Market Newsdesk

SAN DIEGO, Dec. 09, 2020 (GLOBE NEWSWIRE) — Oncternal Therapeutics, Inc. (Nasdaq: ONCT), a clinical-stage biopharmaceutical company focused on the development of novel oncology therapies, today announced that it has entered into an underwriting agreement with H.C. Wainwright & Co., LLC under which the underwriter has agreed to purchase on a firm commitment basis 8,888,889 shares of common stock of the Company, at a price to the public of $4.50 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about December 14, 2020, subject to satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

The Company also has granted to the underwriter a 30-day option to purchase up to an additional 1,333,333 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to Oncternal, before deducting underwriting discounts and commissions and offering expenses and assuming no exercise of the underwriter’s option to purchase additional common stock, are expected to be approximately $40.0 million. The Company intends to use the net proceeds from this offering for general corporate purposes, including expenses related to the clinical and preclinical development of cirmtuzumab and TK216, preclinical development of its ROR1 CAR-T program, and for working capital.

The shares of common stock are being offered by Oncternal pursuant to a “shelf” registration statement on Form S-3 (File No. 333-222268) previously filed with the Securities and Exchange Commission (the “SEC”) on December 22, 2017 and declared effective by the SEC on January 5, 2018. The offering of the shares of common stock is made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the shares of common stock being offered will be filed with the SEC.  Electronic copies of the preliminary prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Oncternal Therapeutics

Oncternal Therapeutics is a clinical-stage biopharmaceutical company focused on the development of novel oncology therapies for the treatment of cancers with critical unmet medical need. Oncternal focuses drug development on promising yet untapped biological pathways implicated in cancer generation or progression. The clinical pipeline includes cirmtuzumab, an investigational monoclonal antibody designed to inhibit the ROR1 pathway, a type I tyrosine kinase-like orphan receptor, that is being evaluated in a Phase 1/2 clinical trial in combination with ibrutinib for the treatment of patients with mantle cell lymphoma (MCL) and chronic lymphocytic leukemia (CLL) and in an investigator-sponsored, Phase 1b clinical trial in combination with paclitaxel for the treatment of women with HER2-negative metastatic or locally advanced, unresectable breast cancer. The clinical pipeline also includes TK216, an investigational targeted small-molecule inhibitor of the ETS family of oncoproteins, that is being evaluated in a Phase 1 clinical trial for patients with Ewing sarcoma alone and in combination with vincristine chemotherapy. In addition, Oncternal has a program utilizing the cirmtuzumab antibody backbone to develop a CAR-T therapy that targets ROR1, which is currently in preclinical development as a potential treatment for hematologic cancers and solid tumors. More information is available at www.oncternal.com.

Forward-Looking Information

Oncternal cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negatives of these terms or other similar expressions. These statements are based on Oncternal’s current beliefs and expectations. Forward-looking statements include statements regarding: the completion of the offering, the satisfaction of customary closing conditions related to the offering and the intended use of net proceeds from the offering. The inclusion of forward-looking statements should not be regarded as a representation by Oncternal that any of its plans will be achieved. Actual results may differ from those set forth in this release due to the risks and uncertainties inherent in Oncternal’s business, including, without limitation: market and other conditions and the satisfaction of customary closing conditions related to the offering; and other risks described in Oncternal’s prior press releases as well as in public periodic filings with the U.S. Securities & Exchange Commission. All forward-looking statements in this press release are current only as of the date hereof and, except as required by applicable law, Oncternal undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Oncternal Contacts:

Company Contact

Richard Vincent
858-434-1113
[email protected]

Investor
Contact

Corey Davis, Ph.D.         
LifeSci Advisors         
212-915-2577                 
[email protected]

Source: Oncternal Therapeutics, Inc.

 

VANCOUVER, British Columbia, Dec. 09, 2020 (GLOBE NEWSWIRE) — Imperial Metals Corporation (the “Company”) (TSX:III) reports on the exploration program focused on the discovery of additional zones of higher grade mineralization within the Red Chris porphyry corridor.

