Market Newsdesk

Partnership with Alliancepharma Technologies S.A., one of Ecuador’s largest pharmaceutical companies, will take advantage of the upcoming cannabis regulations to allow for the registration and distribution of several of Avicanna’s consumer and pharmaceutical products across Ecuador

Distribution agreement with Spenta S.A., an Ecuadorian cosmetic distributor, for the distribution of its derma-cosmetic product line branded as Pura Earth

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Successful registration and export of CBD and CBG dominant feminized seeds to Uruguay from Colombia

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TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that it has entered into an importation and distribution agreement with Alliancepharma Technologies S.A. (“Alliancepharma”) for the distribution of Avicanna’s advanced and clinically supported medical and pharmaceutical formulations in Ecuador. Avicanna has also entered into an agreement with Spenta S.A. (“Spenta”), an Ecuadorian cosmetic distributor, for the distribution of its Pura Earth branded derma-cosmetic product line nationwide. As part of its commercial expansion plans, Avicanna has also completed an export of feminized seeds to Uruguay from its majority-owned cultivation subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH’) in Santa Marta, Colombia.

Avicanna’s exclusive agreement with Alliancepharma will take advantage of the upcoming Ecuadorian regulations of cannabis-based products and allow for the registration and commercialization of Avicanna’s advanced cannabinoid-based consumer and pharmaceutical products in the Ecuadorian market. The product offerings include Avicanna’s deep tissue topical formulations marketed as consumer products in addition to several pharmaceutical products that are intended to be registered as indication specific drugs and natural medicines. Alliancepharma, a part of the Naturex group and one of the largest pharmaceutical companies in Ecuador, is expected to leverage its in-house distributionand commercialization capabilities as well as its network of nation-wide pharmacies to bring Avicanna’s products to consumers all over the country upon the regulations in Ecuador coming into effect.

“We are very excited to enter the Ecuadorian market with the first cannabinoid-based pharmaceutical products with the support of a world class partner such as Avicanna Inc. This partnership strengthens our commitment as pioneers and leaders in the pharmaceutical industry, offering innovative phyto-therapeutic solutions to continue improving the quality of life of our patients.” Stated Diego Vega, International Business Development Director of Alliancepharma.

Avicanna’s Pura Earth branded derma-cosmetic products are expected to enter the Ecuadorian market through Spenta’s distribution nationwide network of pharmacies, beauty retailers and e-commerce platforms. The agreement with Spenta coincides with an initial purchase order of several SKU’s which is expected to be exported from Colombia in Q1-2021. This will become the second South American market after Colombia in which the Pura Earth branded derma-cosmetic products will be available for sale. The derma-cosmetic formulations, which synergistically combine natural ingredients with hemp-derived CBD, have been developed through a rigorous scientific and evidence-based approach that includes positive results from the completion of 3 cosmetic human clinical studies.

As part of the Company’s commercial expansion plans, Avicanna’s majority owned subsidiary, SMGH, has completed the registration of its CBD and CBG dominant genetics in Uruguay and a commercial export of feminized non-psychoactive cannabis seeds to Uruguay. This marks three countries in which Avicanna’s seeds are currently commercially sold including the United States and Colombia. As a global cannabis and hemp cultivation industry begins to emerge, Avicanna’s industry leading genetics program seeds business unit is well positioned to be a reliable supplier of high quality seeds.

Lucas Nosiglia, President of Avicanna LATAM, commented: “We continue to demonstrate leadership across the LATAM markets and validate our diverse business model which is dedicated to quality cannabinoid products across the full value chain. We are optimistic about the opportunity in LATAM markets as we continue to see the regulations and business opportunities evolve and believe our medical and scientific superiority combined with our sustainable and economical costs positions us at the forefront of this emerging sector.”

To the knowledge of the Company, it is in compliance with all applicable laws in the jurisdictions in which it operates.

About Avicanna Inc.

Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development, and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.

Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:

• Pura Earth™ or Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
• RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

With ongoing clinical trials on its derma-cosmetic (branded as Pura Earth or Pura H&W), medical cannabis (branded as RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.

Avicanna manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at [email protected].

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of the Company to manufacture any of the products, the ability of the Company to export any of the products, the ability of Alliancepharma or Spenta to distribute the products, the regulations coming into full force and effect in Ecuador, and the ability of
SMGH to continue to complete exporting cannabis seeds to Uruguay
. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at

www.sedar.com

.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Acquisition expands company’s leadership position in Fulfillment System Automation for Microsoft

Company to host conference call today at 8:30 a.m. ET

MINNEAPOLIS, Dec. 17, 2020 (GLOBE NEWSWIRE) — SPS Commerce, Inc. (NASDAQ: SPSC), a leader in retail cloud services, today announced the acquisition of Data Masons, a provider of EDI solutions to hundreds of consumer goods, industrial and distribution businesses and resellers.

