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Newcore Gold Intersects 1.27 g/t Gold Over 27.0 Metres and Reports 89.4% Average Gold Recoveries from Metallurgical Testwork, at the Enchi Gold Project, Ghana

Drill Results from Step Out Drilling on the Boin Gold Deposit and Positive Metallurgical Results from Bottle Roll Tests on the Boin and Sewum Gold Deposits

VANCOUVER, British Columbia, Jan. 07, 2021 (GLOBE NEWSWIRE) — Newcore Gold Ltd. (“Newcore” or the “Company”) (TSX-V: NCAU) is pleased to provide an update on the work program underway at the Company’s 100% owned Enchi Gold Project (“Enchi” or the “Project”) in Ghana, including additional results from the ongoing 58,000 metre drill program and results of metallurgical testwork. Drilling has intersected 1.27 grams per tonne gold (“g/t Au”) over 27.0 metres (“m”) from 27 m at the Boin Gold Deposit (“Boin”) at Enchi, with results extending Boin along strike. Newcore is also pleased to announce positive metallurgical results from bottle roll tests completed on the Boin and Sewum Gold Deposits, with samples achieving an average gold recovery of 89.4%.

Highlights

  • Drill results from the additional holes drilled at Boin include:

    • Hole KBRC163 intersected 1.27 g/t Au over 27.0 m from 27 m to 54 m (oxide zone).
    • Hole KBRC169 intersected 1.41 g/t Au over 14.0 m from 55 m to 69 m, including 2.86 g/t Au over 6.0 m from 62 m to 68 m (oxide zone).
    • Hole KBRC175 intersected 0.65 g/t Au over 22.0 m from 67 m to 89 m (oxide zone).
  • Metallurgical testing returned an average gold recovery of 89.4%. Bottle roll testing completed on material from the Boin and Sewum Gold Deposits.
  • Drilling on the Project continues with three rigs currently on site, and an additional two rigs anticipated to be on-site by the end of January.

Luke Alexander, President & CEO of Newcore stated, “We continue to have strong results from the drilling that is underway at our Enchi Gold Project in Ghana. These results followed-up on the initial positive results we released in 2020 from Boin and continue to extend the deposit along strike, reinforcing the potential for resource growth at our existing deposits at Enchi. To date we have released results for less than 25% of the total planned 58,000 metre program that is underway, and as such we look forward to continuing to prove out the potential of our district-scale Project.”

Greg Smith, Vice President of Exploration of Newcore stated, “Drilling at the Boin Gold Deposit at Enchi continues to extend the strike length of the deposit, with further drilling on this area planned in 2021 as we accelerate the pace of our drill program. The results of the metallurgical testwork continue to confirm the excellent characteristics of the oxide material with an average recovery of 89.4% achieved from 24-hour bottle roll tests completed on 49 samples taken from our two primary resource areas at Enchi, the Boin and Sewum Gold Deposits.”

This news release highlights 25 holes targeting the Boin Gold Deposit. The 25 holes (3,950 m) drilled at Boin extended the zone along strike intersecting both wide gold mineralized zones and multiple sub-parallel structures. Additional drilling is planned at Boin in 2021 to follow-up on these results.

A total of 18,149 metres in 113 holes have been completed as part of the ongoing 2020 – 2021 drill program at Enchi. For the total planned 58,000 metre drill program, assay results have now been received and released for 88 holes representing 13,722 metres (25 holes totalling 3,950 metres reported in this news release in addition to previously released results – 19 holes on December 15, 2020, 8 holes on November 26, 2020, 10 holes on November 10, 2020, 13 holes on October 21, 2020 and 13 holes on September 28, 2020).

Select assay results from the 25 holes of the drill program reported in this release are below:

Table 1 – Enchi Gold Project Drill Highlights

Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)
KBRC162 Boin 101.0 107.0 6.0 1.67
KBRC163 Boin 27.0 54.0 27.0 1.27
KBRC164 Boin 19.0 25.0 6.0 1.23
and   102.0 114.0 12.0 0.69
KBRC169 Boin 55.0 69.0 14.0 1.41
including   62.0 68.0 6.0 2.86
KBRC172 Boin 128.0 138.0 10.0 0.92
KBRC175 Boin 67.0 89.0 22.0 0.65
KBRC176 Boin 95.0 105.0 10.0 0.64
KBRC181 Boin 127.0 138.0 11.0 0.45
and   155.0 162.0 7.0 1.05
KBRC184 Boin 102.0 111.0 9.0 0.82
and   145.0 166.0 21.0 0.94

Notes:

  1. See detailed table for complete results
  2. Intervals reported are core lengths with true width estimated to be 75 – 85%
  3. Length-weighted averages from uncut assays

A plan map showing the drill hole locations can be viewed at:
https://newcoregold.com/site/assets/files/5642/2021_01_07-ncau-nr-enchi-plan-map-l.pdf

A cross section showing drill results and highlights for holes KBRC163 and KBRC164 can be viewed at:
https://newcoregold.com/site/assets/files/5642/2021_01-ncau-crosssection-boin-kbrc163-kbrc164-l.pdf

A complete list of the 2020 – 2021 drill results to date, including hole details, can be viewed at:
https://newcoregold.com/site/assets/files/5642/2021_01-ncau-enchi-2020-2021-drill-results-table-l.pdf

Enchi hosts a pit constrained National Instrument 43-101 (“NI 43-101”) Inferred Mineral Resource of 52.9 million tonnes grading 0.72 g/t Au containing 1.22 million ounces gold (see Newcore news release dated September 14, 2020). The Company filed a NI 43-101 compliant technical report in support of the updated mineral resource estimate on October 28, 2020.

