AM Best Affirms Credit Ratings of CVS Health Corporation’s Aetna Subsidiaries

AM Best Affirms Credit Ratings of CVS Health Corporation’s Aetna Subsidiaries

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of Aetna Life Insurance Company (ALIC) (Hartford, CT) and the other operating entities of Aetna Inc. (Aetna) that are now wholly owned subsidiaries of CVS Health Corporation (CVS Health) [NYSE: CVS]. These entities include the members of Aetna Health & Life Group. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” Aetna Insurance Company Limited(AICL) (United Kingdom). The outlook of these Credit Ratings (ratings) is stable. Please see below for a detailed listing of the companies.

AM Best also has affirmed the FSR of A (Excellent) and the Long-Term ICRs of “a” of Texas Health + Aetna Health Insurance Company (Arlington, TX), as well as Texas Health + Aetna Health Plan, Inc., (Arlington, TX) (collectively referred to as Texas Health Aetna), and Allina Health and Aetna Insurance Company (St. Louis Park, MN), all of which are joint ventures with subsidiaries of Aetna Inc. The outlook of these ratings is stable.

Lastly, AM Best has assigned an FSR of A (Excellent) and a Long-Term ICR of “a” to Accendo Insurance Company (Accendo) (West Valley City, UT). Accendo is a newly added member to the Aetna Health & Life Group. The outlook assigned to these ratings is stable. Accendo, licensed in 50 states, has assumed Medicare Part D premium from an affiliate under CVS Health; however, the company recently started writing direct Medicare Supplement business in multiple states. The business written by Accendo targets the senior demographic, and the company expects additional complementary life insurance products to be offered along with traditional Medicare Supplement insurance products.

The majority of Aetna’s operating entities are part of Aetna Health & Life Group. The ratings of Aetna Health & Life Group reflect its balance sheet strength, which AM Best categorizes as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).

The ratings also reflect Aetna Health & Life Group’s very strong level of risk-adjusted capitalization, which is driven by strong operating performance. However, this is offset by dividend payments, which have exceeded $2 billion in each of the past three years as the entities have distributed a larger percentage of earnings as dividends compared with prior periods. These higher dividends followed the sale of life and disability business in 2017, as well as lower commercial premium due to exit from individual exchange market. The lead company, ALIC, has reported a decline in risk-based capital to under 200% company action level; however, the company has a planned strategy to increase this above 200% by 2020 and maintain this level.

AM Best considers the group’s operating performance to be strong, with return on equity measures annually at or exceeding 25% with underwriting income that has been greater than $2 billion annually since the acquisition by parent company CVS Health was finalized in 2018. Aetna Health & Life Group reported strong growth in net premiums in 2019, partially attributed to consistent double-digit growth in the Medicare Advantage line of business. Furthermore, SilverScript Insurance Company, a member of the Aetna Health & Life Group, remains the leading stand-alone Medicare Part D plan in the United States, based on market share. Through nine months ended Sept. 30, 2020 and similar to industry trends, CVS’ Health Care Benefits segment has reported lower medical benefit ratios attributed to the decline in utilization during the first half of 2020 as elective procedures were delayed and the health care providers focused on the COVID-19 pandemic. This decline contributed to very strong earnings through the end of the third quarter; however, the company reported an uptick in utilization in the third quarter to more normal levels due to increase in elective procedures and emergency care outside of COVID-19 hot spots.

Aetna is one of the top three U.S. health insurers in terms of medical membership, which has increased to 23.3 million individuals for commercial, Medicare and Medicaid products. Aetna’s Medicare Advantage membership growth has outpaced the industry over the past five years, moving Aetna to the number three insurer from the fifth position in the Medicare Advantage market. As of Sept. 30, 2020, Aetna’s Medicare Advantage members are in plans with a Star rating of 4.0 or higher, exceeding peers and the industry average. The company also has recently reported strong membership growth in Medicaid managed care business, which is due in part to the COVID-19 pandemic and the rise in the unemployment rate as businesses have laid off or furloughed their workforces. The rate has stayed persistently high since the outbreak of the coronavirus. Similar to industry trends, Aetna has seen consistent membership decline in its commercial business.

