Market Newsdesk

HICKSVILLE, NY, Dec. 09, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Can B Corp. (OTCQB: CANB) (“Can B” or the “Company”), a diversified health and wellness company, announced today that it will be presenting at the 13th annual LD Micro Main Event investor conference on Tuesday, December 15 at 9 am EST. Chief Executive Officer Marco Alfonsi and Chief Financial Officer Stan Teeple will be presenting to a live, virtual audience. 

Register here: 

ve.mysequire.com/

The Main Event will feature a new and unique format, with companies presenting for 10 minutes, followed by 10 minutes of Q&A by a panel of investors and analysts. 

“The time has finally come to do something different in the virtual conference world. Let’s see if we can pull off something that can be enjoyed by both executives and investors alike,” stated Chris Lahiji, Founder of LD, now a wholly-owned subsidiary of SRAX, Inc.

The Main Event will take place on December 14th and 15th, exclusively on the Sequire Virtual Events platform. 

View Can B’s profile here: 

http://www.ldmicro.com/profile/CANB

About LD Micro/SEQUIRE

LD Micro began in 2006 with the sole purpose of being an independent resource to the microcap world. What started as a newsletter highlighting unique companies, has transformed into the pre-eminent event platform in the space. For more information, please visit ldmicro.com.

The upcoming Main Event will be highlighting a new format that will benefit both executives and the investors tuning in from all over the globe. 

In September 2020, LD Micro. Inc. was acquired by SRAX, Inc., a financial technology company that unlocks data and insights for publicly traded companies. Through its premier investor intelligence and communications platform, Sequire, companies can track their investors’ behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information on SRAX, visit srax.com and mysequire.com.

About Can B Corp.

Can B Corp. (OTCQB: CANB) is a Health & Wellness company providing the highest quality cannabidiol (CBD) products under the brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. Can B is also an exclusive partner of the LifeGuard® Brand in developing a line of consumer products. The Company is also launching Super Foods, a line of nutritional supplements. Can B Corp. owns and operates an R&D and production facility in Lacey, WA, and Green Grow Farms, a licensed hemp grow and cultivation in New York. To learn more about Can B Corp. and our comprehensive line of high-quality CBD products, please visit: Canbiola.com and www.CanBCorp.com, follow Can B Corp on Instagram and Facebook, or visit one of the 1,000+ retail outlets that carry Can B Corp. products.

For more information about Can B Corp., please visit: CanBCorp.com

Twitter @CanBCorp

Instagram @canbcorp

Facebook @ Can B Corp

Forward-Looking Statements

Forward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect,” and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape, or manner of our future financial condition or stock price. Except as required by law, we undertake 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.

Investors and Media:

[email protected]

(917) 658-7878

•	Integra continues to intersect high-grade gold-silver vein mineralization at Florida Mountain. Highlight intercepts include:
	○	Drill Hole FME-20-085 (Within and below existing resource estimate)
		▪	4.53 grams per tonne (“g/t”) gold (“Au”) and 262.67 g/t silver (“Ag”) (7.91 g/t gold equivalent (“AuEq”)) over 85.35 meters (“m”)
			•	Including 11.74 g/t Au and 652.45 g/t Ag (20.14 g/t AuEq) over 30.48 m
	○	Drill Hole FME-20-086 (50m beneath existing resource estimate)
		▪	0.55 g/t Au and 18.16 g/t Ag (0.79 g/t AuEq) over 123.14 m
			•	Including 9.98 g/t Au and 16.43 g/t Ag (10.19 g/t AuEq) over 1.22 m
	○	Drill Hole FME-20-087 (230 mbeneath existing resourceestimate along the Alpine Vein)
		▪	1.76 g/t Au and 347.37 g/t Ag (6.23 g/t AuEq) over 1.37 m
	○	Drill Hole FME-20-088 (220m beneath the existing resourceestimate along the Trade Dollar Vein)
		▪		13.36 g/t Au and 13.04 g/t Ag (13.53 g/t AuEq) over 2.44 m
	○	Drill Hole FME-20-091 (30m south of existing resource estimate)
		▪	2.36 g/t Au and 2.38 g/t Ag (2.39 g/t AuEq) over 30.93 m
			•	Including 14.49 g/t Au and 9.94 g/t Ag (14.62 g/t AuEq) over 3.96 m
	○	Drill Hole FME-20-093 (250m south of existing resource estimate)
		▪	8.61 g/t Au and 479.00 g/t Ag (14.78 g/t AuEq) over 1.61 m

