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TORONTO, April 30, 2021 /PRNewswire/ – Golden Star Resources Ltd. (NYSE American: GSS) (TSX: GSC) (GSE: GSR) (“Golden Star” or the “Company”) is pleased to announce that it has published its 2020 Corporate Responsibility Report. The report has been prepared in accordance with the Global Reporting Initiative Standards (Core option), the United Nations Global Compact reporting requirements and the Sustainability Accounting Standards Board’s (“SASB”) Metals and Mining Sustainbility Accounting Standard. The report and an ESG investor presentation are available on the Company’s website at: http://www.gsr.com/responsibility/default.aspx

2020 CORPORATE RESPONSIBILITY REPORT HIGHLIGHTS

In what was a transformative year for the Company, Golden Star implemented, in 2020, a number of major initiatives and has made significant advancements in respect of the overall sustainability performance. The Corporate Responsibility Report documents our Communication on Progress to the UN Global Compact and discusses the programs that support the Sustainable Development Goals and our progress towards alignment with the World Gold Council (“WGC”) Responsible Gold Mining Principles (“RGMPs”). The report also documents work conducted on the Investor Mining and Safety Tailings Initiative and the WGC Conflict Free Gold Standard. Key highlights of the report include:

• Leading practices in the management of the COVID-19 pandemic resulted in minimal impact to production and, more importantly, no lives lost to COVID-19 and limited serious health outcomes across the workforce.
• Sustained improvement in injury frequency rates across the Company was marred by a fatal incident at Prestea in March 2020.
• Wassa was recognized as the safest mine in Ghana, receiving the Best Performer in occupational health and safety at the Ghana Mining Industry Awards.
• Golden Star continues its leading practice performance in malaria prevention, with 2020 recording the lowest case rates and days lost to malaria on Company record.
• The Company achieved 100% conformance with its statutory monitoring program requirements and above 99% alignment to relevant quality standards.
• Consistent with our Inclusion and Diversity Policy launched in March 2020, the Company maintained its high rates of local content, with 99% of the workforce in Ghana being Ghanaian nationals and 59% of the workforce hailing from local host communities.
• Female representation on the Company’s Board of Directors and senior management remained high, with Golden Star recognized in the Women Lead Here benchmark of executive gender diversity for the second year running. The gender diversity across all levels increased to 8%.
• In 2020, the Company completed the transition to a new energy composition mix at Wassa, which improves energy supply security and provides the opportunity to flatten our energy load consumption profile. A new Genser Energy Ghana natural gas power plant provides a reliable base power supply that enables the Company to explore renewable energy options, while delivering cost savings of $8 million over the first five years.
• Construction of a first of its type, paste backfill plant in Ghana enables the reuse of process tailings for underground mine support. This facilitates improved safety outcomes and reduces volume quantities stored on the tailings storage facilities, thus enabling overall risk reduction.
• The major upgrade of our underground electrical supply system, using a method of cable lowering not previously used before in Africa, has been a testament to our workforce development programs and the benefit of our long running local content initiatives.

Andrew Wray, Chief Executive Officer of Golden Star, commented:

“In dealing with the challenges of an unprecendented global pandemic, we were able to demonstrate the benefits of our focus on operating responsibly and sustainably through our pandemic management controls as well as our local procurement initiatives – we were able to protect our workforce and local communities, ensure stability of our operations and maintain supply chains despite land borders being closed. Not only were we able to continue operations on a reasonably uninterrupted basis, we were able to deliver significantly higher tax revenues to the Government of Ghana which helped it to deal with the financial pressures of the pandemic.

We have always understood that value generation is inherently linked with sustainability. In 2020, we clearly enunciated the understanding that people, culture and leadership, sustainability, operational excellence, financial excellence and growth are equal drivers of success and must be pursued collectively in order to achieve our goals.

We know that good reporting is of limited value if it is not substantiated by good responsible performance. Throughout the organization, our teams have delivered a remarkable performance during 2020. The improvements in water recycling, new initiatives on diversity and inclusion, and the continued strengthening of our governance systems, all demonstrate our ongoing commitment to sustainability.”

For further information, please visit
www.gsr.com
 

Company Profile:

Golden Star is an established gold mining company that owns and operates the Wassa underground mine in the Western Region of Ghana, West Africa. Listed on the NYSE American, the Toronto Stock Exchange and the Ghanaian Stock Exchange, Golden Star is focused on delivering strong margins and free cash flow from the Wassa mine. As the winner of the Prospectors & Developers Association of Canada 2018 Environmental and Social Responsibility Award, Golden Star remains committed to leaving a positive and sustainable legacy in its areas of operation.

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SOURCE Golden Star Resources Ltd.

THE WOODLANDS, Texas, April 30, 2021 /PRNewswire/ — CSI Compressco LP (“CSI Compressco,” “CCLP” or the “Partnership”) (NASDAQ: CCLP) today announced first quarter 2021 results.

