Posts

Posted on

Gibson Energy Announces Closing of $250 Million Hybrid Note Offering

All financial figures are in Canadian dollars unless otherwise noted

CALGARY, Alberta, Dec. 22, 2020 (GLOBE NEWSWIRE) — Gibson Energy Inc. announced today that it has closed the previously announced offering of $250 million of 5.25% fixed-to-fixed rate subordinated notes due December 22, 2080 (the “Offering”).

Gibson intends to use the net proceeds from the Offering to fund the previously announced redemption of the 5.25% convertible unsecured debentures due July 15, 2021, to reduce outstanding indebtedness under its revolving credit facility and for general corporate purposes.

The notes were offered through a syndicate of investment dealers led by CIBC Capital Markets and RBC Capital Markets under Gibson’s short form base shelf prospectus dated June 26, 2019 and a related prospectus supplement dated December 9, 2020.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The notes have not been approved or disapproved by any regulatory authority. The notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any securities laws of any state of the United States and may not be offered, sold or delivered in the United States or to, or for the account or benefit of, United States persons.

About Gibson

Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI) is a Canadian-based oil infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of crude oil and refined products. Headquartered in Calgary, Alberta, the Company’s operations are focused around its core terminal assets located at Hardisty and Edmonton, Alberta, and also include the Moose Jaw Facility and an infrastructure position in the U.S.

Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsonenergy.com. 

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”) including, but not limited to, statements concerning the use of proceeds from the Offering. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “anticipate”, “plan”, “contemplate”, “continue”, “estimate”, “expect”, “intend”, “propose”, “might”, “may”, “will”, “shall”, “project”, “should’’, “could”, “would”, “believe”, “predict”, “forecast”, “pursue”, “potential” and “capable’’ and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In addition, this news release may contain forward-looking statements and forward-looking information attributed to third party industry sources. The Company does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, the risks and uncertainties described in “Forward-Looking Statements” and “Risk Factors” included in the Company’s Annual Information Form dated February 24, 2020 as filed on SEDAR and available on the Gibson website at www.gibsonenergy.com.

For further information, please contact:

Mark Chyc-Cies
Vice President, Strategy, Planning & Investor Relations
Phone: (403) 776-3146
Email: [email protected]



Posted on

IIROC Trading Halt – LBC

Canada NewsWire

VANCOUVER, BC, Dec. 22, 2020 /CNW/ – The following issues have been halted by IIROC:

Company: Libero Copper & Gold Corporation

TSX-Venture Symbol: LBC

All Issues: No

Reason: At the Request of the Company Pending News

Halt Time (ET): 8:40 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

Posted on

Neogen reports second quarter results

PR Newswire

LANSING, Mich., Dec. 22, 2020 /PRNewswire/ — Neogen Corporation (NASDAQ: NEOG) announced today that revenues for the second quarter of its 2021 fiscal year, which ended Nov. 30, were $115,000,000, a 7% increase compared to the previous year’s second quarter revenues of $107,803,000. Current year-to-date revenues were $224,325,000, also an increase of 7%, compared to $209,227,000 for the same period a year ago.

Second quarter net income was $15,885,000, or $0.30 per share, compared to the prior year’s $16,276,000, or $0.31 per share. Current year-to-date net income was $31,745,000, or $0.60 per share, compared to $30,928,000, or $0.59 per share, for the same period a year ago.

“We are pleased to report growth across our business during the quarter, even as we continue to fight global market disruptions caused by the resurgent COVID-19 pandemic. We recorded a strong 13% sales increase in our animal safety segment, while also reporting significant sales increases in our new food safety product offerings,” said John Adent, Neogen’s president and chief executive officer. “While much uncertainty remains, we are seeing indications that we are on the road to recovery, with successful new product launches, and strong sales increases across our diverse product portfolio in countries now less affected by COVID, including China and Australia.”

Neogen’s gross margin was 46.3% of sales in its second quarter of the current year, compared to 47.3% recorded in the same quarter of the prior fiscal year. The change in margin percentage was the result of a product mix shift towards Animal Safety products, which have lower margins. Sales of food safety products continued to be adversely affected by the COVID-19 global pandemic.

During the quarter, the company incurred nearly $1 million in expenses for strategic consulting, due diligence and other professional fees, the result of acquisition activities that were ultimately not completed; these non-recurring expenses reduced earnings by approximately $0.02 per share. Operating income was $19,245,000, or 16.7% of sales, for the second quarter, compared to $18,272,000, or 16.9%, in the same quarter a year ago. Interest income declined $716,000 from last year’s second quarter, due primarily to the precipitous drop in interest rates on our marketable securities. 

“We continue to proactively address issues associated with the ongoing difficult operating environment, including strengthening our global supply chain and adequately staffing our worldwide operations,” said Steve Quinlan, Neogen’s chief financial officer. “Although currency headwinds resulted in comparative revenues being reduced by approximately $1.2 million during the quarter, entirely in the Food Safety segment, this is an improvement over the first quarter as the U.S. dollar has recently weakened somewhat against a number of currencies in countries where we do business.”