Eight drill holes totaling 12,652 metres have been completed since September. All drill holes intersected mineralization, except two that were dedicated geotechnical holes. A total of 99,018 metres of drilling from 77 drill holes has been completed since August 2019.

At the East Zone, drilling has confirmed the potential for additional high grade mineralization south of the South Boundary Fault. This is a significant discovery that has the potential to expand the known area of the Red Chris Porphyry system as the South Boundary Fault has historically been assumed to define the southern extent of mineralization. Results from RC646, which extended across the fault, returned 606 metres grading 0.37 g/t gold and 0.33% copper from 488 metres, including 70 metres grading 0.58 g/t gold and 0.51% copper from 710 metres. This interval also includes 22 metres grading 1.0 g/t gold and 0.62% copper from 858 metres which is located to the south of the fault. Drilling to define the extent and continuity of this mineralization on the southern side of the South Boundary Fault is underway.

Drilling continues to confirm the footprint of the western high grade pod in the East Zone, which was first intersected in RC616. A program of 100-metre spaced holes has been designed to confirm the lateral and vertical extent. Results for step-out hole RC645, located 100 metres below RC625, returned 442 metres grading 0.55 g/t gold and 0.45% copper from 714 metres, including 142 metres grading 0.94 g/t gold and 0.72% copper from 882 metres. Results from step-out hole RC658, located 100 metres above RC616, returned 538 metres grading 0.41 g/t gold and 0.31% copper from 558 metres, including 88 metres grading 0.85 g/t gold and 0.57% copper from 632 metres. Drilling to define the extent and continuity of this high grade pod is now complete and awaiting final results. These discrete pods sit within the East Zone.

A second campaign of drilling in the Gully zone was also completed. The results from the Gully Zone indicate that this zone could ultimately support additional mine development. Results from RC641, which tested the continuity in mineralization between historic shallow and more recent deeper drilling, returned 854 metres grading 0.43 g/t gold and 0.30% copper from 66 metres, including 120 metres grading 0.82 g/t gold and 0.87% copper from 612 metres. Results from RC650, located 100 metres above RC603, returned 112 metres grading 0.57 g/t gold and 0.45% copper from 530 metres, including 100 metres grading 0.62 g/t gold and 0.50% copper from 532 metres. Once all results have been received and reviewed, further follow up will be considered for this zone, which is located about 500 metres west of the Main Zone. Drilling is underway in this 500 metre gap between the Main Zone and the Gully Zone to test this largely unexplored area at depth.

Significant Red Chris intercepts include:

Hole ID	From (m)	To (m)	Width (m)	Gold (g/t)	Copper (%)
RC639	570	888	318	0.31	0.27
incl.	804	814	10	2.6	0.57
and	964	1284	320	0.21	0.18
RC640	488	784	296	0.19	0.19
RC641	66	920	854	0.43	0.30
incl.	546	566	20	1.7	0.52
incl.	612	732	120	0.82	0.87
incl.	648	658	10	1.0	1.1
incl.	716	728	12	1.0	1.1
and	990	1242	252	0.29	0.16
RC642	292	622	330	0.24	0.17
and	770	1052	282	0.30	0.16
RC645	512	524	12	1.7	0.18
and	714	1156	442	0.55	0.45
incl.	882	1024	142	0.94	0.72
incl.	960	1014	54	1.3	0.99
RC646	488	1094	606	0.37	0.33
incl.	710	780	70	0.58	0.51
incl.	854	884	30	0.97	0.58
incl.	858	880	22	1.0	0.62
RC647	206	406	200	0.17	0.22
and	440	550	110	0.32	0.36
and	800	1172	372	0.23	0.34
and	1184	1501.8	317.8	0.15	0.17
RC650	112	426	314	0.19	0.15
and	530	642	112	0.57	0.45
incl.	532	632	100	0.62	0.50
RC658	558	1096	538	0.41	0.31
incl.	632	720	88	0.85	0.57
incl.	682	716	34	1.3	0.84
and	1108	1263.7	155.7	0.23	0.26

