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Avivagen Inc. Announces Results for Fiscal Year Ending October 31, 2020

Avivagen Inc. Announces Results for Fiscal Year Ending October 31, 2020

OTTAWA, Ontario–(BUSINESS WIRE)–
Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen” or the “Company”) today reported its audited financial results for the fiscal year ended October 31, 2020. Unless otherwise noted, all figures are in Canadian currency.

“By all measures, Avivagen achieved considerable regulatory, customer, corporate and financial success in 2020,” said Kym Anthony, President and Chief Executive Officer, Avivagen Inc. “We’ve secured record breaking orders for OxC-beta from customers in established markets and received regulatory approval in key markets in Asia and South America. The successes achieved this year position Avivagen very strongly for continued growth worldwide, as we grow recurring order sizes and add new customers and partners in important feed production markets around the globe.”

Highlights from Avivagen’s fiscal 2020 include:

Regulatory Milestones

  • Secured approval for OxC-beta™ Livestock in Malaysia on December 5, 2019. Malaysia had an estimated total annual feed production of 4.8 million metric tonnes in 2019.
  • Signed agreement with COFCO Biotech on December 19, 2019 to support approval process efforts in China. COFCO is a leading supplier of agri-products to the Chinese market, with more than $17.5 billion in annual sales in 2018.
  • Secured approval in Brazil on June 24, 2020. Brazil is the world’s third largest feed production market, and a key exporter to regions such as Europe and China that have implemented bans against the use of antibiotics in livestock feed.

Customer Milestones

  • Secured first order in Malaysia on December 12, 2019, only a week after receiving regulatory approval in the country.
  • Secured first order in Mexico, by Industrias Melder, on March 25, 2020.
  • Secured new sales of OxC-beta™ Livestock in Taiwan and Thailand on April 2, 2020. Avivagen followed those sales with the Company’s largest sales order to date – a three tonne order by UNAHCO in the Philippines – less than a week later.
  • Mexico-based customer, Industrias Melder placed orders totaling two tonnes by May 20, 2020, following the positive results of two tests conducted by a key dairy farm client.
  • Secured first order for 125kg from Look Chemicals, Avivagen’s distribution partner in Brazil, on August 12, 2020.
  • Finalized record ten tonne order of OxC-beta from Industrias Melder on September 28, 2020, commencing early 2021, as well as new orders from Tesistan and Prolea in Mexico on October 6, 2020. Avivagen also joined Mexico-based industry associations, ANFACA and AMEPA at the same time, further connecting with the feed production communities across key regions in Mexico.
  • Secured record four tonne order from UNAHCO on October 13, 2020, marking the largest order to date from the Philippines. As a result of a typhoon which occurred in the region following the order, two tonnes of the order were shipped during Fiscal 2020, with the other two tonnes shipped in November 2020.
  • Received repeat and growing orders from Fwusow, one of Taiwan’s leading feed producers and integrators, for the use of OxC-beta in their pet food.
  • Completed the first sale of OxC-beta for use in layer hens, resulting in increased egg production and accolades from the producer.
  • Completed preparations for the launch of a human dietary health supplement in the US. The dietary supplement is set to launch via e-commerce within the next few weeks.

Financial and Corporate Milestones

  • Secured private placements of $1.25mm and $1.75mm on January 3 and January 27, 2020 respectively.
  • Listed on the OTCQB® Venture Market on January 8, 2020, helping to expand Avivagen’s investor presence in the United States.
  • Launched Dr. Tobias Dog Chews with Mimi’s Rock Corp. on Amazon.com and DrTobias.com on January 23, 2020.
  • Received positive results from New Zealand livestock dairy trail for sub-clinical mastitis on February 24, 2020, which extends the further use cases of OxC-beta™ Livestock.
  • Published a scientific paper “The effects of maternal supplementation with fully oxidised β-carotene on the reproductive performance and immune response of sows, as well as the growth performance of nursing piglets” in the British Journal of Nutrition on August 18, 2020.

Fiscal 2020 Financial Results

The Company’s Audited Financial Statements for the year ended October 31, 2020 and the accompanying Management’s Discussion and Analysis have been filed on the System for Electronic Document Analysis and Retrieval and are available via its website (www.sedar.com). The financial information for the year ended October 31, 2020 should be read in conjunction with the Company’s Audited Financial Statements as well as its Management’s Discussion and Analysis for the year ended October 31, 2020.

The Company reported revenues of $1,177,857 ($977,451 in the year ending October 31, 2019) and a comprehensive loss of $(4,751,287) for the year ended October 31, 2020. This compares to a comprehensive loss in the year ending October 31, 2019 of $(4,836,420). As at October 31, 2020, the Company reported total assets of $2,176,142 (current assets of $1,781,800), total liabilities of $6,943,752, and shareholders’ deficit of ($4,767,610).

Significant financing inflows in the fiscal year totalled $3,750,000. This consisted of a private placement equity financing of $3,000,000 and a debt financing of $750,000 all raised within the confines of a volatile and challenging market.

About Avivagen

Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications. By unlocking an overlooked facet of β-carotene activity, a path has been opened to safely and economically support immune function, thereby promoting general health and performance in animals. Avivagen is a public corporation traded on the TSX Venture Exchange under the symbol VIV and on the OTCQB Exchange in the U.S. under the symbol VIVXF, and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada and Charlottetown, Prince Edward Island. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.

About OxC-beta™ Technology and OxC-beta™ Livestock

Avivagen’s OxC-beta™ technology is derived from Avivagen discoveries about β-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Taiwan, New Zealand, Thailand, Mexico, Brazil, Australia and Malaysia.

Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta™ Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements involve risks and uncertainties associated with the business of Avivagen Inc. and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “aim”, “anticipate”, “appear”, “believe”, “consider”, “could”, “estimate”, “expect”, “if”, “intend”, “goal”, “hope”, “likely”, “may”, “plan”, “possibly”, “potentially”, “pursue”, “seem”, “should”, “whether”, “will”, “would” and similar expressions. Statements set out in this news release relating to the continued distribution and acceptance of Avivagen’s technology, anticipated growth in demand for Avivagen’s products, the expectation that Avivagen’s global footprint, strong partnerships and rapidly expanding customer list positions it strongly for the future, the expectation that the nutraceuticals business will launch in the next few weeks, the possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds as well as fill a critical need for health support in certain livestock applications where antibiotics are precluded and the size of market opportunitiesare all forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. For instance, these initial orders may not result in new orders for Avivagen’s products, demand for Avivagen’s products may not continue to grow and could decline, Avivagen’s products may not gain market acceptance or regulatory approval in new jurisdictions or for new applications and may not be widely accepted as a replacement for antibiotics in livestock feeds, new market access and the market launch and acceptance of the nutraceuticals business may not occur in the timeline or manner expected by Avivagen and the market opportunities may not be as large as Avivagen anticipates, all due to many factors, many of which are outside of Avivagen’s control. Trial results described above may not be indicative of anticipated results of using Avivagen’s products in all cases. Readers are referred to the risk factors associated with the business of Avivagen set out in Avivagen’s most recent management’s discussion and analysis of financial condition available at www.SEDAR.com. Except as required by law, Avivagen assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Neither 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.

Copyright © 2020 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.

Avivagen Inc.

Drew Basek

Director of Investor Relations

100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6

416-540-0733

[email protected]

Kym Anthony

Chief Executive Officer

100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6

613-949-8164

www.avivagen.com

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Veterinary Agriculture Biotechnology Natural Resources Pets Health Consumer Fitness & Nutrition

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Minnesota Power Reaches 50 Percent Renewable Energy Milestone to Lead Minnesota Utilities

Minnesota Power Reaches 50 Percent Renewable Energy Milestone to Lead Minnesota Utilities

DULUTH, Minn.–(BUSINESS WIRE)–
Minnesota Power customers are now receiving half of their energy from renewable sources as the company becomes the first Minnesota utility to deliver 50 percent renewable energy to customers.

The achievement highlights the success of Minnesota Power’s EnergyForward strategy to transition to cleaner energy sources while meeting customer expectations for reliable and affordable electricity. The company reached this milestone when the Nobles 2 wind project in southwestern Minnesota came online this month.

“We are committed to advancing a sustainable future of reliable, affordable and increasingly lower-carbon energy for our customers and our communities and this is an important milestone in our clean energy transformation from relying almost completely on coal to delivering 50 percent renewable energy, accomplished while keeping our residential rates the lowest in the state of Minnesota and improving the reliability of our system,” said ALLETE President and CEO Bethany Owen. “We are proud of how far we have come in this transformation, but we know we have more work to do.”

The Nobles 2 wind project will supply renewable energy to Minnesota Power through a 20-year power purchase agreement. The project also is an investment for ALLETE; it is owned by Nobles 2 Power Partners LLC, whose investors include an ALLETE subsidiary, energy company Tenaska and Bright Canyon Energy.

With Nobles 2 operational, Minnesota Power’s wind portfolio has grown to approximately 870 megawatts of owned and contracted wind capacity. The Nobles 2 wind addition also adds geographic diversity to Minnesota Power’s wind portfolio, complementing its North Dakota wind sites and contracts.

Nobles 2 is the second 2020 project to help Minnesota Power reach 50 percent renewable. The first was the Great Northern Transmission line, energized this past June. This 500 kV line delivers 250 megawatts of carbon-free hydropower from Manitoba Hydro to Minnesota Power customers. Innovative power purchase agreements with Manitoba Hydro include a unique wind provision that allows Minnesota Power the flexibility to balance its intermittent wind energy in North Dakota with hydroelectric power that is available on demand.

Beyond this milestone, Minnesota Power is making additional plans to further transform its energy supply.

“Minnesota Power’s next biennial Integrated Resource Plan is scheduled to be submitted to the Minnesota Public Utilities Commission in February,” said Julie Pierce, Minnesota Power Vice President of Strategy and Planning. “That plan will outline scenarios for the thoughtful transition of our coal units at Boswell 3 and 4, the next steps for the transition to even more renewable energy, and more investments in the grid to enhance reliability, all while working to ensure affordability, the health of our communities, and opportunities for our employees.”

Under Minnesota Power’s EnergyForward strategy, the company has:

  • Reduced carbon emissions by 50 percent from 2005 to present.
  • Retired or idled seven of nine coal-fired generators.
  • Added nearly 900 megawatts of wind energy to its energy mix.
  • Added 11 megawatts of solar energy, with plans to add about 20 more megawatts in 2021.
  • Improved the reliability and resiliency of transmission and distribution systems.
  • Refurbished the state of Minnesota’s largest hydropower system to keep it operating for decades into the future.
  • Added smart meters and other technologies to help customers gain more control over their energy use and their bills.

Minnesota Power provides electric service within a 26,000-square-mile area in northeastern Minnesota, supporting comfort, security and quality of life for 145,000 customers, 15 municipalities and some of the largest industrial customers in the United States. More information can be found at www.mnpower.com. ALE-CORP

The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.

Amy Rutledge

Manager – Corporate Communications

Minnesota Power/ALLETE

218-348-2961

[email protected]

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Other Manufacturing Environment Other Energy Utilities Alternative Energy Manufacturing Other Natural Resources Energy Agriculture Natural Resources

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Verizon Business and Walgreens Boots Alliance partner to power digital customer experiences at Walgreens stores nationwide

BASKING RIDGE, N.J., Dec. 16, 2020 (GLOBE NEWSWIRE) — Verizon Business and Walgreens Boots Alliance (WBA) today announced a multi-year strategic partnership where Verizon will deploy their Network as a Service (NaaS), an all-encompassing solution that will deliver an enhanced customer experience to more than 9,000 Walgreens and Duane Reade retail locations across the US. The foundation of the partnership is underpinned by the full breadth of Verizon’s assets including LTE, 5G, and Verizon Media, which will enable Verizon to continuously offer the latest in technological and business process innovation.