Revenues for the company’s Food Safety segment increased 1% during the second quarter compared to the prior year quarter, from $56,854,000 to $57,534,000. The segment’s performance benefitted from a 13% increase in sales of its Soleris® microbial testing system compared to the prior year quarter. In July 2020, Neogen launched its Soleris Next Generation (NG) system that can rapidly detect a wide variety of microorganisms that threaten the safety and quality of food and other consumer products, and it has gained robust initial market acceptance. The current quarter also featured a 6% increase in sales of the company’s Listeria Right Now™ test system, which detects and reports bacteria in environmental samples in under 60 minutes — without the need to enrich samples. The segment’s sales performance was also aided by new sales from recently acquired businesses in Italy, Argentina, Uruguay, and Chile. These increases were offset by flat sales growth of its natural toxins and food allergen product lines, and reductions in sales of foodborne pathogen (8%), general sanitation (8%) and culture media (3%) products, all caused in part by COVID-19-related disruptions in many of the company’s end markets.

Neogen’s Animal Safety segment reported revenues of $57,466,000 for the second quarter of the 2021 fiscal year, compared to $50,949,000 in the prior year second quarter — an increase of 13%. This increase was driven by continued new sales of cleaners and disinfectants used to fight the spread of COVID-19; a 24% increase in sales of rodenticides as the U.S. Pacific Northwest continues to fight rodent pressure; and large increases in sales of genomic testing services, insecticides (aided by the July 2020 acquisition of Elanco’s StandGuard® product), animal care products, and needles and syringes — when compared to the prior year’s second quarter, as animal protein markets gained strength.

International highlights for the current quarter included a 59% increase in sales at Neogen China, including significant increases in sales of disinfectants and genomic products as the nation recovers from its COVID-19 and African swine fever outbreaks, and a 13% increase in Mexico and Central America driven by sales increases in cleaners and disinfectants, rodenticides, detectable needles, and genomics. Neogen Australasia’s quarterly revenue increased 81%, including strong sales gains for genomic and animal safety products, as well as new sales from the March 2020 acquisition of a former distributor of Neogen’s food safety products. Neogen’s sales in the current quarter also increased 9% at our U.K. operations, led by strength in sales of cleaners and disinfectants, and 5% in India. Revenues declined 22% in Brazil, as a large, one-time sale of insecticides in the prior year quarter did not recur, and as the result of adverse currency impact due to the 25% devaluation of the real against the dollar.

Revenues from Neogen’s worldwide animal genomics business increased 12% in the second quarter of fiscal 2021 compared to the prior year, led by increases in companion animal genomic testing due to a surge in COVID-19-related pet adoptions and continued penetration into the veterinary markets, and testing through beef and dairy breed associations. Internationally, Neogen’s genomic sales increased in Australia (mainly bovine and canine), China (dairy cattle and porcine as the country recovers from an outbreak in African swine fever), and Latin America (dairy cattle). Neogen recently launched Igenity® Canine Wellness, a preventative care DNA screening tool.

Neogen Corporation develops and markets products dedicated to food and animal safety. The company’s Food Safety Division markets dehydrated culture media and diagnostic test kits to detect foodborne bacteria, natural toxins, food allergens, drug residues, plant diseases and sanitation concerns. Neogen’s Animal Safety Division is a leader in worldwide biosecurity products, animal genomics testing, and the manufacturing and distribution of a variety of animal healthcare products, including diagnostics, pharmaceuticals and veterinary instruments.

Certain portions of this news release that do not relate to historical financial information constitute forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties. Actual future results and trends may differ materially from historical results or those expected depending on a variety of factors listed in Management’s Discussion and Analysis of Financial Condition and Results of Operations in the company’s most recently filed Form 10-K.

 


NEOGEN CORPORATION UNAUDITED SUMMARIZED CONSOLIDATED OPERATING DATA

(In thousands, except for per share and percentages)


Quarter ended Nov. 30


Six months ended Nov. 30


2020


2019


2020


2019

Revenue

Food Safety

$

57,534

$

56,854

$

111,719

$

107,876

Animal Safety


57,466


50,949


112,606


101,351


Total revenue


115,000


107,803


224,325


209,227

Cost of sales


61,786


56,777


120,809


110,007

Gross margin

53,214

51,026

103,516

99,220

Operating expenses

Sales & marketing

17,729

17,988

34,245

35,531

Administrative

12,184

10,985

23,197

21,684

Research & development


4,056


3,781


7,934


7,469

Total operating expenses


33,969


32,754


65,376


64,684

Operating income

19,245

18,272

38,140

34,536

Other income


90


954


1,005


2,342

Income before tax

19,335

19,226

39,145

36,878

Income tax


3,450


2,950


7,400


5,950


Net income


$


15,885


$


16,276


$


31,745


$


30,928


Net income per diluted share


$


0.30


$


0.31


$


0.60


$


0.59

Other information:

