Market Newsdesk

CALGARY, Alberta, Dec. 21, 2020 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company“) (TSX:PXT) announced today that the Toronto Stock Exchange (the “TSX“) has approved the Company commencing a normal course issuer bid (the “Bid“).

Pursuant to the Bid, Parex will purchase for cancellation, from time to time, as it considers advisable, up to a maximum of 12,868,562 common shares of the Company. The Bid will commence on December 23, 2020 and will terminate on December 22, 2021 or such earlier time as the Bid is completed or terminated at the option of Parex.

The maximum number of common shares to be purchased pursuant to the Bid represents 10% of the public float, as of December 10, 2020. Purchases pursuant to the Bid will be made on the open market through the facilities of the TSX and/or alternative trading systems. The number of common shares that can be purchased pursuant to the Bid is subject to a daily maximum of 135,276 common shares (which is equal to 25% of the average daily trading volume from June 1, 2020 to November 30, 2020). The price that Parex will pay for any common shares under the Bid will be the prevailing market price on the TSX at the time of such purchase. Common shares acquired under the Bid will be cancelled.

Peters & Co. Limited has agreed to act on the Company’s behalf to make purchases of common shares pursuant to the Bid.

A copy of the Form 12 Notice of Intention to Make a Normal Course Issuer Bid filed by the Company with the TSX can be obtained from the Company upon request without charge.

Parex believes that the common shares have been trading in a price range which does not adequately reflect their value in relation to the Company’s current operations and its growth prospects, and that, at such times, the purchase of common shares for cancellation will increase the proportionate interest of, and be advantageous to, all remaining shareholders.

As of the close of business on December 10, 2020, the Company had 131,887,770 common shares issued and outstanding and a public float of 128,685,624.

Under a previous notice of intention to conduct a normal course issuer bid, the Company sought and received approval of the TSX to purchase 13,986,994 Common Shares for the period from December 23, 2019 to December 22, 2020. From December 23, 2019 to the December 17, 2020, the Company has purchased 13,678,000 Common Shares on the open market at a weighted average price of $16.65 per Common Share.

Further, the Company has entered into an automatic share purchase plan with Peters & Co. Limited in order to facilitate repurchases of its common shares. Under the Company’s automatic share purchase plan, Peters & Co. Limited may repurchase shares under the normal course issuer bid during the Company’s self-imposed blackout periods. Purchases will be made by Peters & Co. Limited based upon the parameters prescribed by the TSX and applicable securities laws and the terms of the plan and the parties’ written agreement. The automatic share purchase plan has been approved by the Toronto Stock Exchange and will be implemented effective January 4, 2020.

This news release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities, in any jurisdiction.

For more information please contact:

Michael Kruchten Senior Vice President, Capital Markets & Corporate Planning Parex Resources Inc. Phone: (403) 517-1733 [email protected]

Kenneth G. Pinsky Chief Financial Officer & Corporate Secretary Parex Resources Inc. Phone: (403) 517-1729

Advisory on Forward Looking Statements

Certain information regarding Parex set forth in this document contains forward-looking statements that involve substantial known and unknown risks and uncertainties. The use of any of the words “plan”, “expect”, “intend”, “believe”, “should”, “anticipate” or other similar words, or statements that certain events or conditions “may” or “will” occur are intended to identify forward-looking statements. These statements are only predictions and actual events or results may differ materially. Many factors could cause Parex’s actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Parex. In particular, forward-looking statements contained in this document include, but are not limited to, statements with respect to the anticipated advantages to shareholders of the Bid, commencement date of the automatic share purchase plan. These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to, the risk that the anticipated benefits of the Bid may not be achieved. Readers are cautioned that the foregoing list of factors is not exhaustive. Although the forward-looking statements contained in this document are based upon assumptions which Management believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this document, Parex has made assumptions regarding, among other things, the ability of the Company to achieve the benefits of the Bid. These forward-looking statements are made as of the date of this document and Parex disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Not for distribution to US Newswire Services or for dissemination in the United States

PDF available: http://ml.globenewswire.com/Resource/Download/463ad4ff-6f91-45a2-a632-b95e3c6c5764 

VANCOUVER, British Columbia, Dec. 21, 2020 (GLOBE NEWSWIRE) — Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) has received notification (the “notification”) from the Mexican federal permitting authority, Secretaría de Medio Ambiente y Recursos Naturales (“SEMARNAT”) that the Company’s initial environmental permit application (“MIA”) in respect of the Ixtaca project has not received approval. Almaden originally submitted the MIA in early 2019.

SEMARNAT Decision

Under relevant legislation, SEMARNAT is obliged to provide specific technical reasons why projects may not meet the environmental standards required for approval.

Generally speaking, reasons cited by SEMARNAT for not approving the MIA include, in SEMARNAT’s view, insufficient information regarding the impacts of open pit mining on the environment, local and regional area. SEMARNAT appears to have discounted the Company’s prevention, mitigation and compensation measures which were part of the MIA application.

The Company is continuing its review of SEMARNAT’s response to the MIA and is evaluating its alternatives which include the re-submittal of a revised MIA, continuing dialogue, and legal options. In the event the Company chooses to re-submit a MIA on the existing mine plan, it believes that the necessary information is readily available and Almaden would have the ability to do so swiftly.

Morgan Poliquin, President and CEO, commented: “We are disappointed with SEMARNAT’s decision. We will review the reasons provided and the factors that may have led to this decision and determine a path to move this project forward. We believe that since discovery we have outlined a resource and ultimately a mineral project that is highly economic, robust, and reflective of the ideal that successful mining projects can and should make a significant positive difference for local communities over the short, medium and long term. We are committed to continuing to unlock the substantial value of this project for all stakeholders. We stand ready to work in a cooperative and respectful manner with Mexican government officials as we seek to explore the potential of this project through continued exploration, ongoing refinement of the mine operating plan, and ongoing review of the notification.”

Background to Ixtaca Project

In light of SEMARNAT’s decision, the Company wishes to provide a brief background of the environmental and social aspects of the Ixtaca Project, which have been disclosed in the Feasibility Study report titled “Ixtaca Gold-Silver Project, Puebla State, Mexico NI 43-101 Technical Report on the Feasibility Study”, which was prepared in accordance with NI 43-101 (the “FS”), is available under the Company’s profile on SEDAR and on the Company’s website:

• The mine plan has a dry stack filtered tailings facility, and co disposal with waste rock with no tailings dam;
• The project’s limestone “waste” rock and flotation tailings are neutralising and have low potential for metal leaching;
• The mine plan includes a fresh water storage dam for mine and community use, enhancing community access to a fresh water reservoir beyond closure;
• The Company has received a letter from the Mexican archaeology authority (INAH) clearing the area for development;
• The Company has received a letter from the environmental enforcement agency (PROFEPA) confirming that the Company’s exploration program has been conducted in accordance with the environmental code;
• A letter from the authority responsible for indigenous affairs (formerly the CDI now the INPI) states that, after analyzing the case, it considered there is no need for consultation, as the data analyzed indicated the absence of an indigenous population in the area of the project.;
• The surface ownership over the mine development area is privately owned and the property acquired by the Company in this area has been by voluntary agreements;
• The Company commissioned and has received an independent Social Impact Assessment (EVIS in Mexico) by a recognised expert consultancy to provide social, ethnology and economic mapping and to help develop a Social Investment Plan with local communities for the life of the mine;
• Local community members have publicly expressed their support of the project. Over 800 people have signed a declaration of support for the project which they delivered to the environmental authorities, and a Memorandum of Understanding has been signed with local water users;
• The Municipality of Ixtacamaxtitlán has included mining as one of its accepted investment and development activities;
• The project would employ over 400 people during an 11-year mine life and would also provide updated infrastructure to a highly marginalised region.

John A. Thomas, P. Eng., VP Project Development of Almaden, and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical contents of this news release that relate to the FS.

