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REPEAT – Clean Power Capital Corp. Announces Plans to List on NASDAQ

VANCOUVER, British Columbia, Dec. 03, 2020 (GLOBE NEWSWIRE) — Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE“). The Company is pleased to announce that the Board of the Company has formed a strategic committee (the “Strategic Committee”) to review and develop a strategy to enhance its investor profile by launching a new capital markets strategy focused on the United States. As part of the strategy, the Strategic Committee will consider an application to list its common shares on the NASDAQ Capital Market (“NASDAQ”).

The acceptance of the application to list the Company’s common shares on NASDAQ will be subject to a number of regulatory and listing requirements, including without limitation: retaining the required number of market makers for the Company’s common shares; engaging a sponsor for the Company’s common shares; the filing of the applicable registration statement with the U.S. Securities and Exchange Commission to become a reporting company under the U.S. Securities Act; and the review of the Company and acceptance for listing by NASDAQ. The Company will also seek a financial advisor to assess the viability of a potential up-listing to NASDAQ. There can be no assurance that NASDAQ acceptance will be granted should the Company submit its listing application.

Management of MOVE believes up-listing to NASDAQ will:

  • provide additional opportunities to attract institutional and retail investors, allowing the Company to broaden its investor base in the United States and internationally;
  • increase the visibility of the Company, its growth strategy, accomplishments and results to date;
  • increase liquidity of the Company’s common shares; and
  • raise the Company’s overall profile and ultimately enhance shareholder value.

Joel Dumaresq, CEO of the MOVE stated, “We continue to see strong interest from investors both in the U.S. and internationally. An up-listing to the NASDAQ has been on our radar as one of the many strategies to execute as part of our capital markets strategy and in accordance with the Company’s Investment Policy with the paramount goal of the Company to generate maximum returns from its investments. Given that a NASDAQ listing is a natural next step for the Company.”

The listing of the Company’s common shares on the NASDAQ remains subject to the approval of the NASDAQ and the satisfaction of all applicable listing and regulatory requirements. The Company will continue to maintain the listing of its common shares on the Canadian Securities Exchange under the symbol “MOVE”. The Company will provide updates on its progress as it moves toward this goal.

There is currently no timeline for completion of the review of our capital markets strategy, and there is no assurance that these efforts will be successful or that the review process will result in the listing of the Company’s common shares on NASDAQ.

About PowerTap

The Company completed an investment in PowerTap on October 27, 2020 (see the Company’s news release on October 28, 2020). PowerTap is leading the charge to build out cost-effective hydrogen fueling infrastructure through its environmentally friendly intellectual property, product design for the modularized and lowest tier production cost of hydrogen, and launch plan.   PowerTap technology-based hydrogen fueling stations are located in private enterprises and public stations (near LAX airport) in California, Texas, Massachusetts, and Maryland. Additional information about PowerTap may be found at its website at http://www.powertapfuels.com

ABOUT
CLEAN POWER
CAPITAL CORP.

Clean Power is an investment company, that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in our investments. A copy of Clean Power’s amended and restated investment policy may be found under the Company’s profile at www.sedar.com.

ON BEHALF OF THE
CLEAN POWER
CAPITAL CORP.
BOARD OF DIRECTORS

“Joel Dumaresq”

Joel Dumaresq, CEO
+1 (604) 687-2038
i[email protected]

Learn more about Clean Power by visiting our website at: https://cleanpower.capital/

Notice Regarding Forward Looking Information:

This press release contains “forward-looking information” and “forward-looking statements” (together, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking information in this press release includes statements relating to the Company’s consideration of applying to list its common shares on NASDAQ, the Company’s ability to increase its liquidity and capital markets exposure if the NASDAQ listing application is submitted and is successful, the Company receiving all required approvals in respect of a potential NASDAQ listing application and the commencement of trading of the Company’s Common Shares on the NASDAQ should a listing application be submitted and accepted, the planned registration of the Company’s common shares with the U.S. Securities and Exchange Commission (the “SEC”), the timing of the SEC’s review of the proposed application and any delays, including but not limited to delays related to COVID-19, and the Company’s strategic plans.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.



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Ceylon Announces approval for OTCQB Under Symbol “CYLYF”

VANCOUVER, British Columbia, Dec. 03, 2020 (GLOBE NEWSWIRE) — Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”)(TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) announces that its common shares have been approved for trading on the OTCQB Venture Market effective December 3, 2020. The Company’s U.S. listing will trade under the symbol “CYLYF” while the Company’s primary Canadian listing will continue to trade on the TSX Venture Exchange under “CYL”.

The Company’s common shares are eligible for electronic clearing and settlement through the Depository Trust Company (“DTC”). DTC eligibility allows for cost-effective clearing and secure settlement, in turn simplifying and accelerating the settlement process for investors.

Bharat Parashar, Chief Executive Officer of Ceylon said: “We are very pleased to have our US trading status upgraded to OTCQB. This will provide the Company with greater market exposure, increase our visibility within the global investment community, further broaden our shareholder base and increase the volume of our tradable securities.”


About Ceylon Graphite Corp.

Ceylon Graphite is a public company listed on the TSX Venture Exchange, that is in the business of mining for graphite, plus the exploration for and development of graphite mines in Sri Lanka. Graphite mined in Sri Lanka is known to be some of the purest in the world and has been confirmed to be suitable to be easily upgradable for a range of applications including the high-growth electric vehicle and battery storage markets. The Government of Sri Lanka has granted the Company’s wholly own subsidiary Sarcon Development (Pvt) Ltd. an IML Category A license for its K1 site and exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka.

Further information regarding the Company is available at www.ceylongraphite.com

Bharat Parashar, Chairman and & Chief Executive Officer
[email protected]
Corporate Communications
+1(202)352-6022

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

FORWARD LOOKING STATEMENTS:

This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes statements about Ceylon Graphite’s grids, Ceylon Graphite’s plans to undertake additional drilling and to develop a mine plan, and to commence establishing mining operations. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to Ceylon Graphite, including the assumption that, there will be no material adverse change in metal prices, all necessary consents, licenses, permits and approvals will be obtained, including various Local Government Licenses and the market. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, an inability to reach a final acquisition agreement, inaccurate results from the drilling exercises, a failure to obtain or delays in obtaining the required regulatory licenses, permits, approvals and consents, an inability to access financing as needed, a general economic downturn, a volatile stock price, labour strikes, political unrest, changes in the mining regulatory regime governing Ceylon Graphite, a failure to comply with environmental regulations and a weakening of market and industry reliance on high quality graphite. Ceylon Graphite cautions the reader that the above list of risk factors is not exhaustive.

These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, Ceylon Graphite does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).



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FourKites Sees Dramatic Growth in Multimodal and International Tracking as Supply Chain Leaders Expand Use of Real-Time Visibility Technology

The pandemic and other supply chain pressures are accelerating the need to track and manage freight from origin to final destination

CHICAGO, Dec. 03, 2020 (GLOBE NEWSWIRE) — FourKites®, the #1 real-time supply chain visibility platform, today announced dramatic growth in the use of its technology to track shipments across multiple modes and countries as supply chain leaders increasingly turn to real-time visibility and predictive ETAs for end-to-end freight tracking and management. Specifically, international load volumes tracked via FourKites grew nearly 200% in 2020 compared to the same time period in 2019; ocean load volume grew 149%; and rail and intermodal grew 49%. FourKites experienced 140% growth in ocean customers and 138% growth in rail and intermodal customers over the same time period.

COVID-19, the economic downturn, capacity shortages and trade tensions have roiled supply chains in myriad ways, accelerating the move to visibility solutions that can help logistics professionals better manage their operations and ensure the timely delivery of shipments. Existing FourKites customers are rapidly expanding beyond over-the-road (OTR) tracking, while new customers are jumping into multimodal tracking from the start in order to take advantage of FourKites’ extensive international coverage and multimodal capabilities.