Shares to calculate per share

53,404

52,876

53,300

52,712

Depreciation & amortization

$

4,803

$

4,548

$

9,523

$

8,985

Interest income

555

1,271

1,277

2,781

Gross margin (% of sales)

46.3%

47.3%

46.1%

47.4%

Operating income (% of sales)

16.7%

16.9%

17.0%

16.5%

Revenue vs. FY 2020

6.7%

7.2%

Net income vs. FY 2020

-2.4%

2.6%

 


NEOGEN CORPORATION UNAUDITED SUMMARIZED CONSOLIDATED BALANCE SHEET DATA

(In thousands)


Nov. 30


May 31



2020



2020


Assets

Current assets

Cash & investments

$

390,765

$

343,673

Accounts receivable

79,931

84,681

Inventory

92,529

95,053

Other current assets


15,201


13,999

Total current assets

578,426

537,406

Property & equipment, net

83,774

78,671

Goodwill & other assets


183,426


181,105

Total assets

$

845,626

$

797,182


Liabilities & Equity

Current liabilities

$

44,587

$

48,489

Non-current liabilities

23,644

23,516

Equity: Shares outstanding
     
53,244 at Nov. 30 & 52,946 at May 31

 


777,395

 


725,177

Total liabilities & equity

$

845,626

$

797,182

 


CONTACT: 


Steve Quinlan, CFO


Neogen Corporation, 517/372-9200

 

Cision View original content:http://www.prnewswire.com/news-releases/neogen-reports-second-quarter-results-301197509.html

SOURCE Neogen Corporation

Posted on

Ocular Therapeutix™ Announces Submission to the FDA of a Supplemental New Drug Application for DEXTENZA® (dexamethasone ophthalmic insert) for the Treatment of Ocular Itching Associated with Allergic Conjunctivitis

Ocular Therapeutix™ Announces Submission to the FDA of a Supplemental New Drug Application for DEXTENZA® (dexamethasone ophthalmic insert) for the Treatment of Ocular Itching Associated with Allergic Conjunctivitis

PDUFA Target Action Date Anticipated for October 2021

BEDFORD, Mass.–(BUSINESS WIRE)–
Ocular Therapeutix, Inc. (NASDAQ:OCUL), a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, today announced the submission of the supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) for DEXTENZA® (dexamethasone ophthalmic insert) 0.4 mg for intracanalicular use. If approved, this sNDA would include the treatment of ocular itching associated with allergic conjunctivitis as an additional approved indication of DEXTENZA.

“We are excited to share the allergic conjunctivitis data with the FDA and feel this sNDA supports an expanded label. If approved, the sNDA would reflect the second expansion of the DEXTENZA label and would include the first indication for DEXTENZA treated primarily in the ophthalmology office setting,” said Antony Mattessich, President and Chief Executive Officer of Ocular Therapeutix. “It is estimated that up to 10 million1,2,3 people in the U.S. annually seek medical attention for the inflammatory response associated with allergic conjunctivitis caused by both seasonal and perennial allergens, representing a discrete and significant potential market for DEXTENZA beyond its current use in the surgical setting. From a business perspective, ocular itching associated with allergic conjunctivitis is our first potential indication in the treatment of an ocular surface disease, paving the way for our two Phase 2 clinical programs in the treatment of dry-eye disease.”

The efficacy of DEXTENZA for the treatment of ocular itching was evaluated in four vehicle-controlled clinical trials for subjects with a positive history of ocular allergies and positive skin test reaction to perennial and seasonal allergens (n=323). The sNDA offers data that Ocular believes supports that DEXTENZA demonstrated superiority to placebo vehicle for the treatment of ocular itching due to allergic conjunctivitis as evidenced by statistically significant differences in a pooled analysis of three well controlled Phase 3 clinical trials as well as in the Phase 2 clinical trial. At the primary endpoint for the pooled analysis of the three Phase 3 clinical trials (Day 8), ocular itching scores favored DEXTENZA treated subjects compared with placebo vehicle treated subjects at all three timepoints: 3 min (1.85 vs 2.55, p value = <0.0001 ), 5 min (1.90 vs 2.63, p value = <0.0001 ) and 7 min (1.84 vs 2.61, p value = <0.0001 ). In addition, it is submitted that treatment with DEXTENZA consistently resulted in lower ocular mean itching scores relative to placebo vehicle at all other study visits throughout the duration of the respective studies.

DEXTENZA was observed to have a favorable safety profile and be generally well-tolerated in the allergic conjunctivitis, ocular inflammation and pain clinical program populations. The most common ocular adverse events seen in the pooled analysis of the allergic conjunctivitis studies were: increased intraocular pressure (n=6), increased lacrimation (n=2), eye discharge (n=2) and reduced visual acuity (n=2). The most common non-ocular adverse events seen were: headache (n=2), nasopharyngitis (n=1), gastroenteritis viral (n=1), dermatitis contact (n=1), and oropharyngeal pain (n=1).

