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Mountain Province Diamonds Announces the Results of its Fourth Quarter Diamond Sales and the Recovery of an Exceptional Diamond

PR Newswire

TSX and OTCQX: MPVD

TORONTO and NEW YORK, Dec. 16, 2020 /PRNewswire/ – Mountain Province Diamonds Inc. (“Mountain Province”, or the “Company”) (TSX: MPVD) (OTCQX: MPVD) is pleased to announce the results of the fourth quarter (“Q4”) diamond sales.

During the quarter, 956,348 carats were sold for total proceeds of $80.2 million (US$61.7 million) resulting in an average value of $83.82 per carat (US$64.53 per carat). The Company was very encouraged that it saw continued price recovery during the quarter with most sales categories finishing above pre-COVID-19 values. The Company has now concluded its rough diamond sales for 2020.

The Company is also pleased to report the recovery and successful bid for the largest gem quality diamond recovered to date from the Gahcho Kué mine located in the Northwest Territories, Canada. The diamond (photo shown) is a 157.40 carat gem of exceptional quality and will be offered for sale during the first quarter of 2021.


Stuart Brown, the Company’s President and CEO, commented:

“The diamond industry has faced immense challenges during 2020 so to end the year with such a strong sales performance is very encouraging. Rough diamond prices, in the larger and better-qualities have been exceptional and pleasingly we saw further improvement in the smaller and lower quality diamonds which we believe will continue to strengthen in 2021. We look forward to building on this positive momentum in the New Year and put what has been a difficult 2020 behind us as the world starts the road to recovery from the COVID-19 pandemic.” 

“The recovery of the largest ever diamond and the successful bid was certainly a boost to the morale of the Company. It shows that the mine, although a high-volume producer of predominantly smaller diamonds, does produce diamonds of exceptional size and quality.”

****

About Mountain Province Diamonds Inc.

Mountain Province Diamonds is a 49% participant with De Beers Group in the Gahcho Kué diamond mine located in Canada’sNorthwest Territories. The Gahcho Kué Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future development. The Company also controls 106,202 hectares of highly prospective mineral claims and leases immediately adjacent to the Gahcho Kué Joint Venture property that include an indicated mineral resource at the Kelvin kimberlite and inferred mineral resources for the Faraday kimberlites.

For further information on Mountain Province Diamonds and to receive news releases by email, visit the Company’s website at www.mountainprovince.com.

Qualified Person

The disclosure in this news release of scientific and technical information regarding Mountain Province’s mineral properties has been reviewed and approved by Keyvan Salehi, P.Eng., MBA, and Tom E. McCandless, Ph.D., P.Geo., both Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.


Caution Regarding Forward Looking Information

This news release contains certain “forward-looking statements” and “forward-looking information” under applicable Canadian and United States securities laws concerning the business, operations and financial performance and condition of Mountain Province Diamonds Inc. Forward-looking statements and forward-looking information include, but are not limited to, statements with respect to estimated production and mine life of the project of Mountain Province; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; the future price of diamonds; the estimation of mineral reserves and resources; the ability to manage debt; capital expenditures; the ability to obtain permits for operations; liquidity; tax rates; and currency exchange rate fluctuations. Except for statements of historical fact relating to Mountain Province, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be”, “potential” and other similar words, or statements that certain events or conditions “may”, “should” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Mountain Province and there is no assurance they will prove to be correct.

Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include variations in ore grade or recovery rates, changes in market conditions, changes in project parameters, mine sequencing; production rates; cash flow; risks relating to the availability and timeliness of permitting and governmental approvals; supply of, and demand for, diamonds; fluctuating commodity prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.

These factors are discussed in greater detail in Mountain Province’s most recent Annual Information Form and in the most recent MD&A filed on SEDAR, which also provide additional general assumptions in connection with these statements. Mountain Province cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Mountain Province believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Although Mountain Province 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 anticipated, estimated or intended. 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.  Mountain Province undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered as the property is developed.