“We are excited about the acquisition of Data Masons. Together, SPS Commerce and Data Masons offer unmatched trading partner and system expertise for customers using Microsoft solutions,” said Archie Black, President and CEO of SPS Commerce. “Combined, we have numerous partnerships in the Microsoft community that will extend SPS Commerce’s leadership in this market.”

“Data Masons is thrilled to join the SPS Commerce retail network,” said Glenn McPeak, CEO of Data Masons. “We have worked closely with SPS Commerce since 2011 to serve customers in the Microsoft market and we share a vision of providing the easiest-to-use, most automated EDI solutions that help suppliers optimize efficiency when transacting with their trading partners.”

As part of the SPS Commerce community, Data Masons customers will have access to the SPS Commerce global retail network, which includes more than 90,000 trading partners in over 80 countries, and expanded capabilities for connecting with global supply chain partners.

Acquisition Details

Under the terms of the acquisition agreement, SPS Commerce acquired all equity interests of Data Masons for approximately $100 million in cash. Data Masons is headquartered in Sarasota, Florida.

SPS Commerce anticipates the acquisition will have a nominal impact to fourth quarter and full year 2020 expected financial results.

For fiscal year 2021, the company expects the acquisition will add approximately $20 million in revenue and approximately $3 million in adjusted EBITDA. This includes the estimated impact of approximately $2 million of the deferred revenue adjustment related to purchase accounting.   

The company also expects the acquisition to contribute approximately $5 million to Adjusted EBITDA in fiscal year 2022.

Additional details, including the amortization expense associated with the acquisition, will be provided when the company reports fourth quarter and fiscal 2020 results in February of 2021.

Conference Call

SPS Commerce will host a conference call today at 7:30 a.m. CT (8:30 a.m. ET). To access the call, please dial (877) 312-7508, or outside the U.S. (253) 237-1184, with Conference ID # 7099364 at least five minutes prior to the 7:30 a.m. CT start time. A live webcast of the call will also be available at http://investors.spscommerce.com under the Events and Presentations menu. The replay will also be available on our website at http://investors.spscommerce.com.

About SPS Commerce

SPS Commerce is the world’s leading retail network, connecting trading partners around the globe to optimize supply chain operations for all retail partners. We support data-driven partnerships with innovative cloud technology, customer-obsessed service and accessible experts so our customers can focus on what they do best. To date, more than 90,000 companies in retail, distribution, grocery and e-commerce have chosen SPS as their retail network. SPS has achieved 79 consecutive quarters of revenue growth and is headquartered in Minneapolis. For additional information, contact SPS at 866-245-8100 or visit www.spscommerce.com.

SPS COMMERCE, SPS, SPS logo, RETAIL UNIVERSE, 1=INFINITY logo, AS THE NETWORK GROWS, SO DOES YOUR OPPORTUNITY, INFINITE RETAIL POWER, RETAIL UNIVERSE are marks of SPS Commerce, Inc. and Registered in the U.S. Patent and Trademark Office. RSX, IN:FLUENCE, and others are further marks of SPS Commerce, Inc. These marks may be registered or otherwise protected in other countries.

Use of Non-GAAP Financial Measures

To supplement its financial statements, SPS Commerce also provides investors with Adjusted EBITDA, which is a non-GAAP financial measure. SPS Commerce believes that this non-GAAP measure provides useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations. SPS Commerce’s management uses this non-GAAP measure to compare the company’s performance to that of prior periods for trend analyses and planning purposes. It uses Adjusted EBITDA for purposes of determining executive and senior management incentive compensation. This measure is are also presented to the company’s board of directors.

Adjusted EBITDA consists of net income adjusted for depreciation and amortization, investment income (interest income/expense, realized investments gain/loss excluding realized gain/loss from foreign currency on investments), income tax expense, stock-based compensation expense, realized gain/loss from foreign currency on cash and investments held, and other adjustments as necessary for a fair presentation. SPS Commerce uses Adjusted EBITDA as a measure of operating performance because it assists the company in comparing performance on a consistent basis, as it removes from operating results the impact of the company’s capital structure. SPS Commerce believes Adjusted EBITDA is useful to an investor in evaluating the company’s operating performance because it is widely used to measure a company’s operating performance without regard to items such as depreciation and amortization, which can vary depending upon accounting methods and the book value of assets, and to present a meaningful measure of corporate performance exclusive of the company’s capital structure and the method by which assets were acquired.

This non-GAAP measure should not be considered a substitute for, or superior to, financial measures calculated in accordance with generally accepted accounting principles in the United States. This non-GAAP financial measure excludes significant expenses and income that are required by GAAP to be recorded in the company’s financial statements and are subject to inherent limitations.