Jim Miller-Tait, P.Geo., Imperial VP Exploration, is the designated Qualified Person as defined by National Instrument 43-101 for the Red Chris exploration program and has reviewed this news release. Red Chris samples for the 2020 drilling reported were analysed at Bureau Veritas Mineral Laboratories in Vancouver. A full QA/QC program using blanks, standards and duplicates was completed for all diamond drilling samples submitted to the labs. Significant assay intervals reported represent apparent widths. Insufficient geological information is available to confirm the geological model and true width of significant assay intervals.

Cross sections and plan view map are available on imperialmetals.com.

Newcrest Red Chris Mining Limited (“NRC”) is operator of the Red Chris Joint Venture (Newcrest 70%; Imperial 30%).

“Newcrest Mining Limited has implemented and maintained measures to reduce and mitigate the risks of the COVID-19 pandemic to its project workforce and key stakeholders. Potential impacts of the COVID-19 pandemic on the drilling activity at all of Newcrest’s exploration projects are being actively managed. There have been no confirmed cases of COVID-19.”
—        

About Imperial

Imperial is a Vancouver based exploration, mine development and operating company. The Company, through its subsidiaries, owns a 30% interest in the Red Chris mine, and a 100% interest in both the Mount Polley and Huckleberry copper mines in British Columbia. Imperial also holds a 45.3% interest in the Ruddock Creek lead/zinc property.

Company Contacts

Brian Kynoch | President | 604.669.8959
Darb Dhillon | Chief Financial Officer | 604.488.2658
Jim Miller-Tait | Vice President Exploration | 604.488.2676
Sabine Goetz | Shareholder Communications | 604.488.2657 |[email protected]

Cautionary Note Regarding Forward-Looking Statements

Certain information contained in this news release are not statements of historical fact and are “forward-looking” statements. Forward-looking statements relate to future events or future performance and reflect Company management’s expectations or beliefs regarding future events and include, but are not limited to, statements regarding the Company’s expectations and timing with respect to current and planned drilling programs at Red Chris, including plans to define the extent and continuity of the mineralization on the southern side of the South Boundary Fault.

In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “outlook”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company’s current beliefs and assumptions. These factors and assumptions and beliefs and assumptions include, the risk factors detailed from time to time in the Company’s interim and annual financial statements and management’s discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended, many of which are beyond the Company’s ability to control or predict. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and all forward-looking statements in this news release are qualified by these cautionary statements.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Dec. 09, 2020 (GLOBE NEWSWIRE) — RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced that it is issuing a notice of redemption to holders of its $250 million, 3.716% Series R senior unsecured debentures due December 13, 2021 (the “Debentures”). The Debentures will be redeemed in full on January 15, 2021 (the “Redemption Date”) in accordance with their terms.

Pursuant to the terms of the trust indenture governing the Debentures, the Debentures will be redeemed at a redemption price equal to the greater of the “Canada Yield Price” and par, together in each case with accrued and unpaid interest to the Redemption Date. The “Canada Yield Price” calculated in accordance of the terms of the governing trust indenture, is $1,026.98 per $1,000 of principal amount of the Debentures. Accordingly, the Debentures will be redeemed effective on the Redemption Date at a price equal to $1,026.98 per $1,000 of principal amount of the Debentures plus $3.36 per $1,000 of principal amount for accrued and unpaid interest up to but excluding the Redemption Date. The aggregate redemption price payable by RioCan on the Redemption Date is approximately $256,745,000 plus accrued interest of $839,918.

About RioCan

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at September 30, 2020, our portfolio is comprised of 221 properties with an aggregate net leasable area of approximately 38.4 million square feet (at RioCan’s interest) including office, residential rental and 16 development properties. To learn more about us, please visit www.riocan.com. 

