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TRI Pointe Homes Colorado Names Linda Purdy as New Division President

The homebuilding veteran brings strong land acquisition and land development experience as well as market knowledge to the company’s growth efforts in a top 10 housing market

DENVER, Jan. 04, 2021 (GLOBE NEWSWIRE) — TRI Pointe Homes Colorado, a member of the TRI Pointe Group (NYSE: TPH) family of premium regional homebuilders, has named Linda Purdy division president. Purdy, who joined the division as vice president of land acquisition, brings more than 25 years of residential land acquisition and development experience to the new position in which she will focus on elevating the division’s growth and enhancing product diversification.

“We are very excited to promote Linda to division president, knowing that her strong leadership, teamwork and communication skills, combined with solid business acumen and homebuilding experience, will propel TRI Pointe Homes Colorado forward to achieve its future growth potential,” said TRI Pointe Group President and COO Tom Mitchell. “From Day one in her role as vice president of land acquisition, Linda combined extensive land acquisition and development, project management, and compliance expertise with an outstanding reputation and strong relationships in the Denver market, which will contribute to her success in leading the division.”

The Mile High City ranks 9th nationally in homebuilding prospects for 2021,1 and also made the top 10 for high-tech job growth in 2018 and 2019.2 TRI Pointe Homes Colorado is well-positioned to take advantage of these strong market fundamentals with more than 1,100 lots currently owned or controlled. Targeting development opportunities near employment centers, transportation and schools, the division opened four new communities in 2020, with five more slated to open in 2021 and six additional communities in the pipeline for 2022. Purdy’s initial efforts as division president will include the January 2021 opening of the Trails at Crowfoot community in Parker as well as the first quarter 2021 grand openings of the Sunstone at Terrain duplex community in Castle Rock and Sterling Ranch Townhomes in Littleton.

“The opportunity to lead TRI Pointe Homes Colorado is a truly remarkable one,” said Purdy. “Combine the talent, experience and local relationships of the Colorado team, the backing of TRI Pointe Group, and Denver’s promising market conditions, and you have a recipe for great homebuilding performance. We are committed to broadening our new home offerings to adapt to varying buyer profiles, including those looking for more attainable opportunities within the market. During the next three years, we anticipate doubling the division’s footprint as TRI Pointe Homes continues to expand across a variety of price points and market segments including first-time buyers and age-targeted communities in addition to our very successful move-up and luxury products.”

Prior to joining TRI Pointe Homes Colorado, Purdy spent a total of 15 years at Richmond American Homes, ultimately holding the position of senior vice president, overseeing all land-related functions for its Colorado division. Purdy also held development and land management positions at Centex Homes and Hamon Contractors. She holds a Bachelor of Arts in Environmental Conservation from the University of Colorado and a law degree from the University of Denver.

About TRI Pointe Homes® Colorado

Based in Denver, Colorado, TRI Pointe Homes Colorado designs, constructs, and sells innovative single-family homes and townhomes. Founded on more than a century of combined real estate industry experience, the division focuses on building quality master-planned and urban infill communities throughout Colorado. Dedicated to insightful design and superior craftsmanship, the division is setting a new standard in homebuilding and customer experience. TRI Pointe Homes Colorado was most recently honored with a 2020 Nationals℠ Silver Award by the NAHB National Sales and Marketing Council. TRI Pointe Homes Colorado was also named one of the 2018 Top Workplaces to Work by The Denver Post. It was also honored with several customer experience and design honors including Eliant Homebuyers’ Choice Awards in 2017 and 2018. TRI Pointe Homes Colorado is also a four-time recipient of the Home Builders Association HAP Awards (Homebuilders and Associates in Partnership) in the National Production Builder category by the Associate Member Trade Council in 2015 to 2018. TRI Pointe Homes was also recognized as 2016 Builder of the Year by Builder and Developer magazine. TRI Pointe Homes is a member of TRI Pointe Group® (NYSE: TPH), a family of premium regional homebuilders. For more information about TRI Pointe Homes Colorado, please visit www.TriPointeHomes.com/Colorado. 

1 Source: “Emerging Trends in Real Estate 2021”
2 Source: “Denver’s Tech Industry Proves Resilient During Pandemic”



Contact
Katy Biggerstaff
NewGround PR & Marketing
562.761.6338 / [email protected]

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TELUS Launches Expanded Sales and Marketing Campaign Showcasing Loop Insights’ IoT Solutions Stack Utilizing Both Direct and Indirect National Sales Channels

TELUS commits to expanded sales and marketing support bolstering the partnership’s go-to-market plan targeting the Hospitality, Retail, and Healthcare sectors.

VANCOUVER, British Columbia, Jan. 04, 2021 (GLOBE NEWSWIRE) — Loop Insights Inc. (MTRX:TSXV) (RACMF:OTCQB) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement and automated venue tracing to the brick and mortar space, is pleased to announce that IoT partner TELUS (T:TSX; TU:NYSE) is accelerating its partnership with Loop Insights in 2021 by launching a direct and indirect national sales & marketing campaign showcasing Loop’s IoT solutions stack.

In addition to mobilizing its own nationwide direct sales force and national marketing tools, TELUS is also launching an expanded sales & marketing campaign through The Acquisition Group (“TAG”). TELUS and TAG will focus on driving:

  • The material benefits from both Loop’s venue tracing solution in support of limiting controlling and eradicating the threat of COVID-19; and
  • The customer intimacy benefits from Loop’s Fobi device as a means of stimulating the market opportunity for these key verticals.

Andrew Turner, TELUS VP Strategic Operations stated “Telus has a long-standing successful relationship with The Acquisition Group and our commitment today is the beginning of a structured sales and marketing promotion facilitated by TELUS in order to address the relevancy and immediate opportunity for the Loop solutions throughout our collaborative customer base.”

Loop Insights CEO Rob Anson stated “It has been a great experience working with the TELUS team and the great support we have received since we officially started working together in October. Today’s commitment to significantly expanded sales and marketing is a great show of confidence and even greater validation of our capabilities. Since the launch of our second product in the Telus IoT Marketplace in December, there has been a great level of interest in our product line and we are looking forward to a very strong roll out now with the addition of The Acquisition Group.”

THE ACQUISITION GROUP – TELUS PARTNER FOR OVER 10 YEARS – TO FOCUS ON HOSPITALITY, RETAIL, AND HEALTHCARE INDUSTRIES

The Acquisition Group (TAG) is a specialized independent sales and marketing organization supporting a number of blue-chip clients in Canada and North America with a specific focus on the information, communication, and technology sector. TAG enables organizations to enhance internal sales and marketing resources and complement core capabilities in order to scale effectively and respond to rapid growth opportunities. TAG has been a key TELUS partner for over 10 years and has supported a number of strategic sales and marketing campaigns, most recently the B2B program for SMB’s across Canada. This initiative focused on the sales of Voice, Data, and Mobility solutions including the innovative suite of IoT Solutions.

Farid Vaziri, Vice President Operations at The Acquisitions Group stated “we have been extremely impressed with the solution stack Loop has developed and we are excited by the potential to enhance the IoT Solutions Portfolio within the TELUS IoT Marketplace. As we all begin to refocus our energies as a result of the impact of COVID on the business community, we see a huge market opportunity for the services that Loop is able to deliver with immediate benefit to the Hospitality, Retail, and Healthcare sectors to name just three.”