Forward-Looking Statements

This press release contains forward-looking statements, including information about management’s view of SPS Commerce’s future expectations, plans and prospects, including our views regarding future execution within our business, the opportunity we see in the retail supply chain world, our positioning for the future, our performance for the fourth quarter and full year of 2020, and fiscal years 2021 and 2022, and any statements about the future effect of the COVID-19 pandemic on our business, customers or the global economy and our business prospects, all of which fall within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of SPS Commerce to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are included in documents SPS Commerce files with the Securities and Exchange Commission, including but not limited to, SPS Commerce’s Annual Report on Form 10-K for the year ended December 31, 2019, as well as subsequent reports filed with the Securities and Exchange Commission. Other unknown or unpredictable factors also could have material adverse effects on SPS Commerce’s future results. The forward-looking statements included in this press release are made only as of the date hereof. SPS Commerce cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SPS Commerce expressly disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

SPS-F

Contact:

Investor Relations
The Blueshirt Group
Irmina Blaszczyk
Lisa Laukkanen
[email protected]
415-217-4962

WASHINGTON, Dec. 17, 2020 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE: FCN) and the International Association of Privacy Professionals (“IAPP”) today announced the release of their joint Privacy Governance Report. The report, which is the IAPP’s sixth annual study into global privacy programs and trends, includes findings of an in-depth survey of more than 450 privacy professionals in the U.S. and Europe, examining the impact of COVID-19 and heightening regulation on privacy programs and the privacy profession in general.

Throughout most of 2020, privacy professionals were focused on wrestling with the complicated links between working during a global pandemic and the data protection and privacy risks that have emerged as a result. In parallel, legislative activity on the data privacy front was accelerated among state and federal authorities around the world, creating a confluence of challenges and concerns for privacy professionals to prioritize.

“Privacy will continue to be a big focus for businesses in 2021,” said Jake Frazier, a Senior Managing Director in the Information Governance, Privacy & Security practice within FTI Consulting’s Technology segment. “There’s strong potential for heightened enforcement activities and continued changes to privacy laws in the U.S. and worldwide. In parallel, companies will grapple with maintaining compliance and avoiding privacy control breakdowns amid the complex business challenges that have resulted from the pandemic. The IAPP survey sheds light on the tremendous pressure privacy professionals have been under this year, but it also reveals progress in terms of the ways organizations are now prioritizing and budgeting for important privacy programs.”

Pandemic Concerns Dominate

More than 40% of survey respondents said privacy has become more important within their organization due to COVID-19, while only 5% said it has become less important. Many privacy professionals have also seen their day-to-day responsibilities shift this year, with more than half saying that maintaining and advising on employee privacy has become a priority. Roughly half are also dedicating more time to assessing platforms that support the organization’s remote workforce.

In terms of concerns over data collected from employees for COVID-19 purposes, respondents were split. Approximately 45% said they have conducted a privacy risk assessment or data protection impact assessment on this information, while about half had not.

Growth in Privacy Budgets and Priorities

Privacy spending is up by 8% from 2019, at a mean budget of roughly $2 million for companies with annual revenues of more than $25 billion. Only 9% expect to see a decrease in their privacy budget in 2021, and of those who expect a budget increase, many said it will support new privacy program initiatives, tool acquisition and more privacy training. Moreover, the number of privacy professionals who believe their budget is sufficient to meet their obligations increased 11% over last year.

Approximately four in 10 organizations are working toward a single privacy strategy that can be applied around the globe. Another 30% take an approach that segments data subjects by jurisdiction, handling each data subject’s personal data according to the relevant local law. As was true in 2019, compliance issues—concerning GDPR, the California Consumer Privacy Act (“CCPA”) and beyond—continue to remain the top priorities for privacy professionals. Overall, 30% said that compliance with GDPR remained their top priority.

Legislative and Legal Changes

Data privacy laws picked up momentum around the world this year. While GDPR compliance is up from 2019, half of respondents are still not fully compliant. The CCPA has also triggered notable changes, with 38% of organizations reporting they have modified business practices to avoid selling data, and 32% confirming they have added a “Do Not Sell My Personal Information” link on their website.

The Schrems II ruling from earlier in 2020, which invalidated the Privacy Shield framework for cross-border data transfers, is another issue causing direct and indirect challenges for many companies. Nearly two-thirds of respondents said their organizations transfer data outside of the EU—55% previously relied on Privacy Shield and 62% are adjusting their data transfer mechanism as a result of this year’s ruling. Another 88% use standard contractual clauses as their mechanism for the compliant transfer of data outside of the EU, but many experts agree this approach has been cast into doubt in the wake of Schrems II.

Privacy Leadership Expands, Staffing Plateaus

While privacy hiring has been on the rise in previous years, it has leveled off in 2020. Nearly half of organizations have implemented or plan to implement hiring freezes for privacy and non-privacy roles, and 71% expect the current number of full-time privacy staff to remain the same in the coming year. In 4 out of 10 organizations, the most senior “privacy leader” holds the title of chief privacy officer. Boards of Directors maintain privacy leadership at 13% of organizations.

