Market Newsdesk

MOORESTOWN, N.J., Nov. 24, 2020 (GLOBE NEWSWIRE) — Tabula Rasa HealthCare, Inc. (“TRHC”) (NASDAQ: TRHC), a healthcare technology company advancing the field of medication safety, today announced a partnership between TRHC’s Capstone Performance Systems service line and the American Academy of Home Care Medicine (AAHCM). As part of the partnership agreement, AAHCM will offer the newest program product from Capstone, Clinical Documentation Excellence (CDE) Online Education, to AAHCM members at a discounted rate, and Capstone will participate in AAHCM’s Industry Relations Council (IRC).

“We are delighted to welcome Capstone to the IRC,” said Brent Feorene, Executive Director of AAHCM. “Capstone’s participation in the IRC furthers the Academy’s long-standing commitment to creating partnerships that ensure members have access to best-in-class tools, information, and the support they need.”

The CDE Online Education program provides expert training in clinical documentation for compliance and revenue optimization with the convenience of 24/7 access. More than ten hours of focused content such as risk adjustment methodology, the provider’s role in risk adjustment, and documenting specific conditions is included.

“We are excited to offer this new online education that instructs providers in accurate and concise documentation, an important component in risk-based contracting from both a compliance and revenue perspective,” stated George W. Brett, MD, Capstone’s Senior Vice President for Consulting Services and Chief Medical Officer.

The CDE Online Education curriculum was developed by risk adjustment experts for physicians and other clinicians who provide care in value-based settings, including Programs of All-inclusive Care for the Elderly (PACE), Medicare Advantage, Managed Medicare, and Accountable Care Organizations.

Capstone is a service of TRHC’s CareVention HealthCare division.

About Tabula Rasa HealthCare

Tabula Rasa HealthCare (TRHC) provides medication safety solutions empowering healthcare professionals to optimize medication regimens and reduce medication-related risk, specifically targeting adverse drug events. Utilizing its proprietary medication decision science technology, MedWise™, TRHC improves patient outcomes, reduces hospitalizations, and lowers healthcare costs. Additionally, TRHC provides an extensive clinical telepharmacy network across the U.S. Our solutions are trusted by health plans and pharmacies nationwide to help drive value-based payment results. For more information, visit TRHC.com.

About
CareVention
HealthCare

CareVention HealthCare offers comprehensive, integrated solutions and services for value-based care organizations, including for every stage of Programs of All-inclusive Care for the Elderly (PACE), from PACE exploration at the state and organizational levels through start-up and ongoing operations. Integrated end-to-end services assure regulatory compliance, participant health and safety, efficient workflows, and optimized financial management. For more information, visit CareVentionHC.com.

About Capstone Performance Systems

Capstone Performance Systems, a CareVention HealthCare company, provides clinical documentation training and Medicare risk adjustment services to value-based care organizations. Services including auditing and concurrent coding ensure compliance and optimal reimbursement. For more information, visit CapstonePerformanceSystems.com.

Forward-Looking Statements

This press release includes forward-looking statements that we believe to be reasonable as of today’s date, including statements regarding Medication Risk Mitigation technology. Such statements are identified by use of the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “should,” and similar expressions. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; increasing consolidation in the healthcare industry; managing our growth effectively; our ability to adequately protect our intellectual property; and the other risk factors set forth from time to time in our filings with the SEC, including those factors discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, filed with the SEC on March 2, 2020, and in subsequent reports filed with or furnished to the SEC, copies of which are available free of charge within the Investor Relations section of the TRHC website ir.trhc.com or upon request from our Investor Relations Department. Any forward-looking statement speaks only as of the date on which it was made. TRHC assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today’s date.