First Quarter 2021 Summary:

• Total revenues for the first quarter 2021 were $65.7 million, compared to $71.1 million in the fourth quarter 2020.
• Compression and related services revenue increased sequentially to $54.2 million in the first quarter 2021 compared to $52.6 million in the fourth quarter 2020.
• Net loss was $14.5 million, including $0.4 million in non-recurring charges compared to a net loss of $23.0 million in the fourth quarter 2020 which included $7.6 million in non-recurring charges.
• Adjusted EBITDA was $21.1 million compared to $26.2 million in the fourth quarter 2020. The first quarter of 2021 Adjusted EBITDA included a $0.5 million benefit from the sale of used equipment compared to a $5.8 million benefit in the fourth quarter 2020.
• Distributable cash flow was $4.3 million compared to $7.7 million in the fourth quarter 2020.
• Distribution coverage ratio was 8.9x in the first quarter 2021 compared to 15.9x in the fourth quarter 2020.
• First quarter of 2021 distribution of $0.01 per common unit will be paid on May 14, 2021.

First Quarter 2021

“In the first quarter of 2021, we saw business activity stabilize at similar levels to the fourth quarter of 2020. Revenues, EBITDA and utilization were relatively flat after adjusting for the assets sales from the fourth quarter, which is traditionally a very lumpy business. More importantly, we saw the trends throughout the quarter improve, both in actual results and in forward looking quotes and activity. While we cannot predict with certainty the rest of the year’s performance, the trends give us optimism around our original thesis that 2021 will improve as the year progresses. Our customers appear more confident in their projected activity for the rest of the year and now appear to be executing around those plans. The overall impact of this customer activity, if it continues, is that in the second half of 2021 both the contract compression business and the aftermarket services business should begin to see improving utilization and margins that improve through the rest of the year” commented John Jackson, Chief Executive Officer of CSI Compressco.

“We remain excited about the future of the Partnership and the industry overall. While the improving market trends exist, we recognize that risks around results may persist during 2021, but we are optimistic about both the near-term activity levels and long-term future of the compression industry. Capital discipline, cost management and customer service are areas we continue to aggressively pursue as these are areas we can control. We expect to deliver the highest levels of service and performance to our customers as we have the people and assets in place that allow us to execute efficiently in any environment. We believe the natural gas business has a bright future and is a critical component of the energy infrastructure both today and in the transition in the energy markets in the years ahead.”

Positive net cash provided by operating activities was $9.6 million in the first quarter, compared to $7.0 million in the fourth quarter. Distributable cash flow in the first quarter was $4.3 million, resulting in a distribution coverage ratio of 8.9x.

This press release includes the following financial measures that are not presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”): Adjusted EBITDA, distributable cash flow, distribution coverage ratio, free cash flow, and net leverage ratio. Please see Schedules B-E for reconciliations of these non-GAAP financial measures to the most directly comparable U.S. GAAP measures.

Unaudited results of operations for the quarter ended March 31, 2021 compared to the prior quarter and the corresponding prior year quarter are presented in the table below.           

 

As of March 31, 2021, total compressor fleet horsepower was 1,182,090 and fleet horsepower in service was 900,328 for an overall fleet utilization rate of 76.2% (we define the overall service fleet utilization rate as the service compressor fleet horsepower in service divided by the total compressor fleet horsepower). Idle horsepower equipment under repair is not considered utilized, but we do count units on standby as utilized when the client is being billed a standby service rate.

Balance Sheet

Cash on hand at the end of the first quarter was $20.9 million. No amounts were drawn nor outstanding on the Partnership’s asset-based loan at the end of the first quarter. Our debt consists of $80.7 million of unsecured bonds due in August 2022, $400.0 million of first lien secured bonds due in 2025 and $157.2 million of second lien secured bonds due in 2026. Net loss for the twelve months ended March 31, 2021 was $74.7 million. Net leverage ratio at the end of the quarter was 6.1x.

Capital Expenditures – 2021 Expectations

We expect capital expenditures for 2021 to be between $30.0 million and $40.0 million. The forecast includes between $8.0 million and $12.0 million for new fleet additions. Maintenance capital expenditures are expected to be between $20.0 million and $24.0 million. Investments in the Helix digitally enhanced compression system and other technologies are expected to be between $2.0 million and $4.0 million.

First Quarter 2021 Cash Distribution on Common Units

On April 19, 2021, the board of directors of our General Partner declared a cash distribution attributable to the quarter ended March 31, 2021 of $0.01 per outstanding common unit. This distribution equates to a distribution of $0.04 per outstanding common unit, on an annualized basis. This distribution will be paid on May 14, 2021 to each of the holders of common units of record as of the close of business on April 30, 2021. The distribution coverage ratio for the first quarter of 2021 was 8.9x.