In terms of job duties, privacy professionals in Europe were more likely than their U.S. counterparts to handle privacy-related monitoring, GDPR compliance and assuring proper cross-border data transfers, while U.S. respondents were more likely to have a focus on ethical decision-making around data use and CCPA compliance.

Download the fully IAPP-FTI Consulting Privacy Governance Report 2020here.

Methodology

A total of 473 respondents completed the survey this year. Email invitations to take the survey were sent to subscribers of the IAPP’s Daily Dashboard. The survey was fielded in August and September 2020 by Fondulas Strategic Research LLC.

About FTI Consulting

FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 6,200 employees located in 28 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $2.35 billion in revenues during fiscal year 2019. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.

About IAPP

The International Association of Privacy Professionals is the largest and most comprehensive global information privacy community and resource. Founded in 2000, the IAPP is a not-for-profit organization that helps define, promote and improve the privacy profession globally. More information about the IAPP is available at iapp.org.

FTI Consulting, Inc.

555 12^th Street NW
Washington, DC 20004
+1.202.312.9100

Investor Contact:

Mollie Hawkes
+1.617.747.1791
[email protected]

Media Contact:

Kate Holmes
+1.206.373.6521
[email protected]

• NexTech’s live streaming video and in-booth AR capabilities
  enable mining solution providers to showcase their technologies on a global stage
• Canada has long been a dominant mining jurisdiction that will be augmented with NexTech’s enhanced experiences at this year’s CIM Convention + Expo
• NexTech will create an exciting and engaging virtual environment for speakers, exhibitors, and delegates    

VANCOUVER British Columbia, Dec. 17, 2020 (GLOBE NEWSWIRE) — NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a leading provider of virtual and augmented reality (AR) experience technologies and services for eCommerce, education, conferences and events today announced that the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) has chosen NexTech’s InfernoAR Experience platform to power its upcoming 2021 Virtual Convention + Expo, which will be hosted May 3-6, 2021. The unique features of a virtual conference provide CIM the opportunity to reach a broad audience without the obstacles of travel restrictions, borders, and the public health risk of large gatherings. The contract is valued at $200,000-$400,000.

Known for drawing international talent and expertise to its technical programming and hosting hundreds of engineering, c-suite and operational professionals within the Canadian mining community, CIM will utilize NexTech’s virtual experience platform to provide global access to educational materials on revolutionary advancements and best practices. Furthermore, this event will create a Global economic opportunity for the top service and solution providers who will now gain transparency and promotion on the global stage.

Angela Hamlyn, CIM Chief Executive Officer comments; “The attendee experiences at our annual CIM convention and expositions have been second to none through our focus on high quality content, valuable networking opportunities attracting leading industry speakers, and showcasing the latest advancements,” She continues;  “NexTech’s platform enables us to create exciting experiences that bring our plenary and keynotes, technical program, site visits, product demonstrations and technical specs into 3D AR models to thousands of attendees’ phones, tablets or computers to help exhibitors showcase their solutions to global buyers while bringing educational materials to CEOs, CFOs, engineers, and operators who, prior to the pandemic, may not have had the opportunity to attend an in-person event.

NexTech will be transforming virtual exhibitor booths into AR-backed experiences that, for the first time in CIM event history, will put large and complex technologies right in your pocket through a phone or mobile device. Speaker sessions, which will feature special guests and surprise experiences, will utilize multi-dimensional broadcast solutions instead of simple webcasts to engage attendees in discussions on how new components including AR and data are revolutionizing mining processes.

Evan Gappelberg, CEO of NexTech AR comments; “We are excited that CIM selected NexTech to help the mining industry take the giant step into a new world of digitized education and experiences by using our cutting edge InfernoAR solutions. NexTech will be transforming virtual exhibitor booths into AR-backed experiences that, for the first time in CIM event history, will put large and complex technologies right in your pocket through a phone or mobile device, which is huge!” He continues; “Speaker sessions,  will feature special guests and surprise experiences, and will utilize multi-dimensional broadcast solutions instead of simple webcasts to engage attendees in discussions on how new components including AR/AI and data are revolutionizing mining processes.” He continues;  “CIM is helping to change how mining professionals in even the most remote locations across the globe, gain access to new insights and solutions and we’re thrilled to help power that vision with our virtual experience platform.”

Canada’s mining industry is one of the largest in the world, producing over 60 different metals and minerals and totaling five percent of Canada’s total nominal GDP at over $97 billion. Many of these metals and minerals will go on to feed global supply chains and support both immediate and long-term product innovation for everything from EVs and batteries to the materials of our everyday lives.

About CIM

The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) has served as the leading technical industry institute in Canada for the past 122 years. CIM is dedicated to the advancement of knowledge, facilitation of innovation, the celebration of excellence and the promotion of sustainable practices across the full spectrum of Canada’s minerals, metals, materials, and petroleum industries. 