Eastman, one of the world’s largest producers of specialty chemicals and additives, is deploying the FourKites’ platform globally for all loads and all modes, linking over-the-road and rail shipments in South America, Europe and North America to ocean freight for true end-to-end global visibility. “FourKites impressed us with their willingness to develop and adapt to meet Eastman product quality expectations, and they have a well-articulated global visibility strategy across regions and modes,” said Tom Morton, VP, Global Supply Chain at Eastman. “Their flexibility and willingness to collaborate made us feel confident in them as a key partner as Eastman drives to optimize every layer of the end-to-end supply chain.”

Canfor, a leading sustainable forestry products manufacturer, has partnered with FourKites to centralize visibility across its three main shipment modes: truck, rail and ocean. FourKites has enabled Canfor to integrate its transportation management into a new automated system to track shipments across all modes and to provide insight on container movements. Canfor is currently tracking over 50,000 container shipments a year with FourKites, and the company can proactively manage its customers’ supply pipelines to prevent stockouts and line-downs.

“The automated reporting and tracking provides more accurate and real-time data, which allows Canfor to respond to customer inquiries quicker and with up-to-date information on their upcoming shipments that would have otherwise had to be manually tracked,” explains Bob Hayes, Vice President, Global Supply Chain, Canfor.

“We are witnessing an important new phase in real-time supply chain visibility, as more companies leverage this indispensable technology to better manage complex global shipments end to end,” said FourKites Founder and CEO Mathew Elenjickal. “The combination of physical tracking from origin to delivery, together with predictive ETAs and analytics, is proving a huge advantage during the most challenging year on record for supply chains.”

FourKites has invested heavily in international coverage and multimodal capabilities over the last year, including:

  • End-to-end tracking capabilities that link ocean to rail tracking and ocean to OTR, with the industry’s most accurate, predictive ETAs across modes.
  • New machine learning ETAs for ocean and rail, comparing real-time vessel/railcar position data against historical transit times while factoring in speed, weather, port/terminal congestion and other variables to optimize the flow of goods. In addition, FourKites provides a publicly available Network Congestion Map that tracks cross-border freight movements across North America, Mexico and Europe, as well as port delays for over 230 ports globally and interstate transit metrics.
  • Global expansion updates in Europe, Latin America and Australia/New Zealand that factor travel bans and resting time information into tracking logic and ETAs; real-time traffic and weather data across regions; and tracking ability for more than 75,000 seaports, airports and rail terminals globally.

About FourKites 
FourKites is the largest predictive supply chain visibility platform, delivering real-time visibility and predictive analytics for the broadest network of Global 1000 companies and third-party logistics firms. Using a proprietary algorithm to calculate shipment arrival times, FourKites enables customers to lower operating costs, improve on-time performance and strengthen end-customer relationships. FourKites’ network spans millions of GPS/ELD devices in 176+ countries and covers all modes, including truckload, LTL, ocean, rail, air, intermodal, courier and parcel, and extends real-time visibility into the yard. FourKites has 1 million loads and over $100 billion in freight under management at any given time. The platform is optimized for mobile and equipped with market-leading end-to-end security.

To learn more, visit https://www.fourkites.com/.

Media Contact: 
Marianna Vyridi 
Big Valley Marketing for FourKites 
(650) 468-3263 
[email protected]



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NexTech AR Reports a Record-Breaking 315% Increase in Black Friday Sales from Last Year

  • G
    rowth is attributed to AR
    –
    expanded
    brand distribution deals
  • New distribution deal with
    Dyson boost
    s
    revenue 20% percent
  • Company rapidly expanding its
    immersive WebAR eCommerce experiences

VANCOUVER, British Columbia, Dec. 03, 2020 (GLOBE NEWSWIRE) — NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a leading provider of virtual and augmented reality (AR) experience technologies and services for eCommerce, education, conferences and events today announced that it has achieved a record-breaking 315% increase in Black Friday sales year-over-year across it’s AR eCommerce platform. With 2020 being a year dominated by coronavirus, shoppers have shown that they will embrace the convenience and safety of online shopping more than ever.

Company Highlights:

  • More AR shopping experiences than ever before with an aggressive AR/3D site rollout planned for Q1 2021
  • Company is supporting this rollout with a new AR development team assembled and located in its 20,000 sq ft California facility
  • Record-breaking 315% increase in Black Friday sales
  • Website traffic relative increases 450% compared to 2020 average daily traffic
  • Website order value increased 38% year-over-year
  • Website order value is 26.6% higher than Shopify’s average Black Friday cart

NexTech’s AR eCommerce operations saw a steep uptick in sales throughout the month of November and around the Black Friday and Cyber Monday holidays. The exponential increase in traffic and sales on these platforms can be attributed to the addition of new AR/3D shopping experiences, plus it’s new brand lineup announced in August including; Philips Norelco, MR. Coffee, Vitamix, MetroVac, Breville, and Cuisinart. Notably, the company recently signed an expanded major distribution deal with the Dyson brand which the company is ARitizing.

“AR is already being used in eCommerce by Wayfair, Home Depot, IKEA, HOUZZ and others and has proven its ability to increase sales and purchasing confidence, but it’s still not the standard- yet. We’re aiming to change that as we integrate this valuable technology into the consumer shopping experience through our eCommerce division, and the 315% increase in Black Friday Sales speaks for itself,” said Feras Abutaha, VP of Operations at NexTech AR. He continues, “We’re only scratching the surface on the potential of AR in this space. Moving forward into 2021, our team at NexTech plans to bring AR to the forefront, making it accessible to the masses and becoming the new industry standard for eCommerce much like Apple did with the iPhone in the consumer technology space. Furthermore, we plan to evolve our premium customer service, enhance our rapid shipping, and incorporate even more premium home appliance brands into the portfolio, making our online shopping experience unlike any other.”

Evan Gappelberg, CEO of NexTech AR comments, “I am thrilled to see our AR eCommerce operations flourishing and breaking new records this holiday season. Industry growth for eCommerce is up around 30% this year, but at NexTech, our growth in this area has exceeded 200% percent, showing that our approach of using AR is not only successful but creates a framework for others to follow when aiming to differentiate themselves from their competitors.” He continues, “The pandemic has pushed everyone to become more demanding with their online purchases – we all want to get a better sense of what we’re purchasing, we want to experience the items in our homes before we purchase them, which is exactly what AR does. With our AR technology firmly in place, and applying our web AR to ever-growing selection of brands we are truly doing pioneering work in AR for eCommerce and laying the building blocks for others to follow.”

According to Adobe Analytics, eCommerce spending on Black Friday increased 21.6% this year, totaling $9 billion in online transactions while the largest eCommerce day of the year reached $10.8 billion in sales, increasing 15.1% from 2019. The surge in online shopping was fueled by retailers pushing for safer shopping practices during the pandemic, along with more consumers not only purchasing new technologies like smartphones and wearables, but also household grocery and fresh food items.

About NexTech AR

NexTech is one of the leaders in the rapidly growing Augmented Reality market estimated to grow from USD $10.7B in 2019 and projected to reach USD $72.7B by 2024 according to Markets & Markets Research; it is expected to grow at a CAGR of 46.6% from 2019 to 2024.

The company is pursuing four verticals:


InfernoAR: An advanced Augmented Reality and Video Learning Experience Platform for Events, is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality in one secure platform to allow enterprises the ability to create the world’s most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages. According to Grandview Research the global virtual events market in 2020 is $90B and expected to reach more than $400B by 2027, growing at a 23% CAGR. With NexTech’s Virtual Conference Platform having augmented reality, AI, end-to-end encryption and built in language translation for 64 languages, the company is well positioned to rapidly take market share as the growth accelerates globally.


ARitize™ For eCommerce: The company launched its SaaS platform for webAR in eCommerce early in 2019. NexTech has a ‘full funnel’ end-to-end eCommerce solution for the AR industry including its Aritize360 app for 3D product capture, 3D/AR ads, its Aritize white label app it’s ‘Try it On’ technology for online apparel, 3D and 360-degree product views, and ‘one click buy’.


ARitize™ 3D/AR Advertising Platform: Launched in Q1 2020 the ad platform will be the industry’s first end-to-end solution whereby the company will leverage its 3D asset creation into 3D/AR ads. In 2019, according to IDC, global advertising spend will be about $725 billion.


ARitize™ Hollywood Studios: The studio is in development producing immersive content using 360 video, and augmented reality as the primary display platform.

