Market Newsdesk

(All dollar amounts are United States dollars unless otherwise stated)

VANCOUVER, BC, May 3, 2021 /PRNewswire/ – Galiano Gold Inc. (“Galiano” or the “Company”) (TSX: GAU), (NYSE American: GAU) announces that it has acquired 100% of ABG Mali Exploration SARL (“ABG Mali”) from a subsidiary of Barrick Gold for consideration paid of US$1.5 million. The ABG Mali property covers over 167 km² and includes four exploration licenses.

The ABG Mali property is strategically located on the Senegal Mali Shear Zone (“SMSZ”), host to  established gold deposits, including Loulo-Gounkoto and Fekola to the south and Sadiola and Yatela to the north.

A review of historical work including previous drilling and six multi-km gold-in-soil trends is underway. A soil sampling campaign is planned for this year, together with UAV borne geophysical surveys planned for later in 2021, to assist in drill targeting scheduled for 2022.

“Acquiring the ABG Mali properties is a small but meaningful step for Galiano. We believe that the properties have a lot of promise including several attractive intercepts from previous drilling,”
said Greg McCunn, Chief Executive Officer. “Including Asumura, we now have two greenfield projects, both of which are located in prospective geological regions.”

ABG Mali Property Description

The ABG Mali property is located in south-west Mali, near the Senegal border (see Figure 1). The property is located at the top of greenstone belts where gold deposits commonly occur. There are widespread tarkwaian equivalent rocks on site as well as known gold occurrences and artisanal workings.

ABG Mali Geology

The ABG Mali concessions straddle the SMSZ, a major crustal scale terrane boundary that plays host to  several established Gold deposits. Gold mineralisation along the structure is commonly associated with second and third order subsidiary shear zones, varying in strike from north-south, to northeast and northwest. Of note, many such structures can be seen transgressing the ABG Mali property. Concessions located on the eastern side of the SMSZ are dominated by the Kofi Series, which consists of a sequence of clastic sedimentary rocks and peraluminous granite plutons, and most notably, by sericite-tourmaline altered sandstones, a common feature of the gold deposits along the SMSZ. Concessions on the western side of the SMSZ are underlain by sedimentary rocks of the Diale-Dalema Supergroup, locally represented by a sequence of sandstone, conglomerate and chert, intruded by gabbroic and dacitic bodies.

About Galiano Gold Inc.

Galiano is focused on creating a sustainable business capable of long-term value creation for its stakeholders through exploration and disciplined deployment of its financial resources. The Company currently operates and manages the Asanko Gold Mine, located in Ghana, West Africa which is jointly owned with Gold Fields Ltd.  The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities. For more information, please visit www.galianogold.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements and information contained in this news release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which we refer to collectively as “forward-looking statements”. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future conditions and courses of action. All statements and information other than statements of historical fact may be forward looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.

Forward-looking statements in this news release include, but are not limited to: Galiano’s plan to conduct soil sampling and geophysical survey work on the ABG Mali property in 2021 and drilling in 2022; the opportunity for the ABG Mali Property to create value for Galiano’s shareholders in the future; the Company’s belief that the ABG Mali Property is a promising greenfield target; and the nature of the geological setting of the ABG Mali Property. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to:
that the current or potential future effects of the COVID-19 pandemic on the Company’s business, operations and financial position, including restrictions on the movement of persons, restrictions on business activities, restrictions on the transport of goods, increases in the cost of necessary inputs, reductions in the availability of necessary inputs and productivity and operational constraints, will not impact its 2021 exploration plans; that the Company’s and the AGM’s responses to the COVID-19 pandemic will be effective in continuing its operations in the ordinary course;
 the successful completion of exploration projects, planned exploration projects are completed within the timelines anticipated; that required permits will be obtained; that labour disputes or disruptions, flooding, ground instability, geotechnical failure, fire, failure of plant, equipment or processes to operate are as anticipated and other risks of the mining industry will not be encountered; that contracted parties provide goods or services in a timely manner; and that the geological setting of the ABG Mali  Property is similar to that generally encountered in the Senegal Mali Shear Zone or is otherwise favourable; .

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: the Company’s and/or the AGM’s operations may be curtailed or halted entirely as a result of the COVID-19 pandemic, whether as a result of governmental or regulatory law or pronouncement, or otherwise; the Company’s responses to the COVID-19 pandemic may not be successful in continuing its operations in the ordinary course; adverse geotechnical and geological conditions may impede or prevent exploration or make exploration targets become unfavourable ; the Company’s operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; the Company’s operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; labour disruptions could adversely affect the Company’s operations; the Company’s business is subject to risks associated with operating in a foreign country; risks related to the Company’s use of contractors; the hazards and risks normally encountered in the exploration for gold; the Company’s operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the Company’s operations and workforce are exposed to health and safety risks; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company’s operations; the Company’s exploration programs may not be successful; and that the geological setting of the ABG Mali Property may not correspond with that of the Senegal Mali Shear Zone belt or may not otherwise be favourable to the Company.

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in, or incorporated by reference in, this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release
.

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SOURCE Galiano Gold Inc.

LAKE ELSINORE, Calif., May 3, 2021 /PRNewswire/ — IGEN Networks Corporation (OTCQB: IGEN), (CSE: IGN), a leading innovator of cloud-based and Internet of Things (IoT) solutions for the protection and management of mobile assets, today announced the acceptance of its Patent Application No. 16/387,858 – “Method and System for Creating Driver Telematic Signatures” by the United States Patent Office (USPTO). 

The Digital Telematics Signature (DTS) is comprised of proprietary algorithms designed to measure driver behavior for both commercial and consumer markets regardless of the data sources. Whether driving in high-density traffic or at high speeds over the expressway, the data is normalized across a relatively large sample to create a consistent and accurate driver profile based on actuarial metrics.  With programmable weighting of driving events such as speed, sudden-braking, harsh-turns, traffic flow, and vehicle profiling, a “DTS” or weighted score is created over an extended period-of-time.  

“The premise for this patent is to establish an industry standard for assessing driving behavior regardless of its data source, whether it’s a commercial truck driver, a teenage driver, or an autonomous vehicle using AI imaging, our algorithms will normalize the multitude of driving data to derive a unique signature or score for the driving patterns of a commercial or consumer automotive vehicle,” said Neil G. Chan, CEO of IGEN Networks Corporation. 