Conference Call

CSI Compressco will host a conference call to discuss first quarter results today, April 30, 2021, at 10:30 a.m. Eastern Time. The phone number for the call is 1-866-374-8397. The conference call will also be available by live audio webcast and may be accessed through CSI Compressco’s website at www.csicompressco.com. An audio replay of the conference call will be available at 1-877-344-7529, conference number 10154468, for one week following the conference call and the archived webcast will be available through CSI Compressco’s website for thirty days following the conference call.

CSI Compressco Overview

CSI Compressco is a provider of compression services and equipment for natural gas and oil production, gathering, artificial lift, transmission, processing, and storage. CSI Compressco’s compression and related services business includes a fleet of approximately 4,900 compressor packages providing approximately 1.2 million in aggregate horsepower, utilizing a full spectrum of low-, medium- and high-horsepower engines. CSI Compressco also provides well monitoring and automated sand separation services in conjunction with compression and related services in Mexico. CSI Compressco’s aftermarket business provides compressor package reconfiguration and maintenance services. CSI Compressco’s customers comprise a broad base of natural gas and oil exploration and production, midstream, transmission, and storage companies operating throughout many of the onshore producing regions of the United States, as well as in a number of foreign countries, including Mexico, Canada and Argentina. CSI Compressco’s general partner is owned by Spartan Energy Partners.

Forward-Looking Statements

This news release contains “forward-looking statements” and information based on our beliefs and those of our general partner, CSI Compressco GP LLC. Forward-looking statements in this news release are identifiable by the use of the following words and other similar words: “anticipates,” “assumes,” “believes,” “budgets,” “could,” “estimates,” “expectations,” “expects,” “forecasts,” “goal,” “intends,” “may,” “might,” “plans,” “predicts,” “projects,” “schedules,” “seeks,” “should,” “targets,” “will,” and “would.” These forward-looking statements include statements, other than statements of historical fact, including anticipated return of standby equipment to in service, the redeployment of idle fleet compressors, joint-bidding on potential projects with Spartan, commodity prices and demand for CSI Compressco’s equipment and services and other statements regarding CSI Compressco’s beliefs, expectations, plans, prospects and other future events, performance, and other statements that are not purely historical. Such forward-looking statements reflect our current views with respect to future events and financial performance, and are based on assumptions that we believe to be reasonable, but such forward-looking statements are subject to numerous risks and uncertainties, including but not limited to: economic and operating condition that are outside of our control, including the trading price of our common units; the severity and duration of the COVID-19 pandemic and related economic repercussions and the resulting negative impact on the demand for oil and gas, operational challenges relating to the COVID-19 pandemic and efforts to mitigate the spread of the virus, including logistical challenges, remote work arrangements, and supply chain disruptions, other global or national health concerns; the current significant surplus in the supply of oil and the ability of OPEC and other oil producing nations to agree on and comply with supply limitations; the duration and magnitude of the unprecedented disruption in the oil and gas industry; the levels of competition we encounter; our dependence upon a limited number of customers and the activity levels of our customers; our ability to replace our contracts with our customers, which are generally short-term contracts; the availability of adequate sources of capital to us; our existing debt levels and our ability to obtain additional financing or refinancing; our ability to continue to make cash distributions, or increase cash distributions from current levels, after the establishment of reserves, payment of debt service and other contractual obligations; the restrictions on our business that are imposed under our long-term debt agreements; our operational performance; the credit and risk profile of Spartan Energy Partners; ability of our general partner to retain key personnel; risks related to acquisitions and our growth strategy; the availability of raw materials and labor at reasonable prices; risks related to our foreign operations; the effect and results of litigation, regulatory matters, settlements, audits, assessments, and contingencies; or potential material weaknesses in the future; information technology risks, including the risk of cyberattack; and other risks and uncertainties contained in our Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission (“SEC”), which are available free of charge on the SEC website at www.sec.gov. The risks and uncertainties referred to above are generally beyond our ability to control and we cannot predict all the risks and uncertainties that could cause our actual results to differ from those indicated by the forward-looking statements. If any of these risks or uncertainties materialize, or if any of the underlying assumptions prove incorrect, actual results may vary from those indicated by the forward-looking statements, and such variances may be material. All subsequent written and verbal forward-looking statements made by or attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to update or revise any forward-looking statements we may make, except as may be required by law.

Reconciliation of Non-GAAP Financial Measures

The Partnership includes in this release the non-GAAP financial measures Adjusted EBITDA, distributable cash flow, distribution coverage ratio, free cash flow, and net leverage ratio. Adjusted EBITDA is used as a supplemental financial measure by the Partnership’s management to:

• assess the Partnership’s ability to generate available cash sufficient to make distributions to the Partnership’s unitholders and general partner;
• evaluate the financial performance of its assets without regard to financing methods, capital structure or historical cost basis;
• measure operating performance and return on capital as compared to those of our competitors; and
• determine the Partnership’s ability to incur and service debt and fund capital expenditures.