Further, Mountain Province may make changes to its business plans that could affect its results.  The principal assets of Mountain Province are administered pursuant to a joint venture under which Mountain Province is not the operator. Mountain Province is exposed to actions taken or omissions made by the operator within its prerogative and/or determinations made by the joint venture under its terms. Such actions or omissions may impact the future performance of Mountain Province. Under its current note and revolving credit facilities Mountain Province is subject to certain limitations on its ability to pay dividends on common stock. The declaration of dividends is at the discretion of Mountain Province’s Board of Directors, subject to the limitations under the Company’s debt facilities, and will depend on Mountain Province’s financial results, cash requirements, future prospects, and other factors deemed relevant by the Board.

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SOURCE Mountain Province Diamonds Inc.

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Virios Therapeutics Announces Pricing of Initial Public Offering

Virios Therapeutics Announces Pricing of Initial Public Offering

ATLANTA–(BUSINESS WIRE)–
Virios Therapeutics, Inc. (the “Company”), a biotechnology company focused on advancing novel antiviral therapies to treat diseases associated with a viral triggered abnormal immune response, today announced the pricing of its initial public offering of 3,000,000 shares of its common stock at a public offering price of $10.00 per share, for gross proceeds of $30 million, before deducting underwriting discounts, commissions and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 450,000 shares of common stock at the initial public offering price, less the underwriting discount, to cover over-allotments.

The shares are expected to begin trading on the Nasdaq Capital Market on December 17, 2020 under the ticker symbol “VIRI.” The offering is expected to close on December 21, 2020, subject to satisfaction of customary closing conditions.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-248447) relating to the shares was filed with the Securities and Exchange Commission (“SEC”) and became effective on December 16, 2020. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673, by email at [email protected].

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

About Virios Therapeutics

Virios Therapeutics is a development-stage biotechnology company focused on advancing novel antiviral therapies to treat diseases associated with a viral triggered abnormal immune response, such as fibromyalgia (“FM”). Overactive immune response related to activation of tissue resident Herpes Simplex Virus-1 (“HSV-1”) has been postulated to be a potential root cause of chronic illnesses such as FM, irritable bowel disease (“IBS”), chronic fatigue syndrome and functional somatic syndrome, all of which are characterized by a waxing and waning manifestation of disease. While not completely understood, there is general agreement in the medical community that activation of HSV-1 is triggered by some form of environmental and/or health stressor. Our lead development candidate (“IMC-1”), is a novel, proprietary, fixed dose combination of famciclovir and celecoxib. IMC-1 represents a novel combination antiviral therapy designed to synergistically suppress HSV-1 activation and replication, with the end goal of reducing viral mediated disease burden.

Forward Looking Statements

Statements in this press release contain “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Virios Therapeutics’ current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Lantern Pharma Inc. undertakes no duty to update such information except as required under applicable law.

Jenny Kobin

[email protected]

 

KEYWORDS: United States North America Georgia

INDUSTRY KEYWORDS: Medical Devices Health Infectious Diseases Hospitals Pharmaceutical Biotechnology

MEDIA:

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INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021

NEW YORK–(BUSINESS WIRE)–
The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Kandi Technologies Group, Inc. (“Kandi” or the “Company”) (NASDAQ: KNDI) securities during the period from March 15, 2019 through November 27, 2020 (the “Class Period”). Investors have until February 9, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

The complaint 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) Kandi artificially inflated its reported revenues through undisclosed related party transactions, or otherwise had relationships with key customers that indicated those customers did not have an arms-length relationship with Kandi; (ii) the majority of Kandi’s sales in the past year had been to undisclosed related parties and/or parties with such a close relationship and history with Kandi that it cast doubt on the arms-length nature of their relationship; (iii) all the foregoing, once revealed, was foreseeably likely to cast doubt on the validity of Kandi’s reported revenues and, in turn, have a foreseeable negative impact on the Company’s reputation and valuation; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On November 30, 2020, Hindenburg Research (“Hindenburg”) published a report entitled “Kandi: How This China-Based NASDAQ-Listed Company Used Fake Sales, EV Hype to Nab $160 Million From U.S. Investors.” Citing “extensive on-the-ground inspection at Kandi’s factories and customer locations in China, interviews with over a dozen former employees and business partners, and review of numerous litigation documents and international public records,” the Hindenburg report asserted that almost 64% of Kandi’s sales over the year have been to undisclosed related parties. The report also alleged that “[Kandi] has consistently booked revenue it cannot collect, a classic hallmark of fake revenue[.]” Following the publication of the Hindenburg report, Kandi’s stock price fell $3.86 per share, or 28.34%, to close at $9.76 per share on November 30, 2020.

