in the country, announced that the company commenced trading on the NYSE American on January 6, 2021 under the ticker symbols “BMTX” and “BMTX.W.”

The newly formed listing is the result of the sale of BankMobile Technologies, Inc., a wholly-owned subsidiary of Customers Bank, a Pennsylvania bank, to Special Purpose Acquisition Company (SPAC), Megalith Financial Acquisition Corp. The new parent company, BM Technologies, Inc. will be one of the first publicly traded neo banking fintechs and one of the first de-SPACs of 2021.

“I am proud to see BM Technologies take this historic step and enter the public markets,” said Co-Founder and CEO Luvleen Sidhu. “We are delighted to be one of the first neo banking fintechs to go public. We are also EBITDA positive today, which serves to set us apart from other neo banking fintechs in the market.”

Sidhu, who started the company at age 28, is now one of the few young, female CEOs of a publicly traded company and likely the youngest female founder and CEO to ever take a company public. She founded the company with the mission to create a financially empowering banking experience rooted in affordability, transparency, and exceptional customer service.

Sidhu, who has overseen the strategy since the 2015 launch, also helped develop the company’s disruptive, multi-partner distribution model known as “Banking-as-a-Service” (BaaS). BM Technologies partners with large companies with established customer bases to leverage its technology and significantly reduce customer acquisition costs while providing substantial benefits to its business and banking partners. Today, BMTX provides its BaaS platform to colleges and universities through BankMobile Disbursements, which serves more than five million students on 722 campuses nationwide. Through this distribution channel, BMTX serves one in every three college students in the country. BMTX also offers its BankMobile Workplace Banking platform, a financial wellness service that offers innovative banking products that carry generous interest, early payday, built-in money management tools, over 55,000 fee-free Allpoint^® ATMs, and a robust banking app through its banking partners.

Additionally, BMTX recently announced the execution of an agreement with Google to introduce digital bank accounts, which will be available to its customers. BMTX has also expanded its white-label strategy with T-Mobile for the launch of T-Mobile MONEY.

“We are well positioned for growth and innovation and look forward to building our business over the coming years and taking advantage of all strategic opportunities,” noted Sidhu.

# # #

About BM Technologies, Inc.

BM Technologies, Inc. (NYSE American: BMTX, BMTX.W) is among the largest digital banking platforms in the U.S., providing access to checking and savings accounts, personal loans and credit cards. BankMobile was named the “Most Innovative Bank” by LendIt Fintech in 2019, providing an alternative banking technology to the traditional model. It is focused on technology, innovation, easy-to-use products and education with the mission of being “customer-obsessed” and creating “customers for life.” The BankMobile platform employs a multi-partner distribution model, known as “Banking-as-a-Service” (BaaS), that enables the acquisition of customers at higher volumes and substantially lower expense than traditional banks. Its efficient operating model enables partner banks to provide low-cost banking services to low/middle-income Americans who have been left behind by the high-fee model of “traditional” banks. Today, the BankMobile BaaS platform is provided to colleges and universities and currently serves over two million account-holders, and provides disbursement services at 722 campuses (covering one out of every three students in the U.S.). BM Technologies, Inc. is a technology company and is not a bank and provides banking services through its partner banks. More information can also be found here.

NEW YORK, Jan. 13, 2021 (GLOBE NEWSWIRE) — Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the launch of the Global X Adaptive U.S. Risk Management ETF (ONOF). The Fund will join the firm’s Core family of ETFs and track the Adaptive Wealth Strategies U.S. Risk Management Index.

Facing a market that is seemingly climbing ever-higher, many investors may be confronted with whether to participate in equity markets or to hold cash in case of a downturn. ONOF seeks to confront this challenge with the dual goals of managing risk during adverse market conditions, while maintaining broad equity market exposure under normal market conditions. During positive market environments ONOF will hold broad U.S. equity market exposure, rotating entirely into exposure to U.S. Treasury Obligations when that trend reverses.

The strategy utilizes four market indicators to determine whether it should be in a risk-on or risk-off positioning. Those four indicators include two longer-term measures, and two shorter-term ones to avoid the whipsaw effect that can result from only relying on one signal.

Longer-Term Indicators:

• A 200-day moving average that detects market trends and provides stability by muting day-to-day market shifts.
• Drawdown, the measurement of the market’s absolute decline from the previous market high, serves to potentially identify a more pronounced downward trend.

Shorter-Term Indicators:

• Moving average convergence divergence (MACD), which tracks the relationship between moving averages, captures both up and down turning points in the market, and is often one of the first technical indicators to recognize when entering a risk-off environment.
• Volatility, measured via the VIX, gauges market uncertainty and often precipitates rising risks.

The strategy requires confirmation from three of the four above factors in order to exit equity exposure and reallocate to short-term U.S. Treasuries. To re-enter the market, it will need the confirmation of just two indicators, opting for a higher barrier to exit the market than enter.