TRHC Media Contact

Dianne Semingson
[email protected]
T: (215) 870-0829

TRHC Investor Contact

Frank Sparacino
[email protected]
T: (866) 648-2767

NEWTON, Mass., Nov. 24, 2020 (GLOBE NEWSWIRE) — Allena Pharmaceuticals, Inc. (NASDAQ: ALNA), a late-stage, biopharmaceutical company dedicated to developing and commercializing first-in-class, oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders, today announced that Louis Brenner, M.D., Allena’s President and Chief Executive Officer, will participate in a virtual fireside chat at the Evercore ISI 3^rd Annual HealthCONx Conference on Thursday, December 3, 2020, at 1:25 p.m. ET.  

A live audio webcast of the presentation will be available under “Events and Presentations” in the Investors section of the Company’s website at www.allenapharma.com. A replay of the webcast will be available on the Allena website for 30 days following the presentation.

About Allena Pharmaceuticals

Allena Pharmaceuticals, Inc. is a late-stage biopharmaceutical company dedicated to developing and commercializing first-in-class, oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders. Allena’s lead product candidate, reloxaliase, is currently being evaluated in a pivotal Phase 3 clinical program for the treatment of enteric hyperoxaluria, a metabolic disorder characterized by markedly elevated urinary oxalate levels and commonly associated with kidney stones, chronic kidney disease and other serious kidney disorders. Allena is also developing ALLN-346, currently being evaluated in a Phase 1 clinical trial, for the treatment of hyperuricemia in the setting of gout and advanced chronic kidney disease.

Investor Contact

Hannah Deresiewicz
Stern Investor Relations, Inc.
212-362-1200
[email protected]

Media Contact

Adam Daley
Berry & Company Public Relations
212-253-8881
[email protected]

SAULT STE. MARIE, Ontario, Nov. 24, 2020 (GLOBE NEWSWIRE) — As businesses across Canada adapt to new COVID restrictions, a Northern-Ontario company has created an easy-to-use mobile tool to help organizations implement the necessary contact tracing and health screening protocols. Fully secure and using unique QR codes, saniTrakr is a versatile web-based app that allows organizations to manage both the health and contact information of any visitor whether an employee, client, participant or customer – prior to the point of entry.

Starting from $24.99 per month, saniTrakr offers health screening and contact tracing in one inclusive platform. With a built-in screening capability, organizations of any size can use saniTrakr to offer mobile health questionnaires pre-arrival. For businesses only requiring contact tracing, saniTrakr uses unique QR codes and any smart-phone device to obtain visitor contact information.  

Upon completion of a questionnaire or submission of contact information, all data is securely stored and can be accessed through an Online Management Console allowing an assigned administrator to track historical data and submit reports to local public health units.

Designed with the end user in mind, saniTrakr is customizable according to unique business or organizational needs.   “Each organization has its own requirements for capturing COVID-related information,” says saniTrakr co-founder, Robbie Saunders. “Whether it’s a manufacturer ensuring safety protocols are being met for employees, a medical office checking in patients, a sports organization or school taking attendance, or a restaurant welcoming guests, saniTrakr is a contactless solution for any organization or business, regardless of size. The customizable platform allows organizations to speed up their pre-screening process, eliminate paperwork and securely access records for future reference. It’s simple, efficient and affordable,” he says.

For more information and pricing, visit https://sanitrakr.com.

Media contact

:

Melanie Greco
Director of Marketing and Communications
[email protected]
647-456-2653

A video accompanying this announcement is available at 

https://www.globenewswire.com/NewsRoom/AttachmentNg/eec08629-66b6-4af6-9ed5-4816e07113bf

 

NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES

VANCOUVER, British Columbia, Nov. 24, 2020 (GLOBE NEWSWIRE) — CanWel Building Materials Group Ltd. (“CanWel” or the “Company”) (TSX:CWX) announced that The Toronto Stock Exchange (“TSX”) has accepted today CanWel’s notice of intention to proceed with a normal course issuer bid through the facilities of the TSX and other Canadian marketplaces and alternative trading systems.