If you acquired Kandi securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kirby McInerney LLP

Thomas W. Elrod, Esq., (212) 371-6600

[email protected]

www.kmllp.com

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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Starlight Capital Announces 2021 Cash Distributions for Listed ETFs

Starlight Capital Announces 2021 Cash Distributions for Listed ETFs

TORONTO–(BUSINESS WIRE)–
Starlight Investments Capital LP (“Starlight Capital”), announced today the 2021 monthly distributions for its exchange-traded funds (ETFs) – The Starlight Global Infrastructure Fund (NEO:SCGI.UN) and Starlight Global Real Estate Fund (NEO:SCGR.UN). Unitholders of record will receive cash “per-unit” distributions as per the below schedule:

Starlight Global

Infrastructure Fund

Distribution Rate

Starlight Global

Real Estate Fund

Distribution Rate

Ex-Div Date

Record Date

Payable Date

$0.0475

$0.0450

4/Jan/21

5/Jan/21

8/Jan/21

$0.0475

$0.0450

5/Feb/21

8/Feb/21

12/Feb/21

$0.0475

$0.0450

5/Mar/21

8/Mar/21

12/Mar/21

$0.0475

$0.0450

1/Apr/21

5/Apr/21

9/Apr/21

$0.0475

$0.0450

7/May/21

10/May/21

14/May/21

$0.0475

$0.0450

4/Jun/21

7/Jun/21

11/Jun/21

$0.0475

$0.0450

2/Jul/21

5/Jul/21

9/Jul/21

$0.0475

$0.0450

6/Aug/21

9/Aug/21

13/Aug/21

$0.0475

$0.0450

2/Sep/21

3/Sep/21

10/Sep/21

$0.0475

$0.0450

1/Oct/21

4/Oct/21

8/Oct/21

$0.0475

$0.0450

5/Nov/21

8/Nov/21

12/Nov/21

$0.0475

$0.0450

3/Dec/21

6/Dec/21

10/Dec/21

For eligible unitholders, a distribution reinvestment plan is available. Interested unitholders should contact their brokers and consult the full text of the plan. A copy of the plan is available on www.sedar.com or can be requested from our Advisor and Investor Experience Department (contact details below).

The tax composition of the ETFs’ distributions will be determined on an annual basis and will be available only after the ETF’s tax year-end.

About Starlight Global Infrastructure Fund

The fund’s investment objective is to provide regular current income by investing globally in companies with either direct or indirect exposure to infrastructure.

About Starlight Global Real Estate Fund

The fund’s investment objective is to provide regular current income by investing globally primarily in real estate investment trusts (REITs) and equity securities of corporations participating in the residential and commercial real estate sector.

About Starlight Capital and Starlight Investments

Starlight Capital is an independent asset management firm offering mutual funds, exchange-traded funds, private pools and structured products. Our goal is to deliver superior risk adjusted returns to investors through a disciplined investment approach, Focused Business Investing. Starlight Capital is a wholly owned subsidiary of Starlight Investments. Starlight Investments is a privately held, full service, real estate investment and asset management company. The firm manages over $20.0 billion of assets on behalf of institutional joint ventures as well as publicly listed REITs, closed end funds and investment funds and is driven by an experienced team of over 300 professionals. Please visit us at www.starlightcapital.com and connect with us on LinkedIn.