•	Multiple intercepts reported in today’s results occurred beneath and/or to the south of the existing NI 43-101 Resource Estimate at Florida Mountain, demonstrating the strong potential for resource expansion to the south of the current resource as well as at depth.
•	To date Integra has drilled 20 drill holes at Florida Mountain specifically targeting high-grade shoots. Of these 20 drill holes, 13 have intersected significant high-grade gold-silver mineralization.
•	Three exploration drill rigs are currently in operation at DeLamar, with one rig at each of Florida Mountain, Milestone and Blacksheep/Georgianna.
•	A video summary of today’s news release is available by clicking the following link:
	○	https://youtu.be/jtZlDdmX7D8

VANCOUVER, British Columbia, Dec. 09, 2020 (GLOBE NEWSWIRE) — Integra Resources Corp. (“Integra” or the “Company”) (TSX-V:ITR; NYSE American: ITRG) is pleased to announce further exploration results from the 2020 Florida Mountain exploration program at the DeLamar Project, situated in Owyhee County in southwest Idaho. The drill results outlined today continue to underscore the strong exploration potential that exists in near-deposit targets at Florida Mountain.

“Florida Mountain continues to demonstrate potential for both low-grade, heap-leachable resource expansion as well as the potential for a high-grade resource below and within the existing NI 43-101 Resource Estimate. Drilling has intersected significant mineralization outside the known resource, potentially increasing the resource footprint by approximately 300 meters to the south. Drilling through the current resource envelope at Florida Mountain has also encountered multiple shoots of higher-grade material that could potentially positively affect the economics of the Project,” commented George Salamis, President and CEO of Integra Resources. “The hit-rate of high-grade gold and silver in drill sections outside of the known resource boundary, in the form of plunging shoots and vein extensions, is over 60 %, an impressive rate for exploration that validates the geological model developed by the exploration team. Furthermore, additional data from drilling at Florida Mountain continue to strengthen the geological model and controls of high-grade distribution and should result in continued drilling success.” Mr. Salamis continued, “The Company is also excited about the winter drill program in new areas such as Georgianna, where low-grade disseminated gold-silver mineralization and high-grade vein-type mineralization has been recently sampled at surface during the 2020 field exploration program. The Georgianna area, in particular, bears remarkable resemblance to the neighboring DeLamar Deposit situated 3 km to the southeast, with similar anomalous geophysical and soil geochemistry signatures and geological attributes.”

To view a video summary of today’s news release, please click the following link:

https://youtu.be/jtZlDdmX7D8

To discuss today’s results or to receive an update from Integra’s management team, book a meeting via the following link:

https://calendly.com/integraresources/30min

Florida Mountain
Drill
Results

The following table highlights selected intercepts from the Florida Mountain drill holes announced today:

Drill Hole Number	From (m)	To (m)	Interval (m) (1)	g/t Au ( 2)	g/t Ag ( 2)	g/t AuEq ( 3)
FME-20-085	2.13	87.48	85.35	4.53	262.67	7.91
Incl:	5.18	34.14	30.48	11.74	652.45	20.14
FME-20-086	97.84	220.98	123.14	0.55	18.16	0.79
Incl:	218.24	219.46	1.22	9.98	16.43	10.19
FME-20-087	342.75	344.12	1.37	1.76	347.37	6.23
FME-20-088	330.40	332.84	2.44	13.36	13.04	13.53
FME-20-091	46.18	77.11	30.93	2.36	2.38	2.39
Incl:	73.15	77.11	3.96	14.49	9.94	14.62
FME-20-093	34.66	36.27	1.61	8.61	479.00	14.78
FME-20-093	166.42	167.03	0.61	4.32	4.11	4.373

(1)		Downhole thickness; true width varies depending on drill hole dip; most drill holes are aimed at intersecting the vein structures close to perpendicular therefore true widths are close to downhole widths (approximately 70% conversion ratio)
(2)		Intervals reported are uncapped
(3)		Gold equivalent = g Au/t + (g Ag/t ÷ 77.70)

To view a plan map showing the drill hole locations of today’s results at Florida Mountain, please click the following link:

https://www.integraresources.com/site/assets/files/2572/fm_plan_map_vfinal.pdf

To view a long section of the Alpine vein system at Florida Mountain, please click the following link:

https://www.integraresources.com/site/assets/files/2572/alpine_vein_ls_east_-_trace.pdf

To view a long section of the Stone Cabin – Tip Top vein system at Florida Mountain, please click the following link:

https://www.integraresources.com/site/assets/files/2572/stone_cabin_tip_top_ls_east_-_trace.pdf

To view a long section of the Trade Dollar – Black Jack vein system at Florida Mountain, please click the following link:

https://www.integraresources.com/site/assets/files/2572/trade_dollar_black_jack_ls_east_v1_-_trace.pdf

The intercepts reported today consist of mineralization with wide-spread low-grade gold-silver values, crosscut and underlain by narrower high-grade, steeply dipping low-sulphidation quartz-adularia veins. Widespread intercepts from shallow oxide and transitional resource definition drilling conducted by Integra over the previous two years has confirmed potentially mineable widths and grades for these high-grade structures.