On October 15th
, Loop announced the significant milestone of having been accepted into the TELUS IoT Marketplace. The Company’s first product accepted into the IoT Marketplace was our contact tracing product, which has received significant exposure to many of TELUS’s largest customers and ongoing significant discussions with them. The third party validation that came with this acceptance has been instrumental in Loop’s contact tracing discussions with large corporate customers around the world.


On December 3rd
, Loop announced the Launch Of A Second Product Into The TELUS IoT Marketplace For National Sales and Marketing To TELUS Business Customers. The Company’s second product accepted into the IoT Marketplace was our Insights service which consists of our IoT Fobi device, Loop Cloud API, and AI Insights Portal that provide automated marketing capabilities. Connected between the printer and point of sale, Loop’s Fobi device’s real-time capabilities are driven by Artificial Intelligence to enhance the shopping experience. Providing data-driven product suggestions and unique discount codes for future use, Loop enables customers to increase revenues through increased spend per customer.


On December 21st
 Loop announced the January 2021 launch of its Digital Connect Health Platform, a fully-integrated digital healthcare solution designed for both government and private sector. The launch comes after continuous discussions and requests from government leaders, both Provincial and Federal, over the past 7 months after the April 20 launch of the Beta version of its Smart Health contactless check-in platform, which streamlines patient engagement and operations. Loop’s Smart Health device requires a simple tap of the patient’s mobile phone to check in and verify their ID. Patients have frictionless access to everything they need in one simple wallet pass, including real-time notifications, testing and tracing updates, critical health information, and more.

This Press Release Is Available On The Loop Insights Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement https://agoracom.com/ir/LoopInsights/forums/discussion

About Loop Insights

Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop’s products and services are backed by Amazon’s Partner Network.

For more information, please contact:

Loop Insights Inc.   LOOP Website: www.loopinsights.ai
Rob Anson, CEO   Facebook: @ LoopInsights
T : +1 877-754-5336 Ext. 4   Twitter: @ LoopInsights
E: [email protected]   LinkedIn: @ LoopInsights




Forward-Looking Statements/Information:
 

This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives. 

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



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NexImmune Strengthens Scientific Leadership by Appointing Jerome Zeldis as EVP R&D and Jeffrey Weber as Chief Scientific Advisor

  • Zeldis formerly served as Celgene CMO and CEO of Celgene Global Health
  • Weber is a renowned melanoma specialist and leading immunotherapy translational and clinical scientist
  • Both will help NexImmune advance current early-stage clinical trials and will guide Company’s translational efforts to develop new immunotherapy products

GAITHERSBURG, Md., Jan. 04, 2021 (GLOBE NEWSWIRE) — NexImmune, a clinical-stage biotechnology company developing a novel approach to immunotherapy designed to employ the body’s own T cells to generate a specific, potent and durable immune response that mimics natural biology, today announced the hiring of veteran biopharmaceutical industry leader Jerome (Jerry) Zeldis, MD, PhD, as Executive Vice President of Research & Development and the appointment of leading immunotherapy expert Jeffrey Weber, MD, PhD, as Chief Scientific Advisor and Scientific Advisory Board Chair.

“We are very honored to have someone of Dr. Zeldis’ caliber lead our scientific research and clinical development teams. It’s also rewarding to welcome a world-leading immunotherapy expert like Dr. Weber as our first Chief Scientific Advisor,” stated Scott Carmer, NexImmune Chief Executive Officer (CEO). “Both Jerry and Jeff have proven and successful track records in the design and execution of early and late-stage clinical trials that have evaluated novel immune therapies. In addition, their collective research insights will greatly enhance existing efforts to translate the scientific potential of our AIM technology into therapies designed to address significant unmet patient needs.”

Dr. Zeldis, who formerly served as Chief Medical Officer (CMO) and Head of Clinical Research, Medical Affairs, and Drug Safety, at Celgene, and CEO of Celgene Global Health, helped guide Celgene’s expansion into one of the biotechnology industry’s most successful companies. At NexImmune, he will oversee all aspects of research and development. He brings extensive life sciences experience to the Company, gained primarily through his nearly 20-year career at Celgene where he built the medical infrastructure as the company evolved. Later as CMO and President of Clinical Research, Medical Affairs, Drug Safety, Quality, and Regulatory at Sorrento Therapeutics, Inc, he helped to advance its unique immuno-oncology programs. 

Dr. Weber, who serves as deputy director of the Laura and Isaac Perlmutter Cancer Center at NYU Langone Health, and co-director of its Melanoma Research Program, becomes the Company’s first Chief Scientific Advisor, and will also assume the role of Scientific Advisory Board Chair. In this capacity, he will assist and advise the Company’s Research and Review Committee, which is responsible for all pre-clinical and translational research in support of its proprietary AIM technology platform. 

Dr. Weber works at the Laura and Isaac Perlmutter Cancer Center at NYU Langone Health where his primary focus is treating patients with melanoma and other cutaneous malignancies. Through his distinguished career, he has helped to pioneer development of checkpoint blockade immunotherapy strategies in melanoma, led studies into targeted therapies in melanoma, advanced understanding of potential toxicities from emerging immunotherapies, and explored novel immune therapy concepts.

“I look forward to working with Scott and his team at NexImmune to help advance and expand the Company’s research and development pipeline with the ultimate goal of developing next-generation immunotherapies for patients suffering from immune-mediated conditions related to cancers and autoimmune/inflammatory diseases,” Dr. Zeldis commented.

“It is my privilege to advise NexImmune as it seeks to develop novel treatments for melanoma and other cancers,” stated Dr. Weber. “With our collective experience and commitment to improving the treatment landscape for patients, I believe we can develop and establish therapies for cancer that will make a meaningful difference to human health in the near future.”

About NexImmune

NexImmune is a clinical-stage biotechnology company developing a novel approach to immunotherapy designed to employ the body’s own T cells to generate a specific, potent, and durable immune response that mimics natural biology. The backbone of NexImmune’s approach is its proprietary Artificial Immune Modulation (AIMTM) nanoparticle technology platform. The AIM technology enables NexImmune to construct nanoparticles that function as synthetic dendritic cells capable of directing a specific T cell-mediated immune response. By mimicking natural T cell biology, NexImmune’s T cell product candidates are designed to combine the attributes of cellular precision, potency, and persistence with reduced potential for undesired toxicities.

NexImmune’s two lead programs, NEXI-001 and NEXI-002, are in Phase 1/2 clinical trials for the treatment of relapsed AML after allogeneic stem cell transplantation and multiple myeloma refractory to >3 prior lines of therapy, respectively. NexImmune is also developing new AIM nanoparticle constructs and modalities for potential clinical evaluation in oncology and in disease areas outside of oncology, including autoimmune disorders and infectious disease.

For more information, visit www.neximmune.com.

Media Contact:

Mike Beyer
Sam Brown Inc. Healthcare Communications
312-961-2502
[email protected]

Investor Contact:

Chad Rubin
Solebury Trout
+1-646-378-2947
[email protected]



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BOTS INC RETAINS PRESTIGIOUS PATENT LAW FIRM TO HANDLE BITCOIN ATM PATENTS AND OTHER BLOCKCHAIN TECHNOLOGIES

SAN JUAN, PUERTO RICO, Jan. 04, 2021 (GLOBE NEWSWIRE) — BOTS, Inc. (OTC: BTZI), an emerging innovator of products, technologies, and services for the rapidly growing digital robotic automation, blockchain technologies and manufacturing industry announced today that it has retained the services of the prestigious New York, USA and Swiss-based law firm of Henry Park to handle its intellectual property matters.

The Company owns the first “Bitcoin ATM “patent and is actively looking to acquire or license additional Bitcoin related patents. The primary attorney on the BOTS’ account is Joe DiDonado, Esq.