CanWel intends to purchase for cancellation up to 5,972,461 of its common shares by way of a normal course issuer bid through the facilities of the TSX and other Canadian marketplaces and alternative trading systems. The 5,972,461 common shares represent approximately 10% of the public float per TSX policies. Pursuant to such TSX policies, daily purchases made by CanWel will not exceed 54,185 common shares or 25% of the average daily trading volume of 216,740 common shares on the TSX during the prior six full months of trading, subject to certain prescribed exceptions. As of November 24, 2020, there were 77,935,719 issued and outstanding common shares of CanWel.

Although CanWel intends to purchase common shares for cancellation under its normal course issuer bid, there can be no assurances that any such purchases will be completed. Such purchases, if any, may commence on November 26, 2020 and will terminate on November 25, 2021, or on such earlier date as CanWel may complete its purchases pursuant to the notice of intention filed today with the TSX or provide notice of termination. Any such purchases will be made by CanWel at the prevailing market price at the time of acquisition and through the facilities of the TSX and other Canadian marketplaces and alternative trading systems.

CanWel believes that the market price of the common shares may, at certain times throughout the duration of the normal course issuer bid, be undervalued based solely on CanWel’s opinion.

To the best of the knowledge of the directors and senior officers of CanWel, no director, senior officer, associate of a director or senior officer, or person holding 10% or more of the common shares of CanWel intends at present to sell common shares during the course of this bid. However, sales by such persons through the facilities of the TSX or elsewhere may occur as the personal circumstances or decisions of any such person, unrelated to the bid, determine. The benefits to any such person whose common shares are purchased would be the same as the benefits available to all other holders whose common shares are purchased.

The Company also announced approval from the TSX for an Automatic Share Purchase Plan (“Plan”) commencing on November 26, 2020, which will enable the Company to continue purchasing common shares under the normal course issuer bid during Company-imposed blackout periods. Purchases will be made on the TSX as well as other Canadian marketplaces.

The Plan will co-terminate with the expiry of the NCIB at the close of business on, November 25, 2021, and, subject to pre-determined pricing and volume restrictions imposed by the Company, to the rules and policies of the TSX and to the specific terms of the NCIB, all trades under the Plan are entirely at the broker’s discretion.

The Company did not acquire any common shares pursuant to the normal course issuer bid that commenced on November 26, 2019 (the “2019 NCIB”). Under the 2019 NCIB, the TSX had approved the purchase of up to 5,995,340 common shares.

About CanWel

Founded in 1989, CanWel is headquartered in Vancouver, British Columbia and trades on the TSX under the symbol CWX and is Canada’s only fully integrated national distributor in the building materials and related products sector. CanWel operates: multiple treating plant and planing facilities in Canada and the United States; distribution centres coast-to-coast in all major cities and strategic locations across Canada; in the United States near Portland, Oregon, San Francisco and Los Angeles, California and in 15 locations in the State of Hawaii through its wholly owned Honsador Building Products Group. CanWel distributes a wide range of building materials, lumber, renovation and electrical products. In addition, through its CanWel Fibre division, CanWel operates a vertically integrated forest products company based in Western Canada, operating from British Columbia to Saskatchewan, also servicing the US Pacific Northwest. CanWel owns approximately 117,000 acres of private timberlands, strategic Crown licenses and tenures, log harvesting and trucking operations, several post and pole peeling facilities and two pressure-treated specialty wood production plants and a specialty saw mill.  

For further information regarding CanWel please contact:

Ali Mahdavi
Investor Relations
416-962-3300
[email protected]