About Almaden

Almaden Minerals Ltd. owns 100% of the Ixtaca project in Puebla State, Mexico, subject to a 2.0% NSR royalty held by Almadex Minerals Ltd. The Ixtaca Gold-Silver Deposit was discovered by Almaden in 2010.

On Behalf of the Board of Directors,

“J. Duane Poliquin”
        
J. Duane Poliquin
Chairman
Almaden Minerals Ltd.

Forward Looking Statements

Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: SEMARNAT’s notification stating that the Company’s MIA in respect of the Ixtaca project has not received approval; the reasons for SEMARNAT’s decision; and alternative available to the Company in respect of SEMARNAT’s decision.

These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions, including assumptions in respect of the Ixtaca Project’s environmental impact and both Almaden’s and the SEMARNAT’s legal positions. While these views are considered reasonable by the Company, they are inherently subject to significant legal, regulatory, business, operational and economic uncertainties and contingencies, and such uncertainty generally increases with longer-term forecasts and outlook. These assumptions include: stability and predictability in Mexico’s environmental, mineral tenure, mining and agrarian laws and regulations, as well as their application and judicial decisions thereon; continued respect for the rule of law in Mexico; prices for gold, silver and base metals remaining as estimated; currency exchange rates remaining as estimated; availability of funds; capital, decommissioning and reclamation estimates; mineral reserve and resource estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; all necessary permits, licenses and regulatory approvals being received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; community support in the Ixtaca Project; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release. Such risks and other factors include, among others, risks related to: political risk in Mexico; crime and violence in Mexico; corruption; environmental risks, including environmental matters under Mexican laws and regulations; impact of environmental impact assessment requirements on the Company’s planned exploration and development activities on the Ixtaca Project; certainty of mineral title and the outcome of litigation; community relations; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; changes in mining, environmental or agrarian laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; as well as those factors discussed the section entitled “Risk Factors” in Almaden’s Annual Information Form and Almaden’s latest Form 20-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward-looking statements or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that our forward-looking statements or information will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements or information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to on forward-looking statements or information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact Information:

Almaden Minerals Ltd.
Tel. 604.689.7644
Email: [email protected]
http://www.almadenminerals.com/ 

• Brilacidin’s potent in vitro inhibition of the Washington and Italian strains of SARS-CoV-2 support its potential to inhibit emerging coronavirus mutations (variants), such as those in the
  United Kingdom, Denmark and South Africa
• 120-patient trial to be conducted at U.S. and international clinical sites
• Primary endpoint time to sustained recovery through Day 29
  

WAKEFIELD, Mass., Dec. 21, 2020 (GLOBE NEWSWIRE) — Innovation Pharmaceuticals (OTCQB:IPIX) (“the Company”), a clinical stage biopharmaceutical company developing Brilacidin, a Host Defense Protein (HDP) mimetic representing a new class of drug with antiviral, anti-inflammatory and anti-bacterial properties, is pleased to announce that the U.S. Food and Drug Administrations (FDA) has approved the Company’s Investigational New Drug (IND) application to proceed with initiation of a Phase 2 clinical trial of Brilacidin in hospitalized patients with COVID-19.

Brilacidin has been shown in vitro to be effective against different SARS-CoV-2 strains (Washington and Italian), as well as multiple human coronaviruses, making it less likely to be affected by emerging mutations (in the United Kingdom, Denmark and South Africa) and further differentiating the drug from other COVID-19 treatments in development today.

With its unique HDP mimetic properties, Brilacidin has potential to exert antiviral activity across SARS-CoV-2 variants. The sudden emergence of highly contagious new variants of the coronavirus illuminates the urgent need for drugs, like Brilacidin, with a different mechanism of action from current antivirals to get this resilient virus under control.

The Phase 2 clinical trial is a randomized, double-blind, placebo-controlled, multi-national, multi-center study expected to enroll approximately 120 patients with moderate-to-severe COVID-19. The trial’s primary endpoint is time to sustained recovery through Day 29 based on the National Institute of Allergy and Infectious Diseases (NIAID) Adaptive COVID-19 Treatment Trial (ACTT) clinical status ordinal scale. The Company will now complete site initiation visits and contracts to add additional clinical sites to the study.

“It’s clear from comments of infectious disease experts like Dr. Anthony Fauci and recent news reports on emerging COVID-19 variants that we are not out of the woods yet with the coronavirus, by any stretch of the imagination. Even with vaccines starting to be rolled-out, it is going to be many more months for them to reach the masses and potentially years before vaccines are available worldwide,” commented Leo Ehrlich, Chief Executive Officer at Innovation Pharmaceuticals. “There is now and will be into the foreseeable future a real need for new therapeutics to treat people who contract the infection. We have great hopes Brilacidin will emerge as a novel therapeutic to help fight the global pandemic.”

Brilacidin and COVID-19 

Brilacidin is one of the few drugs targeting COVID-19 that has been tested in human trials (a total of 8) for other clinical indications, providing established safety and efficacy data on over 460 subjects, thereby potentially enabling it to rapidly help address the novel coronavirus crisis. Laboratory testing at independent laboratories supports Brilacidin’s antiviral ability to safely and potently inhibit SARS-CoV-2, and multiple strains of human coronaviruses (H-CoVs). In a human lung cell line against SARS-CoV-2, Brilacidin achieved a Selectivity Index of 426. A molecular screening study of 11,552 compounds also supports Brilacidin as a promising novel coronavirus treatment. Brilacidin antiviral research to date has been limited to laboratory-based experiments. Additional pre-clinical and clinical data support Brilacidin’s inhibition of IL-6, IL-1β, TNF-α and other pro-inflammatory cytokines and chemokines, which have been identified as central drivers in the worsening prognoses of hospitalized COVID-19 patients. Brilacidin’s robust antimicrobial properties might also help to fight secondary bacterial infections, which can co-present in up to 20 percent of COVID-19 patients. Collectively, these data support Brilacidin as a unique 3 in 1 combination—antiviral, immuno/anti-inflammatory, and antimicrobial—COVID-19 therapeutic candidate, with pan-coronavirus treatment potential. A preprint supporting Brilacidin’s COVID-19 treatment potential can be downloaded at the link below.

• Brilacidin, a COVID-19 Drug Candidate, Exhibits Potent In Vitro Antiviral Activity Against SARS-CoV-2 
  https://www.biorxiv.org/content/10.1101/2020.10.29.352450v1.full

Global COVID-19 Cases and Mortality 

An online tool tracking COVID-19 cases and mortality, both in the U.S. and globally, can be found on the Company’s website ( http://www.ipharminc.com ), and at the following link: 
https://ipixcovid19tracker.com/

Alerts 

Sign-up for Innovation Pharmaceuticals email alerts is available at: 
http://www.ipharminc.com/email-alerts/

About Innovation Pharmaceuticals 

Innovation Pharmaceuticals Inc. (IPIX) is a clinical stage biopharmaceutical company developing a world-class portfolio of innovative therapies addressing multiple areas of unmet medical need, including inflammatory diseases, cancer, infectious diseases, and dermatologic diseases. Brilacidin, a versatile compound with broad therapeutic potential, is in a new chemical class called defensin-mimetics. A Phase 2 trial of Brilacidin as an oral rinse for the prevention of Severe Oral Mucositis (SOM) in patients with Head and Neck Cancer, met its primary and secondary endpoints, including reducing the incidence of SOM. The Company plans to advance Brilacidin oral rinse into Phase 3 development, subject to available financial resources. Positive results were also observed in a Phase 2 Proof-of-Concept trial treating patients locally with Brilacidin for Ulcerative Proctitis/Ulcerative Proctosigmoiditis (UP/UPS). Brilacidin for UP/UPS was licensed to Alfasigma S.p.A. in July 2019. A Phase 2b trial of Brilacidin showed a single intravenous dose of the drug delivered comparable outcomes to a seven-day dosing regimen of the FDA-approved blockbuster daptomycin in treating Acute Bacterial Skin and Skin Structure Infection. Brilacidin, based on promising in vitro antiviral activity against SARS-CoV-2, is being evaluated as a potential treatment for COVID-19. Kevetrin is a novel anti-cancer drug shown to modulate p53, often referred to as the “Guardian Angel Gene” due to its crucial role in controlling cell mutations and has successfully completed a Phase 2 trial in Ovarian Cancer. More information is available on the Company website at www.IPharmInc.com.