For further information please contact:

Qi Tang
Senior Vice President & Chief Financial Officer
(416) 866-3033
[email protected]

Cheyenne Wyoming, Dec. 09, 2020 (GLOBE NEWSWIRE) — Blue Federal Credit Union is excited to announce the opening of its 18^th branch as well as its first event at the Blue Diamond Center. The event, specifically for ‘Prime Time’ Blue Members will take place Thursday, December 10^th and the branch will open on Tuesday, December 15^th.

“With the opening of our 6th location in Cheyenne, Blue is truly the most convenient financial institution in the city,” says Michele Bolkovatz, VP of Public Relations at Blue Federal Credit Union. “We are honored to serve all of Cheyenne and the surrounding area at our new state-of-the-art branch in the heart of our home city, Cheyenne.”

Along with the new branch opening, Blue Federal Credit Union will be hosting an event for Prime-Time members, who are over the age of 50. Members registered to visit the new Blue Diamond Center will be able to pick up a holiday meal and receive a special Prime-Time gift. All this will be done from the comfort of the member’s car while driving through a designated path.

“In a year that has seen many of us staying safely apart, we wanted to continue our longstanding tradition and show our beloved Prime Timers that we are thinking about them. With that in mind, we have been working on an event that is safe, fun, and interactive”, says Marielle Croudo, Events Director with Blue Federal Credit Union. “We miss them and want to celebrate the holiday season together!”

Due to overwhelming demand, the Prime Time event is at capacity. Remember, the Blue Diamond Center branch will open to the public on December 15^th. For more information and updates about the opening of the World Headquarters building, please bluefcu.com.

Attachment

• New Location and Prime Time Release

Michele Bolkovatz
Blue Federal Credit Union
3079961130
[email protected]

CALGARY, Alberta, Dec. 09, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) announces it has received approval from its syndicate of lenders to extend our credit facilities (“Facilities”). The Facilities were renewed at $225 million and extend the revolving period and maturity date to May 31, 2021 and May 31, 2022, respectively. In this renewal Cardinal has received reserve based lending commitments from two new lenders, Export and Development Canada and Canadian Western Bank, while one previous lender, National Bank Financial, has been asked to exit.

The $40.5 million lending commitment from EDC, based on its Business Credit Availability Program (the “BCAP”), has a tenure of up to two years and is renewable at maturity at EDC’s discretion. Cardinal’s syndicate of lenders has reviewed the Facilities and approved amendments to incorporate the EDC funding commitment and documentation supporting the lending commitment from EDC has been executed. Both new lenders join Cardinal’s syndicate of lenders as highly aligned capital partners. The new commitments allowed for the exit of one of Cardinal’s previous syndicate members and the reduction of commitments from two existing lenders while maintaining the $225 million credit facility borrowing base under the Facilities. The completion of the bank financing was a condition of the recently announced private offering of second lien notes and common shares. The combination of both of these transactions will provide Cardinal with strong capital providers and ample liquidity.

Forward Looking Information

Certain statements contained in this press release constitute forward-looking information including, without limitation,
the expectation that the proposed private placement and renewed credit facility
will provide Cardinal with strong capital providers and ample liquidity
. The use of any of the words “anticipate”, “continue”, “expect”, “intend”, “may”, “will”, “project”, “should”, “believe” and “confident” and similar expressions are intended to identify forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results or events to differ materially from those anticipated in such forward-looking information.

Cardinal believes that the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Cardinal undertakes no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

About Cardinal Energy Ltd.

One of Cardinal’s goals is to continually improve our Environmental, Safety and Governance mandate and operate our assets in a responsible and environmentally sensitive manner.  As part of this mandate, Cardinal injects and conserves more carbon than it directly emits making us one of the few Canadian energy companies to have a negative carbon footprint.

Cardinal is a Canadian oil focused company with operations focused on low decline light, medium and heavy quality oil in Western Canada.