“Throughout the post-2008 bull market, investors have repeatedly seen brief periods of extreme volatility,” said Alex Ashby, Head of Product Development at Global X ETFs. “Many investors, wary of perceived risks, have refrained from entering the market over recent years. Even those who have maintained their positioning through the downturns faced periods of elevated risk, but are hesitant to make tactical changes to adapt to a changing market landscape. This strategy is designed to provide tactical risk management amid a backdrop of both immense global uncertainty and upward-trending equity markets.”

ONOF marks the second occasion that Global X has partnered with Adaptive Wealth Strategies to introduce an ETF within their Core family. The first strategy, the Global X Adaptive U.S. Factor ETF (AUSF) holds $155 million in assets under management.

About Global X ETFs

Global X ETFs was founded in 2008. For more than a decade, our mission has been empowering investors with unexplored and intelligent solutions. Our product lineup features more than 70 ETF strategies and $20 billion in assets under management. While we are distinguished for our Thematic Growth, Income and International Access ETFs, we also offer Core, Commodity, and Alpha funds to suit a wide range of investment objectives. Explore our ETFs, research and insights, and more at  www.globalxetfs.com.

Global X is a member of Mirae Asset Financial Group, a global leader in financial services, with over $400 billion in assets under management worldwide. Mirae Asset has an extensive global ETF platform ranging across the US, Australia, Brazil, Canada, Colombia, Europe, Hong Kong, India, Japan, Korea, and Vietnam with over $50bn in assets under management.

Media Contact:

Frank Taylor / Stephanie Dressler
Dukas Linden Public Relations
[email protected] / [email protected]
(646) 808-3647 / (949) 269-2535

Risk Information
:

Investing involves risk, including the possible loss of principal. There is no guarantee that the Fund will achieve a high degree of correlation to the Underlying Index and therefore achieve its investment objective. Market disruptions and regulatory restrictions could have an adverse effect on the Fund’s ability to adjust its exposure to the required levels in order to track the Underlying Index. The Fund is based on the “modern portfolio theory” approach to asset allocation, which is a framework for determining the allocation of a portfolio with the goal of achieving an intended investment outcome based on a given level of risk. This framework relies heavily on the anticipated volatilities, investment returns and correlations of particular asset classes or securities. There is no guarantee that the Underlying Index will outperform any alternative strategy that might be employed in respect of the component assets or that past volatilities and correlations of particular asset classes or securities will be indicative of future results. ONOF is non-diversified.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses, which may be obtained at www.globalxetfs.com.. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to the Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Adaptive Wealth Strategies® (AWS), nor does AWS make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with AWS.

NEW YORK, Jan. 13, 2021 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP is investigating potential claims against Bit Digital, Inc. (“Bit Digital” or the “Company”) (NASDAQ: BTBT). The investigation focuses on whether the Company may have misled investors about the company’s bitcoin mining activities.

On Jan. 11, 2021, market analyst J Capital Research issued a scathing report about the company, concluding that Bit Digital operates “a fake crypto currency business” “designed to steal funds from investors.” According to J Capital, “[t]he company reported at end Q3 2020 that it was operating 22,869 bitcoin miners in China,” but that “is simply not possible” and “[w]e verified with local governments supposedly hosting the BTBT mining operation that there are no bitcoin miners there.” On this news, Bit Digital’s stock price fell $6.27 per share, or 25%, to close at $18.76 per share on January 4, 2021.

If you purchased or otherwise acquired Bit Digital securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP
is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-371-6600
https://www.kmllp.com
[email protected]

San Francisco, CA, Jan. 13, 2021 (GLOBE NEWSWIRE) — Just in time for 2021 wellness resolutions, Flume announced today the launch of the first-ever line of botanical supplements created to help athletes experience the flow state, an optimal mental state where you feel and perform your best. The suite of complementary products, FLOW, BASK and DRIFT, relies on science-backed botanicals, including those known as adaptogens and nootropics, to enhance pre-workout energy and focus, speed post-workout recovery and support restorative sleep. Removing barriers to the flow state allows athletes to relish the experience of their pursuits, break through mental and physical limitations and enjoy myriad health benefits. 

“The euphoric feeling of flow is what keeps many athletes, especially those engaged in adventure sports like trail running, mountain biking and surfing, motivated to keep refining their skills and seeking out new challenges.” Explains Dr. Taryn Forrelli, Flume’s co-founder and product formulator. “In flow, the body is flooded with reward chemicals like dopamine, endorphins and anandamide (also known as the bliss molecule), that make you feel amazing both physically and mentally – a natural “high” of sorts. On top of the immediate performance and mood-boosting benefits, research shows that people who experience flow regularly enjoy happier lives along with greater physical and mental wellbeing. Flow is an evolutionary reward for movement and one of the most pleasurable drivers of health available to us.”