The Partnership defines Adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, and before certain charges, including impairments, bad debt expense attributable to bankruptcy of customers, equity compensation, non-cash costs of compressors sold, gain on extinguishment of debt, write-off of unamortized financing costs, and excluding, severance and other non-recurring or unusual expenses or charges.

Distributable cash flow is used as a supplemental financial measure by the Partnership’s management, as it provides important information relating to the relationship between our financial operating performance and our cash distribution capability. Additionally, the Partnership uses distributable cash flow in setting forward expectations and in communications with the board of directors of our general partner. The Partnership defines distributable cash flow as Adjusted EBITDA less current income tax expense, maintenance capital expenditures, interest expense, and severance expense, plus non-cash interest expense.

The Partnership believes that the distribution coverage ratio provides important information relating to the relationship between the Partnership’s financial operating performance and its cash distribution capability. The Partnership defines the distribution coverage ratio as the ratio of distributable cash flow to the total quarterly distribution payable, which includes, as applicable, distributions payable on all outstanding common units, the general partner interest and the general partner’s incentive distribution rights.

The Partnership defines free cash flow as net cash provided by operating activities less capital expenditures, net of sales proceeds. Management primarily uses this metric to assess our ability to retire debt, evaluate our capacity to further invest and grow, and measure our performance as compared to our peer group of companies.

The Partnership defines net leverage ratio as net debt (the sum of the carrying value of long-term and short-term debt on its consolidated balance sheet, less cash, excluding restricted cash on the consolidated balance sheet and excluding outstanding letters of credit) divided by Adjusted EBITDA for calculating net leverage (Adjusted EBITDA as reported externally adjusted for certain items to comply with its credit agreement) for the trailing twelve-month period. Management primarily uses this metric to assess the Partnership’s ability to borrow, reduce debt, add to cash balances, pay distributions, and fund investing and financing activities.

These non-GAAP financial measures should not be considered an alternative to net income, operating income, cash flows from operating activities or any other measure of financial performance presented in accordance with U.S. GAAP. These non-GAAP financial measures may not be comparable to Adjusted EBITDA, distributable cash flow, free cash flow or other similarly titled measures of other entities, as other entities may not calculate these non-GAAP financial measures in the same manner as CSI Compressco. Management compensates for the limitation of these non-GAAP financial measures as an analytical tool by reviewing the comparable U.S. GAAP measures, understanding the differences between the measures and incorporating this knowledge into management’s decision-making process. Furthermore, these non-GAAP measures should not be viewed as indicative of the actual amount of cash that CSI Compressco has available for distributions or that the Partnership plans to distribute for a given period, nor should they be equated to available cash as defined in the Partnership’s partnership agreement.

 

 

 

 

 

 

 

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SOURCE CSI Compressco LP

NEW YORK and PERTH, Australia, April 30, 2021 /PRNewswire/ — PYC Therapeutics (ASX: PYC), a biotechnology company developing a new generation of precision RNA therapeutics to change the lives of patients with inherited diseases, today announced a first quarter update highlighting the progress of its development pipeline, growth of its U.S. operations and upcoming milestones.

“PYC has had an exciting quarter of progress against our Company objectives. We have achieved continued validation of our PPMO technology in our lead candidate VP-001 for retinitis pigmentosa type 11, further development of our ocular pipeline as well as PYC’s first set of preclinical data from our CNS discovery efforts demonstrating superior delivery of RNA therapeutic throughout the brain and spinal cord. The potential of our pioneering PPMO technology is vast and we look forward to advancing this technology to provide solutions for patients with inherited ocular and neurodegenerative diseases for whom treatment options are either limited or unavailable today,” said Sahm Nasseri, U.S. Chief Executive Officer of PYC Therapeutics. “This quarter, we also expanded our U.S. operations with key leadership appointments and engagements with the U.S. biotech ecosystem, underscoring the significant steps we are taking towards our transformational goal of becoming a multi-asset clinical stage biotechnology company. PYC is well positioned to maintain this momentum into the second quarter of 2021 with important larger animal studies commencing for VP-001, deeper development of VP-002 and into the balance of 2021 with continued development of our pipeline in both the eye and the CNS.”

“This is a transformational time for PYC. For some time, we’ve had significant excitement in our PPMO technology’s potential for impact in treating numerous genetic and acquired diseases and it’s truly humbling to see that excitement being translated into results through both our lead program development, and our technology’s continued validation,” commented Alan Tribe, Chairman of PYC Therapeutics. 