 Mr. DiDonato’s practice concentrates on matters related to intellectual property and gaming as many issues overlap between these two practice areas. Relying on his experience in corporate transactions regarding intellectual property and gaming and his knowledge of the substantive laws and rules of both areas, Mr. DiDonato provides practical legal advice that considers both the business plan and the protection of products and services.

The price of bitcoin surged past the $34,000 mark at the beginning of 2021 -a new all-time-high and this latest milestone follows the 2020 surges that accelerated during the COVID-19 pandemic. The new high took bitcoin’s market cap to two-thirds of a trillion dollars.

Bitcoin.com recently published a report: Blockchain Patents ‘Skyrocket’ in 2020, Alibaba Owns the Most Crypto Patents -indicated that a study from the team at Kisspatent shows that Alibaba Group is the largest blockchain patent holder in 2020 capturing 10x the number of patents held by IBM. The report notes that blockchain patents “are skyrocketing” this year and so far in 2020, there’s been more distributed ledger technology and cryptocurrency patents published than all of 2019. It seems distributed ledger technology and cryptocurrency solution patents are becoming a thing again in 2020. A few years ago various reports said that Bank of America (BoA) and the firm Nchain were gobbling up all the patents applied to digital assets and blockchain technology.

Paul Rosenberg, BOTS Inc’s CEO stated, “We are excited to have Joseph’s intellectual property experience in guiding us in protecting our valuable Bitcoin ATM intellectual properties. We are actively looking to acquire or license and develop additional Bitcoin related intellectual property and currently are negotiating to license additional patents in this space.”

As previously announced: BTZI is the founder of the First Worldwide Bitcoin ATM consortium or network, blockchain-powered computer network that will enable Bitcoin ATM customer wallets issued by a Bitcoin ATM operator that will be a member of the network to be used to perform Bitcoin ATM transactions through ATMs that belong to another operator of the network. This is especially convenient when traveling abroad, where Bitcoin ATMs may be widely available. A network is a common way of delivering buying or selling cryptocurrency services that increase the network value by linking many operators together. For example, the value of a cellular telephone network to customers increases with the number of customers that can be reached via the global network. Similarly, Bitcoin ATM networks will link together Bitcoin ATMs in various locations, giving the customers of each operator greater access to their crypto accounts.

According to CoinATMradar.com, as of January 2021, there were over 11,400 Bitcoin ATMs installed in the USA.  Average Bitcoin ATM kiosk processes 130-180 transactions monthly. This translates into $18-20  Million as potential income for the Company per year.

What Is Bitcoin (BTC)?

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people named, “Satoshi Nakamoto.” It was launched soon after, in January 2009.

Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words -to allow “online payments to be sent directly from one party to another without going through a financial institution.”

Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About BOTS, Inc.

Headquartered in San Juan, Puerto Rico, BOTS, Inc., a publicly-traded OTC Markets innovator trading under the symbol (BTZI) – is a diversified company developing and servicing blockchain and robotics solutions for its clientele. The Company is committed to driving the innovations needed to shape the future of digital robotic automation management through digital technology and decentralized blockchain solutions. Management is dedicated to the strong growth of Distributed Asset Technology and Robotic Process Automation (RPA).

Shareholders, potential investors, and others should note that we announce material events and material financial information to our shareholders and the public using our website and the social media addresses listed below, as well as in our SEC filings, press releases, public conference calls, and webcasts. We also use social media to communicate with our subscribers and the public about our Company, services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, we encourage shareholders, the media, and others interested in our Company to review the information we post on the U.S. social media channels listed below. This list may be updated from time to time.

Track BTZI news on Facebook @ https://www.facebook.com/Bots.Bz/

Follow BTZI news on Twitter @Bots_bz http://www.Twitter.com/Bots_bz

Find BTZI news at http://www.bots.bz

Bots, Inc. has been featured in media nationwide, including CNBC, Bloomberg, TheStreet.com.

Forward-Looking Statements

Certain statements contained in this press release may constitute “forward-looking statements.” Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in the Company’s filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release, and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company’s website and filings.

Contact:

Paul Rosenberg, CEO

[email protected]



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Cenovus closes transaction to combine with Husky

CALGARY, Alberta, Jan. 04, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is pleased to announce that its strategic combination with Husky Energy Inc. has closed. The transaction creates a resilient integrated energy leader that is well positioned to provide superior returns for investors over the long term, as well as strong environmental, social and governance (ESG) performance.

The transaction was completed through a definitive arrangement agreement announced on October 25, 2020 under which Cenovus and Husky agreed to combine in an all-stock transaction. Pursuant to the transaction agreement, Husky common shareholders received 0.7845 of a Cenovus common share and 0.0651 of a Cenovus common share purchase warrant in exchange for each Husky common share. In addition, Husky preferred shareholders exchanged each Husky preferred share for one Cenovus preferred share with substantially identical terms.

Cenovus common shares remain listed on the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE) under the ticker symbol CVE. The Cenovus warrants have been listed on the Toronto and New York exchanges under the ticker symbols (TSX: CVE.WT) and (NYSE: CVE WS). The Cenovus preferred shares Series 1, Series 2, Series 3, Series 5 and Series 7 have been listed on the TSX under the ticker symbols CVE.PR.A, CVE.PR.B, CVE.PR.C, CVE.PR.E and CVE.PR.G. The Cenovus warrants and Cenovus preferred shares are expected to commence trading on the TSX at the opening of market on January 6, 2021 and the Cenovus warrants are expected to begin trading on the NYSE at the opening of market on January 6, 2021. The Husky common shares and preferred shares are expected to be delisted by the TSX at the close of market on January 5, 2021.

With the close of the transaction, Husky has become a wholly owned subsidiary of Cenovus and will remain as such until completion of a planned amalgamation among the two entities. Upon amalgamation, Cenovus will become the obligor under Husky’s existing long-term notes and other direct obligations. The combined company will continue to be headquartered in Calgary.

“This is an exciting day for Cenovus as we become a leaner, stronger, more fully integrated oil and natural gas company that is exceptionally well-positioned to weather the current environment and be an energy leader in the years ahead,” said Alex Pourbaix, Cenovus President & Chief Executive Officer. “With the closing of this transaction, we will focus on safely and efficiently integrating the assets and teams of these two great companies while working to realize the $1.2 billion in synergies we’ve identified. These cost and capital efficiencies, combined with our strong portfolio of well-matched upstream production, midstream and downstream assets as well as improved financial strength, are expected to generate strong value for our shareholders.”

The combination creates Canada’s third largest crude oil and natural gas producer, based on total company production, with about 750,000 barrels of oil equivalent per day (BOE/d) of low-cost oil and natural gas production. Cenovus is also now the second largest Canadian-based refiner and upgrader, with total North American upgrading and refining capacity of approximately 660,000 barrels per day (bbls/d). In addition, the company has access to about 265,000 bbls/d of current takeaway capacity from Alberta on existing major pipelines, 305,000 bbls/d of committed capacity on planned pipelines and 16 million barrels of crude oil storage capacity as well as strategic crude-by-rail assets that provide takeaway optionality.

The commitments both Cenovus and Husky have made to world-class safety performance and ESG leadership will remain core to the combined company. This includes an ongoing commitment to transparent performance reporting, an ambition to achieve net zero emissions by 2050 and a plan to set ambitious new ESG targets for the combined company later this year.