Marco Drumonde

Director, Advisor & Investor Experience

1-647-245-2045

[email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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Skillz Becomes First Publicly-Traded Mobile Esports Platform

Skillz Becomes First Publicly-Traded Mobile Esports Platform

The company starts trading tomorrow on the New York Stock Exchange under ticker “SKLZ”

Transaction includes $849 million in funding from investors Wellington, Fidelity, Franklin Templeton, and Neuberger Berman, among others

New capital to accelerate growth in rapidly expanding mobile gaming market

SAN FRANCISCO–(BUSINESS WIRE)–Skillz Inc. (“Skillz”), the leading mobile games platform connecting players in fair, fun, and meaningful competition, today became the first publicly-traded mobile esports platform, following the completion of its combination with special purpose acquisition company Flying Eagle Acquisition Corp. (NYSE: FEAC). The combined company is named Skillz Inc. and its common stock will begin trading tomorrow on the New York Stock Exchange under the ticker symbol “SKLZ”. With $250 million in cash and no debt on the balance sheet, Skillz is poised to capitalize on the massive growth expected in mobile gaming.

“We built Skillz on the founding belief that esports are for everyone, and have made significant progress toward our vision of enabling everyone to share in the future of competition,” said Andrew Paradise, CEO and founder of Skillz. “We stand at the intersection of mobile gaming and esports, perhaps the two most exciting growth opportunities of the next decade. I thank the entire Skillz team for their dedication, passion, and creativity, which have led us to this incredible moment on our journey to build the competition layer of the internet.”

With just a fraction of the world’s 2.7 billion gamers on its platform today, Skillz has a long runway for growth in building its service for the 10 million game developers globally. Skillz is uniquely positioned to capitalize on the rapidly expanding mobile gaming market, which is expected to more than double by 2025 to $150 billion. As Skillz moves beyond casual esports into new genres, adds new monetization models, and enters new geographies, the company’s addressable market will increase substantially. Going international is a significant opportunity for Skillz. The international market is four times larger than the North American market and represents less than 10% of Skillz revenue today.

Skillz has pioneered the future of the gaming industry, enabling developers to monetize their content five times better than ads or in-app purchases. The company’s platform enables game developers to expand the reach of their games and scale their businesses. Leveraging powerful network effects built out of the platform’s data science, Skillz drives more user engagement, higher conversion, and monetization. Core to the company’s proprietary advantages is patented anti-cheat and anti-fraud technology designed to ensure trust and fairness.

“I’ve had a front row seat to the video game and entertainment industry’s evolution over the past two decades, from my role as founding investor and board member of Bethesda Games to recently taking DraftKings public,” said Harry Sloan, Chairman of Flying Eagle. “We believe that Andrew has positioned Skillz to lead the convergence of mobile, gaming, and player enablement into the future of entertainment itself.”

This announcement comes on the heels of a year of continued success. Skillz saw consistent growth and further expanded collaborative efforts with game developers, major brands, influencers, and nonprofit organizations, such as the American Cancer Society, World Wildlife Fund, and the NAACP.

The transaction includes the $158.5 million PIPE investment led by Wellington Management Company, Fidelity Management & Research Company, LLC, Franklin Templeton, and Neuberger Berman. As previously announced, Skillz founders CEO Andrew Paradise and CRO Casey Chafkin will continue to lead the company. They will be supported by Skillz’s highly experienced team, including CTO Miriam Aguirre and CFO Scott Henry.

About Skillz Inc.

Skillz is the leading mobile games platform that connects players in fair, fun, and meaningful competition. The Skillz platform helps developers build multi-million dollar franchises by enabling social competition in their games. Leveraging its patented technology, Skillz hosts billions of casual esports tournaments for millions of mobile players worldwide, and distributes millions in prizes each month. Skillz has earned recognition as one of Fast Company’s Most Innovative Companies, CNBC’s Disruptor 50, Forbes’ Next Billion-Dollar Startups, and the #1 fastest-growing company in America on the Inc. 5000. www.skillz.com

About Flying Eagle Acquisition Corp.