Metallurgical Testwork

The 2020 metallurgical testwork for the Enchi Gold Project consisted of a series of bottle roll tests completed by Intertek Minerals Limited on 49 representative oxide samples from the ongoing drill program. These samples focused on Boin (20 samples) and Sewum (29 samples), the two gold deposits on the Project that currently represent the majority of the NI 43-101 Inferred Mineral Resource.

An average gold recovery of 89.4% was achieved from 24-hour bottle roll tests, with 43 of the 49 samples achieving a recovery greater than 75%. The samples from Boin had an average recovery of 91.4% (17 of the 20 samples had a recovery greater than 75%), and the samples from Sewum had an average recovery of 88.8% (26 of the 29 samples had a recovery greater than 75%).

Samples were selected from the 2020 drilling to include a range of gold grades, weathering intensities (closely related to depth), as well as different areas of each deposit. Most of the samples (38 of 49) were selected from the moderately and highly weather categories which represent the largest component of the weathered profile at Enchi, with those samples achieving an average recovery rate of 91.5% (34 of the 38 samples had a recovery greater than 80%). No significant relationship was noted between the recovery rate and the sample grade or sample depth. Further metallurgical testing is ongoing as part of the current work program at Enchi.

2020 – 2021 Enchi Drilling Program

A 58,000 metre discovery and resource expansion drilling program is underway at Enchi. The program includes both RC and diamond drilling and will include the first deep drilling planned on the Project. This drill program includes testing extensions of the existing resource areas while also testing a number of high priority exploration targets outside of the Inferred Mineral Resource. Drilling is focused on step out extensions and exploration drilling at the Boin, Sewum, and Nyam Deposits. Additional drilling is planned at previously drilled zones that are outside of the resource area (Kojina Hill, Kwakyekrom and Eradi), along with first pass drilling to test a series of kilometre-scale gold-in-soil anomalous zones with no prior drilling (Nkwanta, Sewum South and other anomalies). All zones represent high priority targets based on geological, geochemical and geophysical surface work and previous trenching and drilling.

Boin Gold Zone

The Boin Gold Deposit is one of the primary deposits currently included in the NI 43-101 Inferred Mineral Resource Estimate at Enchi. Boin is located 15 kilometres south of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. Boin is outlined on surface by a five-kilometre-long by up to one-kilometre-wide gold in soil anomaly. An airborne geophysical anomaly coincident with the Boin structure extends for a further two kilometres north and five kilometres south beyond the limits of current drilling.

Drill Hole Locations

Table 2 – Enchi Gold Project Drill Hole Location Details

Hole ID UTM East UTM North Elevation Azimuth ° Dip ° Length (m)
KBRC160 518358 632778 124 114 -60 120
KBRC161 518330 632898 128 114 -55 200
KBRC162 518321 632793 120 114 -60 156
KBRC163 519678 634811 141 114 -60 102
KBRC164 519649 634822 164 114 -60 144
KBRC165 519895 635045 120 114 -60 102
KBRC166 519886 635049 126 114 -60 140
KBRC167 519836 634974 123 114 -60 120
KBRC168 519816 634986 121 114 -60 140
KBRC169 519973 635110 128 114 -60 138
KBRC170 520050 635185 141 114 -60 156
KBRC171 520030 635195 129 114 -60 150
KBRC172 520131 635252 125 114 -60 150
KBRC173 520105 635265 126 114 -60 186
KBRC174 519957 635121 130 114 -60 162
KBRC175 520291 635396 119 114 -60 150
KBRC176 520369 635575 130 114 -60 182
KBRC177 520320 635523 123 114 -65 228
KBRC178 520297 635532 117 114 -65 220
KBRC179 520436 635631 133 114 -50 150
KBRC180 520415 635637 134 114 -55 170
KBRC181 520393 635648 138 114 -60 216
KBRC182 520570 635717 137 114 -60 108
KBRC183 520544 635724 131 114 -60 144
KBRC184 520234 635422 114 114 -60 216

COVID-19 Protocols

Newcore’s first priority is the health and safety of all employees, contractors, and local communities. The Company is following all Ghana guidelines and requirements related to COVID-19. The Company has implemented COVID-19 protocols for its ongoing drill program consisting of the mandatory use of personal protective equipment (including facemask for all employees), maintaining social distancing, frequent hand washing, and daily temperature checks at the start of each shift.

Newcore Gold Best Practice

Newcore is committed to best practice standards for all exploration, sampling and drilling activities. Drilling was completed by an independent drilling firm using industry standard RC and Diamond Drill equipment. Analytical quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to Intertek Labs located in Tarkwa, Ghana for 50 gram gold fire assay.

Qualified Person

Mr. Gregory Smith, P. Geo, Vice President of Exploration of Newcore, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release.

About Newcore Gold Corp.