Integra’s exploration team has modeled 7 high-grade vein structures that appear similar in size and orientation to the historically productive high-grade Trade Dollar – Black Jack vein system. Most historic underground production stemmed from the Trade Dollar – Black Jack vein, while the remaining 6 veins saw limited production up until mining operations ceased with the start of World War I. Geometrically, the veins occur in the form of plunging shoots over an altitude difference of approximately 300 m below the apex of Florida Mountain. Strike lengths of the individual shoots tend to be 100 m to 200 m long and with widths of between 1 m and 8 m.   

Integra refined its understanding of the controls on high-grade vein mineralization at Florida Mountain in early 2020 and has been using this model to specifically target the higher-grade “shoots” within the several vein systems identified to date. These higher-grade shoots are interpreted as being localized at the intersections of the North-Northwest and roughly East-West Trending fault/fracture systems. The deep intercepts on both the Stone Cabin / Tip Top and Alpine vein systems announced today are situated within some of these structurally controlled high-grade shoots. The intercepts in drill hole FME-20-093 announced today indicate that the Stone Cabin / Tip Top vein systems appear to extend over 250 m south of previous drilling and the current resource boundary. Since 2018, Integra has drilled 20 drill holes at Florida Mountain that have specifically targeted high-grade shoots, with 13 significant intercepts to date. The success of current high-grade drill targeting at Florida Mountain lends increased confidence in the exploration model, and is a positive step towards the stated goal of defining a high-grade underground resource at Florida Mountain.

To date, less than 15% of the overall vein system strike length has seen targeted drill testing. The high-grade underground potential at Florida Mountain remains a high priority drill target, as underscored by results such as those released today. Further drilling is currently underway, testing additional high-grade vein continuity at Florida Mountain and, will continue throughout the winter for as long as weather and environmental conditions permit.

Next Phases of the 2020 Exploration Drill Program

Three exploration drill rigs are currently in operation on the DeLamar Project at Florida Mountain, Milestone and the Georgianna/Blacksheep area. Drilling at Florida Mountain is focusing on exploration for high-grade vein mineralization at depth and along strike extensions to the shallow oxide/transitional near-surface stockwork mineralization. The two additional drill rigs are operating at Milestone and Georgianna. These areas have been the focus of heightened field activity in 2019 and 2020, where several large, untested soil geochemical and coincident geophysical anomalies were outlined. Approximately 3,000 m of drilling is scheduled to be drilled in the Blacksheep area over the next several months.

To view a plan map outlining the locations of the Milestone and Georgianna / Blacksheep areas, please click the following link:

https://www.integraresources.com/site/assets/files/2572/where_we_drill_now.pdf

Sampling and QA/QC Procedure

Thorough QA/QC protocols are followed on the Project, including insertion of duplicate, blank and standard samples in the assay stream for all drill holes. The samples are submitted directly to American Assay Labs in Reno, Nevada for preparation and analysis. Analysis of gold is performed using fire assay method with atomic absorption (AA) finish on a 1 assay ton aliquot. Gold results over 5 g/t are re-run using a gravimetric finish. Silver analysis is performed using ICP for results up to 100 g/t on a 5 acid digestion, with a fire assay, gravimetric finish for results over 100 g/t silver.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by E. Max Baker Ph.D. (F.AusIMM), Integra’s Vice President Exploration, of Reno, Nevada, and is a “Qualified Person” (“QP”) as defined in National Instrument 43- 101 – Standards of Disclosure for Mineral Projects.

About Integra Resources

Integra is a development-stage mining company focused on the exploration and de-risking of the past producing DeLamar Gold-Silver Project in Idaho, USA. Integra is led by the management team from Integra Gold Corp. which successfully grew, developed and sold the Lamaque Project, in Quebec, for C$600 M in 2017. Since acquiring the DeLamar Project, which includes the adjacent DeLamar and Florida Mountain gold and silver Deposits, in late 2017, the Company has demonstrated significant resource growth and conversion while providing a robust economic study in its maiden Preliminary Economic Assessment. The Company is currently focused on resource growth through brownfield and greenfield exploration and the start of pre-feasibility level studies designed to advance the DeLamar Project towards a potential construction decision. For additional information, please reference the “Technical Report and Preliminary Economic Assessment for the DeLamar and Florida Mountain Gold – Silver Project, Owyhee County, Idaho, USA (October 22, 2019).”