“This is the largest, fully customized, Network as a Service solution for a partner on this scale,” said Tami Erwin, Chief Executive Officer, Verizon Business. “Working closely with Walgreens to understand their focus areas, we’ve tailored an offering that will meet their technology needs of today, and quickly scale to offer a rolling deployment of 5G in Walgreens locations, next-gen in-store experiences for customers and employees, and future-proofed backend operations to enhance efficiencies.”

“WBA’s digital transformation is focused on modernizing and digitizing our company to provide customers with seamless and personalized shopping experiences, whether in-store, online or in the palm of their hand,” said Mike Maresca, Global Chief Technology Officer, Walgreens Boots Alliance. “We continue to enhance our business systems and processes both internally and with industry-leading partners to meet the changing needs of Walgreens customers and boost productivity across our workforce. Verizon’s 20 years of experience in this space will help transform our network in the US and also serve as a foundation for our future digital innovations.”

What Network as a Service is and why it matters

Verizon Business’ network as a service (NaaS) is an on-demand solution utilizing the latest connectivity, network and security technologies. The on-demand offering takes multiple technologies, and delivers a single solution to the customer to enable their digital transformation. As technology evolves, customers like Walgreens will have the newest technology almost instantly and can focus on what matters to them most.

The 5G future and co-innovation possibilities

Verizon’s 5G network is the foundational technology for 21st-century innovation. Businesses that make the decision to invest in 5G now will be ahead of the curve and in a position to lead their industry as 5G adoption increases. Things like augmented and virtual reality experiences built on Verizon’s 5G network will be key in delivering lifestyle management solutions in areas such as nutrition and wellness via customers’ delivery method of choice, either remotely with digital devices and digital applications or with an in-store expert enhanced with smart wearables in the future.

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is celebrating its 20th year as one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $131.9 billion in 2019. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

About Walgreens Boots Alliance

Walgreens Boots Alliance (Nasdaq: WBA) is a global leader in retail and wholesale pharmacy, touching millions of lives every day through dispensing and distributing medicines, its convenient retail locations, digital platforms and health and beauty products. The company has more than 100 years of trusted health care heritage and innovation in community pharmacy and pharmaceutical wholesaling.

Including equity method investments, WBA has a presence in more than 25 countries, employs more than 450,000 people and has more than 21,000 stores.

WBA’s purpose is to help people across the world lead healthier and happier lives. The company is proud of its contributions to healthy communities, a healthy planet, an inclusive workplace and a sustainable marketplace. WBA is a Participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business.

WBA is included in FORTUNE’s 2020 list of the World’s Most Admired Companies. This is the 27th consecutive year that WBA or its predecessor company, Walgreen Co., has been named to the list. More company information is available at www.walgreensbootsalliance.com.

*© 2019, Fortune Media IP Limited. Used under license.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at https://www.verizon.com/about/media-center. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:

Kyle Ragonese
[email protected]
732.236.3526
@KyleRagonese

Steven Cohen
[email protected]
847.282.2465



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NeuBase Therapeutics Announces Positive Preclinical In Vivo Data for PATrOL™-enabled Anti-gene for the Treatment of Myotonic Dystrophy Type 1

In vivo data after single-dose IV administration demonstrate engagement with DMPK mRNA and broad rescue of mis-splicing across key transcripts

Findings provide support for hypothesized mechanism of action of anti-gene, which is designed to not degrade the DMPK transcript

Data further validate the potential of the PATrOL™ platform to develop highly targeted therapies that increase, decrease or change causal protein function


NeuBase management to hold conference call and webcast today, December 16, at 8:00 a.m. EST

PITTSBURGH, Pa., Dec. 16, 2020 (GLOBE NEWSWIRE) — NeuBase Therapeutics, Inc. (Nasdaq: NBSE) (“NeuBase” or the “Company”), a biotechnology company accelerating the genetic revolution using a new class of synthetic medicines, today announced positive in vitro and in vivo preclinical data for its PATrOL™-enabled anti-gene therapies for the treatment of myotonic dystrophy type 1 (DM1). These new data show that PATrOL-enabled Compound A can rapidly resolve mis-splicing without negatively impacting DMPK protein levels. They also support the potential of NeuBase’s anti-gene approach to comprehensively treat the underlying cause of DM1.

“Despite the fact that the genetic basis of DM1 is well understood today, there is still an urgent need to find the first genetically-targeted, disease-modifying treatment option for affected patients,” said Curt Bradshaw, Ph.D., Chief Scientific Officer of NeuBase. “DM1 is caused by a genetic mutation in the DMPK gene leading to mis-splicing of a broad spectrum of genes and DMPK protein insufficiency. A treatment option that addresses mis-splicing while retaining functional DMPK protein levels may be key to treating all aspects of DM1.”

Dietrich A. Stephan, Ph.D., Chief Executive Officer of NeuBase, added, “Using our proprietary PATrOL platform, we have designed a first-in-class anti-gene candidate that selectively binds mutant DMPK mRNA and opens its hairpin secondary structure, as opposed to a mechanism of action that explicitly degrades the mutant and wild-type transcripts indiscriminately, making it a unique option for the treatment of DM1. These in vitro and in vivo data both support our hypothesized mechanism of action and demonstrate rapid and broad resolution of the mis-splicing that is the primary cause of DM1.