Newcore Gold is advancing its Enchi Gold project located in Ghana, Africa’s largest gold producer 1. The Project currently hosts an Inferred Mineral Resource of 1.2 million ounces of gold at 0.72 g/t 2. Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 32% equity ownership, and prime district scale exploration opportunities. Enchi’s 216 km2 land package covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several 5 million-ounce gold deposits, including Kinross’ Chirano mine 50 kilometers to the north. Newcore’s vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders.

On Behalf of the Board of Directors of Newcore Gold Ltd.

Luke Alexander
President, CEO & Director

For further information, please contact:

Mal Karwowska | Vice President, Corporate Development and Investor Relations
+1 604 484 4399
[email protected]
www.newcoregold.com  

1 Source: Production volumes for 2019 as sourced from the World Gold Council

2 Notes for Inferred Mineral Resource Estimate:

  1. CIM definition standards were followed for the resource estimate.
  2. The 2020 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids and constrained by whittle pits shell.
  3. A base cut-off grade of 0.3 g/t Au was used with a capping of gold grades at 18 g/t.
  4. A US$1,500/ounce gold price, open pit with heap leach operation was used to determine the cut-off grade of 0.3 g/t Au. Mining costs of US$2.27/mined tonne and G&A and Milling costs of US$9.84/milled tonne. The Inferred Mineral Resource Estimate is pit constrained.
  5. A density of 2.45 g/cm3 was applied. Numbers may not add due to rounding.
  6. Mineral Resources that are not mineral reserves do not have economic viability.
  7. These numbers are from the technical report titled “Enchi Gold Project, Resource Update, Enchi, Ghana”, with an effective date of October 21, 2020, prepared by Todd McCracken, P. Geo. and Greg Smith, P. Geo. in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and is available under Newcore’s SEDAR profile at www.sedar.com.

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


Cautionary Note Regarding Forward-Looking Statements

This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as
“
expects
“
or does not expect”, “is expected”,
“
anticipates” or “does not anticipate”, “plans”, “estimates” or “intends” or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken,
“
occur
“
or
“
be achieved
“
) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.

Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

 



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Perion Network to Announce Fourth Quarter and Annual 2020 Financial Results on February 9th, 2021

Perion Network to Announce Fourth Quarter and Annual 2020 Financial Results on February 9th, 2021

Management to Present at the 23rd Annual Needham Virtual Growth Conference on Monday, January 11th

TEL AVIV, Israel & NEW YORK–(BUSINESS WIRE)–
Perion Network Ltd. (NASDAQ: PERI), a global technology company that delivers Synchronized Digital Branding solutions across the three main pillars of digital advertising – Ad Search, Social media and Display / Video, announced today that it will release its financial results for the fourth quarter and full year 2020, on Tuesday, February 9th, 2021, prior to the opening of the financial markets.

Doron Gerstel, CEO and Maoz Sigron, CFO will host a conference call to discuss the results at 8:30 a.m. ET that day.

Call details:

  • Conference ID: 7553088
  • Dial-in number from within the United States: 1-888-394-8218
  • Dial-in number from Israel: 1809 212 883
  • Dial-in number (other international): 1-323-701-0225
  • Playback available until February 16, 2021 by calling 1-844-512-2921 (United States) or 1-412-317-6671 (international). Please use PIN code 7553088 for the replay.
  • Link to the live and archived webcast accessible at https://www.perion.com/ir-info/

Separately, the Company announced today that management will participate in the 23rd Annual Needham Virtual Growth Conference and conduct virtual meetings on Monday and Tuesday, January 11-12.

The company’s presentation by Doron Gerstel, Chief Executive Officer, will take place on January 11 at 8:30 AM Eastern Time, will be webcast and can be accessed by using the following link:

https://wsw.com/webcast/needham103/peri/2247264

About Perion Network Ltd.

Perion is a global technology company that provides agencies, brands and publishers with innovative solutions that cover the three pillars of digital advertising. From its data-driven Synchronized Digital Branding platform and high-impact ad formats in the display domain; to its powerful social media platform; to its branded search network, Perion is well-positioned to capitalize on any changes in marketers’ allocation of digital advertising spend. More information about Perion can be found at www.perion.com.

Perion Network Ltd.

Investor relations

Rami Rozen

+972 52 5694441

[email protected]

Source: Perion Network Ltd.

KEYWORDS: United States North America Israel Middle East New York

INDUSTRY KEYWORDS: Software Social Media Internet Marketing Advertising Data Management Communications Technology

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TEGNA Extends Multi-Faceted Partnership with FreeWheel

TEGNA Extends Multi-Faceted Partnership with FreeWheel

Partnership enables enhanced, automated access for media buyers to Premion’s CTV/OTT ad platform.

TYSONS, Va. & NEW YORK–(BUSINESS WIRE)–
Today, TEGNA, Inc. (NYSE: TGNA) and FreeWheel, a Comcast Company (Nasdaq: CMCSA), announced a new multi-year deal to further transform and automate the way TEGNA’s buyers and sellers transact, including through CTV/OTT advertising platform Premion.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210107005257/en/

Under the terms of the deal, TEGNA will continue working with FreeWheel to help enhance business operations in several different ways, including using FreeWheel’s Strata platform to process electronic orders through ePort, an automated platform that enables purchasing ads from local television stations. TEGNA currently connects with agencies through FreeWheel’s ePort platform, enabling its sellers to receive electronic orders from buyers, send makegoods back to the buying platform, and receive revisions electronically.