The ratings of Aetna Health & Life Group reflect high financial leverage and goodwill at the ultimate parent, CVS Health. Financial leverage at the end of third-quarter 2020 was approximately 49%. While AM Best considers that to be high, it remains lower than year-end 2019 as the CVS Health organization is focused on deleveraging. The execution risk related to the Aetna-CVS Health merger has declined over the past year, as many aspects of the management of Aetna’s legacy business is on track and following the transformation plans outlined by management. However, while CVS Health stated its intention to maintain the capitalization level at the insurance entities in aggregate at the NAIC’s company action level of 275%, actual risk-based capital at year-end 2019 was lower than target and the company’s capital plan now includes increasing its risk-based capital ratio in 2020. CVS Health is doing this while keeping to its accelerated deleveraging plan through robust operating earnings at the insurance entities, strong cash flows from operations and suspension of its share repurchase program. CVS Health is expected to play a major part in the distribution of the COVID-19 vaccines in long-term care facilities, as an official COVID-19 Vaccination Program Provider.

The ratings of AICL reflect its balance sheet strength, which AM Best categorizes as very strong, as well as its marginal operating performance, limited business profile and appropriate ERM. Furthermore, the ratings of AICL factor in rating enhancement from the Aetna organization. AICL has benefited from capital injections and the transfer of international business from the wider group.

The ratings of Allina Health and Aetna Insurance Company reflect its balance sheet strength, which AM Best categorizes as strong, as well as its marginal operating performance, limited business profile and appropriate ERM. The ratings include the enhancement from the Aetna organization.

The ratings of Texas Health Aetna reflect its balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate ERM. The ratings include the enhancement from the Aetna organization.

The FSR of A (Excellent) and the Long-Term ICRs of “a” have been affirmed with a stable outlook for the following members of Aetna Health & Life Group:

  • Aetna Life Insurance Company
  • Aetna Health and Life Insurance Company
  • Aetna Life & Casualty (Bermuda) Ltd.
  • Aetna Health Inc. (a Connecticut corporation)
  • Aetna Health Inc. (a Florida corporation)
  • Aetna Health Inc. (a Georgia corporation)
  • Aetna Health Inc. (a Louisiana corporation)
  • Aetna Health Inc. (a New Jersey corporation)
  • Aetna Health Inc. (a New York corporation)
  • Aetna Health Inc. (a Maine Corporation)
  • Aetna Health Inc. (a Pennsylvania corporation)
  • Aetna Health Inc. (a Texas corporation)
  • Aetna Health Insurance Company
  • Aetna Health Insurance Company of New York
  • Aetna Health of California Inc.
  • Aetna Health of Iowa, Inc.
  • Aetna Health of Utah, Inc.
  • Aetna Dental of California Inc.
  • Aetna Dental Inc. (a New Jersey corporation)
  • Aetna Dental Inc. (a Texas corporation)
  • American Continental Insurance Company
  • Continental Life Insurance Company of Brentwood, Tennessee
  • Coventry Health and Life Insurance Company
  • Aetna Better Health of Michigan, Inc.
  • Aetna Better Health of Missouri, LLC
  • Coventry Health Care of Illinois, Inc.
  • Coventry Health Care of Kansas, Inc.
  • Coventry Health Care of Florida, Inc.
  • Coventry Health Care of Missouri, Inc.
  • Coventry Health Care of Nebraska, Inc.
  • Coventry Health Care of Virginia, Inc.
  • Coventry Health Care of West Virginia, Inc.
  • First Health Life & Health Insurance Company
  • HealthAssurance Pennsylvania, Inc.
  • SilverScript Insurance Company

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Wayne Kaminski

Senior Financial Analyst

+1 908 439 2200, ext. 5061

[email protected]

Stanislav Stoev, ACCA

Financial Analyst

+44 20 7397 6264

[email protected]

Christopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

[email protected]

Jim Peavy

Director, Communications

+1 908 439 2200, ext. 5644

[email protected]

KEYWORDS: New Jersey Europe United States North America

INDUSTRY KEYWORDS: Insurance Professional Services

MEDIA:

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Zhaga and the DALI Alliance add sensors and controllers to Zhaga-D4i certification

The product ecosystem for road lighting that can be Zhaga-D4i certified now includes DALI-based sensors and controllers with Zhaga connectors, as well as luminaires.

PISCATAWAY, N.J., Dec. 17, 2020 (GLOBE NEWSWIRE) — The joint Zhaga-D4i certification program from the DALI Alliance and the Zhaga Consortium has already qualified a number of Zhaga-D4i Book 18 outdoor luminaires with Zhaga receptacles and D4i components. Now, certified D4i control devices with Zhaga connectors can also be submitted for Zhaga-D4i certification. Eligible devices include light-level or occupancy sensors, as well as control nodes that can communicate wirelessly with external networks.