To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.nextechar.com.

For further information, please contact:
Evan Gappelberg
Chief Executive Officer
[email protected]

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “looking forward” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of NexTech to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such 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 forward-looking information. NexTech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.



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Notice of Extraordinary General Meeting in Haldex Aktiebolag (publ)

The shareholders of Haldex Aktiebolag (publ) are hereby invited to attend the Extraordinary General Meeting to be held on 29 December 2020

PR Newswire

STOCKHOLM, Dec. 3, 2020 /PRNewswire/ — Due to the uncertain situation with the ongoing spread of the virus that causes COVID-19, the Board has decided that an Extraordinary General Meeting shall be held without the physical presence of shareholders, proxies or third parties, and that shareholders shall only be able to exercise their voting rights by postal vote before the meeting. Information on the decisions made by the Extraordinary General Meeting will be published on the company’s website on 29 December 2020, as soon as the outcome of the postal voting is finally compiled. 

A. RIGHT TO ATTEND THE GENERAL MEETING

Shareholders who wish to attend the general meeting must

i.   be included in its own name in the share register maintained by Euroclear Sweden AB, as of 17 December 2020, and

ii.   cast their postal vote in accordance with the instructions below no later than on 28 December 2020.

Shareholders who have their shares nominee registered through a bank or other broker must have their shares owner-registered with Euroclear Sweden AB. Such registration must be completed by 21 December 2020. The registration may be temporary. 

Shareholders may only exercise their voting rights at the meeting by voting in advance through digital postal voting. Shareholders must use a digital form to vote which will be available at the company’s website, https://www.haldex.com/sv/corporate. The form must be submitted by 28 December 2020. Shareholders who exercise their voting rights by postal voting do not need to register specifically for the meeting, the submitted voting form will be considered a notification.

If a shareholder submits as postal vote by proxy, a power of attorney must be attached to the form. If the shareholder is a legal entity, a registration certificate or another authorisation document must be attached to the form. Further information and instructions can be found on the on the form itself. A proxy form for shareholders who wish to vote by proxy are available on the company’s website, https://www.haldex.com/sv/corporate.

B. AGENDA

Proposal for agenda

  1. Opening of the Extraordinary General Meeting and election of Chairman of the meeting.
  2. Drawing up and approval of the voting list.
  3. Election of two persons to attest the minutes.
  4. Determination of whether the Extraordinary General Meeting has been properly convened.
  5. Approval of the agenda.
  6. Election of two additional board members. 
  7. Closing of the Extraordinary General Meeting.

Proposal for resolution

Election of Chairman of the meeting (item 1)

The Board of Directors proposes that the Chairman of the Board, Stefan Charette, is elected Chairman of this Extraordinary General Meeting.

Establishment and approval of the voting list (item 2)

The Board of Directors proposes that the General Meeting approve the voting list prepared by the company based on the share register and the votes received, checked by the persons attesting the minutes.

Election of adjusters (item 3)

The Board of Directors proposes that two persons are appointed to attest the minutes and that Patricia Hedelius, representing AMF Pensionsförsäkring AB and Anders Algotsson, representing AFA Sjukförsäkrings AB are appointed.

Election of two additional board members (item 6)

AFA Sjukförsäkrings AB, AMF Pensionsförsäkring AB, Athanase Industrial Partner and Fjärde AP-fonden have announced to the company’s Board of Directors their joint proposal to appoint two more members to the company’s board.

Proposed as additional members are Detlef Borghardt and Dzeki Mackinovski. The Board currently consists of five members elected by the Annual General Meeting, and will if the proposal is accepted, consist of a total of seven elected board members; Stefan Charette (Chairman), Helene Svahn (member and CEO), Viveka Ekberg, Håkan Karlsson, Catharina Modahl Nilsson, Detlef Borghardt and Dzeki Mackinovski.

A statement regarding the above-mentioned owners’ proposal will be published on the company’s website.

C. MISCELLANEOUS 

Information at the meeting

Shareholders who wish to exercise their right to request information in accordance with Chapter 7, Section 32 of the Swedish Companies Act must submit a written request to Haldex AB, Att: Katarina Rönne, Box 507, SE-261 24 Landskrona, Sweden, or an email to [email protected] no later than 19 December 2020. Such information is available at the company and on the company’s website, and will be sent to the shareholders who has requested it no later than 24 December 2020.

Shares and votes      

As per the day of this notice, the total number of shares and votes in Haldex amounts to 48 637 567. Haldex holds 11 705 shares in treasury as per the day of this notice.

Processing of personal data

For information on how personal data is processed in connection with the General Meeting, please see the integrity policy available on Euroclear Sweden AB:s website: https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf 

Landskrona in December 2020

 Haldex Aktiebolag (publ)

The board of directors

For further information, please visit, https://www.haldex.com/sv/corporate, or contact

Helene Svahn, President & CEO
E-mail: [email protected] 
Phone: +46 418-47 60 00

This information is information that Haldex AB (publ) is obliged to make public pursuant to NASDAQ Stockholm’s Rule book for Issuers. The information was submitted for publication, through the agency of the above-mentioned contact person, on 3 December, 2020 at 13.00 CET.

About Haldex

Over 100 years of powerful innovation gives Haldex unsurpassed expertise when it comes to braking systems and air suspension systems for heavy trucks, trailers and buses. We live and breathe our business with the goal to deliver robust and technically superior solutions which is founded in a deep insight in our customer’s reality. Through focusing on our core competences and the passion we all share, we achieve the agility and flexibility that the market demands. Innovative collaborations aren’t only the core of our products, but our philosophy. Our 2200 employees, spread out across four continents, challenge the conventional on a daily basis in order to secure that the products we deliver create a unique value to our customers and the end users. We are listed on Nasdaq Stockholm and have a turnover of approx. 5 billion SEK.

This document is an unofficial translation of the Swedish original thereof. In the event of any discrepancies between the versions, the Swedish version shall prevail.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/haldex/r/notice-of-extraordinary-general-meeting-in-haldex-aktiebolag–publ-,c3248569

The following files are available for download:


https://mb.cision.com/Main/1432/3248569/1343745.pdf

Notice of Extraordinary General Meeting in Haldex Aktiebolag (publ)

 

Cision View original content:http://www.prnewswire.com/news-releases/notice-of-extraordinary-general-meeting-in-haldex-aktiebolag-publ-301185646.html

SOURCE Haldex

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Prasaga Launches First Blockchain Operating System

eXtensible Blockchain Object Model (XBOM) now on HyperLedger

Las Vegas, NV, Dec. 03, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) Prasaga LLC, has launched its testnet of the eXtensible Blockchain Object Model on HyperLedger Fabric available on XBOM.IO. XBOM is an object oriented GlobalOS for HyperLedger. XBOM’s foundational architecture is the same system used in today’s leading Operating Systems: Windows and MacOS X. XBOM is a forward leap for blockchain, just as the introduction of Windows was as a replacement for MS-DOS.

“Your phone, your computer, and your smartwatch all have operating systems that make it easy to develop for and to use,” said Michael Holdmann, Founder & CEO of Prasaga. “Easy is good. But the blockchain is anything but easy. We need the blockchain to be easy. Easy to use. Easy to develop for. XBOM makes it easy to develop for and to use the blockchain.”

“With XBOM, developers build applications with the object-oriented programming model, and XBOM provides an infrastructure serving them,” said K.C. Tam, Educator/Writer/Blockchain Consultant. “The infrastructure, called the Class Manager Infrastructure, then interacts with the underlying infrastructure, which, in this case, is a fabric network. Theoretically the developer does not care about the blockchain, as it is well handled by the infrastructure. This is the reason XBOM is positioned as a “Decentralized GlobalOS,” like an operating system on top of the blockchain.”[*]

XBOM provides the advantage for the ability to load code dynamically without having to restart the Hyperledger Fabric chain, enablement of many to many supply chain relationships and allow reuse of code. In supply chain applications, suppliers with multiple OEM’s/Manufacturers requiring proprietary supply chain environments can use the same backend across all, significantly reducing operation costs to the lower tier companies.

