Market Newsdesk

HOUSTON, Dec. 10, 2020 (GLOBE NEWSWIRE) — Altus Midstream Company (Nasdaq: ALTM) today announced that its board of directors has declared a cash dividend on the company’s Class A common shares.

The dividend on Class A common shares is payable March 31, 2021, to stockholders of record on Feb. 26, 2021, at a rate of $1.50 per share, which represents the first dividend on common shares since Altus Midstream was formed in 2018.

“Given our healthy balance sheet and plan to generate free cash flow in 2021 and beyond, we believe the best path to deliver shareholder value is to return cash through a dividend,” said Clay Bretches, Altus Midstream CEO and president. “We expect earnings from our ownership in joint venture pipelines and our gathering and processing business, along with our relentless focus on cost reduction, will position us well for the foreseeable future. Our 2021 outlook is now trending above the midpoint of our gathered volumes, adjusted EBITDA and DCF guidance ranges provided on November 4, further solidifying our decision to pay a dividend.”

The dividend on the Class A common shares is being funded by a distribution of approximately $24.4 million by Altus Midstream LP on its common units. Apache Corporation (Nasdaq: APA) has an economic interest in the partnership of approximately 79% through ownership of its common units and ALTM Class A common shares.

A
b
out Altus Midstream Company

Altus Midstream Company is a pure-play, Permian-to-Gulf Coast midstream C-corporation. Through its consolidated subsidiaries, Altus owns substantially all the gas gathering, processing and transmission assets servicing production from Apache Corporation in the Alpine High play in the Delaware Basin and owns equity interests in four Permian-to-Gulf Coast pipelines. Altus posts announcements, operational updates, investor information and press releases on its website, www.altusmidstream.com.

Non-GAAP financial measures

Certain information may be provided in this release that includes financial measurements that are not required by, or presented in accordance with, generally accepted accounting principles (GAAP). These non-GAAP measures, including adjusted EBITDA and distributable cash flow (DCF), should not be considered as alternatives to GAAP measures and may be calculated differently from, and therefore may not be comparable to, similarly titled measures used at other companies. For definitions and a reconciliation to the most directly comparable GAAP financial measures, please refer to Altus Midstream’s November 2020 investor presentation at www.altusmidstream.com.

Forward-looking statements

This news release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “seeks,” “possible,” “potential,” “predict,” “project,” “prospects,” “guidance,” “outlook,” “should,” “would,” “will,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These statements include, but are not limited to, statements about future plans, expectations, and objectives for Altus Midstream’s and Apache’s operations, including statements about our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans, and objectives of management. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and in our Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission for a discussion of risk factors that affect our business. Any forward-looking statement made by us in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law.

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P
resentations
highlight efficacy of TRV045 in animal models of neuropathic pain and epilepsy

TRV045
selectively
targets the S1P

₁

receptor
without associated
lymphopenia

IND filing on track for 1H 2021

—

CHESTERBROOK, Pa., Dec. 10, 2020 (GLOBE NEWSWIRE) — Trevena, Inc. (Nasdaq: TRVN), a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with central nervous system (CNS) disorders, today announced two presentations at the 59^th Annual Meeting for the American College of Neuropsychopharmacology (ACNP). The conference was held virtually from December 6^th to 9^th, 2020.

The presentations included two posters, both of which discussed the potential utility of TRV045 to treat a variety of CNS disorders, including epilepsy, chemotherapy-induced peripheral neuropathy (CIPN), and diabetic peripheral neuropathy (DPN). The Company is currently collaborating with the National Institutes of Health (NIH) to evaluate TRV045 in their screening programs for epilepsy and non-addictive treatment of pain.

“These are compelling nonclinical findings for TRV045 and support its potential application in the treatment of epilepsy and neuropathic pain. We look forward to continuing to investigate the potential of TRV045 as a treatment for these debilitating disorders,” said Mark Demitrack, M.D., Senior Vice President and Chief Medical Officer of Trevena, Inc.

Poster Details

1. “TRV045, a novel, selective S1PR₁ modulator, is efficacious in reversing neuropathic pain without affecting lymphocyte trafficking” (Poster #T125)
   • TRV045 demonstrated efficacy comparable to fingolimod, an approved S1P receptor modulator, in a mouse CIPN model. Unlike fingolimod, TRV045 did not cause lymphopenia at therapeutic doses.
   • TRV045 demonstrated efficacy comparable to gabapentin, an approved anticonvulsant medication sometimes used to treat diabetic neuropathy, in a rat diabetic peripheral neuropathy model. The Company believes this is the first time that modulation of the S1P₁ receptor has been shown to have potential therapeutic benefit in reversing diabetic neuropathic pain.
2. “TRV045, a novel, selective S1P1 receptor modulator that is not an immunosuppressant, is efficacious in rodent models of epilepsy” (Poster #W105)
   • TRV045 was evaluated as a potential anti-epileptic treatment in four well-established rodent seizure models, as part of the NIH’s Epilepsy Therapy Screening Program (ETSP).
   • TRV045 demonstrated a dose-dependent seizure prevention response in three of the models.
   • TRV045 does not cause lymphopenia at therapeutic doses, suggesting it may offer unique therapeutic benefits in a variety of CNS indications, including epilepsy, where immunosuppression is not desirable. Notably, fingolimod has also shown efficacy in rodent epilepsy models, but with substantial immunosuppression.