Forward-Looking Statements: This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements concerning future drug development plans, statements regarding the antiviral capabilities and therapeutic potential of Brilacidin and its impact on SARS-CoV-2 (COVID-19) and other coronaviruses, as well as obtaining government regulatory approvals to commence clinical testing. Other statements regarding future product developments, and markets, including with respect to specific indications, and any other statements which are other than statements of historical fact. These statements involve risks but not limited to risks related to conducting pre-clinical studies and clinical trials and seeking regulatory and licensing approvals for Brilacidin and Kevetrin in the US and other juridictions; that prior test results may not be replicated in future studies and trials, uncertainties and assumptions that could cause the Company’s actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. The Company has in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal,” “potential,” “may,” “suggest,” and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are the Company’s need for, and the availability of, substantial capital in the future to fund its operations and research and development; including the amount and timing of the sale of shares of common stock under securities purchase agreements; the fact that the Company’s licensee(s) may not successfully complete pre-clinical or clinical testing and the Company will not receive milestone payments, or the fact that the Company’s compounds may not successfully complete pre-clinical or clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in the Company’s filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. The Company undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.

INVESTOR AND MEDIA CONTACTS 


Innovation Pharmaceuticals Inc. 


Leo Ehrlich 
[email protected] 

SAN DIEGO, Dec. 21, 2020 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider and industry-leading provider of high-performance, jet-powered unmanned aerial systems, announced today that Kratos has received a $17,776,055 award from the U.S. Air Force Research Laboratory (AFRL) for work in support of the government’s Low Cost Attritable Aircraft Technology (LCAAT) efforts, including as related to the XQ-58A Valkyrie.

Steve Fendley, President of Kratos Unmanned Systems Division, said, “Kratos is pleased to announce our continued efforts in support of AFRL in the LCAAT arena. Our work will continue evolving the capability set and further substantiate the viability and utility of these emerging unmanned technologies.”

Eric Demarco, President and CEO of Kratos, said, “Over the past several years Kratos has taken a commercial, venture-backed approach by investing in and producing high performance, technology leading systems, including affordable, unmanned aerial tactical drones prior to requirement or formal program of record. Today, Kratos has four affordable, reusable, expendable, or attritable drones flying which we can discuss, including Valkyrie, Mako, Gremlins (under Prime Contractor Dynetics), and Air Wolf, each of which is made in America and, we believe, provides Kratos an industry leading position in a large, new opportunity area.”     

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information, please visit www.KratosDefense.com.

Notice Regarding Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 29, 2019, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:

Yolanda White
858-812-7302 Direct

Investor Information:

877-934-4687
[email protected] 

BOSTON, Dec. 21, 2020 (GLOBE NEWSWIRE) — Atea Pharmaceuticals, Inc. (Nasdaq: AVIR) (“Atea”), a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing antiviral therapeutics to improve the lives of patients suffering from life-threatening viral infections, today announced that Jean-Pierre Sommadossi, Ph.D., Founder, Chairman and Chief Executive Officer of Atea will present a corporate overview at the 39th Annual J.P. Morgan Healthcare Conference on Monday, January 11, 2021 at 9:10 a.m. ET.

A live webcast of the presentation will be available on the Company’s website at www.ateapharma.com. A replay of the webcast will be available for 90 days following the presentation.

About Atea Pharmaceuticals

Atea Pharmaceuticals is a clinical stage biopharmaceutical company focused on discovering, developing and commercializing therapies to address the unmet medical needs of patients with life-threatening viral diseases. Leveraging the Company’s deep understanding of antiviral drug development, nucleoside biology, and medicinal chemistry, Atea has built a proprietary purine nucleotide prodrug platform to develop novel product candidates to treat single stranded ribonucleic acid, or ssRNA, viruses, which are a prevalent cause of severe viral diseases. Currently, Atea is focused on the development of orally-available, potent, and selective nucleotide prodrugs for difficult-to-treat, life-threatening viral infections, including severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the virus that causes COVID-19, dengue virus, hepatitis C virus (HCV) and respiratory syncytial virus (RSV). For more information, please visit www.ateapharma.com.

Contacts

Investors:
Will O’Connor
Stern Investor Relations
212-362-1200
[email protected]

Media:
Carol Guaccero
301-606-4722
[email protected]

MISSISSAUGA, Ontario and BRESCIA, Italy, Dec. 21, 2020 (GLOBE NEWSWIRE) — Microbix Biosystems Inc. (TSX: MBX, OTCQB: MBXBF, Microbix^®), a life sciences innovator and exporter, and Copan Italia S.p.A. (Copan^®), the global leader in specimen collection technologies, announce their execution of a strategic agreement (Agreement) in relation to Microbix’s quality assessment products (QAPs™) and Copan’s flocked devices (FLOQ^®).

The Agreement between Microbix and Copan expands upon an existing purchase and supply contract, adding licensing of Copan’s issued patents for use of flocked devices to format test controls (broadly known as QAPs). Also, it formalizes the parties’ agreement for joint usage of their respective brands for marketing of novel and innovative QAPs – Combining Copan’s well-known FLOQ^® brand with Microbix’s emerging PROCEEDx™ (RUO) and REDx™ (IVD) brands – to use PROCEEDx™ FLOQ^® and REDx™ FLOQ® as worldwide branding for active co-marketing of leading-edge FLOQSwab-formatted QAPs by Microbix and Copan.

Twelve such FLOQ-based QAPs SKUs have already been created and introduced into one or more of Australia, Canada, the European Union, Scandinavia, the United States, or the United Kingdom. Of those, fully IVD-regulated REDxFLOQ controls are now available to support lab-based molecular-test workflows for the SARS-CoV-2 virus (the cause of COVID-19 disease). Microbix also intends to license/register REDxFLOQ versions of its growing PROCEEDxFLOQ portfolio, including for workflow support of SARS-CoV-2 antigen testing, Flu A, Flu B, and RSV, then for other pathogen tests for which patient samples are collected on FLOQSwabs. To date, approximately 50,000 units of FLOQSwab-based QAPs have been sold.

Stefania Triva, CEO of Copan, commented, “We’ve been working with the Microbix team for some time now and the mutual trust that has been developed has led to an agreement that will broadly assist the diagnostics industry. Additionally and as a result of our collaboration with Microbix, Copan FLOQ devices are now becoming recognized as the best way of supporting lab quality management system objectives, as much as Copan FLOQSwab-based products are the preferred means of patient-sample collection.”

Cameron Groome, CEO & President of Microbix, remarked, “We’re honoured that Copan is entrusting us to represent the FLOQ brand through our innovative and proprietary QAPs. We believe the collaboration between our companies will improve lab testing accuracy in countries around the world – not just during the current pandemic, but for many decades to come. Also, we thank Stefania and the Copan technical, operational, business, and legal teams for their work on this agreement – it continues to be a pleasure.”  

About Microbix Biosystems

Microbix develops proprietary biological and technology solutions for human health and well-being, with about 80 skilled employees and sales growing from a base of approximately $1 million per month. It makes a wide range of critical biological materials for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure the quality of clinical diagnostic workflows. Microbix antigens enable the antibody tests of over 100 international diagnostics companies, while its QAPs are sold to clinical laboratory accreditation organizations, diagnostics companies, and clinical laboratories. Microbix QAPs are now available in over 20 countries, distributed by Alpha-Tec Systems, Inc., Diagnostic International Distribution S.p.A., Labquality Oy, The Medical Supply Company of Ireland, and R-Biopharm AG. Microbix is ISO 9001 and 13485 accredited, U.S. FDA registered, Australian TGA registered, Health Canada establishment licensed, and provides CE marked products.

Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably viral transport media to stabilize patient samples for lab-based molecular diagnostic testing and Kinlytic^® urokinase, a biologic thrombolytic drug used to treat blood clots. Microbix is traded on the TSX and OTCQB, and headquartered in Mississauga, Ontario, Canada.

About Copan Italia S.p.A. and Copan Group         
Founded in 1979 by the late Giorgio Triva, Copan Italia S.p.A. is based in Brescia, Italy and has subsidiaries in all continents, with manufacturing operations in Italy, the United States, and China. Copan has become the global leader in specimen collection, transport, and automated workflow systems, having created a suite of products that revolutionized bacteriology, virology, and molecular biology test pre-analytics based on the patented FLOQSwab^® technology. Further information about Copan Group is available on its website, www.copangroup.com.

Forward-Looking Information

This news release includes “forward-looking information,” as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, all discussion regarding the referenced Agreement, Copan or the views of its representatives, Microbix’s business and business results, goals or outlook, risks associated with financial results and stability, development projects such as those referenced in its corporate presentation, regulatory compliance and approvals, sales to domestic or foreign jurisdictions, engineering and construction, production (including control over costs, quality, quantity and timeliness of delivery), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company’s judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.

Please visit www.microbix.com or www.sedar.com for recent Microbix news and filings.         For further information, please contact Microbix at:
Cameron Groome, CEO (905) 361-8910	Jim Currie, CFO (905) 361-8910	Deborah Honig, Investor Relations   Adelaide Capital Markets (647) 203-8793 [email protected]

Copyright © 2020 Microbix Biosystems Inc.

Microbix^®, Kinlytic^®, PROCEEDx™, QAPs™, and REDx™ are trademarks of Microbix Biosystems Inc.

COPAN^®, FLOQ^®, and FLOQSwab^® are trademarks of Copan Italia S.p.A.

PROCEEDx™FLOQ^® and REDx™FLOQ^® are trademarks of Microbix Biosystems Inc. in collaboration with Copan Italia S.p.A.

 

NEW YORK, Dec. 21, 2020 (GLOBE NEWSWIRE) — Anavex Life Sciences Corp. (“Anavex” or the “Company”) (Nasdaq: AVXL), a clinical-stage biopharmaceutical company developing differentiated therapeutics for the treatment of neurodegenerative and neurodevelopmental disorders including Alzheimer’s disease, Parkinson’s disease, Rett syndrome and other central nervous system (CNS) disorders, today announced that Ladenburg Thalmann & Co. will host a webinar at 3:30p.m. Eastern Time on Tuesday, December 22^nd, 2020 highlighting Rett Syndrome and ANAVEX^®2-73 (blarcamesine) Phase 2 data as part of Ladenburg Thalmann’s LT Healthcare Symposia Series.

Speakers include Dr. Jeffrey Neul, Professor of Pediatrics, Pharmacology, and Special Education, Pediatric Neurology Director, Vanderbilt Kennedy Center, Nashville, TN and Dr. Randi Jenssen Hagerman, Distinguished Professor, Department of Pediatrics, UC Davis MIND Institute, Sacramento, CA. Robert LeBoyer, Managing Director, Equity Research Ladenburg Thalmann, NY will be moderating the discussion.

To register for the webinar, please visit https://zoom.us/webinar/register/9516079699540/WN_nc7LVxdiSA6weZU8SvRmyQ.

About Anavex Life Sciences Corp.

Anavex Life Sciences Corp. (Nasdaq: AVXL) is a publicly traded biopharmaceutical company dedicated to the development of differentiated therapeutics for the treatment of neurodegenerative and neurodevelopmental disorders including Alzheimer’s disease, Parkinson’s disease, Rett syndrome and other central nervous system (CNS) diseases, pain and various types of cancer. Anavex’s lead drug candidate, ANAVEX^®2-73, recently completed successfully a Phase 2a clinical trials for Alzheimer’s disease and a Phase 2 proof-of-concept study in Parkinson’s disease dementia and a Phase 2 study in adult patients with Rett syndrome. ANAVEX^®2-73 is an orally available drug candidate that restores cellular homeostasis by targeting sigma-1 and muscarinic receptors. Preclinical studies demonstrated its potential to halt and/or reverse the course of Alzheimer’s disease. ANAVEX^®2-73 also exhibited anticonvulsant, anti-amnesic, neuroprotective and anti-depressant properties in animal models, indicating its potential to treat additional CNS disorders, including epilepsy. The Michael J. Fox Foundation for Parkinson’s Research previously awarded Anavex a research grant, which fully funded a preclinical study to develop ANAVEX^®2-73 for the treatment of Parkinson’s disease. ANAVEX^®3-71, which targets sigma-1 and muscarinic receptors, is a promising clinical stage drug candidate demonstrating disease-modifying activity against the major hallmarks of Alzheimer’s disease in transgenic (3xTg-AD) mice, including cognitive deficits, amyloid and tau pathologies. In preclinical trials, ANAVEX^®3-71 has shown beneficial effects on mitochondrial dysfunction and neuroinflammation. Further information is available at www.anavex.com. You can also connect with the company on Twitter,Facebook and LinkedIn.

Forward-Looking Statements

Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks set forth in the Company’s most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Anavex Life Sciences Corp. undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.

For Further Information:

Anavex Life Sciences Corp.
Research & Business Development
Toll-free: 1-844-689-3939
Email: [email protected]

Investors:

Clint Tomlinson
Email: [email protected]

Media:

Melyssa Weible
Elixir Health Public Relations
201-723-5805
[email protected]

– Agios to Dedicate All Resources to Advancing
Mitapivat as a Potential Treatment for Three Initial Hemolytic Anemias and Building on its Scientific Expertise in Cellular Metabolism and PK Activation to Accelerate and Expand its Genetically Defined Disease Portfolio –

– Agios to Receive $1.8 Billion in Upfront Cash, a Potential $200 Million Regulatory Milestone Payment for Vorasidenib and Future Royalties on U.S. Net Sales of TIBSOVO

^®

and Vorasidenib –

– Agios Plans to Return at Least $1.2 Billion to Shareholders Following the Close of the Transaction, Anticipated in Q2 2021 –

– Company to Host Investor Event and Webcast Today at 8:00 a.m. ET –

CAMBRIDGE, Mass., Dec. 21, 2020 (GLOBE NEWSWIRE) — Agios Pharmaceuticals, Inc. (NASDAQ: AGIO), a leader in the field of cellular metabolism to treat cancer and rare genetic diseases, today announced that it will move forward with a singular focus on accelerating and expanding its genetically defined disease portfolio, including the mitapivat clinical programs and a robust pipeline of therapeutic candidates, and has entered into a definitive agreement to sell its commercial, clinical and research-stage oncology portfolio to Servier, an independent global pharmaceutical company. Agios will receive a cash consideration of up to $2.0 billion, including $1.8 billion in upfront cash and $200 million in a potential future milestone payment for vorasidenib, as well as 5% royalties on U.S. net sales of TIBSOVO^® (ivosidenib tablets) from transaction close through loss of exclusivity and 15% royalties on U.S. net sales of vorasidenib from first commercial sale through loss of exclusivity.

“Our decision to accelerate the next chapter of Agios’ success with a singular focus on genetically defined diseases and sell our oncology portfolio to Servier is a transformational milestone for Agios. The result of a deliberative strategic review, this decision reflects the progress we have made understanding and harnessing the science and promise of PK activation and captures the full value of our oncology assets,” said Jackie Fouse, Ph.D., chief executive officer of Agios. “With mitapivat poised to become a new potential treatment option for patients with pyruvate kinase (PK) deficiency, thalassemia and sickle cell disease and with a rich pipeline based on our pioneering leadership in PK activation and cellular metabolism, Agios’ near- and long-term future is filled with significant value-generating catalysts. The proceeds from the transaction will allow us to focus on rapidly advancing our genetically defined disease portfolio for patients in need, strengthen our capital structure and return at least $1.2 billion to shareholders post-closing, achieve capital markets independence and participate in the future success of TIBSOVO^® and vorasidenib.”