Flying Eagle Acquisition Corp. is a $690 million special purpose acquisition company founded by Harry E. Sloan, Jeff Sagansky and Eli Baker for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Flying Eagle’s initial public offering was underwritten by Goldman Sachs & Co. LLC and Deutsche Bank Securities, and its common stock, units, and warrants began trading on the NYSE on March 6, 2020 under the ticker symbols FEAC, FEAC.U and FEAC WS, respectively. www.eagleequityptnrs.com

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The company’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside of the company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the company to grow and manage growth profitably, and retain its key employees; (2) costs related to the business combination; (3) the inability to maintain the listing of the company’s shares on the NYSE; (4) the company’s ability to execute its business plan and meet its projections; (5) the outcome of any legal proceedings that may be instituted against the company; (6) the impact of COVID-19 on the company’s business; (7) the company’s transition to becoming a public company including the associated expenses and the impact of public financial and other disclosures on its negotiations and arrangements with key counterparties; (8) changes in applicable laws or regulations; (9) general economic, business, and/or competitive factors; and (10) other risks and uncertainties indicated from time to time in the company’s other filings with the SEC, which are available on the SEC’s website at www.sec.gov. Additional information will be made available in other filings that the company makes from time to time with the SEC. In addition, any forward-looking statements contained in this press release are based on assumptions that the company believes to be reasonable as of this date. The company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

Source: Skillz Inc.

For Skillz PR: [email protected]

For Skillz IR: [email protected]

For Flying Eagle:

Jeff Pryor

[email protected]

+1 818-661-6368, ext. 4

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Sports Electronic Games Mobile Entertainment Entertainment General Sports

MEDIA:

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Johnson Outdoors Inc. Annual Shareholders Meeting

RACINE, Wisc., Dec. 16, 2020 (GLOBE NEWSWIRE) — Johnson Outdoors Inc. (Nasdaq: JOUT), a leading global innovator of outdoor recreation equipment and technology, will hold its Annual Shareholders meeting on Thursday, February 25, 2021, beginning at 10:00 a.m. Central Time. Due to public health concerns arising from the COVID-19 pandemic, the annual meeting will be a completely “virtual meeting.” Shareholders of record as of December 18, 2020, will be able to attend the annual meeting as well as vote and submit questions during the live webcast of the meeting by visiting www.virtualshareholdermeeting.com/JOUT2021 and entering the 16-digit control number included on their Notice of Annual Meeting or Proxy Card or the instructions that accompanied their proxy materials.

A live listen-only web cast of the Annual Meeting may also be accessed at Johnson Outdoors’ home page. A replay of the audio cast will be available for 30 days on the Internet.

Information pertinent to the items to be voted upon during the Company’s Annual Meeting will be available in the Proxy Statement mailed to shareholders of record on or about January 8, 2021, and filed with the Securities and Exchange Commission on the same date. The Company’s Annual Report and Proxy Statement will also be available on the Company’s website at www.johnsonoutdoors.com under Investors.


About Johnson Outdoors Inc.

J
OHNSON
O
UTDOORS is a leading global innovator of outdoor recreation equipment and technologies that inspire more people to experience the awe of the great outdoors. The company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft Recreation, Fishing, Diving and Camping.  Johnson Outdoors’ iconic brands include: Old Town® canoes and kayaks; Ocean Kayak™; Carlisle® paddles; Minn Kota® fishing motors, batteries and anchors; Cannon® downriggers; Humminbird® marine electronics and charts; SCUBAPRO® dive equipment; Jetboil® outdoor cooking systems; and, Eureka!®camping and hiking equipment. 

Visit Johnson Outdoors at

http://www.johnsonoutdoors.com

A
t
J
ohnson
O
utdoors
I
nc
. 		 
D
avid Johnson     		 Patricia Penman
VP & Chief Financial Officer     VP – Marketing Services & Global Communications
262-631-6600        262-631-6600


 



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Hormel Foods To Hold Virtual Annual Meeting of Stockholders

PR Newswire

AUSTIN, Minn., Dec. 16, 2020 /PRNewswire/ — Hormel Foods Corporation (NYSE: HRL), a global branded food company, announced it will hold its 2021 Annual Meeting of Stockholders virtually due to the COVID-19 pandemic. The live webcast of the meeting will be held at 6 p.m. CST on Tuesday, January 26, 2021 via www.virtualshareholdermeeting.com/HRL2021 and is open to all registered stockholders or beneficial owners of the company’s common stock at the close of business on November 27, 2020. Stockholders will not be able to physically attend the Annual Meeting.   