Premion, an industry-leading CTV/OTT advertising platform for regional and local advertisers, will continue to use FreeWheel’s Strata ad management platform to enable more than 1100 agencies access to Premion’s video inventory from 125+ premium publishers. FreeWheel’s marketplace-based technology enables Premion to further enhance its advertising operations, facilitate automation, and increase agency access to its OTT inventory.

The companies have also committed to continuing their joint innovation initiatives, with a specific focus on working on new marketplace-based technology to enhance programmatic transactions and inventory acquisition.

“The media industry has transformed over the past decade, and through our partnership with FreeWheel, we continue to show our customers that we are an industry leader,” said Kurt Rao, chief technology officer, TEGNA. “Agencies are relying on automation more than ever. With FreeWheel, we are able to process orders more quickly and more efficiently for our agency partners across our marketing and advertising solutions, including Premion.”

“Advertisers are seeking efficiencies and simplicity in the planning and buying of CTV/OTT campaigns and our FreeWheel partnership facilitates the automation of buyer workflows,” said Tom Cox, president of Premion. “We look forward to strengthening this relationship to provide brands and marketers with more convenience, control, and broader access to Premion’s premium OTT inventory via the FreeWheel Agency platform.”

“At FreeWheel, we pride ourselves on our ability to build more efficient and streamlined connections between buyers and sellers,” said Ian Banks, business development manager, FreeWheel. “Through our partnership, TEGNA and Premion are able to offer clients a completely automated and efficient experience from start to finish – including advanced capabilities like data-focused solutions. This is the future of our industry.”

About TEGNA

TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. With 64 television stations in 51 U.S. markets, TEGNA is the largest owner of top 4 network affiliates in the top 25 markets among independent station groups, reaching approximately 39 percent of all television households nationwide. TEGNA also owns leading multicast networks True Crime Network and Quest. TEGNA Marketing Solutions (TMS) offers innovative solutions to help businesses reach consumers across television, digital and over-the-top (OTT) platforms, including Premion, TEGNA’s OTT advertising service. For more information, visit www.TEGNA.com.

About FreeWheel

FreeWheel, A Comcast Company, empowers all segments of The New TV Ecosystem. We are structured to provide the full breadth of solutions the advertising industry needs to achieve their goals. We provide the technology, data enablement, and convergent marketplaces required to ensure buyers and sellers can transact across all screens, across all data types, and all sales channels, in order to ensure the ultimate goal – results for marketers.

With offices in New York, San Francisco, Chicago, London, Paris, Beijing, and across the globe, FreeWheel, A Comcast Company, stands to advocate for the entire industry through the FreeWheel Council for Premium Video. For more information, please visit freewheel.com, and follow us on Twitter and LinkedIn.

About Premion

Launched in 2016 by TEGNA Inc., Premion is an industry-leading premium CTV/OTT advertising platform for regional and local advertisers. Gray Television Inc. (NYSE: GTN) acquired a minority stake in Premion in 2020. With directly-sources inventory from 125+ premium publishers, Premion delivers transparency and brand safety, making it easy for advertisers to target and reach engaged audiences at scale. For more information, visit: www.premion.com.

TEGNA & Premion:

Anne Bentley

703-873-6266

[email protected]

FreeWheel:

Meredith Fitzgerald

215-970-8504

[email protected]

KEYWORDS: New York Virginia United States North America

INDUSTRY KEYWORDS: Marketing Advertising Communications Technology Software

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PIMCO, Man Group, IHS Markit, State Street, Microsoft and McKinsey Join Forces on New Asset Management Operating Platform

PIMCO, Man Group, IHS Markit, State Street, Microsoft and McKinsey Join Forces on New Asset Management Operating Platform

  • Greenfield cloud-based platform built by asset managers for asset managers to transform the industry’s operating model

LONDON–(BUSINESS WIRE)–
PIMCO, Man Group, IHS Markit, State Street, Microsoft and McKinsey & Company today announced the intention to form a new technology-led company, HUB, to build a cloud-based operating platform aimed at transforming asset managers’ operations technology.

The company selected Microsoft as its technology platform provider to empower HUB to develop its asset management operating platform on Microsoft Azure cloud.

HUB’s greenfield platform will be built by asset managers to transform the industry’s operating model by providing flexible and modular solutions across middle and back office functions, all while reducing cost and mitigating risks. The platform will accelerate the move to a digital operating model enabling asset managers to deliver innovative solutions to their clients both now and in the future.

HUB’s “data-first approach” will break down silos and friction between systems and data. This greenfield solution will utilize the latest cloud-based data technology and security to transform middle and back office operating processes, reducing costs associated with supporting numerous legacy systems and improving efficiencies by connecting to third parties.

Emmanuel Roman, CEO of PIMCO, said “Through this partnership, HUB will combine modern technology and infrastructure to streamline our middle and back office functions and feed data to every part of our business including distribution and analytics. This technology platform forms a core component of our broader strategy which combines technology with portfolio management and client service excellence to provide investors with investment solutions.”

Luke Ellis, CEO of Man Group, added “Man Group has invested heavily in developing our own proprietary technology infrastructure for many years now. Collaborating on this initiative with such great partners has allowed us to leverage our expertise with a view to helping transform the asset management industry’s operational architecture, which ultimately allows for better servicing of clients’ needs.”

