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Resgreen Group Delivers First Batch of Wanda SD Disinfecting Robots

PR Newswire

CLINTON TOWNSHIP, Mich., Dec. 30, 2020 /PRNewswire/ — Resgreen Group (RGGI), a leading mobile robot company, today announced it delivered its first group of Wanda SD disinfecting robots to the Travelodge by Wyndham in Elkhart, Indiana. The robots use Ultraviolet C (UVC) lights placed on a 42-inch tower and underneath the vehicles to disinfect hotel rooms, meeting rooms and the lobby. 

“Wanda SD gives guests the comfort of knowing that their rooms have been completely sanitized and are safe from dangerous bacteria and viruses,” stated Parsh Patel, CEO of RGGI. “The UVC lights destroy 99.9 percent of harmful pathogens in a 200 square-foot space in around 15 minutes.”

Wanda SD uses a lithium-ion phosphate battery that provides three times the power of conventional batteries with half the weight. A new battery voltage indicator was recently added to alert customers when the vehicle needs to be charged. 

Because exposure to UVC light is dangerous to eyes and skin, Wanda SD can be controlled from another room with a smart device. It is also equipped with perimeter monitoring and ultrasonic sensors that detect when someone enters an area and automatically turns off the lights.

The affordable Wanda SD costs $5,000 and can be purchased at resgreenint.com with a $1,000 deposit. The vehicle can sanitize up to 200 square feet in around 15 minutes. 

To watch video of Wanda disinfecting mobile robot in action, please visit https://youtu.be/KFqjpxI9Rgc.

About Resgreen Group International, Inc. (RGGI)
RGGI is a leading developer of Artificial Intelligence Robotics (AIRs), Autonomous Mobile Robots (AMRs), and Automatic Guided Vehicles (AGVs). RGGI’s highly skilled engineers have years of experience in the material handling and robotics industries, which has led to significant intellectual property for the company. 

RGGI also provides consulting services including backend operational oversight, material handling assessment, work-flow analysis, and steady state yield management using artificial intelligence, technology and management systems. For more information visit http://resgreenint.com.

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SOURCE Resgreen Group International

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Lipocine Announces Open Label Extension to Ongoing LPCN 1144 LiFT Study

PR Newswire

SALT LAKE CITY, Dec. 30, 2020 /PRNewswire/ — Lipocine Inc. (NASDAQ: LPCN), a clinical-stage biopharmaceutical company focused on metabolic and endocrine disorders, today announced that it is enrolling patients into an open label extension to the ongoing LPCN 1144 Phase 2 LiFT study based on investigator and patient interest in continuing treatment. The LiFT (“Liver Fat intervention with oral Testosterone”) clinical study is a paired-biopsy study investigating LPCN 1144 in confirmed non-cirrhotic non-alcoholic steatohepatitis (“NASH”) subjects. 

In the initial, double-blind part of the LiFT study, patients were randomized to receive one of two treatments of LPCN 1144 or placebo over 36 weeks. Patients who complete this portion will now have the option to enter the 36-week open label extension study, which is designed to evaluate the long-term safety and tolerability of LPCN 1144 treatment. There is no placebo arm in the open label extension study, and all patients will be treated with LPCN 1144.

“This extension to our ongoing LiFT clinical study will allow us to collect additional data on LPCN 1144 for up to a total of 72 weeks of therapy,” said Dr. Mahesh Patel, Chairman, President and Chief Executive Officer of Lipocine. “Patients who may have received placebo during the initial, randomized part of the trial now have the opportunity to receive active drug.”

For more information on LiFT, refer to NCT04134091. For more information on this open label extension study, refer to NCT04685993.

About Lipocine

Lipocine Inc. is a clinical-stage biopharmaceutical company focused on metabolic and endocrine disorders using its proprietary drug delivery technologies. Lipocine’s clinical development pipeline includes: TLANDO, LPCN 1144, TLANDO XR, LPCN 1148 and LPCN 1107. TLANDO, a novel oral prodrug of testosterone containing testosterone undecanoate, has received tentative approval from the FDA for conditions associated with a deficiency of endogenous testosterone, also known as hypogonadism, in adult males. LPCN 1144, an oral product of bioidentical testosterone, recently completed a proof-of-concept clinical study demonstrating the potential utility in the treatment of non-cirrhotic NASH. LPCN 1144 is currently being studied in a Phase 2 clinical study.  TLANDO XR, a novel oral prodrug of testosterone, originated and is being developed by Lipocine as a next-generation oral testosterone product with potential for once-daily dosing. In a phase 2 clinical evaluation when administered as once daily or twice daily TLANDO XR met the typical primary and secondary end points. LPCN 1148 is an oral prodrug of bioidentical testosterone targeted for the treatment of cirrhosis. LPCN 1107 is potentially the first oral hydroxyprogesterone caproate product candidate indicated for the prevention of recurrent preterm birth and has been granted orphan drug designation by the FDA. For more information. For more information, please visit www.lipocine.com. 