ON BEHALF OF THE BOARD OF DIRECTORS

George Salamis
President, CEO and Director

CONTACT INFORMATION

Corporate Inquiries: [email protected]
Company website: www.integraresources.com
Office phone: 1 (604) 416-0576

Forward looking and other cautionary statements

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. . In this news release, forward-looking statements relate, among other things, to: statements about the estimation of mineral resources; magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; future exploration prospects; the completion and timing of mineral resource estimates and PEA; future growth potential of Integra; and future development plans.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others: risks related to the speculative nature of the Company’s business; the Company’s formative stage of development; the Company’s financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; actual results of reclamation activities; conclusions of future economic evaluations; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. Although the forward-looking statements contained in this news release are based upon what management of Integra believes, or believed at the time, to be reasonable assumptions, Integra cannot assure its shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be anticipated, estimated or intended.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information 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 information.

Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated and Inferred Resources

The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource”, “inferred mineral resource” used herein are Canadian mining terms used in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) under the guidelines set out in the Canadian Institute of Mining and Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as may be amended from time to time (the “CIM Definition Standards”). Inferred mineral resources’ have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. These definitions differ from the definitions in the United States Securities and Exchange Commission (the “SEC”) Industry Guide 7 (“Industry Guide 7”). United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.  

Under Industry Guide 7, a mineral reserve is defined as a part of a mineral deposit which could be economically and legally extracted or produced at the time the mineral reserve determination is made. While the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource”, and “inferred mineral resource” are recognized and required by Canadian regulations, they are not defined terms under Industry Guide 7 and historically they have not been permitted to be used in reports and registration statements filed with the SEC. As such, information contained herein concerning descriptions of mineralization and resources under Canadian standards may not be comparable to similar information made public under Industry Guide 7 by U.S. companies in SEC filings.

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

• 2020 revenue was a record $609.7 million, an increase of 11% compared with 2019 and the third consecutive year of record annual revenue
• Fourth quarter 2020 revenue was $149.3 million, down 5% sequentially and 4% year-over-year
• Net income attributable to Photronics, Inc. shareholders was $33.8 million, or $0.52 per diluted share, for the full year of 2020; and $6.5 million, or $0.10 per diluted share, for the fourth quarter of 2020
• During the fourth quarter, cash provided by operating activities was $64.8 million, capex was $34.1 million, share repurchases were $17.5 million, and ending cash balance was $278.7 million
• First quarter 2021 guidance: revenue between $145 and $155 million with diluted EPS between $0.07 and $0.14

BROOKFIELD, Conn., Dec. 09, 2020 (GLOBE NEWSWIRE) — Photronics, Inc. (NASDAQ:PLAB), a worldwide leader in photomask technologies and solutions, today reported financial results for its fiscal 2020 full year and fourth quarter ended October 31, 2020.

Full year revenue was a record $609.7 million, up 11% compared with 2019. IC revenue was $418.4 million, up 3% compared with last year; and FPD revenue was a record $191.3 million, up 32% compared with last year.

Fourth quarter revenue was $149.3 million, down 5% compared with the previous quarter and 4% compared with the same quarter last year. Integrated circuit (IC) revenue was $105.9 million, down 3% sequentially and 6% compared with the fourth quarter of last year. Flat panel display (FPD) revenue was $43.4 million, down 12% compared with last quarter and 1% compared with the same period last year.

Net income attributable to Photronics, Inc. shareholders was $33.8 million ($0.52 per diluted share) compared with $29.8 million ($0.44 per diluted share) in 2019; fourth quarter net income was $6.5 million ($0.10 per diluted share), compared with $10.8 million ($0.17 per diluted share) for the third quarter of 2020 and $9.7 million ($0.15 per diluted share) for the fourth quarter of 2019.

“We achieved record annual revenue for the third consecutive year in 2020, overcoming tremendous global and regional challenges,” said Peter Kirlin, chief executive officer. “Fourth quarter revenue declined 5% sequentially as typical seasonality was worsened by geopolitical factors and softness in some sectors. With the decrease in quarterly revenue, profit margins contracted due to the effect of operating leverage on our income. We increased our cash balance while investing in organic growth and returning cash to our shareholders through share repurchases, ending 2020 in a strong financial position. Our expectations are for another growth year in 2021, with high single-digit percent growth in revenue and an up-tick in operating profit similar to the 23% increase achieved in 2020.”

First
Quarter 20
2
1
Guidance

For the first quarter of 2021, Photronics expects revenue to be between $145 million and $155 million, and net income attributable to Photronics, Inc. shareholders to be between $0.07 and $0.14 per diluted share.

Conference Call

A conference call to discuss these results is scheduled for 8:30 a.m. Eastern time on Wednesday, December 9, 2020. The call can be accessed by logging onto Photronics’ website at www.photronics.com. The live dial-in number is (877) 377-7095 or (408) 774-4601 outside of the United States and Canada. The call will be archived on Photronics’ website.