IGEN’s Next-Generation Platform incorporates the DTS algorithms for both commercial and consumer markets. Built on Amazon’s Web Service (AWS) infrastructure and based on state-of-the-art coding methodology, the Next-Generation Platform leverages Facebook and Google design techniques to present a seamless user interface regardless of access methods including smartphones, tablets, desktops, and third-party application environments.  The AWS infrastructure offers reliability, security, and scalability to support millions of users or assets and an Application Programming Interface (API) friendly environment that adapts to a broad range of data sources to support the changing needs of consumer and commercial customers. 

About IGEN Networks Corporation

IGEN Networks Corporation creates software services for the consumer automotive and commercial asset management industries enabling their customers to better manage their assets and protect their families. 

IGEN is a fully reporting company in both Canada and the United States. It is publicly traded on the OTCQB under the symbol IGEN, and listed on the CSE under the symbol IGN. For more information, please visit: www.igennetworks.net

Forward-Looking Statements

This news release may contain forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities law. The terms and phrases “goal”, “commitment”, “guidance”, “expects”, “would”, “will”, “continuing”, “drive”, “believes”, “indicate”, “look forward”, “grow”, “outlook”, “forecasts”, “intend”, and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by IGEN in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that IGEN believes are appropriate in the circumstances, including but not limited to statements regarding investment liquidity, financing options and long term goals of the Company, general economic conditions, IGEN’s expectations regarding its business, customer base, strategy and prospects, and IGEN’s confidence in the cash flow generation of its business. Many factors could cause IGEN’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks related to competition; IGEN’s reliance on key personnel; IGEN’s ability to maintain and enhance its brand; and difficulties in forecasting IGEN’s financial results, particularly over longer periods given the rapid technological changes, competition and short product life cycles that characterize the mobile application industry. These risk factors and others relating to IGEN that may cause actual results to differ are set forth in the under the heading “Risk Factors” in IGEN’s periodic filings with the British Columbia Securities Commission and the U.S. Securities and Exchange Commission (copies of which filings may be obtained at www.sedar.com or www.sec.gov. These factors should be considered carefully, and readers should not place undue reliance on IGEN’s forward-looking statements. IGEN has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact:

IGEN Networks Corporation
Email: [email protected] 
Call Us: (855)912-5378

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SOURCE IGEN Networks Corporation

GREENVILLE, S.C., May 3, 2021 /PRNewswire/ — eRAD, a subsidiary of RadNet, Inc. (NASDAQ: RDNT), a leading provider of RIS (Radiology Information System) and PACS (Picture Archiving and Communication System) solutions, announced today that Shields Health Care Group has successfully deployed eRAD’s RIS across all of its imaging locations.

Shields provides multi-modality services throughout New England at outpatient imaging sites and in partnership with hospitals. “We have different requirements for each of our joint venture partners in New Hampshire, Massachusetts, and Maine, and those workflows are changing all the time,” said Christine Mavilia, Chief Talent Officer at Shields and project lead for the eRAD implementation. “For that reason, flexibility was an important criterion. For example, our scheduling team handles appointments for 20 different partnerships, each with specific needs. The eRAD system drives accuracy and customization as it relates to this complexity in our business. eRAD’s RIS will reduce training time for new hires, allowing our team to focus on patient care and satisfying the needs of our referring physicians.”

Shields’ primary search criterion was for a strategic partner. “We wanted to move forward with a team that shared our vision, and that is committed to future growth and change,” said Mavilia. “Shields is very focused on what is best for the patients and our referring community. eRAD is attuned to what patients want and is continuously developing features that give more options, such as enabling patients to schedule their own exams.” With eRAD, Shields will streamline registration by providing digital forms to patients before their visits, and eRAD’s RADAR technology enables automated outreach to patients. “Automatically delivering visit information, preparation instructions, and maps to our locations provides a better experience for our patients,” Mavilia stated.

Shields’ IT team worked with eRAD’s technical team to perform a detailed analysis of all workflow requirements. “Our IT team is knowledgeable and sophisticated in evaluating these systems, and eRAD really won them over,” said Mavilia. “We have worked with a lot of technology vendors, and this has been our best support experience. Working with eRAD employees has been a great experience.”

Dave Cunningham, VP of Sales for eRAD, added, “Shields presented eRAD with a unique and complex workflow. The inherent interoperability capabilities of the eRAD RIS, along with the expertise of the in-house Shields team, allowed us to provide a solution that meets all of their existing needs and positions Shields for the future. We are excited to offer solutions to successfully meet the complexities of Shields’ operations.”

About Shields Health Care Group
Shields Health Care Group provides MRI, PET/CT, and ambulatory surgical services to patients at more than 30 locations in New England. With a focus on cutting-edge technology, provider expertise, and affordability, Shields prioritizes the patient experience above all. A family-owned and operated business, Shields offers the largest and most technically advanced network of medical imaging and diagnostic treatment facilities in New England. For more information, visit www.shields.com

About eRAD, Inc.
eRAD offers a complete suite of workflow solutions for the imaging industry. Its EHR-Certified RIS, web-based PACS, and multi-site workflow solutions are used by teleradiology businesses, specialty reading groups, multi-site reading groups, hospitals, and outpatient imaging centers. With over 500 installations in the U.S. and abroad, eRAD’s products are available as cloud-based hosted solutions, or as in-house enterprise solutions. For more information, visit www.erad.com.

About RadNet, Inc.
RadNet, Inc. is the leading national provider of freestanding, fixed-site diagnostic imaging services in the United States based on the number of locations and annual imaging revenue. RadNet has a network of 331 owned and/or operated outpatient imaging centers. RadNet’s core markets include California, Maryland, Delaware, New Jersey, Arizona, and New York. In addition, RadNet provides radiology information technology solutions and other related products and services to customers in the diagnostic imaging industry. Together with affiliated radiologists, and inclusive of full-time and per diem employees and technicians, RadNet has approximately 8,300 employees.

For more information, visit www.radnet.com.

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SOURCE eRAD

CHICAGO, May 3, 2021 /PRNewswire/ — CNA Financial Corporation (NYSE: CNA) today announced first quarter 2021 net income of $312 million, or $1.14 per share, versus net loss of $61 million, or $(0.23) per share, in the prior year quarter.  Core income for the quarter was $263 million, or $0.96 per share, versus $108 million, or $0.40 per share, in the prior year quarter. 

Our Property & Casualty segments produced core income of $263 million for the first quarter of 2021, an increase of $142 million compared to the prior year quarter primarily due to higher net investment income driven by limited partnership and common stock returns and improved non-catastrophe current accident year underwriting results.  These results were partially offset by higher net catastrophe losses.

Our Life & Group and Corporate & Other segments produced core income (loss) for the first quarter of 2021 of $36 million and $(36) million, respectively.