Recent Achievements

Inherited Ocular Diseases:

 

• Demonstrated key functional improvement in patient-derived models for VP-001, PYC’s lead candidate for the treatment of retinitis pigmentosa type 11 (RP11), building further confidence that VP-001 will have meaningful clinical impact for patients. The Company announced preclinical results in March showing that VP-001 restored function of the retinal pigment epithelium (RPE), the structure that provides the critical blood-retinal barrier in healthy eyes and is compromised in patients with RP11. VP-001 is the first and only treatment to demonstrate restoration of this crucial barrier function in patient-derived models¹, a critical readout that demonstrates correction of an underlying pathology in the disease, and one that differentiates VP-001 from adeno-associated virus (AAV) delivered DNA therapies. These results build on PYC’s additional preclinical research last year demonstrating the effectiveness of VP-001 in preclinical models to upregulate PRPF31, the critical protein deficient in patients with RP11. PYC expects to report results from important larger animal tolerability studies in the middle of 2021, with the goal of submitting an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) in mid 2022.
• Progressed development of VP-002 for the treatment of autosomal dominant optic atrophy (ADOA). There is currently no approved therapy for ADOA, a disease affecting approximately 30 thousand patients in the western world, with an estimated 9 to 16 thousand of which could potentially be addressable by VP-002². PYC expects to report results from patient-derived models in the first half of 2021. These results when combined with the validation of PYC’s PPMO technology in the eye, anticipated from VP-001’s larger animal studies starting in late 1H 2021, will form a strong basis for the VP-002 program. The data being generated have the potential to enable a streamlined development and regulatory pathway for VP-002. PYC anticipates to share additional VP-002 efficacy and safety data across the balance of 2021.
• Advanced our ocular pipeline including proof of concept work with PYC-001 for the treatment of diabetic retinopathy (DR). PYC is cultivating a rich pipeline of novel development candidates to address additional ocular diseases. The Company expects to unveil additional development candidates for the treatment of high unmet need ocular indications during 2021.

Central Nervous System (CNS) Diseases

:

• Demonstrated superior ability of PPMO technology to deliver high levels of RNA therapeutic throughout the brain. In April, PYC announced preclinical results demonstrating its PPMO technology has significant potential to provide therapies for patients with neurodegenerative diseases. This is an important expansion of the application of PYC’s technology beyond the eye. The Company expects to nominate a candidate targeting a high unmet need neurodegenerative condition in 2021. Delivery is important for neurodegenerative disease medicines because insufficient depth of penetration and delivery to target cells has been a cause in preventing drugs from having a meaningful impact without causing significant toxicity. Superior delivery and a better short- and long-term safety profile in preclinical models for PYC’s PPMOs could translate to a higher probability of clinical success and ultimately the creation of truly differentiated and meaningful medicines for CNS patients with significant unmet need. Over 50 million people globally suffer from a neurodegenerative disease, with over 3 million people suffering from rarer neurodegenerative disease such as amyotrophic lateral sclerosis (ALS) or Huntington’s disease³. PYC’s PPMO technology is uniquely placed to intervene meaningfully in the RNA dysregulation that characterizes many of these disease processes.

Corporate Initiatives:

 

• Expanded U.S.-based management team, including independent Directors, with biopharma industry veterans with expertise in ocular, RNA and other therapeutic development. PYC appointed Glenn Noronha, PhD, as Chief Development Officer, joining the U.S.-based management team of Sahm Nasseri, U.S. CEO, and Kaggen Ausma, Chief Business Officer, who relocated to the U.S. in early 2021 from Perth. Dr. Noronha oversees PYC’s translational clinical development, regulatory, manufacturing and preclinical development activities, laying the foundation for VP-001 to advance into the clinic and to initiate evaluation in patients with RP11. PYC also appointed two U.S.-based Board Directors, Jason Haddock and Michael Rosenblatt, MD, who bring decades of combined experiences and integral knowledge in biotechnology clinical development and financial and commercial operations.
• Continued to grow U.S. development capabilities and access to capital markets. A key enabler for PYC to unlock the full potential of its PPMO technology has been to deeply engage with the U.S. biotech ecosystem in order to access critical drug development capabilities and also to establish PYC as an RNA therapeutics leader amongst potential partners and sophisticated biotech focused investors. In the first quarter, PYC’s management was invited to present alongside other industry leaders at several healthcare and investor conferences. The Company expects to establish a West Coast location for its U.S. corporate headquarters this year, which will complement the continued drug discovery and scientific research hub in Perth.
• Holds strong cash position to support program discovery and development and continued U.S. expansion. PYC ended March 2021 with $41 million in cash and cash equivalents. Based on its current operating plans, and considering the Australian R&D tax rebate, this provides the Company with a multi-year cash runway enabling a very strong foundation for execution of both Corporate and Program objectives.

“We continue to execute on the strategic goals we laid out to advance our transformation from an Australia-based discovery-focused organization into an Australia and U.S.-based multi-asset clinical stage biotechnology company,” continued Mr. Nasseri, U.S. CEO of PYC. “We look forward to sharing continued progress this year, including achieving our preclinical data milestones for all three of our defined programs in ocular diseases and announcing our CNS candidate, as we further validate our PPMO technology platform across indications to develop treatments for patients with a range of significant unmet needs.”