This ecosystem of lighting products enables smart, future-proof LED luminaires with IoT connectivity. Certified Zhaga-D4i products can carry the dual logos of Zhaga and D4i which together indicate plug-and-play interoperability of sensors, communication nodes and luminaires.

“Bringing control devices into the Zhaga-D4i program will enable a certified ecosystem of interoperable products from multiple vendors, which will be welcomed by the lighting market,” said Paul Drosihn, DALI Alliance General Manager.

“With the Zhaga-D4i certification program, decision makers in outdoor road lighting can combine the long-lasting nature of the lighting infrastructure with the rapid changes in digital communication and sensor technology,” said Dee Denteneer, Zhaga Secretary-General.

Zhaga-D4i luminaires have a powered Zhaga receptacle, which can accommodate a D4i-certified sensor or communication node with a corresponding Zhaga baseplate. Also, Zhaga-D4i luminaires use LED drivers meeting the D4i requirements, including the availability of DALI luminaire, energy and diagnostics data.

D4i enables DALI in intelligent, IoT-ready luminaires. By taking care of control and power requirements, D4i makes it much easier to mount sensors and communication devices on luminaires.

Smart Zhaga-D4i luminaires are ideal platforms for the IoT, capable of gathering information from on-board D4i sensors, and providing data via DALI for performance monitoring, asset management, predictive maintenance and many other tasks. Communication and data exchange with an external network can take place using a D4i control device with wireless communication capabilities.

About the DALI Alliance

The DALI Alliance (also known as the Digital Illumination Interface Alliance or DiiA) is an open, global consortium of lighting companies that drives the growth of lighting-control solutions based on internationally-standardized Digital Addressable Lighting Interface (DALI) technology. The organization operates the DALI-2 and D4i certification programs to boost levels of cross-vendor interoperability. As lighting continues to evolve and converge with the IoT, the DALI Alliance is also driving the standardization of wireless and IP-based connectivity solutions. For more information, visit www.dali-alliance.org.

About Zhaga

Zhaga is a global association of lighting companies that is standardizing interfaces of components of LED luminaires, including LED light engines, LED modules, LED arrays, holders, electronic control gear (LED drivers) and connectivity fit systems. This helps to streamline the LED lighting supply chain, and to simplify LED luminaire design and manufacturing. Zhaga continues to develop specifications based on the inter-related themes of interoperable components, smart and connected lighting, and serviceable luminaires. For more information, visit www.zhagastandard.org.  

Contact Details

Dee Denteneer
Secretary General, Zhaga Consortium
Email: [email protected]

Paul Drosihn
General Manager, DiiA
Email: [email protected] 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2bd749bb-c7f4-4c21-8de2-4a0ee9337199



ECSAwarded $28.8 Million USMC IT Service and Support Contract

ECSAwarded $28.8 Million USMC IT Service and Support Contract

Company will support Marine Corps with cloud computing and software engineering solutions

FAIRFAX, Va.–(BUSINESS WIRE)–ECS, a leader in advanced technology, science, and engineering solutions, has been awarded a five-year, $28.8 million contract by the United States Marine Corps (USMC) Department of Manpower and Reserve Affairs (M&RA). ECS will provide M&RA with information technology service and support (ITSS), enabling the department to efficiently manage and expand their human resources initiatives across all active and reserve members of the USMC.

Through this firm-fixed-price (FFP) recompete contract, ECS will build on previous work helping USMC develop agile resource and manpower allocation systems. Through application development, information technology service management (ITSM), program management, and information assurance (IA), ECS will provide post-deployment software support to the department’s Manpower Information Portal (MIP), which contains all web content and applications managed by M&RA. ECS will also support the department’s 50+ cloud-based applications, ensuring that M&RA meets the data center closure deadlines set by the Department of Defense’s (DoD) consolidation efforts.

To accomplish these objectives, ECS will draw on their extensive expertise with Amazon Web Services (AWS) GovCloud, helping customers manage sensitive data and implement mission-oriented systems and applications. ECS is an AWS Premier Consulting Partner and a next-generation Managed Service Provider (MSP) Partner.

ECS has supported USMC for over 20 years, including designing and deploying the first M&RA cloud environment to meet DoD Impact Level 4 security requirements and receive an authority to operate (ATO) from Marine Corps Information, Command, Control, Communications, and Computers (IC4). The current ITSS project received the first ATO for cloud operations and it is the first MR&A workload to operate completely in the cloud.