“The use of topical steroids is an important part of the clinical armamentarium in the treatment of a patient with allergic conjunctivitis,” said Michael Goldstein, MD, MBA, Chief Medical Officer of Ocular Therapeutix. “As DEXTENZA is physician-administered and can’t be overused by patients, it provides a potentially safer method of steroid delivery. In addition, unlike current therapeutic options, DEXTENZA is a preservative-free steroid which may be a benefit for patients with allergic conjunctivitis who already have a compromised ocular surface.“

The Company has received acceptance of the sNDA submission to the FDA and anticipates a target action data under the Prescription Drug User Fee Act, commonly known as PDUFA, in October of 2021.

About DEXTENZA

DEXTENZA is FDA approved for the treatment of ocular inflammation and pain following ophthalmic surgery. DEXTENZA is a corticosteroid intracanalicular insert placed in the punctum, a natural opening in the inner portion of the lower eyelid, and into the canaliculus and is designed to deliver dexamethasone to the ocular surface for up to 30 days without preservatives. DEXTENZA resorbs and exits the nasolacrimal system without the need for removal.

The safety of DEXTENZA was assessed in three Phase 3 clinical trials and a Phase 2 clinical trial evaluating DEXTENZA for the treatment of post-surgical inflammation and pain of the eye prior to its approval. Overall, 567 subjects were exposed to DEXTENZA in such clinical trials. The most common ocular adverse reactions in subjects treated with DEXTENZA were: anterior chamber inflammation including iritis and iridocyclitis (10%), increased intraocular pressure (6%), reduced visual acuity (2%), cystoid macular edema (1%), corneal edema (1%), eye pain (1%), and conjunctival hyperemia (1%). The most common non-ocular adverse event was headache (1%).

Please see Important Safety Information and full Prescribing Information at www.DEXTENZA.com.

About Ocular Therapeutix, Inc.

Ocular Therapeutix, Inc. is a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye using its proprietary bioresorbable hydrogel-based formulation technology. Ocular Therapeutix’s first commercial drug product, DEXTENZA, is FDA-approved for the treatment of ocular inflammation and pain following ophthalmic surgery. Ocular Therapeutix has completed Phase 3 clinical trials evaluating DEXTENZA for the treatment of ocular itching associated with allergic conjunctivitis. Ocular Therapeutix’s earlier stage development assets currently in Phase 1 clinical trials include OTX-TIC (travoprost intracameral implant) for the reduction of intraocular pressure in patients with primary open-angle glaucoma or ocular hypertension and OTX-TKI (axitinib intravitreal implant) for the treatment of wet AMD and other retinal diseases. Ocular Therapeutix is currently evaluating OTX-CSI (cyclosporine intracanalicular insert) for the chronic treatment of dry eye disease in a Phase 2 clinical trial. Also, Ocular Therapeutix is currently developing OTX-DED (dexamethasone intracanalicular insert) for the short-term treatment of the signs and symptoms of dry eye disease and, in collaboration with Regeneron, OTX-AFS (aflibercept suprachoroidal injection) as an extended-delivery formulation of aflibercept for the treatment of retinal diseases. Ocular Therapeutix’s first product, ReSure® Sealant, is an FDA-approved device to seal corneal incisions following cataract surgery.

1 Leonardi A, Castegnaro A, Valerio ALG, Lazzarini D. Epidemiology of allergic conjunctivitis: clinical appearance and treatment patterns in a population-based study. Curr Opin Allergy Clin Immunol. 2015;15(5):482-488.

2 Rosario N, Bielory L. Epidemiology of allergic conjunctivitis. Curr Opin Allergy Clin Immunol. 2011;11(5):471-476

3 Ora website, An Update on Ocular Allergy Trends, 2019 Ora, Inc., www.oraclinical.com

Forward Looking Statements

Any statements in this press release about future expectations, plans, and prospects for the Company, including the commercialization of DEXTENZA®, ReSure® Sealant, or any of the Company’s product candidates; the commercial launch of, and effectiveness of reimbursement codes for, DEXTENZA; the conduct of post-approval studies of DEXTENZA; the development and regulatory status of the Company’s product candidates, such as the Company’s development of and prospects for approvability of DEXTENZA for additional indications including allergic conjunctivitis, OTX-DED for the short-term treatment of the signs and symptoms of dry eye disease, OTX-CSI for the chronic treatment of dry eye disease, OTX-TIC for the treatment of primary open-angle glaucoma or ocular hypertension, OTX-TKI for the treatment of retinal diseases including wet AMD, and OTX-AFS as an extended-delivery formulation of the VEGF trap aflibercept for the treatment of retinal diseases including wet AMD; the potential receipt of a target action date under PDUFA; the ongoing development of the Company’s extended-delivery hydrogel depot technology; the size of potential markets for our product candidates; the potential utility of any of the Company’s product candidates; the potential benefits and future operation of the collaboration with Regeneron Pharmaceuticals, including any potential future payments thereunder; projected net product revenue and other financial metrics of DEXTENZA; the expected impact of the COVID-19 pandemic on the Company and its operations; the sufficiency of the Company’s cash resources and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend”, “goal,” “may”, “might,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Such forward-looking statements involve substantial risks and uncertainties that could cause the Company’s clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the timing and costs involved in commercializing DEXTENZA, ReSure Sealant or any product candidate that receives regulatory approval, including the conduct of post-approval studies, the ability to retain regulatory approval of DEXTENZA, ReSure Sealant or any product candidate that receives regulatory approval, the ability to maintain reimbursement codes for DEXTENZA, the initiation, timing and conduct of clinical trials, availability of data from clinical trials and expectations for regulatory submissions and approvals, the Company’s scientific approach and general development progress, the availability or commercial potential of the Company’s product candidates, the Company’s ability to generate its projected net product revenue on the timeline expected, if at all, the sufficiency of cash resources, the Company’s existing indebtedness, the ability of the Company’s creditors to accelerate the maturity of such indebtedness upon the occurrence of certain events of default, the outcome of the Company’s ongoing legal proceedings, the severity and duration of the COVID-19 pandemic including its effect on the Company’s and relevant regulatory authorities’ operations, the need for additional financing or other actions and other factors discussed in the “Risk Factors” section contained in the Company’s quarterly and annual reports on file with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so except as required by law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

