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BISMARCK, N.D., Dec. 17, 2020 /PRNewswire/ —  BNCCORP, INC. (BNC or the Company) (OTCQX Markets: BNCC) today announced that its Board of Directors has declared a special, one-time cash dividend of $8.00 per share of BNCCORP, INC. common stock. The dividend is payable on February 1, 2021, to holders of record on January 14, 2021. The aggregate payment to be made in connection with the dividend will be approximately $28.7 million.

BNC also announced that its Board of Directors has approved a share repurchase authorization for the Company to purchase up to 175,000 shares of its common stock. Repurchases may be made from time to time in open market transactions, in unsolicited and solicited privately negotiated transactions, or by other means in accordance with federal securities laws. The repurchase authorization does not require BNC to acquire any particular number of shares and repurchases may be extended, modified, amended, suspended, or discontinued at any time at the Company’s discretion. The amount and timing of repurchases are subject to a variety of factors including liquidity, share price, general market and economic conditions, and applicable legal and regulatory requirements.

BNC Chairman Michael Vekich said, “Our capital management philosophy includes the return of capital to shareholders in excess of what is invested to maintain our businesses, deployed for profitable investments, or retained as a capital reserve and liquidity buffer for the Company and BNC National Bank. The special dividend and share repurchase authorization highlights our continuing confidence in our financial strength and flexibility. Given the volatility of the economy, we will continue to monitor the economic environment and make prudent decisions regarding capital management and deployment.”

About BNCCORP, INC.

BNCCORP, INC., headquartered in Bismarck, N.D., is a registered bank holding company dedicated to providing banking and wealth management services to businesses and consumers in its local markets. The Company operates community banking and wealth management businesses in North Dakota, Arizona, and Minnesota from 13 locations. BNC also conducts mortgage banking from 11 locations in Illinois, Kansas, Missouri, Michigan, Arizona, and North Dakota.

This news release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance, capital allocation, return of capital to shareholders and business of BNC. Forward-looking statements, which may be based upon beliefs, expectations, and assumptions of our management and on information currently available to management are generally identifiable by the use of words such as “expect”, “believe”, “anticipate”, “at the present time”. “plan”, “optimistic”, “intend”, “estimate”, “may”, “will”, “would”, “could”, “should”, “future” and other expressions relating to future periods. Examples of forward-looking statements include, among others, statements we make regarding our expectations regarding future capital allocation and return of capital to shareholders, future market conditions and our ability to capture opportunities and pursue growth strategies, our expected operating results such as revenue growth and earnings and our expectations of the effects of the regulatory environment or the Coronavirus / COVID-19 pandemic on our earnings for the foreseeable future. Forward-looking statements are neither historical facts nor assurances of future performance. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, but are not limited to: the impact of the Coronavirus / COVID-19 pandemic, the impact of current and future regulation; the risks of loans and investments, including dependence on local and regional economic conditions; competition for our customers from other providers of financial services; possible adverse effects of changes in interest rates, including the effects of such changes on mortgage banking revenues and derivative contracts and associated accounting consequences; risks associated with our acquisition and growth strategies; and other risks which are difficult to predict and many of which are beyond our control. In addition, all statements in this news release, including forward-looking statements, speak only of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.

FOR FURTHER INFORMATION: WEBSITE: www.bnccorp.com  

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SOURCE BNCCORP, INC.

VANCOUVER, BC, Dec. 17, 2020 /PRNewswire/ – Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ:VFF) (TSX:VFF) today announced further expansion of its Cannabis 2.0 offerings, including its first cannabis-infused gummy products based on the propriety technology of White Rabbit OG (“White Rabbit”).

Exclusive Partnership with White Rabbit OG for Edibles Formulation and Manufacture

Pure Sunfarms has entered into an exclusive partnership agreement with White Rabbit, a BC-based craft cannabis food formulation and development company, for the formulation and manufacture of edible cannabis-infused gummies using White Rabbit’s proprietary EAT ME Technology. EAT ME Technology is a proprietary, all-natural emulsion blend that ensures cannabis extract is dispersed equally in each gummy and increases the bioavailability of the THC and CBD molecules, allowing for consistent results and near-perfect dosing. Edibles from both companies will be distributed and sold by Pure Sunfarms under their respective brands.

Pure Sunfarms and White Rabbit cannabis-infused gummies are expected to be the only gummies in Canada that are made using real pure fruit. In addition, they are plant-based, allergen-free, non-GMO, vegan and preservative-free.

“We are thrilled to exclusively partner with White Rabbit OG to develop a unique product made with real fruit. Pure Sunfarms and White Rabbit both share the fundamental belief in providing consumers with a pure cannabis experience, which we know consumers appreciate,” said Mandesh Dosanjh, President and Chief Executive Officer, Pure Sunfarms. “White Rabbit is a true Canadian leader in the formulation of edibles. Combined with the absorption benefits of White Rabbit’s EAT ME Technology, we see lots of potential in this rapidly growing segment of the cannabis market.”

“As an innovative craft BC brand, aligning ourselves with a partner who shares our vision and values, sees the opportunities for growth and is intuitive about what cannabis consumers are looking for is important to us,” said Kyrsten Dewinetz, Co-Founder and Chief Executive Officer, White Rabbit. “We are excited to have partnered with Pure Sunfarms, a well-respected, fast-growing licensed producer, whose approach and commitment to quality is complementary to our own. Together, we look forward to setting the new standard of cannabis edibles, and delivering products that not only taste great, but provide consumers with a high-quality experience.”  

“This partnership is yet another example of our’ prudent, capital-efficient approach to pursuing growth opportunities in cannabis,” said Michael DeGiglio, CEO, Village Farms International.  “We expect edibles to be an increasingly meaningful part of the Canadian cannabis market and exclusively partnering with a formulation and technology leader allows for the expedited launch of unique products with minimal capital investment.”

Pure Sunfarms plans to launch its Pure Sunfarms-branded cannabis-infused gummies in early 2021, while White Rabbit plans to launch its brand to the recreational cannabis retail markets in British Columbia, Alberta, Saskatchewan, and Ontario, as well as nationally through Medical Cannabis by Shoppers in the coming weeks. White Rabbit’s first products will consist of Craft Blueberry and Craft Sour Peach flavours, each offered in packs of four 2.5-mg THC per gummy (total of 10-mg THC per pack), with new flavours and potencies to be added in 2021.

The Pure Sunfarms/White Rabbit partnership agreement is initially for a period of two years, with the option to renew the agreement annually thereafter.

Pure Sunfarms Expands Cannabis 2.0 Offering with Launch of High-THC Vapes and Adds New Strains to its Full Spectrum Vape Collection

Building on the success of its full spectrum vape products, which were launched in Ontario, British Columbia and Alberta, Pure Sunfarms will expand its vape product offering with the introduction of new high-THC vape products in the coming weeks. Each 510 cartridge will feature 840-mg to 900-mg of concentrated THC, intended for consumers seeking a high-THC experience.   

“Our high-THC vape products have just one ingredient: pure cannabis extract,” said Mr. Dosanjh.  “They contain no additives, no alternative botanical ingredients, no flavouring agents, no thinning agents, no additional cannabinoids. And like all Pure Sunfarms’ products, they offer consumers quality at an attractive price.”