“ECS is honored to continue supporting the Manpower and Reserve Affairs mission,” said Luis “CC” Colon-Castro, vice president of mission systems at ECS. “By deploying, securing, and innovating the Marine Corps cloud environments, ECS continues to help our nation’s military solve their most pressing manpower challenges.”

“Manpower Information Systems Division is pleased to have ECS on board supporting our mission and the Marines we serve,” said Paul D. Bennett, chief information officer of the MR&A Manpower Information Systems Division.

About ECS

ECS, a segment of ASGN, delivers advanced solutions in cloud, cybersecurity, artificial intelligence (AI), machine learning (ML), application and IT modernization, science, and engineering. The company solves critical, complex challenges for customers across the U.S. public sector, defense, intelligence, and commercial industries. ECS maintains partnerships with leading cloud, cybersecurity, and AI/ML providers and holds specialized certifications in their technologies. Headquartered in Fairfax, Virginia, ECS has more than 3,000 employees throughout the United States. For more information, visit ECStech.com.

About ASGN

ASGN Incorporated (NYSE: ASGN) is one of the foremost providers of IT and professional services in the technology, digital, creative, engineering, and life sciences fields across commercial and government sectors. Operating through its Apex, Oxford, and ECS segments, ASGN helps leading corporate enterprises and government organizations develop, implement, and operate critical IT and business solutions through its integrated offering of professional staffing and IT solutions. Our mission is to be the most trusted partner for companies seeking highly skilled human capital and integrated solutions to fulfill their strategic and operational needs. For more information, visit us at asgn.com

Luis “CC” Colon-Castro, Vice President of Mission Systems

703-270-1540

[email protected]

KEYWORDS: United States North America Virginia

INDUSTRY KEYWORDS: Technology Contracts Consulting Security Professional Services Software Internet Data Management Defense

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Illinois American Water’s Rhonda Carter Adams Wins Statewide Award for Excellence in Inclusion & Diversity

Illinois American Water’s Rhonda Carter Adams Wins Statewide Award for Excellence in Inclusion & Diversity

BELLEVILLE, Ill.–(BUSINESS WIRE)–
Rhonda Carter Adams,Workforce and Supplier Diversity Program Manager, Illinois American Water, has been recognized with a statewide award for her contributions to diversifying business in Illinois.

On Dec. 1, Adams received the Jerry Garland Award for Excellence in Supplier Diversity from the Illinois Utilities Business Diversity Council (IUBDC). The award originated in 2019 and is named in memory of former Illinois American Water Supplier Diversity Manager Jerry Garland. It is presented annually to an individual who demonstrates exceptional results in advancing the practice of inclusion and diversity. The award was announced at the Illinois Utilities Business Diversity Council (IUBDC) annual Networking and Awards event virtually.

Adams’ role on the IUBDC has included support and leadership of the council’s Advisory & Strategic Planning Committee, Education and Best Practices Committee, Events Committee, and Communications Committee. At Illinois American Water, she has been active in the NAACP-East St. Louis Chapter and has been involved in education and mentoring efforts at the Jackie Joyner Kersee Foundation Youth Center in East St. Louis. She is also a board member of the Illinois Division of the United Way of Greater St. Louis.

Her nomination read, in part: “Rhonda exemplifies the passion, professionalism, and knowledge that Jerry (Garland) once shared with Illinois American Water and the IUBDC… Jerry would be proud of his successor and that she has continued to expand his mission to ensure that diversity is a shared value and that minority contractors and businesses are treated fairly and represented at Illinois utilities.”

The mission of the IUBDC is to serve the member Illinois utilities as a forum for best practice and information exchanging with a focus on advancing the growth and utilization of utility-based diverse businesses in the state of Illinois. IUBDC members include Ameren Illinois, ComEd, Nicor Gas, North Shore Gas, Illinois American Water and Peoples Gas.

About Illinois American Water – Illinois American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 1.3 million people. American Water also operates a customer service center in Alton and a quality control and research laboratory in Belleville.

With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 6,800 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to 15 million people in 46 states. American Water provides safe, clean, affordable and reliable water services to our customers to make sure we keep their lives flowing. For more information, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.

Illinois American Water ranked #1 in Customer Satisfaction

with Large Water Utilities in the Midwest according to the J.D. Power

2020 Water Utility Residential Customer Satisfaction Study

For J.D. Power 2020 award information, visit jdpower.com/awards

Karen Cotton, External Affairs Manager, [email protected]

KEYWORDS: Illinois United States North America

INDUSTRY KEYWORDS: Philanthropy Other Natural Resources Utilities Other Philanthropy Energy Natural Resources

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SHAREHOLDER ALERT: Purcell Julie & Lefkowitz LLP Is Investigating SLM Corporation for Potential Breaches of Fiduciary Duty By Its Board of Directors

PR Newswire

NEW YORK, Dec. 17, 2020 /PRNewswire/ — Purcell Julie & Lefkowitz LLP, a class action law firm dedicated to representing shareholders nationwide, is investigating a potential breach of fiduciary duty claim involving the board of directors of SLM Corporation (NASDAQ: SLM).