Certain statements in this press release may constitute “forward-looking” statements. When used in this press release, forward-looking statements often but not always, can be identified by the use of forward-looking words such as, including but not limited to, “may”, “will”, “would”, “should”, “expect”, “believe”, “plan”, “intend”, “anticipate”, “predict”, “remain”, “estimate”, “potential”, “forecast”, “budget”, “schedule”, “continue”, “could”, “might”, “project”, “targeting”, “future” and other similar terminology or the negative or inverse of such words or terminology. Forward-looking information in this news release includes, without limitation, statements with respect to: the ultimate impact (express or implied) of the novel coronavirus COVID-19 (“COVID-19”) pandemic on the Company’s operational and financial results, including but not limited to the third quarter and full-year 2020 results; which impact is difficult to estimate or quantify as it will depend on inter alia the duration of the contagion, the impact of government policies, and the pace of economic recovery. These forward-looking statements reflect the current expectations of CanWel’s management regarding future events and operating performance, but involve other known and unknown or unpredictable risks, uncertainties and other factors which may cause the actual results, performance or achievements of CanWel, including but not limited to sales, earnings, cash flow from operations, EBITDA(1) generated, dividends generated or paid by CanWel, , including whether at the rate as of the date hereof or the future rate discussed in the Company’s press release dated June 15, 2020, or some other dividend rate in the future which may be lower than either of the preceding rates discussed therein or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements should therefore be construed in the light of such factors. Actual events could differ materially from those projected herein and depend on a number of factors. These factors include but are not limited to: (i) fluctuations in the market price of CanWel’s common shares from time to time; (ii) the availability of funding under CanWel’s existing senior credit facility to finance acquisitions of common shares of CanWel; (iii) the risk that CanWel will not be able to (a) operate the truss design and manufacturing business of Island Truss Holdings, LLC (the Acquisition”) or integrate the Acquisition into its operations successfully, or without negative impact on its business, or without requiring spending significant or unexpected amounts of time, money or other resources thereon, or at all, thereby impacting CanWel’s ability to make purchases under the normal course issuer bid; may not be able to satisfy conditions to the Acquisition on the expected terms and schedule; (b) the risk that cost savings and synergies expected to result from the Acquisition may not be fully realized or may take longer to realize than expected; (c) the risk that the existing and acquired business from the Acquisition will not be integrated successfully or that there is an unexpected disruption from, or reaction to, the Acquisition making it more difficult to maintain relationships with customers, employees or suppliers; (iv) the risk that CanWel may not be able to operate the lumber marketing and distribution business Lignum Forest Products LLP (the “Lignum Acquisition”) or integrate the Lignum Acquisition into its operations successfully, or without negative impact on its business, or without requiring spending significant or unexpected amounts of time, money or other resources thereon, or at all; may not be able to satisfy conditions to the Lignum Acquisition on the expected terms and schedule; (v) the risk that cost savings and synergies expected to result from the Lignum Acquisition may not be fully realized or may take longer to realize than expected; (vi) the risk that the existing and acquired business from the Lignum Acquisition will not be integrated successfully or that there is an unexpected disruption from, or reaction to, the Lignum Acquisition making it more difficult to maintain relationships with customers, employees or suppliers; (vii) the risk that CanWel may not be able to operate the lumber pressure treating plant and related equipment and business formerly owned by Western Wood Treating, Inc. (the “Plant”) or integrate the Plant into its operations successfully, or without negative impact on its business, or without requiring spending significant or unexpected amounts of time, money or other resources thereon, or at all; (viii) the risk that CanWel may not be able to obtain the final permits and operational authority to operate the Plant, or on terms and conditions or at a cost satisfactory to it, or at all; (ix) the risk that the construction and completion of CanWel’s plant in Oregon (originally announced in quarter 2, 2018 (the “Oregon Plant”)) originally expected to be in Q4 2018, may not be able to be completed or operated within expected timelines or costs, or on other terms, conditions or costs satisfactory to it, or at all; (x) the risk that CanWel may not be able to obtain the final permits and operational authority to operate the Oregon Plant on the terms and conditions satisfactory to it, or at all, or at a cost satisfactory to it; (xi) the acquisition of Honsador Acquisition Corp. (collectively with the Acquisition, Lignum Acquisition, the Plant and the Oregon Plant, the “Acquisitions”) may result in significant challenges, and management of CanWel may be unable to accomplish the integration of the Acquisitions smoothly or successfully or without spending significant or unexpected amounts of time, money or other resources thereon; (xii) the risk that any inability of management to successfully integrate the operations of the combined businesses or combined business discussed above, including, but not limited to, operational, information technology, financial reporting systems or environmental matters, any of which could have a material adverse effect on the business, financial condition and results of operations of CanWel, thereby impacting CanWel’s ability to make purchases under the normal course issuer bid; (xiii) the risk that revenues, profits and margins of CanWel may not remain consistent with historical levels or be as expected, thereby impacting CanWel’s ability to make purchases under the normal course issuer bid; (xiv) the risk that competing firms which manufacture or distribute competitive product lines will aggressively defend or seek market share, or that potential customers of the Oregon Plant and existing customers or suppliers of the Plant or Honsador, (some of whom are competitors of CanWel) will change, reduce or cease doing business with CanWel, in each case reducing, eliminating or reversing any potential positive economic impact on CanWel of the Acquisitions, and thereby impacting CanWel’s ability to make purchases under the normal course issuer bid; (xv) the risk that any cost savings, synergies, increased sales, margin, profit or distributable cash resulting or expected