Lance Uggla, Chairman and CEO of IHS Markit, commented “HUB represents a fantastic opportunity for the asset management industry to reimagine its operating model. With a greenfield approach to developing the platform, HUB will address many of the operational challenges facing asset managers today. We are excited to be part of this transformative joint venture that brings together the insights of our partners with IHS Markit’s commitment to enabling the success of the industry.”

Ron O’Hanley, Chairman and CEO of State Street, said “HUB promises to bring innovative solutions to important investment industry challenges. State Street is excited to partner with PIMCO, Man Group, IHS Markit, Microsoft and McKinsey and we are committed to supporting HUB with our Alpha and custody platforms.”

Judson Althoff, Executive Vice President of Microsoft’s Worldwide Commercial Business, commented “We are excited that HUB’s new asset management industry platform will be powered by Azure. By harnessing the Microsoft cloud with the HUB platform to deliver operational efficiencies to our clients, Microsoft continues to drive innovation in the broader capital markets industry ecosystem.”

Jared Moon, Senior Partner, McKinsey & Company, added “McKinsey is excited about the opportunity to bring industry insights on asset management and expertise from Leap by McKinsey, its business building practice to HUB. We believe this new platform for Asset Managers will create value for the industry and McKinsey is honored to be a partner in this venture to support the creation of HUB.”

Financial terms were not disclosed.

About HUB

HUB will be a new technology led company focused on providing flexible and modular infrastructure for asset managers’ middle and back office functions. HUB’s “data first approach” will break down silos and friction between systems and data by utilizing the latest cloud-based data technology and security. The platform will be designed and built in collaboration with PIMCO, Man Group, IHS Markit, State Street, Microsoft and McKinsey.

The HUB team comprises industry experts across data, technology and asset management, with strategic input and guidance from its partners. HUB will have its primary office in London.

IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2020 IHS Markit Ltd. All rights reserved.

Media:

HUB/ IHS Markit: Sebastian Kadritzke, Head of Corporate PR, London

+44 020 3159 3283 [email protected]

Pimco: Michael Reid, Global Head of Corporate Communications

D: +1 212.597.1301 [email protected]

Man Group: Georgiana Brunner, Head of Communications, Man Group

+ 44 (0) 7917 404108 [email protected]

KEYWORDS: United Kingdom Europe

INDUSTRY KEYWORDS: Professional Services Data Management Technology Finance Software Banking

MEDIA:

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Canadian insurtech APOLLO closes $13.5 million Series A financing round

Canada NewsWire

TORONTO, Jan. 7, 2021 /CNW/ – Apollo Insurance Solutions Ltd. (“APOLLO Insurance”) (TSXV: APLO Reserved), Canada’s leading online insurance company, announced today that it has closed an oversubscribed $13.5 million Series A financing round, far exceeding its original $4 million target. Gravitas Securities Inc. led the financing which resulted in a strong and diverse shareholder base that included Trisura Group Ltd. (TSX: TSU), an international specialty insurance provider operating in the surety, risk solutions, corporate insurance and reinsurance segments of the market, and Liberty Mutual Insurance, a Fortune 100 company that is the sixth largest global property and casualty insurer based on 2019 gross written premium.

Launched in April 2019, APOLLO now offers the largest selection of online insurance in Canada. The funds generated through the financing will be used to fuel APOLLO’s rapid expansion of insurance offerings to become the “everything store” for small business and personal insurance. Through thousands of digitally enhanced agents and embedded finance partnerships, APOLLO is redefining the distribution of insurance.

“We’ve created an entirely modern insurance purchasing experience — digital, instant, and paperless — in line with everything else in our daily lives,” said Jeff McCann, Founder and CEO of APOLLO. “Purchasing insurance the traditional way is a costly and time consuming burden for Canadian small business owners and individuals. APOLLO is changing that.”

This investment comes after a record 12 months of growth for APOLLO, and the recent appointments of Tracey Swain as Chief Financial Officer and Marco Andolfatto as Chief Underwriting Officer. Swain served as CFO for O2E Brands, a privately-held and parent company of 1-800-Got-Junk? founded out of Vancouver, BC. Previously, Swain served as Vice President of Internal Audit for Lululemon (NASDAQ: LULU) and was Vice President of Corporate Finance for Adidas (XTRA: ADS). Andolfatto was previously Chief Strategy Officer at Totten Insurance Group and Managing Director at Premier Insurance Managers, one of Canada’s leading wholesale insurance companies.

“Jeff is an incredible entrepreneur and leads an extraordinary team. Since inception, the company has reached and exceeded each milestone we set out to achieve over the past three years,” said Drew Green, Co-Founder and Chairman of the APOLLO Board of Directors. “I’m excited for the incredible growth ahead for APOLLO, and the insurtech industry.”

APOLLO’s proprietary technology platform, the APOLLO Exchange, transacts insurance business in real time, leverages extensive data and sophisticated algorithms to quote, collect payment, create and deliver policies. Thousands of types of small businesses and individuals are able to buy online without human intervention.

“APOLLO’s deep industry knowledge coupled with a growing demand for online insurance offerings makes it a very attractive opportunity in the Canadian investment landscape,” said Kia Besharat, Senior Managing Director & Head of Capital Markets Origination at Gravitas Securities Inc. “APOLLO is ready to scale its online insurance offerings for small business and personal insurance.”