Investor and Analyst Day

Photronics will host an investor and analyst day on December 14, 2020. The event will be conducted virtually and feature updates from management and a Q&A session. More information can be found on the Investors section of Photronics’ website at www.photronics.com.

About Photronics

Photronics
is a leading worldwide manufacturer of integrated circuit (IC) and flat panel display (FPD) photomasks. High precision quartz plates that contain microscopic images of electronic circuits, photomasks are a key element in the IC and FPD manufacturing process. Founded in 1969, Photronics has been a trusted photomask supplier for over 50 years. As of October 31, 2020, the company had 1,728 employees. The company operates 11 strategically located manufacturing facilities in Asia, Europe, and North America. Additional information on the company can be accessed at www.photronics.com.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements made by or on behalf of the company and its subsidiaries. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Photronics to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” “may increase,” “may fluctuate,” “will,” “should,” “would,” “may” and “could” or similar words or expressions are generally forward-looking in nature and not historical facts. Any statements that refer to outlook, expectations or other characterizations of future events, circumstances or results are also forward-looking statements. Important risks, assumptions and other important factors that could cause future results to differ materially from those expressed in the forward-looking statements are specified in Photronics’ Annual and Quarterly filings with the Securities and Exchange Commission under headings such as “Forward-Looking Statements”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in other filings and furnishings made by Photronics with the Securities and Exchange Commission from time to time. These risks and uncertainties include, but are not limited to, the current pandemic and future recurrences and other developments with respect thereto, governmental responses to the pandemic and related matters, changes in end markets resulting therefrom, changes in investment, tax, trade, exchange and other laws and regulations, compliance with local, State and Federal laws, rules and regulations including, but not limited to, import and export controls, tariffs and penalties, fines and violations related thereto, as well as economic, competitive, legal, governmental, political, monetary and fiscal policy, and technological factors and decisions we may make in the future regarding our business, capital structure and other matters. Photronics undertakes no obligation to release publicly any revisions to any forward-looking statements or, except as required to be disclosed in filings or furnishings with the Securities and Exchange Commission, to report events or to report the occurrence of unanticipated events. There is no assurance that Photronics’ expectations will be realized.

PHOTRONICS, INC.
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
(Unaudited)
		Three Months Ended												Year Ended
		October 31,				August 2,				October 31,				October 31,				October 31,
		2020				2020				2019				2020				2019
Revenue		$	149,286			$	157,895			$	156,257			$	609,691			$	550,660
Cost of goods sold		117,401				120,161				118,098				475,037				429,819
Gross profit		31,885				37,734				38,159				134,654				120,841
Operating Expenses:
Selling, general and administrative		12,790				13,306				12,140				53,582				52,326
Research and development		4,110				4,492				4,543				17,144				16,394
Total Operating Expenses		16,900				17,798				16,683				70,726				68,720
Operating income		14,985				19,936				21,476				63,928				52,121
Other  (expense) income, net		(2,937		)		(2,135		)		(6,111		)		(2,327		)		(1,420		)
Income before income tax provision		12,048				17,801				15,365				61,601				50,701
Income tax provision		3,469				4,937				2,327				21,258				10,210
Net income		8,579				12,864				13,038				40,343				40,491
Net income attributable to noncontrolling interests		2,119				2,088				3,338				6,523				10,698
Net income attributable to Photronics, Inc. shareholders		$	6,460			$	10,776			$	9,700			$	33,820			$	29,793
Earnings per share:
Basic		$	0.10			$	0.17			$	0.15			$	0.52			$	0.45
Diluted		$	0.10			$	0.17			$	0.15			$	0.52			$	0.44
Weighted-average number of common shares outstanding:
Basic		64,193				64,780				66,230				64,866				66,347
Diluted		64,768				65,247				66,862				65,470				69,155

PHOTRONICS, INC.
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)
		October 31,				October 31,
		2020				2019
Assets
Current assets:
Cash and cash equivalents		$	278,665			$	206,530
Accounts receivable		134,470				134,454
Inventories		57,269				48,155
Other current assets		29,735				38,388
Total current assets		500,139				427,527
Property, plant and equipment, net		631,475				632,441
Intangible assets, net		3,437				7,870
Other assets		53,131				50,827
Total assets		$	1,188,182			$	1,118,665
Liabilities and Equity
Current liabilities:
Debt		$	13,678			$	10,873
Accounts payable and accrued liabilities		129,261				141,081
Total current liabilities		142,939				151,954
Long-term debt		54,980				41,887
Other liabilities		27,997				13,732
Photronics, Inc. shareholders’ equity		804,962				769,892
Noncontrolling interests		157,304				141,200
Total equity		962,266				911,092
Total liabilities and equity		$	1,188,182			$	1,118,665