For further information:

M. Scott Ratushny, CEO or Shawn Van Spankeren, CFO or Laurence Broos, VP Finance
Email: [email protected] 
Phone: (403) 234-8681
Website: www.cardinalenergy.ca 

NEW YORK, Dec. 09, 2020 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Raytheon Technologies Corporation (NYSE: RTX), Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT), Neovasc, Inc. (NASDAQ: NVCN), and Interface, Inc. (NASDAQ: TILE). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Raytheon Technologies Corporation (NYSE: RTX)

Class Period: February 10, 2016 to October 27, 2020

Lead Plaintiff Deadline: December 29, 2020

On October 27, 2020, after market hours, Raytheon filed its quarterly report on Form 10-Q with the SEC for the quarter ended September 30, 2020 (the “3Q20 Report”). The 3Q20 Report announced the DOJ Investigation, stating in pertinent part: “On October 8, 2020, the Company received a criminal subpoena from the DOJ seeking information and documents in connection with an investigation relating to financial accounting, internal controls over financial reporting, and cost reporting regarding Raytheon Company’s Missiles & Defense business since 2009.”

On this news, the price of Raytheon shares fell $4.19 per share, or 7%, to close at $52.34 per share on October 28, 2020, on unusually heavy trading volume, damaging investors.

The complaint, filed on October 30, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Raytheon had inadequate disclosure controls and procedures and internal control over financial reporting; (2) Raytheon had faulty financial accounting; (3) as a result, Raytheon misreported its costs regarding Raytheon’s Missiles & Defense business since 2009; (4) as a result of the foregoing, Raytheon was at risk of increased scrutiny from the government; (5) as a result of the foregoing, Raytheon would face a criminal investigation by the U.S. Department of Justice (“DOJ”); and (6) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

For more information on the Raytheon class action go to: https://bespc.com/cases/RTX

Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT)

Class Period: September 28, 2019 to October 7, 2020

Lead Plaintiff Deadline: January 4, 2021

Intercept’s lead product candidate is Ocaliva (obeticholic acid (“OCA”)), a farnesoid X receptor agonist used for the treatment of primary biliary cholangitis (“PBC”), a rare and chronic liver disease, in combination with ursodeoxycholic acid in adults. The Company is also developing OCA for various other indications, including nonalcoholic steatohepatitis (“NASH”).

On May 22, 2020, Intercept reported that the FDA “has notified Intercept that its tentatively scheduled June 9, 2020 advisory committee meeting (AdCom) relating to the company’s [NDA] for [OCA] for the treatment of liver fibrosis due to [NASH] has been postponed” to “accommodate the review of additional data requested by the FDA that the company intends to submit within the next week.”

On this news, Intercept’s stock price fell $11.18 per share, or 12.19%, to close at $80.51 per share on May 22, 2020.

On June 29, 2020, Intercept issued a press release announcing that the FDA had issued a Complete Response Letter (“CRL”) rejecting the Company’s NDA for Ocaliva for the treatment of liver fibrosis due to NASH.

On this news, Intercept’s stock price fell $30.79 per share, or 39.73%, to close at $46.70 per share on June 29, 2020.

Then, on October 8, 2020, news outlets reported that Intercept was “facing an investigation from the [FDA] over the potential risk of liver injury in patients taking Ocaliva, [Intercept’s] treatment for primary biliary cholangitis, a rare, chronic liver disease.”

On this news, Intercept’s stock price fell $3.30 per share, or 8.05%, to close at $37.69 per share on October 8, 2020.

The complaint, filed on November 5, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically defendants made false and/or misleading statements and/or failed to disclose that: (i) Defendants downplayed the true scope and severity of safety concerns associated with Ocaliva’s use in treating PBC; (ii) the foregoing increased the likelihood of an FDA investigation into Ocaliva’s development, thereby jeopardizing Ocaliva’s continued marketability and the sustainability of its sales; (iii) any purported benefits associated with OCA’s efficacy in treating NASH were outweighed by the risks of its use; (iv) as a result, the FDA was unlikely to approve the Company’s NDA for OCA in treating patients with liver fibrosis due to NASH; and (v) as a result of all the foregoing, the Company’s public statements were materially false and misleading at all relevant times.