Pure Sunfarms will also add two new strains, Critical Kali Mist and Headband, to their full spectrum vape portfolio in the weeks ahead.

About White Rabbit OG

White Rabbit OG is a woman-led, craft cannabis brand based in Surrey, BC. We have taken a step through the looking glass and are reinventing cannabis experiences using culinary techniques that combine our love for real food, science and understanding of consumer trends. Our team has over 40 years experience in food manufacturing, formulation, production, development, and sales, with a specialization in developing food products in multiple categories from benchtop samples to full-scale commercialization. The White Rabbit team has developed a cutting-edge water-soluble emulsion blend named EAT ME Technology, that provides an all-natural, high-quality solution for accurate dosing of cannabinoids with consistent results in food products. We are a team of creators and inventors bringing our imaginations to life for the edible cannabis market.

About Village Farms International, Inc.

Village Farms is one of the largest and longest-operating greenhouse growers in North America, and is leveraging its decades of experience in large-scale, low-cost intensive agriculture and as a vertically integrated produce supplier to pursue high-value, high-growth plant-based Consumer Packaged Goods opportunities in cannabis and CBD in North America and selected markets internationally.

In Canada, British-Columbia-based Pure Sunfarms is one of the single largest cannabis operations in the world, the lowest-cost greenhouse producer, one of the best-selling brands, and has generated profitability for seven consecutive quarters.

In the U.S., subject to compliance with all applicable U.S. federal and state laws, Village Farms is pursuing a strategy to become a leading developer and supplier of branded and white-labeled CBD products targeting “big box” and other major retailers and consumer packaged goods companies, and with one the largest greenhouse operations in country, is well positioned for the potential federal legalization of high-THC cannabis.

Internationally, Village Farms is strategically targeting selected, nascent, legal cannabis and CBD opportunities with significant long-term potential, with an initial focus on the Asia-Pacific region through its investment in Australia-based Altum International.

Cautionary Statement Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is subject to the safe harbor created by those sections. This press release also contains “forward-looking information” within the meaning of applicable Canadian securities law. We refer to such forward-looking statements and forward-looking information collectively as “forward-looking statements”. Forward-looking statements may relate to the Company’s future outlook or financial position and anticipated events or results and may include statements regarding the financial position, business strategy, budgets, expansion plans, litigation, projected production, projected costs, capital expenditures, financial results, taxes, plans and objectives of or involving the Company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities for the Company, the greenhouse vegetable industry or the cannabis industry are forward-looking statements. In some cases, forward-looking information can be identified by such terms as “outlook”, “may”, “might”, “will”, “could”, “should”, “would”, “occur”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “try”, “estimate”, “predict”, “potential”, “continue”, “likely”, “schedule”, “objectives”, or the negative or grammatical variation thereof or other similar expressions concerning matters that are not historical facts. The forward-looking statements in this press release are subject to risks that may include, but are not limited to: our limited operating history, including that of Pure Sunfarms and our start-up operations of growing hemp in the United States; the legal status of Pure Sunfarms cannabis business; risks relating to obtaining additional financing, including our dependence upon credit facilities; potential difficulties in achieving and/or maintaining profitability; variability of product pricing; risks inherent in the cannabis, hemp and agricultural businesses; the ability of Pure Sunfarms to cultivate and distribute cannabis in Canada; existing and new governmental regulations, including risks related to regulatory compliance and licenses (e.g., Pure Sunfarms’ ability to obtain licenses for its Delta 2 greenhouse facility as well as additional licenses under the Canadian act respecting cannabis to amend to the Controlled Drugs and Substances Act, the Criminal Code and other Acts, S.C. 2018, c. 16 (Canada) for its Delta 3 greenhouse facility), and changes in our regulatory requirements; risks relating to conversion of our greenhouses to cannabis production for Pure Sunfarms; risks related to rules and regulations at the U.S. federal (Food and Drug Administration and United States Department of Agriculture), state and municipal levels with respect to produce and hemp; retail consolidation, technological advances and other forms of competition; transportation disruptions; product liability and other potential litigation; retention of key executives; labor issues; uninsured and underinsured losses; vulnerability to rising energy costs; environmental, health and safety risks, foreign exchange exposure, risks associated with cross-border trade; difficulties in managing our growth; restrictive covenants under our credit facilities; natural catastrophes; the ongoing and developing COVID-19 pandemic; and tax risks.

The Company has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. Although the forward-looking statements contained in this press release are based upon assumptions that management believes are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the Company’s control, that may cause the Company’s or the industry’s actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the factors contained in the Company’s filings with securities regulators, including this press release. In particular, we caution you that our forward-looking statements are subject to the ongoing and developing circumstances related to the COVID-19 pandemic, which may have a material adverse effect on our business, operations and future financial results.

When relying on forward-looking statements to make decisions, the Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future results, performance, achievements, prospects and opportunities. The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

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SOURCE Village Farms International, Inc.

ANN ARBOR, Mich., Dec. 17, 2020 /PRNewswire/ — Domino’s Pizza Inc. (NYSE: DPZ) is now offering more than $44,000 in scholarships for full-time students who are enrolled at any of the 37 Historically Black Colleges and Universities that are United Negro College Fund (UNCF) member institutions. The application window for the new UNCF Domino’s Pizza Scholarship is open now through Jan. 12, 2021.

Domino’s established the scholarship as part of a commitment the company made in June 2020 after denouncing all acts of racism, hatred and the unjust treatment of Black people. Domino’s promised to seek meaningful partnerships and back words with actions through new internal programs and contributions to nonprofit organizations.

“Domino’s is thrilled to invite students at any UNCF member institution to apply for the new UNCF Domino’s Pizza Scholarship,” said Ritch Allison, Domino’s chief executive officer. “Supporting Black youth who are pursuing higher education is a priority in our effort to support the Black community and make opportunity more accessible.”

Domino’s will award at least 10 scholarships of up to $4,400 each to students in 2021. Eligible students must hold a minimum cumulative grade point average of 2.5 on a 4.0 scale, complete a FAFSA form and be studying full-time.

To apply, visit the UNCF Domino’s Pizza Scholarship page at uncf.org. Students must submit an online application with a letter of recommendation, a one-page personal statement of career interest and their current transcript. All materials must be received by the Jan. 12, 2021, deadline.

To read about more organizations Domino’s proudly supported in 2020 as part of this commitment, click here.

About Domino’s Pizza^®

Founded in 1960, Domino’s Pizza is the largest pizza company in the world based on retail sales. It ranks among the world’s top restaurant brands with a global enterprise of more than 17,200 stores in over 90 markets. Domino’s had global retail sales of more than $14.3 billion in 2019, with over $7.0 billion in the U.S. and nearly $7.3 billion internationally. In the third quarter of 2020, Domino’s had global retail sales of more than $3.7 billion, with over $1.9 billion in the U.S. and nearly $1.8 billion internationally. Its system is comprised of independent franchise owners who accounted for 98% of Domino’s stores as of the end of the third quarter of 2020. Emphasis on technology innovation helped Domino’s achieve more than half of all global retail sales in 2019 from digital channels. In the U.S., Domino’s generated more than 65% of sales in 2019 via digital channels and has developed several innovative ordering platforms, including those for Google Home, Facebook Messenger, Apple Watch, Amazon Echo, Twitter and more. In 2019, Domino’s announced a partnership with Nuro to further its exploration and testing of autonomous pizza delivery. In mid-2020, Domino’s launched a new way to order contactless carryout nationwide – via Domino’s Carside Delivery™, which customers can choose when placing a prepaid online order.