Stockholders will need the 16-digit control number found on the Notice of Internet Availability, the proxy card or on the instructions that accompany the proxy materials to participate in the Annual Meeting and vote shares electronically. If shares are held in the name of a bank, broker or other holder of record, stockholders should follow the instructions provided by the bank, broker or other holder of record to be able to participate in the meeting.

Following the business of the stockholder meeting, there will be a question and answer session. Stockholders may submit a question in advance of the meeting at www.proxyvote.com after logging in with the control number. Questions may be submitted during the Annual Meeting through www.virtualshareholdermeeting.com/HRL2021.

For those who want to attend who are not stockholders at the close of business on November 27, 2020, visit www.virtualshareholdermeeting.com/HRL2021 and register as a guest. Guests will not be able to vote or submit a question during the meeting.

Updates and further information will be available at https://investor.hormelfoods.com/ir-home/default.aspx

Due to COVID-19 restrictions, the company regrets to inform its stockholders that gift boxes will not be distributed in order to ensure the safety of Hormel Foods team members and stockholders.

ABOUT HORMEL FOODS — Inspired People. Inspired Food.™

Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenue across more than 80 countries worldwide. Its brands include SKIPPY®, SPAM®, Hormel® Natural Choice®, Applegate®, Justin’s®, Wholly®, Hormel® Black Label®, Columbus® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named on the “Global 2000 World’s Best Employers” list by Forbes magazine for three straight years, is one of Fortune magazine’s most admired companies, has appeared on Corporate Responsibility Magazine’s “The 100 Best Corporate Citizens” list for the 12th year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world’s most trusted and iconic brands to tables across the globe. For more information, visit www.hormelfoods.com

Contact: Media Relations
507-434-6352
[email protected]

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SOURCE Hormel Foods Corporation

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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Raytheon, Intercept Pharmaceuticals, Neovasc, and Interface and Encourages Investors to Contact the Firm

NEW YORK, Dec. 16, 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



Posted on

Investar Holding Corporation Declares Cash Dividend

BATON ROUGE, La., Dec. 16, 2020 (GLOBE NEWSWIRE) — Investar Holding Corporation (the “Company”) (NASDAQ:ISTR), the holding company for Investar Bank, National Association, declared a quarterly cash dividend of $0.065 per share to holders of Investar Holding Corporation common stock. The dividend is payable on January 31, 2021 to shareholders of record as of December 28, 2020. This is the 29th quarterly dividend paid by Investar Holding Corporation, which follows an uninterrupted 11 quarterly cash dividends paid by Investar Bank.

About Investar

Investar Holding Corporation, headquartered in Baton Rouge, Louisiana, provides full banking services, excluding trust services, through its wholly-owned banking subsidiary, Investar Bank, National Association (“Investar”). The Company had total assets of approximately $2.3 billion as of September 30, 2020. Investar currently operates 24 branches serving south Louisiana, 5 branches serving southeast Texas and 2 branches serving west Alabama.

Forward-Looking Statements

This press release may include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions about our business that are subject to a variety of risks and uncertainties that could cause the actual results to differ materially from those described in this press release. You should not rely on forward-looking statements as a prediction of future events. Additional information regarding factors that could cause actual results to differ materially from those discussed in any forward-looking statements are described in reports and registration statements we file with the SEC, including our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, copies of which are available on the Investar internet website http://www.InvestarBank.com.

We disclaim any obligation to update any forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based except as required by law.

Contact:

Investar Holding Corporation
Chris Hufft
Chief Financial Officer
(225) 227-2215
[email protected] 



Posted on

Globalive Technology Announces Definitive Arrangement Agreement with Yooma Corp. to Complete its Previously Announced Reverse Takeover Transaction

Globalive Technology today announced that it has signed a binding arrangement agreement to complete the previously announced reverse takeover transaction with Yooma Corp., an Asia-focused social commerce company.