“This is the second set of positive data that we’ve announced in 2020 for our PATrOL-enabled therapies, which we believe serves as proof of concept that further validates our technologic foundation. With a single unified platform, we believe we can increase, decrease or change protein function of potentially any nucleic acid target, unique among genetic medicine approaches. We are excited by the progress we have made and look forward to providing additional updates on our platform and pipeline of programs at an R&D day in the first half of 2021.”

In vitro data highlights in DM1 patient-derived fibroblasts:

• Compound A traffics to the nucleus, engages and normalizes DMPK mRNA.  
• Compound A rescues mis-splicing of two key DM1 dysregulated transcripts (MBNL1 and MBNL2) within two days after initial treatment. Notably, induction of rescue continues to improve through day 9, the latest time point analyzed.  
• Compound A significantly induces broad correction of global exon inclusion levels of mis-spliced transcripts.  
    º Statistically significant improvement in global splicing as measured by the human differential splice inclusion (hDSI) statistic.
    º More than 175 dysregulated human transcripts achieved statistically significant improvement in splicing, many with completely normalized exon usage.
• DMPK protein levels remain unchanged 5 days after a single Compound A dose, supporting the hypothesized mechanism of action maintaining DMPK.  

In vivo data highlights in the HSALR transgenic mouse model of DM1 that expresses high levels of mutant CUG-repeat-containing mRNA (HSA) in skeletal muscle:

• A single intravenous (IV) injection of 29 mg/kg of Compound A traffics to the nucleus and engages HSA mRNA within 24 hours in tibialis anterior (TA) skeletal muscle.
• A single intravenous (IV) injection of Compound A significantly induces broad correction of global exon inclusion levels of mis-spliced transcripts in HSALR TA skeletal muscle at day 13.
• Statistically significant improvement in global splicing as measured by the murine differential splice inclusion (mDSI) statistic.
    º More than 50 unique dysregulated murine transcripts achieved statistically significant improvement in splicing post-treatment, with many achieving complete normalization of appropriate exon usage.
• Compound A was well tolerated after single dose administration at the dose demonstrating activity in vivo.

DM1 is a rare, autosomal dominant repeat expansion disorder characterized by progressive muscle wasting and weakness. It also affects the central nervous system (CNS) and heart. DM1 is caused by CTG nucleic acid repeats in the DMPK gene that produce a hairpin structure in the transcribed DMPK mRNA. The hairpin structure sequesters critical splice regulators and results in the mis-splicing of multiple gene transcripts. Furthermore, the binding of splice regulators traps the mutant DMPK mRNA in the nucleus, resulting in DMPK protein haploinsufficiency, or half the level of protein that is needed for normal function, which is thought to exacerbate the CNS and cardiac symptoms that are characteristic of DM1 (as knock-out mice for Dmpk show both severe cardiac conduction defects as well as issues with neuronal cytoskeletal remodeling manifesting in aberrant long-term potentiation). The prevalence of DM1 is >5/100,000 in the general population. There are currently no approved treatments for DM1.

Conference Call and Webcast Details

NeuBase Therapeutics, Inc. will discuss these data during a webcasted conference call with slides today, December 16, 2020, at 8:00 a.m. EST. To access the webcast, please click here. An archived recording of this presentation will be available following the call through the IR Calendar page on the Investors section of the Company’s website, www.neubasetherapeutics.com.

About NeuBase Therapeutics, Inc.

NeuBase is accelerating the genetic revolution using a new class of synthetic medicines. NeuBase’s designer PATrOL™ therapies are centered around its proprietary drug scaffold to address genetic diseases at the source by combining the highly targeted approach of traditional genetic therapies with the broad organ distribution capabilities of small molecules. With an initial focus on silencing disease-causing mutations in debilitating neurological, neuromuscular and oncologic disorders, NeuBase is committed to redefining medicine for the millions of patients with both common and rare conditions. To learn more, visit www.neubasetherapeutics.com.

Use of Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements are distinguished by use of words such as “will,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” or “intend,” the negative of these terms, and similar references to future periods. These forward-looking statements include, among others, those related to the potential significance and implications of the Company’s positive in vitro and in vivo preclinical data for its PATrOL™-enabled anti-gene therapies for the treatment of myotonic dystrophy. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. Our forward-looking statements contained herein speak only as of the date of this press release. Factors or events that we cannot predict, including those risk factors contained in our filings with the U.S. Securities and Exchange Commission, may cause our actual results to differ from those expressed in forward-looking statements. The Company may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements, and you should not place undue reliance on these forward-looking statements. Because such statements deal with future events and are based on the Company’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of the Company could differ materially from those described in or implied by the statements in this press release, including: the Company’s plans to develop and commercialize its product candidates; the timing of initiation of the Company’s planned clinical trials; the risks that prior data will not be replicated in future studies; the timing of any planned investigational new drug application or new drug application; the Company’s plans to research, develop and commercialize its current and future product candidates; the clinical utility, potential benefits and market acceptance of the Company’s product candidates; the Company’s commercialization, marketing and manufacturing capabilities and strategy; global health conditions, including the impact of COVID-19; the Company’s ability to protect its intellectual property position; and the requirement for additional capital to continue to advance these product candidates, which may not be available on favorable terms or at all, as well as those risk factors contained in our filings with the U.S. Securities and Exchange Commission. Except as otherwise required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.

NeuBase Investor Contact:

Dan Ferry
Managing Director
LifeSci Advisors, LLC
[email protected]
OP: (617) 430-7576

NeuBase Media Contact:

Cait Williamson, Ph.D.
LifeSci Communications
[email protected]
OP: (646) 751-4366



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CENTOGENE Reports Third-Quarter 2020 Financial Results and Increases Full Year Guidance

CAMBRIDGE, Mass. and ROSTOCK, Germany and BERLIN, Dec. 16, 2020 (GLOBE NEWSWIRE) — Centogene N.V. (Nasdaq: CNTG) (“CENTOGENE” or the “Company”), a commercial-stage company focused on rare diseases that transforms real-world clinical and genetic data into actionable information for patients, physicians, and pharmaceutical companies, today provided an update on its corporate progress and reported its financial results for the three and nine months ended September 30, 2020.