CNA Financial declared a quarterly dividend of $0.38 per share, payable June 3, 2021 to stockholders of record on May 17, 2021.

“I am very pleased with our results as we achieved the best underlying combined ratio in over 12 years, offsetting substantially elevated catastrophes in the first quarter, as well as continued double-digit rate increases and strong new business growth.  We remain bullish about our growth opportunities for the remainder of the year as we expect favorable market conditions to persist,” said Dino E. Robusto, Chairman & Chief Executive Officer of CNA Financial Corporation.

Property & Casualty Operations

• The combined ratio excluding catastrophes and development improved 1.8 points as compared with the prior year quarter.  The expense ratio improved 1.6 points driven by net earned premium growth of 6%.  The underlying loss ratio was largely consistent with the prior year quarter.
• The combined ratio increased 0.8 points as compared with the prior year quarter.  Net catastrophe losses were $125 million, or 6.8 points of the loss ratio in the quarter compared with $75 million, or 4.3 points of the loss ratio, for the prior year quarter.  Favorable net prior period development improved the loss ratio by 0.6 points in the current quarter compared with 0.7 points of improvement in the prior year quarter.
• P&C segments, excluding third party captives, generated gross written premium growth of 8% and net written premium growth of 4%.

Business Operating Highlights

Specialty

• The combined ratio excluding catastrophes and development improved 1.5 points as compared with the prior year quarter.  The expense ratio improved 1.4 points driven by net earned premium growth of 7%.  The underlying loss ratio was largely consistent with the prior year quarter.
• The combined ratio improved by 2.5 points as compared with the prior year quarter.  Net catastrophe losses were $5 million, or 0.7 points of the loss ratio in the first quarter of 2021 compared with $8 million, or 1.1 points of the loss ratio, for the prior year quarter.  Favorable net prior period development improved the loss ratio by 2.1 points in the quarter compared with 1.5 points of improvement in the prior year quarter.
• Gross written premiums, excluding third party captives, grew 10% and net written premiums grew 7% for the first quarter of 2021.

Commercial

• The combined ratio excluding catastrophes and development improved 1.8 points as compared with the prior year quarter due to an improvement in the expense ratio driven by net earned premium growth of 5%. The underlying loss ratio was consistent with the prior year quarter.
• The combined ratio increased 5.1 points as compared with the prior year quarter. Net catastrophe losses were $115 million, or 13.4 points of the loss ratio in the first quarter of 2021 compared with $57 million, or 7.0 points of the loss ratio, for the prior year quarter.
• Gross written premiums, excluding third party captives, grew 5% and net written premiums grew 1% for the first quarter of 2021.

International

• The combined ratio excluding catastrophes and development improved 1.7 points as compared with the prior year quarter. The expense ratio improved 1.0 point driven by net earned premium growth of 5%. The underlying loss ratio improved 0.7 points.
• The combined ratio improved 4.0 points as compared with the prior year quarter. Net catastrophe losses were $5 million, or 2.0 points of the loss ratio in the first quarter of 2021, compared with $10 million, or 4.3 points of the loss ratio, for the prior year quarter.
• Excluding currency fluctuations, gross written premiums for International increased 6% and net written premiums increased 1% for the first quarter of 2021 as compared with the prior year quarter driven by growth in Europe and Canada.

Life & Group

Core income improved $32 million for the first quarter of 2021 as compared with the same period in 2020 driven by better than expected morbidity in the long term care business and higher net investment income.

Corporate & Other

Core loss increased $19 million for the first quarter of 2021 as compared with the prior year quarter driven by the recognition of a $12 million after-tax loss resulting from the cession of a legacy portfolio of excess workers’ compensation policies under a retroactive reinsurance agreement.

Net Investment Income

Net investment income increased $175 million as compared with the prior year quarter.  The increase was driven by limited partnership and common stock investments, which returned 3.4%, or $61 million for the first quarter of 2021 compared with (7.0)%, or $(125) million in the prior year quarter.

About the Company

CNA is one of the largest U.S. commercial property and casualty insurance companies.  Backed by more than 120 years of experience, CNA provides a broad range of standard and specialized insurance products and services for businesses and professionals in the U.S., Canada and Europe.  For more information, please visit CNA at www.cna.com.

Contact

Conference Call and Webcast/Presentation Information

A conference call for investors and the professional investment community will be held at 8:00 a.m. (CT) today.  On the conference call will be Dino E. Robusto, Chairman and Chief Executive Officer of CNA Financial Corporation, Al Miralles, Executive Vice President and Chief Financial Officer of CNA Financial Corporation and other members of senior management.  Participants can access the call by dialing (800) 289-0571, or for international callers, +1 (720) 543-0206.  The call will also be broadcast live on the internet and may be accessed from the Investor Relations page of the CNA website (www.cna.com).  A presentation will be posted and available on the CNA website and will provide additional insight into the results.

The call is available to the media, but questions will be restricted to investors and the professional investment community. An online replay will be available on CNA’s website following the call.  Financial supplement information related to the results is available on the investor relations pages of the CNA website or by contacting [email protected].

Definition of Reported Segments

• Specialty provides management and professional liability and other coverages through property and casualty products and services using a network of brokers, independent agencies and managing general underwriters.
• Commercial works with a network of brokers and independent agents to market a broad range of property and casualty insurance products and services to small, middle-market and large businesses.
• International underwrites property and casualty coverages on a global basis through two insurance companies based in the U.K. and Luxembourg, a branch operation in Canada as well as through our Lloyd’s Syndicate.
• Life & Group primarily includes the results of the individual and group long term care businesses that are in run off.
• Corporate & Other primarily includes certain corporate expenses, including interest on corporate debt, and the results of certain property and casualty business in run-off, including CNA Re, asbestos and environmental pollution (A&EP), excess workers’ compensation and legacy mass tort.

Financial Measures

Management utilizes the following metrics in their evaluation of the Property & Casualty Operations.  These ratios are calculated using financial results prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). 

• Loss ratio is the percentage of net incurred claim and claim adjustment expenses to net earned premiums.
• Underlying loss ratio represents the loss ratio excluding catastrophes and development.
• Expense ratio is the percentage of insurance underwriting and acquisition expenses, including the amortization of deferred acquisition costs, to net earned premiums.
• Dividend ratio is the ratio of policyholders’ dividends incurred to net earned premiums.
• Combined ratio is the sum of the loss, expense and dividend ratios.
• Underlying combined ratio is the sum of the underlying loss, expense and dividend ratios.
• Renewal premium change represents the estimated change in average premium on policies that renew, including rate and exposure changes.
• Rate represents the average change in price on policies that renew excluding exposure change. For certain products within Small Business, where quantifiable, rate includes the influence of new business as well.
• Retention represents the percentage of premium dollars renewed in comparison to the expiring premium dollars from policies available to renew.
• New business represents premiums from policies written with new customers and additional policies written with existing customers.