TORONTO, Dec. 16, 2020 (GLOBE NEWSWIRE) — Globalive Technology Inc. (TSX-V: LIVE) (the “Company”), a technology company based in Toronto, Ontario, announced today that it has signed a binding arrangement agreement (the “Agreement”) with Yooma Corp. (“Yooma”) to complete its previously announced arm’s length reverse take-over of Yooma (the “Transaction”). The Transaction is to be completed by way of a court approved plan of arrangement under the Business Corporations Act (Ontario) with the common shares of the resulting issuer (the “Resulting Issuer”) continuing following the amalgamation of the Company and Yooma to be listed on the Canadian Securities Exchange (the “CSE”). The CSE has conditional approved the listing of the Resulting Issuer shares on completion of the Transaction subject to customary conditions.

The Transaction

Subject to regulatory and shareholder approval, and the satisfaction of other conditions precedent, the Transaction will involve: (i) the Company transferring all of its material assets and liabilities, other than cash required to remain in the Company by the Arrangement Agreement (the “Legacy Assets“), to a newly formed holding company (“SpinCo“) in consideration for non-voting common shares of SpinCo, (ii) the distribution by the Company of such non-voting common shares of SpinCo to its shareholders, which will entitle such shareholders to share pro rata in any net proceeds realized from the Legacy Assets; and (iii) the amalgamation of the Company and Yooma to form the Resulting Issuer.

Yooma shareholders will receive common shares of the Resulting Issuer (“Resulting Issuer Shares”) in exchange for their shares in Yooma. The number of Resulting Issuer Shares to be received by shareholders of Yooma and shareholders of the Company will be based on aggregate consideration of approximately US$25 million allocated to Yooma and the value of all assets remaining in the Company on closing (including cash and cash-equivalents), plus US$500,000 for the shareholders of the Company. The Company estimates that it will hold cash and cash equivalents of no less than US$4,500,000 by the closing date of the Transaction.

The Company and Yooma will rationalize their equity incentive plans, any equity incentives issued under such plans and all other outstanding convertible securities to create a post-Transaction equity incentive plan in the Resulting Issuer to properly incentivize management, directors, employees and consultants.

The completion of the Transaction is subject to certain conditions precedent including: (i) on or prior to closing, the Company delisting its shares from the TSX Venture Exchange (the “Exchange”) and the shares of the Resulting Issuer being listed on the CSE; (ii) approval from shareholders of both Yooma and the Company; (iii) receipt of any necessary Exchange and CSE, regulatory and third-party approvals or consents; (iv) no material adverse change in either the Company or Yooma between the date of the Agreement and the closing of the Transaction; (v) the Company holding cash and cash-equivalents of no less than US$4,500,000 on closing of the Transaction; and (vi) other conditions typical for a transaction of this nature.     

No insider of the Company, or any of their associates or affiliates, has any material interest, direct or indirect, in the Transaction other than: (i) in connection with the entitlement of such insiders who are shareholders of the Company to receive Resulting Issuer Shares on the same basis as other shareholders of the Company, (ii) Mr. Lacavera is expected to be a director of the Resulting Issuer, and (iii) a related party of the Company will own all of the voting common shares of SpinCo. No finder fee will be paid in connection with the Transaction.

Shareholder Meetings and Record Date

The Company and Yooma have each called special shareholder meetings to consider the Transaction and related matters on January 25, 2021. The Company has set December 21, 2020 as the record date for shareholders entitled to vote at the Company’s shareholder meeting.

The Company and Yooma have a hearing for an interim order scheduled for December 18, 2020, and intend to mail a joint management information circular (the “Circular”) to their shareholders later in December 2020.

