Market Newsdesk

ROCKVILLE, Md., Jan. 5, 2021 /PRNewswire/ — Cambria Hotels, an upscale brand franchised by Choice Hotels International, Inc. (NYSE: CHH), continues its rapid expansion across the country with the opening of the Cambria Hotel Detroit-Shelby Township. This marks the brand’s fifth new hotel since June, joining properties in Greenville, South Carolina; Madeira Beach, Florida; Ocean City, Maryland; and Sonoma, California. The four-story, 98-room hotel is the brand’s second hotel to open in Michigan, joining the Cambria Hotel Traverse City, while the Cambria Hotel Detroit Downtown is expected to open next year.

The Cambria Hotel Detroit-Shelby Township is located at 50741 Corporate Drive in Shelby Township, Michigan. Ideally situated for business and leisure travelers, the property is nearby Cherry Creek Corporate Park; the Packard Proving Grounds Historic Site, an event venue hosting farmers markets, car shows and more; Cherry Creek Golf Course; Jimmy John’s Field, home to four independent league baseball teams; Mae Stecker Park, which includes Heritage Garden; and the General Motors Technical Center. The hotel also offers convenient access to Michigan Highway, so guests can take a short drive to downtown Detroit where they can visit several national corporate headquarters, including Ford, General Motors, Chrysler and Quicken Loans, as well as take in events when safely permitted at the TCF Convention Center, Little Caesars Arena, Comerica Park and Ford Field.

“The opening of the Cambria Hotel Detroit-Shelby Township is a tremendous example of the hard work put in by all Cambria stakeholders to increase the brand’s footprint around the U.S., even while facing a challenging travel and construction environment. As a result of these efforts, guests across the country can experience upscale local gems in even more of their favorite locations as they return to travel,” said Janis Cannon, senior vice president, upscale brands, Choice Hotels. “We appreciate the construction, management and development teams such as Koucar Management that bring these Cambria projects to life, and look forward to finishing the year strong by adding more Cambria hotels in key markets.”

The Cambria Hotel Detroit-Shelby Township features upscale amenities and approachable indulgences that appeal to modern travelers, including:

• On-site dining, Verona by Fabio Viviani, featuring freshly made food, local craft beer on tap, wine and specialty cocktails, as well as to-go options.
• Multi-purpose indoor and outdoor spaces for productive work or relaxation, including an indoor heated pool.
• Locally inspired design décor, weaving together the modern grit of Detroit with a vintage flare and paying homage to famous historical cars.
• Contemporary and sophisticated guest rooms, complete with design forward fixtures, abundant lighting and plush bedding.
• Immersive, spa-style bathrooms with Bluetooth mirrors.
• State-of-the-art fitness center.
• 1,500-square feet of multi-function meeting and event space.

All Choice-branded hotels are participating in Commitment to Clean, an initiative that builds upon the strong foundation of franchisees’ long-standing dedication to cleanliness with enhanced training and best practices for deep cleaning, disinfecting and social distancing. Additionally, Cambria guests can limit their interactions with hotel staff by using the Cambria Contactless Concierge Service, a text messaging service for housekeeping requests, to-go food orders, meeting room requests and more.

The Cambria Hotel Detroit-Shelby Township was developed by Koucar Management, which is also working to build the Cambria Hotel Detroit Downtown, as well as additional Cambria hotels in Portland, Maine and Washington, D.C. There are currently over 50 Cambria hotels open across the U.S. in popular cities such as Chicago, Los Angeles, New York, New Orleans and Phoenix, with 80 hotels in the pipeline.

For more information on Cambria Hotels development opportunities, visit choicehotelsdevelopment.com/cambriahotels.

About Cambria Hotels

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The Cambria Hotels brand is designed for the modern traveler, offering guests a distinct experience with simple, guilt-free indulgences allowing them to treat themselves while on the road. Properties feature compelling design inspired by the location, spacious and comfortable rooms, flexible meeting space, and local, freshly prepared food and craft beer. Cambria Hotels is rapidly expanding in major U.S. cities, with hotels open in Chicago, Los Angeles, New York, Pittsburgh, and Washington, D.C. There are over 130 Cambria properties open or in the pipeline across the United States, with more than 50 currently open. To learn more, visit www.choicehotels.com/cambria.