  • Revenues increased 212% compared to Q3 2019, driven by the continued expansion of our COVID-19 testing offering
  • Increased 2020 full-year revenue guidance to more than €100 million
  • Continued growth of new pharma partnerships, with 12 new deals signed and a robust recovery anticipated in 2021
  • Expansion of commercial COVID-19 testing, which now includes antigen testing
  • Announced leadership transition and appointment of Dr. Andrin Oswald as Chief Executive Officer to support the next stage of the Company’s growth

Andrin Oswald, M.D., Chief Executive Officer at CENTOGENE, said, “I am excited to have joined CENTOGENE at such an important stage in the Company’s evolution. While I have only been with CENTOGENE for a few weeks, it is clear to me that our entire team is focused on achieving a common goal of helping rare disease patients around the world. We believe that our mission has the potential to significantly reduce the burden of rare diseases – and offers an exciting value creation opportunity for our stakeholders at the same time. Leveraging more than 20 years of professional experience across the life sciences, including my time at Novartis and the Bill and Melinda Gates Foundation, I am looking forward to helping further scale and accelerate CENTOGENE’s growth as a leader in the rare disease space.”

Richard Stoffelen, Chief Financial Officer at CENTOGENE, said, “During the third quarter, we saw a significant increase in our revenues, year-over-year, driven by our ability to leverage our core competency in precise medical diagnoses to pivot quickly and provide solutions to help address the COVID-19 pandemic. As we approach the end of what has been an unprecedented year, I would like to thank the entire CENTOGENE team once more for their flexibility and unwavering commitment.”

A Solid Foundation for 2021

CENTOGENE has leveraged its core competency of providing precise medical diagnoses, as well as its infrastructure, to help prevent further outbreaks of SARS-CoV-2 (COVID-19) throughout 2020. As part of this initiative, CENTOGENE has become one of the largest COVID-testing companies in Europe and created a pioneering and leading role in providing testing services at airports. The positive financial contribution from COVID-19 testing will enable the Company to make strategic investments to further solidify its leading position in the rare disease space. The number of Pharma partnership discussions have also continued to increase since Q2 2020, positioning CENTOGENE for further progress in 2021.

Further information on the Company’s Q3 2020 Earnings, including the management’s discussion and analysis of financial condition and results of operations, can be found by visiting EDGAR on the SEC website at www.sec.gov, as well as the Investor Relations page of the Company’s website at http://investors.centogene.com.

About CENTOGENE

CENTOGENE engages in diagnosis and research around rare diseases transforming real-world clinical and genetic data into actionable information for patients, physicians, and pharmaceutical companies. Our goal is to bring rationality to treatment decisions and to accelerate the development of new orphan drugs by using our extensive rare disease knowledge, including epidemiological and clinical data, as well as innovative biomarkers. CENTOGENE has developed a global proprietary rare disease platform based on our real-world data repository with over 3.6 billion weighted data points from approximately 595,000 patients representing over 120 different countries as of September 30, 2020.

The Company’s platform includes epidemiologic, phenotypic, and genetic data that reflects a global population, and also a biobank of these patients’ blood samples. CENTOGENE believes this represents the only platform that comprehensively analyzes multi-level data to improve the understanding of rare hereditary diseases, which can aid in the identification of patients and improve our pharmaceutical partners’ ability to bring orphan drugs to the market. As of September 30, 2020, the Company collaborated with over 40 pharmaceutical partners covering over 45 different rare diseases.

Important Notice and Disclaimer

This press release contains statements that constitute “forward-looking statements” as that term is defined in the United States Private Securities Litigation Reform Act of 1995, including statements that express the Company’s opinions, expectations, beliefs, plans, objectives, assumptions, or projections regarding future events or future results, in contrast with statements that reflect historical facts. Examples include discussion of our strategies, financing plans, growth opportunities, and market growth. In some cases, you can identify such forward-looking statements by terminology such as “anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project” or “expect,” “may,” “will,” “would,” “could,” or “should,” the negative of these terms or similar expressions. Forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to the Company. However, these forward-looking statements are not a guarantee of our performance, and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties, and other variable circumstances, such as negative worldwide economic conditions and ongoing instability and volatility in the worldwide financial markets, the effects of the COVID-19 pandemic on our business and results of operations, possible changes in current and proposed legislation, regulations and govern-mental policies, pressures from increasing competition and consolidation in our industry, the expense and uncertainty of regulatory approval, including from the U.S. Food and Drug Administration, our reliance on third parties and collaboration partners, including our ability to manage growth and enter into new client relationships, our dependency on the rare disease industry, our ability to manage international expansion, our reliance on key personnel, our reliance on intellectual property protection, fluctuations of our operating results due to the effect of exchange rates, or other factors. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of the Company’s control and could cause its actual results to differ materially from those it thought would occur. The forward-looking statements included in this press release are made only as of the date hereof. The Company does not undertake, and specifically declines, any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law.

For further information, please refer to the Risk Factors section in our Annual Report for the year ended December 31, 2019, on Form 20-F filed with the SEC on April 23, 2020, Form 6-K containing our financial results for the three months ended March 31, 2020, furnished to the SEC on June 15, 2020, Form 6-K containing our financial results for the three and nine months ended September 30, 2020, furnished to the SEC on December 16, 2020, and other current reports and documents furnished to or filed with the U.S. Securities and Exchange Commission (SEC). You may get these documents by visiting EDGAR on the SEC website at www.sec.gov.