About APOLLO Insurance

APOLLO is Canada’s leading online insurance company. Our proprietary platform, the APOLLO Exchange, allows insurance agents and their customers to purchase their policy immediately, from anywhere, on any device, 24/7. Unlike traditional paper-based processes, APOLLO leverages extensive data and sophisticated algorithms to quote, collect payment, and issue policies for thousands of types of small business and individuals without human intervention. Through traditional agents and embedded finance partnerships APOLLO is redefining the distribution of insurance.

For more information, visit: https://apollocover.com/.

About Gravitas Securities

Gravitas Securities Inc. (GSI) is a leading full service Investment Dealer providing customized Investment Banking services for all types of companies from offices in Toronto and Vancouver. Our mission is to offer our clients a better way of investment banking, based on long term client relationships, and focusing on quality advice. GSI is a member of the Investment Industry Regulatory Organization of Canada (IIROC), a Participating Organization of the TSX Venture Exchange, and a member of the Canadian Investor Protection Fund (CIPF).

For more information, visit: https://www.gravitassecurities.com/.

About Trisura Group

Trisura Group Ltd. is an international specialty insurance provider operating in the surety, risk solutions, corporate insurance and reinsurance segments of the market. Trisura has three principal regulated subsidiaries: Trisura Guarantee Insurance Company in Canada, Trisura Specialty Insurance Company in the US and Trisura International Insurance Ltd. in Barbados. Trisura Group is listed on the Toronto Stock Exchange under the symbol “TSU”.

Further information is available at http://www.trisura.com/group.

About Liberty Mutual Insurance

In business since 1912, and headquartered in Boston, today Liberty Mutual is the sixth largest global property and casualty insurer based on 2019 gross written premium. It also ranks 77th on the Fortune 100 list of largest corporations in the U.S. based on 2019 revenue. As of December 31, 2019, Liberty had $43.2 billion in annual consolidated revenue.

Liberty employs over 45,000 people in 29 countries and economies around the world. They offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety and commercial property.

For more information, visit www.libertymutualinsurance.com.

SOURCE Apollo Insurance Solutions Ltd.

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IBM Appoints Martin Schroeter as CEO of “NewCo” Independent Managed Infrastructure Services Business to Spin Out from IBM

PR Newswire

ARMONK, N.Y., Jan. 7, 2021 /PRNewswire/ — IBM (NYSE: IBM) today announced the appointment of Martin Schroeter as Chief Executive Officer of the independent company that will be created following the separation of IBM’s Managed Infrastructure Services business (“NewCo”), effective January 15.  NewCo will focus on the management and modernization of IT infrastructure in every industry around the world.  The previously announced separation is expected to occur by the end of 2021.

Mr. Schroeter served as IBM’s Senior Vice President, Global Markets, where he was responsible for IBM’s global sales, client relationships and satisfaction, and worldwide geographic operations, before leaving IBM in June 2020. Prior to that he was IBM’s Chief Financial Officer and has held a number of other executive roles at the company.

“Martin is a world-class leader and is uniquely qualified to drive the long-term success of the new, independent company,” said Arvind Krishna, Chairman and CEO of IBM. “He has a deep understanding of the industry and has earned the trust of our clients and of the investor community.  Martin has the strategic vision and business judgement to realize NewCo’s enormous potential as the global leader in managed infrastructure services. He is an inspiring, results-driven executive and the right CEO to lead NewCo through the spin-off process and beyond.”

“NewCo is a trusted partner to the world’s most global enterprises with a team that has the best skills and experience in the industry,” Schroeter said. “I look forward to developing a diverse ecosystem of partnerships and alliances, to continuing a deep relationship with IBM, and to the creation of market leading capabilities.”

Mr. Schroeter served as IBM’s Senior Vice President, Global Markets between December 2017 and April 2020. In that role, he had responsibility for IBM’s global sales, client relationships and satisfaction and worldwide geographic operations. He also oversaw IBM’s marketing and communications functions and was responsible for building the company’s brand and reputation globally. Mr. Schroeter was IBM’s CFO from 2014 to 2017, and prior to that, served as General Manager of IBM Global Financing, where he managed a total asset base in excess of $37 billion. Earlier in his IBM tenure, Mr. Schroeter served in numerous roles in Japan, the United States and Australia.  He joined IBM in 1992 after earning his Master of Business Administration degree from Carnegie Mellon University, and received his undergraduate degree in Economics and Finance from Temple University. He has dual citizenship in the United States and in Australia.

Contact: 
Jonathan Adashek
[email protected]
(914) 499-6606

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SOURCE IBM

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American Finance Trust Announces 95% Rent Collected In Fourth Quarter; Over $60 Million Of Fourth Quarter Acquisitions

PR Newswire

NEW YORK, Jan. 7, 2021 /PRNewswire/ — American Finance Trust, Inc. (Nasdaq: AFIN) (“AFIN” or the “Company”) announced today that it collected 95% of the original cash rent due for the fourth quarter of 2020 as of January 5, 2021, including 98% of the original cash rent due in the Company’s single-tenant portfolio. The Company also announced that it had acquired 35 properties for $61.3 million1 during the fourth quarter. Fourth quarter acquisitions consisted primarily of necessity retail assets and the acquisitions had a weighted-average cap rate2 of 9.2% and a weighted average remaining lease term3 of 9.4 years.