Recent Company Highlights in 2020:

December 15, 2020: NexTech announced that it has received conditional approval to list its common shares with the NEO Exchange (“NEO”). Final approval is subject to the Company fulfilling all of NEO’s listing requirements. Subject to final approval by NEO, NexTech’s common shares are expected to be listed on NEO on January 5, 2021.

December 11, 2020: Expanded into China and Hired Steven Seet, as its Senior Director, Asia Pacific. In his new role, Seet will utilize his vast network and industry experience to support NexTech with its rapid expansion into Asia’s MICE industry, which according to Allied Market research is valued at $229 billion.

December 9, 2020:  Announced the launch of a new collaborative streaming solution with AI and AR enhancements, that integrates with its existing Virtual Experience Platform (VXP) and its ARitize SaaS offerings. NexTech will also offer the streaming platform ‘ARoom’, as a stand-alone service externally similar to Zoom, increasing the company’s revenue potential for 2021.

December 8, 2020: Announced that the Canadian Society of Nephrology (CSN) has chosen NexTech AR’s Virtual Experience Platform (VXP) to host its 2021 Annual General Meeting, taking place May 10-13.

December 3, 2020: Company announced that it has achieved a record-breaking 315% increase in Black Friday sales year-over-year across its AR eCommerce platform. With 2020 being a year dominated by coronavirus, shoppers have shown that they will embrace the convenience and safety of online shopping more than ever.

December 2, 2020: Company announced the creation of its new Artificial Intelligence (AI) division. Through a dedicated initial team of three AI experts focused on enhancing NexTech’s AI capabilities, the company aims to gain a competitive edge and create new portfolio offerings to complement its AR; streamlining operations for clients while tapping into a market that is expected to surpass $300 billion in revenues by 2024.

December 1, 2020: The company entered into seven additional strategic channel partnerships bringing the total for the Asia Pacific region to eight. These partner agreements support both the $35B e-learning market and $229B MICE industries, two target sectors that NexTech is focusing on in the Asia Pacific market expansion.

November 23, 2020: The company acquired hybrid event management platform, Map Dynamics. The company’s self-serve hybrid virtual events platform supports live video, chat, networking, and analytics, reporting for associations, conferences, trade shows, webinars, summits, forums, workshops, events. It helps organizers create, host, and manage live events for 100,000+ attendees both online and in its branded native event app.

About NexTech AR
NexTech is one of the leaders in the rapidly growing Augmented Reality market, estimated to grow from USD $10.7B in 2019 and projected to reach USD $72.7B by 2024 according to Markets & Markets Research; it is expected to grow at a CAGR of 46.6% from 2019 to 2024.

The company is pursuing four verticals:

Virtual Experience Platform:  An advanced Augmented Reality and Video Learning Experience Platform for Events, is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality in one secure platform to allow enterprises the ability to create the world’s most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages. According to Grandview Research the global virtual events market in 2020 is $90B and expected to reach more than $400B by 2027, growing at a 23% CAGR.With NexTech’s Virtual Conference Platform having augmented reality, AI, end-to-end encryption and built in language translation for 64 languages, the company is well positioned to rapidly take market share as the growth accelerates globally.

ARitize™ For eCommerce: The company launched its SaaS platform for webAR in eCommerce early in 2019. NexTech has a ​‘full funnel’ end-to-end eCommerce solution for the AR industry including its Aritize360 app for 3D product capture, 3D/AR ads, its ARitize white label app it’s ‘Try it On’ technology for online apparel, 3D and 360-degree product views, and ‘one click buy’.

ARitize™ 3D/AR Advertising Platform: Launched in Q1 2020 the ad platform will be the industry’s first end-to-end solution whereby the company will leverage its 3D asset creation into 3D/AR ads. In 2019, according to IDC, global advertising spend will be about $725 billion.

ARitize™ Hollywood Studios: The studio is in development producing immersive content using 360 video, and augmented reality as the primary display platform.

To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.nextechar.com.

For further information, please contact:
Evan Gappelberg
Chief Executive Officer
[email protected] 

The NEO Exchange has neither approved nor disapproved the contents of this news release and is not responsible for the adequacy and accuracy of the contents herein.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “looking forward” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of NexTech to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. NexTech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

• Innovative, health data integration and security technology solution leveraging various information sharing standards supported by the
  U.S. Department of Justice, the U.S. Department of Homeland Security, U.S Health and Human Services and currently in use by the
  various Government agencies at the Federal, State and Local level
  .
  
• Will expedite CloudMD’s integration of healthcare solutions providing one, digitally connected, patient focused platform.
• Solution will be CloudMD’s technology backbone for continued growth through implementing new technology applications, health-tech solutions and wearable devices.
• Provides immediate pathways for North American expansion and cross-selling opportunities to already established client network.
• Best in class cybersecurity features support U.S. and international security standards.
• Immediately synergistic and accretive, expecting approximately US$ 4.1M revenue in calendar year 2020 with EBITDA margins of 36% with a strong revenue pipeline and growth opportunities.