 



Media Contact:

CENTOGENE 
Sun Kim
Chief Strategy and Investor Relations Officer
[email protected]     

FTI Consulting 
Bridie Lawlor O’Boyle
+1.917.929.5684 
[email protected]

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Ormat Expands Energy Storage Presence, Acquires a Shovel-Ready Project in Upton County, Texas

This Acquisition Reinforces the Company’s 2022 Growth Target

RENO, Nev., Dec. 16, 2020 (GLOBE NEWSWIRE) — Ormat Technologies, Inc. (NYSE: ORA) today announced that it has completed the acquisition of a shovel-ready energy storage asset in Upton County, Texas. Ormat acquired the asset from Con Edison Development. Ormat’s wholly owned subsidiary, Viridity Energy Solutions Inc., will design, build, own and operate a 25 MW battery energy storage system (BESS) project at the site. The project is co-located with an operational 157 MW solar PV generating facility that is owned and operated by CED Upton County Solar, LLC. Ormat is targeting commercial operation of the BESS before the end of 2021.

The BESS facility will provide much needed ancillary services and energy optimization to the wholesale markets managed by the Electricity Reliability Council of Texas (ERCOT). Texas is currently experiencing growth in renewable energy deployment and fast-acting energy storage resources are expected to play an increasing role in allowing ERCOT to absorb such intermittent generators, while also coping with increased frequency of extreme weather events.

Doron Blachar, Chief Executive Officer of Ormat Technologies, commented, “This represents our second energy storage project in Texas, following the success of our Rabbit Hill BESS project which has been operating with high availability within the ERCOT market since April of this year. We are delighted to have been able to partner with Con Edison Development, a leading renewable energy developer and independent power producer, and hope to extend this collaboration further in the future. With this second project, Ormat strengthens its position as one of the early movers in the ERCOT energy storage market. Ormat is well-positioned to grow its energy storage footprint, and this acquisition reinforces our target to add between 80 MW to 175 MW revenue-generating energy storage assets by year end 2022 and is in-line with our stated strategy to build, own and operate energy storage assets in strategic high growth markets including Texas.”  

ABOUT ORMAT TECHNOLOGIES

With over five decades of experience, Ormat Technologies, Inc. is a leading geothermal company and the only vertically integrated company engaged in geothermal and recovered energy generation (“REG”), with the objective of becoming a leading global provider of renewable energy. Ormat owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. With 68 U.S. patents, Ormat’s power solutions have been refined and perfected under the most grueling environmental conditions. Ormat has 578 employees in the United States and 830 overseas. Ormat’s flexible, modular solutions for geothermal power and REG are ideal for vast range of resource characteristics. Ormat has engineered, manufactured and constructed power plants, which it either currently owns or has installed for utilities and developers worldwide, totaling approximately 3,200 MW of gross capacity. Ormat’s current 933 MW generating portfolio is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe. Ormat leveraged its core capabilities and global presence, together with the energy storage expertise of its subsidiary, Viridity Energy Solutions Inc., to expand its operations to provide energy storage and energy management solutions.

ORMAT’S SAFE HARBOR STATEMENT

Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to Ormat’s plans, objectives and expectations for future operations and are based upon its management’s current estimates and projections of future results or trends. Actual future results may differ materially from those projected as a result of certain risks and uncertainties.

For a discussion of such risks and uncertainties, see “Risk Factors” as described in Ormat’s Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 2, 2020 and from time to time, in Ormat’s quarterly reports on Form 10-Q that are filed with the SEC.

These forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Ormat Technologies Contact:

Smadar Lavi

VP Corporate Finance and Head of Investor Relations

775-356-9029 (ext. 65726)

[email protected]

 Investor Relations Agency Contact:

Rob Fink

FNK IR

646-809-4048

[email protected]



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Nagarro Commences Trading on the Frankfurt Stock Exchange

PR Newswire

FRANKFURT, Germany, Dec. 16, 2020 /PRNewswire/ — Nagarro SE (ISIN: DE000A3H2200) (WKN: A3H220) (FRA: NA9), a global leader in digital engineering and technology solutions, today started trading on the Frankfurt Stock Exchange. The opening price was EUR 69.00, which corresponds to a market capitalization of EUR 785.39 million. The listing follows the completion of Nagarro’s spin-off from Allgeier SE.

Manas Fuloria, Custodian of Entrepreneurship in the Organization (CEO) of Nagarro, said, “Over 8,400 Nagarrians work enthusiastically across 25 countries to deliver best-in-class digital engineering services to our wonderful clients. And each and every one of us can be justifiably proud today. We look forward to beginning the next chapter of our journey, now as an independent public company.”  

Nagarro offers a full-service portfolio of digital product engineering, digital commerce and customer experience, managed services, enterprise resource planning (“ERP”) consulting and other services. Nagarro has a diverse and loyal 750+ blue-chip customer base across all industries. Nagarro reported revenues of €402M, an adjusted EBITDA of €58M and an adjusted EBITDA margin of 14% for full year 2019. In the first nine months of 2020, revenue reached €321M and adjusted EBITDA €58M, which equals an EBITDA margin of 18%.

About Nagarro

Nagarro (FRA: NA9) is a global digital engineering company offering a full-service portfolio of digital product engineering, digital commerce and customer experience, managed services, ERP consulting and technology services. Customers choose Nagarro because of their differentiated combination of digital engineering power, entrepreneurial mindset, agile delivery capabilities, and global presence. Nagarro employs over 8,400 people in 25 countries. For more information, visit www.nagarro.com.