from the Acquisitions may not be fully realized, realized at all or may take longer to realize than expected, thereby impacting CanWel’s ability to make purchases under the normal course issuer bid; (xvi) the risk of disruption from the introduction, implementation and/or integration of the Acquisitions making it more difficult to maintain relationships with customers, employees or suppliers, thereby impacting CanWel’s ability to make purchases under the normal course issuer bid; (xvii) risks related to the operation of pressure treatment facilities, including but not limited to environmental and remediation risks, labour risks, risks related to maintenance capital expenditures for manufacturing and processing facilities and risks related to capital expenditures for environmental risks; (xviii) additional risks and uncertainties affecting the Company, any of which may impact upon, among other things, the number of common shares, if any, to be acquired by CanWel pursuant to the above notice of intention including among others, regulatory and legal risk, increased debt and interest costs, general economic and business conditions, product selling and prices, product performance, consumer preferences, litigation risk, design and liability risk, environmental risks, remediation risks, software and software design risk, commodity price fluctuations, information systems risk, interest rate changes, operating costs, political or economic instability in local or national markets, chemical or commodity prices, exchange rate risks for product inputs, tariffs and tax risks and general competitive conditions; (xiv) the potential inability of CanWel to complete the formal documentation and satisfy the other conditions required to complete the Oregon Plant; and (xv) other statements other than historical facts. As indicated above, completion of the transactions described herein are subject to various conditions, including (among others) obtaining related necessary governmental operating and regulatory permits and approvals. Although CanWel believes that the expectations and the conditions reflected in such forward-looking statements are reasonable, CanWel can give no assurance that each of these conditions will be satisfied to the satisfaction of CanWel or that expectations will prove to be correct. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future.   There are a number of additional risks and uncertainties affecting or that could affect CanWel, which could cause actual results and developments to differ materially from those described in, expressed or implied by these forward- looking statements, include, among others: regulatory and legal risk, increased debt and interest costs, general economic and business conditions, product selling and prices, product performance, consumer preferences, design and liability risk, environmental risks, remediation risks, software and software design risk, commodity price fluctuations, information systems risk, cybersecurity risks, interest rate changes, operating costs, political or economic instability in local or national markets, chemical or commodity prices, exchange rate risks for product inputs, tariffs and tax risks and general competitive conditions. Factors also include, but are not limited to, dependence on market and economic conditions, sales and margin risk, competition, information system risks, cybersecurity risks, availability of supply of products, risks associated with the introduction of new product lines, product design risk, product liability risks, environmental risks, regulatory risk, trade and tariff risks, differing law or regulations across jurisdictions, volatility of commodity prices, inventory risks, resource industry risks, resource extraction risks, risks relating to remote operations, forestry management and silviculture risks, fire, flood and natural disaster risks, customer and vendor risks, contract performance risks, acquisition and integration risks, availability of credit, credit risks, performance bond risks, litigation risks and interest rate risks. A further description of these additional factors and other risks which could cause results to differ materially from those described in these forward-looking statements can be found in the periodic and other reports filed by CanWel with Canadian securities commissions and available on SEDAR (http://www.sedar.com). In addition, a number of material factors or assumptions were utilized or applied in making the forward-looking statements, and may include, but are not limited to, assumptions regarding the performance of the Canadian and U.S. economies, the relative stability of or level of interest rates, exchange rates, volatility of commodity prices, availability or more limited availability of access to equity and debt capital markets to fund, at acceptable costs, CanWel’s future growth plans, the implementation and success of the integration of the Acquisitions, the ability of CanWel to refinance its debts as they mature, the Canadian and United States housing and building materials markets; the direct and indirect effect of the U.S. housing market and economy; exchange rate fluctuations between the Canadian and US dollar; retention of key personnel; CanWel’s ability to sustain its level of sales and earnings margins; CanWel’s ability to grow its business long term and to manage its growth; CanWel’s management information systems upon which it is dependent are not impaired or compromised by breaches of CanWel’s cybersecurity; CanWel’s insurance is sufficient to cover losses that may occur as a result of its operations international trade and tariff risks, political risks, the amount of CanWel’s cash flow from operations; tax laws; and the extent of CanWel’s future acquisitions and capital spending requirements or planning as well as the general level of economic activity, in Canada and the US, and abroad, discretionary spending, and unemployment levels; the effect of general economic conditions, including market demand for CanWel’s products, and prices for such products; the effect of forestry, land use, environmental and other governmental regulations; and the risk of losses from fires, floods and other natural disasters and unemployment levels. There is a risk that some or all of these assumptions may prove to be incorrect. These and other factors could cause or contribute to actual results differing materially from those contemplated by forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information. There are numerous risks associated with an investment in CanWel’s common shares or senior unsecured notes, which are also further described in the “Risk Factors” sections of CanWel’s annual information form dated March 31, 2020 as well as its other public filings on SEDAR. These forward-looking statements speak only as of the date of this press release. We caution that the foregoing factors that may affect future results are not exhaustive. When relying on our forward-looking statements to make decisions with respect to CanWel, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