“As anticipated, we collected substantially all of the original cash rent due across the portfolio and marked another quarter of strong results” said Michael Weil, CEO of AFIN. “Our single-tenant portfolio remained excellent with 98% of rent collected while our multi-tenant portfolio improved to 87% during the quarter. We are also pleased to resume our acquisition program, closing on over $60 million of necessity and service-oriented retail assets in the fourth quarter, bringing our total 2020 acquisitions to $218 million1. The portfolio has been intentionally constructed and has performed brilliantly throughout a very challenging year.”

Acquisitions
During the fourth quarter, the Company acquired 35 properties for an aggregate contract purchase price of $61.3 million at a weighted-average cash cap rate4 of 8.6% and a weighted-average cap rate of 9.2% with a weighted average remaining lease term of 9.4 years. For the year ended December 31, 2020, the Company acquired 107 properties for an aggregate contract purchase price of $218.3 million at a weighted-average cash cap rate of 7.9% and a weighted-average cap rate of 8.6%.

About American Finance Trust, Inc.
American Finance Trust, Inc. (Nasdaq: AFIN) is a publicly traded real estate investment trust listed on the Nasdaq focused on acquiring and managing a diversified portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties in the U.S. Additional information about AFIN can be found on its website at www.americanfinancetrust.com.

Important Notice
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “should” or similar expressions indicate a forward-looking statement, although not all forward-looking statements include these words. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of AFIN’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of the ongoing global COVID-19 pandemic, including actions taken to contain or treat COVID-19, on AFIN, AFIN’s tenants and the global economy and financial markets and that the information about rent collections includes additional rent collected with respect to fourth quarter 2020 as compared to previously reported information due to ongoing collection efforts and fourth quarter rent collections may not be indicative of any future period, as well as those set forth in the Risk Factors section of AFIN’s most recent Annual Report on Form 10-K for the year ended December 31, 2019 filed on February 27, 2020, AFIN’s most recent Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020, filed on May 7, 2020, August 6, 2020, and November 5, 2020, respectively, and all other filings filed with the Securities and Exchange Commission after that date. Further, forward-looking statements speak only as of the date they are made, and AFIN undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law. 

  1. Represents the contract purchase price and excludes acquisition costs that are capitalized per GAAP.
  2. Weighted average capitalization rate is calculated by dividing the annualized straight-line rental income the property is expected to generate and the purchase price of the property. Weighted average capitalization rate is a rate of return on a real estate investment property based on the expected, annualized straight-line rental income that the property will generate under its existing lease. The weighted average capitalization rate is based upon square feet.
  3. The weighted average remaining lease term is based on rentable square feet as of the acquisition date.
  4. Cash capitalization rate is calculated by dividing the annualized cash rental income the property is expected to generate and the purchase price of the property. For acquisitions, cash capitalization rate is a rate of return on a real estate investment property based on the expected, annualized cash rental income during the first year of ownership that the property will generate under its existing lease. Weighted average cash capitalization rate is based upon square feet.

Contacts:
Investor Relations
[email protected]
(866) 902-0063 

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SOURCE American Finance Trust, Inc.

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HX Group Augments Underwriting with expert.ai

The Howden Group division, accredited by Lloyd’s and specialized in data analytics, has selected expert.ai for Insurance to enhance policy submissions review.

PR Newswire

LONDON, Jan. 7, 2021 /PRNewswire/ — HX, the data analytics and digital delivery business of Howden Group Holdings, announced a partnership with expert.ai to augment its data analytics services. By leveraging expert.ai for Insurance, HX is streamlining data extraction from historic and ongoing submissions to enhance policy analysis, as well as identify emerging risks, trends and signals to improve service and product innovation.

“We registered record demand across our services as the insurance market reacted to the pandemic, and we were already solidly positioned to advance digitalization,” said David Crompton, head of data assurance at HX. “Our offering distinguishes as it includes the most innovative, results-oriented solutions as those provided by expert.ai, which gave us an immediate competitive advantage over other less developed solutions in the market. Thanks to their unique NLU/NLP capabilities, we are able to augment data services for our clients whilst ensuring tangible ROI and business outcomes.”

Augmented underwriting provided by expert.ai is aligned with HX’s mission to help insurers, re-insurers, corporates and brokers maximize their resources and unlock new opportunities with superior data insights.

Expert.ai for Insurance automates the reading and analysis of contracts by leveraging natural language understanding (NLU) to deeply comprehend the meaning of words in context, as a senior underwriter would do, but at scale. In doing so, it streamlines the extraction of key policy parameters from historical submissions available on Lloyd’s marketplace.

To make the reach of the parameter extraction easier and faster, as well as more accurate and complete, more than 70 different concepts have been identified, enabling HX clients to gain a competitive advantage by easily accessing new insight and trends, product personalization and risks signals.

“In the insurance industry, the COVID-19 pandemic has accelerated the need to develop a more sustainable, customer-centric approach. Artificial intelligence is proving to be a key enabler in the evolution from ‘detect and repair’ to ‘predict and prevent,” said Ian McLoughlin, expert.aibusiness development executive. “We are honored that HX has selected expert.ai to optimize its data analytics and delivery costs optimization for underwriting.”