For more information on the Intercept class action go to: https://bespc.com/cases/ICPT-2

Neovasc, Inc. (NASDAQ: NVCN)

Class Period: October 10, 2018 to October 27, 2020

Lead Plaintiff Deadline: January 4, 2021

Neovasc is a specialty medical device company that develops, manufactures and markets products for cardiovascular diseases, including the Tiara technology and the Reducer. The Company’s Reducer is a medical device that treats refractory angina by altering blood flow in the heart’s circulatory system.

On October 28, 2020, before the market opened, the Company announced that an FDA advisory panel voted overwhelmingly against the safety and effectiveness of the Reducer. The panel noted concerns with the Company’s clinical data, including “that the lack of blinding assessment made the primary endpoint difficult to interpret.” As a result, the panel reached a consensus “that additional premarket randomized clinical data was necessary.”

On this news, the Company’s share price fell $0.77, or 42%, to close at $1.06 per share on October 28, 2020.

The complaint, filed on November 5, 2020, alleges that throughout the Class Period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the results of COSIRA, Neovasc’s clinical study for the Reducer, contained imbalances in missing information present in the control group versus the treatment group, including significant missing information for secondary endpoints but none for the primary endpoint; (2) that the imbalance in missing information indicated that control subjects were aware of their treatment assignment (not blinded) and less inclined to participate in additional data collection; (3) that blinding is critical when studying a placebo-responsive condition such as angina; (4) that the lack of blinding assessment made the primary endpoint difficult to interpret; (5) that, as a result of the foregoing, the FDA was reasonably likely to require additional premarket clinical data; (6) that, as a result, the Company’s PMA for Reducer was unlikely to be approved without additional clinical data; and (7) that, 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.

For more information on the Neovasc class action go to: https://bespc.com/cases/NVCN

Interface, Inc. (NASDAQ: TILE)

Class Period: March 2, 2018 to September 28, 2020

Lead Plaintiff Deadline: January 11, 2021

On April 24, 2019, Defendants filed a current report on Form 8-K with the SEC, disclosing, inter alia, that Interface “received a letter in November 2017 from the [SEC] requesting that the Company voluntarily provide information and documents in connection with an investigation into the Company’s historical quarterly [EPS] calculations and rounding practices during the period 2014-2017”; that “[t]he Company subsequently received subpoenas from the SEC in February 2018, July 2018 and April 2019 requesting additional documents and information”; and that “[i]n the fourth quarter of 2018, the Company conducted at the SEC’s request an internal investigation into these and other related issues for seven quarters in 2015, 2016 and 2017.”

On this news, Interface’s stock price fell $1.43 per share, or 8.37%, to close at $15.66 per share on April 25, 2019.

Then, on September 28, 2020, the SEC announced the conclusion of its investigation into Interface’s historical quarterly EPS calculations and rounding practices. Interface agreed to pay a $5 million fine to resolve the matter and was ordered to cease and desist from violating the federal securities laws. In the SEC’s enforcement order issued that same day, the SEC also disclosed how, inter alia, “Interface employees caused Interface to produce documents in response to Commission investigative requests that were suggestive of contemporaneous support for journal entries that, in truth, did not exist at the time the entries were recorded,” and had modified certain documents after the SEC’s investigation began.

On this news, Interface’s stock price fell $0.20 per share, or 3.13%, over the following two trading sessions to close at $6.18 per share on September 29, 2020.