PHOTRONICS,  INC.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
		Year Ended
		October 31,				October 31,
		2020				2019
Cash flows from operating activities:
Net income		$	40,343			$	40,491
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization		93,814				83,879
Share-based compensation		4,927				3,680
Changes in operating assets, liabilities and other		3,962				(59,664		)
Net cash provided by operating activities		143,046				68,386
Cash flows from investing activities:
Purchases of property, plant and equipment		(70,815		)		(178,375		)
Government incentive		5,263				27,003
Other		(159		)		(34		)
Net cash used in investing activities		(65,711		)		(151,406		)
Cash flows from financing activities:
Proceeds from debt		20,340				54,633
Contributions from noncontrolling interest		17,596				29,394
Purchases of treasury stock		(34,394		)		(21,696		)
Dividends paid to noncontrolling interests		(16,151		)		(45,050		)
Repayments of debt		(7,392		)		(61,319		)
Proceeds from share-based arrangements		4,239				2,071
Other		(248		)		(92		)
Net cash used in financing activities		(16,010		)		(42,059		)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash		10,986				2,381
Net increase (decrease) in cash, cash equivalents, and restricted cash		72,311				(122,698		)
Cash, cash equivalents, and restricted cash, beginning of period		209,291				331,989
Cash, cash equivalents, and restricted cash, end of period		$	281,602			$	209,291

 

VANCOUVER, British Columbia, Dec. 09, 2020 (GLOBE NEWSWIRE) — Qu Biologics Inc., a private clinical stage biopharmaceutical company developing Site Specific Immunomodulators (SSIs), a novel platform of immunotherapies designed to restore innate immune function, is pleased to announce an oversubscribed $8 million financing. With the proceeds, Qu Biologics will complete stage 1 of the RESTORE Phase 2 clinical trial for patients with moderate to severe Crohn’s disease and its Phase 2 Study to assess activation of anti-cancer immune response in colon cancer.

“We are pleased to have oversubscribed our bridge round based on the promising interim data from our RESTORE trial and we are looking forward to the important full data from our two studies, which will both complete in the first half of 2021,” said Hal Gunn, MD, CEO of Qu. “Our first-in-paradigm platform is designed to safely achieve immune balance and healing by restoring multiple important immune functions simultaneously – we are excited about our unique and novel treatment’s transformational potential in preventing and treating cancer and chronic disease.”

Qu Biologics will use the funds raised to expand its team and capacity and progress its proprietary immunotherapy platform.

For more information about Qu Biologics and the science behind SSIs, please visit www.qubiologics.com.

About Qu Biologics

Qu Biologics is a clinical stage biotechnology company developing Site Specific Immunomodulators (SSI), a novel class of immunotherapies designed to stimulate an innate immune response in targeted organs to reverse the chronic inflammation underlying many important diseases including inflammatory bowel disease, cancer, inflammatory lung disease and arthritis. Qu has completed three Phase 2 studies in Crohn’s disease, ulcerative colitis and lung cancer and has two Phase 2 studies underway in Crohn’s disease and colon cancer.

Backed by a prestigious group of scientific advisors and board members, Qu Biologics is led by a management team that includes co-founder and CEO Dr. Hal Gunn, a physician and expert on the body’s immune response to chronic disease; and Chief Medical Officer Dr. Simon Sutcliffe, former CEO of the BC Cancer Agency and a distinguished clinician, scientist and leader in cancer control in Canada and internationally.

For more information regarding this press release, contact:

Hal Gunn, MD
CEO
Qu Biologics Inc.
Phone: 604.734.1450
Email: [email protected]

Qu Biologics Inc. cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Qu Biologics’ forward-looking statements due to the risks and uncertainties inherent in Qu Biologics’ business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Qu Biologics does not assume any obligation to update any forward-looking statements except as required by law.

Minneapolis, Dec. 09, 2020 (GLOBE NEWSWIRE) — CLA recently announced the availability of state-by-state financial and operational key performance indicators, which allow skilled nursing facility (SNF) operators and investors to benchmark their facility against the median metrics of the state in which they operate. The metrics, accessible through an online dashboard, serve as a complement to CLA’s annual SNF Cost Comparison and Industry Trends Report, a document the firm has published for the past 35 years.

“At CLA, we understand that skilled nursing is a local business, and no market is identical to another,” said Cory Rutledge, CLA principal and senior living practice leader. “So as we analyzed data and observed that performance varied significantly from state to state, we saw an opportunity to provide this type of valuable information to our clients, in addition to our annual report.”