“We are proud of our heritage in oncology and the novel therapies we have advanced for patients with hematologic malignancies and solid tumors, and we are pleased to have found an excellent home for our oncology portfolio in Servier, a successful, patient-focused, global pharmaceutical company,” continued Dr. Fouse. “Servier is committed to the oncology patient community and to investing in our assets and our people. This transaction will allow the oncology portfolio to grow and thrive with Servier and will provide Agios with the resources required to optimize the development of our promising genetically defined disease therapies, ultimately enabling the greatest overall positive impact for patients.”

“The strategic acquisition of Agios’ oncology business, including its precision medicine portfolio and pipeline, is aligned with our ambition to become a recognized player in oncology and further supports our commitment to provide innovative treatments to cancer patients with unmet medical needs. It is a key step for the Servier Group as it will significantly strengthen our position in the U.S. and reinforce our R&D capabilities in oncology,” stated Olivier Laureau, president of Servier. “We look forward to welcoming the experienced Agios oncology teams to Servier following the closing.”

“Agios is a leader in the cellular metabolism space with a proven track record of discovering, developing and commercializing precision medicines,” said David K. Lee, CEO, Servier Pharmaceuticals, the U.S. subsidiary of Servier. “The acquisition of Agios’ oncology business, including highly experienced talent from research, development, technical operations and commercial functions, allows for an immediate expansion of our U.S. business into other hematologic malignances and provides the potential for longer-term growth into the solid tumor space, thus ensuring that we can serve more patients living with unmet cancer needs than ever before.”

Transaction Details

The transaction includes the transfer of Agios’ oncology portfolio and associated employees, including its marketed medicine TIBSOVO^® which is approved in the U.S. as monotherapy for the treatment of adults with IDH1-mutant relapsed or refractory acute myeloid leukemia (AML) and for adults with newly diagnosed IDH1-mutant AML who are ≥75 years old or who have comorbidities that preclude the use of intensive induction chemotherapy. TIBSOVO^® is also under investigation in two Phase 3 combination trials in newly diagnosed AML, and as a potential treatment for previously treated IDH1-mutant cholangiocarcinoma and IDH1-mutant myelodysplastic syndrome (MDS). Servier will also acquire Agios’ co-commercialization responsibilities for Bristol Myers Squibb’s IDHIFA^® (enasidenib) and conduct certain clinical development activities within the IDHIFA^® development program.

In addition, the transaction includes Agios’ oncology pipeline and clinical programs, including vorasidenib, an investigational, brain-penetrant, dual inhibitor of mutant IDH1 and IDH2 which is currently being studied in the registration-enabling Phase 3 INDIGO study in patients with IDH-mutant low-grade glioma; AG-270, an investigational first-in-class methionine adenosyltransferase 2a (MAT2A) inhibitor being evaluated in combination with taxanes in patients with methylthioadenosine phosphorylase (MTAP)-deleted non-small cell lung cancer and pancreatic cancer; AG-636, a novel inhibitor of dihydroorotate dehydrogenase (DHODH); and Agios’ oncology research programs.

All of Agios’ U.S.-based employees who primarily support the oncology business will receive a comparable offer at Servier.

The transaction has been approved by the Board of Directors and is subject to approval by Agios shareholders and satisfaction of regulatory conditions. It is currently expected that the transaction will close in the second quarter of 2021.

Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are serving as financial advisers to Agios, and Wachtell, Lipton, Rosen & Katz is serving as its legal adviser.

Agios’ Genetically Defined Disease Portfolio

Agios’ genetically defined disease portfolio is anchored by its lead clinical candidate, mitapivat, which the company believes is a potential blockbuster across three distinct hemolytic anemias. Agios is conducting two global, pivotal Phase 3 studies to evaluate mitapivat as a potential treatment for adults with pyruvate kinase (PK) deficiency; the company recently announced positive topline results from the ACTIVATE study and expects to report data from the ACTIVATE-T study in the first quarter of 2021. Agios anticipates filing for U.S. and EU regulatory approval in adults with PK deficiency in 2021, with a potential 2022 commercial launch in both geographies. Mitapivat is also being evaluated in a fully enrolled Phase 2 study in adults with non-transfusion-dependent α- or β-thalassemia, and as a potential treatment for sickle cell disease under a Cooperative Research and Development Agreement (CRADA) with the U.S. National Institutes of Health. In 2021, Agios expects to initiate global, pivotal Phase 3 studies in thalassemia, including both α-and β-thalassemia, as well as transfusion dependent and non-transfusion dependent patient populations, and in sickle cell disease. In addition, Agios intends to evaluate mitapivat in pediatric patients across all three diseases.

Beyond mitapivat, Agios is advancing a growing genetically defined disease pipeline based on its core expertise in cellular metabolism and pioneering leadership in PK activation. AG-946, a clinical-stage, next-generation oral activator of both wild-type and mutated pyruvate kinase R (PKR) enzymes, entered a first-in-human clinical study in the third quarter of 2020. Agios’ late-stage research pipeline is evolving to include a rich and sustainable portfolio of genetically defined disease targets with clear disease area applications. These include hereditary and acquired anemias, myopathies, retinal diseases and diseases of inborn errors of metabolism such as aminoacidurias, aminoacidemias and others. As the company’s research efforts continue to develop, Agios may pursue value-adding partnerships that may bring complementary expertise for certain disease areas.

Investor Webcast Information

Agios will host an investor webcast today at 8:00 a.m. ET to discuss today’s announcement. The event will be webcast live and can be accessed under “Events & Presentations” in the Investors section of Agios’ website at www.agios.com. The archived webcast will be available on Agios’ website beginning approximately two hours after the event.

About Agios

Agios is focused on discovering and developing novel investigational medicines to treat malignant hematology, solid tumors and rare genetic diseases through scientific leadership in the field of cellular metabolism. In addition to an active research and discovery pipeline across these three therapeutic areas, Agios has two approved oncology precision medicines and multiple first-in-class investigational therapies in clinical and/or preclinical development. For more information, please visit the company’s website at www.agios.com.

About Servier Group

Servier is a global pharmaceutical Group governed by a non-profit foundation, with its headquarters in France (Suresnes). With a strong international presence in 150 countries and a total revenue of 4.6 billion euros in 2019, Servier employs 22,000 people worldwide. Entirely independent, the Group invests on average 25% of its total revenue (excluding generics) every year in research and development and uses all its profits for its development. Corporate growth is driven by Servier’s constant commitment in five areas of excellence: cardiovascular, immune-inflammatory, and neurodegenerative diseases, cancer and diabetes, as well as by its activities in high-quality generic drugs. Servier also offers eHealth solutions beyond drug development.

More information: www.servier.com.

About Servier Pharmaceuticals

Servier Pharmaceuticals, LLC is a commercial-stage pharmaceuticals company with a passion for innovation and improving the lives of patients, their families and caregivers. In the United States, Servier Pharmaceuticals is committed to building a robust portfolio, starting with Oncology, with future growth driven by innovation in other areas of unmet medical need, leveraging Servier’s global portfolio and seeking acquisitions, licensing deals and partnerships.

Servier Pharmaceuticals believes co-creation is fundamental to driving innovation and is actively building alliances that bring solutions to patients’ lives and can accelerate access to therapies. We are building relationships with academia, venture capitalists, biotech and pharmaceutical peers and advocates with the aim of entering into mutually beneficial and complementary partnerships where each organization’s skill sets are recognized and leveraged for the benefit of patients.

With our commercial expertise, global reach, scientific expertise and commitment to clinical excellence, Servier Pharmaceuticals is dedicated to bringing the promise of tomorrow to the patients that we serve.