Order – dominos.com 
Company Info – biz.dominos.com
Media Assets – media.dominos.com

About UNCF 

UNCF (United Negro College Fund) is the nation’s largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports students’ education and development through scholarships and other programs, supports and strengthens its 37 member colleges and universities, and advocates for the importance of minority education and college readiness. UNCF institutions and other historically black colleges and universities are highly effective, nearly 20 percent of African American baccalaureate degrees. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 60,000 students at over 1,100 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized trademark, ‟A mind is a terrible thing to waste.”® Learn more at UNCF.org or for continuous updates and news, follow UNCF on Twitter at @UNCF.

 

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SOURCE Domino’s Pizza, Inc.

SOUTHERN PINES, N.C, Dec. 17, 2020 /PRNewswire/ — First Bank, North Carolina’s largest community bank, made a number of donations of this week to charities within its footprint. These include:

• NourishNC: to support the construction of a new, larger facility that will increase access to and efficiency of its many programs, as well as provide additional storage for fresh and nonperishable food donations.
• The Boys & Girls Club of the Sandhills: in support of a capital project that will allow the nonprofit to purchase and refurbish a new gym for the program.
• The United Way of Asheville and Buncombe County: in support of their many programs and grants to local nonprofits designed to lift up those who are most vulnerable and at risk.
• Feeding the Carolinas: in support of those food banks and charitable agencies in the bank’s footprint that help feed thousands and support those in need.

“Now, more than ever, it is so important to fulfill our mission as a pillar of support in the Carolinas,” said Mike Mayer, First Bank president and CEO. “Our hope is that these donations, in combination with everything else that First Bank team members have done in 2020, will help those who need it most as we look ahead to 2021 and to hopefully brighter days.”

These donations are in addition to several other initiatives First Bank began this year, including the establishment of an annual scholarship at Shaw University (Raleigh, NC), the 12 Days of Giving campaign (currently underway bank-wide in each branch and department), the sponsorship of the EverFi National Financial Bee and subsequent local scholarships this April, and its continued support of and financing for numerous chapters of Habitat for Humanity across the state.

About First Bank

First Bank is the banking subsidiary of First Bancorp and is headquartered in Southern Pines, North Carolina, with total assets of approximately $7.1 billion. As a state-chartered community bank, First Bank operates 101 bank branches in North Carolina and South Carolina. Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions, helpful local expertise, and technology to manage a home or business. First Bancorp’s common stock is traded on the NASDAQ Global Select Market under the symbol “FBNC.” Visit our website at www.LocalFirstBank.com. Member FDIC, Equal Housing Lender.

 

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SOURCE First Bank

DALLAS, Dec. 17, 2020 /PRNewswire/ — Lantern Pharma (Nasdaq: LTRN), a clinical-stage biopharma company using its proprietary RADR^® artificial intelligence (“A.I.”) platform to transform cancer drug development and identify patients who will benefit from its targeted oncology therapeutics, today announced a collaboration and research agreement with the Johns Hopkins Sidney Kimmel Comprehensive Cancer Center and Kennedy Krieger Institute. The collaboration will focus on the further development of Lantern’s LP-184 in glioblastoma multiforme (GBM). Based in Baltimore, Johns Hopkins is a leading research center for brain cancers and one of the largest brain tumor treatment and research centers in the world with a focus on treating an extremely large number of patients affected by all types of brain tumors.

The collaboration will focus on advancing the targeted use of LP-184 in defined subtypes of GBM and clarifying the most promising clinical applications for the drug candidate. The goal of the collaboration is to develop a clinically ready program that has characterized the drug candidate with the most biologically relevant and robust genomic or biomarker signature. By having a gene signature that can be used in identifying patients that have the potential for the highest response, Lantern can potentially accelerate future clinical trials and shorten the time to achieving patient benefit for GBM patients.

The research program is at the forefront of translational cancer medicine and will use patient-derived cancer cells that are studied using physiologically relevant in vitro and in vivo models. This innovative approach allows researchers to more precisely understand the biology of what actually happens inside the cancer tumor, which will more accurately establish the precise biomarker signatures and help provide data-driven insight into additional mechanisms that can be leveraged in the fight against brain cancer.

“Collaborations with world-leading cancer centers are an essential part of our strategy to rapidly advance the insights driving our therapeutic programs and grow the power of our RADR^® A.I. platform by adding millions of new, unique, and proprietary data points in areas of high unmet need in cancer,” said Panna Sharma, CEO of Lantern Pharma. “This relationship with Johns Hopkins is expected to allow us to use state-of-the-art models and biological methods to add more physiologically relevant data and insights into the mechanisms of LP-184, and further shape our algorithms for how our drug candidates interact with specific brain cancer subtypes. We believe the unique insights we gain will equip Lantern with critical advantages in our aim of accelerating LP-184’s path to clinical trials and ultimately commercialization while saving millions of dollars in development costs. This data-enabled and biomarker-based approach has the potential to meaningfully bend the cost curve of cancer drug development and help bring personalized cancer therapies to patients with reduced economic burden, and greater efficacy.”

The research will be led by John Laterra, MD, Ph.D., an internationally recognized researcher in neurology, oncology, and neuroscience. Dr. Laterra serves as the Co-Director of the Brain Cancer Program and the Director of the Division of Neuro-Oncology at Johns Hopkins School of Medicine where he specializes in investigating mechanisms of brain tumor malignancy, tumor vascular biology, and identification of new therapeutic targets in gliomas.

LP-184 is a DNA-damaging small molecule drug candidate currently in preclinical development for certain genomically defined solid tumors, including glioblastomas. As a next-generation alkylating agent that preferentially damages DNA in cancer cells that overexpress certain biomarkers and can cross the blood-brain barrier, we believe LP-184 has the potential to be used as both monotherapy as well as a synergistic agent in combination with other drugs.

“We are focused on finding how LP-184 can exploit certain molecular mechanisms in gliomas to offer improved disease management and survival for glioblastoma patients,” said Dr. Kishor Bhatia, Chief Scientific Officer at Lantern Pharma. Dr. Bhatia continued, “We look forward to our collaboration with Johns Hopkins, the Brain Cancer Program and Dr. Laterra who is at the forefront of GBM research. His approach combines real world patient insights along with advanced methodologies and patient-derived models that can improve the quality of the insight and provide more relevant data on efficacy. We look forward to sharing these results with the broader scientific and clinical community.”

Among several objectives, the research goals are to determine whether certain genomic signatures generated with RADR^®, Lantern’s A.I. platform, can predict response to LP-184 and a more favorable outcome as compared to standard of care agents being used today. LP-184 has been advanced using Lantern’s proprietary RADR^® A.I. platform that leverages over one billion curated cancer data points, machine learning, genomics, and computational biology to accelerate the discovery of potential mechanisms of action, and biomarker signatures that correlate to drug response in cancer patients.