Gross written premiums ex. 3^rd party captives represents gross written premiums excluding business which is ceded to third party captives, including business related to large warranty programs.

The Company’s investment portfolio is monitored by management through analysis of various factors including unrealized gains and losses on securities, portfolio duration and exposure to market and credit risk.

Reconciliation of GAAP Measures to Non-GAAP Measures

This press release also contains financial measures that are not in accordance with GAAP.  Management utilizes these financial measures to monitor the Company’s insurance operations and investment portfolio.  The Company believes the presentation of these measures provides investors with a better understanding of the significant factors that comprise the Company’s operating performance.  Reconciliations of these measures to the most comparable GAAP measures follow below.

Reconciliation of Net Income (Loss) to Core Income (Loss)

Core income (loss) is calculated by excluding from net income (loss) the after-tax effects of net investment gains or losses and any cumulative effects of changes in accounting guidance.  The calculation of core income (loss) excludes net investment gains or losses because net investment gains or losses are generally driven by economic factors that are not necessarily reflective of our primary operations.  Management monitors core income (loss) for each business segment to assess segment performance.  Presentation of consolidated core income (loss) is deemed to be a non-GAAP financial measure.

Reconciliation of Net Income (Loss) per Diluted Share to Core Income (Loss) per Diluted Share

Core income (loss) per diluted share provides management and investors with a valuable measure of the Company’s operating performance for the same reasons applicable to its underlying measure, core income (loss).  Core income (loss) per diluted share is core income (loss) on a per diluted share basis.

Reconciliation of Book Value per Share to Book Value per Share Excluding AOCI

Book value per share excluding AOCI allows management and investors to analyze the amount of the Company’s net worth primarily attributable to the Company’s business operations.  The Company believes this measurement is useful as it reduces the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates.

Calculation of Return on Equity and Core Return on Equity

Core return on equity provides management and investors with a measure of how effectively the Company is investing the portion of the Company’s net worth that is primarily attributable to its business operations.

For additional information, please refer to CNA’s most recent 10-K on file with the Securities and Exchange Commission, as well as the financial supplement, available at www.cna.com.

Forward-Looking Statements

This press release includes statements that relate to anticipated future events (forward-looking statements) rather than actual present conditions or historical events. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words such as “believes,” “expects,” “intends,” “anticipates,” “estimates” and similar expressions. Forward-looking statements, by their nature, are subject to a variety of inherent risks and uncertainties that could cause actual results to differ materially from the results projected. Many of these risks and uncertainties cannot be controlled by CNA. For a detailed description of these risks and uncertainties please refer to CNA’s filings with the Securities and Exchange Commission, available at www.cna.com.

Any forward-looking statements made in this press release are made by CNA as of the date of this press release. Further, CNA does not have any obligation to update or revise any forward-looking statement contained in this press release, even if CNA’s expectations or any related events, conditions or circumstances change.

Any descriptions of coverage under CNA policies or programs in this press release are provided for convenience only and are not to be relied upon with respect to questions of coverage, exclusions or limitations. With regard to all such matters, the terms and provisions of relevant insurance policies are primary and controlling. In addition, please note that all coverages may not be available in all states.

“CNA” is a registered trademark of CNA Financial Corporation. Certain CNA Financial Corporation subsidiaries use the “CNA” trademark in connection with insurance underwriting and claims activities. Copyright © 2021 CNA. All rights reserved.

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SOURCE CNA Financial Corporation

CINCINNATI and MONROE, Ohio, May 3, 2021 /PRNewswire/ — The Kroger Co. (NYSE: KR) and Drone Express, a division of TELEGRID Technologies, Inc., today announced a pilot to offer grocery delivery via autonomous drones, expanding the retailer’s seamless ecosystem and providing customers with anything, anytime, anywhere.

“Kroger’s new drone delivery pilot is part of the evolution of our rapidly growing and innovative e-commerce business – which includes pickup, delivery, and ship and reached more than $10 billion in sales in 2020,” said Kroger’s Jody Kalmbach, group vice president of product experience. “The pilot reinforces the importance of flexibility and immediacy to customers, powered by modern, cost-effective, and efficient last-mile solutions. We’re excited to test drone delivery and gain insights that will inform expansion plans as well as future customer solutions.”

How the Drone Grocery Delivery Pilot Works
The pilot will offer customers unparalleled flexibility as Drone Express technology allows package delivery to the location of a customer’s smartphone not only to a street address, simply meaning a customer will be able to order delivery of picnic supplies to a park, sunscreen to the beach, or condiments to a backyard cookout, for instance.

Kroger is designing bundled product offerings ideal for meeting customer needs within the current weight limits for drone delivery, which is about five pounds. As an illustration, Kroger will offer a baby care bundle with wipes and formula, a child wellness bundle with over-the-counter medications and fluids, and a S’mores bundle with graham crackers, marshmallows, and chocolate. Using Kroger.com/DroneDelivery, customers can place orders and have eligible orders delivered within as little as 15 minutes.

“Autonomous drones have unlimited potential to improve everyday life, and our technology opens the way to safe, secure, environmentally friendly deliveries for Kroger customers,” said Beth Flippo, Chief Technology Officer, TELEGRID. “The possibilities for customers are endless – we can enable Kroger customers to send chicken soup to a sick friend or get fast delivery of olive oil if they run out while cooking dinner.”

Drone Express will commence test flights this week near the Kroger Marketplace in Centerville, Ohio (1095 South Main Street). The flights will be managed by licensed Drone Express pilots from an on-site trailer with additional off-site monitoring. Customer deliveries are scheduled to begin later this spring, and a second pilot is scheduled to launch this summer at a Ralphs store in California.

“The launch of the pilot in Centerville is the culmination of months of meticulous research and development by Kroger and Drone Express to better serve and meet the needs of our customers,” said Ethan Grob, Kroger’s director of last mile strategy and product. “We look forward to progressing from test flights to customer deliveries this spring, introducing one more way for our customers to experience Kroger.”

“Kroger and Drone Express made a great choice in piloting this program in Centerville – a community with a robust business network focused on progress and stability near the birthplace of aviation,” said Centerville Mayor Brooks Compton. “Families here have the power to transform grocery delivery around the nation and the globe. We look forward to placing our first order.”

Media Assets
To download Kroger and Drone Express photography, please visit here.