About PYC Therapeutics
PYC Therapeutics (ASX: PYC) is a development-stage biotechnology company pioneering a new generation of RNA therapeutics that utilize PYC’s proprietary library of naturally derived cell penetrating peptides to overcome the major challenges of current genetic medicines. PYC believes its PPMO (Peptide conjugated Phosphorodiamidate Morpholino Oligomer) technology enables a safer and more effective RNA therapeutic to address the underlying drivers of a range of genetic diseases for which no treatment solutions exist today. The Company is leveraging its leading-edge science to develop a pipeline of novel therapies including three preclinical stage programs focused on inherited eye diseases and preclinical discovery efforts focused on neurodegenerative diseases. PYC’s discovery and laboratory operations are located in Australia, and the Company recently launched an expansion into the U.S. for its preclinical, clinical, regulatory and corporate operations.  For more information, visit pyctx.com, or follow us on LinkedIn and Twitter.

Forward looking statements

Any forward-looking statements in this ASX announcement have been prepared on the basis of a number of assumptions which may prove incorrect and the current intentions, plans, expectations and beliefs about future events are subject to risks, uncertainties and other factors, many of which are outside the Company’s control. Important factors that could cause actual results to differ materially from assumptions or expectations expressed or implied in this ASX announcement include known and unknown risks. Because actual results could differ materially to assumptions made and the Company’s current intentions, plans, expectations and beliefs about the future, you are urged to view all forward-looking statements contained in this ASX announcement with caution.  The Company undertakes no obligation to publicly update any forward-looking statement whether as a result of new information, future events or otherwise.

¹ Preclincial models for Adeno-Associated Virus (AAV) delivered DNA therapies have not been demonstration in this in preclinical testing, See Brydon EM, Bronstein R, Buskin A, Lako M, Pierce EA, Fernandez-Godino R. AAV-Mediated Gene Augmentation Therapy Restores Critical Functions in Mutant PRPF31+/- iPSC-Derived RPE Cells. Mol Ther Methods Clin Dev. 2019 Nov 11;15:392-402.
² Yu-Wai-Man P, et al. The prevalence and natural history of dominant optic atrophy due to OPA1 mutations. Ophthalmology. 2010 Aug;117(8):1538-46, 1546.e1; Lenaers G, Hamel C, Delettre C, et al. Dominant optic atrophy. Orphanet J Rare Dis. 2012;7:46. Published 2012 Jul 9. 6
³ GBD 2016 Neurology Collaborators. Global, regional, and national burden of neurological disorders, 1990-2016: a systematic analysis for the Global Burden of Disease Study 2016. Lancet Neurol. 2019 Parkinson included in ‘rarer disease’ to distinguish from Alzheimer’s.

CONTACTS:

INVESTORS
Deborah Elson/Matthew DeYoung
Argot Partners
[email protected]
[email protected] 

MEDIA
Leo Vartorella
Argot Partners
[email protected]

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SOURCE PYC Therapeutics

DELAWARE, Ohio, April 30, 2021 /PRNewswire/ — Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, today announced that it has completed its previously announced sale of 69,200 acres of timberlands in southwest Alabama to Weyerhaeuser Company (NYSE: WY) for approximately $149 million in cash.

Proceeds from the sale will be used for debt repayment and will accelerate the transfer of Greif’s enterprise value from debt to equity holders in line with the Company’s stated financial priorities.

About Greif, Inc.

Greif is a global leader in industrial packaging products and services and is pursuing its vision: In industrial packaging, be the best performing customer service company in the world. The Company produces steel, plastic and fibre drums, intermediate bulk containers, reconditioned containers, flexible products, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes and cores and a diverse mix of specialty products. The Company also manufactures packaging accessories and provides filling, packaging and other services for a wide range of industries. In addition, Greif manages timber properties in the southeastern United States. The Company is strategically positioned in over 40 countries to serve global as well as regional customers. Additional information is on the Company’s website at www.greif.com. 

Contacts:
Matt Eichmann
Office: 740–549–6067
Email: [email protected]

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SOURCE Greif, Inc.

ALPHARETTA, Ga., April 30, 2021 /PRNewswire/ — Avanos Medical, Inc. (NYSE: AVNS) will webcast its conference call discussing financial results and business highlights for the first quarter 2021 on Friday, May 7 at 9 a.m. ET. The company will issue a news release detailing its results before the market opens that same day.

The conference call will be hosted by Joe Woody, chief executive officer, and Michael Greiner, senior vice president and chief financial officer.

To join the live conference call, dial 877-240-5772 in the United States. A simultaneous webcast of the call and a related presentation will be accessible via the Investors section of the Avanos Medical website, https://avanos.investorroom.com/.

   A replay of the conference call will be available May 7 at noon ET by dialing 877-344-7529 in the United States and entering passcode 10156077. It will be available for one week. A replay of the webcast also will be accessible in the Investors section of the website, approximately one hour following the completion of the conference call.

About Avanos Medical, Inc.