Forward-Looking Statements

This release contains “forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include statements that are not historical facts regarding Lipocine’s product candidates and related clinical trials, the timing of completion of clinical trials, including the LIFT clinical study, the potential uses and benefits of our product candidates, and our product development efforts. Investors are cautioned that all such forward-looking statements involve risks and uncertainties, including, without limitation, the risks that the FDA will not approve any of our products, risks related to our products, expected product benefits not being realized, clinical and regulatory expectations and plans not being realized, new regulatory developments and requirements, risks related to the FDA approval process including the receipt of regulatory approvals, the results and timing of clinical trials, patient acceptance of Lipocine’s products, the manufacturing and commercialization of Lipocine’s products, and other risks detailed in Lipocine’s filings with the SEC, including, without limitation, its Form 10-K and other reports on Forms 8-K and 10-Q, all of which can be obtained on the SEC website at www.sec.gov. Lipocine assumes no obligation to update or revise publicly any forward-looking statements contained in this release, except as required by law.

 

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SOURCE Lipocine Inc.

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CONSOL Energy Inc. and CONSOL Coal Resources LP Announce Stockholder and Limited Partner Approval and Completion of Merger

PR Newswire

CANONSBURG, Pa., Dec. 30, 2020 /PRNewswire/ — CONSOL Energy Inc. (NYSE: CEIX) (“CEIX”) and CONSOL Coal Resources LP (NYSE: CCR) (“CCR”) announced that, at a special meeting held on December 29, 2020, the shareholders of CEIX approved the issuance of shares of CEIX’s common stock (the “CEIX Stock Issuance”) in connection with the previously announced merger of a wholly owned subsidiary of CEIX with and into CCR (the “Merger”) pursuant to which CCR would survive as an indirect, wholly owned subsidiary of CEIX. More than 99% of the total votes cast in person or by proxy at CEIX’s special meeting were voted in favor of approving the CEIX stock issuance.

In addition, CCR’s limited partners approved the Merger and the adoption of the merger agreement relating to the Merger. The holders of more than 83% of CCR’s outstanding limited partner interests approved the Merger and the adoption of the merger agreement related thereto via written consent.

Following the approval of the CEIX Stock Issuance by the CEIX stockholders and the approval of the Merger and the adoption of the merger agreement related thereto by the CCR limited partners, CEIX completed the acquisition of all of the outstanding common units of CCR (“CCR Common Units”) that it did not already own. As a result of the transaction, CCR Common Units have been suspended from trading on the New York Stock Exchange.

“The completion of this merger allows the equity holders of both companies to benefit from a simplified corporate structure, improved consolidated credit metrics, elimination of dual public company costs and improved financial flexibility,” said Jimmy Brock, President and CEO of CONSOL Energy Inc.

About CONSOL Energy Inc.

CONSOL Energy Inc. (NYSE: CEIX) is a Canonsburg, Pennsylvania-based producer and exporter of high-Btu bituminous thermal and crossover metallurgical coal. It owns and operates some of the most productive longwall mining operations in the Northern Appalachian Basin. Its flagship operation is the Pennsylvania Mining Complex, which has the capacity to produce approximately 28.5 million tons of coal per year and is comprised of three large-scale underground mines: Bailey, Enlow Fork, and Harvey. CEIX also owns and operates the CONSOL Marine Terminal, which is located in the port of Baltimore and has a throughput capacity of approximately 15 million tons per year. In addition to the ~669 million reserve tons associated with the Pennsylvania Mining Complex and the ~21 million reserve tons associated with the Itmann project, CEIX also controls approximately 1.5 billion tons of greenfield thermal and metallurgical coal reserves located in the major coal-producing basins of the eastern United States. Additional information regarding CEIX may be found at www.consolenergy.com

About CONSOL Coal Resources LP

CONSOL Coal Resources LP (NYSE: CCR) is a master limited partnership formed in 2015 to manage and further develop all of CEIX’s active coal operations in Pennsylvania. Its assets include a 25% undivided interest in, and operational control over, the Pennsylvania Mining Complex, which consists of three underground mines—Bailey, Enlow Fork and Harvey—and related infrastructure. For its ownership interest, CCR has an effective annual production capacity of 7.1 million tons of high-Btu North Appalachian thermal coal. More information is available on CCR’s website www.ccrlp.com.

Cautionary Statements

All statements in this press release (and oral statements made regarding the subjects of this communication), including those that express a belief, expectation or intention, may be considered forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) that involve risks and uncertainties that could cause actual results to differ materially from projected results. Without limiting the generality of the foregoing, forward-looking statements contained in this communication include statements relying on a number of assumptions concerning future events and are subject to a number of uncertainties and factors, many of which are outside the control of CEIX and CCR, which could cause actual results to differ materially from such statements. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include, but are not limited to, statements regarding the expected benefits of the transaction to CEIX and CCR and their stockholders and unitholders, respectively; the expected future growth, dividends and distributions of the combined company; and plans and objectives of management for future operations. When we use the words “believe,” “intend,” “expect,” “may,” “should,” “anticipate,” “could,” “estimate,” “plan,” “predict,” “project,” or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. While CEIX and CCR believe that the assumptions concerning future events are reasonable, they caution that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of their businesses. Among the factors that could cause results to differ materially from those indicated by such forward-looking statements are: the failure to realize the anticipated costs savings, synergies and other benefits of the transaction; the possible diversion of management time on transaction-related issues; local, regional and national economic conditions and the impact they may have on CEIX, CCR and their customers; the impact of outbreaks of communicable diseases such as the novel highly transmissible and pathogenic coronavirus (COVID-19) on business activity, CEIX’s and CCR’s operations and national and global economic conditions, generally; conditions in the coal industry, including a sustained decrease in the level of supply or demand for coal or a sustained decrease in the price of coal; the financial condition of CEIX’s or CCR’s customers; any non-performance by customers of their contractual obligations; changes in customer, employee or supplier relationships resulting from the transaction; changes in safety, health, environmental and other regulations; the results of any reviews, investigations or other proceedings by government authorities; and the performance of CEIX and CCR.