The metrics, along with the report, have the potential to give SNFs greater clarity about state and national trends and the fundamentals of SNF finance and operations. “There are a variety of benefits to having this data in hand,” said Rutledge. “SNFs are able to gain a better understanding of benchmarks that are helpful in creating performance expectations, a stronger handle on their competitive landscape, and relevant knowledge about their local market conditions.” In a year where SNFs have faced challenges due to COVID-19, fresh insights and ideas may create distinct advantages.

The report and online dashboard are driven by CLA’s data platform, CLA Clarity, which allows operators to dive even deeper into their financial and operational indicators. By offering a hyper-local view of their own market, CLA Clarity provides CLA clients a view of how their facility stacks up against competitors across a wide range of categories, including:

• Occupancy
• Payor mix
• Nursing hours
• Wages
• Benefits
• Departmental PPD costs

“2020 has been a trying year for SNFs and other health care organizations,” said Rutledge. “With our report and state-specific metrics, as well as CLA Clarity, our goal is simply to arm our clients with data that can help them weather the storm and identify opportunities.”

Review the online state dashboards and the 35th Cost Comparison and Industry Trends Report today to learn more.

Attachment

• Rutldge_Cory_Med_0027

Jackie Kruger
CLA (CliftonLarsonAllen LLP)
612-376-4623
[email protected]

London, December 9, 2020

CDP, the international non-profit that drives companies and governments to reduce their greenhouse gas emissions and safeguard water resources, has recognized CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) as a global leader in corporate sustainability by including it on the CDP’s prestigious ‘A List’ for tackling climate change.  Furthermore, CNH Industrial scored an A- in the CDP’s Water Security ‘A List’.

“We are delighted that the CDP has recognised our continuing efforts to tackle climate change,” said Suzanne Heywood, Chair and Acting Chief Executive Officer, CNH Industrial N.V. “We are ever mindful of the impact that our actions have on our planet. That’s why we have worked hard to develop alternative propulsion technologies, and to implement new working practices in our world-class manufacturing and logistics programmes, which are cutting greenhouse gas emissions. We’re keen to do our part to bring about the low-carbon future that the planet needs.”

This year some 9,600 companies disclosed data about their environmental impacts, risks and opportunities to CDP for independent assessment against its scoring methodology. In 2020, companies were requested to do so by over 515 investors with over USD $106 trillion in assets and more than 150 major purchasing organizations with USD $4 trillion in purchasing power. CNH Industrial is one of a small number of high-performing companies out of more than 5,800 that were scored.

A detailed and independent methodology is used by CDP to assess these companies. This allocates a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks. It also considers best practices regarding environmental leadership, such as setting ambitious and meaningful targets.

These latest results follow CNH Industrial’s tenth consecutive year as the Industry Leader in the Dow Jones Sustainability Index, World and Europe. As of November 30, 2020, CNH Industrial was awarded ISS ESG Prime status and is included in the following indexes: MSCI ESG Leaders Indexes¹, ECPI Global Agriculture Liquid, ECPI World ESG Equity, ECPI Global Developed ESG Best-in-Class, ECPI Euro ESG Equity, Euronext Vigeo Europe 120, Euronext Vigeo Eurozone 120, STOXX Global ESG Leaders Index, STOXX Global ESG Environmental Leaders Index, STOXX Global ESG Social Leaders Index, STOXX Global ESG Governance Leaders Index, STOXX Global ESG Impact Index, STOXX Global Low Carbon Footprint Index, STOXX Global Reported Low Carbon Index², Refinitiv Diversity & Inclusion Index, and Integrated Governance Index (IGI).

⁽¹⁾ The use by CNH Industrial of any MSCI ESG Research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of CNH Industrial by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.
⁽²⁾ Those listed are the main global STOXX indexes in which CNH Industrial is included.

CNH Industrial


N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions.
More information can be found on the corporate website:


www.cnhindustrial.com

Sign up for corporate news alerts from the CNH Industrial Newsroom:



bit.ly/media-cnhindustrial-subscribe

Media contact:

Laura Overall    
Corporate Communications Manager
CNH Industrial              
Tel. +44 (0)2077 660 338                       
E-mail: [email protected]
www.cnhindustrial.com

Attachments

• 20201209_PR_CNH_Industrial_CDP_Results
• CNH INDUSTRIAL N.V.

PR N° C2974C

STMicroelectronics
to be Carbon Neutral by 2027

• Comprehensive roadmap covers the reduction of direct and indirect emissions, including product transportation, business travel, and employee commuting
• Will source 100% renewable energy by 2027
• Intermediate milestone, to be achieved by 2025, with full compliance to the 1.5°C scenario defined at the Paris COP21, endorsed by the Science Based Targets Initiative (SBTi)

Geneva, Switzerland, December 9, 2020 – STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced its goal to become carbon neutral by 2027, the earliest date anticipated for any semiconductor company globally. ST’s comprehensive roadmap to carbon neutrality includes two specific targets: compliance with the 1.5°C scenario defined at the Paris COP21 by 2025, which implies a 50% reduction of direct and indirect emissions compared to 2018, and the sourcing of 100% renewable energy by 2027.