Learn more at www.servier.us.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this communication may constitute forward-looking statements within the meaning of within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on our current plans and expectations and involve risks and uncertainties which are, in many instances, beyond our control, and which could cause actual results to differ materially from those included in or contemplated or implied by the forward-looking statements. Such risks and uncertainties include the following: (i) the occurrence of any event, change or other circumstance that could give rise to the termination of the purchase and sale agreement; (ii) the failure of Agios to obtain stockholder approval for the proposed transaction or the failure to satisfy any of the other conditions to the completion of the proposed transaction; (iii) the effect of the announcement of the proposed transaction on the ability of Agios to retain and hire key personnel and maintain relationships with its customers, suppliers, advertisers, partners and others with whom it does business, or on its operating results and businesses generally; (iv) risks associated with the disruption of management’s attention from ongoing business operations due to the proposed transaction; (v) the ability to meet expectations regarding the timing and completion of the proposed transaction, including with respect to receipt of required regulatory approvals; (vi) the failure of Agios to receive milestone or royalty payments under the purchase and sale agreement and the uncertainty of the timing of any receipt of any such payments; (vii) the uncertainty of the results and effectiveness of the use of proceeds from the proposed transaction; and (viii) other risks and uncertainties described in our reports and filings with the SEC, including the risks and uncertainties set forth in Item 1A under the heading Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2019, our Quarterly Report on Form 10-Q for the fiscal quarter ended on September 30, 2020 filed with the SEC on November 5, 2020 and other subsequent periodic reports we file with the SEC, which are available at www.sec.gov and Agios’ website at www.agios.com. While the list of factors presented here is considered representative, this list should not be considered to be a complete statement of all potential risks and uncertainties. Any forward-looking statements contained in this communication are made only as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect developments or information obtained after the date hereof and disclaim any obligation to do so other than as may be required by law.

Additional Information and Where to Find It

This communication relates to the proposed transaction involving the sale by Agios Pharmaceuticals, Inc. (“Agios”) of its oncology business to Servier Pharmaceuticals, LLC. In connection with the proposed transaction, Agios will file relevant materials with the U.S. Securities and Exchange Commission (the “SEC”), including Agios’ proxy statement on Schedule 14A (the “Proxy Statement”). This communication is not a substitute for the Proxy Statement or any other document that Agios may file with the SEC or send to its stockholders in connection with the proposed transaction. BEFORE MAKING ANY VOTING DECISION, STOCKHOLDERS OF AGIOS ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain the documents (when available) free of charge at the SEC’s website, at http://www.sec.gov, and Agios’s website, at www.agios.com. In addition, the documents (when available) may be obtained free of charge by accessing Agios’s website at www.agios.com under the heading “Investors” or, alternatively, directing a request to Holly Manning by email at [email protected] or by calling 617-649-8600.

Participants in the Solicitation

Agios and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the holders of Agios common stock in respect of the proposed transaction. Information about the directors and executive officers of Agios is set forth in the proxy statement for Agios’ 2020 annual meeting of stockholders, which was filed with the SEC on April 16, 2020, and in other documents filed by Agios with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement and other relevant materials to be filed with the SEC in respect of the proposed transaction when they become available.

Contacts

Investors:

Holly Manning, 617-844-6630
Director, Investor Relations
[email protected] 

Media:

Jessica Rennekamp, 857-209-3286
Associate Director, Corporate Communications
[email protected] 

TORONTO, Dec. 21, 2020 (GLOBE NEWSWIRE) — Gran Colombia Gold Corp. (TSX: GCM, OTCQX: TPRFF) announced today high-grade intercepts from the latest 71 diamond drill holes, totaling 10,634 meters, from the 2020 in-mine and near-mine drilling programs at its Segovia Operations. The Company also announced the assay results from five additional kick-off diamond drill holes (2,208 meters) from the ongoing directional drilling program at the El Silencio Deep Zone, which led to the discovery of a new high-grade vein named the 450 Vein located in the hanging-wall of the Nacional Vein.

Significant high-grade intercepts from the latest drill results include:

• Providencia: 51.22 g/t Au and 1.9 g/t Ag over 1.91 meters on the Providencia Vein (PV-IU-276);
• Sandra K: 63.92 g/t Au and 458.4 g/t Ag over 0.63 meters on the Sandra K Techo Vein (SK-IU-158);
• El Silencio: 162.70 g/t Au and 77.0 g/t Ag over 0.51 meters on the 450 Vein (ES-MH07-05);
• El Silencio: 87.40 g/t Au and 13.4 g/t Ag over 0.56 meters on the Manto Vein (ES-MH07-04); and,
• Carla: 100.30 g/t Au and 59.3 g/t Ag over 1.26 meters on the Gran Colombia Vein-HW1 (CA-ES-019).

Serafino Iacono, Executive Chairman of Gran Colombia, commented, “Our Segovia Operations were recently acknowledged again as one of the top five highest-grade underground gold operations globally. Our 2020 drilling program in Segovia is continuing to provide us with outstanding results, providing further confirmation that the Segovia Operations are a world-class gold system. With the discovery of a third high-grade vein at depth in the El Silencio Mine, we remain confident that we will be able to expand mineral resources and add to the mine life for this operation. At Providencia, drilling has led to the discovery of a new orebody at Level 14 which is now being developed and remains open at depth. Drilling at the northernmost end of the Sandra K mine showed that the mineralization is still open along strike and at depth. At Carla, our fourth mine which recently started production, drilling intercepted additional high-grade mineralization well below the existing underground mine development. These new discoveries continue to confirm that our mines currently in production remain under-explored and have the potential to be larger than what we understand today. In addition, we commenced our regional drilling campaign in October focused on the other 24 known veins we are not currently mining. 2021 is shaping up as an exciting year for our ongoing exploration programs at our Segovia Operations.”

The planned 2020 in-mine and near-mine infill drilling campaigns commenced in early January with six diamond drill rigs operating from purpose-built underground and surface drill stations and comprises a total of 159 drill holes totaling approximately 31,400 meters, or about 70% of the total drilling program for this year. The execution of the planned drilling programs was somewhat hampered by the restrictions resulting from the COVID-19 pandemic that resulted in logistical difficulties and schedule disruptions earlier in the year. However, approximately 80% of the total in-mine and near-mine infill drilling program for 2020 was completed by the end of October and the remaining 20%, distributed amongst the three main mines, will be completed by early 2021.

The other 30% of the planned drilling campaign for 2020 is focused on the regional exploration targets encompassing the 24 veins within the Segovia mining title that are not currently in production. As a result of COVID-19 limitations to access these areas, this portion of the program only commenced in-mid October and the Company expects to complete approximately 15% of its original plan for these targets in 2020. The regional program will continue in 2021.

Key Highlights

Providencia

In-mine infill drilling from underground stations PV6005-A and PV6005-B, located at the westernmost end of Level 11, with station PV6005-A installed off the same level, was completed to test the extension of the Providencia Vein to the west, up to the F Fault, and in the downthrown block. Multiple high gold grades were intersected from 24 drill holes (2,471 meters) on the main vein system with maximum intersection grades of 111.12 g/t Au with 54.5 g/t Ag over 0.87 meters on the Providencia Vein (PV-IU-276). Drill hole PV-IU-274, drilled from station PV6005-A, intersected 10.30 g/t Au and 7.7 g/t Ag over 0.77 m at depth on the Providencia Vein, which guided the development of Level 14 to the west to intersect a new orebody with 42 meters horizontal width at an average grade of 25.0 g/t Au. The high grade intercept in drill hole PV-IU-276 is below Level 14, so the orebody remains open at depth and offers the potential for additional mineral resource growth and extension of the mine life. As a result, Gran Colombia will carry out in-fill drilling in 2021 from purpose-built drill stations to test the extension of this high grade zone down-plunge and in the downthrown block.

Sandra K

In-mine infill drilling from underground station SK5675, located at the northernmost end of Level 3, recently completed, has continued to delineate and further extend down-plunge, to approximately future Level 7, one of the main ore-shoots outlined by mining in the upper levels of the existing operation, which is currently taking place primarily in Level 5. This orebody remains open. Multiple high gold grades were intersected from 13 drill holes (1,759 meters) on the main vein system with maximum intersection grades of 63.92 g/t Au with 458.4 g/t Ag over 0.63 meters on the Sandra K Techo Vein (SK-IU-158). As a result, Gran Colombia will carry out additional step-out and in-fill drilling at Sandra K in 2021, to test the extension of the main vein system to the north and the extension of the main ore-shoots further down plunge.