Neither CanWel nor any of its associates or directors, officers, partners, affiliates, or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in these communications will actually occur. You are cautioned not to place undue reliance on these forward-looking statements. Except as required by applicable securities laws and legal or regulatory obligations, CanWel is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

(1)    In the discussion, reference is made to EBITDA, which represents earnings from continuing operations before interest, including amortization of deferred financing costs, provision for income taxes, depreciation and amortization. This is not a generally accepted earnings measure under IFRS and does not have a standardized meaning under IFRS, and therefore the measure as calculated by CanWel may not be comparable to similarly- titled measures reported by other companies. EBITDA is presented as we believe it is a useful indicator of a company’s ability to meet debt service and capital expenditure requirements and because we interpret trends in EBITDA as an indicator of relative operating performance. EBITDA should not be considered by an investor as an alternative to net earnings or cash flows as determined in accordance with IFRS. For a reconciliation of EBITDA to the most directly comparable measures calculated in accordance with IFRS refer to “Reconciliation of Net Earnings to Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) and Adjusted EBITDA⁽²⁾”.

(2)   In the discussion, reference is made to Adjusted EBITDA, which is EBITDA as defined above, before certain non-recurring or unusual items. This is not a generally accepted earnings measure under IFRS and does not have a standardized meaning under IFRS, The measure as calculated by CanWel may not be comparable to similarly-titled measures reported by other companies. Adjusted EBITDA is presented as we believe it is a useful indicator of CanWel’s ability to meet debt service and capital expenditure requirements from its regular business, before non-recurring items. Adjusted EBITDA should not be considered by an investor as an alternative to net earnings or cash flows as determined in accordance with IFRS. For a reconciliation from Adjusted EBITDA to the most directly comparable measures calculated in accordance with IFRS refer to “Reconciliation of Net Earnings to Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) and Adjusted EBITDA”.