The forward-looking statements in this press release speak only as of the date of this report; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks, contingencies and uncertainties relate to, among other matters, the risks and uncertainties set forth in the “Risk Factors” section of CEIX’s and CCR’s respective Annual Reports on Form 10-K for the year ended December 31, 2019 and Quarterly Reports on Form 10-Q for the three months ended March 31, 2020, June 30, 2020 and September 30, 2020, respectively, each filed with the Securities and Exchange Commission, and any subsequent reports filed with the Securities and Exchange Commission.

No Offer or Solicitation

This release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the transaction or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Contacts:

Investor:          Nathan Tucker at (724) 416-8336

Media:             Zach Smith at (724) 416-8291

 

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SOURCE CONSOL Energy Inc.; CONSOL Coal Resources LP

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Acadia Healthcare Announces Definitive Agreement to Sell U.K. Operations

Acadia Healthcare Announces Definitive Agreement to Sell U.K. Operations

FRANKLIN, Tenn.–(BUSINESS WIRE)–
Acadia Healthcare Company, Inc. (NASDAQ: ACHC) (“Acadia” or the “Company”) today announced that it has entered into a definitive agreement to sell its U.K. operations to Waterland Private Equity (“Waterland”) for a purchase price of approximately £1,078 million. The Company expects the sale to result in proceeds of approximately $1,350 million, net of transaction costs and the settlement of existing foreign currency hedging liabilities and based on the current GBP/USD exchange rate. The proposed transaction is expected to close in January 2021. The transaction includes the sale of the entirety of Acadia’s U.K. business operations, which are operated under the name of The Priory Group (the “Priory Business”).

Commenting on the announcement, Debbie Osteen, Chief Executive Officer of Acadia, stated, “We are pleased to announce that we have entered into a definitive agreement to sell the Priory Business to Waterland. Since announcing our decision to explore strategic alternatives with respect to the Priory Business, our primary objective has always been to complete a transaction that would maximize value for our stockholders. Following a comprehensive process, we believe we have achieved this objective. We intend to use the proceeds to pay down debt and for other corporate purposes. We believe we are well positioned to meet the strong demand for mental health and substance use treatment across the U.S. We will continue to focus on delivering the highest level of patient care and advancing our position as a leading behavioral healthcare facilities operator in the U.S.”

About Acadia

Acadia is a leading provider of behavioral healthcare services. As of September 30, 2020, Acadia operated a network of 582 behavioral healthcare facilities with approximately 18,300 beds in 40 states, the United Kingdom and Puerto Rico. Acadia provides behavioral healthcare services to its patients in a variety of settings, including inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers and outpatient clinics.

About Waterland

Waterland is an independent private equity investment group that supports entrepreneurs in realizing their growth ambitions. With substantial financial resources and committed industry expertise, Waterland enables its portfolio companies to achieve accelerated growth both organically and through acquisitions. Waterland has offices in the Netherlands (Bussum), Belgium (Antwerp), Germany (Munich and Hamburg), Poland (Warsaw), the UK (Manchester), Denmark (Copenhagen), Ireland (Dublin), Switzerland (Zurich) and France (Paris), and currently manages EUR 8 billion of investor commitments. Since its founding in 1999, Waterland has consistently achieved top-tier investment performance.

Forward-Looking Statements

Statement in this press release that relate to the Company’s future plans, objectives, expectations, performance, events and the like may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are statements that are not historical facts and can be identified by the use of forward‑looking terminology such as “believe,” “expect,” “may,” “will,” “likely,” “could,” “should,” “project,” “could,” “plan,” “goal,” “potential,” “pro forma,” “seek,” “estimate,” “intend” or “anticipate” or the negative thereof, and may include statements regarding expected timing, purchase price, net proceeds, costs, effects, plans, objectives, expectations or consequences of entry into the Share Purchase Agreement (“SPA”), the completion of the sale under the SPA and the use of proceeds therefrom and statements about the expected benefits of the proposed sale and the impact of the proposed sale on the Company’s business, financial results, opportunities and future plans. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including uncertainties regarding the entry into, and the completion of the sale pursuant to, the SPA, the purchase price, the Company’s ability to achieve intended benefits of the sale, the expected costs of the transaction and other risks and uncertainties detailed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including under “Item 1A. Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, “Item 1A. Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and the Company’s subsequent filings with the SEC. All forward-looking statements speak only as of the date hereof and are based on current information, expectations and estimates and involve risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results and events to vary materially from what is expressed in or indicated by the forward-looking statements. The Company assumes no obligation to update any forward-looking statements to reflect events that occur or circumstances that exist after the date on which they were made.