VANCOUVER, British Columbia, Dec. 17, 2020 (GLOBE NEWSWIRE) — CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a healthcare technology company revolutionizing the delivery of care, is excited to announce that it has signed a binding term sheet (the “Agreement”) to acquire IDYA4, a leading data integration and cybersecurity company based in the United States.

Focused on the health and wellness sector, IDYA4 has built a proprietary technology platform that provides improvements in data access, management, security and integration, as well as proactively providing protection against today’s ever-changing cyber threats. Built on over 20 years of experience, the IDYA4 team has been at the forefront of the development of information sharing and interoperability solutions across all 50 states for clients including, U.S. Department of Justice, the U.S. Department of Homeland Security, U.S Health and Human Services, and National Intelligence. Global legislations are evolving to ensure patients have access to their own healthcare data and are empowering them to take control of their healthcare journeys. IDYA4’s health data platform already leverages critical national and international technology standards and allows providers and patients access to sensitive and private health data in an efficient and intuitive manner with adherence to privacy and security regulations.

The IDYA4 platform is designed to allow various health technology solutions like Electronic Medical Records (EMR), Apps, telehealth solutions and medical devices to connect and share data with all the relevant privacy and data security rules applied that can vary state to state or program to program. The IDYA4 software and team will also immediately help accelerate CloudMD’s integration of its healthcare technology solutions to provide one, digitally connected platform to enable team-based, continuity of care and an ecosystem of healthcare providers focused on the overall health and wellness of the patient. The integrated technology will also be valuable as CloudMD continues to emphasize patient engagement through connected technology, healthcare portals, telehealth applications, and wearable devices.  

In addition to accelerated integration, CloudMD will be able to leverage IDYA4’s already existing relationships and cross-sell its suite of healthcare solutions and enterprise healthcare platform to these clients. This includes offering solutions such as Livecare, Benchmark, Snapclarity and iMD Global Health to IDYA4’s existing and prospective clients to provide an enhanced health and wellness offering.

Using their standard-based interoperable platform, IDYA4 has developed several applications which have been commercialised and continues to develop and add to their portfolio of solutions to address the evolving healthcare landscape and the unmet demand for innovative and secure healthcare solutions. The recently launched Health and Wellness Platform will be deployed to assist First Responders initially and will be rolled out to Public Health, Professional Sports and other communities. This program will address the issues of Behavioural Health including Mental Health and Substance Use Disorder heightened by the COVID-19 pandemic across North America, and will be the core component of CloudMD’s enterprise health solutions.

CloudMD is committed to the privacy and security of patient data, and this integrated health data platform is Health Insurance Portability and Accountability Act (HIPAA) compliant and is enabled for continuous monitoring to ensure the protection and privacy of sensitive data. The platform has been architected to support U.S. and International security standards like the National Institute of Standards and Technology (NIST) Cybersecurity Framework to address internal and external cyber threats.

Amit Mathur, President of CloudMD commented, “Earlier this year we entered into a vendor resale agreement with IDYA4, but after working closely together for a number of months, it’s evident that the synergies between both companies will be instrumental in accelerating the integration of CloudMD’s solutions, continuing the growth and expansion across North America and lastly, ensuring state of the art intelligence and cybersecurity across the platform.” He continued, “The future of healthcare delivery is patient-focused, team-based and digitally connected. This is an exciting inflection point for our Company, as the acquisition of IDYA4 provides CloudMD with a backbone of innovative, proprietary data integration and security technology that will position us as leaders in the healthcare technology sector.”

“Healthcare data integration and security is a complex and critical problem that must be addressed on a global basis.  IDYA4 has prioritized this issue to help government agencies and private health care entities to establish secure integration using a globally recognized standards-based integrated health data platform. Changes are occurring rapidly in current global healthcare legislation to empower patients and ensure their ability to access personal healthcare records and share what is needed with confidence and assurance of its safety.  Our team’s capabilities and depth of knowledge on standards for sharing information, combined with the expertise offered by CloudMD, will provide a holistic, patient-centric approach to care, based on one single and connected platform, transforming the way healthcare is being delivered.  We look forward to working jointly with CloudMD, and through our combined knowledge, expand and grow the capabilities for the critical healthcare environment,” commented, Ashwini Jarral Co-Founder, Chief Operating Officer of IDYA4.