About HX

HX is the data, analytics and advisory division of Howden Group Holdings, a London-based, employee-owned insurance group, founded in 1994. The Group, that comprises also Howden Broking and underwriting business DUAL, operates across Europe, Africa, Asia, the Middle East, Latin America, the USA, Australia and New Zealand.

For more information about HX visit https://www.hxinsurtech.com/

About expert.ai

Expert.ai is the premier artificial intelligence platform for language understanding. Its unique hybrid approach to NL combines symbolic human-like comprehension and machine learning to transform language-intensive processes into practical knowledge, providing the insight required to improve decision making throughout organizations. By offering a full range of on-premise, private and public cloud offerings, expert.ai augments business operations, accelerates and scales data science capabilities and simplifies AI adoption across a vast range of industries including Insurance, Banking & Finance, Publishing & Media, Defense & Intelligence, Life Science & Pharma, Oil Gas & Energy, and more. The expert.ai brand is owned by Expert System (EXSY:MIL), that has cemented itself at the forefront of natural language solutions, and serves global businesses such as AXA XL, Lloyd’s of London, Zurich Insurance Group, Generali, Bloomberg BNA, BNP Paribas, Rabobank, Dow Jones, Gannett, IMF and EBSCO.

For more information visit  www.expert.ai

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SOURCE expert.ai

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Patterson-UTI Energy Announces Fourth Quarter Earnings Conference Call and Webcast

PR Newswire

HOUSTON, Jan. 7, 2021 /PRNewswire/ — PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) will hold a conference call on Thursday, February 4, 2021, at 9:00 a.m. Central Time to discuss results for the fourth quarter ended December 31, 2020. 

Participants can access the call by dialing (647) 253-8640 or (844) 494-0002 with the Conference ID 3995753.  The call will also be webcast and can be accessed through a link in the Investors section of the Company’s website at investor.patenergy.com.  A replay of the conference call will be available on the Company’s website for two weeks. 

About Patterson-UTI
Patterson-UTI is a leading provider of oilfield services and products to oil and natural gas exploration and production companies in the United States, including contract drilling, pressure pumping and directional drilling services.  For more information, visit www.patenergy.com.  

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SOURCE PATTERSON-UTI ENERGY, INC.

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Global Net Lease Announces 97% Of Fourth Quarter Rent Collected; Approximately $290 Million Of Acquisitions During Quarter

PR Newswire

NEW YORK, Jan. 7, 2021 /PRNewswire/ — Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) announced today that it collected 97% of the original cash rent due for the fourth quarter of 2020 as of January 6, 2021. The Company also announced it had acquired seven properties for approximately $290 million during the fourth quarter. Fourth quarter acquisitions consisted primarily of industrial assets located in the United States and had a weighted average cap rate1 of 7.2% and weighted average remaining lease term of 9.6 years.

“We are very pleased with the resiliency GNL’s portfolio showed throughout 2020, despite a challenging year” said James Nelson, CEO of GNL. “The mission-critical nature of our assets, strong underlying credit quality of our tenants and the rigorous underwriting and acquisitions standards we adhere to have allowed us to build a best-in-class portfolio that has performed exceptionally well while continuing to find and acquire high-quality, accretive properties that will extend GNL’s portfolio growth.”

Acquisitions
During the fourth quarter, the Company acquired seven properties for an aggregate contract purchase price of $292.8 million at a going-in cap rate2 of 6.5% and a weighted-average cap rate of 7.2% with an average remaining lease term of 9.6 years, weighted based on square feet, as of the closing dates. For the year ended December 31, 2020, the Company acquired 28 properties for a contract purchase price of $461.2 million at a going-in cap rate of 6.84% and a weighted-average cap rate of 7.92%.

About Global Net Lease, Inc.
Global Net Lease, Inc. (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com.

Important Notice
The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. The words “anticipates,” “believes,” “expects,” “estimates,” “projects,” “plans,” “intends,” “may,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of the ongoing global COVID-19 pandemic, including actions taken to contain or treat the COVID-19, on the Company, the Company’s tenants and the global economy and financial markets and that the information about fourth quarter 2020 rent collections includes additional rent collected with respect to fourth quarter 2020 as compared to previously reported information due to ongoing collection efforts and fourth quarter rent collections may not be indicative of any future period, as well as those risks and uncertainties set forth in the Risk Factors section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 filed on February 28, 2020, the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 filed on May 7, 2020, GNL’s Quarterly Report on Form10-Q for the quarter ended June 30, 2020 filed on August 6, 2020, and all other filings with the SEC after that date, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results, unless required to do so by law.

1.


Capitalization rate is a rate of return on a real estate investment property based on the expected, annualized straight-line rental income that the property will generate under its existing lease. Capitalization rate is calculated by dividing the average annualized straight-line rental income the property will generate (before debt service and depreciation and after fixed costs and variable costs) and the purchase price of the property. The weighted average capitalization rate is based upon square feet.

2.


Going-in capitalization rate is a rate of return on a real estate investment property based on the expected, cash rental income that the property will generate under its existing lease during the first year of the lease. Going-in capitalization rate is calculated by dividing the cash rental income the property will generate during the first year of the lease (before debt service and depreciation and after fixed costs and variable costs) and the purchase price of the property. The weighted average going-in capitalization rate is based upon square feet of the date of acquisition.

Contacts:

Investors and Media:
Email: [email protected]
Phone: (212) 415-6510

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SOURCE Global Net Lease, Inc.