About Choice Hotels

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Choice Hotels International, Inc. (NYSE: CHH) is one of the largest lodging franchisors in the world. With more than 7,100 hotels, representing nearly 600,000 rooms, in over 40 countries and territories as of September 30, 2020, the Choice^® family of hotel brands provide business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upscale, midscale, extended-stay and economy segments. The award-winning Choice Privileges^® loyalty program offers members benefits ranging from everyday rewards to exceptional experiences. For more information, visit www.choicehotels.com.  

About Koucar Management, LLC

Koucar Management is a privately held, Michigan-based company with a diverse portfolio of holdings and investments. Our wide spectrum of business activities includes: general contracting, construction management, land development, residential, commercial and industrial construction, hotel, restaurant and property management, real estate services and equipment leasing. Koucar Management has an investment strategy that firmly focuses on expansion within existing industries, bringing new vitality to acquired businesses and laying the groundwork for new ventures.  With our recognized management strengths and ample financial resources, Koucar Management is providing growth capital and other resources to its portfolio of companies, with a collective pipeline in excess of $300 million. Our vision is clear; motivated, skilled partners & employees, significant financial strength and stability, a willingness to look beyond conventional performance measurements and an untiring commitment to our customers. Since our founding, we have viewed obstacles as opportunities, placed a premium on sweat equity and sought out affiliates and individuals who share our passion for excellence. Working together, we guarantee the best is yet to come. Visit www.koucar.com.

Forward-Looking Statement

This communication includes “forward-looking statements” about future events, including anticipated hotel openings. Such statements are subject to numerous risks and uncertainties, including construction delays, availability and cost of financing and the other “Risk Factors” described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, any of which could cause actual results to be materially different from our expectations.

Addendum

This is not an offering. No offer or sale of a franchise will be made except by a Franchise Disclosure Document first filed and registered with applicable state authorities. A copy of the Franchise Disclosure Document can be obtained through contacting Choice Hotels International at 1 Choice Hotels Circle, Suite 400, Rockville, MD 20850, [email protected].

© 2020 Choice Hotels International, Inc. All Rights Reserved

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SOURCE Choice Hotels International, Inc.

TORONTO, Jan. 5, 2021 /CNW/ – Victor Dodig, President and Chief Executive Officer, CIBC (TSX: CM) (NYSE: CM) will speak at the RBC Capital Markets 2021 Canadian Bank CEO Conference on Monday January 11, 2021. Mr. Dodig is scheduled to address the conference at 10:15 a.m. ET.

Interested parties may access the live audio webcast at https://www.cibc.com/ca/investor-relations/exctv-prsntatns-wbcsts.html. An archived version of the audio webcast will be available at the same location.

About CIBC

CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.

SOURCE CIBC

NEW YORK, Jan. 5, 2021 /PRNewswire/ — Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company, today announced that it has entered into a definitive securities purchase agreement in connection with a private placement to institutional investors.  Upon the closing of the financing, the Company expects to receive gross proceeds of approximately $5.0 million, not including any proceeds that may be received upon exercise of warrants. The closing of the financing is subject to customary closing conditions. 

The Benchmark Company, LLC is acting as the exclusive placement agent for the financing. 

Under the securities purchase agreement, the investors have agreed to purchase 2,475,248 million shares of the Company’s Common Stock (“Common Stock”) and accompanying warrants to purchase up to an aggregate of approximately 1,237,624 million shares of Common Stock, at a purchase price of $2.02 per share and accompanying warrant to purchase 0.5 of a share of Common Stock, which is at-the-market under Nasdaq rules. The warrants will be exercisable for a period of five years following the date of issuance and will have an exercise price of $2.25 per share, subject to proportional adjustments in the event of stock splits or combinations or similar events.  The closing is expected to occur on January 7, 2021, subject to customary closing conditions. 

The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

About Hoth Therapeutics, Inc.
Hoth Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing new generation therapies for dermatological disorders. Hoth’s pipeline has the potential to improve the quality of life for patients suffering from indications including atopic dermatitis, chronic wounds, psoriasis, asthma and acne. Hoth has also recently entered into two different agreements to further the development of two different therapeutic prospects to prevent or treat COVID-19. To learn more, please visit www.hoththerapeutics.com.