“I want to thank and congratulate everyone at Cenovus and Husky for their dedication and hard work in bringing this transaction to a successful conclusion,” Pourbaix said. “This is truly one of the most significant developments in the history of our two companies, and in the history of the Canadian energy industry, for that matter.”

Cenovus expects to provide additional details on its future plans with the release of its 2021 capital budget and updated corporate guidance in late January. Fourth quarter and year-end financial and operating results for both Cenovus and Husky Energy are scheduled for release in mid-February.

ADVISORY

Basis of Presentation

All financial figures and information have been prepared in Canadian dollars (which includes references to “dollars” and “$”), except where another currency has been indicated, and in accordance with International Financial Reporting Standards (“IFRS” or “GAAP”) as issued by the International Accounting Standards Board. Production volumes are presented on a before royalties basis.

Barrels of Oil Equivalent

Natural gas volumes have been converted to barrels of oil equivalent (“BOE”) on the basis of six Mcf to one barrel (“bbl”). BOE may be misleading, particularly if used in isolation. A conversion ratio of one bbl to six Mcf is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil compared with natural gas is significantly different from the energy equivalency conversion ratio of 6:1, utilizing a conversion on a 6:1 basis is not an accurate reflection of value.

Note Regarding Forward-Looking Information

This news release contains certain forward-looking statements and forward-looking information (collectively referred to as “forward-looking information”) within the meaning of applicable securities legislation, including the U.S. Private Securities Litigation Reform Act of 1995, about Cenovus’s current expectations, estimates and projections about the future of the combined company, based on certain assumptions made in light of experiences and perceptions of historical trends. Although Cenovus believes that the expectations represented by such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct.

This forward-looking information is identified by words such as “achieve”, “ambition”, “capacity”, “committed”, “commitment”, “continue”, “expect”, “focus”, “plan”, “position”, “provide”, “remain”, “target”, “will”, or similar expressions and includes suggestions of future outcomes, including statements about: the ability of the combined company to provide superior returns and strong value for investors over the long term as well as strong ESG performance; the planned amalgamation of Husky and Cenovus; the combined company weathering the current environment and being an energy leader; safely and efficiently integrating the assets and teams; realizing $1.2 billion in identified synergies; total company production of about 750,000 BOE/d; daily refining capacity of approximately 660,000 bbls/d; commitment to world-class safety performance; commitment to ESG leadership, including ambitious targets and transparent reporting; reaching the company’s ambition of net zero emissions by 2050 and setting new ESG targets; and expectations for the commencement of trading of the Cenovus warrants on the TSX and the NYSE and the Cenovus preferred shares on the TSX and the delisting of the Husky common shares and preferred shares by the TSX.

Developing forward-looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to Cenovus, Husky and the combined company and others that apply to the industry generally. The factors or assumptions on which the forward-looking information are based include, but are not limited to: the combined company’s ability to successfully integrate the businesses of Cenovus and Husky; access to sufficient capital to pursue any development plans associated with full ownership of Husky; the impacts the transaction may have on the credit ratings of the combined company following closing; the amalgamation of Husky and Cenovus, and the resulting assumption of Husky’s obligations by Cenovus; forecast commodity prices, light-heavy crude oil price differentials and other assumptions; projected capital investment levels, the flexibility of capital spending plans and associated sources of funding; achievement of further cost reductions and sustainability thereof; applicable royalty regimes, including expected royalty rates; future improvements in availability of product transportation capacity; increases to the combined company’s share price and market capitalization over the long term; cash flows, cash balances on hand and access to credit and demand facilities being sufficient to fund capital investments; foreign exchange rate, including with respect to the combined company’s US$ debt and refining capital and operating expenses; the WTI-WCS differential in Alberta remaining largely tied to the extent to which voluntary economically driven supply cuts are made, the potential start-up of Enbridge Inc.’s Line 3 Replacement Program, the completion of the Trans Mountain Expansion and Keystone XL projects, and the level of crude-by-rail activity; the ability of the combined company’s refining capacity, dynamic storage, existing pipeline commitments and financial hedge transactions to partially mitigate a portion of the combined company’s WCS crude oil volumes against wider differentials; accounting estimates and judgments; future use and development of technology and associated expected future results; the combined company’s ability to obtain necessary regulatory and partner approvals; the successful and timely implementation of capital projects or stages thereof; the ability to generate sufficient cash flow to meet current and future obligations; estimated abandonment and reclamation costs, including associated levies and regulations applicable thereto; the combined company’s ability to reach its ambition of net zero emissions by 2050 and to set new ESG targets; the combined company’s ability to obtain and retain qualified staff and equipment in a timely and cost-efficient manner; the combined company’s ability to carry out transactions on the desired terms and within the expected timelines; forecast inflation and other assumptions inherent in the current guidance of Cenovus; expected impacts of the contingent payment to ConocoPhillips; alignment of realized WCS and WCS prices used to calculate the contingent payment to ConocoPhillips; the combined company’s ability to access and implement all technology necessary to efficiently and effectively operate its assets; the continued satisfaction by Cenovus of applicable TSX and NYSE requirements; and other risks and uncertainties described from time to time in the filings made by Cenovus and Husky with securities regulatory authorities.