All posters can be found at https://www.trevena.com/publications.

About TRV045

Trevena is currently developing a novel sphingosine-1-phosphate (S1P) receptor modulator, TRV045, as a non-opioid treatment for various CNS disorders. S1P receptors are located throughout the body, including the central nervous system, where they are believed to play a role in modulating neurotransmission and membrane excitability. TRV045 is a preclinical, investigational drug candidate that engages the S1P receptor in a more selective manner that does not produce immunosuppression or alter lymphocyte trafficking. In a preclinical model of neuropathic pain, TRV045 demonstrated activity with no lymphopenia at therapeutic doses. The National Institutes of Health are currently evaluating TRV045 as a potential treatment for epilepsy and as a potential non-addictive treatment for acute / chronic pain.

About Trevena

Trevena, Inc. is a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with CNS disorders. The Company has one approved product in the United States, OLINVYK™ (oliceridine) injection, indicated in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. The Company also has four novel and differentiated investigational drug candidates: TRV250 for the acute treatment of migraine, TRV734 for maintenance treatment of opioid use disorder, and TRV027 for acute lung injury / abnormal blood clotting in COVID-19 patients. The Company has also identified TRV045, a novel S1P receptor modulator that may offer a new, non-opioid approach to treating a variety of CNS disorders.

For more information, please visit www.Trevena.com 

Forward-Looking Statements

Any statements in this press release about future expectations, plans and prospects for the Company, including statements about the Company’s strategy, future operations, clinical development and trials of its therapeutic candidates, plans for potential future product candidates, commercialization of approved drug products and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “objective,” “predict,” “project,” “suggest,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “ongoing,” or the negative of these terms or similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the commercialization of any approved drug product, the status, timing, costs, results and interpretation of the Company’s clinical trials or any future trials of any of the Company’s investigational drug candidates; the uncertainties inherent in conducting clinical trials; expectations for regulatory interactions, submissions and approvals, including the Company’s assessment of the discussions with the FDA or other regulatory agencies about any and all of its programs; uncertainties related to the commercialization of OLINVYK; available funding; uncertainties related to the Company’s intellectual property; uncertainties related to the ongoing COVID-19 pandemic, other matters that could affect the availability or commercial potential of the Company’s therapeutic candidates; and other factors discussed in the Risk Factors set forth in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC) and in other filings the Company makes with the SEC from time to time. In addition, the forward-looking statements included in this press release represent the Company’s views only as of the date hereof. The Company anticipates that subsequent events and developments may cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, except as may be required by law.

This press release is not sanctioned by the ACNP.

For more information, please contact:

Investor Contact:

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

Company Contact:

Bob Yoder
SVP and Chief Commercial Officer
Trevena, Inc.
(610) 354-8840

VANCOUVER, British Columbia, Dec. 10, 2020 (GLOBE NEWSWIRE) — ​Planet Ventures Inc. (​TSX-V: PXI; OTC: PNXPF; FSE: P6U1​) (“​Planet” ​or the “​Company​”) is pleased with the Canadian Federal Government’s recent introduction of Bill C-13, which seeks to legalize single-event wagering. 

“This is an exciting development that Planet Ventures deeply supports,” says Zula Kropivnitski, Chief Financial Officer of Planet Ventures. “Canada’s Minister of Justice and its Attorney General’s decision to introduce this important legislation in aid of single-event sports betting in their jurisdiction should greatly affect the gaming sector in Canada in a very positive way. This is a great decision for Canadian businesses, and it will go a long way in boosting the entertainment industry in this Country.”

As an investment issuer currently focused on eSports and eGaming, the Company has been exploring numerous possible investments in developing video-gaming platforms that would allow wagering on the outcome of a single 1 versus 1 video-game match. If approved, this legislation would allow Planet to launch such a platform in multiple markets including Canada and the United Kingdom, as Planet currently has access to a much-coveted Tier 1 UK Gaming License through its fully owned subsidiary of First XI.

The ban on single-event wagering is estimated by the Canadian Gaming Association to cost the Canadian gaming industry $14 billion annually. According to theScore.com*, the market potential for online gaming in Canada of between US$3.8 billion and US$5.4 billion in annual gross gaming revenue, based on historical data extrapolated from legal online gaming markets in the U.S. and globally.

*

https://www.businesswire.com/news/home/20201126005738/en/Statement-from-theScore-on-Introduction-of-Federal-Government-Bill-to-Legalize-Single-Event-Wagering-in-Canada

A
bou
t
Planet Ventures Inc.

Planet is an investment issuer listed on the TSXV, that is focused on investing in disruptive companies and industries that have high growth potential. Planet’s unique portfolio driven investment policies provide its investors with access to emerging and high-growth opportunities while shielding them from any formidable downside.

For more information, please visit Planet’s website: https://planetventuresinc.com/

ON BEHALF OF THE BOARD

“

Zula


Kropivnitski

”

Zula Kropivnitski

INVESTOR RELATIONS CONTACT

PLANET VENTURES INC.
Tel: (604) 681-0084
Email: [email protected]

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