The complaint, filed on November 12, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Interface had inadequate disclosure controls and procedures and internal control over financial reporting; (ii) consequently, Interface, inter alia, reported artificially inflated income and earnings per share (“EPS”) in 2015 and 2016; (iii) Interface and certain of its employees were under investigation by the Securities and Exchange Commission (“SEC”) with respect to the foregoing issues since at least as early as November 2017, had impeded the SEC’s investigation, and downplayed the true scope of the Company’s wrongdoing and liability with respect to the SEC investigation; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

For more information on the Interface class action go to: https://bespc.com/cases/TILE

About
Bragar
Eagel
& Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com

• Capital plan of approximately $35 million on a gross basis; $25 to $30 million on a net basis.
• Continued organic growth of Modular Space Solutions (“MSS”) with approximately $25 to $30 million of gross capital planned for this segment
• Approximately $4.5 million for the Workforce Solutions (“WFS”) segment for project specific requirements, of which $2.5 is for growth in Australia
• Roughly $1.5 million related to software development for LodgeLink

CALGARY, Alberta, Dec. 09, 2020 (GLOBE NEWSWIRE) — Black Diamond Group Limited (“Black Diamond”, the “Company” or “we”), (TSX:BDI), a leading provider of space rental and workforce accommodation solutions, today announced that its Board of Directors has approved a 2021 gross capital budget of approximately $35 million. In the normal course of business, the Company will regularly buy and sell modular buildings into and out of our rental fleet. Proceeds from these sales have typically been in the range of $5 to $10 million per year and the Company expects this trend to generally hold steady in 2021. As such, Black Diamond’s net capital investment in 2021 is expected to be between $25 and $30 million on a net basis.

Most of the 2021 capital budget will be allocated towards continued growth of the MSS segment throughout North America, of which approximately $25 million will be earmarked specifically for growth and split roughly 35% and 65% in Canada and the U.S. respectively. This budget includes anticipated growth capital for the newly acquired Vanguard Modular rental fleet.

Among the $4.5 million being invested in the WFS business unit, roughly $2.5 million will be allocated towards the robust Australian division for education, space rentals, and workforce applications. The remaining WFS budget of $2.0 million will primarily be related to refurbishment of large format camp units on a project specific basis.

LodgeLink, the company’s digital platform for essential crew travel, will see approximately $1.5 million of capital investment related to software development to support the continued growth of this technology driven business.

The remaining capital will be for maintenance across the platform, which tends to average roughly 5% of rental revenue on an annual basis, as well as general corporate purposes (including real estate and leasehold improvements).

Black Diamond expects all capital investments to be expended in a generally non-speculative, project-specific basis. As of December 9^th, the Company currently has capex commitments of approximately $3.5 million for Q1 of 2021. Other than maintenance and committed capex, the balance of the approved amount is discretionary and will be monitored and adjusted as business conditions require.

The current 2021 capital budget does not include any potential investment related to the Goldboro LNG Facility. Black Diamond, in partnership with Nova Scotia’s Mi’kmaq Communities, (“Partnership”) had previously announced a letter of award on October 1, 2020, valued at approximately $720 million. The Partnership has been granted the exclusive right to negotiate a final contract to construct and manage a lodge and associated amenities during the four-year construction phase of the Goldboro LNG Facility. Specific requirements for the project continue to be defined, and the project proponent expects a final investment decision by June 2021.

The Company believes that operating cash flows in 2021 will fund the current capital budget, meet all other cash costs (such as interest payments and lease expenses), and reduce total debt levels which have increased following the Company’s most recent acquisition. Black Diamond believes this combination of growth capex and debt reduction demonstrates the strong free cash flow generating capabilities of the Company’s growing rental platform and believes this will continue to drive shareholder value while de-risking the overall platform.