The risk factors and uncertainties that could cause actual results to differ materially from the anticipated results or expectations expressed in this press release, include: the ability of the combined company to realize the anticipated benefits of, and synergies from, the transaction and the timing thereof; failure to achieve and sustain future cost reductions; the ability of Cenovus and Husky to amalgamate; the timing of the commencement and completion of construction activities, first production and sales, if at all; the impacts of a changing risk profile and possible subjection to a credit rating review, which may result in a downgrade or negative outlook being assigned to the combined company; the potential exposure to political, economic or social instability related to international operations; potential undisclosed liabilities unidentified during the due diligence process; the accuracy of the pro forma financial information of the combined company after the transaction; the interpretation of the transaction by tax authorities; the success of business integration; the focus of management’s time and attention on integration and other disruptions arising from the transaction; the ability to access or implement some or all of the technology necessary to efficiently and effectively operate the assets and achieve expected future results; volatility of and other assumptions regarding commodity prices; the duration of the market downturn; a resurgence in cases of COVID-19, which has occurred in certain locations and the possibility of which in other locations remains high and creates ongoing uncertainty that could result in restrictions to contain the virus being re-imposed or imposed on a more strict basis, including restrictions on movement and businesses; the extent to which COVID-19 impacts the global economy and harms commodity prices; the extent to which COVID-19 and fluctuations in commodity prices associated with COVID-19 impacts the business, results of operations and financial condition, all of which will depend on future developments that are highly uncertain and difficult to predict, including, but not limited to, the duration, spread and severity of the pandemic, the actions taken to contain COVID-19 or treat its impact, the effectiveness and implementation of COVID-19 vaccinations and how quickly economic activity normalizes; the success of new COVID-19 workplace policies and the ability of people to return to workplaces; continued liquidity being sufficient to sustain operations through a prolonged market downturn; the WTI-WCS differential in Alberta does not remain largely tied to the extent to which voluntary economically driven supply cuts are made, the potential start-up of Enbridge Inc.’s Line 3 Replacement Program, the completion of the Trans Mountain Expansion and Keystone XL projects, and the level of crude-by-rail activity; the ability to achieve lower transportation costs as a result of temporarily suspending the crude-by-rail program; the ability to realize the expected impacts of the capacity to store within oil sands reservoirs barrels not yet produced, including possible inability to time production and sales at later dates when pipeline and/or storage capacity and crude oil differentials have improved; the effectiveness of risk management programs, including the impact of derivative financial instruments, the success of hedging strategies and the sufficiency of liquidity positions; the accuracy of cost estimates regarding commodity prices, currency and interest rates; lack of alignment of realized WCS prices and WCS prices used to calculate Cenovus’s contingent payment to ConocoPhillips; product supply and demand; accuracy of share price and market capitalization assumptions; market competition, including from alternative energy sources; risks inherent in marketing operations, including credit risks, exposure to counterparties and partners, including ability and willingness of such parties to satisfy contractual obligations in a timely manner; risks inherent in the operation of a crude-by-rail terminal, including health, safety and environmental risks; the ability to maintain desirable ratios of net-debt-to-adjusted-EBITDA as well as net debt to capitalization; the ability to access various sources of debt and equity capital, generally, and on acceptable terms; the ability to finance growth and sustaining capital expenditures; changes in credit ratings applicable to the parties or any of their securities; changes to dividend plans; the ability to utilize tax losses in the future; accuracy of reserves, future production and future net revenue estimates; accuracy of accounting estimates and judgments; the ability to replace and expand oil and gas reserves; potential requirements under applicable accounting standards for impairment or reversal of estimated recoverable amounts of some or all of the assets or goodwill from time to time; the ability to maintain relationships with partners and to successfully manage and operate integrated businesses; reliability of assets including in order to meet production targets; potential disruption or unexpected technical difficulties in developing new products and manufacturing processes; the occurrence of unexpected events such as fires, severe weather conditions, explosions, blow-outs, equipment failures, transportation incidents and other accidents or similar events; refining and marketing margins; cost escalations, including inflationary pressures on operating costs, including labour, materials, natural gas and other energy sources used in oil sands processes and increased insurance deductibles or premiums; potential failure of products to achieve or maintain acceptance in the market; risks associated with fossil fuel industry reputation and litigation related thereto; unexpected cost increases or technical difficulties in constructing or modifying manufacturing or refining facilities; unexpected difficulties in producing, transporting or refining of bitumen and/or crude oil into petroleum and chemical products; risks associated with technology and equipment, including potential cyberattacks; risks associated with climate change and assumptions relating thereto; the combined company’s ability to reach its ambition of net zero emissions by 2050 and to set new ESG targets; the timing and the costs of well and pipeline construction; the ability to secure adequate and cost effective product transportation including sufficient pipeline, crude-by-rail, marine or alternate transportation, including to address any gaps caused by constraints in the pipeline system or storage capacity; availability of, and the ability to attract and retain, critical talent; possible failure to obtain and retain qualified staff and equipment in a timely and cost efficient manner; changes in labour relationships; changes in the regulatory framework in any of the locations in which Cenovus or Husky operate, including changes to the regulatory approval process and land-use designations, royalty, tax, environmental, greenhouse gas, carbon, climate change and other laws or regulations, or changes to the interpretation of such laws and regulations, as adopted or proposed, the impact thereof and the costs associated with compliance; the expected impact and timing of various accounting pronouncements, rule changes and standards; changes in general economic, market and business conditions; the impact of production agreements among OPEC and non-OPEC members; the political and economic conditions in the countries in which Cenovus and Husky operate or supply; the occurrence of unexpected events such as pandemics, war, terrorist threats and the instability resulting therefrom; and risks associated with existing and potential future lawsuits, shareholder proposals and regulatory actions.

Readers are cautioned that the foregoing lists of factors are not exhaustive. Events or circumstances could cause the combined company’s actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information. Readers should carefully consider the risk factors discussed in each of Cenovus’s and Husky’s Management’s Discussion and Analysis (MD&A) and Annual Information Form (AIF) for the year ended December 31, 2019 and MD&A for the three and nine months ended September 30, 2020, which discussions are incorporated by reference herein. The information contained on Cenovus’s website is not incorporated by reference into this news release. The reference to Cenovus’s website is intended to be an inactive textual reference.

You should not place undue reliance on the forward-looking information contained in this news release, as actual results achieved will vary from the forward-looking information provided herein and the variations may be material. Cenovus makes no representation that actual results achieved will be the same in whole or in part as those set out in the forward-looking information. Furthermore, the forward-looking information contained in this news release is made as of the date of this news release. Except as required by applicable securities law, Cenovus undertakes no obligation to update publicly or otherwise revise any forward-looking information or the foregoing list of factors affecting those statements, whether as a result of new information, future events or otherwise or the foregoing lists of factors affecting this information.

This cautionary statement qualifies all forward-looking information contained in this news release. The prospective financial information included in this news release has been prepared by, and is the responsibility of, management of Cenovus.

Cenovus Energy Inc.

Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The company is focused on managing its assets in a safe, innovative and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. Cenovus shares trade under the symbol CVE and are listed on the Toronto and New York stock exchanges. For more information, visit cenovus.com.

Find Cenovus on Facebook, Twitter, LinkedIn, YouTube and Instagram.

CENOVUS CONTACTS:

Investor Relations

Investor Relations general line
403-766-7711

Media Relations

Media Relations general line
403-766-7751



Posted on

REMINDER: CytoDyn to Hold Webcast on January 6 to Provide Timelines for Clinical and Regulatory Developments, Submission of 4 HIV BLAs and EUA Requests for COVID in Different Countries

Correction to inclusion/exclusion criteria for eIND authorization

VANCOUVER, Washington, Jan. 04, 2021 (GLOBE NEWSWIRE) — CytoDyn Inc. (OTC.QB: CYDY), (“CytoDyn” or the “Company”), a late-stage biotechnology company developing Vyrologix™ (leronlimab-PRO 140), a CCR5 antagonist with the potential for multiple therapeutic indications, announced today Nader Pourhassan, Ph.D., President and Chief Executive Officer, Scott Kelly, M.D., Chairman, Chief Medical Officer and Head of Business Development, and Mahboob Rahman, M.D., Ph.D., Chief Scientific Officer, will host an investment community webcast on Wednesday, January 6, 2021.

Management will provide an update on recent clinical and regulatory developments regarding COVID-19 clinical trials, along with other strategic priorities:

1) BLA/MAA submissions to Health Canada, MHRA, EMA, and US FDA
2) HIV prevention trial/monotherapy trial
3) Potential revenue from HIV and manufacturing forecast
4) HIV Cure – amfAR
5) EUA submission timelines to same four agencies for COVID-19, if CD12 Trial results are  supportive of an EUA
6) Long-hauler clinical trial and potential data readout timelines
7) NASH trial and potential interim analysis timeline
8) Cancer trial Breakthrough Therapy designation potential timelines
9) GvHD trial status
10) Stroke/MS new trials in 2021
11) NASDAQ uplisting status

Management will also provide approximately 30-45 minutes to address questions submitted online by analysts and investors.

Date:  Wednesday, January 6, 2021
Time:  1:00 pm PT / 4:00 pm ET
Dial-In:  None.
Questions:  

  • Prior to the webcast, questions can be submitted online to [email protected]
  • During the webcast, questions can be submitted through the webcast link below.

This is a “listen only” webcast, which can be accessed via CytoDyn’s corporate website at www.cytodyn.com under the Investors section/IR Calendar and will be archived for 30 days. Participants are encouraged to go to the website 15 minutes prior to the start of the webcast to register, download and install any necessary software. The webcast can also be accessed via the following link:


https://78449.themediaframe.com/dataconf/productusers/cydy/mediaframe/42723/indexl.html

The replay will be available approximately 60 minutes after the conclusion of the webcast and can be accessed via the above link until February 6, 2021.