El Silencio

In-fill exploration drilling from underground station ES5880, installed off Level 38, was completed on the main vein system that comprises three principal structures, namely: the Manto Vein, which is the master structure that dips shallowly to the east; the 1140 Vein that occurs in hanging wall of the Manto Vein, some 80 meters vertically above it, interpreted as a low angle vein or manto; and a tensional structure delimited by the two veins previously mentioned. Multiple high gold grades were intersected from 14 drill holes (1,799 meters) on the main vein system with maximum intersection grades of 78.48 g/t Au with 65.1 g/t Ag over 0.80 meters on the Manto Vein (ES-EU-009) and 9.28 g/t Au with 8.2 g/t Ag over 0.31 meters on the Tensional structure (ES-EU-009). High-grade mineralization associated with the Manto Vein remains open down-plunge and will be targeted by in-fill drilling in 2021.

The ongoing directional drilling program on the El Silencio Deep Zone is targeted to better delineate the southern ore-shoots down-plunge below Level 40. Drilling on the southern ore-shoot was successful in discovering a new high-grade vein named the 450 Vein and confirming the continuity and high-grade nature of the Manto vein down-dip below Level 40, the deepest level of historical mining on the Manto Vein by Frontino Gold Mines. The 450 Vein, interpreted as a low angle vein or manto, occurs in the hanging-wall of the Nacional Vein, some 40 meters vertically above. Multiple high gold grades were intersected from 5 kick-off holes (2,208 meters) with maximum intersection grades of 162.70 g/t Au with 77.0 g/t Ag over 0.51 meters on the 450 Vein (ES-MH07-05) and 87.40 g/t Au with 13.4 g/t Ag over 0.56 meters on the Manto Vein (ES-MH07-04).

There is still about 3,000 m to be drilled to complete the planned directional drilling program, which is scheduled to be completed in the first quarter of 2021.

Carla

Four diamond drill holes were completed at Carla from two purpose-built surface drill stations to finish the drilling program targeting the central and southern portions of the Gran Colombia Vein system, with the objective of converting Inferred mineral resources to the Indicated mineral resource category to be able to provide future mining studies with reasonable levels of confidence. The Gran Colombia Vein system interpreted so far comprises: the Gran Colombia Vein (“LGC”), which is a northerly-trending master vein with a continuous strike of more than 700 meters and has been drilled to a vertical depth of about 250 meters, on which a small-scale underground mining operation was developed in the past; an hanging-wall vein (“LGC-HW1”) that strikes and dips sub-parallel and in close proximity to the LGC, which merges into the LGC or dies out at depth; and a possible third high-grade, narrow new structure logged as a breccia (“LGC-FW1”), occurring in the footwall of the LGC, interpreted as a splay-off the LGC gently dipping to the north.

Multiple high gold grades were intersected from 4 drill holes (904 meters) with maximum intersection grades of 11.82 g/t Au with 10.3 g/t Ag over 0.66 meters on the LGC Vein (CA-ES-019), 149.08 g/t Au with 88.8 g/t Ag over 0.84 meters on the LGC-HW1 (CA-ES-019) and 24.99 g/t Au with 11.2 g/t Ag over 1.32 meters on the LGC-FW1 (CA-ES-018). Importantly, these intercepts have significantly higher gold grades than the current Indicated and Inferred mineral resource estimates for the Carla Mine. As a result, Gran Colombia will carry out additional step-out and in-fill drilling at Carla in 2021 in order to test the high-grade structures of the main vein system along strike and at depth.

The table below lists the key intercepts from the ongoing 2020 drilling campaign since the press release issued on July 20, 2020:

Hole	From (m)	To (m)	Width (m)	Au (g/t)	Ag (g/t)	Vein
PROVIDENCIA MINE
U-G Drilling station PV5880
PV-IU-274*	106.98	109.28	2.30	6.59	5.2	PRO
including	107.70	108.47	0.77	10.30	7.7	PRO
PV-IU-276*	133.56	135.47	1.91	51.22	1.9	PRO
including	134.60	135.47	0.87	112.12	54.5	PRO
U-G Drilling station PV6005
PV-IU-283*	96.63	98.50	1.87	7.55	25.9	PRO
Including	97.77	98.50	0.73	10.41	16.5	PRO
PV-IU-285*	85.10	85.58	0.48	19.06	13.0	PRO
SANDRA K MINE
U-G Drilling station SK5675
SK-IU-154*	88.10	90.20	2.10	25.98	48.9	SKT
including	88.10	88.86	0.76	61.47	87.4	SKT
SK-IU-158*	115.34	115.97	0.63	63.92	458.4	SKT
SK-IU-160*	151.78	153.43	1.65	3.36	29.6	SKT
including	153.10	153.43	0.33	7.53	59.4	SKT
SK-IU-163*	60.18	60.55	0.37	10.56	208.4	SKT-HW1
EL SILENCIO MINE
U-G Drilling station ES5980
ES-EU-005*	35.26	35.60	0.34	8.20	4.7	Tensional
ES-EU-009*	33.02	33.33	0.31	9.28	8.2	Tensional
ES-EU-009*	94.64	95.44	0.80	78.48	65.1	VEM
ES-EU-010*	106.48	106.80	0.32	27.79	24.9	VEM
El SILENCIO DEEP – DIRECTIONAL DRILLING
U-G Drilling station ES5690
ES-MH07-01**	934.95	935.49	0.54	9.52	6.5	450
ES-MH07-03**	858.00	858.87	0.87	25.82	16.6	450
ES-MH07-04**	934.38	935.44	1.06	93.90	67.0	450
ES-MH07-04**	1060.69	1061.97	1.28	44.37	9.9	VEM
including	1060.69	1061.25	0.56	87.40	13.4	VEM
ES-MH07-05**	883.30	883.81	0.51	162.70	77.0	450
CARLA MINE
Surface Drilling station CA4850
CA-ES-018	290.88	292.20	1.32	24.99	11.2	LGC-FW1
Surface Drilling station CA4840
CA-ES-019	155.39	156.65	1.26	100.30	59.3	LGC-HW1
including	155.39	156.23	0.84	149.08	88.8	LGC-HW1
CA-ES-019	159.80	162.90	3.10	3.05	3.1	LGC
including	160.92	161.58	0.66	11.82	10.3	LGC

* Denotes underground drill holes. The underground infill holes were drilled at 0 to -86 degrees from the horizontal. Sample interval grades over 7.0 g/t Au are reported. Grades are for quartz vein intersections and are length-weighted composites. The width is the sample length and is not necessarily the true width of the vein. All gold and silver grades are uncut and are not diluted to a minimum mining width.

** Denotes directional drilling mother and kick-off holes. The directional drilling kick-off holes were drilled at -42 to -49 degrees from the horizontal. Sample interval grades over 7.0 g/t Au are reported.

Results from in-mine infill drilling are reported for 63 holes (7,523 m) including 24 holes (2,471 m) at Providencia (PV-IU-262 to PV-IU-285), 13 holes (1,759 m) at Sandra K (SK-IU-152 to SK-IU-163) and 26 holes (3,293 m) at El Silencio (ES-EU-001 to ES-EU-014 and ES-IU-118 to ES-IU-129). There are no results above cut-off grade for the 20 holes at Providencia, 9 holes at Sandra K and 22 holes at El Silencio and so these holes are not listed in the table.

Results from near-mine surface exploration drilling at Carla are reported for 4 holes (903.50 m) (CA-ES-018 and CA-ES-021). There are no results above cut-off grade for 2 holes at Carla.