IDYA4’s current annualized revenue run rate, based on the 9-month period ending September 31, 2020, is approximately US$ 4.1-million with EBITDA (earnings before interest, taxes, depreciation and amortization) margins of 36%. Upon closing, the acquisition of IDYA4 will be immediately accretive to CloudMD with synergies the Company believes will drive further revenue and increased EBITDA margin through cost savings achieved through the scaling of operations and by tapping into CloudMD’s current health technology solutions that will be added to IDYA4’s current product portfolio. From IDYA4’s currently commercialised products, the Company expects to achieve an annual Revenue growth rate greater than 45%, calculated based on expected revenue from currently committed and/or high probability contracts forecasted to generate annual gross revenue greater than US$ 6M and US$ 8.5M in calendar years 2021 and 2022, respectively. A total of 30% of the total consideration for the acquisition amounting to US$ 4.44 million is based on two performance based earnouts, 15% each, that are contingent on meeting these forecasted revenue targets.

Terms of agreement

In consideration for the purchase of 100% of the issued and outstanding IDYA4 Securities, CloudMD has agreed to pay aggregate consideration of US$14.8 million payable as follows: (i) US$ 3.7 million in cash, subject to a working capital adjustment; (ii) US$ 6.66 million in common shares of the Company; and (iii) a performance based earnout of US$ 4.44 million, of which US$ 0.44 million is payable in cash and US$4 million is payable in common shares of the company in equal annual issuances over a period of two years. All common shares issued pursuant to the acquisition are issued at a deemed price of $2.16 per share and are priced by calculating the 10-day volume-weighted average trading price of the Company’s shares for the 10 trading days prior to the execution of the binding term sheet. The shares will be subject to certain contractual restrictions on trading for a period of 30 months from the date of issuance.

The acquisition is subject to customary closing conditions, including the execution of a definitive acquisition agreement and receipt of TSX Venture Exchange approval.

About CloudMD Software & Services

CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America. For more information visit: www.cloudmd.ca.

ON BEHALF OF THE BOARD OF DIRECTORS
        
“Dr. Essam Hamza, MD”
Chief Executive Officer

FOR ADDITIONAL INFORMATION CONTACT:

Julia Becker

VP, Investor Relations

[email protected]

Forward Looking Statements

This news release contains forward-looking statements that are based on CloudMD’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans. Although CloudMD believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and CloudMD undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

Non-GAAP and Non-IFRS Measures

This press release refers to “EBITDA” and “EBITDA margins” which are non-GAAP and non-IFRS financial measures that do not have a standardized meaning prescribed by GAAP or IFRS. The Company’s presentation of these financial measures may not be comparable to similarly titled measures used by other companies. These financial measures are intended to provide additional information to investors concerning the Company’s and IDYA4 performance. EBITDA is defined as earnings before interest, taxes, depreciation and amortization and EBITDA margins is defined as EBITDA as a percent of total revenue. EBITDA and EBITDA margins are Non-IFRS measures the Company uses as an indicator of financial health and excludes several items which may be useful in the consideration of the financial condition of the Company and IDYA4, as applicable, including interest expense, income taxes, depreciation, and amortization.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

CALGARY, Alberta, Dec. 17, 2020 (GLOBE NEWSWIRE) — With a vaccine months away from being widely available and Canadians continuing to die at an increasing rate from COVID-19, Rapid Test & Trace Canada announced today the launch of a campaign to raise awareness about how mass rapid testing and contact tracing can stop the spread of COVID-19.

Formed by a coalition of Canada’s top academics and public health professionals and citizens representing businesses from multiple industries, we are asking the federal and provincial governments to immediately implement a nationwide rapid test and trace program, to save lives and allow Canada to safely reopen our economy.

Working with supporters across the country, Rapid Test and Trace Canada has begun discussions with governments, institutions, and businesses to launch pilot projects to demonstrate the effectiveness of rapid testing.

As predicted, the second wave of the virus is devastating Canada as infection rates and hospitalizations rise dramatically, and hundreds of Canadians die needlessly every day.

But it does not have to be this way, and mass rapid testing is the best solution to immediately stop the spread of COVID-19.

Using antigen tests which deliver results in minutes, mass rapid testing involves testing people frequently, regardless of whether they are symptomatic, to detect those who are infectious to treat and isolate them. With effective contact tracing, those who have been exposed to infected people can be tested to stop further spread.

Dr. Michael Mina, a Harvard University epidemiologist and one of our advisors, released a study that provides a blueprint for how rapid testing and tracing could cripple COVID-19 in weeks.

Slovakia has already successfully executed a mass testing campaign, reducing cases by 60%, and pilot studies are mushrooming all over the world.

What is Canada waiting for?

Our team estimates that, for under $2 billion, Canada could test 200,000 people per day immediately, working towards testing five million people per day by April, allowing us to all but eliminate the virus this winter.

None of what we are proposing is controversial or difficult – it simply hasn’t been done and, so far, our provincial governments cannot explain why.

The federal government approved and acquired millions of rapid antigen tests months ago, and they are in the hands of provincial governments.

Rapid tests currently used in Canadian require health professionals to administer them which can be an impediment. Following the United States, Canada must also approve the use of rapid at-home tests for Canadians to test themselves frequently with no barriers.