Investors

Ocular Therapeutix

Donald Notman

Chief Financial Officer

[email protected]

or

Westwicke, an ICR Company

Chris Brinzey, 339-970-2843

Managing Director

[email protected]

Media

Ocular Therapeutix

Scott Corning

Senior Vice President, Commercial

[email protected]

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Science Biotechnology Research Pharmaceutical Optical Health FDA Clinical Trials

MEDIA:

Logo
Logo
Posted on

Mango Accelerates United States Expansion in 2021

PR Newswire

INDIANAPOLIS, Dec. 22, 2020 /PRNewswire/ — Simon announced its collaboration with Mango and their expansion strategy in the United States with the opening of new stores in 2021 that will feature an assortment of Women’s, Men’s and Kid’s collections.

Mango and Simon are collaborating to open three stores in the first quarter at Roosevelt Field, Menlo Park Mall and Dadeland Mall. These centers were strategically selected in the United States to jumpstart the expansion of Mango’s Mediterranean brand to the American consumer.

“Mango has been focused on enhancing brand recognition in the United States with investments in wholesale and e-commerce distribution,” said Daniel López, Mango’s Director of Expansion and Franchises. “The next logical step is acceleration of our physical presence, which will materialize with our Simon openings.”

“We are excited to introduce Mango to our millions of discerning customers,” said Zachary Beloff, National Director of Business Developmental, Simon. “Mango is a globally renowned brand that we believe has a strong brick-and-mortar future in the United States.”

Mango’s commitment to the United States market, where the brand has had a consistent presence since 2006, was reinforced in 2017 with the New York’s Broadway SoHo store renovation; in the 2019 wholesale launch in select Macy’s flagship stores and direct-to-consumer e-commerce launch.

About Simon

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

Forward Looking Statements
Certain statements made in this press release may be deemed “forward–looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward–looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be attained, and it is possible that the Company’s actual results may differ materially from those indicated by these forward–looking statements due to a variety of risks, uncertainties and other factors. Such factors include, but are not limited to: uncertainties regarding the impact of the COVID-19 pandemic and governmental restrictions intended to prevent its spread on our tenants’ businesses, financial condition, results of operations, cash flow and liquidity and our ability to access the capital markets, satisfy our debt service obligations and make distributions to our stockholders; the inability to collect rent due to the bankruptcy or insolvency of tenants or otherwise; changes in economic and market conditions that may adversely affect the general retail environment; the intensely competitive market environment in the retail industry; changes to applicable laws or regulations or the interpretation thereof; risks associated with the acquisition, development, redevelopment, expansion, leasing and management of properties; the inability to lease newly developed properties and renew leases and relet space at existing properties on favorable terms; the potential loss of anchor stores or major tenants; decreases in market rental rates; the impact of our substantial indebtedness on our future operations; any disruption in the financial markets that may adversely affect our ability to access capital for growth and satisfy our ongoing debt service requirements; any change in our credit rating; changes in market rates of interest and foreign exchange rates for foreign currencies; general risks related to real estate investments, including the illiquidity of real estate investments; security breaches that could compromise our information technology or infrastructure; risks relating to our joint venture properties; our continued ability to maintain our status as a REIT; changes in tax laws or regulations that result in adverse tax consequences; changes in the value of our investments in foreign entities; our ability to hedge interest rate and currency risk; changes in insurance costs; the availability of comprehensive insurance coverage; natural disasters; the potential for terrorist activities; environmental liabilities; the loss of key management personnel; and the transition of LIBOR to an alternative reference rate. The Company discusses these and other risks and uncertainties under the heading “Risk Factors” in its annual and quarterly periodic reports filed with the SEC.  The Company may update that discussion in subsequent other periodic reports, but except as required by law, the Company undertakes no duty or obligation to update or revise these forward-looking statements, whether as a result of new information, future developments, or otherwise.