Forward-Looking Statement
This press release includes forward-looking statements based upon Hoth’s current expectations which may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and other federal securities laws, and are subject to substantial risks, uncertainties and assumptions. These statements concern Hoth’s business strategies; the timing of regulatory submissions; the ability to obtain and maintain regulatory approval of existing product candidates and any other product candidates we may develop, and the labeling under any approval we may obtain; the timing and costs of clinical trials, the timing and costs of other expenses; market acceptance of our products; the ultimate impact of the current Coronavirus pandemic, or any other health epidemic, on our business, our clinical trials, our research programs, healthcare systems or the global economy as a whole; our intellectual property; our reliance on third party organizations; our competitive position; our industry environment; our anticipated financial and operating results, including anticipated sources of revenues; our assumptions regarding the size of the available market, benefits of our products, product pricing, timing of product launches; management’s expectation with respect to future acquisitions; statements regarding our goals, intentions, plans and expectations, including the introduction of new products and markets; and our cash needs and financing plans. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. You should not place reliance on these forward-looking statements, which include words such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” or similar terms, variations of such terms or the negative of those terms. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee such outcomes. Hoth may not realize its expectations, and its beliefs may not prove correct. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described in the section entitled “Risk Factors” in Hoth’s most recent Annual Report on Form 10-K and Hoth’s other filings made with the U. S. Securities and Exchange Commission. All such statements speak only as of the date made. Consequently, forward-looking statements should be regarded solely as Hoth’s current plans, estimates, and beliefs. Investors should not place undue reliance on forward-looking statements. Hoth cannot guarantee future results, events, levels of activity, performance or achievements. Hoth does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by applicable law.

Investor Contact:
LR Advisors LLC
Email: [email protected]
www.hoththerapeutics.com
Phone: (678) 570-6791

 

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SOURCE Hoth Therapeutics, Inc.

TEL AVIV, Israel, Jan. 5, 2021 /PRNewswire/ — Therapix Biosciences Ltd. (OTCQB: TRPXY), a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments, today announced it has entered a non-binding letter of intent with Cyntar Ventures Inc., an innovative company dedicated to the development and commercialization of advanced products and therapies in the psychoactive pharmaceutical sphere.

Any transaction between the parties remains subject to entry into a definitive agreement(s) and such agreement(s) may be subject to closing conditions, including regulatory approval. Subject to the negotiation of definitive agreement(s), Cyntar will be granted a distribution license, exclusive to Canada only, to distribute all of the proprietary product varieties relating to TheraPEA, subject to payment to Therapix of those amounts to be stipulated in the definitive agreement(s), including royalties from the gross profit of TheraPEA.

Therapix has a proprietary product called “TheraPEA” (CannAmide™) which has been issued a product license from Health Canada’s Natural and Non-prescription Health Products Directorate (NNHPD) for the recommended use as an anti-inflammatory and to help relieve chronic pain.

Chronic pain is estimated to affect one-third to fifty percent of the world population, and according to an analysis by the World Health Organization, half of the most prevalent conditions responsible for those living with a disability can be characterized by the presence of different kinds of pain. With the NNHPD license, Therapix has the ability to offer crucial and improved access to safe and beneficial non-opiate pain management products to patients in Canada. 

CannAmide is a cannabimimetic compound that regulates endocannabinoid levels by enhancing receptor sensitivity and inhibiting their metabolism, and is particularly attractive therapeutically, with external research and studies indicating that the compound may have a high safety profile with low or no abuse liability. Although numerous clinical trials have shown the favorable effect of PEA, as an analgesic agent it has low solubility.  Using its proprietary TheraPEA, Therapix offers an immediate release formulation to improve bioavailability.