Now is the time to act, as mass rapid testing can save thousands of lives and deliver major economic benefits.

By advocating for more and better testing and tracing, and developing pilot projects across the country, Rapid Test and Trace Canada is working to protect Canadians’ lives and our economy.

We are calling on Canadians to support this initiative by contacting their local elected officials, signing our online petition and sharing the information about this campaign.

We hope our governments will do the right thing and make rapid tests available to Canadians immediately.

Learn more and take action at RapidTestandTrace.ca

Quotes:

“As a business owner who cares deeply about my community, I have been incredibly frustrated by the government’s failure to implement mass rapid testing. It is the best tool we have to fight COVID-19 while we wait for a vaccine, which is still months away from being widely available,” said co-founder, Sandy White.

“With hundreds of thousands out of work and suffering, and more people dying every day, we are asking the government to act to protect us and to enable us to reopen our country safely. Lockdowns alone won’t do it. We need to be testing extensively using cheap rapid antigen tests now. That our governments are unable to do this is shocking.”

“Canada needs to take advantage of all available tools in dealing with the pandemic. Other countries have had success with rapid testing and there is no legitimate reason for Canada to not incorporate this as part of our overall strategy. I encourage all Canadians to join me in spreading the word about rapid testing to help stop the spread of COID-19,” said co-founder, Adam Singfield.

Dr. David Juncker, a McGill University professor advising Rapid Test and Trace Canada, says, “the best rapid tests are highly accurate at detecting contagious individuals, and could be rolled out immediately as part of pilot programs in areas with the greatest need where disease prevalence is high such as schools, and long-term care homes, including during times of lockdown. As many countries are finding out, people want rapid tests, and governments are the ones holding back.”

For more information, please contact: info@rapidtestandtrace.ca 

HOLLAND, Mich., Dec. 17, 2020 (GLOBE NEWSWIRE) — BluJay Solutions, a leading provider of global supply chain software and services, today announced that FourKites^® has renewed its partnership with BluJay, which provides an out-of-the-box, two-way integration for customers to access FourKites’ visibility data within the BluJay Transportation Management application.

FourKites is the largest predictive supply chain visibility platform in the world, delivering real-time visibility and predictive analytics for the broadest network of Global 1000 companies and third-party logistics firms.

“FourKites’ objective is to collaborate with BluJay on strategic, innovative opportunities to increase the savings we provide customers through our mutual offering,” said Frank Iannotti, Chief Revenue Officer at FourKites. “Through this renewed partnership, FourKites will be able to align our solutions with machine learning-based capabilities and improved, updated integration methods to help ensure our customers are receiving the maximum value across their end-to-end operations.”

“Over the past few years, we have grown our mutual customer base to 30+ enterprise customers and continue to drive innovation and data visibility for our customers. One of the ways we provide incremental value for customers is through partnerships with other industry leaders that enrich our ecosystem,” said Chris Timmer, Chief Revenue Officer at BluJay Solutions. “We are excited to take another step forward with FourKites that reinforces our commitment to providing the capabilities customers need for best-in-class supply chain execution.”

Shippers such as Ace Hardware will be using the integrated offering from BluJay and FourKites to optimize its supply chain network. “We chose FourKites for its proven turnkey integration with our BluJay TMS. With FourKites’ data deeply integrated into BluJay, we have a one-stop shop for information about each shipment. With real-time visibility, we will be able to see the current status of orders for our 4,000+ stores,” said Terrance Howard, Director of Transportation at Ace Hardware.

About FourKites 
FourKites is the largest predictive supply chain visibility platform, delivering real-time visibility and predictive analytics for the broadest network of Global 1000 companies and third-party logistics firms. Using a proprietary algorithm to calculate shipment arrival times, FourKites enables customers to lower operating costs, improve on-time performance and strengthen end-customer relationships. FourKites’ network spans millions of GPS/ELD devices in 176+ countries and covers all modes, including truckload, LTL, ocean, rail, air, intermodal, courier and parcel, and extends real-time visibility into the yard. FourKites has 1 million loads and over $100 billion in freight under management at any given time. The platform is optimized for mobile and equipped with market-leading end-to-end security. To learn more, visit https://www.fourkites.com/.

About BluJay Solutions

BluJay Solutions helps companies around the world achieve excellence in logistics and trade compliance – it’s in our DNA. Through a blend of Data, Networks, and Applications, delivered in the BluJay Way, our DNA platform powers the Frictionless Supply Chain for thousands of the world’s leading manufacturers, retailers, distributors, freight forwarders, customs brokers, carriers, and logistics service providers. To learn more, visit: www.blujaysolutions.com, or follow us on Twitter @myblujay and LinkedIn.

Media Contact: 
Marianna Vyridi 
Big Valley Marketing for FourKites 
(650) 468-3263 
[email protected]