About Mango
Mango was founded in 1984 and is today one of the leading fashion groups in the world. Based in its city of origin, Barcelona, the company has an extensive store network of 803,000 m2 in 110 countries. From its “El Hangar” Design Centre in Palau-solità i Plegamans, every year it designs more than 18,000 garments and accessories for wearing the season’s trends. The company closed 2019 with sales of 2.374 billion euros, of which 24% corresponded to e-commerce. More information at www.mango.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/mango-accelerates-united-states-expansion-in-2021-301197544.html

SOURCE Simon

Posted on

Transphorm Announces Pricing of $15 Million Private Placement of Common Stock

Transphorm Announces Pricing of $15 Million Private Placement of Common Stock

GOLETA, Calif.–(BUSINESS WIRE)–Transphorm, Inc. (OTCQB: TGAN)—a pioneer in and global supplier of high reliability, high performance gallium nitride (GaN) power conversion products—today announced the pricing of a private placement of 5,000,000 shares of its common stock at a price of $3.00 per share, for expected gross proceeds to Transphorm of $15.0 million, before deducting placement agent commissions, financial advisor fees and other offering expenses.

The closing of the private placement is expected to occur on or about December 22, 2020, subject to the satisfaction of customary closing conditions. Transphorm intends to utilize the net proceeds to scale the continued ramp of new design-ins and volume shipments of GaN products for the fast charging power adapter, server, power supply and other markets, expanded sampling and qualification of products for EV automotive applications, growth of its epi wafer business as well as working capital to support general operations.

The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state or other jurisdiction’s securities laws, and may not be resold absent registration under, or exemption from registration under, the Securities Act. Transphorm has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock to be issued and sold in the private placement within 30 days of the closing of the private placement.

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

Loop Capital Markets LLC and Spartan Capital Securities, LLC acted as placement agents for the private placement. B. Riley Securities, Inc. and Craig-Hallum Capital Group LLC acted as financial advisors for the private placement.

About Transphorm

Transphorm, Inc., a global leader in the GaN revolution, designs and manufactures high performance and high reliability GaN semiconductors for high voltage power conversion applications. Having one of the largest Power GaN IP portfolios of more than 1,000 owned or licensed patents, Transphorm produces the industry’s first JEDEC and AEC-Q101 qualified high voltage GaN semiconductor devices. The Company’s vertically integrated device business model allows for innovation at every development stage: design, fabrication, device, and application support. Transphorm’s innovations are moving power electronics beyond the limitations of silicon to achieve over 99% efficiency, 40% more power density and 20% lower system cost. Transphorm is headquartered in Goleta, California and has manufacturing operations in Goleta and Aizu, Japan. For more information, please visit www.transphormusa.com. Follow us on Twitter @transphormusa.

Forward-Looking Statements

All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company’s expectations regarding the expected gross proceeds from, and the timing of the expected closing of, the private placement. These statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.

Investor Contacts:

Shelton Group

Brett Perry | Leanne Sievers

1-214-272-0070 | 1-949-224-3874

[email protected]

Company Contact:

Cameron McAulay

Chief Financial Officer

1-805-456-1300 ext. 140

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Electronic Design Automation Semiconductor Data Management Technology Networks Hardware

MEDIA:

Logo
Logo
Posted on

Thinking about buying stock in Sportsman’s Warehouse, FireEye, Fubotv, Anixa Biosciences, or Velodyne Lidar?

PR Newswire

NEW YORK, Dec. 22, 2020 /PRNewswire/ — InvestorsObserver issues critical PriceWatch Alerts for SPWH, FEYE, FUBO, ANIX, and VLDR.

To see how InvestorsObserver’s proprietary scoring system rates these stocks, view the InvestorsObserver’s PriceWatch Alert by selecting the corresponding link.

(Note: You may have to copy this link into your browser then press the [ENTER] key.)

InvestorsObserver’s PriceWatch Alerts are based on our proprietary scoring methodology. Each stock is evaluated based on short-term technical, long-term technical and fundamental factors. Each of those scores is then combined into an overall score that determines a stock’s overall suitability for investment.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/thinking-about-buying-stock-in-sportsmans-warehouse-fireeye-fubotv-anixa-biosciences-or-velodyne-lidar-301197530.html

SOURCE InvestorsObserver

Posted on

SinglePoint Inc. Improves Balance Sheet by Eliminating Convertible Secured Note Agreement

-Company removes derivative debt liability associated with previous financing agreement

-Well positioned to execute on strategic plan to drive near term and long-term growth with the ultimate goal of qualifying for a national exchange

PR Newswire

PHOENIX, Dec. 22, 2020 /PRNewswire/ — SinglePoint Inc. (OTC: SING) (“SinglePoint” or the “Company”), a company focused on providing renewable energy solutions, announces the Company has paid off the remaining balance of a Convertible Secured Note Agreement with GS Capital Partners, LLC (“GS”).  The Company entered into the agreement with GS in March of 2020 as the pandemic started to have effects on the global economy. The payoff of the remaining balance eliminates future conversions under the note and removed additional derivative (toxic) debt from the Company’s Balance Sheet. 