(ISIN: DE000A3H2200) (WKN: A3H220)

Contact
Media Relations:
Edelman for Nagarro
Alexander Schmidt
[email protected]

Investor Relations:
Nagarro SE
Dr. Christopher Große
[email protected]

Disclaimer

This communication and the information contained therein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy or subscribe for any securities of Allgeier SE or Nagarro SE. This communication is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation of such jurisdiction or which would require any registration or licensing within such jurisdiction. Any failure to comply with these restrictions may constitute a violation of the laws of other jurisdictions. Any securities to be distributed in connection with this transaction have not been and will not be registered under the U.S. Securities Act of 1933 (as amended) or the laws of any state of the U.S. Neither Allgeier SE nor Nagarro SE intends to register any securities referred to herein in the U.S.

This communication is directed only at persons in the United Kingdom (“U.K.”) in circumstances where section 21(1) of the Financial Services and Markets Act 2000 does not apply. This communication and the information contained therein does not constitute an offer document or an offer of securities to the public in the U.K. to which section 85 of the Financial Services and Markets Act 2000 of the U.K. applies and is not, and should not be considered as, a recommendation that any person should subscribe for or purchase any securities. This communication and the information contained therein is being communicated only to (i) persons who are outside the U.K.; (ii) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Order”) or (iii) persons within the scope of article 43 of the Order or (iv) high net worth companies, unincorporated associations and other bodies who fall within article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). Any investment or investment activity to which this communication and the information contained therein relates is available only to and will be engaged in only with Relevant Persons, and any person who is not a Relevant Person must not act or rely on this communication or any of its contents. This communication and the information contained therein should not be published, reproduced, distributed or otherwise made available, in whole or in part, to any other person without the prior consent of Allgeier SE or Nagarro SE.

This communication contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management of Allgeier SE and Nagarro SE. Forward-looking statements involve known and unknown risks and uncertainties and, therefore, should not be construed as guarantees of future results, performance and events. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting Nagarro SE, and other factors. Allgeier SE or Nagarro SE do not undertake any obligation to update any forward-looking statements.

Advertisement

This communication is an advertisement for the purposes of the Prospectus Regulation EU 2017/1129 and underlying legislation. It is not a prospectus. The listing of the shares of Nagarro SE on the regulated market of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) will take place on the basis of an approved prospectus. The prospectus has been approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – “BaFin”) in accordance with the Prospectus Regulation regime. However, the approval of the prospectus by BaFin should not be understood as an endorsement of the shares of Nagarro SE. Investors should purchase shares solely on the basis of the prospectus relating to the shares and should read the prospectus before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the shares. Copies of the prospectus are available free of charge on Nagarro SE’s website (https://www.nagarro.com).

 

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SOURCE Nagarro

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Aura Announces Commercial Production at Gold Road

ROAD TOWN, British Virgin Islands, Dec. 16, 2020 (GLOBE NEWSWIRE) — Aura Minerals Inc. (TSX: ORA; B3: AURA33) (“Aura” or the “Company”) is pleased to announce that the Gold Road mine (“Gold Road”), located in Arizona, United States, has declared commercial production effective December 1st, 2020.

Highlights

  • Start up of operations at Gold Road commenced on September 1st, 2020.
  • The Company announced the shipment of the first lot of gold production from Gold Road on September 17, 2020.
  • Plant throughput at Gold Road averaged 370 tons a day or 74% of rated capacity for the period September through November 2020. Throughput averaged 415 tons a day in October or 83% of rated capacity.

Rodrigo Barbosa, the Company’s President and CEO noted, “I am proud of this achievement. Since we acquired Gold Road in March 2020, we have worked hard to implement all our safety standards. Further, we poured and shipped our first lot of gold in September 2020, and have now reached commercial production, according to plan. We expect to continue to invest in geology to gain better knowledge and to convert and expand resources.”

Qualified Person

Farshid Ghazanfari, P.Geo., Geology and Mineral Resources Manager for Aura Minerals Inc. has reviewed and confirmed the scientific and technical information contained within this news release and serves as the Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable securities laws (collectively, “forward-looking statements”), including, but not limited to, the future development of Gold Road.

Known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s ability to predict or control, could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.

All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

About Aura 360° Mining

Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining.

Aura is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the Americas. The Company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a -Pique gold mine in Brazil, the Aranzazu copper-gold-silver mine in Mexico and the Gold Road mine in the United States. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.

For further information, please visit Aura’s website at www.auraminerals.com or contact:

Rodrigo Barbosa
President & CEO
305-239-9332



Posted on

BABA INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit has been Filed Against Alibaba Group Holding Limited

PR Newswire

New York, Dec. 16, 2020 /PRNewswire/ — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Alibaba Group Holding Limited (“Alibaba” or the “Company”) (NYSE: BABA) from  July 20, 2020 through  November 3, 2020 (the “Class Period”). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934..

If you purchased Alibaba  securities, and/or would like to discuss your legal rights and options please visit BABA Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected]

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) Ant Group did not meet listing qualifications or disclosure requirements for certain material matters; (ii) certain impending changes in the Fintech regulatory environment would impact Ant Group’s business; (iii) as a result of the foregoing, Ant Group’s IPO was reasonably likely to be suspended; and (iv) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On November 2, 2020, Financial Times reported that Chinese regulators had met with Ant Group’s controller Jack Ma, executive chairman Eric Jing, and Chief Executive Officer Simon Hu. The article stated that, though regulators did not provide details, “the Chinese word used to describe the interview yuetan generally indicates a dressing down by authorities.” The article also included a statement from Ant Group that it will “implement the meeting opinions in depth.”

On November 3, 2020, the IPO was suspended because Ant Group “may not meet listing qualifications or disclosure requirements due to material matters” related to the meeting with regulators the previous day and “the recent changes in the Fintech regulatory environment.”