Flume’s focus on plant-based ingredients, wellness, and the joy of the athletic pursuit is in stark contrast to the sports-nutrition industry’s obsession with measurable performance and reliance on synthetic ingredients. The brand’s mission is to inspire users to get outdoors, immerse themselves in nature and move their bodies to activate the flow state – which has the benefits of improving performance while enhancing experience and wellbeing both on and off the trail. Says Forrelli, “Anyone with an active lifestyle can reap the benefits of our products.”

She goes on to explain, “While a supplement cannot induce the flow state on its own since individuals must consciously direct their energy toward a challenging activity they are skilled at and set their own performance goals, certain botanicals known as nootropics can support an essential requirement, namely focus and concentration. Other botanicals called adaptogens can help remove barriers to flow like stress, low energy, lack of sleep and physical discomfort. Essentially, the higher your baseline level of health is, the more likely you are to achieve flow on the regular.”

Forrelli, a naturopathic physician and Flume CEO, knows about supplements and the health rewards of movement. She was Head of Product at Olly – start-up pioneers in the gummy vitamin space – and has been researching and developing category-leading dietary supplements for nearly 20 years. She’s also an outdoor enthusiast who enjoys trail running and mountain biking on the trails around her home in Marin County, CA. Dr. Forrelli relied on her industry knowledge, deep understanding of the science of botanicals and personal athletic experiences to formulate Flume’s products to work together as a holistic system. 

“In formulating the products, I was inspired by the research showing that key chemistries in plants may support the brain chemistries believed to be at the heart of the flow state. It is well established that caffeine enhances dopamine signaling in the brain, so I included a caffeine-containing botanical from the Amazonian rainforest called Guayusa in our FLOW pre-workout formula to support energy and focus. Another botanical, Galangal, commonly known as Thai Ginger, has similarly been proposed to exert its clinically studied effects on mental alertness through the dopamine pathway. Then there is Maca and Cacao, which contain compounds that preclinical suggests supports anandamide. The ingredients make for a product experience you can really feel.”

Flume Products: 

FLOW Pre-Workout Botanicals.  

• The first-ever pre-workout supplement designed to fuel the flow state
• Boosts energy, increases stamina, awakens mind and elevates experience 
• Contains nootropic and adaptogenic plants plus electrolytes from Coconut water and Himalayan sea salt

BASK Recovery Botanicals: 

• Support optimal mental and physical recovery post-workout 
• Re-hydrates, soothes sore muscles and elevates mood 
• Contains adaptogenic and soothing plants plus electrolytes from Coconut water and Himalayan sea salt

DRIFT Sleep Botanicals: 

• Formulated to help the body and mind drift off to sleep, while optimizing nightly restoration.
• Quiets the mind and soothes the body to support overnight recovery
• Contains adaptogenic and calming plants along with essential minerals the pristine ocean waters of Ireland

“While the FLOW product may be the obvious hero in the set, restoring balance to the body and mind post-workout and at nighttime with BASK and DRIFT respectively can have a major impact on energy, mood and overall health, making it easier to keep returning to flow.”

Flume is dedicated to sustainability and has a company-wide goal of net positive impact. An industry first, all three supplements are sold in 100% recyclable / reusable aluminum jars to reduce their packaging footprint. The ingredients are responsibly sourced and traceable back to their origins. Flume is a proud member of 1% For the Planet and has partnered with Protect Our Winters and Sustainable Herbs Program, an affiliate of the American Botanical Council.

“We must take care of the planet to ensure both the plants that deliver these incredible benefits and the outdoor spaces that enable our adventures and nurture human health are available for generations to come.”

National Geographic Explorer, Photojournalist and environmental advocate Pete McBride was inspired by Flume’s mission and joined the brand as an early partner and advisor: 

“…Occasionally, I come across businesses who have passion for the wild world and protecting it – not just with label talk – but with production walk. But most importantly, it is inspiring to find folks who celebrate the pursuit of one’s flow, daily and the path beyond — braided in concert with nature. I’m proud to partner with and be powered by Flume.”

FLOW, BASK and DRIFT supplements are available individually for $44.99 (Drift is $39.99) or as a bundle for $114.99 at https://withflume.com/. For a limited time, Flume is offering a free sample of their FLOW product to Instagram followers: @withflume.

About: 

Introducing Flume, a new dawn in sports supplements for those who don’t run just to stay fit, ski to get to the bottom, or cycle only to post a time.  We do it for the joy, for the bliss.  For the thrill of the pursuit. We do it because it feels good.

Flume is born out of the idea that to truly perform at our best we must thrive in the experience. When we are feeling great, connected and engaged, our bodies strong and minds focused, we flourish. This is the flow state and when we reach it we are able to push limits and reach new peaks.

Learn more about Flume: https://withflume.com/

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