Gretchen Hommrich

Director, Investor Relations

(615) 861-6000

KEYWORDS: Europe United States United Kingdom North America Tennessee

INDUSTRY KEYWORDS: Hospitals General Health Health Mental Health

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Elys Game Technology Becomes First Dual Listing Technology Company From NASDAQ to NEO Exchange

Elys Game Technology Becomes First Dual Listing Technology Company From NASDAQ to NEO Exchange

TORONTO & NEW YORK–(BUSINESS WIRE)–
Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq:ELYS) (NEO:ELYS), an interactive gaming and sports betting technology company, announced today that it has commenced trading on the NEO Exchange under the symbol “ELYS.”

Already listed on the NASDAQ Capital Market since December 27, 2019, and also trading under the symbol “ELYS,” today’s launch marks the first dual-listing of a publicly traded technology company from the NASDAQ Capital Market to the NEO Exchange.

With a market capitalization of approximately $109.6 million, Elys reported third-quarter financial results, ended September 30, 2020, showing a 43.6% year-over-year revenue jump on the back of steady growth in its web-based gaming turnover. The company also surpassed its goal of achieving 100,000 online gaming accounts before the close of 2020, indicating strong performance in their online and mobile channels.

“Our listing on the NEO Exchange is an important milestone on many levels for Elys, particularly as we build on our initial go-to-market strategy in the rapidly growing U.S. market and develop our foothold in the Canadian market,” said Elys’ Chairman and CEO, Michele Ciavarella. “Recently proposed legislation in Canada would legalize single-event sports wagering, and is expected to increase the CDN$80 billion wagered on sports each year in Canada. We believe we are extremely well positioned to capitalize on this growing market and believe this listing will provide us greater exposure among Canadian investors as we work to execute on our strategy throughout North America.”

The NEO Exchange is home to over 100 corporate and ETF listings, and consistently facilitates more than 13 percent of all Canadian capital markets trading volume. Click here for a complete view of all NEO-listed securities.

Investors in Canada can trade shares of NEO:ELYS through their usual investment channels, including discount brokerage platforms and full-service dealers.

About Elys Game Technology, Corp.

Elys Game Technology, Corp. is a B2B global gaming technology company operating in multiple countries worldwide, with B2C online and land-based gaming operations in Italy. In Italy, Elys offers clients a full suite of leisure gaming products and services, such as sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games, and slots. The Company’s innovative wagering solution services online operators, casinos, retail betting establishments, and franchise distribution networks.

The Company has completed the product regulatory requirements to commence B2B operations in the United States. Additional information is available on our corporate website at www.elysgame.com.

Connect with ELYS: Website |LinkedIn | Twitter

About NEO Exchange

The NEO Exchange is a progressive stock exchange that brings together investors and capital raisers within a fair, efficient, and service-oriented environment. Fully operational since June 2015, the NEO Exchange puts investors first and provides access to trading all Canadian-listed securities on a level playing field. The NEO Exchange lists senior companies and investment products seeking a stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements and include statements regarding the effect of recently proposed legislation in Canada to legalize single-event sports wagering, the Company being extremely well positioned to capitalize on this growing market and the NEO Exchange listing providing the Company with greater exposure among Canadian investors. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of the recently proposed legislation in Canada to legalize single-event sports wagering to become law, the Company’s ability to execute its strategy to capitalize on this growing market, the NEO Exchange listing providing the Company with greater exposure among Canadian investors, the duration and scope of the COVID-19 outbreak worldwide, including the impact to the state and local economies, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, and its subsequent filings with the U.S. Securities and Exchange Commission, including subsequent periodic reports on Form 10-Q and current reports on Form 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.

The NEO Exchange has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of contained herein.

Media and Elys Contact:

David Waldman

Crescendo Communications, LLC

Tel: (212) 671-1020

Email: [email protected]

KEYWORDS: United States North America Canada New York

INDUSTRY KEYWORDS: Electronic Games Technology Casino/Gaming Entertainment Online Software Networks Hardware Data Management

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Western Asset Inflation-linked Income Fund Announces Final Results of Issuer Tender Offer for Common Shares

Western Asset Inflation-linked Income Fund Announces Final Results of Issuer Tender Offer for Common Shares

 

NEW YORK–(BUSINESS WIRE)–
Western Asset Inflation-Linked Income Fund (NYSE: WIA) (the “Fund”) announced today the final results for its issuer tender offer for up to 20% of the outstanding common shares (“Shares”) of the Fund at a price equal to 99% of the Fund’s net asset value per Share as determined as of the close of the regular trading session of the New York Stock Exchange on December 29, 2020. The Fund’s offer expired on Monday, December 28, 2020 at 5:00 p.m., New York City time.