ST’s action plan will reduce:

• Its direct emissions of greenhouse gases (scope 1), mainly through investment in equipment to burn the gases remaining after manufacturing;
• Its overall energy consumption (scope 2);
• Its emissions from product transportation, business travel, and employee commuting (scope 3);
• Remaining emissions through the identification and implementation of the most credible and relevant carbon avoidance and sequestration programs.

ST will also source 100% renewable energy by 2027 through a combination of on-site solar installations, green-power purchase agreements and green certificates. The target compares to a baseline of 26%­ in 2019.

ST will also implement collaborative programs and partnerships in all its ecosystems to promote carbon neutrality among all stakeholders and to encourage environmental innovations.

Within the framework of this program, ST has joined the Science Based Targets initiative (SBTi)¹. The SBTi has approved ST’s targets related to 1.5°C compliance, on direct and indirect greenhouse-gas emissions and sourcing of renewable energy.

“Sustainability is part of our DNA, values, and business model, and we have achieved strong results across all key metrics throughout the last 25 years. The innovative technologies we develop play a key role in helping to solve our customers’ challenges, and we believe they also bring an important contribution to overcome global environmental, social, and societal challenges. We have obtained solid results with our previous plans, but we will do more,” said Jean-Marc Chery, STMicroelectronics’ President & CEO. “ST is stepping up its ambition and plans for the sustainability of its operations. We will become carbon neutral by 2027, for the 40^th anniversary of ST’s creation. We have built a comprehensive program with very ambitious targets for a company with such a large, global manufacturing footprint, and we will be working with key partners and stakeholders in a collaborative approach.”

ST has been actively working on reducing its environmental footprint through dedicated programs for many years. In 2019 it had already achieved the goals it had set for 2025 regarding greenhouse gas emission reduction, with a 21% reduction per unit of production compared with 2016.  

NOTE TO EDITORS

Sustainability and sustainable technology at the heart of ST’ vision and solutions

Sustainability at ST guides the way we innovate, behave, and conduct our business and through relationships with customers, partners, and employees, – driven by our values: integrity, people, and excellence. ST’s technologies are enablers of safer, greener mobility and advanced power and energy management across all type of systems and devices. We are the inventors and market leader in smart power technologies, and we continue to lead the movement to more energy-efficient technologies with strategic programs focusing on enabling higher-performance solutions for our customers across the markets we serve with semiconductor technologies and products based on Silicon Carbide (SiC) and Gallium Nitride (GaN).

Through our “Sustainable Technology Program” started in 2011, we design products by systematically taking into consideration the environmental impact of the device throughout its lifecycle, including responsible sourcing, eco-design, manufacturing, transportation, usage, and end-of-life processing. The percentage of new products that are classified as “responsible” in our portfolio increased from 50% in 2018 to 62% in 2019. In 2025 we will triple the percentage of revenue generated by responsible products vs 2016.

Partnering and monitoring to accelerate our achievements

Our environmental performance and management systems are regularly evaluated and certified through internal and third-party audits. Our effective 2019 performance and management approach were recognized with an A score in the 2020 CDP Climate Change list, positioning ST among leaders in climate transparency and actions to cut emissions, mitigate climate risks and develop the low-carbon economy.
We also reiterated our proactive commitment to reducing our carbon footprint by joining the 99 signatory companies of the French Business Climate Pledge. Our longstanding efforts were recognized again in 2020, with ST’s presence for the third consecutive year in the Dow Jones Sustainability World index.

The STMicroelectronics 2020 Sustainability Report (2019 performance) can be viewed


here


and downloaded as a PDF


here

. 

About STMicroelectronics

At ST, we are 46,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with our 100,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and 5G technology.

Further information can be found at www.st.com. 

For further information, please contact:

INVESTOR RELATIONS:
Céline Berthier
Group VP, Investor Relations
Tel: +41.22.929.58.12
[email protected]

MEDIA RELATIONS:
Alexis Breton
Corporate External Communications
Tel: + 33 6 59 16 79 08
[email protected]

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^{1
The Science Based Targets initiative is a collaboration between the Carbon Disclosure Project (CDP), the World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC). It encourages companies to set targets for reducing Greenhouse Gas emissions based on scientific data, in order to meet the goals of the Paris Agreement. It already includes more than 1,000 companies worldwide.}

Attachment

• C2974C- ST – Carbone Neutrality- FINAL FOR PUBLICATION