About Kroger
At The Kroger Co. (NYSE: KR), we are dedicated to our Purpose: to Feed the Human Spirit™. We are nearly half a million associates who serve over nine million customers daily through a seamless digital shopping experience and 2,800 retail food stores under a variety of banner names, serving America through food inspiration and uplift, and creating #ZeroHungerZeroWaste communities by 2025. To learn more about us, visit our newsroom and investor relations site.

About TELEGRID
Headquartered in New Jersey, TELEGRID Technologies, Inc. is a woman-owned small business founded in 1984 with a focus on providing cutting-edge technologies, including communications and networking equipment and systems for U.S. military and government agencies. In 2018, the company founded Drone Express to integrate its state-of-the-art, military-grade wireless mesh network with advanced drone technologies. Drone Express, which uses only American-made parts in its drones, currently has operations in California, New Jersey, and Ohio. TELEGRID is currently one of only 10 companies pre-approved by the FAA to achieve airworthiness consideration for its DE-2020 unmanned aircraft.

A division of TELEGRID Technologies, Drone Express is a logistics firm that works with companies to strategically integrate drone delivery into supply chains and service offerings. The company recently established a facility in the southwest Ohio community of Monroe as a hub for manufacturing, testing, and piloting of autonomous drones for commercial package delivery.

Drone Express grew out TELEGRID’s extensive experience with the U. S. Department of Defense, which gave the company the proven success necessary to work with the Federal Aviation Administration (FAA) on the certification process. TELEGRID is currently one of only 10 companies pre-approved by the FAA to achieve airworthiness consideration for its DE-2020 unmanned aircraft. The company is also exploring ways to expand the range of drone deliveries Beyond Visual Line of Sight (BVLOS) as part of the FAA’s BEYOND program through lead participant the Choctaw Nation of Oklahoma.  For more information, visit www.telegrid.com. For more information on Drone Express and its commercial drone delivery offering, visit https://droneexpress.ai/.

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SOURCE The Kroger Co.

• 
  Acquisition boosts High Tide’s current U.S. revenue run rate by ~60% to over C$40 Million
  
• 
  Highly accretive transaction for shareholders, as FABCBD generated 2020 revenue of US$10.8 Million and EBITDA of US$4.3 Million – with each metric having more than doubled in each of the past two years
  
• 
  Strong financial profile which generated 74% gross margins and 40% EBITDA margins in 2020
  
• 
  Complementary acquisition adding a fully direct to consumer e-commerce platform, which is in line with High Tide’s retail strengths
  
• 
  Potential for meaningful synergies and cross-selling opportunities, including offering FABCBD products on CBDCity, GrassCity and Smoke Cartel and bringing the FABCBD brand to Canada and the E.U.
  

CALGARY, AB, May 3, 2021 /PRNewswire/ – High Tide Inc. (“High Tide” or the “Company“) (TSXV: HITI) (OTCQB: HITIF) (FRA: 2LY), a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, is pleased to announce that it is taking another step towards solidifying itself as a major player within the U.S. e-commerce marketplace for accessories and hemp-derived CBD products, by entering into a definitive agreement (the “Acquisition Agreement“) pursuant to which High Tide will acquire 80% of Fab Nutrition, LLC. (“FABCBD“), operating as FABCBD for US$20.64 Million (the “Transaction“), and will have a three-year option to acquire the remaining 20% of FABCBD at any time.

Founded in 2017 with its headquarters in Milwaukee, Wisconsin, FABCBD has quickly grown to become one of the most popular brands for hemp-derived CBD products across the U.S., including CBD oils, creams, gummies, and dog treats.  In 2020 FABCBD had over 1.3 Million online impressions and an average order value of US$91.90.  FABCBD’s founder and sole shareholder, Josh Delaney, will join the High Tide team, as general manager of FABCBD, and will help with growing High Tide’s CBD business globally.

“Investors will recall that just over two months ago we declared our intentions to ramp up acquisition activity at High Tide, and we had disclosed our approach to focus on businesses that were in the U.S., compatible with our ecosystem, and generating meaningful results.  In this context, I could not be more thrilled to announce the acquisition of FABCBD,” said Raj Grover, President and Chief Executive Officer of High Tide.  “We evaluated numerous U.S. CBD opportunities and FABCBD clearly stuck out from the rest.  FABCBD has been exceptionally run, having more than doubled revenue and EBITDA in each of 2019 and 2020, including generating terrific gross margins of 74% and EBITDA margins of 40% in 2020 – by far the highest of all CBD companies we evaluated.  In addition to the company’s financial profile, we were also attracted to FABCBD’s corporate social responsibility initiatives and spirit of giving back – which are both ingrained in our DNA as well. With thousands of satisfied U.S. customers, the FABCBD brand is well positioned for international expansion.  I am very excited to welcome Josh and the FABCBD team to the High Tide family,” added Mr. Grover.

“We’ve entertained many potential partners over 2020, measuring strategic fit, team dynamics and company mission.  When we met Raj and the High Tide team, we instantly felt they had the right organization for us to align with. High Tide has a very complementary culture to FABCBD, with a similar EBITDA-focused approach that we appreciate.” said Josh Delaney, CEO of FABCBD.  “Our team is very important and couldn’t be more excited to work with High Tide.  I look forward to being a meaningful shareholder of High Tide and leveraging its resources and reach to continue driving the company’s CBD business globally,” added Mr. Delaney.

Strategic Highlights

Accelerates High Tide’s U.S. exposure – While High Tide was already in the U.S. CBD sector since organically launching CBDCity in May 2020, the addition of FABCBD will turn it into a major player overnight.  Pro forma following the acquisition of FABCBD, the Company’s annual U.S. revenue run rate will exceed C$40 Million.

Immediate synergies and cross-selling opportunities – High Tide plans to offer FABCBD products on its other U.S. e-commerce platforms, CBDCity, GrassCity and Smoke Cartel in the near-term.  A clear opportunity exists to bring the brand to Canada via an arrangement with a licensed producer and sell FABCBD products across High Tide’s own network of 85 retail outlets, as well as other retailers.  Looking further out, High Tide intends to leverage its e-commerce and distribution infrastructure in Amsterdam to take the FABCBD brand to the E.U. market.

Pure e-commerce play is in line with High Tide’s strengths – FABCBD carries multiple product formulations that are exclusive to FABCBD and are manufactured by contract manufacturers around the country. 100% of sales are direct to consumer online from their website. In 2020 FABCBD fulfilled approximately 124,000 orders from over 1 Million unique site visitors.