About Prasaga

Prasaga is a Foundation-based organization and the creator the DataGrid Blockchain, a new native chain and coin project, embracing developers, miners, and token holders.

About Hyperledger Foundation 

Hyperledger, an open source collaborative effort hosted by The Linux Foundation, created to advance cross-industry blockchain technologies. It is a permissioned environment that is used by Oracle, IBM and others as the primary technology in their respective blockchain platforms.


[*] First Attempt in XBOM (eXtensible Blockchain Object Model)

Contact:

Jay Moore
Co-Founder / CMO
Prasaga LLC
541-543-3963
[email protected]



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The Michaels Companies Announces Third Quarter Fiscal 2020 Results

The Michaels Companies Announces Third Quarter Fiscal 2020 Results

  • Net Sales increase of 15.1% to $1.406 billion; Comparable Store Sales increase of 16.3%; including e-commerce growth of 128.0%
  • Operating Income increase of 161.6% to $199.0 million; Adjusted Operating Income increase of 71.7% to $201.6 million
  • Net Cash Flow from Operations of $413.1 million for the quarter; Free Cash Flow of $380 million for the quarter and $633 million on a year-to-date basis
  • Company announces special bonus to be paid in the fourth quarter for team members totaling approximately $10 million

IRVING, Texas–(BUSINESS WIRE)–
The Michaels Companies, Inc. (NASDAQ: MIK) today announced financial results for the third quarter fiscal 2020 ended October 31, 2020.

Ashley Buchanan, Michaels Chief Executive Officer commented, “Michaels delivered strong third quarter results highlighted by comparable store sales growth of 16.3%, which was driven by robust consumer demand, improved retail execution and continued progress against our strategic initiatives. Our expanded omni channel capabilities, Maker-centric branding, and increasingly personalized marketing resonated well with customers. We also benefited from progress we made on our ongoing efforts around strategic inventory management, streamlined store operations and a disciplined approach to pricing and promotions. Importantly, we strengthened our balance sheet by paying down $150 million in debt and increased our financial flexibility by refinancing and significantly extending the maturity of our term loan.”

Mr. Buchanan added, “Our Maker strategy underpins the work we are doing to innovate and elevate the customer experience as we transform Michaels into a leading omnichannel specialty retailer. We have strengthened our core business and put Michaels in a much stronger position today – operationally, financially, and strategically – than at the start of this year and I would like to extend my gratitude to every single Michaels team member whose hard work has enabled these results. While the operating environment continues to evolve, we look forward to building on our progress as we continue to drive toward sustainable growth over the long term.”

 

 

13 Weeks Ended

October 31, 2020

13 Weeks Ended

November 2, 2019

39 Weeks Ended

October 31, 2020

39 Weeks Ended

November 2, 2019

Net Sales

$1,406.2M

$1,222.0M

$3,354.3M

$3,349.4M

Comp. Store Sales

16.3%

(2.2%)

0.6%

(1.7%)

Operating Income

$199.0M

$76.0M

$191.5M

$240.1M

Net Income

$111.1M

$28.7M

$39.9M

$90.9M

Diluted Earnings per Share

$0.74

$0.19

$0.27

$0.58

Adjusted Operating Income1

$201.6M

$117.4M

$246.6M

$294.0M

Adjusted Net Income 1

$129.3M

$60.1M

$97.7M

$138.7M

Adjusted Diluted Earnings per Share1

$0.86

$0.40

$0.66

$0.89

1 See additional information in this release for a reconciliation of non-GAAP financial measures to the respective GAAP measures.

Key Highlights

  • Michaels delivered a 16.3% increase in third quarter comparable store sales, driven by strong demand in both stores and e-commerce.
  • Third quarter e-commerce growth of more than 128% year over year was driven by enhanced and expanded omnichannel capabilities including curbside pick-up, same day delivery, ship from store, buy online, pick-up in store, or BOPIS, in-app purchases and more. Year-to-date e-commerce growth totaled 249%.
  • Improved capital structure with successful refinancing of term loan, extending maturity dates to 2027 and $150 million in debt pay down.

Third Quarter Fiscal 2020 (13 weeks ended October 31, 2020):

  • The 15.1% increase in sales for the third quarter of fiscal 2020 compared to the same period in the prior year was due to a 16.3% increase in comparable store sales and sales related to additional stores opened (net of closures) since the end of the third quarter of fiscal 2019, partially offset by a sales decline due to the closure of our wholesale business.
  • Operating income was $199.0 million, an increase of 162% when compared to operating income of $76.0 million in the third quarter of fiscal 2019. Adjusted operating income for the third quarter of fiscal 2020 increased 72% to $201.6 million from $117.4 million in the third quarter of fiscal 2019. A full reconciliation of adjusted operating income is available within the tables of this press release.

Balance sheet and liquidity highlights:

  • The Company generated $380 million in free cash flow (defined as cash flow from operating activities less capital expenditures) during the third quarter and $633 million on a year-to-date basis.
  • The Company ended the third quarter of fiscal 2020 with a cash balance of $852 million and full access to an undrawn revolving credit facility.

Special Bonus for Team Members:

The company announced that during the fourth quarter it will pay approximately $10 million in one-time holiday bonuses to both full-time and part-time team members as a thank you for their extraordinary work this year during unprecedented times.

Mr. Buchanan commented, “We want to show our gratitude to all of our team members who have continued to deliver incredible customer service and are a critical element to our ongoing success this year during such trying times for our communities.”

Outlook:

Given the continued uncertainty due to the COVID-19 pandemic, including a dynamic and uncertain outlook for consumer spending patterns and associated government policies, the Company is not providing any formal guidance at this time.

Conference Call Information

A conference call to discuss second quarter financial results is scheduled for today, December 3, 2020, at 8:00 am Central Time. Investors who would like to join the conference call are encouraged to pre-register for the conference call using the following link: https://dpregister.com/sreg/10149320/dbb27dd898. Callers who pre-register will be given a phone number and a unique PIN to bypass the live operator and gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time. Investors without internet access or who are unable to pre-register can join the call by dialing (844) 340-4762 or (412) 717-9617.

A live webcast of the conference call, together with certain supplemental presentation materials, will be available online at http://investors.michaels.com/. To listen to the live call, please go to the website at least 15 minutes before the call is scheduled to begin to register and download any necessary audio software. The webcast will be accessible for 3 months after the call. Additionally, a telephone replay will be available until December 19, 2020, by dialing (877) 344-7529 or (412) 317-0088, access code 10149320.

Non-GAAP Information

This press release includes non-GAAP measures including adjusted operating income, adjusted net income, adjusted diluted earnings per share, EBITDA and adjusted EBITDA. The Company has reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures in a table accompanying this release. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company’s business and facilitate a meaningful evaluation of its quarterly and fiscal 2020 results on a comparable basis with its quarterly and fiscal 2019 results.

The Company has provided this information as a means to evaluate the results of its ongoing operations. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. The Company’s presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by any such adjustments. Other companies in the Company’s industry may calculate these items differently than it does.

Forward-Looking Statements

This news release includes forward-looking statements which reflect management’s current views and estimates regarding the Company’s industry, business strategy, goals, and expectations concerning its market position, future operations, including with respect to liquidity and capital resources, the introduction of new capabilities, our ability to navigate the COVID-19 pandemic and the opening of stores following temporary closures, expected costs of the closure of Darice operations and other financial and operating information. The words “anticipate”, “assume”, “believe”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “imply”, “intend”, “may”, “outlook”, “plan”, “potential”, “predict”, “project”, and similar terms and phrases are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to risks relating to the effect of the adverse effect of the ongoing COVID-19 outbreak; economic uncertainty; substantial changes to fiscal and tax policies; our reliance on foreign suppliers; regulatory changes; the seasonality of our business; changes in customer demand; damage to the reputation of the Michaels brand or our private and exclusive brands; unexpected or unfavorable consumer responses to our promotional or merchandising programs; our failure to adequately maintain security and prevent unauthorized access to electronic and other confidential information; increased competition including internet-based competition from other retailers; the impact of tariffs on certain products that we import from China and other risks and uncertainties including those identified under the heading “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, each of which are filed with the Securities and Exchange Commission (“SEC”) and available at www.sec.gov, and other filings that the Company may make with the SEC in the future. If one or more of these risks or uncertainties materialize, or if any of the Company’s assumptions prove incorrect, the Company’s actual results may vary in material respects from those projected in these forward-looking statements.