Although significant recent advances have been made in the use of targeted and biomarker-based therapies in cancer, GBM remains an area that has not experienced significant improvement in patient outcomes. The overall five-year survival rate for GBM across all stages remains at only 5.5% in the US, and GBM accounts for nearly 52% of all primary brain tumors each year according to the National Cancer Institute.

About Lantern Pharma

Lantern Pharma (LTRN) is a clinical-stage biopharmaceutical company innovating the repurposing, revitalization and development of precision therapeutics in oncology. We leverage advances in machine learning, genomics, and artificial intelligence by using a proprietary A.I. platform to discover biomarker signatures that help identify patients more likely to respond to our pipeline of cancer therapeutics. Lantern’s focus is to improve the outcome for patients by leveraging our technology to uncover, rescue and develop abandoned or failed drugs. Our current pipeline of three drugs, with two programs in clinical stages and two in preclinical, focuses on cancers that have unique and unmet clinical needs with a clearly defined patient population. We believe that the use of machine learning, genomics and computational methods can help accelerate the revitalization, refocusing and development of small molecule-based therapies. By targeting drugs to patients whose genomic profile identifies them as having the highest probability of benefiting from the drug, this approach represents the potential to deliver best-in-class outcomes. Our team seeks out experienced industry partners, world-class scientific advisors, and innovative clinical-regulatory approaches to assist in delivering cancer therapies to patients as quickly and efficiently as possible. For more information, please visit the company’s website at www.lanternpharma.com or follow the company on Twitter @lanternpharma.

Contact:

Marek Ciszewski, J.D.
Director, Investor Relations
628-777-3167
[email protected]

Forward-looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among other things, statements relating to: future events or our future financial performance; the potential advantages of our RADR^® platform in identifying drug candidates and patient populations that are likely to respond to a drug candidate; our strategic plans to advance the development of our drug candidates; estimates regarding the development timing for our drug candidates; our strategic plans to expand the number of data points that our RADR^® platform can access and analyze; our research and development efforts of our internal drug discovery programs and the utilization of our RADR^® platform to streamline the drug development process; our intention to leverage artificial intelligence, machine learning and genomic data to streamline and transform the pace, risk and cost of oncology drug discovery and development and to identify patient populations that would likely respond to a drug candidate; estimates regarding potential markets and potential market sizes; sales estimates for our drug candidates and our plans to discover and develop drug candidates and to maximize their commercial potential by advancing such drug candidates ourselves or in collaboration with others. Any statements that are not statements of historical fact (including, without limitation, statements to the effect that Lantern Pharma Inc. or our management “believes”, “expects”, “anticipates”, “estimates”, “plans” (and similar expressions) should be considered forward-looking statements. There are a number of important factors that could cause our actual results to differ materially from those indicated by the forward-looking statements, such as (i) the risk that results of our preclinical studies concerning GBM and blood brain barrier permeability for LP-184 may not be indicative of results obtained in future clinical trials; (ii) the risk that our LP-184 drug candidate may not advance through the preclinical development and clinical trial process on a timely basis, or at all; (iii) the risk that the results of such trials will not warrant submission for approval from the United States Food and Drug Administration or equivalent foreign regulatory agencies; (iv) the risk that the Company may not be able to successfully conclude clinical testing or obtain marketing approval for its LP-184 drug candidate, (v) no drug product based on our proprietary RADR A.I. platform has received FDA marketing approval or otherwise been incorporated into a commercial product, and (vi) those other factors set forth in the Risk Factors section in our final prospectus, dated June 10, 2020, for our initial public offering, on file with the Securities and Exchange Commission. You may access our June 10, 2020 final prospectus under the investor SEC filings tab of our website at www.lanternpharma.com or on the SEC’s website at www.sec.gov. Given these risks and uncertainties, we can give no assurances that our forward-looking statements will prove to be accurate, or that any other results or events projected or contemplated by our forward-looking statements will in fact occur, and we caution investors not to place undue reliance on these statements. All forward-looking statements in this press release represent our judgment as of the date hereof, and, except as otherwise required by law, we disclaim any obligation to update any forward-looking statements to conform the statement to actual results or changes in our expectations.

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SOURCE Lantern Pharma

IRVINE, Calif., Dec. 17, 2020 /PRNewswire/ — CalAmp (Nasdaq: CAMP), a global technology solutions pioneer transforming the mobile connected economy, today reported financial results for its third quarter ended November 30, 2020. 

“Our results reflect another quarter of revenue growth from continued strong demand for our global SaaS solutions,” commented Jeff Gardner, CalAmp’s president and chief executive officer. “As we navigate the challenges related to the global pandemic, there are a number of growth trends driving opportunities across our business including the 3G-to-4G transition underway in the U.S. as well as the increasing need for fleet management solutions, especially for municipalities and school districts where we offer leading software solutions.”

“Our business continues to demonstrate strong resiliency and momentum, supported by a solid cash position and balance sheet, as we continue to execute on our operating plan and sharpen the focus on our most profitable lines of business. To that end, after an extensive review of alternatives, we have decided to wind down our LoJack U.S. operations. This decision allows us to focus on our SaaS-based telematics business that we expect to drive faster growth and more predictable revenue streams. This action represents another step towards becoming the global solutions leader in tracking, monitoring and recovering highly-valued mobile assets.”

Third Quarter Fiscal Year 2021 Financial Overview

• Consolidated revenue was $88.0 million, up 5.4% sequentially and down year-over-year due to the ongoing impact of the global pandemic.
• Software & Subscription Services revenue was $34.4 million, up 2.1% sequentially and 3.0% year-over-year, while representing 39.0% of consolidated revenue.
• Telematics Products revenue was $44.1 million, up 8.1% sequentially due to continued strong demand from the 3G-to-4G transition with large customers.
• Sales to its largest customer reached a quarterly record of $16.4 million, representing growth of 19.8% sequentially and 20.5% year-over-year.
• Gross margin increased 290 basis points sequentially to 39.8%, a marked improvement toward the Company’s longer-term gross margin target.
• GAAP net loss was $23.7 million, or a loss of $0.68 per share, which includes a $18.0 million one-time charge for the wind down of its LoJack U.S. operations reflecting a non-cash write down of goodwill, intangibles and other long-lived assets.
• Adjusted basis non-GAAP net income was $2.6 million, or $0.07 per diluted share.
• Operating cash flow was $10.2 million, with adjusted EBITDA increasing to $8.8 million and an adjusted EBITDA margin of 10.0%.
• Ended the quarter with $91.7 million in cash and cash equivalents, after a $20 million pay-down of the remaining balance on its line of credit, and achieved another quarter of positive free cash flow in the amount of $6.7 million.