Highly accretive to financial results – Given its online success and lean overhead, FABCBD generated 2020 gross margins of 74% and EBITDA margins of 40% – both of which are highly accretive to High Tide’s consolidated profile. 

Continued growth – FABCBD has continued to post meaningful gains in both revenue and EBITDA during the first four months of 2021 compared to the prior year period.  Of note, FABCBD generated US$160,000 of sales on April 20, 2021 – which including High Tide’s other platforms results in pro forma sales just shy of C$1 million for this year’s 4/20.

Large global potential – The European Business review recently cited a study by Grandview Research which predicts that, “over the next five years, the global CBD industry is projected to accelerate to $23.6 billion.”¹  According to a Technavio market research report titled Global CBD Oil Market 2020-2024, the global CBD oil market is set to expand by USD $3.52 billion up to 2024, progressing at a compound annual growth rate of over 32%.²

Transaction Details

The Transaction, which is an arm’s length transaction, is subject to, among other things, receipt of required TSX Venture Exchange (“TSXV“) approval, and other customary conditions of closing, is expected to close during the first half of May 2021, implies an enterprise valuation of US$25.80 Million, representing 6.0x 2020 EBITDA.  The consideration for the 80% acquired will be comprised of: (i) US$8.08 Million (the “Share Consideration“) in common shares of High Tide (“High Tide Shares“) on the basis of a deemed price per High Tide Share equal to the volume weighted average price per High Tide Share on the TSXV for the 10 consecutive trading days preceding closing of the Transaction (“Closing“); and (ii) US$12.56 Million in cash (collectively with the Share Consideration, the “Consideration“).  The cash portion of the transaction will be funded entirely with cash on hand.  Upon closing, FABCBD will have approximately US$500,000 of cash and non-cash working capital and inventory of approximately US$550,000.

In addition to the foregoing, FABCBD’s founder has agreed to grant High Tide an option to acquire all the remaining shares in FABCBD not held by High Tide, and become the sole shareholder of FABCBD (the “Call Option“), at an enterprise value equal to the trailing twelve months of EBITDA multiplied by six. The Call Option will be exercisable at any time for a period of three (3) years following the Closing. In addition, High Tide has agreed to grant FABCBD’s founder an option to put to High Tide, the remaining shares in FABCBD not held by High Tide (the “Put Option“), at the same enterprise value of the Call Option. The Put Option will be exercisable by FABCBD’s founder for a period of two (2) years following the first anniversary of the Closing. The consideration under the Call Option or the Put Option, if exercised, will be satisfied in High Tide Shares, on the basis of a deemed price per High Tide Share equal to the volume weighted average price per High Tide Share on the TSXV for the 10 consecutive trading days preceding closing of the Call Option or the Put Option, as the case may be.

Bayline Capital Partners Inc. (“Bayline“) and KPMG LLP served as High Tide’s advisors in connection with the Transaction. In connection with the Transaction, the Company has agreed to pay Bayline, an arm’s length party, a finder’s fee equal to 3% of the Consideration, 50% in cash on Closing, and 50% in High Tide Shares calculated on the same basis as the Share Consideration.

The High Tide Shares issued Bayline and pursuant to the Share Consideration are subject to a statutory hold period of four months and one day.

ABOUT FABCBD

Fab Nutrition, LLC is one of the leading online retailers of hemp-derived CBD products. The company provides a marketplace with a wide variety of high-quality products and formulas, affordable pricing, rapid dependable shipping, and surprisingly personable customer service. The company’s website at www.fabcbd.com.

ABOUT HIGH TIDE

High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company is the most profitable Canadian retailer of recreational cannabis as measured by Adjusted EBIDTA,³ with 85 current locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide’s retail segment features the Canna Cabana, KushBar, Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its numerous consumption accessory businesses including e-commerce platforms Grasscity.com, Smoke Cartel and CBDcity.com, and its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value. Key industry investors in High Tide include Aphria Inc. (TSX:APHA) (NYSE:APHA) and Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB).

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to High Tide’s intention and ability to complete the Transaction on the terms and conditions set out in the Acquisition Agreement; the potential effects of the Transaction on the business of High Tide, including the expectation that the Transaction positioning High Tide to begin online cannabis sales in the United States should federal legalization occur in the United States. While High Tide considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements also necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the retail cannabis markets; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the retail cannabis industries generally; income tax and regulatory matters; the ability of High Tide to implement its business strategy; competition; currency and interest rate fluctuations; the COVID-19 pandemic nationally and globally and the response of governments to the COVID-19 pandemic in respect of the operation of retail stores and other risks.
Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Readers are further cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that (i) High Tide will successfully complete the Transaction (and will obtain all requisite approvals) on the terms and within the timelines anticipated by High Tide (ii) High Tide’s financial condition and development plans do not change as a result of unforeseen events, (iii) there will continue to be a demand, and market opportunity, for High Tide’s product offerings, (iv) current and future economic conditions will neither affect the business and operations of High Tide nor High Tide’s ability to capitalize on anticipated business opportunities), although considered reasonable by management of High Tide at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and as such, undue reliance should not be placed on forward-looking statements.

Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of High Tide in this press release may not be indicative of, and are not an estimate, forecast or projection of High Tide future results.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. High Tide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters referred to above and elsewhere in High Tide’s public filings and material change reports, which are and will be available on SEDAR.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

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SOURCE High Tide Inc.

DENVER, May 3, 2021 /PRNewswire/ — Placekey, the free universal location identifier for places, today announced a strategic relationship with First American Data & Analytics, a division of First American Financial Corporation (NYSE: FAF) and a leading global provider of property and ownership data and advanced analytic solutions.

Placekey launched last year with the support of over 500 organizations and is now establishing a series of high-profile partnerships, among them, Experian and Snowflake. This new relationship with First American Data & Analytics leverages the use of Placekey’s free universal standard identifiers across datasets ranging from tax assessments, foreclosures, county recorder, property valuation, and real estate listings. By doing so, First American data is now available for other vendors and users to access.

The unique identifier can be used to join First American Data & Analytics datasets with other vendor’s datasets to empower businesses to make informed lending and real estate decisions. Most addresses are formatted differently across multiple datasets, which makes it difficult to merge or join. Placekey solves this challenge by creating and sharing a unique identifier for each line of data. The datasets can compare data points, recognize the unique identifier, and seamlessly join attribute data.

“By pairing our datasets to Placekey’s unique identifier, we are helping solve a large industry problem by making nationwide property data more readily available in an easily-consumable way. It will ultimately help reduce friction, minimize errors and improve the speed of data updates,” said Matt Key, director of sales, First American Data & Analytics.