About Therapix Biosciences (OTCQB: TRPXY):

Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. Our focus is creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the company is currently engaged in the following drug development programs based on tetrahydrocannabinol (THC) and/or non-psychoactive cannabidiol (CBD): THX-110 for the treatment of Tourette syndrome and for the treatment of obstructive sleep apnea; THX-160 for the treatment of pain; and THX-210 for the treatment of autism spectrum disorder and epilepsy. Please visit our website for more information at www.therapixbio.com, the content of which is not a part of this press release.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, Therapix is using forward-looking statements when it discusses the signing of definitive agreement(s), its ability to offer crucial and improved access to safe and beneficial non-opiate pain management products to patients in Canada and the high safety profile and abuse liability of CannAmide. The transaction described here may never be consummated and definitive agreement(s) may not be executed, and, if executed, such agreement(s) may be subject to conditions before it can be completed. In addition, the market for products contemplated by the letter of intent is in a period of regulatory and business uncertainty and financial and business results from such businesses are uncertain. Historic results of scientific research and clinical and preclinical trials do not guarantee that the conclusions of future research or trials will suggest identical or even similar conclusions. Because such statements deal with future events and are based on Therapix’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Therapix could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Therapix’s Annual Report on Form 20-F filed with the SEC on June 15, 2020, and in subsequent filings with the U.S. Securities and Exchange Commission. Except as otherwise required by law, Therapix disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.

 

Investor Contact:


[email protected]


Tel: +972-3-6167055
[email protected]

 

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SOURCE Therapix Biosciences Ltd.

LOD, Israel, Jan. 5, 2021 /PRNewswire/ — AudioCodes (NASDAQ: AUDC), a leading vendor of advanced communications software, products and productivity solutions for the digital workplace, today announced that it will release financial results for its fourth quarter and year end 2020 on Tuesday, January 26, 2021, before the market open on NASDAQ, reflecting the quarterly period ended December 31, 2020. AudioCodes’ financial results will be released over the news wires and will also be posted on its corporate website.

On Tuesday, January 26, 2021 at 8:30 a.m. Eastern Time, AudioCodes will conduct a conference call to discuss the fourth quarter and year end 2020 results, which will be webcasted simultaneously. The call will be hosted by Shabtai Adlersberg, AudioCodes’ President and Chief Executive Officer, and Niran Baruch, AudioCodes’ Chief Financial Officer.

Investors are invited to listen to the call live by dialing 877-407-0778 in the USA or +1 201-689-8565 internationally or via webcast on the AudioCodes investor website at http://www.audiocodes.com/investors-lobby. Please visit the website at least 15 minutes prior to the call to register, download, and install any necessary audio software. A replay of the call will be available on the AudioCodes investor website approximately two hours after the conference call has ended.

Follow AudioCodes’ social media channels:

AudioCodes invites you to join our online community and follow us on: AudioCodes Voice Blog, LinkedIn, Twitter, Facebook, and YouTube.

About AudioCodes

AudioCodes Ltd. (NASDAQ: AUDC) (TASE: AUDC) is a leading vendor of advanced communications software, products and productivity solutions for the digital workplace. AudioCodes enables enterprises and service providers to build and operate all-IP voice networks for unified communications, contact centers, and hosted business services. AudioCodes offers a broad range of innovative products, solutions and services that are used by large multi-national enterprises and leading tier-1 operators around the world.

For more information on AudioCodes, visit http://www.audiocodes.com.

Statements concerning AudioCodes’ business outlook or future economic performance; product introductions and plans and objectives related thereto; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are “forward-looking statements” as that term is defined under U.S. Federal securities laws. Forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to: the effect of global economic conditions in general and conditions in AudioCodes’ industry and target markets in particular; shifts in supply and demand; market acceptance of new products and the demand for existing products; the impact of competitive products and pricing on AudioCodes’ and its customers’ products and markets; timely product and technology development, upgrades and the ability to manage changes in market conditions as needed; possible need for additional financing; the ability to satisfy covenants in the Company’s loan agreements; possible disruptions from acquisitions; the ability of AudioCodes to successfully integrate the products and operations of acquired companies into AudioCodes’ business; possible adverse impact of the COVID-19 pandemic on our business and results of operations; and other factors detailed in AudioCodes’ filings with the U.S. Securities and Exchange Commission. AudioCodes assumes no obligation to update the information in this release.