“We continue to take the right steps to increase shareholder value. We are implementing and executing on deliberate and sound fundamental strategies to position SinglePoint for a move to a listed exchange. Paying the balance and early termination of this note is another significant achievement for the Company. Our team has worked diligently throughout 2020 to position SinglePoint as a leading Solar+ provider. We are poised and positioned to take full advantage of the catalytic opportunities in alternative energy and solar centric solutions in 2021 and beyond,” commented Wil Ralston President.  “We would like to thank GS Capital Partners for working with us to allow an early termination of the financing agreement that we believe is beneficial to the Company and importantly, our shareholders.”

As the company continues to improve its balance sheet, management believes it will open up the Company to accretive growth capital that will enable SinglePoint to facilitate and close additional acquisitions in the solar and renewable energy sector that have a historical revenue base and operational profitability which should increase shareholder value.

With its initial focus in solar energy, the Company is building a foundation for future expansion opportunities including energy storage, charge points for electric vehicles and solar as a subscription.

The solar energy market is experiencing exponential growing demand and is expected to reach $223 billion by 2026. To help sustain this growth, there is expected to be significant government support with investing heavily in renewable energy through direct investments, subsidies as well as tax credits. SinglePoint expects to be at the forefront of providing solutions to align with this growing demand.

About SinglePoint Inc.

SinglePoint Inc. is a company focused on providing renewable energy solutions to consumers and small commercial businesses. SinglePoint is committed to building the largest network of renewable energy solutions and modernizing the traditional model. For more information, visit the Company’s website (www.singlepoint.com) and connect on LinkedIn and Twitter.

Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, the spin off of nonenergy related assets, qualification for a national exchange, and future expansion, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Investor Contact:

JTC Team, LLC
Jenene Thomas
833-475-8247
[email protected]

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/singlepoint-inc-improves-balance-sheet-by-eliminating-convertible-secured-note-agreement-301197310.html

SOURCE SinglePoint Inc.

Posted on

Kaival Brands Becomes Second Largest ENDS Offering in U.S.; Expands Disposable E-Cig Market Share to 24.2%

PR Newswire

MELBOURNE, Fla., Dec. 22, 2020 /PRNewswire/ — Kaival Brands Innovations Group, Inc. (OTCQB: KAVL) (“Kaival Brands,” the “Company,” or “we”), is the exclusive global distributor of products manufactured by Bidi Vapor, LLC (“Bidi Vapor”). Bidi Vapor’s primary offering, the BidiTM Stick, is the fastest-growing closed system vaping product in the U.S. The tamper-resistant BidiTM Stick is also the only vape product on the market with an ecologically friendly, mass-recycling program. Kaival Brands also recently launched the Bidi™ Pouch by Bidi Vapor, a tobacco-free nicotine pouch.

Based on Goldman Sachs’ Equity Research Report through November 28, 2020 on the Nielsen data for total nicotine volumes (the “Goldman Report”), the BidiTM Stick by Bidi Vapor is now the second largest disposable electronic nicotine delivery system (“ENDS”) offering based on retail sales for the last 52-week period.  The BidiTM Stick has increased its absolute-dollar market share of the disposable ENDS market share from 7.4% during the 52-week period ending on October 27, 2020 to 24.2% of retail sales during the 52-week period ending on November 28, 2020.  According to the Goldman Report, total dollar sales growth has surged to 1,845% to lead the category for the 12-week period ended November 28, 2020.   We believe our growth underscores the unique customer experience the Bidi Stick provides. 

Niraj Patel, the Company’s Founder & Chief Executive Officer, emphasized Bidi Vapor’s focus on compliance and sustainability. “The Bidi Stick is an electronic nicotine delivery system designed for current adult smokers and is manufactured and marketed with sustainability and socially responsible practices in mind. We even incentivize our customers to recycle with a one-of-a-kind rewards program. We are also hyper-vigilant in making sure the Bidi Stick does not get into the hands of young people but only those adult smokers over 21 looking for alternatives to cigarettes.”

Mr. Patel, the Company’s President, Chief Executive Officer, and Chief Financial Officer owns and controls Bidi Vapor; thus, Bidi Vapor and the Company are considered under common control and Bidi Vapor is considered a related party.

Kaival Brands Innovations Group, Inc., is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets.

Our vision is to develop internally, acquire, own, or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation.

Our vision is to develop internally, acquire, own, or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation.