Avanos Medical (NYSE: AVNS) is a medical device company focused on delivering clinically superior breakthrough solutions that will help patients get back to the things that matter. Headquartered in Alpharetta, Georgia, Avanos is committed to creating the next generation of innovative healthcare solutions which will address our most important healthcare needs, such as reducing the use of opioids while helping patients move from surgery to recovery. Avanos develops, manufactures and markets its recognized brands in more than 90 countries. For more information, visit www.avanos.com and follow Avanos Medical on Twitter (@AvanosMedical), LinkedIn and Facebook.

 

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SOURCE Avanos Medical

Gage’s eighth retail location is currently welcoming medical patients and will serve adult-use customers in the coming weeks

DETROIT, April 30, 2021 /PRNewswire/ — Gage Growth Corp. (“Gage” or the “Company”) (CSE: GAGE), a leading high-quality craft cannabis brand and operator in Michigan, today announced the grand opening of its eighth provisioning center located in Battle Creek. This announcement comes on the heels of Gage’s recent retail expansion in February when the Company opened Cookies Kalamazoo. Patients and customers in Western Michigan will now have access to two Gage provisioning centers. Furthermore, the Company also announced the addition of a provisioning center (dispensary) to its retail portfolio.

Battle Creek Opening

Located at 48 Main Street, Battle Creek, MI, 49014, Gage Battle Creek is currently serving patients with a valid Michigan Medical Marijuana ID and expects to begin welcoming adult-use customers in the coming weeks. The newest location will carry Gage’s entire selection of products, as well as award-winning Cookies branded offerings that are exclusively available at Gage locations.

The 4,600+ square-foot location is expected to create 20+ new jobs in Battle Creek. The Company aims to build a robust cannabis business community in Michigan through its social equity program that awards $50,000 to cannabis entrepreneurs in 20 social equity cities designated by the Michigan Marijuana Regulatory Agency. The application process is open to Michigan residents year-round.

“Michigan’s cannabis market continues to experience unprecedented growth, especially after sales topped $146 million in March alone, and Gage is determined to continue expanding our retail presence in order to meet this growing demand,” said Fabian Monaco, CEO of Gage. “Our Battle Creek team is eager to work with new patients and consumers, as well as community stakeholders, to showcase the mental, physical and social benefits of cannabis.”

Additional Retail Location

Gage is also pleased to announce that the Company has added another provisioning center (the “Dispensary”) to its portfolio. The addition of the Dispensary to the Company’s portfolio is aligned with the Company’s growth strategy to identify, acquire, and operate licensed cannabis provisioning centers, positioning Gage as the leading cannabis brand in the state of Michigan.

The Dispensary is expected to open within 30 calendar days with projected revenue of US$10-12 million in the next twelve months. The transaction is expected to be accretive to Gage on a revenue and Adjusted EBITDA basis.

About Gage

Gage Growth Corp. is innovating and curating the highest quality cannabis experiences possible for cannabis consumers in the state of Michigan and bringing internationally renowned brands to market. Through years of progressive industry experience, the firm’s founding partners have successfully built and grown operations with federal and state licenses, including cultivation, processing and retail locations. Gage’s portfolio includes city and state approvals for 19 “Class C” cultivation licenses, three processing licenses and 13 provisioning centers (dispensaries).

For more information about Gage Growth Corp., visit www.gagecannabis.com.

Instagram: @gagecannabis
Facebook: @gageusa
Twitter: @gagecannabisco

Gage Contact:
1-(833)-455-GAGE (4243)
[email protected]

Sources: Gage Growth Corp., Marijuana Regulatory Agency.

Non-IFRS Financial Measures

This press release refers to “Adjusted EBITDA” which is a non-IFRS financial measure. This non-IFRS financial measure does not have a standardized definition under IFRS, nor is it calculated or presented in accordance with IFRS and may not be comparable to similar measures presented by other companies. The Company defines “Adjusted EBITDA” as net income (loss) from operations, as reported, before interest and tax, adjusted to exclude extraordinary items, non-recurring items, other non-cash items, including stock-based compensation expense, depreciation and amortization, foreign exchange and acquisition related costs, if applicable.

The Company has referenced this non-IFRS financial measure as supplemental information and believes it provides a valuable additional measure to use when analyzing the operating performance of the business. As other companies may calculate this non-IFRS measure differently than the Company, this metric may not be comparable to similarly titled measures reported by other companies. We caution readers that Adjusted EBITDA should not be substituted for determining net loss as an indicator of operating results, or as a substitute for cash flows from operating and investing activities.

Explanatory Note Regarding the Company’s Operations

References in this news release to the Company and its operations and assets are inclusive of the operations and assets of certain licensed cannabis operators that operate under the Gage brand pursuant to contractual arrangements with the Company. For additional information, please refer to the Company’s long form prospectus dated March 26, 2021 and other disclosure documents available on the Company’s profile at www.sedar.com.