First American is also appending Placekey’s unique identifiers to improve the product experience with other Placekey vendors like Geospatial Insurance Consortium (GIC) and parcel data vendor, Landgrid. By normalizing addresses that previously took hours and hours to clean up, data can be easily joined across datasets. Vendors can now be more efficient, saving them time and money.

More information about Placekey:

Placekey is a free universal location identifier that solves problems around address and POI matching, standardization, deduplication and entity resolution. Placekey launched with the backing of over 500 organizations, including Esri, CARTO, SafeGraph, Accenture, Tableau, and Snowflake. Since launching, Placekey has seen widespread adoption with commercial organizations like TripAdvisor and Experian, city governments, independent developers, and local nonprofits adopting Placekeys in their datasets. Placekey hosts a 7,000-plus-member online Slack community that has used the tool to facilitate COVID-19 research, among other uses.

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SOURCE Placekey

NEW YORK, May 3, 2021 /PRNewswire/ — Loews Corporation (NYSE:L) today reported net income of $261 million, or $0.97 per share, for the first quarter of 2021 compared to a net loss of $632 million, or $2.20 per share, in the first quarter of 2020.

Loews’s strong net income for the first quarter of 2021 was driven by CNA Financial Corporation, which had improved net investment income, net investment gains, and solid underlying property and casualty underwriting results, which excludes the impact of net catastrophe losses and prior year development. Boardwalk Pipelines also contributed positively to Loews’s 2021 quarterly results.

Loews Hotels & Co posted a net loss for the first quarter of 2021 due to the continued negative impact on travel of the COVID-19 pandemic. Last year’s first quarter results included a significant loss related to Diamond Offshore Drilling, Inc., which is no longer a subsidiary.

“Loews had a great first quarter, with excellent results from CNA Financial leading the way. CNA’s underlying combined ratio of 91.9% declined nearly two points from the prior year quarter. Premium growth was strong, driven by continuing rate increases and robust new business,” said James S. Tisch, President and CEO of Loews Corporation. “Additionally, Loews Hotels & Co, the subsidiary hardest hit by the pandemic, is showing signs of progress. With over two-thirds of its rooms located in resort destinations, we think Loews Hotels is well positioned to benefit from this leisure-led recovery.”

As previously disclosed, on April 1, 2021 Loews sold 47% of its interest in Altium Packaging for approximately $420 million in cash, subject to transaction expenses and post-closing adjustments. Per the terms of this transaction, Loews has concluded that it will no longer control Altium under US GAAP and is required to deconsolidate Altium as of the date of the sale. In connection with the sale and deconsolidation, we expect to recognize a pretax gain of approximately $560 million in the second quarter of 2021.

Book value per share was $65.47 at March 31, 2021 compared to $66.34 at December 31, 2020, reflecting a lower unrealized gain position on investments in 2021 due to an increase in interest rates. Book value per share excluding accumulated other comprehensive income (AOCI) increased to $65.35 at March 31, 2021 from $64.18 at December 31, 2020.

CNA’s results increased primarily due to higher net investment income driven by limited partnership and common stock investments and a swing to net investment gains from net investment losses in the prior year period. While CNA generated improved underlying property and casualty underwriting income, this was offset by higher net catastrophe losses.

Boardwalk Pipelines’ earnings increased due to higher revenues from growth projects recently placed into service and improved system utilization due to colder winter weather experienced during the first quarter of 2021.

Loews Hotels’ results declined because of the continued adverse revenue impact of the COVID-19 pandemic. During the first quarter of 2020, operations were at pre-pandemic levels for the first two months of the quarter, with results falling off dramatically as March 2020 progressed. While most of Loews Hotels’ properties were operating during the first quarter of 2021, occupancy rates remained well below pre-pandemic levels. Hotel properties in resort destinations continue to show more improvement than those in city centers.

The parent company investment portfolio recorded income for the quarter as compared to a loss in the prior year period. Results improved primarily due to stronger returns on equity investments.

The Corporate & other segment was negatively impacted by the recognition of a $35 million deferred tax liability resulting from the Altium Packaging transaction.

Loews’s results no longer include Diamond Offshore. In last year’s first quarter, Diamond Offshore’s results included impairment charges totaling $774 million ($408 million after tax and noncontrolling interests) related to the carrying value of four drilling rigs.

SHARE REPURCHASES

At March 31, 2021, there were 263.8 million shares of Loews common stock outstanding. For the three months ended March 31, 2021, the Company repurchased 5.6 million shares of its common stock at an aggregate cost of $274 million. From April 1, 2021 to April 30, 2021, the Company repurchased an additional 0.6 million shares of its common stock at an aggregate cost of $32 million. Depending on market conditions, the Company may from time-to-time purchase shares of its and its subsidiaries’ outstanding common stock in the open market or otherwise.

CONFERENCE CALLS

A conference call to discuss the first quarter results of Loews Corporation has been scheduled for today at 10:00 a.m. ET. A live webcast will be available via the Investors/Media section of www.loews.com. Those interested in participating should dial (877) 692-2592, or for international callers, (973) 582-2757. The conference ID number is 9887092. An online replay will also be available at www.loews.com following the call.

A conference call to discuss the first quarter results of CNA has been scheduled for today at 9:00 a.m. ET. A live webcast will be available via the Investor Relations section of www.cna.com. Those interested in participating should dial (800) 289-0571, or for international callers, (720) 543-0206.

ABOUT LOEWS CORPORATION

Loews Corporation is a diversified company with businesses in the insurance, energy, hospitality, and packaging industries. For more information please visit www.loews.com.

FORWARD-LOOKING STATEMENTS

Statements contained in this press release which are not historical facts are “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are inherently uncertain and subject to a variety of risks that could cause actual results to differ materially from those expected by management of the Company. A discussion of the important risk factors and other considerations that could materially impact these matters as well as the Company’s overall business and financial performance can be found in the Company’s reports filed with the Securities and Exchange Commission and readers of this release are urged to review those reports carefully when considering these forward-looking statements. Copies of these reports are available through the Company’s website (www.loews.com). Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Any such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.

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SOURCE Loews Corporation

TORONTO, May 3, 2021 /PRNewswire/ – Maverix Private Equity, a Toronto-based private equity firm which recently announced an inaugural USD $500 million growth-fund, has today announced the addition of Michael Wasserman as a Managing Partner, joining Founder John Ruffolo and Mark Maybank. Michael is returning to Canada after 17 years at H.I.G Capital Management, a leading global private equity investment firm with more than $44 billion of equity capital under management. Most recently, Michael was a Managing Director of H.I.G. BioHealth Partners, the firm’s dedicated healthcare investment fund, where Michael sourced, executed and managed a diverse investment portfolio of healthcare business across stages, sectors and geographies. Michael remains a Senior Advisor with H.I.G.  In addition to his firm-wide responsibilities, Michael will be leading Maverix’s investments in Healthcare and Wellness, one of the firm’s core investment themes. 