Correction: In a press release dated December 30, 2020, the Company specified certain subgroups of patients will be excluded from the eIND authorization process.  The second subgroup is now corrected as: “mechanically ventilated with PEEP >=15 cmH20 with Pa02/FiO2 <=150 mmHg.”

CONTACTS

Investors:

Michael Mulholland
Office: 360.980.8524, ext. 102
[email protected]



Posted on

New Year Brings New CEO for Magna

  • 21-year company veteran Swamy Kotagiri takes the helm at Magna
  • Former Magna President and CTO blends strategic vision, leadership capabilities and technical expertise

AURORA, Ontario, Jan. 04, 2021 (GLOBE NEWSWIRE) — Last October, Magna’s Board of Directors announced the appointment of Swamy Kotagiri as Magna’s next Chief Executive Officer, effective January 1, 2021. Today, Kotagiri begins his first day as CEO and a Director of Magna International.

Kotagiri has been with Magna, one of the world’s largest suppliers in the mobility space, for more than 21 years and served in various product groups and corporate roles, spanning functions including engineering, operations and R&D. He contributed to the company’s recent growth and evolution through his operational leadership and aligned the organization’s strategy around the trends shaping future mobility.

“Our industry is increasingly high-tech, complex and changing. In our 60-year history, Magna has continued to evolve with it, and I am confident we will continue to do so,” said Kotagiri. “How we look at and address the future of mobility will have far-reaching consequences, not just for people, but for society as a whole. My vision for the company is to continue advancing mobility for everyone and everything, while shaping a better future for all. Magna, our strong management team and our entrepreneurial-minded employees are up for the challenge.”

Kotagiri was recently featured in Business Insider’s 100 People Transforming Business, an annual list and series highlighting those across industries who are changing the way the world does business.

TAGS
Chief Executive Officer, corporate leadership

INVESTOR CONTACT
Louis Tonelli, Vice President, Investor Relations
[email protected], (+1) 905.726.7035

MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications & PR
[email protected], (+1) 248.631.7004

ABOUT MAGNA
We are a mobility technology company. We have over 157,000 entrepreneurial-minded employees, 344 manufacturing operations and 93 product development, engineering and sales centres in 27 countries. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities that include body, chassis, exteriors, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting and roof systems. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit www.magna.com.

THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARD-LOOKING STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT 

WWW.MAGNA.COM

.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/df3f6e2e-409d-4b32-871d-b6d709acbf90



Posted on

Vishay Precision Group to Participate in the 23rd Needham Growth Conference

MALVERN, Pa., Jan. 04, 2021 (GLOBE NEWSWIRE) — Vishay Precision Group, Inc. (NYSE: VPG), a leading producer of precision sensors and sensor-based systems, announced that the company will participate in the 23rd Needham Virtual Growth Conference for investors in New York City.

The company’s management is scheduled to present on Wednesday, January 13, 2020 at 3:30 p.m. ET. A live and on-demand webcast of VPG’s presentation will be available to the public and can be accessed from the following link: https://wsw.com/webcast/needham103/vpg/2075598, or on VPG’s website.

For more information, please contact: [email protected].

About VPG

Vishay Precision Group, Inc. (VPG) is an internationally recognized designer, manufacturer and marketer of: components based on its resistive foil technology; sensors; and sensor-based measurement systems specializing in the growing markets of stress, force, weight, pressure, and current measurements. VPG is a market leader of foil technology products, providing ongoing technology innovations in precision foil resistors and foil strain gages, which are the foundation of the company’s force sensors products and its’ weighing and control systems. The product portfolio consists of a variety of well-established brand names recognized for precision and quality in the marketplace. To learn more, visit VPG at www.vpgsensors.com.

For Investors:

Vishay Precision Group
Steve Cantor, 781-222-3516
[email protected]



Posted on

Maoyan: China’s Box Office Revenue Surpassed RMB20 Billion in 2020 to Become World’s Largest Movie Market Amid Pandemic

PR Newswire

BEIJING, Jan. 4, 2021 /PRNewswire/ — Maoyan Entertainment (“Maoyan” or “the Company”) (Hong Kong: 1896), a leading platform providing innovative Internet-empowered entertainment services in China, teamed up with China’s leading social media platform Weibo to jointly release the 2020 China Film Market Report. The report shows that China’s total box office revenue reached RMB20.417 billion (US$3.129 billion) in 2020, making it the largest movie market in the world for the first time, amid the global industry impact of the COVID-19 pandemic.

2020 China movie market highlights:

  • China’s annual total box office reached RMB20.417 billion (US$3.129 billion) in 2020.
  • The total number of movie tickets sold in China reached 548 million in 2020. 
  • 10,700 movie theaters nationwide, roughly 94.8% of all movie theaters, had re-opened for business by the end of 2020, as the domestic COVID-19 outbreak was brought under control. 
  • By December, the Chinese film market had recovered overall to a level of 90% year-on-year, with the monthly box office tally reaching 92%, compared to the same period in 2019. 
  • Historical war dramas, including “The Eight Hundred” and “The Sacrifice,” grossed RMB4.23 billion in the box office, accounting for one-fifth of the total box office revenue this year.
  • The average number of movies watched by Chinese audiences in 2020 was 1.73, a decline from 2.88 in 2019.
  • Annual statistics reflect the impact of nationwide cinema closures for 178 days, which was part of an effort to combat the COVID-19 pandemic. Domestic cinemas began reopening on July 20, 2020.  


China’s film industry shows remarkable recovery from the COVID-19 pandemic

The COVID-19 pandemic had a severe impact on the global movie industry in 2020. In China, movie theaters were closed nationwide during the Chinese New Year holiday in late January, in an effort to control the virus, and started gradually reopening on July 20. Fueled by the successful containment of the pandemic and pent-up moviegoer demand for the in-theater movie experience, China’s box office has shown a remarkable recovery since reopening in July, overtaking North America to become the world’s largest movie market in 2020.

The total box office in China was RMB20.417 billion (US$3.129 billion) in 2020, a decrease of 68.2% year-on-year and a decrease of 66.5% compared to 2018. The national box office revenue for 2020 made China the largest movie market in the world for the first year on record.

According to a mid-December preliminary estimate by The Hollywood Reporter, the North American box office is estimated to have reached $2.3 billion in revenue in 2020.

The total box office revenue since cinemas resumed operations on July 20 was RMB18.061 billion. According to multiple indicators, by December China’s film market had broadly recovered by more than 90% year-on-year, with the total box office tally reaching 92% and the total number of movie tickets sold reaching 90%, compared to the same period last year. By December, average screening attendance had reached 95% of its previous-year number, the average ticket price recovered to 103% of its previous-year price, and the number of newly released movies in December remained the same as December 2019.

Box office revenue peak seasons: summer (July 20 – August 31), National Day holiday (October 1 – 8) and year end (November 27 – December 31), contributed 57.8% of total box office revenue in 2020.


Breakdown of box office revenue by peak seasons in 2020


Box office
revenue (RMB)


Percentage of 2020 total box
office revenue

Summer
(July 20 – August 31)

3.616 billion

17.8%

National Day holiday

(October 1 – 8)

3.967 billion

19.5%

Year End

(November 27 – December 31)

4.16 billion

20.5%

Historical war dramas, including “The Eight Hundred” and “The Sacrifice,” made a significant contribution to the movie market recovery in 2020. The two titles combined grossed RMB4.23 billion at the box office, accounting for one-fifth of the total revenue this year.

Movies with an average rating of over nine on Maoyan’s platform accounted for 59.5% of the total box office revenue in 2020, down from 65.3% in 2019, indicating that ratings were not the key driver of box office success in 2020. Feel-good genres like historical war dramas, comedy and romance were the most popular genres in 2020.