If you are a shareholder of SLM Corporation and are interested in obtaining additional information regarding this investigation, free of charge, please visit us at:

http://pjlfirm.com/slm-corporation/

You may also contact Robert H. Lefkowitz, Esq. either via email at [email protected] or by telephone at 212-725-1000.  One of our attorneys will personally speak with you about the case at no cost or obligation.

Purcell Julie & Lefkowitz LLP is a law firm exclusively committed to representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty and other types of corporate misconduct. For more information about the firm and its attorneys, please visit http://pjlfirm.com.   Attorney advertising. Prior results do not guarantee a similar outcome. 

Cision View original content:http://www.prnewswire.com/news-releases/shareholder-alert-purcell-julie–lefkowitz-llp-is-investigating-slm-corporation-for-potential-breaches-of-fiduciary-duty-by-its-board-of-directors-301195399.html

SOURCE Purcell Julie & Lefkowitz LLP

Missouri American Water Awards Grant to Monarch Fire Protection District and Celebrates Expansion Project on Donated Land

Missouri American Water Awards Grant to Monarch Fire Protection District and Celebrates Expansion Project on Donated Land

ST. LOUIS–(BUSINESS WIRE)–
On Monday, Monarch Fire Protection District is set to break ground for a training facility expansion project on land donated by Missouri American Water. The property is located at 911 John Pellet Court in Chesterfield.

First responders will also receive new search and rescue gear purchased with funds provided through the company’s annual Firefighter Grant Program. More than 30 grants were awarded to fire departments and emergency organizations serving communities in Missouri American Water service areas.

“We greatly appreciate the life-saving work our firefighters perform to protect our customers,” said Debbie Dewey, President of Missouri American Water. “We carefully plan and invest in our system to provide reliable water service, which is critical for fire protection. We’re thrilled to further support the Monarch Fire Protection District by donating the land for their expanded training facility and providing an award through our Firefighter Grant Program.”

The new 3,600 sq ft. space will be designed to be compliant to life safety codes and flood plain criteria. It will include:

  • A large pavilion for firefighters to practice live fire and rescue drills,
  • An indoor 30-student classroom, and
  • A storage enclosure capable of securing equipment necessary for modern training facilities.

“Nearing the expiration of the lease and while negotiating an extension, the Missouri American Water Company graciously offered to donate the property to the Fire District,” said Chief Cary Spiegel of Monarch Fire Protection District. “The Training Facility will provide training opportunities where we can partner with the private sector, the Water Company for example, and train with those employees on specific hazards faced in those fields.”

Construction will begin immediately. The projected completion date is Spring 2021.

Missouri American Water

Missouri American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 1.5 million people.

With a history dating to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 6,800 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to more than 15 million people in 46 states. American Water provides safe, clean, affordable and reliable water services to our customers to make sure we keep their lives flowing. For more, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.

Monarch Fire Protection District

The Monarch Fire Protection District was chartered by the State of Missouri in 1957 as the Chesterfield Fire Protection District with three pieces of equipment, approximately 12 volunteers, and two engine houses. In November 2003, after the Board of Directors of the Chesterfield Fire Protection District voted to change the name of the District, the District officially became known as the Monarch Fire Protection District. Today, the District has five fire houses, an administration building, training facility and maintenance facility; it covers slightly more than 62 square miles and services over 60,000 people who live in all or part of the cities of Ballwin, Chesterfield, Clarkson Valley, Creve Coeur, Maryland Heights, Wildwood, and unincorporated St. Louis County. The District now has 125 dedicated employees, responded to over 7,900 alarms in 2019, and have already responded to 6,613 alarms in 2020. Please follow Monarch Fire Protection District on Facebook to watch as our training facility expansion moves through to completion.