A total of 20,871,974 Shares were duly tendered and not withdrawn. Because the number of Shares tendered exceeds 5,830,564 Shares, the tender offer is oversubscribed. Therefore, in accordance with the terms and conditions specified in the tender offer, the Fund will purchase Shares from all tendering shareholders on a pro rata basis, disregarding fractions. Accordingly, on a pro rata basis, approximately 27.93% of Shares for each shareholder who properly tendered shares have been accepted for payment. The purchase price of properly tendered Shares is $13.99 per Share, equal to 99% of the per Share net asset value of $ 14.13 as of the close of the regular trading session of the New York Stock Exchange on December 29, 2020. Payment for such Shares will be made on or about December 31, 2020. Shares that were not tendered will remain outstanding.

Any questions about the tender offer can be directed to Georgeson LLC, the information agent for the tender offer, toll free at 1-866-628-6021, Monday through Friday, 9 a.m. to 5 p.m., New York City Time.

Western Asset Inflation-Linked Income Fund, a diversified, closed-end management investment company, is administered by Legg Mason Partners Fund Advisor, LLC (“LMPFA”), is advised by Western Asset Management Company, LLC (“Western Asset”) and is subadvised by Western Asset Management Company Limited (“Western London”), Western Asset Management Company Ltd (“Western Japan”) and Western Asset Management Company Pte. Ltd. (“Western Singapore”). Each of LMPFA, Western Asset, Western London, Western Japan and Western Singapore is an indirect, wholly-owned subsidiary of Franklin Resources, Inc. (“Franklin Resources”)

Hard copies of the Fund’s complete audited financial statements are available free of charge upon request. Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling Shares of the Fund.

THIS PRESS RELEASE IS NOT A PROSPECTUS, CIRCULAR OR REPRESENTATION INTENDED FOR USE IN THE PURCHASE OR SALE OF FUND SHARES. THIS PRESS RELEASE MAY CONTAIN STATEMENTS REGARDING PLANS AND EXPECTATIONS FOR THE FUTURE THAT CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT ARE FORWARD-LOOKING AND CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “ANTICIPATE,” “ESTIMATE,” “BELIEVE,” “CONTINUE” OR OTHER SIMILAR WORDS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON THE FUND’S CURRENT PLANS AND EXPECTATIONS, AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS. ADDITIONAL INFORMATION CONCERNING SUCH RISKS AND UNCERTAINTIES ARE CONTAINED IN THE FUND’S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.

For more information, please call 1-888-777-0102 or consult the Fund’s web site at www.lmcef.com.

Category: Fund Announcement

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

Media: Fund Investor Services-1-888-777-0102

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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General Counsel Ross D. Cooper to Become Special Advisor; Will Expand Role at American University’s Kogod School of Business

General Counsel Ross D. Cooper to Become Special Advisor; Will Expand Role at American University’s Kogod School of Business

HERNDON, Va.–(BUSINESS WIRE)–Beacon (Nasdaq: BECN) (the “Company”) announced today that Executive Vice President and General Counsel Ross D. Cooper will transition next year from his full-time role as the Company’s General Counsel to a Special Advisor role focused on business strategy and growth initiatives. Mr. Cooper will help lead the national search for his successor and assist in a successful transition. He also will expand his role on the faculty of the Kogod School of Business at American University, where he has been an adjunct professor of Business Law since 2018.

Mr. Cooper joined Beacon in 2006 as the Company’s first General Counsel after spending more than a decade representing Beacon and other roofing distribution companies as outside litigation counsel. He has been responsible for all of Beacon’s legal affairs including acquisitions, contracts, SEC reporting, labor and employment, corporate governance, leasing, and litigation management. During Mr. Cooper’s tenure, Beacon has grown from 150 branches and approximately $1.5 billion in sales into a Fortune 500 national leader in building products distribution, with over 500 locations throughout the U.S. and Canada and $7 billion in sales. Mr. Cooper has helped lead Beacon through 35 acquisitions, including the transformative multibillion-dollar acquisitions of Roofing Supply Group and Allied Building Products. He also led the legal deal team in Beacon’s $850 million divesture of its Interior Products business that was announced last week.

“Ross’s deep knowledge of the building materials industry, legal acumen, and his negotiating and problem solving skills have been instrumental to Beacon’s growth and success during his tenure as General Counsel,” said Beacon’s President and Chief Executive Officer Julian Francis. “His ability to develop and efficiently coordinate Beacon’s acquisition efforts over the years have been particularly impressive, and we are thrilled that Ross will remain with Beacon with a focus on business strategy and current and future growth opportunities. He will continue to bring tremendous insight and experience to his students at Kogod while remaining a key contributor to Beacon’s future plans.”

“I feel extremely privileged to have served as Beacon’s first General Counsel and for the opportunity to provide advice and counsel to Beacon’s employees, leadership team and Board of Directors,” said Mr. Cooper. “The last 15 years have flown by and have been personally and professionally rewarding. I am particularly proud of the great legal team we have built to help advise Beacon in the future and support our next General Counsel. I am very excited to expand my role at American University while continuing to contribute to Beacon’s growth plans. I am confident that Beacon will continue to drive shareholder value by executing on our strategic initiatives.”