Breakdown of box office by Maoyan rating 2017-2019 (scored out of 10)


Under 8


8-8.5


8.5-9


Above 9

2017

18.8%

16.3%

27.8%

37.2%

2018

10.0%

19.6%

22.9%

47.5%

2019

7.0%

5.1%

22.6%

65.3%

2020

8.7%

19.7%

12.2%

59.5%

Cinemas reduced non-prime time screenings to control operational costs

A total of 10,700 cinemas, about 94.8% of all cinemas nationwide, held 56.57 million screenings in 2020. Since reopening in July, cinemas increased the portion of screenings in the prime time slot of 18:00 – 21:00 to 26.6%, up from 24.3% in the same period last year. Accordingly, the box office revenue generated from prime time screenings since the July reopening accounted for 39.3% of the total revenue, up from 37.6% in the same period last year.


Percentage of screenings
in prime time


Percentage of box revenue
generated in prime time

2019

(July 20 – December 31)

24.3%

37.6%

2020

(July 20 – December 31)

26.6%

39.3%

Foreign films only accounted for 16.3% of China’s total box office revenue in 2020

83.7% of China’s total box office revenue in 2020 was generated by domestic movies, with only 16.3% generated by foreign movies, down from 35.9% in 2019. Foreign movies made a larger contribution to the early stage movie market recovery and reopening in July, but domestic films have since dominated.


Breakdown of box office revenue 2018-2020

Domestic movies

Foreign movies

2018

61.9%

38.0%

2019

64.1%

35.9%

2020

83.7%

16.3%

 


Total box office revenue of foreign movies (RMB)

July

131 million

August

664 million

September

853 million

October

89.92 million

November

497 million

December

621 million

More young moviegoers return to movie theaters 

The average age of movie attendees was 28.80, a slight decline compared with 29.18 in 2019. The population of viewers between the ages of 19 and 24 accounted for 31.9% of all moviegoers in China in 2020, up from 23.4% in 2019. Younger moviegoers showed a greater willingness to return to cinemas after reopening.


Average audience age 2017-2020


Average age

2017

28.25

2018

28.73

2019

29.18

2020

28.80

 


Breakdown of audience by age 2018-2020


Under 18


19-24


25-29


30-34


35-39


40 and over

2018

2.3%

24.8%

33.0%

24.0%

9.0%

6.9%

2019

1.7%

23.4%

30.5%

27.6%

9.6%

7.3%

2020

4.2%

31.9%

23.8%

18.0%

11.0%

11.1%

After cinemas reopened in July, women made up a slightly larger percentage of the moviegoing audience, 51.7%, compared to 51.5% from January 1 to January 23, the period prior to wide scale cinema closures. Compared to 2019, when women made up 52.3% of the moviegoing audience, the general decrease in 2020 indicates that the gender ratio of audiences has become more even.


Audience breakdown by gender


Women


Men

January 1 – January 23

51.5%

48.5%

July 20 – December 31

51.7%

48.3%

Maoyan saw a significant rise in the proportion of movie viewing by low and low to medium frequency moviegoers from July 20 to December 31, when compared to pre-COVID levels, indicating that the rebound in movie viewership after cinemas reopened was driven by larger numbers of low frequency viewers. The classification of moviegoing frequency is based on Maoyan’s own membership algorithm, which draws information from user activities such as ticket purchases, comments, movie ratings, interactions with other users on the Maoyan platform, etc.


Breakdown of users by moviegoing
frequency


Low frequency
users


Low to medium

frequency users


Medium
 

frequency users


Medium
 to high

frequency users


High frequency
users

January 1 –
January 23

16.6%

46.6%

21.3%

5.1%

0.5%

July 20 –
December 31

39.0%

47.3%

11.3%

2.2%

0.2%

Lower moviegoing frequency raised new challenges for the market

The average number of movies the Chinese audience watched in 2020 was 1.73, a drop from 2.88 in 2019. The decline was primarily a result of the prolonged cinema closures in 2020 and the reduction in the number of film titles.


The average number of movies watched by moviegoers 2018-2020


The average number of movies watched

2018

3.06

2019

2.88

2020

1.73

When asked about what methods they used for watching movies in the second half of 2020, about 32% of respondents reported watching movies both online and in theaters. About 42% of people still preferred watching movies in theaters.


Method of watching movies in H2 2020


Percentage of total respondents

Only watching movies online

8%

Watching movies online as the first choice

17%

Watching movies both online and in movie theaters

32%

Going to movie theaters as the first choice

26%

Only watching movies in theater

16%

2020 China movie market timeline:


January 23

Seven movie titles were removed from showing during the 2020 Chinese New Year holiday.

Ticketing platforms announced unconditional ticket refunds for those seven movie titles.

Movie theaters in China closed nationwide in response to the COVID-19 outbreak.


June 30

Total box office revenue in the first half of 2020 was RMB2.242 billion.


July 20

After a 178-day closure due to the COVID-19 pandemic, China’s movie theaters in low-risk areas started systematically reopening, by implementing various safety and control measures that put the safety of moviegoers first, including limits on screening attendance capacity.


August 14

China’s movie screening attendance capacity rate was increased from 30% to 50%.


August 21

221 days after the January cinema closures, one-day national box office surpassed RMB100 million for the first time since the closures.


August 25

About 14.19 million moviegoers attended screenings, generating a one-day box office revenue of RMB500 million.


August 31

The 43-day summer season grossed RMB3.616 billion.


September 20

“The Eight Hundred” became the world’s top-earning movie in 2020.


September 25

China’s movie screening attendance capacity rate was increased to 75%.

Over 10,000 movie theaters nationwide had re-opened.


October 1

On the first day of the National Day holiday, national box revenue grossed over RMB700 million in a single day.


October 3

China’s total box office revenue in 2020 to date reached RMB10 billion.


October 8

China’s box office revenue topped RMB3.967 billion during the Golden Week holiday from October 1 to 8.


October 18

China became the world’s largest movie market, overtaking North America in 2020.


November 17

China’s total box office revenue in 2020 to date exceeded RMB15 billion.


December 31

China’s total box office revenue in 2020 exceeded RMB20 billion.

China’s movie industry has achieved a robust recovery amid the COVID-19 pandemic. During the pandemic, Chinese state and local authorities unveiled a series of policies to support the movie industry’s recovery and growth. The rapid recovery of the box office reflects strong pent-up consumer demand for in-theater movie watching and instills confidence in movie industry stakeholders. Going forward, Maoyan will continue to support industry partners and help accelerate the recovery of China’s movie industry, returning it to sustainable growth.

About Maoyan Entertainment

Maoyan Entertainment (Hong Kong: 1896) is a leading platform providing innovative Internet-empowered entertainment services in China. Since its inception, Maoyan has grown from an online movie ticketing service provider to an innovative one-stop platform for entertainment services. Maoyan has a comprehensive strategy to become a leading platform servicing the entire entertainment industry in China. The upgraded strategy is supported by five key platform pillars: comprehensive entertainment ticketing platform, products platform, data platform, marketing platform, and financing platform.