Caution Regarding Cannabis Operations in the United States

Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. While legal in certain states, cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation. Investors should carefully read the risk factors and disclosures contained in the Company’s long form prospectus dated March 26, 2021 and other disclosure documents available on the Company’s profile at www.sedar.com.

Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Gage’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Gage’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, statements about the opening and financial performance of the Dispensary.

By identifying such information and statements in this manner, Gage is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Gage has made certain assumptions. Although Gage believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: unexpected costs or delays in the completion of the Company’s proposed dispensaries and other operations; negative results experienced by the Company as a result of general economic conditions or the ongoing COVID-19 pandemic; delays in the ability of the Company to obtain certain regulatory approvals; unforeseen delays or costs in the completion of the Company’s construction projects; adverse changes to demand for cannabis products; ongoing projects by competitors that may impact the relative size of the Company’s operations; adverse changes in applicable laws; adverse changes in the application or enforcement of current laws, including those related to taxation; increasing costs of compliance with extensive government regulation; changes in general economic, business and political conditions, including changes in the financial markets; and the other risks disclosed in the Company’s long form prospectus dated March 26, 2021 and other disclosure documents available on the Company’s profile at www.sedar.com.

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Gage does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Third Party Information

This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources.

SOURCE: Gage Growth Corp.

Related Links
https://gagecannabis.com

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SOURCE Gage Cannabis Co.

BEIJING, April 30, 2021 /PRNewswire/ — Puxin Limited (NYSE: NEW) (“Puxin” or the “Company”), a successful consolidator of the after-school education industry in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2020 with the Securities and Exchange Commission (the “SEC”) on April 30, 2021. The annual report on Form 20-F, which contains its audited financial statements, can be accessed on the SEC’s website at http://www.sec.gov as well as via the Company’s investor relations website at http://ir.pxjy.com/.

The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders upon request. Requests should be directed to the Company’s IR Department via email at [email protected].

About Puxin Limited

Puxin Limited (NYSE: NEW, “Puxin” or the “Company”) is a successful consolidator of the after-school education industry in China. Puxin has a strong acquisition and integration expertise to effectively improve education quality and operational performance of acquired schools. Puxin offers a full spectrum of K-12 and study-abroad tutoring programs designed to help students achieve academic excellence, as well as prepare for admission tests and applications for top schools, universities and graduate programs in China and other countries. The Company has developed a business model effectively combining strategic acquisitions and organic growth achieved through successful post-acquisition integration, which has differentiated the Company from other after-school education service providers in China. For more information, please visit http://www.pxjy.com/.

Contacts

Puxin Limited
Investor Relations
Phone: +86-10-6269-8930
E-mail: [email protected]

ICA (Institutional Capital Advisory)
Mr. Kevin Yang
Phone: +86-21-8028-6033
E-mail: [email protected]

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SOURCE Puxin Limited

MONTREAL and PARIS, April 30, 2021 /PRNewswire/ – Boralex Inc. (“Boralex” or the “Company”) (TSX: BLX) announced today the sale of the 12 MW Blendecques cogeneration plant, the last thermal energy asset in its French portfolio. The sale was concluded on Friday, April 30, 2021, to papermaker Norpaper, Boralex’s long-time partner in Blendecques, in Northern France, and the sole beneficiary of the thermal power produced by the plant. This will go into effect on May 1.

Boralex, a 100% green operator in Europe

As the leader in the energy transition, Boralex’s primary business is to produce renewable power. Selling this asset enables the Company to position itself as a 100% green operator in Europe. This decision is also consistent with Boralex’s strategic plan for 2023.

“By its nature, this activity is no longer aligned with our renewable production sites. This sale will enable us to focus full time on our strategic assets,” said Nicolas Wolff, Vice President and General Manager Boralex, Europe.

The plant will maintain its current operations

During the sale process, Norpaper informed Boralex that it wanted to maintain the plant’s current operations. The papermaker therefore proposed to retain the seven jobs assigned to managing the cogeneration facility. All employees involved accepted this transfer and will be joining Norpaper’s ranks as of May 1.

“We didn’t want the sale to impact employees,” said Nicolas Wolff. “The teams have my sincerest appreciation for their collaboration throughout this process. This is truly a milestone and I thank them for their commitment to Boralex over the years. The Blendecques cogeneration plant’s sale is also a testament to its quality as an asset. I wish them all the best with our long-time partner, Norpaper.”

About Boralex

Boralex develops, builds and operates renewable energy power facilities in Canada, France, the United Kingdom and the United States. A leader in the Canadian market and France’s first independent onshore wind power producer, the Corporation is recognized for its solid experience in optimizing its asset base in four power generation types – wind, hydroelectric, thermal and solar. Boralex ensures sustainable growth by leveraging the expertise and diversification developed for 30 years. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

More information is available at www.boralex.com or www.sedar.com. Follow us on Facebook, LinkedIn and Twitter.

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SOURCE Boralex Inc.