©2021 AudioCodes Ltd. All rights reserved. AudioCodes, AC, HD VoIP, HD VoIP Sounds Better, IPmedia, Mediant, MediaPack, What’s Inside Matters, OSN, SmartTAP, User Management Pack, VMAS, VoIPerfect, VoIPerfectHD, Your Gateway To VoIP, 3GX, VocaNom, AudioCodes One Voice, AudioCodes Meeting Insights, AudioCodes Room Experience and CloudBond are trademarks or registered trademarks of AudioCodes Limited. All other products or trademarks are property of their respective owners. Product specifications are subject to change without notice.

Company Contact

Niran Baruch,
VP Finance & Chief Financial Officer
AudioCodes
Tel: +972-3-976-4000
[email protected]  

Shirley Nakar – Orgad
Director, Investor Relations
AudioCodes
Tel: +972-3-976-4000
[email protected]  

IR Agency Contact
Brett Maas, Managing Director
Hayden IR
Tel: +1-646-536-7331
[email protected]

 

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SOURCE AudioCodes

CHENGDU, China, Jan. 5, 2021 /PRNewswire/ — Senmiao Technology Limited (“Senmiao”) (Nasdaq: AIHS), a financing and servicing company focused on the online ride-hailing industry in China as well as an operator of its own online ride-hailing platform, today announced operating metrics for its proprietary online ride-hailing platform, Xixingtianxia (known as XXTX), for the month of December 2020 which showed a significant increase in number of completed rides (or orders) and active ride-hailing drivers who completed rides on its platform (or Active Drivers).

Senmiao announced the launch of XXTX in late October 2020 to ride-hailing drivers in Chengdu, China, one of Senmiao’s core cities with a population of approximately 16 million. In December 2020, Senmiao expanded the availability of XXTX to Changsha, China, with a population of approximately 8 million. Since the October 2020, over 1.3 million rides have been completed using XXTX, including over 620,000 rides during December 2020 despite concerns over the re-occurrence of COVID-19 in Chengdu that arose over the past few weeks. The average monthly growth rate of the number of orders and the Active Drivers during the three months ending December 31, 2020 was approximately 96% and 66%, respectively, representing strong growth since the launch of XXTX.

During November and December 2020, which were the first two full months of XXTX’s operation since Senmiao acquired the platform, Senmiao also saw a significant increase in the numbers and gross amount of rides following its strategic cooperation with Gaode Map and Meituan, two well-known ride-hailing aggregation platforms in Chengdu. Senmiao also saw strong adoption of XXTX in Changsha since the launch in late December, although the platform is still in the early stage of development. The average price per ride varies greatly depending on distance and time of day.

The table below presents the approximate, unaudited operating metrics of XXTX for the quarter ended December 31, 2020.

In addition, as of December 31, 2020, approximately 19% of the XXTX Active Drivers also lease automobiles from Senmiao, which demonstrates early results from Senmiao’s strategy to cross sell its core ride-hailing focused automobile finance and leasing business with the newer XXTX business.  

About Senmiao Technology Limited

Headquartered in Chengdu, Sichuan Province, Senmiao provides automobile transaction and related services including sales of automobiles, facilitation and services for automobile purchase and financing, management, operating lease, guarantee and other automobile transaction services as well as operates its own ride-hailing platform aimed principally at the growing ride-hailing market in Senmiao’s areas of operation in China. For more information about Senmiao, please visit: http://www.senmiaotech.com.

Cautionary Note Regarding Forward-Looking Statements 

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements (including those relating to the operation of Senmiao’s XXTX ride-hailing platform in Changsha and Chengdu, China) are subject to significant risks, uncertainties and assumptions, including those detailed from time to time in the Senmiao’s filings with the SEC, and represent Senmiao’s views only as of the date they are made and should not be relied upon as representing Senmiao’s views as of any subsequent date. Senmiao undertakes no obligation to publicly revise any forward-looking statements to reflect changes in events or circumstances. 

For more information, please contact:

At the Company:
Yiye Zhou
Email: [email protected]
Phone: +86 28 6155 4399

Investor Relations:
The Equity Group Inc.                                                                      In China
Adam Prior, Senior Vice President                                                  Lucy Ma, Associate
(212) 836-9606                                                                                +86 10 5661 7012
[email protected]                                                                      [email protected]

© 2020 Senmiao Technology Ltd. All rights reserved.