On this news, Alibaba’s American Depository Share price fell $25.27 per share, or 8%, to close at $285.57 per share on November 3, 2020, on unusually heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than January 12, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased Alibaba securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/alibabagroupholdinglimited-baba-shareholder-class-action-lawsuit-stock-fraud-344/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information:
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
[email protected]

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SOURCE Bernstein Liebhard LLP

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Abu Dhabi Securities Exchange and the Tel Aviv Stock Exchanges sign Memorandum of Understanding

Springboard for UAE and Israel companies to access new sources of capital and investment, and to collaborate in the development and commercialization of innovative financial technologies

PR Newswire

ABU DHABI, UAE and TEL AVIV, Israel, Dec. 16, 2020 /PRNewswire/ — Abu Dhabi Securities Exchange (ADX) and the Tel Aviv Stock Exchange (TASE: TASE) have, today, signed a memorandum of understanding (MOU), the first time an Arab exchange has entered into a commercial relationship with the state of Israel. The MOU will facilitate the development of channels of communication to foster co-operation between the two exchanges, and contribute to the growth of the capital markets in the United Arab Emirates and Israel. 

The MOU was formally signed today by H.E. Mohamed Ali Al Shorafa Al Hammadi, Chairman of ADX, and Amnon Neubach, Chairman of TASE, at a virtual signing ceremony. A video of the event can be viewed here https://youtu.be/zX8Gn-u6SH0.

The MOU comes after the signing of the peace agreement between the two countries. This MOU forms an important part of the UAE’s efforts to expand diplomatic and commercial co-operation with Israel, by laying out a road map towards developing bilateral relations through the stimulation of economic growth and the promotion of technological innovation.

One of the key purposes of the MOU between ADX and TASE is to explore potential opportunities for collaboration, including: the cross listing of securities; mutual trading by each exchange’s respective members; facilitating investor access to each other’s markets; creating new fintech and other market infrastructure technologies; and sharing data and other information to enable the development of new products. These activities aim to facilitate easy access between the two capital markets. It will also offer an attractive marketplace to all key stakeholders including listed companies, investors, and brokers as well as providers and consumers of information.

H.E. Mohamed Ali Al Shorafa Al Hammadi, Chairman of ADX, commented: “As the relationship between the UAE and Israel enters a new era, the path is open for businesses from both countries to collaborate with each other and unlock commercial opportunities. The MOU ADX and TASE have signed is an early example of such collaboration and evidence of our commitment to drive value in the region through trade and commerce. By offering companies and investors more ways of achieving their business objectives, we are supporting the vision of the peace agreement that should benefit all people across the region.”

Mr. Saeed Hamad Al Dhaheri, Chief Executive of ADX, added: “The MOU between ADX and TASE clearly illustrates how exchanges can partner for the mutual benefit by sharing ideas, information, and initiatives that add value to both parties. Innovation and technology form such a key component of collaboration between the UAE and Israel. This is especially relevant for ADX because it will encourage entrepreneurial businesses to attract investors and access to capital, a core element of our growth strategy.”


Amnon Neubach, Chairman of the Tel Aviv Stock Exchange, commented: “The Tel Aviv Stock Exchange is very honored to sign today the historic MOU. We are looking forward to be working closely together with the Abu Dhabi Securities Exchange and we are confident that this MOU will strengthen the capital markets of Israel and the United Arab Emirates and will provide important opportunities for listed companies in both countries.”


Ittai Ben Zeev, CEO of the Tel Aviv Stock Exchange, said: “The development of the Tel Aviv Stock Exchange’s international exposure is one of our key strategies. This remarkable MOU is an important event and a testament to the opportunity that Israel’s capital markets represent for international investors seeking Israeli technology and high growth companies. I look forward to a long and mutually beneficial relationship between the Tel Aviv Stock Exchange and the Abu Dhabi Securities Exchange.”

About Abu Dhabi Securities Exchange:

Abu Dhabi Securities Exchange (ADX) was established on November 15 of the year 2000 by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance and management. The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On 17th March 2020, ADX was converted from a “Public Entity” to a “Public Joint Stock Company PJSC” pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy.

ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA).

ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE “Towards the next 50” agenda. The national plan charts out the UAE’s strategic development scheme which aims to build a sustainable, diversified and high-value added economy that positively contributes to transition to a new global sustainable development paradigm.

For more information, please contact:

Abdulrahman Saleh ALKhateeb

Manager of Corporate Communication & Digital Marketing
Marketing & Corporate Communication Department
Tel: +971 (2) 612 8774
Mobile: +971 (50) 668 9733
Email:[email protected]


About the Tel Aviv Stock Exchange

The Tel Aviv Stock Exchange (TASE) was established in Israel in September 1953. As of August1, 2019, the Tel Aviv Stock Exchange is a TASE traded public company. The shares trade under ticker symbol “TASE.”

TASE is the only exchange in Israel and plays a central role in the Israeli economy. TASE is the “home court” for Israeli companies seeking to raise capital. In so doing, TASE contributes significantly to Israel’s economic growth and employment.

TASE is also the “home court” for the Israeli investment community and provides investors with a reliable and comprehensive trading platform of a wide range of securities and other financial instruments.

TASE provides markets for the listing and trading of a vast range of securities and derivative instruments. These include shares, corporate bonds, government bonds, Treasury bills, ETFs, convertible securities, single stock options, options and futures on equity indices, and options and futures on foreign currency exchange rates.

As a vertically integrated platform that is a “one-stop-shop” for clients across asset classes, TASE’s wholly-owned subsidiaries include the Tel Aviv Stock Exchange Clearing House, the MAOF Clearing House (derivatives) and the Tel Aviv Stock Exchange Nominee Company, which provide the only clearing and settlement infrastructure in Israel and securities registration services.

For further information visit:www.tase.co.il.

Contact:

Orna Goren

Head of Communication and Public Relations Unit
Tel: +972 768160405
Mobile: +972 523400843
Email: [email protected]

Photo – https://mma.prnewswire.com/media/1387170/TASE_ADX_MoU.jpg

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SOURCE The Tel Aviv Stock Exchange Ltd.