Learn more about Kaival Brands Innovations Group, Inc., at www.kaivalbrands.com

Forward-Looking Statements

This press release includes statements that constitute “forward-looking statements” within the meaning of federal securities laws, which are statements other than historical facts that frequently use words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “position,” “should,” “strategy,” “target,” “will,” and similar words. All forward-looking statements speak only as of the date of this press release. Although we believe that the plans, intentions, and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions, or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such statements. Our business may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect results, and are often beyond our control. Factors that could cause or contribute to such differences include, but are not limited to, the duration and scope of the novel coronavirus (“COVID-19”) pandemic and impact on the demand for the products we distribute; the actions governments, businesses, and individuals take in response to the pandemic, including mandatory business closures and restrictions on onsite commercial interactions; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies and economic activity; the pace of recovery when the COVID-19 pandemic subsides; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps that we could take to reduce operating costs; our inability to generate and sustain profitable sales growth; circumstances or developments that may make us unable to implement or realize anticipated benefits, or that may increase the costs, of our current and planned business initiatives; changes in government regulation or laws that affect our business; and those factors detailed by us in our public filings with the Securities and Exchange Commission. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Except as required under the federal securities laws and the Securities and Exchange Commission’s rules and regulations, we do not have any intention or obligation to update any forward-looking statements publicly, whether as a result of new information, future events, or otherwise.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/kaival-brands-becomes-second-largest-ends-offering-in-us-expands-disposable-e-cig-market-share-to-24-2-301197212.html

SOURCE Kaival Brands

Posted on

RE/MAX Announces Nine New Members of Approved Supplier Program in Q4

Companies join ever-growing list of services, tools and technology offered through the RE/MAX Marketplace

PR Newswire

DENVER, Dec. 22, 2020 /PRNewswire/ — Today, RE/MAX, LLC, announced the addition of nine companies to the RE/MAX Approved Supplier program, a list of vetted organizations providing business services to the RE/MAX network. All Approved Supplier services and products are offered through the RE/MAX Marketplace, a one-stop portal for RE/MAX affiliates in the U.S. and Canada to find exclusive deals on digital products, services, apps, technology and more.

The new additions include:

Digs
Digs offers financial tools that empower current homeowners to build wealth through their home. Through a monthly home report, homeowners can monitor their home’s value, get refinance alerts, and find ways to optimize their mortgage. The report can be branded to an agent’s business, allowing them to offer continuous value to clients.

eComFax
eComFax is a safe and reliable way for agents to send and receive faxes. Messages can be sent from any device or location with no need for bulky hardware. Faxes are easy to access online to reference at a later time.  

Hurdlr
The Hurdlr app for real estate agents seamlessly tracks business expenses, mileage, deductions, and commissions in real-time, conveniently in one place. The app securely links with credit and bank accounts, eliminating data entry, and generates reports on expenses and deductions to send to a CPA and help with tax filing.

MooveGuru
MooveGuru Inc. launched a free mover engagement program to real estate agents and brokers with the idea of connecting home buyers and sellers to convenience and savings on moving services. Using just-in-time delivery through artificial intelligence algorithms, MooveGuru Inc. ensures consumers receive agent-branded savings from national and local retailers and utility connections as they step through the relocation process.

NetSheet
NetSheet™ generates estimates of closing costs and other associated fees in an agent’s local market area for clients and prospects in real time. Agents can add this new tool to their website via a widget that also captures contact information, providing both sphere and organic lead generation for the agent. In addition, by using this new technology, an agent will be able to optimize their social media efforts with relevant data content and drive more traffic to their website.

ROI Muse
ROI Muse helps agents perform a rental and flip analysis on a property quickly and effortlessly. Reports can be generated in as little as five seconds! The platform offers financial training for agents and their clients, helping them learn basic principles of real estate investing.

SekurSafe
SekurSafe is a secure, Swiss-hosted data, email and communications productivity tool. It offers secure data backup, file-share, group collaboration, email, and password management. With SekurSafe, RE/MAX affiliates can securely store and share any file type, password or email with anyone within or outside of their organization.

Testimonial Tree
Testimonial Tree, through hundreds of software integrations, helps get excellent service noticed! The platform collects, publishes, and shares client testimonials on an agent’s behalf. Five-star ratings can automatically be shared to booj websites, Realtor.com, social media and more. Testimonial Tree helps boost SEO rankings and assists in getting more reviews on Google, Facebook, Zillow and others.

Vari
A workspace innovation company, Vari helps growing organizations unlock the potential of their space and their people. From a collection of office furniture to workspaces offering space-as-a-service, the company makes it easy for high-growth businesses to scale and flex their office space. Organizations all over the world — including over 98% of the Fortune 500 — use Vari products, which are tested and certified to the highest industry standards.

Many of the companies in the RE/MAX Approved Supplier program offer exclusive discounts to RE/MAX agents. With everything from yard signs to legal services, clothing to technology, these companies are just one way RE/MAX provides powerful tools to help agents run a successful business.

To learn more about becoming a RE/MAX Approved Supplier, email [email protected]. 

About the RE/MAX Network
As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with over 135,000 agents in more than 110 countries and territories. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides. Dedicated to innovation and change in the real estate industry, RE/MAX launched Motto Mortgage, a ground-breaking mortgage franchisor, in 2016 and acquired booj, a real estate technology company, in 2018. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children’s Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/remax-announces-nine-new-members-of-approved-supplier-program-in-q4-301197327.html

SOURCE RE/MAX, LLC