Any forward-looking statement made by the Company in this news release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

About The Michaels Companies, Inc.:

The Michaels Companies, Inc. is North America’s largest specialty provider of arts, crafts, framing, floral, wall décor, and seasonal merchandise for Makers and do-it-yourself home decorators. The Company operates more than 1,272 Michaels stores in 49 states and Canada. Additionally, the Company serves customers through digital platforms including Michaels.com and Canada.michaels.com. The Michaels Companies, Inc., also owns Artistree, a manufacturer of high-quality custom and specialty framing merchandise. For a list of store locations or to shop online, visit www.michaels.com or download the Michaels app.

 
The Michaels Companies, Inc.
Consolidated Statements of Comprehensive Income
(Unaudited)
 
13 Weeks Ended 39 Weeks Ended
October 31, November 2, October 31, November 2,
(in thousands, except per share data)

2020

2019

2020

2019
Net sales $

1,406,212

 $

1,222,021

 $

3,354,270

 

$

3,349,430

 

Cost of sales and occupancy expense

824,496

780,387

2,208,220

 

2,123,171

 

Gross profit

581,716

441,634

1,146,050

 

1,226,259

 

Selling, general and administrative

373,193

322,807

943,587

 

933,478

 

Restructure and impairment charges

9,388

41,376

9,388

 

48,332

 

Store pre-opening costs

184

1,402

1,528

 

4,370

 

Operating income

198,951

76,049

191,547

 

240,079

 

Interest expense

37,370

38,781

112,233

 

116,274

 

Losses on early extinguishments of debt and refinancing costs

22,044

161

22,044

 

1,316

 

Other expense (income), net

131

78

(1,426

)

2,931

 

Income before income taxes

139,406

37,029

58,696

 

119,558

 

Income taxes

28,284

8,324

18,836

 

28,615

 

Net income $

111,122

 $

28,705

 $

39,860

 

$

90,943

 

 
Other comprehensive income, net of tax:
Foreign currency and cash flow hedges

3,910

1,230

(1,466

)

(8,358

)

Comprehensive income $

115,032

 $

29,935

 $

38,394

 

$

82,585

 

 
Earnings per common share:
Basic $

0.75

$

0.19

$

0.27

 

$

0.58

 

Diluted $

0.74

$

0.19

$

0.27

 

$

0.58

 

Weighted-average common shares outstanding:
Basic

147,402

150,877

147,188

 

155,299

 

Diluted

150,292

150,925

148,796

 

155,342

 

 
The following table sets forth the percentage relationship to net sales of each line item of our unaudited consolidated statements of comprehensive income:
13 Weeks Ended 39 Weeks Ended
October 31, November 2, October 31, November 2,

2020

2019

2020

2019
Net sales

100.0

%

100.0

%

100.0

%

100.0

%
Cost of sales and occupancy expense

58.6

63.9

65.8

63.4

Gross profit

41.4

36.1

34.2

36.6
Selling, general and administrative

26.5

26.4

28.1

27.9

Restructure and impairment charges

0.7

3.4

0.3

1.4

Store pre-opening costs

—

0.1

—

0.1

Operating income

14.1

6.2

5.7

7.2
Interest expense

2.7

3.2

3.3

3.5

Losses on early extinguishments of debt and refinancing costs

1.6

—

0.7

—

Other expense (income), net

—

—

—

0.1

Income before income taxes

9.9

3.0

1.7

3.6
Income taxes

2.0

0.7

0.6

0.9

Net income

7.9

%

2.3

%

1.2

%

2.7

%
 
The Michaels Companies, Inc.
Consolidated Balance Sheets
(Unaudited)
 
October 31, November 2,
(in thousands, except per share data)

2020

2019
ASSETS
Current Assets:
Cash and equivalents $

851,996

 

$

118,387

 

Merchandise inventories

1,170,504

 

1,423,367

 

Prepaid expenses and other

69,663

 

73,223

 

Accounts receivable, net

24,232

 

26,968

 

Total current assets

2,116,395

 

1,641,945

 

Property and equipment, at cost

1,772,473

 

1,733,717

 

Less accumulated depreciation and amortization

(1,356,945

)

(1,301,785

)

Property and equipment, net

415,528

 

431,932

 

Operating lease assets

1,542,059

 

1,613,527

 

Goodwill

94,290

 

94,290

 

Other intangible assets, net

58,666

 

5,043

 

Deferred income taxes

18,825

 

38,075

 

Other assets

17,558

 

20,267

 

Total assets $

4,263,321

 

$

3,845,079

 

 
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities:
Accounts payable $

895,200

 

$

658,182

 

Accrued liabilities and other

452,669

 

374,120

 

Current portion of operating lease liabilities

321,868

 

303,023

 

Current portion of long-term debt

16,700

 

24,900

 

Income taxes payable

48,064

 

22,520

 

Total current liabilities

1,734,501

 

1,382,745

 

Long-term debt

2,483,702

 

2,649,756

 

Long-term operating lease liabilities

1,314,987

 

1,374,555

 

Other liabilities

120,061

 

69,853

 

Total liabilities

5,653,251

 

5,476,909

 

 
Stockholders’ Deficit:
Common Stock, $0.06775 par value, 350,000 shares authorized; 147,546 shares issued and outstanding at October 31, 2020; 146,770 shares issued and outstanding at November 2, 2019.

9,908

 

9,850

 

Additional paid-in-capital

22,956

 

1,245

 

Accumulated deficit

(1,398,497

)

(1,620,009

)

Accumulated other comprehensive loss

(24,297

)

(22,916

)

Total stockholders’ deficit

(1,389,930

)

(1,631,830

)

Total liabilities and stockholders’ deficit $

4,263,321

 

$

3,845,079

 

 
The Michaels Companies, Inc.
Consolidated Statements of Cash Flows
(Unaudited)
 
39 Weeks Ended
October 31, November 2,
(in thousands)

2020

2019
Cash flows from operating activities:
Net income $

39,860

 

$

90,943

 

Adjustments to reconcile net income to net cash provided by operating activities:
Non-cash operating lease expense

241,040

 

244,258

 

Depreciation and amortization

95,382

 

94,025

 

Share-based compensation

19,759

 

18,664

 

Debt issuance costs amortization

2,757

 

3,509

 

Loss on write-off of investment

—

 

5,036

 

Accretion of long-term debt, net

480

 

(195

)

Restructure and impairment charges

9,388

 

48,332

 

Impairment of intangible assets

3,500

 

—

 

Deferred income taxes

(289

)

(9,984

)

Gain on sale of building

(101

)

—

 

Losses on early extinguishments of debt and refinancing costs

22,044

 

1,316

 

Changes in assets and liabilities:
Merchandise inventories

(74,009

)

(316,220

)

Prepaid expenses and other

(7,377

)

(14,445

)

Accounts receivable

13,368

 

30,684

 

Other assets

790

 

(4,728

)

Operating lease liabilities

(207,334

)

(225,951

)

Accounts payable

414,286

 

162,222

 

Accrued interest

11,217

 

8,441

 

Accrued liabilities and other

97,539

 

(10,471

)

Income taxes

3,660

 

(18,318

)

Other liabilities

26,900

 

(751

)

Net cash provided by operating activities

712,860

 

106,367

 

 
Cash flows from investing activities:
Additions to property and equipment

(79,545

)

(89,632

)

Proceeds from sale of building

875

 

—

 

Net cash used in investing activities

(78,670

)

(89,632

)
 
Cash flows from financing activities:
Common stock repurchased

(1,103

)

(107,908

)

Payments on term loan credit facility

(541,775

)

(18,675

)

Payment of 2020 senior subordinated notes

—

 

(510,000

)

Issuance of senior notes

—

 

500,000

 

Issuance of senior secured notes

375,000

 

—

 

Borrowings on asset-based revolving credit facility

600,000

 

11,100

 

Payments on asset-based revolving credit facility

(600,000

)

(11,100

)

Payment of debt refinancing costs

(24,267

)