Update on LoJack U.S. Operations

CalAmp has begun the process to wind down its LoJack U.S. operations, which has historically provided stolen vehicle recovery (SVR) products operating on a radio frequency allocated by the FCC. These products and related services were provided predominately as a hardware-based offering sold only to independent automotive dealerships in the U.S., which no longer aligns to the Company’s core strategy. CalAmp will continue supporting law enforcement partners as part of its commitment to public safety and will orchestrate the wind down in a responsible way, while allowing sufficient time for an orderly transition by existing dealer customers. The Company will continue operating and investing in its highly successful LoJack international business, which operates as a subscription-based business model and is well aligned with the core SaaS strategy. CalAmp believes today’s action will lead to higher revenue growth rates and enhanced profitability.

Other Business and Recent Highlights

• Unveiled iOn™ Tag in Europe and iOn™ Vision initially for U.S. commercial fleets providing an actionable video intelligence solution for fleet safety, reducing insurance premiums, and mitigating liabilities.
• Major North Carolina school district adopted CalAmp’s full suite of school bus tracking, contact tracing and fleet management solutions.
• Partnered with Coastr to revolutionize the car rental industry in the UK with contactless features and on-demand fleet insurance.
• Partnered with Grove & Dean to protect vehicles across Europe and reduce insurance premiums in the U.K.
• Launched predictive maintenance services with PluService in Italy to make public and private transport vehicle maintenance smarter and prevent mechanical downtime.

Fourth Quarter Fiscal 2021 Business Outlook

The Company is maintaining its policy of not providing quarterly guidance as visibility into customer demand and product shipments remains uncertain due to the ongoing effects of the COVID-19 pandemic.

Conference Call and Webcast

CalAmp is hosting a conference call for analysts and investors to discuss its third quarter fiscal year 2021 results at 5:30 a.m. Pacific Time today.  Participants can listen in via webcast by visiting the Investor Relations section of our website at www.calamp.com. Please go to the website at least 15 minutes early to register, download and install any necessary audio software. A replay of the webcast will be available for 90 days after the call.  The conference call can also be accessed by dialing 833-714-0868 (+1-778-560-2625 for international callers) and using the Conference ID # 4587228. Following the call, an audio replay will also be available by calling 800-585-8367 or +1-416-621-4642 and entering the Conference ID# 4587228. The audio replay will be available through December 24, 2020.

About CalAmp

CalAmp (Nasdaq: CAMP) is a global technology solutions pioneer transforming the mobile connected economy. We help reinvent business and improve lives around the globe with technology solutions that streamline complex mobile IoT deployments and bring intelligence to the edge. Our software and subscription-based services, scalable cloud platform and intelligent devices collect and assess business-critical data from mobile assets and their contents. We call this The New How, facilitating efficient decision making, optimizing mobile asset utilization and improving road safety.  CalAmp, headquartered in Irvine, California, has been publicly traded since 1983 and has 20 million products installed and over 1.3 million software and services subscribers worldwide. LoJack®,Tracker™ and Here Comes The Bus® and Bus Guardian are CalAmp brands. For more information, visit calamp.com, or LinkedIn, Facebook, Twitter, YouTube or CalAmp Blog.

Forward-Looking Statements

This announcement contains forward-looking statements (including within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and Section 27A of the U.S. Securities Act of 1933, as amended) concerning CalAmp. These statements include, but are not limited to, statements that address our expected future business and financial performance and statements about (i) our plans, objectives and intentions with respect to future operations, services and products, (ii)  our competitive position and opportunities, and (iii) other statements identified by words such as such as “may”, “will”, “expect”, “intend”, “plan”, “potential”, “believe”, “seek”, “could”, “estimate”, “judgment”, “targeting”, “should”, “anticipate”, “predict” “project”, “aim”, “goal”, and similar words, phrases or expressions. These forward-looking statements are based on management’s current expectations and beliefs, as well as assumptions made by, and information currently available to, management, current market trends and market conditions, and involve risks and uncertainties, many of which are outside of our control, and which may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, you should not place undue reliance on such statements. Particular uncertainties that could materially affect future results include any risks associated with global economic conditions and concerns; the effects of global outbreaks of pandemics or contagious diseases or fear of such outbreaks, such as the recent coronavirus (COVID-19) pandemic; disruptions in sales, operations, relationships with customers, suppliers, employees, and consumers given our decision to wind down LoJack U.S. operations, as well as unanticipated developments that may prevent or delay our wind down activities; our ability to successfully and timely accomplish our transformation to a SaaS company; our transition out of the automotive vehicle financing business; competitive pressures; pricing declines; demand for our MRM products; rates of growth in our target markets; prolonged disruptions of our contract manufacturers’ facilities or other significant operations; force majeure or force-majeure-like events at our contract manufacturers’ facilities; the ongoing diversification of our global supply chain; our dependence on outsourced service providers for certain key business services and their ability to execute to our requirements; our ability to improve gross margin; cost-containment measures; legislative, trade, tariff, and regulatory actions; integration, unexpected charges or expenses in connection with our recent acquisitions; the impact of legal proceedings and compliance risks; implementation of our new ERP system; the impact on our business and reputation from information technology system failures, network disruptions or losses or unauthorized access to, or release of, confidential information; the ability of the Company to comply with laws and regulations regarding data protection; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product and warranty and indemnification claims; our ability to sell to new types of customers and to keep pace with technological advances; market acceptance of the end products into which our products are designed; and other events and trends on a national, regional and global scale, including those of a political, economic, business, competitive, and regulatory nature. More information on these risks and other potential factors that could affect our financial results is included in our filings with the U.S. Securities and Exchange Commission (“SEC”), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings, which you may obtain for free at the SEC’s website at http://www.sec.gov. We undertake no intent or obligation to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events or otherwise, which speak as of their respective dates except as required by law.

Non-GAAP Financial Measures

“GAAP” refers to financial information presented in accordance with U.S. Generally Accepted Accounting Principles. This announcement includes non-GAAP financial measures, as defined in Regulation G promulgated by the SEC. We believe that our presentation of non-GAAP financial measures provides useful supplementary information to investors. These non-GAAP financial measures are provided in addition to, and not as a substitute for measures of financial performance prepared in accordance with GAAP.

In this announcement, we report the non-GAAP financial measures of Adjusted basis net income (loss), Adjusted basis net income (loss) per diluted share, Adjusted EBITDA (Earnings Before Investment Income, Interest Expense, Taxes, Depreciation, Amortization, stock-based compensation, acquisition and integration expenses, non-cash costs and expenses arising from purchase accounting adjustments, litigation provisions, impairment loss and certain other adjustments as detailed in the accompanying non-GAAP reconciliation), and Adjusted EBITDA margin. Adjusted basis net income (loss) excludes the impact of intangible assets amortization expense, stock-based compensation, non-cash interest expense, acquisition and integration expenses, non-cash costs and expenses arising from purchase accounting adjustments, litigation provisions, income tax provision adjustments, impairment loss and certain other adjustments as shown in the non-GAAP reconciliation provided in the table at the end of this announcement.  We use these non-GAAP financial measures to provide investors with additional information about our financial performance and future prospects of our core business activities. Internally, these non-GAAP measures are significant measures used by management for purposes of evaluating our core operating performance, establishing internal budgets, calculating return on investment for development programs and growth initiatives, comparing performance with internal forecasts and targeted business models, strategic planning, evaluating and valuing potential acquisition candidates and how their operations compare to our operations, and benchmarking performance externally against our competitors. We believe this non-GAAP financial information provides additional insight into our ongoing performance and have therefore chosen to provide this information to investors to help them evaluate our results of ongoing operations and enable additional period-to-period comparisons. The presentation of these and other similar items in our non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent, or unusual.