Forward-Looking Statements

This release contains information about management’s view of Beacon’s future expectations, plans, and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the fact that they do not relate strictly to historic or current facts and often use words such as “anticipate”, “estimate”, “expect”, “believe”, “will likely result”, “outlook”, “project” and other words and expressions of similar meaning. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the “Risk Factors” section of Beacon’s latest Form 10-K. In addition, numerous factors could cause actual results with respect to Beacon’s recently announced proposed divestiture of its Interior Products business to differ materially from those in the forward-looking statements, including without limitation, the possibility that the expected cost savings, debt leverage reduction and other financial and operational impacts from the proposed transaction will not be realized, or will not be realized within the expected time period; the ability to obtain governmental approvals of the proposed transaction on the proposed terms and schedule contemplated by the parties; the risk that costs of restructuring transactions and other costs incurred in connection with the proposed transaction will exceed Beacon’s estimates or otherwise adversely affect Beacon’s business or operations; the impact of the proposed transaction on Beacon’s businesses and the risk that consummating the proposed transaction may be more difficult, time-consuming or costly than expected, including the impact on Beacon’s resources, systems, procedures and controls, diversion of management’s attention and the impact on relationships with customers, suppliers, employees and other business counterparties; and the possibility that the proposed transaction does not close, including, but not limited to, failure to satisfy the closing conditions. The forward-looking statements included in this press release represent Beacon’s views as of the date of this press release and these views could change. However, while Beacon may elect to update these forward-looking statements at some point, Beacon specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing Beacon’s views as of any date subsequent to the date of this press release.

About Beacon

Founded in 1928, Beacon is a Fortune 500, publicly-traded distributor of roofing materials and complementary building products in North America, operating over 500 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of over 100,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online. Beacon’s stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit www.becn.com

INVESTOR CONTACT

Brent Rakers

Director, Investor Relations

[email protected]

901-232-2737

MEDIA CONTACT

Jennifer Lewis

VP, Communications and Corporate Social Responsibility

[email protected]

571-752-1048

KEYWORDS: Virginia United States North America

INDUSTRY KEYWORDS: Building Systems Other Construction & Property Residential Building & Real Estate Commercial Building & Real Estate Construction & Property

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Service Properties Trust Completes the Sale of Ten Hotels for $41.0 Million

Service Properties Trust Completes the Sale of Ten Hotels for $41.0 Million

Enters Short-Term Lease for Five Additional Hotels Until Expected Sale in Mid-2021 for $22.3 Million

NEWTON, Mass.–(BUSINESS WIRE)–Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has completed the previously announced sale of ten Hawthorn Suites branded hotels with 1,212 rooms and a net carrying value of $30.4 million for an aggregate sales price of $41.0 million, excluding closing costs. The proceeds from the sale will be used for the repayment of debt.

SVC also entered a short-term lease and revised purchase agreement for its five remaining Hawthorn Suites branded hotels with the same buyer. SVC has agreed to sell these five hotels with 430 rooms and a net carrying value of $10.7 million for $22.3 million and expects to complete the sale of these hotels by the end of the second quarter of 2021.

John Murray, President and Chief Executive Officer of SVC, made the following statement regarding today’s announcement:

“We are pleased to have reached this restructured agreement for the sale and lease of these 15 hotels. In addition to closing on the sale of ten hotels, we will receive lease income for the five remaining hotels at an 8% return until these hotels are sold, which we expect to occur in the first half of 2021.”

About Service Properties Trust

Service Properties Trust is a real estate investment trust which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada with 149 distinct brands across 23 industries. SVC is managed by the majority owned operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.

Warning Concerning Forward-Looking Statements

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever SVC uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, SVC is making forward-looking statements. These forward-looking statements are based upon SVC’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by SVC’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond SVC’s control. For example:

  • This press release states that five additional hotels are expected to be sold by the end of the second quarter of 2021. However, the sales of these hotels are subject to conditions, may not be completed, may be delayed or their terms may change.

The information contained in SVC’s filings with the Securities and Exchange Commission, or SEC, including under the caption “Risk Factors” in SVC’s periodic reports, or incorporated therein, identifies other important factors that could cause differences from SVC’s forward-looking statements. SVC’s filings with the SEC are available on the SEC’s website at www.sec.gov.

You should not place undue reliance upon forward-looking statements.

Except as required by law, SVC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.

No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Kristin Brown, Director, Investor Relations

(617) 796-8232

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: REIT Lodging Commercial Building & Real Estate Construction & Property Travel

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Spectra7 Announces Private Placement

Spectra7 Announces Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

TORONTO–(BUSINESS WIRE)–
(TSXV:SEV) Spectra7 Microsystems Inc. (“Spectra7” or the “Company”), a leading provider of high-performance analog semiconductor products for broadband connectivity markets, announces that it intends to sell, on a non-brokered private placement basis, in one or more tranches, up to 116,666,667 units (the “Units”) at a price of $0.03 per Unit for gross proceeds of up to $3,500,000(the “Private Placement”). Each Unit will consist of one common share in the capital of the Company (each, a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”) with each Warrant being exercisable into one Common Share at an exercise price of $0.05 for a period of five years from the date of issuance, subject to adjustment upon certain customary events. The expiry date of the Warrants can be accelerated by the Company at any time following the date that is 4 months and one day after closing of the Private Placement and prior to the expiry date of the Warrants if the closing price of the Common Shares on the TSX Venture Exchange is greater than $0.08 for any 10 non-consecutive trading days.