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SOURCE Senmiao Technology Limited

SEATTLE, Jan. 5, 2021 /PRNewswire/ — RealNetworks, Inc. (Nasdaq: RNWK) today announced the completion of the previously disclosed sale of Rhapsody International, Inc., which does business as Napster, to MelodyVR Group PLC. Effective December 30, 2020 and pursuant to the merger agreement between the parties, MelodyVR’s subsidiary merged with and into Napster, with Napster surviving and becoming a wholly-owned subsidiary of MelodyVR. RealNetworks, which owned 84% of Rhapsody, was not a direct party to the merger agreement other than as a security holder representative.

“We are very pleased with the completion of the sale of Napster to MelodyVR,” said Rob Glaser, Chairman and CEO of RealNetworks. “The proceeds of the sale strengthen Real’s balance sheet and enable us to focus even more deeply on our primary growth initiatives which consist of two machine learning-based businesses, SAFR and Kontxt, and our GameHouse casual games business.”

Valued at the closing date, the price of the transaction is approximately $70.6 million, comprising $15.0 million in cash, $11.6 million in MelodyVR stock, and assumption by MelodyVR of approximately $44.0 million in payment obligations, primarily to various music industry entities. In connection with the sale, RealNetworks received $1.5 million on repayment of a note and $10.0 million worth of MelodyVR stock in repayment of an outstanding loan; these shares are subject to a 12-month lockup.  RealNetworks also received $5.7 million in cash and stock proceeds in liquidation preference based on its preferred stock holdings in Napster.  In addition, $3.0 million will be held in an 18-month indemnity escrow; the residual portion will be paid to RealNetworks after 18 months.

A portion of the proceeds paid to RealNetworks is subject to contingent consideration obligations associated with its January 2019 acquisition from Columbus Nova of a 42% Napster stake and a $5.0 million loan that Columbus Nova had made to Napster. As a result of the sale, RealNetworks expects to pay Columbus Nova an estimated $4.8 million in value, including shares of MelodyVR stock valued at the closing of the Napster sale transaction.

Glaser added, “I want to thank the Napster leadership team for all of their great work getting us to this point. Moreover, since we will be an ongoing shareholder in the merged company, we wish MelodyVR great success.”   

About RealNetworks
Building on a legacy of digital media expertise and innovation, RealNetworks has created a new generation of products that employ best-in-class artificial intelligence and machine learning to enhance and secure our daily lives. SAFR (www.safr.com) is the world’s premier facial recognition platform for live video. Leading in real-world performance and accuracy as evidenced in testing by NIST, SAFR enables new applications for security, convenience, and analytics. For information about our other products, visit www.realnetworks.com.

RealNetworks is a registered trademark of RealNetworks, Inc. All other trademarks, names of actual companies and products mentioned herein are the property of their respective owners.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including statements relating to RealNetworks’ current expectations regarding the potential benefits of the Napster sale transaction and anticipated proceeds payable to Columbus Nova. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. These statements reflect RealNetworks’ expectations as of today, and actual results may differ materially from the results predicted. Factors that could cause actual results to differ from the results predicted include growth and other benefits from the implementation of the Company’s growth plan, strategic initiatives, and restructuring efforts; and other potential risk factors that could affect RealNetworks’ business and financial results described in RealNetworks’ annual report on Form 10-K for the most recently reported fiscal year, its quarterly reports on Form 10-Q and in other reports and documents filed by RealNetworks from time to time with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements or information, which are in effect as of their respective dates.

For More Information:
Investor Relations for RealNetworks
Kimberly Orlando, Addo Investor Relations
310-829-5400
[email protected]
RNWK-F

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SOURCE RealNetworks, Inc.

CARLSBAD, Calif., Jan. 5, 2021 /PRNewswire/ — Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a biotechnology company focused on developing novel therapeutics for the treatment of cancer and infectious diseases, today announced that Michael Poirier, Chairman, Chief Executive Officer and President, will present at the H.C. Wainwright BioConnect 2021 Virtual Conference to be held January 11-14, 2021.

A webcast of the presentation will be accessible on demand beginning Monday, January 11, 2021 on the Qualigen Therapeutics website, https://www.qualigeninc.com/, in the Investors section.   

 

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SOURCE Qualigen, Inc.