(8,158

)

Proceeds from stock options exercised

105

 

506

 

Other financing activities

(118

)

—

 

Net cash used in financing activities

(192,158

)

(144,235

)
 
Net change in cash and equivalents

442,032

 

(127,500

)

Cash and equivalents at beginning of period

409,964

 

245,887

 

Cash and equivalents at end of period $

851,996

 

$

118,387

 

 
 
The Michaels Companies, Inc.
Reconciliation of Adjusted EBITDA
(Unaudited)
 
13 Weeks Ended 39 Weeks Ended
October 31, November 2, October 31, November 2,
(in thousands)

2020

2019

2020

2019
Net cash provided by operating activities $

413,111

 

$

108,475

 

$

712,860

 

$

106,367

 

Non-cash operating lease expense

(79,498

)

(81,397

)

(241,040

)

(244,258

)

Depreciation and amortization

(31,292

)

(31,295

)

(95,382

)

(94,025

)

Share-based compensation

(6,571

)

(6,658

)

(19,759

)

(18,664

)

Debt issuance costs amortization

(875

)

(970

)

(2,757

)

(3,509

)

Loss on write-off of investment

—

 

—

 

—

 

(5,036

)

Accretion of long-term debt, net

(349

)

(67

)

(480

)

195

 

Restructure and impairment charges

(9,388

)

(41,376

)

(9,388

)

(48,332

)

Impairment of intangible assets

—

 

—

 

(3,500

)

—

 

Deferred income taxes

(2,690

)

10,023

 

289

 

9,984

 

Gain on sale of building

—

 

—

 

101

 

—

 

Losses on early extinguishments of debt and refinancing costs

(22,044

)

(161

)

(22,044

)

(1,316

)

Changes in assets and liabilities

(149,282

)

72,131

 

(279,040

)

389,537

 

Net income

111,122

 

28,705

 

39,860

 

90,943

 

Interest expense

37,370

 

38,781

 

112,233

 

116,274

 

Income taxes

28,284

 

8,324

 

18,836

 

28,615

 

Depreciation and amortization

31,292

 

31,295

 

95,382

 

94,025

 

Interest income

(144

)

(297

)

(1,426

)

(2,012

)

EBITDA

207,924

 

106,808

 

264,885

 

327,845

 

Adjustments:
COVID-19 expense (1)

632

 

—

 

19,158

 

—

 

Losses on early extinguishments of debt and refinancing costs

22,044

 

161

 

22,044

 

1,316

 

Share-based compensation

6,571

 

6,658

 

19,759

 

18,664

 

Restructure and impairment charges

9,388

 

41,376

 

9,388

 

48,332

 

Darice liquidation charges

(6,775

)

—

 

45,711

 

—

 

Severance costs

667

 

1,683

 

5,537

 

5,175

 

Store pre-opening costs

184

 

1,402

 

1,528

 

4,370

 

Store remodel costs

1,226

 

174

 

1,675

 

242

 

Foreign currency transaction losses (gains), net

8

 

192

 

(322

)

659

 

Store closing costs

96

 

478

 

907

 

(469

)

Consulting costs

9,240

 

—

 

14,149

 

—

 

CEO severance costs

—

 

—

 

—

 

5,569

 

Other(2)

1,981

 

1,788

 

7,644

 

4,489

 

Adjusted EBITDA $

253,186

 

$

160,720

 

$

412,063

 

$

416,192

 

 
(1) Includes costs attributable to the COVID-19 pandemic including hazard pay for team members, costs associated with furloughed employees, certain inventory charges and sanitation supplies.
(2)Other adjustments primarily relate to items such as moving and relocation expenses, franchise taxes, sign-on bonuses, director’s fees, search costs and the support center move.
 
 
The Michaels Companies, Inc.
Reconciliation of GAAP basis to Adjusted operating income, Adjusted net income and Adjusted earnings per share
(Unaudited)
 
13 Weeks Ended 39 Weeks Ended
October 31, November 2, October 31, November 2,
(In thousands, except per share)

2020

2019

2020

2019
Operating income $

198,951

 

$

76,049

 

$

191,547

 

$

240,079

 

Restructure and impairment charges (a)

9,388

 

41,376

 

9,388

 

48,332

 

Darice liquidation (income) charges (b)

(6,775

)

—

 

45,711

 

—

 

CEO severance costs

—

 

—

 

—

 

5,569

 

Adjusted operating income $

201,564

 

$

117,425

 

$

246,646

 

$

293,980

 

 
Net income $

111,122

 

$

28,705

 

$

39,860

 

$

90,943

 

Restructure and impairment charges (a)

9,388

 

41,376

 

9,388

 

48,332

 

Darice liquidation (income) charges (b)

(6,775

)

—

 

45,711

 

—

 

CEO severance costs

—

 

—

 

—

 

5,569

 

Write-off of investment (c)

—

 

—

 

—

 

5,036

 

Losses on early extinguishments of debt and refinancing costs

22,044

 

161

 

22,044

 

1,316

 

Interest on 2020 senior subordinated notes (d)

—

 

—

 

1,748

 

Tax adjustment for above items (e)

(6,489

)

(10,139

)

(19,348

)

(14,232

)

Adjusted net income $

129,290

 

$

60,103

 

$

97,655

 

$

138,712

 

 
Earnings per common share, diluted $

0.74

 

$

0.19

 

$

0.27

 

$

0.58

 

Restructure and impairment charges (a)

0.06

 

0.27

 

0.06

 

0.31

 

Darice liquidation (income) charges (b)

(0.05

)

—

 

0.31

 

—

 

CEO severance costs

—

 

—

 

—

 

0.04

 

Write-off of investment (c)

—

 

—

 

—

 

0.03

 

Losses on early extinguishments of debt and refinancing costs

0.15

 

—

 

0.15

 

0.01

 

Interest on 2020 senior subordinated notes (d)

—

 

—

 

—

 

0.01

 

Tax adjustment for above items (e)

(0.04

)

(0.07

)

(0.13

)

(0.09

)

Adjusted earnings per common share, diluted $

0.86

 

$

0.40

 

$

0.66

 

$

0.89

 

 
(a) Fiscal 2020 excludes impairment of operating lease assets and leasehold improvements related to the relocation of our support center. Fiscal 2019 excludes 2019 exclude charges related to the closure of our Pat Catan’s stores and impairment charges recorded as a result of lower than expected operating performance in our wholesale business.
(b) Excludes (income) charges related to the closure of the Darice wholesale business.
(c) Excludes the write-off of an investment in a liquidated business.
(d) Excludes interest paid on our 2020 Senior Subordinated notes during the period between the issuance of our 2027 Senior Notes and when the proceeds from that issuance were used to redeem the 2020 Senior Subordinated Notes.
(e) Adjusts for the tax impact of the restructure and impairment charges, the Darice liquidation (income) charges, the CEO severance costs, the write-off of an investment in a liquidated business, early extinguishments of debt and refinancing costs and interest on a portion of our 2020 senior subordinated notes.
 
The Michaels Companies, Inc.
Summary of Operating Data
(Unaudited)
 
 
The following table sets forth certain of our unaudited operating data:
13 Weeks Ended 39 Weeks Ended
October 31, November 2, October 31, November 2,

2020

2019

2020

2019
 
Store open at beginning of period

1,275

 

1,262

 

1,274

 

1,258

 

New stores

1

 

13

 

6

 

21

 

Relocated stores opened

1

 

5

 

7

 

13

 

Closed stores

(3

)

(1

)

(7

)

(5

)

Relocated stores closed

(2

)

(5

)

(8

)

(13

)

Store open at end of period

1,272

 

1,274

 

1,272

 

1,274

 

 
 
 
Other Operating Data:
Average inventory per store (in thousands)

$ 916

 

$ 1,069

 

$ 916

 

$ 1,069

 

Comparable store sales

16.3

%

(2.2

)%

0.6

%

(1.7

)%

Comparable store sales, at constant currency

16.3

%

(2.1

)%

0.8

%

(1.4

)%

 

 

Investor Contact:

Jim Mathias

972.409.1393

[email protected]

ICR, Inc.