Spectra7 also announces that it intends to issue up to 11,666,666 Units to settle up to $350,000 owing to certain arm’s length parties (the “Debt Settlement”).

All dollar amounts in this news release are denominated in Canadian dollars unless otherwise indicated.

The net proceeds from the Private Placement and the Debt Settlement are intended to be used for working capital to support revenue growth, the payment of interest on its outstanding convertible debentures and for general corporate purposes.

Pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”), the Private Placement constitutes a “related party transaction” as insiders of the Company are expected to subscribe for Units. The Company is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101.

The closing of the Private Placement and the Debt Settlement are subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933Act”), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available.

ABOUT SPECTRA7 MICROSYSTEMS INC.

Spectra7 Microsystems Inc. is a high performance analog semiconductor company delivering unprecedented bandwidth, speed and resolution to enable disruptive industrial design for leading electronics manufacturers in virtual reality, augmented reality, mixed reality, data centers and other connectivity markets. Spectra7 is based in San Jose, California with a design center in Cork, Ireland and technical support location in Dongguan, China. For more information, please visit www.spectra7.com.

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

CAUTIONARY NOTES

Certain statements contained in this press release constitute “forward-looking statements”. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Private Placement and the Debt Settlement and the intended use of proceeds thereof, and the Company’s strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company’s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company’s Annual Information Form for the year ended December 31, 2019. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.

Spectra7 Microsystems Inc.

James Bergeron

Investor Relations

289-512-0541

[email protected]

Spectra7 Microsystems Inc.

David Mier

Chief Financial Officer

925-858-7011

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Technology Hardware Semiconductor

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CEL-SCI Reports Fiscal 2020 Financial Results and Clinical & Corporate Developments

CEL-SCI Reports Fiscal 2020 Financial Results and Clinical & Corporate Developments

VIENNA, Va.–(BUSINESS WIRE)–
CEL-SCI Corporation (NYSE American: CVM) reported financial results for the fiscal year ended September 30, 2020, as well as key clinical and corporate developments.

Clinical and Corporate Developments included:

  • During fiscal 2020, the Independent Data Monitoring Committee (IDMC) for the Company’s pivotal Phase 3 head and neck cancer study of Multikine* (Leukocyte Interleukin, Injection) conducted an official review of the study data in October 2019 and April 2020, and recommended in each case that the trial continue until the appropriate number of events has occurred. CEL-SCI announced in early May 2020 that the study reached the targeted threshold of 298 events (deaths) required to conduct the data evaluation and the process of data lock commenced. In December 2020, the study entered its final stage of statistical analysis of all study data.
  • In preparation for potential marketing clearance, CEL-SCI began expanding and upgrading its dedicated cGMP facility in which it manufactures Multikine. The construction will double the facility’s capacity, accommodating two shifts for increased production of Multikine.
  • CEL-SCI initiated the development of an immunotherapy with the potential to treat COVID-19 using the Company’s patented LEAPS peptide technology and signed a collaboration agreement with the University of Georgia (UGA) Center for Vaccines and Immunology to develop its LEAPS COV-19 immunotherapy during fiscal 2020. Following the end of fiscal 2020, in December 2020, CEL-SCI announced that its LEAPS COV-19 peptides, delivered as a therapeutic treatment following SARS-CoV-2 virus challenge, achieved a 40% survival rate in human ACE2 transgenic mouse models as compared to 0% survival in the two control groups in studies conducted at UGA Center for Vaccines and Immunology.
  • The LEAPS platform technology was issued a patent from the European Patent Office titled “Method of Preparation and Composition of Peptide Constructs for Treatment of Rheumatoid Arthritis”. In addition to the treatment of COVID-19, the LEAPS platform technology is being developed as a potential therapeutic vaccine for rheumatoid arthritis supported by grants from the U.S. National Institutes of Health (NIH).
  • CEL-SCI raised net proceeds of approximately $25.8 million during fiscal 2020 through the sale of common stock and the exercise of warrants and options. In December 2020, following the end of the 2020 fiscal year, CEL-SCI raised an additional $14.7 million.

“The aim of our Phase 3 pivotal study is to show that our immunotherapy Multikine can help head and neck cancer patients when administered right after diagnosis, before surgery, radio and chemotherapy have weakened the immune system. After a decade of running the world’s largest Phase 3 study in head and neck cancer, we are looking forward to hearing the final study results which will hopefully prove our concept. We are grateful to all the stakeholders who have patiently been on this long journey with us,” stated CEL-SCI CEO, Geert Kersten.

“While Multikine in the treatment of head and neck cancer is our immediate focus and opportunity, based on Phase 3 results, we may evaluate Multikine for the treatment of other cancers, concurrent with advancing our LEAPS therapeutic vaccine platform in COVID-19 and rheumatoid arthritis,” Kersten concluded.