About Black Diamond Group

Black Diamond is a specialty rentals and industrial services Company with two operating business units – Modular Space Solutions (MSS) and Workforce Solutions (WFS). We operate in Canada, the United States, and Australia. MSS through its principal brands, BOXX Modular, Britco, MPA, and Vanguard, owns a large rental fleet of modular buildings of various types and sizes. Its network of local branches rent, sell, service, and provide ancillary products and services to a diverse customer base in the construction, industrial, education, financial, and government sectors. WFS through its principal brands, Black Diamond Camps and Black Diamond Energy Services, owns a large rental fleet of modular accommodation assets of all types and sizes and a fleet of liquid and solid containment assets. Its regional operating terminals rent, sell, service, and provide ancillary products and services including turn-key operated camps to a wide array of customers in the resource, infrastructure, construction, disaster recovery, and education sectors. The WFS business unit also includes the Company’s wholly owned subsidiary, LodgeLink, which operates a digital marketplace for business-to-business crew accommodation, travel, and logistics in North America.

Learn more at www.blackdiamondgroup.com.

Investor and Media Inquiries

Jason Zhang at 403-206-4739 or [email protected]

To sign up for news alerts please go to https://www.blackdiamondgroup.com/investor-centre/news-alerts-subscription/.

Cautionary Note Regarding Forward-Looking Statements
Certain information set forth in this news release contains “forward looking statements” as defined under applicable Canadian securities laws. Forward looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward looking statements in this news release include, but are not limited to, statements with respect to the Company’s capital spending plan for 2021, expected debt reduction, expected used-fleet sales, expected cash generation, the continued growth of the Company’s MSS segment and potential projects that involve the Company and the timing of such projects. Although Black Diamond believes that the expectations reflected in the forward-looking statements contained in this news release, and the assumptions on which such forward-looking statements are made are reasonable, there can be no assurances that such expectations or assumptions will prove to be correct. Readers are cautioned that assumptions used in the preparation of such statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of Black Diamond. These risks include, but are not limited to: the impact of general economic conditions, industry conditions, fluctuation of commodity prices, the impact of the COVID-19 pandemic, the Company’s ability to attract new customers, failure of counterparties to perform on contracts, industry competition, availability of qualified personnel and management, timely and cost effective access to sufficient capital from internal and external sources, political conditions, dependence on suppliers and stock market volatility. The risks outlined above should not be construed as exhaustive. Additional information on these and other factors that could affect Black Diamond’s operations and financial results are included in Black Diamond’s annual information form for the year ended December 31, 2019 and other reports on file with the Canadian Securities Regulatory Authorities which can be accessed on SEDAR. Readers are cautioned not to place undue reliance on these forward-looking statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Black Diamond does not undertake any obligation to update or revise any of the forward-looking statements, except as may be required by applicable securities laws.

SAN FRANCISCO, Dec. 09, 2020 (GLOBE NEWSWIRE) — Hagens Berman urges Penumbra, Inc. (NYSE: PEN) investors to submit their losses now.   The firm is investigating possible securities fraud and encourages investors with losses and persons who may be able to assist in the investigation to contact the firm now.

Visit
:
www.hbsslaw.com/investor-fraud/PEN

Contact An Attorney Now
:
[email protected]

                                             844-916–0895

Penumbra, Inc.
(
PEN
)
Investigation:

The investigation centers on whether Penumbra and senior executives may have misled investors about, among other things, the company’s statements about its flagship products for treating ischemic stroke.

Recently, on Dec. 8, 2020, Quintessential Capital Management published a scathing report accusing Penumbra of having engaged in a multi-year scheme to fraudulently produce a substantial portion of scientific literature using a fake character to support its product marketing to healthcare providers around the United States and elsewhere. According to the Quintessential report, “[t]his fraudulent character appears to have been fabricated by management in a reckless attempt to hide its involvement with critical research produced with significant undisclosed conflicts of interest.”

This news drove the price of Penumbra shares sharply lower.

“We’re focused on, among other things, investor losses and whether in fact Penumbra misled investors by using a fictional author to support its business activities,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are a Penumbra investor or have information that may assist our investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Penumbra should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844–916–0895 or email [email protected].

About Hagens Berman

Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation.   More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact
:

Reed Kathrein, 844-916-0895