CalAmp, LoJack, TRACKER, Here Comes The Bus, Bus Guardian, iOn Vision and associated logos are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.

 

 

CALAMP CORP.

RECONCILIATION OF NON-GAAP MEASURES TO GAAP

(Unaudited)

GAAP refers to financial information presented in accordance with U.S. Generally Accepted Accounting Principles. This announcement includes historical non-GAAP financial measures, as defined in Regulation G promulgated by the Securities and Exchange Commission.  We believe that our presentation of historical non-GAAP financial measures provides useful supplementary information to investors.  The presentation of historical non-GAAP financial measures is not meant to be considered in isolation from or as a substitute for results prepared in accordance with GAAP.

In this announcement, we report the non-GAAP financial measures of Adjusted basis net income (loss), Adjusted basis net income (loss) per diluted share, Adjusted EBITDA (Earnings Before Investment Income, Interest Expense, Taxes, Depreciation, Amortization and stock-based compensation, impairment loss and other adjustments as identified below), and Adjusted EBITDA margin. We use these non-GAAP financial measures to provide investors with an overall understanding of the financial performance and future prospects of our core business activities. Specifically, we believe that the use of these non-GAAP measures facilitates the comparison of results of core business operations between its current and past periods.  

The reconciliation of GAAP basis net loss to Adjusted basis (non-GAAP) net income (loss) is as follows (in thousands except per share amounts):

The reconciliation of GAAP-basis net loss to Adjusted EBITDA and the calculation of Adjusted EBITDA margin are as follows (dollars in thousands):

 

 

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SOURCE CalAmp

SAN DIEGO, Dec. 17, 2020 /PRNewswire/ — Evofem Biosciences, Inc., (NASDAQ: EVFM) today announced that its pivotal Phase 3 trial, ‘EVOGUARD,’ of EVO100 for the prevention of chlamydia and gonorrhea remains firmly on schedule. EVOGUARD was initiated and the first patient was enrolled in October 2020, and study enrollment targets were met in both October and November 2020 despite the ongoing COVID-19 pandemic.

“Inbound interest has been exceptionally high from women and study centers alike, with more than double the number of planned sites requesting to participate in this important clinical trial,” said Kelly Culwell, MD, Chief Medical Officer of Evofem Biosciences. “Approximately one-third of participating study centers will be up and running by year-end 2020. We will activate all remaining sites in 2021, and expect to complete enrollment of this 1,730-patient trial by year-end 2021.”

Despite the CDC recommendation for condom use to prevent sexually transmitted infections (STIs), rates of infection with Chlamydia trachomatis and Neisseria gonorrhea climbed in 2018 for the fifth consecutive year in the United States.¹  A large number of cases are not reported because most people with chlamydia are asymptomatic and do not seek testing.

“Any sexually active person can be infected with chlamydia or gonorrhea, and despite current preventive measures, such as condoms, the number of reported cases of these STIs continues to rise,” said Valerie Sorkin-Wells, M.D., FACOG, of the Arizona Wellness Center for Women and a Principal Investigator in the EVOGUARD clinical trial. “If the results of the ongoing EVOGUARD trial confirm the statistically significant AMPREVENCE trial results, EVO100 could be an important new method to prevent the transmission of chlamydia and gonorrhea in women.”

EVO100 is an investigational vaginal gel designed to modulate vaginal pH in the normal acidic range. It was previously evaluated in a double-blinded, placebo-controlled Phase 2b trial, AMPREVENCE, conducted in 860 women at 50 U.S. study centers. This landmark study met its primary and secondary efficacy endpoints, with statistically significant reductions in chlamydia and gonorrhea infection rates in women receiving EVO100 versus placebo.  There was a 50% reduction of risk in chlamydia infection and 78% reduction of risk in gonorrhea infection following 16 weeks of EVO100 use compared with placebo, and EVO100 was generally well tolerated with most side effects being mild to moderate. These positive and statistically significant outcomes were presented at the Virtual 2020 STD Prevention Conference in September 2020.

Chlamydia is the most frequently reported bacterial sexually transmitted infection in the United States². It can cause cervicitis in women and urethritis and proctitis in both men and women, and chlamydial infections in women can lead to serious consequences including pelvic inflammatory disease (PID), tubal factor infertility, ectopic pregnancy, and chronic pelvic pain.

Gonorrhea, the second most frequently reported infectious disease in the United States, is increasingly becoming antibiotic resistant, making it much harder, or sometimes impossible, to treat.³ 

The California Department of Public Health has received increasing reports of disseminated gonococcal infections (DGI), an uncommon but severe complication of untreated gonorrhea⁴. DGI occurs when Neisseria gonorrhoeae invades the bloodstream and spreads to distant sites in the body, leading to clinical manifestations such as septic arthritis, polyarthralgia, tenosynovitis, petechial/pustular skin lesions, bacteremia, or, on rare occasions, endocarditis or meningitis.

EVO100 has been granted Fast Track Designation for the prevention of chlamydia in women by the FDA. The vaginal pH modulator is also an FDA-designated Qualified Infectious Disease Product (QIDP) for the prevention of gonorrhea in women. Under QIDP guidelines, EVO100 is eligible for certain incentives, including priority review associated with a New Drug Application (NDA) submission and a five-year extension of market exclusivity upon FDA approval for this indication.

About EVOGUARD


EVOGUARD
 is a double-blind, placebo-controlled Phase 3 clinical trial designed to evaluate the safety and efficacy of EVO100 for the prevention of urogenital Chlamydia trachomatis and Neisseria gonorrhea infection in women.  The study will enroll 1,730 women who have had a urogenital chlamydia or gonorrhea infection at any time over the 16 weeks preceding the Enrollment Visit along with one or more risk factors for infection.  Participating women will be randomized at 90 study centers in the United States  to receive either EVO100 vaginal gel or placebo, and will remain in the study until completion of 16 weeks of study medication or observation or testing positive for chlamydia or gonorrhea infection. For more information, please visit www.evoguardstudy.com/ct/.

EVOGUARD is funded in part by a strategic investment in Evofem by Adjuvant Capital, LLC.

About Evofem Biosciences

Evofem Biosciences, Inc., (NASDAQ: EVFM) is a commercial-stage biopharmaceutical company committed to developing and commercializing innovative products to address unmet needs in women’s sexual and reproductive health, including hormone-free, woman-controlled contraception and protection from certain sexually transmitted infections (STIs). The Company’s first commercial product, Phexxi® (lactic acid, citric acid and potassium bitartrate), is the first and only hormone-free, prescription vaginal gel approved in the United States for the prevention of pregnancy. The Company is evaluating EVO100 in a Phase 3 clinical trial, ‘EVOGUARD,’ for the prevention of urogenital Chlamydia trachomatis and Neisseria gonorrhoeae infection in women. For more information, please visit www.evofem.com.

Phexxi® is a registered trademark of Evofem Biosciences, Inc.