CEL-SCI reported a net loss of $30.3 million in fiscal year 2020 versus a net loss of $22.1 million in fiscal year 2019. The increase in net loss was predominantly due to an increase in research and development expenses by approximately $5.2 million, or 41%, and an increase in general and administrative expenses by approximately $3.7 million, or 46%, compared to the year ended September 30, 2019.

CEL-SCI believes that boosting a patient’s immune system while it is still intact should provide the greatest possible impact on survival. Therefore, in the Phase 3 study CEL-SCI treated patients who are newly diagnosed with advanced primary squamous cell carcinoma of the head and neck with the investigational product Multikine* first, BEFORE they received surgery, radiation and/or chemotherapy. This approach is unique. Most other cancer immunotherapies are administered only after conventional therapies have been tried and/or failed. Multikine (Leukocyte Interleukin, Injection), has received Orphan Drug designation from the FDA for the neoadjuvant therapy in patients with squamous cell carcinoma (cancer) of the head and neck.

CEL-SCI believes that this Phase 3 study is the largest Phase 3 study in the world for the treatment of head and neck cancer. Per the study’s protocol, newly diagnosed patients with advanced primary squamous cell carcinoma of the head and neck were treated with the Multikine treatment regimen right after diagnosis and prior to receiving the Standard of Care (SOC), which involves surgery, radiation or concurrent radiochemotherapy. Multikine is designed to help the immune system “see” the tumor at a time when the immune system is still relatively intact and thereby thought to better be able to mount an attack on the tumor. The aim of treatment with Multikine is to boost the body’s immune system prior to SOC to attack the cancer. The Phase 3 study is fully enrolled with 928 patients and the last patient was treated in September 2016. To prove an overall survival benefit, the study requires CEL-SCI to wait until 298 events have occurred among the two main comparator groups. This study milestone occurred in late April 2020. The study is currently in the statistical analysis phase.

The Company’s LEAPS technology is being developed for rheumatoid arthritis and as a potential treatment for COVID-19 infection. The Company has operations in Vienna, Virginia, and near/in Baltimore, Maryland.

The Company’s audited financial statements contained an audit opinion from its independent registered public accounting firm that included an explanatory paragraph related to the Company’s ability to continue as a going concern.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, the words “intends,” “believes,” “anticipated,” “plans” and “expects,” and similar expressions, are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Such statements include, but are not limited to, statements about the terms, expected proceeds, use of proceeds and closing of the offering. Factors that could cause or contribute to such differences include, an inability to duplicate the clinical results demonstrated in clinical studies, timely development of any potential products that can be shown to be safe and effective, receiving necessary regulatory approvals, difficulties in manufacturing any of the Company’s potential products, inability to raise the necessary capital and the risk factors set forth from time to time in CEL-SCI’s filings with the Securities and Exchange Commission, including but not limited to its report on Form 10-K for the year ended September 30, 2020. The Company undertakes no obligation to publicly release the result of any revision to these forward-looking statements which may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

* Multikine (Leukocyte Interleukin, Injection) is the trademark that CEL-SCI has registered for this investigational therapy, and this proprietary name is subject to FDA review in connection with the Company’s future anticipated regulatory submission for approval. Multikine has not been licensed or approved for sale, barter or exchange by the FDA or any other regulatory agency. Similarly, its safety or efficacy has not been established for any use. Moreover, no definitive conclusions can be drawn from the early-phase, clinical-trials data involving the investigational therapy Multikine. Further research is required, and early-phase clinical trial results must be confirmed in the Phase 3 clinical trial of this investigational therapy that is in progress.

 

CEL-SCI CORPORATION

STATEMENTS OF OPERATIONS

YEARS ENDED SEPTEMBER 30, 2020 and 2019
 

 

2020

 

 

2019

 

 

Grant income

$

558,664

 

$

462,754

 

 

Operating expenses:

Research and development

 

17,840,290

 

 

12,659,287

 

General and administrative

 

11,703,429

 

 

7,998,573

 

Total operating expenses

 

29,543,719

 

 

20,657,860

 

 

Operating loss

 

(28,985,055

)

 

(20,195,106

)

 

Other income

 

38,763

 

 

73,022

 

Loss on derivative instruments

 

(349,078

)

 

(760,603

)

Warrant inducement expense

 

(805,753

)

 

–

 

Other non-operating gain

 

887,604

 

 

545,528

 

Interest expense, net

 

(1,041,725

)

 

(1,797,481

)

Net loss

 

(30,255,244

)

 

(22,134,640

)

 

Modification of warrants

 

(21,734

)

 

–

 

 

 

Net loss available to common shareholders

$

(30,276,978

)

$

(22,134,640

)

 

Net loss per common share, basic and diluted

$

(0.82

)

$

(0.71

)

 

Weighted average common shares outstanding, basic and diluted

 

36,759,115

 

 

31,174,394

 

 

 

Gavin de Windt

CEL-SCI Corporation

(703) 506-9460

KEYWORDS: Virginia United States North America

INDUSTRY KEYWORDS: Oncology Health Infectious Diseases Clinical Trials Pharmaceutical Biotechnology

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