Roger Herin

Deputy Chief Fire Marshal

(314) 581-2206

[email protected]

Samantha E. Williams

External Affairs Manager, Missouri American Water

C – 314-437-8738

[email protected]

KEYWORDS: United States North America Missouri

INDUSTRY KEYWORDS: Philanthropy Law Enforcement/Emergency Services Public Policy/Government Utilities Other Philanthropy Energy

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Teranga Files Technical Report for Golden Hill Project

TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) — Teranga Gold Corporation (“Teranga” or the “Company”) (TSX:TGZ; OTCQX:TGCDF) is pleased to announce that it has filed a National Instrument 43-101 – Standards of Disclosure for Mineral Projects technical report on its Golden Hill Project (the “Technical Report”). Golden Hill is an advanced-stage exploration project located in southwest Burkina Faso within the central part of the Houndé Greenstone Belt: a highly mineralized gold region that hosts three operating gold mines, including the Houndé Mine.

The Technical Report, prepared by Teranga and supporting the mineral resource estimate previously announced on October 5, 2020, is available for viewing on SEDAR at sedar.com and on the Company’s website at terangagold.com.

“The Technical Report supports our application for Golden Hill’s mine license and is an important milestone in the project’s development,” said Richard Young, President and CEO. “The Technical Report demonstrates the potential for a high-grade open pit gold mine, confirming that Golden Hill is a very promising target, with opportunity to expand resources and evaluate the economics. The project is located within trucking distance of Endeavour Mining’s processing plant for its Houndé Mine, providing the potential for capital and operating synergies.”

Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), which reflects management’s expectations regarding Teranga’s future growth and business prospects and opportunities. Forward-looking statements include, without limitation, all disclosure regarding possible events, conditions or results of operations, future economic conditions expectations and anticipated courses of action. Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to the exploration and development potential of Golden Hill and the conversion of the Golden Hill exploration permits to a mine license and the costs and timing in respect thereof, proposed operational changes and the timing thereof, future opportunities for enhancing development at Golden Hill, including any capital and operating synergies as they relate to other operations in the vicinity of the project. Although the forward-looking statements contained in this press release reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward-looking statements are based upon assumptions, opinions and analysis that management believes to be reasonable and relevant but that may prove to be incorrect. Teranga cautions you not to place undue reliance upon any such forward-looking statements.

The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of gold and other key inputs, changes in mine plans and other factors, such as project execution delays, many of which are beyond the control of Teranga, as well as other risks and uncertainties which are more fully described in Teranga’s 2019 Annual Information Form dated March 30, 2020, and in other filings of Teranga with securities and regulatory authorities which are available on SEDAR at www.sedar.com.Teranga does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Teranga securities. All references to Teranga include its subsidiaries unless the context requires otherwise.

About Teranga

Teranga is a mid-tier gold producer operating two mines – the Sabodala-Massawa complex and Wahgnion – and advancing prospective exploration properties across West Africa, one of the world’s fastest growing gold jurisdictions. Through its continued success and commitment to responsible mining, Teranga creates sustainable value for all stakeholders and acts as a catalyst for social, economic, and environmental development.

On November 16, 2020, Teranga and Endeavour Mining announced their plans to combine to create a new top 10 senior gold producer with industry-leading low production costs and high cash flow yield, a strong balance sheet and one of the best organic growth pipelines of any senior gold company. Subject to successful completion of the transaction, the new company will have diversification across three countries, combining highly complementary assets with the potential for significant capital, operating and financing synergies.

To learn more, please visit www.terangagold.com.

Contact Information

Richard Young
President & CEO
T: +1 416-594-0000 | E: [email protected]  
Trish Moran
VP, Investor Relations & Corporate Communications
T: +1 416-607-4507 | E: [email protected]



Worthington Industries Declares Quarterly Dividend

COLUMBUS, Ohio, Dec. 17, 2020 (GLOBE NEWSWIRE) — The board of directors of Worthington Industries, Inc. (NYSE:WOR) has declared a quarterly dividend of $0.25 per share. The dividend is payable on March 29, 2021, to shareholders of record March 15, 2021. Worthington has paid a quarterly dividend since it became a public company in 1968.

About Worthington Industries

Worthington Industries (NYSE:WOR) is a leading industrial manufacturing company delivering innovative solutions to customers that span many industries including transportation, construction, industrial, agriculture, retail and energy. Worthington is North America’s premier value-added steel processor and producer of laser welded products; and a leading global supplier of pressure cylinders and accessories for applications such as fuel storage, water systems, outdoor living, tools and celebrations. The Company’s brands, primarily sold in retail stores, include Coleman®, Bernzomatic®, Balloon Time®, Mag Torch® and Well-X-Trol®. Worthington’s WAVE joint venture with Armstrong is the North American leader in innovative ceiling solutions.