Forward Looking Statements

This press release includes “forward-looking statements,” within the meaning of the safe harbor for forward-looking statements provided by Section 21E of the Securities Exchange Act of 1934, as amended; and the Private Securities Litigation Reform Act of 1995, including, without limitation, statements related to the ongoing EVOGUARD clinical trial of EVO100 for prevention of Chlamydia trachomatis and Neisseria gonorrhoeae infection in women. Various factors could cause actual results to differ materially from those discussed or implied in the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Important factors that could cause actual results to differ materially from those discussed or implied in the forward-looking statements, or that could impair the value of Evofem Biosciences’ assets and business, are disclosed in Evofem’s SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on March 12, 2020, its Quarterly Report on Form 10-Q for the quarter ended March 31 filed with the SEC on May 6, 2020 and August 4, 2020, and its Current Report on Form 8-K filed with the SEC on June 2, 2020. All forward-looking statements are expressly qualified in their entirety by such factors. Evofem does not undertake any duty to update any forward-looking statement except as required by law.

References

¹ Centers for Disease Control and Prevention (2019): 2018 STD Surveillance Report.
² Chlamydia, gonorrhea, trichomonas and syphilis: global prevalence and incidence estimates. June 6, 2019.
³ Centers for Disease Control and Prevention (2018): Antibiotic-Resistant Gonorrhea Basic Information.
⁴ California Department of Public Health Dear Colleague Letter – Increasing Reports of Disseminated Gonococcal Infection in CA. November 5, 2020.

Investor Relations Contact

Amy Raskopf

Evofem Biosciences, Inc.
[email protected] 
Mobile: (917) 673-5775

Media Contact

Ellen Thomas

Evofem Biosciences, Inc.
[email protected]
Mobile: (718) 490-3248

 

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SOURCE Evofem Biosciences, Inc.

Verizon Media will develop first of its kind VR experience for live sports viewing as part of deal with Entain

New YouGov Research Reveals interactivity and social media are transforming 


Gaming and Entertainment

LONDON, Dec. 17, 2020 /PRNewswire/ — Verizon Media, the global media and technology company and Entain plc (LSE: ENT), the international sports-betting and gaming operator (formerly known as GVC Holdings), today announced a global innovation alliance to develop new opportunities across interactive sports and entertainment.  Entain brands include Ladbrokes, bwin, partypoker, and BetMGM in the United States, which is co-owned with MGM Resorts.

The new alliance coincides with initial findings from new research for Entain by YouGov, revealing that the use of technology is increasingly shaping consumer behaviours in gaming and entertainment around the world, notably in the United States and Australia.  Social media has become central to consumer enjoyment, with new immersive experiences, driven by virtual reality and 5G, accelerating growth of both gaming and e-sports.

Verizon Media and Entain will collaborate to develop a first-of-its-kind highly immersive proof of concept virtual reality experience, that will combine live sports viewing with interactive layers of sports data and gaming. Consumers will be able to participate in sports events, check data, socialise with friends, and place bets on Entain platforms.    

Additionally, Entain will work closely with Verizon Media to develop concepts for new formats with emerging technologies like 5G, virtual reality, and augmented reality to bring the best experiences in immersive content and gaming to sports betting and gambling.  Along with betting on the Entain platforms on live streaming sports events, the goal is to create realistic, immersive experiences for sports fans, such as being in the stadium, participating in play, competing and betting on outcomes on the Entain platforms. 

“To win in the future we need to understand where consumers will be in five, ten years’ time and work with other global businesses also investing in that,” said Shay Segev, CEO of Entain. “We envisage consumers meeting at a game with friends, who could in fact be elsewhere, using virtual reality headsets to watch, interact and share the experience together and, potentially, compete between themselves at half time or feel like they’re on the pitch with the players.” 

“This new alliance takes the collaboration between our two companies to a new level and will allow us both to maximize new opportunities across sports-betting, content and entertainment,” said Guru Gowrappan, CEO, Verizon Media. “Together, we are building the next-generation of content experiences for sports and gaming fans. Our world-first 5G-enabled production studios in LA and London, creative technology teams and Verizon Media’s Immersive platform, that enables extended reality (XR) content to be created and distributed across digital channels at scale, allow partners like Entain to bring next-level immersive and interactive experiences to their customers.” 

The collaboration builds on an existing successful relationship between Yahoo Sports, part of Verizon Media, and BetMGM, a joint venture with MGM Resorts through which Entain operates in the United States.  BetMGM is integrated throughout Yahoo Sports in the US, and in legal jurisdictions fans can place a bet with BetMGM without leaving the Yahoo Sports app.

The new alliance coincides with first findings of new research for Entain from YouGov, revealing that gaming and entertainment is converging across multiple devices and becoming increasingly interactive, with two-thirds of consumers combining it with social media to increase their enjoyment. According to YouGov, 31% of 25 to 39-year-olds and 34% of over 55’s also engage digitally to increase their enjoyment of watching sport.

 

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SOURCE Entain Plc

–Safe Space Technology™–

TORONTO, Dec. 9, 2020 /PRNewswire/ – Kontrol Energy Corp. (CSE: KNR) (OTCQB: KNRLF) (FSE: 1K8) (“Kontrol” or “Company“) is pleased to announce that it will be hosting a webinar presentation  for investors, analysts and media for its Covid-19 detection technology (“BioCloud analyzer” or “BioCloud”). The purpose of the presentation is to provide an operating demonstration and take questions from the audience.

“Following the filing of our patent applications we are excited to demonstrate how the BioCloud technology operates and share that with the public,” says Paul Ghezzi, CEO Kontrol. “We will be providing a demonstration of BioCloud and access to the inner workings of the technology.”

As previously announced on November 30, 2020, Kontrol has filed the following four patent applications for its BioCloud technology and the Company is pleased to provide the patent references:

UNITED STATES: Application No. 17/105,793
SYSTEM AND METHOD FOR DETECTING AIRBORNE PATHOGENS

UNITED STATES: Application No. 17/105,813
SYSTEM AND METHOD FOR OPTICAL DETECTION OF PATHOGENS

UNITED STATES: Application No. 17/105,804
COLLECTION CHAMBER FOR AN AIR SAMPLING SYSTEM

CANADA

SYSTEM AND METHOD FOR DETECTING AIRBORNE PATHOGENS

About Kontrol BioCloud^TM

BioCloud is a real-time analyzer designed to detect airborne viruses. It has been designed to operate as a safe space technology by sampling the air quality over time. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and an alert system is created in the Cloud or over local intranet. BioCloud has been designed for spaces where individuals gather including classrooms, offices, retirement homes, hospitals, mass transportation and others.

Additional information about Kontrol BioCloud can be found on its website at www.kontrolbiocloud.com

BioCloud is an air quality technology and not a medical device. The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus). Safe Space Technology is a Kontrol Trademark.

About Kontrol Energy

Kontrol Energy Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol Energy provides a combination of software, hardware, and service solutions to its customers to improve energy management, air quality and continuous emission monitoring.

Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.comand by reviewing its profile on SEDAR at www.sedar.com

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. 

Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.