Farah Soi

203.682.8200

[email protected]

or

Financial Media Contact:

ICR, Inc.

Jessica Liddell/ Julia Young

203.682.8200

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Home Goods Retail Specialty

MEDIA:

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Avricore’s HealthTab Expands North With Oak Medical Arts

VANCOUVER, British Columbia, Dec. 03, 2020 (GLOBE NEWSWIRE) — Avricore Health Inc. (TSXV: AVCR, OTC: AVCRF) (“Avricore Health” or the “Company”) is pleased to announce it will be placing its real-time reporting HealthTab™ systems in Oak Medical Art’s community pharmacy locations, bringing advanced point of care testing to Canada’s North for the first time.

“HealthTab™ offers affordable screening solutions to communities where it just wasn’t possible before,” said Avricore Health’s CEO, Hector Bremner. “We think that everyone deserves access to healthcare data we’re so happy to officially reach Canada’s north!”

Pharmacies agree to a two-year lease commitment, as well as the purchase of reagent panels and other consumables from the Company. De-identified, statistical data can also be monetized, presenting additional revenue streams for the Company.

“Oak Medical Arts prides itself on innovation and putting patients at the center of everything we do,” said Bryan Gray, Director of Oak Medical Arts. “By offering point-of-care testing to better understand our patient needs, we can deliver better service and support better health outcomes.”

About HealthTab™
 + RASTR

HealthTab™ is a proven point-of-care screening system, designed to support pharmacists’ evolving role. The system empowers patients to be proactive about their health by directly measuring and monitoring key safety tests and biomarkers of chronic disease. The HealthTab™ test is simple, fast, lab-accurate, and requires just a few drops of blood from a finger stick. Results can be printed in-store or accessed securely online.

Typically, HealthTab™ utilizes the Piccolo Xpress, an Abaxis Global Diagnostics chemistry analyzer, however, the system is designed to interface with other devices and third-party applications.

As part of this direction for HealthTab™, the Company developed a revolutionary model for utilizing the system’s unique ability to offer real-time evaluations of treated populations and even real-world evaluation clinical trials.

The name for this approach is Rapid Access Safety Test Reporting, or RASTR Network, whereby the network of HealthTab™ systems feedback de-identified data through to electronic health records and data management systems via its API capabilities. This is the first platform of harmonized analyzers, with fully integrated data-flow, for blood chemistry results to be sent to consumers, their healthcare teams and sponsors, such as researchers, insurance providers and the life-science sector.

The significance of this approach to the market is the enhanced access to screening and early detection of disease, better data for physicians and pharmacists to support their patients, plus new opportunities to conduct research and ensure patient safety. 

About Avricore Health Inc.

Avricore Health Inc. is committed to becoming a health innovator and applying technologies at the forefront of science to core health issues at the community pharmacy level. The Company’s goal is to empower consumers, patients and pharmacists with innovative technology, products, services and information to monitor and optimize health. www.avricorehealth.com

Contact:

Hector Bremner, CEO 604-773-8943
[email protected] 
www.avricorehealth.com 

Cautionary Note Regarding Forward-Looking Statements

Information in this press release that involves Avricore Health’s expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Avricore Health generally uses words such as “outlook,” “will,” “could,” “would,” “might,” “remains,” “to be,” “plans,” “believes,” “may,” “expects,” “intends,” “anticipates,” “estimate,” “future,” “positioned,” “potential,” “project,” “remain,” “scheduled,” “set to,” “subject to,” “upcoming,” and similar expressions to help identify forward-looking statements. In this press release, forward-looking statements include statements regarding: the completion of the placement and the expected timing thereof and the Company’s expected use of proceeds from the placement; the unique features that the HealthTab™ platform offers to pharmacists and patients. Forward-looking statements reflect the then-current expectations, beliefs, assumptions, estimates and forecasts of Avricore Health’s management. The forward-looking statements in this press release are based upon information available to Avricore Health as of the date of this press release. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Avricore Health and are subject to a number of risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations, including without limitation: failure to meet regulatory requirements; changes in the market; potential downturns in economic conditions; and other risk factors described in Avricore’s public filings. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

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



Posted on

IMV’s Survivin-Targeted T Cell Therapy Shows Durable Clinical Benefits in Phase 2 Study in Patients with Hard-to-Treat Advanced Recurrent Ovarian Cancer

IMV’s Survivin-Targeted T Cell Therapy Shows Durable Clinical Benefits in Phase 2 Study in Patients with Hard-to-Treat Advanced Recurrent Ovarian Cancer

37% (7/19) patients experienced clinical benefits lasting over 6 months

12-month overall survival rate of 66.1%

Translational data confirms survivin-specific CD8+ T cell immune response in 87% of subjects which supports a direct link with DPX-Survivac’s mechanism of action

DARTMOUTH, Nova Scotia–(BUSINESS WIRE)–
IMV Inc. (Nasdaq: IMV; TSX: IMV), a clinical-stage biopharmaceutical company pioneering a novel class of targeted cancer immunotherapies and vaccines against infectious diseases, today reports updated clinical and translational data from DeCidE1, its Phase 2 clinical study evaluating the safety and efficacy of DPX-Survivac with intermittent low-dose cyclophosphamide (CPA) in patients with recurrent, advanced platinum-sensitive and platinum-resistant ovarian cancer.

Results from the ongoing study continue to demonstrate prolonged clinical benefits, alongside favorable tolerability, and translational data linking the observed clinical benefits with DPX-Survivac’s mechanism of action.

“IMV’s targeted T cell therapy continues to elicit a rapid and robust immune response with a demonstration that survivin-specific CD8+ T cells can infiltrate solid cancerous tumors. This could prove to be of significant interest considering that the narrowly focused action of cytotoxic CD8+ T cells allows them to kill single infected cells in tissue without creating widespread tissue damage,” declared Fred Ors, President and Chief Executive Officer of IMV.

“These results also clearly support the relevance of DPX-Survivac as a potential new and much-needed treatment option for advanced recurrent ovarian cancer, a hard-to-treat indication where other immunotherapies have thus far had limited success and where there is a high unmet medical need for patients who have failed chemotherapy and PARP inhibitors.”

“With these results, DPX-Survivac continues to exhibit significant and durable anti-tumor activity, paving the way for targeted T cell therapies in advanced recurrent ovarian cancer and other solid tumors.DPX-Survivac also continues to be well tolerated, which is especially meaningful compared to single-agent chemotherapy and other approaches in development,” added Joanne Schindler, M.D., D.V.M., Chief Medical Officer at IMV.

Updated Results from DeCidE1

As presented today, 19 patients were evaluable for efficacy and one patient (5%) remained on treatment. Notably, the majority of patients had received >3 lines of prior therapy and were resistant or refractory to their last platinum regimen. Key findings on the safety and efficacy of DPX-Survivac/CPA are outlined below:

  • 15 patients (78.9%) showed clinical benefits: partial response (PR) or stable disease (SD)
  • Durable clinical benefits over 6 months were observed in 7 patients (37%):

    • 5 patients (26.3%) demonstrated clinical benefit duration of approximately one year (11-16 months) with two patients still benefiting from treatment
  • Long tail progression free survival (PFS) was observed and consistent with immunotherapies in other cancer indications:

    • mPFS: 4.47 months
    • 6-month PFS of 39%
    • 12-month PFS of 20%
  • 66.1% 12-month overall survival rate. As more than 50% of patients are still alive, the median overall survival (mOS) has not been reached
  • Overall, treatment was well-tolerated. The majority of treatment-related adverse events reported were Grade 1 events and related to reactions at the injection site.

Extensive translational analyses are ongoing on collected peripheral blood mononuclear cells (PBMC), tumor tissue and plasma. Results obtained so far link the observed clinical benefit with survivin-specific T cells, supporting DPX-Survivac’s unique mechanism of action.

  • Treatment generated a survivin-specific CD8+ T cell response in PBMC samples of 14/16 (87%) evaluable patients
  • Treatment-induced infiltration of survivin-specific T cell clones into the tumors as early as day 56 following treatment.

Live webcast and call this morning at 8.00am Eastern Time.