Headquartered in Columbus, Ohio, Worthington operates 51 facilities in 15 states and six countries, sells into over 90 countries and employs approximately 7,500 people. Founded in 1955, the Company follows a people-first philosophy with earning money for its shareholders as its first corporate goal. Relentlessly finding new ways to drive progress and practicing a shared commitment to transformation, Worthington makes better solutions possible for customers, employees, shareholders and communities.

Safe Harbor Statement

The Company wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 (the “Act”). Statements by the Company which are not historical information constitute “forward looking statements” within the meaning of the Act. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from those projected. Factors that could cause actual results to differ materially include risks, uncertainties and impacts described from time to time in the Company’s filings with the Securities and Exchange Commission, including those related to COVID-19 and the various actions taken in connection therewith, which could also heighten other risks.

SONYA L. HIGGINBOTHAM

VP, CORPORATE COMMUNICATIONS AND BRAND MANAGEMENT
614.438.7391 | [email protected]

MARCUS A. ROGIER

TREASURER AND INVESTOR RELATIONS OFFICER
614.840.4663 | [email protected]

200 Old Wilson Bridge Rd. | Columbus, Ohio 43085
WorthingtonIndustries.com



InBloom Autism Services Opens New Learning Center for Children in Colorado Springs

Colorado Springs, CO, Dec. 17, 2020 (GLOBE NEWSWIRE) — InBloom Autism Services announced today that they will be opening the doors to a new state-of-the-art Learning Center for young children in the greater Colorado Springs area to receive Applied Behavior Analysis (ABA) therapy as a form of prescribed treatment for Autism Spectrum Disorder (ASD).

Set to officially open on Monday, January 4, the new Learning Center will be the organization’s second location in Colorado Springs, and will be located at 421 Windchime Place. The new Learning Center has over 7,600 square feet of space and a variety of different learning environments ranging from smaller therapy rooms for a more direct 1-to-1 experience, large play rooms for naturalistic environment training/play-based learning, and a classroom for children who are getting ready to transition into a traditional school environment.

ABA therapy is a scientifically-validated form of treatment frequently prescribed to children diagnosed with Autism Spectrum Disorder, and is the primary form of care provided at InBloom Autism Services. InBloom’s Clinical Operations Director, Chelsea Ritz, will oversee the clinical team at the Learning Center in coordination with Director of Operations, Alexandria Silkworth. InBloom has been providing in-home and center-based ABA therapy services to families in Colorado Springs since early 2019, and credit a growing demand for safe center-based services throughout the area for the need to invest in a second Learning Center to serve families living in the northern parts of Colorado Springs.

“I am so excited for our new Learning Center to open and to be able to service families who live further north. The building is located right off of I-25 on the north side of Colorado Springs, and will provide families with quick and easy access to their ABA therapy needs,” said Ritz. “The new location has a lot of open space and a variety of rooms to work with our families and their kiddos. This provides an optimal environment for each kiddo’s specific needs, whether it is time spent one-on-one with a therapist building skills, or building skills in the an open natural setting through play.”

With the impact that COVID-19 has had on the lives and schedules of children throughout the state, officials at InBloom say they have made adjustments to their health and safety protocols to make sure therapy services can stay as consistent as possible to those in need of a center-based approach.

“Our new Learning Center allows InBloom to serve the communities of Rockrimmon, Pikeview, Manitou Springs, and Northgate. It should be less than a 20-minute drive for most families outside of our west location’s reach which now allows us to provide center-based services to those communities,” said Silkworth. “We are also excited to host InBloom’s Learning Readiness Program at our new location, which allows students to begin learning and developing the prerequisite skills required for school in our mock-classroom environment. In addition to our direct clinical spaces, our center features space that helps to best support our clinical team, including a designated training space for parents and staff, as well as staff rooms to allow our therapists to work on session notes and treatment plans. This allows our clinicians to receive the support they need in an area that does not interfere with treatment or cause distraction in the treatment setting.”

InBloom is an in-network provider with most major insurance providers, as well as state-funded resources in Colorado. Caregivers interested in inquiring about therapy services at the new location can call 888-754-0398 to connect with InBloom’s Care Team, or visit inbloomautism.com/colorado-springs to inquire more today.