Results from directional drilling from one purpose-built station at El Silencio are reported from 5 kick-off holes (ES-MH07-01 to ES-MH07-05), totaling 2,208 m (kick-off hole ES-MH07-01 is not included because it was already reported in the press release issued on July 20, 2020, except for the intersection of the new 450 vein, the significance of which was shown later by the continuity of the 450 vein in the other kick-off holes), all drilled on the southern ore-shoot. There are no results above cut-off grade for one kick-off hole.

Please refer also to the attached illustrative maps showing the Providencia, Sandra K, El Silencio and Carla drilling programs.

Vein name abbreviations: PRO: Providencia Vein. SKT: Sandra K Techo Vein. SKT-HW1: Sandra K Techo Hanging-wall 1. 450: 450 Vein. VEM: Manto Vein. LGC La Gran Colombia Vein. LGC-HW1: La Gran Colombia Hanging-wall 1. LGC-FW1: La Gran Colombia Footwall 1.

Gran Colombia currently has six diamond drill rigs in operation at Segovia, with three rigs carrying out resource definition within the underground developments of the Sandra K and El Silencio mines, one rig operating from Level 3 at Sandra K targeting the down-plunge extension of the south ore-shoot of the El Silencio mine, one rig operating from surface exploring at depth the westernmost end of the Providencia mine, and one rig operating from surface at Vera targeting the down-plunge extension of two ore-shoots mined in the past by Frontino Gold Mines.

Qualified Person

Dr. Stewart D. Redwood, PhD, FIMMM, FGS, Senior Consulting Geologist to the Company, is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure or Mineral Projects and prepared or reviewed the preparation of the scientific and technical information in this press release. Verification included a review of the quality assurance and quality control samples, and review of the applicable assay databases and assay certificates.

Quality Assurance and Quality Control

The Segovia samples were prepared by SGS Laboratories Ltd (ISO 9001:2008) at their laboratory in Medellin, and assayed at their laboratories in Segovia, Colombia and El Callao, Peru. Gold was assayed by 30 g fire assay with atomic absorption spectrophotometer (“AAS”) finish. Samples above the upper detection limit of 10.0 g/t gold were re-assayed by 30 g fire assay with gravimetric finish. Silver was assayed by aqua regia digestion and AAS finish. Silver samples above 500 g/t were re-assayed by nitric and hydrochloric acid digestion with AAS finish for ore grades. Some sample batches were prepared and assayed by ALS Colombia Ltda. (ISO 9001:2015) at its laboratory in Medellin, Colombia. Gold was assayed by 30 g fire assay with AAS finish. Samples above the upper detection limit of 10.0 g/t gold were re-assayed by 30 g fire assay with gravimetric finish. Silver was assayed by aqua regia digestion and AAS finish. Silver samples above 100 g/t were re-assayed by nitric and hydrochloric acid digestion with AAS finish for ore grades. Blank, standard and duplicate samples were routinely inserted and monitored for quality assurance and quality control.

About Gran Colombia Gold Corp.

Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia where it is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. Gran Colombia owns approximately 53.5% of Caldas Gold Corp. (TSX-V: CGC; OTCQX: ALLXF), a Canadian mining company currently advancing a major expansion and modernization of its underground mining operations at its Marmato Project in Colombia. Gran Colombia’s project pipeline includes its Zancudo Project in Colombia, currently in the process of being spun out to ESV Resources Ltd. (TSX-V: ESV.H) together with an approximately 18% equity interest in Gold X Mining Corp. (TSXV: GLDX) (Guyana – Toroparu) and an approximately 26% equity interest in Western Atlas Resources Inc. (“Western Atlas”) (TSX-V: WA) (Nunavut – Meadowbank).

Additional information on Gran Colombia can be found on its website at


www.grancolombiagold.com


and by reviewing its profile on SEDAR at


www.sedar.com


.

Cautionary Statement on Forward-Looking Information

This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including exploration programs and mineral resources and reserves. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in the Company’s Annual Information Form dated as of March 30, 2020 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:

Mike Davies
Chief Financial Officer
(416) 360-4653
[email protected]

Attachment 1 – Providencia Mine In-fill Drilling Grade Intercepts is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5b39f920-a8c1-430c-a921-8375cf9fb241

Attachment 2 – Cross section showing high grade intercept at intersection of the Providencia Vein with the F Fault is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8bd815c0-70b3-4a88-9a3e-663bcde75ce3

Attachment 3 – Sandra K Mine In-fill Drilling Grade Intercepts is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a73b4df7-5b30-4c43-8ef6-d24972e6305f

Attachment 4 – Cross section of the Sandra K vein system at northernmost end of the mine is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f13be5ad-3035-4f5e-82a0-c8aa31149c1b

Attachment 5 – El Silencio Mine In-fill Drilling Grade Intercepts is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7fa229e7-2319-429f-9620-3ea3fc14134f

Attachment 6 – Cross section of the El Silencio vein system is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d641bc91-08c8-43fb-a2ab-053aee3c2dc8

Attachment 7 – Cross section of the El Silencio Deep vein system is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59d9ed99-5a51-4e58-a48f-27e504fcf24e

Attachment 8 – Carla Mine In-fill Drilling Grade Intercepts is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/030ba127-5923-4715-b245-62038c1b01c9

Attachment 9 – Cross section of the Carla vein system is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1a3c909f-50f4-4689-a888-2dca72bb5658

 

New York, NY, Dec. 21, 2020 (GLOBE NEWSWIRE) — The American Institute of Chemical Engineers (AIChE) has awarded its 2020 Langer Prize for Innovation and Entrepreneurial Excellence to Maria Eugenia Inda, a Pew Postdoctoral Fellow in the Synthetic Biology Center at the Massachusetts Institute of Technology (MIT). The fellowship — which was inaugurated in 2019 and is administered by AIChE’s Center for Entrepreneuring Excellence — is named for biomedical pioneer Robert Langer of MIT. The Prize provides an unrestricted grant to enable creative researchers and engineering entrepreneurs in their early careers to pursue potentially game-changing innovations. Inda’s prize was announced during AIChE’s 2020 Virtual Annual Meeting, which was held online November 16–20. The Langer Prize is endowed by the AIChE Foundation. 

 

At MIT, Eugenia Inda is building biosensors to diagnose and treat disorders such as inflammatory bowel disease and celiac disease. Specifically, she is equipping the bacteria dwelling in the intestines with sensors to recognize the molecular markers of inflammation and to direct them as sentinels to patrol the gut and to track bacterial infections, metabolic disorders and deficiencies, and toxic elements in the body. Her work includes a multi-diagnostic diaper to monitor infants’ microbiome development.

 

In acknowledging the Langer Prize honor, Eugenia Inda said, “I am excited to join this fellowship program, which will help me to achieve the big dreams that I have.” She also thanked AIChE for its “generosity and support in celebrating the new generation of innovators, inventors, and scientific interpreters.” She added, “I am grateful to be part of this celebration.” 

 

Dr. Inda will be formally recognized at an AIChE event to be announced.

 

In November, Eugenia Inda — along with 2019 Langer Prize recipient César de la Fuente of the University of Pennsylvania — presented their research in a video hosted by the AIChE Foundation and introduced by Robert Langer. The video is posted on AIChE’s ChEnected blog at aiche.org/chenected.

 

The deadline for 2021 fellowship applications is May 1, 2021. To apply, or to learn more about AIChE’s Langer Prizes, visit www.aiche.org/langerprizes. To support the endowment campaign, visit www.aiche.org/giving/.

 

# # #

About AIChE

AIChE is a professional society of more than 60,000 chemical engineers in 110 countries. Its members work in corporations, universities and government using their knowledge of chemical processes to develop safe and useful products for the benefit of society. Through its varied programs, AIChE continues to be a focal point for information exchange on the frontiers of chemical engineering research in such areas as energy, sustainability, biological and environmental engineering, nanotechnology and chemical plant safety and security. More information about AIChE is available at www.aiche.org.

Attachments

• AIChE_LangerPrize_2020_Dec21
• EugeniaInda

Gordon Ellis
AIChE
[email protected]