For media inquiries, please contact:

Greta Bradford

ICR, Inc.
Email: [email protected] 
Phone: +86 178-8882-8731

Cision View original content:http://www.prnewswire.com/news-releases/maoyan-chinas-box-office-revenue-surpassed-rmb20-billion-in-2020-to-become-worlds-largest-movie-market-amid-pandemic-301200097.html

SOURCE Maoyan Entertainment

Posted on

Arizona Metals Corp to Acquire Key Patented Claims to Expand Kay Mine Project in Arizona and Arranges Private Placement Financing

Arizona Metals Corp to Acquire Key Patented Claims to Expand Kay Mine Project in Arizona and Arranges Private Placement Financing

TORONTO–(BUSINESS WIRE)–
Arizona Metals Corp. (TSXV:AMC, OTCQB:AZMCF) (the “Company” or “Arizona Metals”) is pleased to announce that it has entered into a purchase option and sale agreement (the “Purchase Agreement”) with an arm’s length Arizona based private company (the “Vendor”) to acquire 100% of six parcels of patented land totaling 107 acres (the “Property”), located 900 metres northeast of its Kay Mine VMS Project. The Property includes the surface, mineral, and water rights, among other rights and benefits.

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Figure 1. Kay Mine claims showing Phase 2 drill pads, with acquisition Property to the northeast (Graphic: Business Wire)

Figure 1. Kay Mine claims showing Phase 2 drill pads, with acquisition Property to the northeast (Graphic: Business Wire)

Marc Pais, CEO of Arizona Metals comments, “The acquisition of the Property is another significant de-risking step in moving the Kay Mine closer to a production decision. Including the 71 acres of patented land that host our Kay Mine deposit, this acquisition will increase our total holdings of patented land to 178 acres. The Property will provide a base for the upcoming Phase 2 drill program, as well as a significant area of private land (including a number of operating water wells) for any future development or production scenarios.”

Transaction Details

The Purchase Agreement to acquire the Property calls for total payments of US$2,250,000 to the Vendor as consideration for a 100% interest in the Property. Staged payments are to be made according to the following schedule, with the closing of the acquisition to occur no more than 30 days following completion of the final payment:

Upon entering into the Purchase Agreement: US$200,000

On or before March 31, 2021: US$500,000

On or before December 31, 2021: the balance of US$1,550,000

The terms of the Purchase Agreement include a due diligence period ending on March 31st, 2021. The first payment will be held in escrow during this period, and is fully refundable should the Corporation not be satisfied with the results of its due diligence investigations on the Property, including an environmental assessment.

The Consideration for the acquisition of the Property will be funded with a portion of the net proceeds of the financing detailed below.

Financing

The Company also intends to complete a non-brokered private placement (the “Offering”) of a minimum of 5,263,158 common shares of the Company (each, a “Share”) at a price of $0.95 per Share for gross proceeds of a minimum of CDN$5,000,000.

Net proceeds from the Offering will be used to fund the acquisition of the Property detailed above, further exploration the Kay Mine Project in Arizona, and general and administrative purposes.

The Offering is subject to regulatory approval, including approval by the TSX Venture Exchange, and all securities to be issued pursuant to the financing are subject to a hold period under applicable Canadian securities legislation that expires four months and one day after the closing date of the Offering.

Drill Mobilization for Kay Phase 2 Program

Arizona Metals has contracted Boart Longyear to mobilize the first drill to the Kay Mine project during the week of January 4th, 2021. Drilling under the Phase 2 program will consist of up to 11,000 m in 29 core drill holes. Drilling will start at the Kay Mine deposit to test for new VMS lenses in anticlinal hinge zones identified to the north and south of recent drilling, as well as the up-plunge and down-plunge extensions of known hinges (Figure 1).

Drilling will begin at the Kay Mine targets and progress to targets on strike (north and south) of the Kay Mine, and then to Central and Western targets as permitting is completed. Permitting is currently underway for these targets and is progressing well.

About Arizona Metals Corp

Arizona Metals Corp owns 100% of the Kay Mine Property in Yavapai County, which is located on a combination of patented and BLM claims totaling 1,300 acres that are not subject to any royalties. An historic estimate by Exxon Minerals in 1982 reported a “proven and probable reserve of 6.4 million short tons at a grade of 2.2% copper, 2.8 g/t gold, 3.03% zinc, and 55 g/t silver.” The historic estimate at the Kay Mine was reported by Exxon Minerals in 1982. (Fellows, M.L., 1982, Kay Mine massive sulphide deposit: Internal report prepared for Exxon Minerals Company)

*The Kay Mine historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimate can be verified and upgraded to be a current mineral resource. A Qualified Person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.

The Kay Mine is a steeply dipping VMS deposit that has been defined from a depth of 60 m to at least 900 m. It is open for expansion on strike and at depth.

The Company also owns 100% of the Sugarloaf Peak Property, in La Paz County, which is located on 4,400 acres of BLM claims. Sugarloaf is a heap-leach, open-pit target and has a historic estimate of “100 million tons containing 1.5 million ounces gold” at a grade of 0.5 g/t (Dausinger, N.E., 1983, Phase 1 Drill Program and Evaluation of Gold-Silver Potential, Sugarloaf Peak Project, Quartzsite, Arizona: Report for Westworld Inc.)

The historic estimate at the Sugarloaf Peak Property was reported by Westworld Resources in 1983. The historic estimate has not been verified as a current mineral resource. None of the key assumptions, parameters, and methods used to prepare the historic estimate were reported, and no resource categories were used. Significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimate can be verified and upgraded to a current mineral resource. A Qualified Person has not done sufficient work to classify it as a current mineral resource, and Arizona Metals is not treating the historic estimate as a current mineral resource.

The Qualified Person who reviewed and approved the technical disclosure in this release is David Smith, CPG.

Quality Assurance/Quality Control

All of Arizona Metals’ drill sample assay results have been independently monitored through a quality assurance/quality control (“QA/QC”) protocol which includes the insertion of blind standard reference materials and blanks at regular intervals. Logging and sampling were completed at Arizona Metals’ core handling facilities located in Anthem and Black Canyon City, Arizona. Drill core was diamond sawn on site and half drill-core samples were securely transported to ALS Laboratories’ (“ALS”) sample preparation facility in Tucson, Arizona. Sample pulps were sent to ALS’s labs in Vancouver, Canada, for analysis.

Gold content was determined by fire assay of a 30-gram charge with ICP finish (ALS method

Au-AA23). Silver and 32 other elements were analyzed by ICP methods with four-acid digestion (ALS method ME-ICP61a). Over-limit samples for Au, Ag, Cu, and Zn were determined by ore-grade analyses Au-GRA21, Ag-OG62, Cu-OG62, and Zn-OG62, respectively.

ALS Laboratories is independent of Arizona Metals Corp. and its Vancouver facility is ISO 17025 accredited. ALS also performed its own internal QA/QC procedures to assure the accuracy and integrity of results. Parameters for ALS’ internal and Arizona Metals’ external blind quality control samples were acceptable for the samples analyzed. Arizona Metals is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.

This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation, All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements regarding the acquisition of the Property, including completion of due diligence and the satisfaction of the Company’s payment obligations under the Purchase Agreement, and the completion of the Offering. In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: availability of financing; delay or failure to receive required permits or regulatory approvals; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward- looking statements or otherwise.

NEITHER THE TSX VENTURE EXCHANGE (NOR ITS REGULATORY SERVICE PROVIDER) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Not for distribution to US newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States

Marc Pais

President and CEO Arizona Metals Corp.

(416) 565-7689

[email protected]

www.arizonametalscorp.com

https://twitter.com/ArizonaCorp

KEYWORDS: Arizona United States North America Canada

INDUSTRY KEYWORDS: Mining/Minerals Natural Resources

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Figure 1. Kay Mine claims showing Phase 2 drill pads, with acquisition Property to the northeast (Graphic: Business Wire)