IMV will be hosting a key opinion leader (KOL) webcast on the treatment options in ovarian cancer and competitive landscape within the disease state later this morning at 8.00am Eastern Time.

The webcast will feature presentations by KOLs Oliver Dorigo, MD, PhD, and Jeannine Villella, DO, FACOG, FACS who will discuss the treatment options in ovarian cancer and the competitive landscape within the disease state. The KOLs will also provide an update on the ongoing Phase 2 trial with IMV’s novel T cell therapy in patients with advanced ovarian cancer, along with insights about the patients’ experience. Drs. Dorigo and Villella will be available to answer questions from financial analysts following the formal presentation.

IMV management will discuss trial results and their significance to DPX, the company’s delivery platform, as well its outlook on next steps.

To register for the webcast, please click here. A webcast of the presentation will be available under “Events, Webcasts and Presentations” in the investors section of IMV’s website and a replay will be available approximately one hour after the presentation. Afterwards, the replay will be available for approximately 30 days. Financial analysts are welcome to ask questions during the live Q&A and are invited to submit their request via email or will be able to do so live during the event.

About the DeCidE1 Study

“DeCidE1” is a Phase 2 multicenter, open-label study evaluating the safety and effectiveness of DPX-Survivac, with intermittent low-dose cyclophosphamide (CPA) used as an immunomodulator to increase the level of survivin-specific T cells. This Phase 2 arm enrolled 19 evaluable patients with recurrent, advanced platinum-sensitive and –resistant ovarian cancer. Except for one patient, all patients were in an advanced stage of the disease, and 12 patients had received 3 or more lines of prior therapy.

Patients received 2 subcutaneous injections of DPX-Survivac three weeks apart and every eight weeks thereafter, and intermittent low dose CPA one week on and one week off for up to 1 year. Paired tumor biopsies were performed prior to treatment and on treatment.

Primary endpoints of this study are overall response rate, disease control rate and safety. Secondary endpoints include cell mediated immunity, immune cell infiltration in paired biopsy samples, duration of response, time to progression, overall survival and biomarker analyses.

About DPX-Survivac

DPX-Survivac is the lead candidate in IMV’s new class of targeted immunotherapies designed to elicit antigen-specific functional, robust and sustained de novo T cell response. IMV believes this mechanism of action is key to generating durable solid tumor regressions. DPX-Survivac consists of five unique HLA-restricted survivin peptides formulated in IMV’s proprietary DPX drug delivery platform and known to induce a cytotoxic CD8+ T cell response against survivin expressing cancer cells.

Survivin, recognized by the National Cancer Institute (NCI) as a promising tumor-associated antigen, is broadly over-expressed in most cancer types and plays an essential role in antagonizing cell death, supporting tumor-associated angiogenesis and promoting resistance to chemotherapies. IMV has identified over 20 cancer indications in which survivin can be targeted by DPX-Survivac.

DPX-Survivac has received Fast Track designation from the U.S. Food and Drug Administration (FDA) as maintenance therapy in advanced ovarian cancer, as well as orphan drug designation status from the U.S. FDA and the European Medicines Agency (EMA) in the ovarian cancer indication.

About IMV

IMV Inc. is a clinical stage biopharmaceutical company dedicated to making immunotherapy more effective, more broadly applicable, and more widely available to people facing cancer and other serious diseases. IMV is pioneering a new class of cancer-targeted immunotherapies and vaccines based on the Company’s proprietary drug delivery platform. This patented technology leverages a novel mechanism of action that enables the programming of immune cells in vivo, which are aimed at generating powerful new synthetic therapeutic capabilities. IMV’s lead candidate, DPX-Survivac, is a T cell-activating immunotherapy that combines the utility of the platform with a target: survivin. IMV is currently assessing DPX-Survivac as a monotherapy in advanced ovarian cancer, as well as a combination therapy in multiple clinical studies with Merck. IMV is also developing a DPX-based vaccine to fight against COVID-19. Visit www.imv-inc.com and connect with us on Twitter and LinkedIn.

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements regarding the FDA potentially granting accelerated regulatory approval of DPX-Survivac and the timing of expected results from other DPX-Survivac’s studies with other tumor types. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Corporation, including access to capital, the successful design and completion of clinical trials and the receipt and timely receipt of all regulatory approvals. IMV Inc. assumes no responsibility to update forward-looking statements in this press release except as required by law. These forward-looking statements involve known and unknown risks and uncertainties and those risks and uncertainties include, but are not limited to, our ability to access capital, the successful and timely completion of clinical trials and studies, the receipt of all regulatory approvals and other risks detailed from time to time in our ongoing quarterly filings and annual information form Investors are cautioned not to rely on these forward-looking statements and are encouraged to read IMV’s continuous disclosure documents, including its current annual information form, as well as its audited annual consolidated financial statements which are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar

Investor Relations

Marc Jasmin, Senior Director, Investor Relations, IMV Inc.

O: (902) 492-1819 ext : 1042

M: (514) 617-9481 E: [email protected]

Irina Koffler, Managing Director, LifeSci Advisors

O: (646) 970-4681

M: (917) 734-7387

E: [email protected]

Media

Delphine Davan, Director of Communications, IMV Inc.

M: (514) 698 1046

E: [email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Women Infectious Diseases Clinical Trials Biotechnology Health Consumer Pharmaceutical General Health Oncology

MEDIA:

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ICL Announces Private Offering of Additional $93.1 Million Senior Notes

Additional offering part of same series as previously issued $600 million

PR Newswire

TEL AVIV, Israel, Dec. 3, 2020 /PRNewswire/ — ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals and specialty chemicals company, announced today the private placement offering of an additional $93.1 million aggregate principal amount of its 6.375% senior unsecured notes due 2038 to a qualified institutional buyer, at a price of $1.29 per $1.00 principal amount, resulting in total proceeds of about $120 million. 

“We are pleased to have leveraged the current attractive market conditions to secure an additional $120 million of long-term debt at a 4% effective yield, as an expansion of our series F senior unsecured notes due in 2038,” said Kobi Altman, ICL’s CFO.  “This is in addition to the action we took in the third quarter to solidify our financial strength, which included the renewal of our five-year $300 million securitization facility and the extension of our $900 million credit facility to 2025.”

The additional notes will be part of the same series as the previously issued $600 million aggregate principal amount of ICL’s 6.375% senior unsecured notes due 2038.  The additional notes will have terms identical to the initial notes, except with respect to the date of issuance, the issue price, the initial interest accrual date and the initial interest payment date.  The additional notes and the initial notes will be treated as a single class of securities under the indenture governing the notes, and an application has been made to list the additional notes on the system of the Tel Aviv Stock Exchange for trading by institutional investors, known as TACT Institutional.

ICL intends to use the net proceeds from the offering for general corporate purposes, which could include acquisitions, debt repayment, capital expenditures or investments.

About ICL

ICL Group LTD is a leading global specialty minerals and chemicals company that creates impactful solutions for humanity’s sustainability challenges in global food, agriculture, and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation to drive growth across its end markets.  ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs over 11,000 people worldwide, and its 2019 revenues totaled approximately $5.3 billion.

For more information, visit the company’s website at www.icl-group.com.

To access ICL’s interactive Corporate Social Responsibility report, please click here.

You can also learn more about ICL on Facebook, LinkedIn and Instagram

Forward-Looking Statements

This press release contains forward-looking statements as to ICL’s expectations concerning the offering, but actual results could vary based on conditions in the capital markets and other factors described under “Risk Factors” in ICL’s Annual Report on Form 20-F for the year ended December 31, 2019 and in subsequent filings on Current Reports on Form 6-K. We undertake no obligation to release publicly the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof, including, without limitation, changes in ICL’s business or acquisition strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events.


INVESTOR RELATIONS CONTACTS


PRESS CONTACT

Peggy Reilly Tharp

Dudi Musler

Or-li Kasuto Madmon

VP, Global Investor Relations

Director, Investor Relations

Scherf Communications

+1-314-369-3883

+972-3-684-4448

+972-52-4447750


[email protected]


[email protected]


[email protected]

Cision View original content:http://www.prnewswire.com/news-releases/icl-announces-private-offering-of-additional-93-1-million-senior-notes-301185631.html

SOURCE ICL