To be effective, the Transaction will require the following approvals from shareholders of the Company and Yooma: (i) at least two-thirds (66 2/3%) of the votes cast by shareholders of the Company present in person or represented by proxy and entitled to vote at the Company’s shareholder meeting, (ii) a simple majority (>50%) of the votes cast by disinterested shareholders of the Company (within the meaning of Multilateral Instrument 61-101) present in person or represented by proxy and entitled to vote at the Company’s shareholder meeting, and (iii) at least two-thirds (66 2/3%) of the votes cast by shareholders of Yooma present in person or represented by proxy and entitled to vote at Yooma’s shareholder meeting.

Shareholders of the Company holding approximately 56% of the outstanding shares of the Company have agreed to vote in favour of the Transaction and related matters, and shareholders of Yooma holding approximately 76% of the outstanding shares of Yooma have agreed to vote in favour of the Transaction.

Board Recommendation

After careful consideration, the board of directors of the Company unanimously determined, after consultation with its legal advisors, that the Transaction is in the best interests of the Company and unanimously recommends that its shareholders vote for the Transaction at the upcoming special shareholders meeting. The recommendation of the Company’s Board is based on various factors that will be described more fully in the Circular.

Additional Information

A copy of the Agreement with more detailed information about the Transaction is available for review on the Company’s SEDAR page at www.sedar.com and a copy of the Circular will be mailed to shareholders of the Company and Yooma later in December and will be available for review on the Company’s SEDAR page later this month.

Investors are cautioned that, except as disclosed in the Circular, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.

Neither the Exchange nor the CSE has considered or made any determination on the merits of the proposed Transaction, nor has either approved or disapproved of the contents of this press release.

About Globalive Technology Inc.

Globalive Technology is a next generation software company and venture partner developing innovative solutions to disrupt traditional industries by leveraging artificial intelligence and machine learning technology stacks. Globalive Technology is controlled by Globalive Capital Inc., which has founded and co-founded 12 businesses over the past 20 years with six successful exits ranging from US$10M to US$1.3B. It has also made over 100 venture investments and has over 45 technology companies in its portfolio. For more information, visit www.globalivetech.com.

About Yooma Corp.

Through its wholly-owned subsidiary, EDA and EDA-owned entities based in China and Japan, Yooma intends to leverage the success and experience of its senior management to build Yooma’s business into one of Asia’s leading cannabinoid (CBD) products social commerce companies through the distribution and sale of CBD beauty and skincare products via a strategically curated network of sales channels. Yooma has assembled a strong international team of multicultural industry professionals with extensive experience in digital marketing, ecommerce and social media in the pan-Asian region with particular depth in the Chinese ecommerce market.

For media inquiries:

Rob Moysey
Communications Manager, Globalive
[email protected]

For investor inquiries:

Simon Lockie
Chief Corporate Officer
1-647-977-2727
[email protected] 

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements relating to the timing and completion of the proposed Transaction, the future operations of the Company and the Resulting Issuer, growth in hemp-derived products in Asia and Yooma’s ability to capitalize on such growth, and other statements that are not historical facts. Such forward-looking statements are often identified by terms such as “possible”, “if”, “will”, “subject to”, “believes”, “expected”, “intends”, “estimates”, “following”, “continuing to”, “anticipated” and similar expressions. All statements, other than statements of historical fact included in this release, including those noted above, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include
changes to Yooma or the Company’s business focus, strategic plan or capital requirements; changes in market, industry and regulatory conditions for Yooma or the Company; unexpected operating gains or losses in Yooma or the Company; a breakdown in the Company’s relationship with Yooma; the inability to satisfy the conditions precedent to complete the Transaction; the inability to obtain the necessary regulatory, shareholder and third-party approvals for the Transaction; competitors in the industry
and other risks as set out in the Company’s Filing Statement available on its SEDAR page at www.sedar.com
.

The reader is cautioned that assumptions used in the preparation of any forward-looking information 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 the Company. The Company cannot guarantee that any of the forward-looking statements contained in this press release will occur as disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information.

Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly the included forward-looking statements as expressly required by Canadian securities law.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company, Yooma, or the Resulting Issuer in either Canada or the United States. The securities of such entities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “

US Securities Act

”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.  

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

SOURCE Globalive Technology