 

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ABOUT INBLOOM AUTISM SERVICES

Founded in 2015 in Fort Lauderdale, FL, InBloom Autism Services provides Applied Behavior Analysis therapy to children living with Autism Spectrum Disorder throughout Florida, Massachusetts, Wisconsin, Texas, Colorado, Arizona, New Hampshire, and Connecticut. InBloom’s mission is to consistently achieve the best possible outcomes for their clients by focusing on clinical quality and innovation, hiring the best behavioral professionals, and investing in clinical support and professional development. To learn more visit: https://www.inbloomautism.com

Attachments



Will Posthumus
InBloom Autism Services
313-770-6372
[email protected]

Laird Superfood is Revolutionizing Coffee with the Launch of its New Functional Coffee Blend

The award-winning superfood brand releases four new products including the first-ever coffee with Vitamin D, botanicals and functional mushrooms for the most nourishing, next-level fueling experience

PR Newswire

SISTERS, Ore., Dec. 17, 2020 /PRNewswire/ — Laird Superfood (NYSE American: LSF), creator of assorted plant-based superfood products, today announced the expansion of its product line with the launch of Boost Coffee – the first ever coffee with Vitamin D. Boost Coffee was curated to naturally support you. Beginning with Laird Superfood’s medium roast coffee beans, functional extracts from Red Reishi and Maitake Mushrooms, Vitamin D from Agaricus Mushrooms, and Olive Leaf were added in to create the new Boost Coffee blend. Each 12oz serving offers 15% of your daily Vitamin D when brewed with a wire filter.

This new blend of coffee made with nourishing, functional, and plant-based ingredients is available for pre-order now. As one of the first food and beverage companies to venture into the functional coffee space, Laird Superfood is ushering in the next wave for the coffee industry and setting the precedent for the future functionality of coffee.

Laird Superfood Boost Coffee ingredients:

  • Organic Ground Medium Roast Coffee
  • Olive Leaf Powder
  • Organic Red Reishi Mushroom Extract
  • Organic Maitake Mushroom Extract
  • Organic Agaricus Mushroom Vitamin D Extract

With this launch, Laird Superfood introduces the first truly functional coffee that is as delicious as it is fueling. Each 12 oz. serving of Boost Coffee has 15% of an individual’s daily amount of Vitamin D when brewed according to directions. Upgraded to help consumers harness the benefits of thoughtful, functional ingredients and superfoods, Boost Coffee enhances the overall fueling experience.

“It has been a long-time goal to bring the first functional coffee blend to the superfood industry,” said Laird Hamilton, co-founder of Laird Superfood. “We believe that this new blend will radically change how we consume coffee. Once our customers experience the lasting benefits of the Boost Blend, they won’t want to return to a normal cup of coffee again.”

“In an effort to provide delicious, innovative products with functional benefits, we take normal, everyday rituals, such as your morning cup of coffee, to the next level,” said Sandy Egge, Director of Research & Development. “A morning cup can now deliver 15% of your daily value for Vitamin D, plus functional organic ingredients including Red Reishi, Maitake and Olive Leaf.”

In addition to the launch of Boost Coffee, Laird Superfood is launching three new items this month alone. The brand most recently introduced ACTIVATE Prebiotic Daily Greens supplements that are packed with superfood fruits and vegetables that nourish the gut microbiome.* Later this month, Laird Superfood is set to unveil Harvest Dates – a new plant-powered snack that provides a good source of fiber and can be added into smoothies and used for baking, as well as a limited-edition holiday coffee, Wonderful Winter Blend, that perfectly captures the delicious flavors of the season.

“This month we have launched four products that are meant to fuel every aspect of your day,” said Gabby Reece, Chief Brand Ambassador for Laird Superfood. “Whether looking to amplify your coffee, find a nourishing snack, or find balance internally, we want each item to be equally functional and easy to incorporate into a daily routine.”

Boost Coffee and the Wonderful Winter Blend are priced at $17.95 and $19.95, respectively, for 12 oz. bags. Harvest Dates are $19.95 for 16 oz. and ACTIVATE Prebiotic Daily Greens are $19.95 for a 4.2 oz bag. To purchase these products and for more information, visit lairdsuperfood.com.


About Laird Superfood

Laird Superfood, Inc. creates award-winning, plant-based superfood products that are both delicious and functional. Known for its highly popular coffee creamers, hydration products, supplements, roasted and instant coffees, teas, hot chocolate, and harvest snacks, the Company’s products are designed to enhance your daily ritual and keep consumers fueled naturally throughout the day. The Company was co-founded in 2015 by the world’s most prolific big-wave surfer, Laird Hamilton. Laird Superfood’s offerings are environmentally conscientious, responsibly tested, and made with real ingredients. Shop all products online at lairdsuperfood.com and join the Laird Superfood community on social media for the latest news and daily doses of inspiration.

*These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.

 

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SOURCE Laird Superfood