“I could not be prouder to be coming home to join this talented group of investors and entrepreneurs”, said Michael Wasserman. “The progress and evolution of the Canadian innovation ecosystem in recent years has been nothing short of remarkable. Maverix is uniquely positioned to help catalyze the growth of disruptive Canadian businesses and global leaders and I am truly humbled and excited to be part of this compelling effort.”

In addition to Michael Wasserman, Peter Hass has also joined Maverix as Associate Partner. Peter will be leading investment deal execution including financial modelling and leading due diligence. Peter will also work closely with portfolio companies in strategic and financial management as well as the evaluation of organic and inorganic growth opportunities. Peter is an experienced private equity investor, having formerly worked at both Mattamy Asset Management and OMERS Growth Equity.

Finally, Jonathan Goodman, co-founder, President and CEO of publicly traded Paladin Labs Inc., which was acquired in 2014 by Endo International In. (NASDAQ: ENDP) for $3.2 billion will be joining the Maverix Advisory board as its 6^th member. The Maverix Advisory Board represents a who’s who of successful Canadian entrepreneurs and business leaders, who share a similar mission, to help build the next wave of disruptive Canadian businesses.

Under Mr. Goodman`s leadership, $1.50 invested in Paladin at its founding was worth $142 nineteen years later. The same day that Paladin was sold, Mr. Goodman started a second publicly-traded specialty pharmaceutical company, Knight Therapeutics Inc. (TSX: GUD), which has now raised $685 million of equity in 5 rounds of financing all at increasing valuations. Since inception in February 2014, Knight has generated over $220 million of net income. For the last 25 years, Mr. Goodman has devoted 15% of his time on Tikkun Olam, which has included fielding the largest team in the Province of Quebec for the Ride to Conquer Cancer for 7 consecutive years to filling Place des Arts for the Ted Wise ORT/Jewish Education Gala for 6 consecutive years raising $10+ million to support Jewish education.

ABOUT MAVERIX PRIVATE EQUITY

Maverix Private Equity is a Toronto-based private equity firm. It is led by an experienced and talented team with the background, network, and track record necessary to successfully execute on an investment strategy of technology-enabled growth and disruption. Maverix is currently investing out of its inaugural fund, the Maverix Growth Equity Fund I, of USD$500M. Maverix targets North American companies with rapidly growing revenue and evidence of a profitable business model. Its target cheque size is expected to average USD$50M for meaningful minority positions in portfolio companies.  

For more information on Product:
https://www.maverixpe.com

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SOURCE Maverix Private Equity

JACKSON, Mich., May 3, 2021 /PRNewswire/ — The Consumers Energy Foundation celebrated Earth Month by providing $500,000 to four projects that will help protect and restore Michigan’s land, water and air. Consumers Energy is committed to building a sustainable future for Michigan. Its Clean Energy Plan eliminates coal and dramatically boosts renewable energy to help achieve net zero carbon emissions by 2040.

Huron Pines Resource Conservation & Development Council, Au Sable Institute, Southwest Michigan Land Conservancy and Bay Area Community Foundation are the second annual recipients of the Foundation’s Planet Awards.

“Consumers Energy is dedicated to ensuring Michigan has world-class natural resources – and this means supporting the natural beauty that can be found throughout the state,” said Brandon Hofmeister, president of the Consumers Energy Foundation. “Out of an overwhelming number of worthy applications, we are thrilled to announce and support the 2021 Planet Award winners. We are confident these projects will significantly help preserve and protect Michigan’s treasured land, water and air for the enjoyment of current and many future generations.”

The four winning projects are:

• 
  Gaylord, Mich.
  — Huron Pines Resource Conservation & Development Council($200,000) – The Protect Wild Places project will restore 5,000 acres of wildlife habitat and recreational land, and 150 miles of waterways and Great Lakes shoreline across 17 counties through online and in-person events and conservation efforts in partnership with community leaders, schools, organizations and residents.
• 
  Mancelona, Mich.
  — Au Sable Institute($125,000) – The Good Things Grow Here project will engage local schools and mobilize 3,600 K-12 students to complete 30 habitat restoration projects in Northern Michigan by 2024. Each restoration project will install 1,000 native plants, for a total of 30,000 native plants installed over the next three years in Northern Michigan.
• 
  Kalamazoo, Mich.
  — Southwest Michigan Land Conservancy($100,000) – The project will restore rich habitat on the 140-acre Armintrout-Milbocker Nature Preserve through invasive species management, creation of a holistic management plan, and community access. The project will also lower pollution levels and increase filtration of waters that flow into the Kalamazoo River.
• 
  Bay City, Mich.
  — Bay Area Community Foundation($75,000) – Funding will support the Lake Huron Forever Initiative’s nature-based solutions and projects, community assessments, and training programs to advance water quality protection and healthy, sustainable communities on Lake Huron.

The Planet Awards are the first of three $500,000 grant allocations this year totaling $1.5 million. Additional requests for proposals will be announced later in the year for the $500,000 People Awards and Prosperity Awards. In 2020 the Planet Awards were put on pause to support COVID relief efforts. Planet Awards winners in 2019 were Michigan Nature Association, Conservation Resource Alliance, and Michigan United Conservation Clubs.

The Consumers Energy Foundation is the charitable arm of Consumers Energy, Michigan’s largest energy provider. The Foundation enables communities to thrive and grow by investing in what’s most important to Michigan — its people, our planet and Michigan’s prosperity. In 2020, the Consumers Energy Foundation, Consumers Energy, its employees and retirees contributed over $19 million to Michigan nonprofits. For more information, visit www.ConsumersEnergy.com/foundation.

Consumers Energy, Michigan’s largest energy provider, is the principal subsidiary of CMS Energy (NYSE: CMS), providing natural gas and/or electricity to 6.8 million of the state’s 10 million residents in all 68 Lower Peninsula counties.

For more information about Consumers Energy,
go to
ConsumersEnergy.com.

Check out Consumers Energy on Social Media 

Facebook: https://www.facebook.com/consumersenergymichigan  
Twitter: https://twitter.com/consumersenergy  
LinkedIn: https://linkedin.com/company/consumersenergy  
Instagram: https://www.instagram.com/consumersenergy

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SOURCE Consumers Energy