However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies will not prove as effective as expected, that customers and potential customers will not be as accepting of the Company’s product and service offering as expected, and government and regulatory factors impacting the energy conservation industry. In particular, successful development and commercialization of the Kontrol BioCloud Analyzer are subject to the risk that the Kontrol BioCloud Analyzer may not prove to be successful in detecting the virus that causes COVID-19 effectively or at all, uncertainty of timing or availability of any regulatory approvals and Kontrol’s lack of track record in developing products for medical applications.

Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date.  Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.

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SOURCE Kontrol Energy Corp.

CHATTANOOGA, Tenn., Dec. 17, 2020 /PRNewswire/ — Unum Group (NYSE: UNM) today announced that three of its insurance company subsidiaries have entered into an agreement to reinsure a substantial portion of Unum’s Closed Individual Disability Insurance Block (“IDI”) business, backed by approximately $7.1 billion in reserves, to a subsidiary of Global Atlantic through a coinsurance arrangement. Global Atlantic’s subsidiary will maintain over-collateralized trust accounts for the benefit of each Unum ceding company to secure its obligations under the relevant reinsurance agreement. Unum will continue to provide service and administration for the reinsured IDI business.

Once the transaction is fully executed, assuming receipt of all consents and regulatory approvals, Unum expects to release approximately $600 million of capital backing the block. Initially, the released capital is expected to be held at the holding company, increasing capital flexibility during the current challenging economic environment. There is expected to be minimal impact to the weighted average risk-based capital ratio and statutory operating earnings of its U.S. traditional insurance subsidiaries once the transaction is fully completed.

“With this agreement, we continue to make meaningful steps in actively managing the Closed Block to increase our financial flexibility and further rebalance our portfolio to more capital efficient businesses,” said Richard P. McKenney, president and chief executive officer.  “Looking forward, we remain focused on delivering growth in our core businesses while continuing to pursue additional opportunities to optimize our capital and balance sheet for long-term shareholder value.”

Unum will retain the multi-life IDI block that is reported as part of the Unum US Supplemental & Voluntary segment, which continues to be an important element of the Company’s core growth strategy. The Company will also retain certain Closed Block IDI business not reinsured as part of the transaction, as well as certain assets with yields exceeding current market levels, which will support yields for other product lines, including long-term care.

As part of the transaction, a subsidiary of Unum will provide a 12-year volatility cover for the active life cohort, which represents approximately 5 percent of the total statutory reserves of the IDI block reinsured by Global Atlantic’s subsidiary. At the end of the coverage period, Global Atlantic’s subsidiary will retain the risk for the remaining incidence and claims risk on the block.

Unum and Global Atlantic will complete the reinsurance transaction in two phases. During December 2020, approximately 75% of the in-force IDI block, primarily direct business written by the Unum ceding companies, will be reinsured to Global Atlantic’s subsidiary effective as of July 1, 2020. Additional IDI business, consisting of direct business not ceded at the first closing in December 2020 and business assumed by Unum from third parties, will be reinsured in the first quarter of 2021, subject to receipt of required consents and regulatory approvals.

The total net considerations to be paid to Global Atlantic’s subsidiary at the closing of the first phase of the reinsurance transaction is approximately $376 million, which will be offset by cash tax benefits. The ceding commission for the second phase of the reinsurance transaction is subject to adjustment based on the consents actually received.  The payment for the volatility cover is also subject to adjustment based on the consents actually received.

Morgan Stanley & Co. LLC and Rothschild & Co acted as financial advisors and Debevoise & Plimpton LLP served as legal counsel to Unum in connection with this transaction.

2021 OUTLOOK MEETING INFORMATION
Members of Unum Group senior management will host its virtual annual investor meeting on Thursday, December 17^th at 8:00 a.m. (Eastern Time) to discuss Unum’s 2021 outlook and the reinsurance transaction.

The meeting will be simulcast via an audio & video webcast and will be accessible through the company’s website at www.unum.com in the “Investors” section.

ABOUT UNUM
Unum Group (www.unum.com) provides a broad portfolio of financial protection benefits and services through the workplace, and is a leading provider of disability income protection worldwide. Through its Unum US, Unum UK, Unum Poland, and Colonial Life businesses, the company provides disability, life, accident, critical illness, dental and vision benefits that protect millions of working people and their families. Unum also provides leave and absence management services that streamline the leave experience for employers and employees, and stop-loss coverage to help self-insured employers protect against medical costs. Unum reported revenues of $12.0 billion in 2019 and provided $7.5 billion in benefits.

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SAFE HARBOR STATEMENT
Certain information in this news release constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those not based on historical information, but rather relate to our outlook, future operations, strategies, financial results, or other developments and speak only as of the date made. These forward-looking statements are subject to numerous assumptions, risks, and uncertainties, many of which are beyond our control. The following factors, in addition to other factors mentioned from time to time, may cause actual results to differ materially from those contemplated by the forward-looking statements: (1) the impact of the COVID-19 pandemic on our business, financial position, results of operations, liquidity and capital resources, and overall business operations; (2) sustained periods of low interest rates; (3) fluctuation in insurance reserve liabilities and claim payments due to changes in claim incidence, recovery rates, mortality and morbidity rates, and policy benefit offsets; (4) unfavorable economic or business conditions, both domestic and foreign, that may result in decreases in sales, premiums, or persistency, as well as unfavorable claims activity; (5) changes in, or interpretations or enforcement of laws and regulations; (6) a cyber attack or other security breach could result in the unauthorized acquisition of confidential data; (7) the failure of our business recovery and incident management processes to resume our business operations in the event of a natural catastrophe, cyber attack, or other event; (8) investment results, including, but not limited to, changes in interest rates, defaults, changes in credit spreads, impairments, and the lack of appropriate investments in the market which can be acquired to match our liabilities; (9) increased competition from other insurers and financial services companies due to industry consolidation, new entrants to our markets, or other factors; (10) changes in our financial strength and credit ratings; (11) our ability to develop digital capabilities or execute on our technology systems upgrades or replacements; (12) actual experience in the broad array of our products that deviates from our assumptions used in pricing, underwriting, and reserving; (13) availability of reinsurance in the market and the ability of our reinsurers to meet their obligations to us; (14) ability to generate sufficient internal liquidity and/or obtain external financing; (15) damage to our reputation due to, among other factors, regulatory investigations, legal proceedings, external events, and/or inadequate or failed internal controls and procedures; (16) effectiveness of our risk management program; (17) contingencies and the level and results of litigation; (18) ineffectiveness of our derivatives hedging programs due to changes in the economic environment, counterparty risk, ratings downgrades, capital market volatility, changes in interest rates, and/or regulation; (19) fluctuation in foreign currency exchange rates; and (20) recoverability and/or realization of the carrying value of our intangible assets, long-lived assets, and deferred tax assets.

For further discussion of risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see Part I, Item 1A of our annual report on Form 10-K for the year ended December 31, 2019, and Part II, Item 1A of our quarterly report on Form 10-Q for the quarter ended September 30, 2020. The forward-looking statements in this news release are being made as of the date of this news release, and we expressly disclaim any obligation to update or revise any forward-looking statement contained herein, even if made available on our website or otherwise.

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SOURCE Unum Group