WORCESTER, Mass., Nov. 24, 2020 (GLOBE NEWSWIRE) — Mustang Bio, Inc. (“Mustang”) (NASDAQ: MBIO), a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases, today announced that the European Commission (“EC”) issued a positive opinion on its application for Orphan Drug Designation for Mustang’s lentiviral gene therapy for the treatment of X-linked severe combined immunodeficiency (“XSCID”), also known as bubble boy disease. The Designation applies both to MB-107 for the treatment of newly diagnosed infants between two months and two years of age and to MB-207 for the treatment of patients who have been previously treated with hematopoietic stem cell transplantation (“HSCT”) and for whom re-treatment is indicated. The European Medicines Agency (“EMA”) previously granted Advanced Therapy Medicinal Product classification to MB-107 in April 2020. The U.S. Food and Drug Administration (“FDA”) also previously granted Rare Pediatric Disease and Orphan Drug Designations to MB-107 and MB-207, as well as Regenerative Medicine Advanced Therapy Designation to MB-107.

Orphan Drug Designation in the European Union (“EU”) is granted by the European Commission based on a positive opinion issued by the European Medicines Agency Committee for Orphan Medicinal Products (EMA COMP). To qualify, an investigational medicine must be intended to treat a seriously debilitating or life-threatening condition that affects fewer than five in 10,000 people in the EU, and there must be sufficient non-clinical or clinical data to suggest the investigational medicine may produce clinically relevant outcomes. EMA Orphan Drug Designation provides companies with certain benefits and incentives, including protocol assistance, differentiated evaluation procedures for Health Technology Assessments in certain countries, access to a centralized marketing authorization procedure valid in all EU member states, reduced regulatory fees and 10 years of market exclusivity.

Manuel Litchman, M.D., President and Chief Executive Officer of Mustang, said, “We are very pleased to receive a positive opinion from the EC on Orphan Drug Designation for our lentiviral gene therapy for XSCID. It is an important milestone for Mustang as we approach the initiation of our pivotal MB-107 and MB-207 clinical trials, which we anticipate will support regulatory filings in both the U.S. and EU. We look forward to working closely with the EMA as we continue our progress to make MB-107 and MB-207 available for patients suffering with XSCID.”

MB-107 is currently being assessed in a Phase 1/2 clinical trial for XSCID in newly diagnosed infants under the age of two at St. Jude Children’s Research Hospital (“St. Jude”), UCSF Benioff Children’s Hospital in San Francisco and Seattle Children’s Hospital. Mustang submitted an investigational new drug application (“IND”) to the FDA to initiate a pivotal multi-center Phase 2 clinical trial of MB-107 in this same patient population. The trial is expected to enroll 10 patients who, together with 15 patients enrolled in the current multi-center trial led by St. Jude, will be compared with 25 matched historical control patients who have undergone HSCT. The primary efficacy endpoint will be event-free survival. The initiation of this trial is expected soon. Mustang is targeting topline data from this trial in the second half of 2022.

Earlier this month, Mustang signed an agreement with Minaris Regenerative Medicine GmbH (“Minaris”), a leading contract development and manufacturing service provider for the cell and gene therapy industry, to enable technology transfer and GMP clinical manufacturing of Mustang’s MB-107 lentiviral gene therapy program for the treatment of XSCID in newly diagnosed infants in Europe. Under the terms of the agreement, Minaris will perform technology transfer of the manufacturing and analytical processes, as well as their adoption to the European regulatory environment, for the GMP-compliant manufacturing of the drug product at its site in Ottobrunn, Germany, with the goal of supplying clinical trials in Europe.

MB-207 is currently being assessed in a Phase 1/2 clinical trial at the National Institute of Allergy and Infectious Diseases for XSCID patients who have been previously treated with HSCT and for whom re-treatment is indicated. Mustang expects to file an IND with the FDA to initiate a pivotal multi-center pivotal Phase 2 clinical trial of MB-207 in this same patient population in the first quarter of 2021 and is targeting topline data from this trial in the second half of 2022.

About X-linked Severe Combined Immunodeficiency (“XSCID”)

X-linked severe combined immunodeficiency is a rare genetic disorder that occurs in approximately 1 per 225,000 births. It is characterized by the absence or lack of function of key immune cells, resulting in a severely compromised immune system and death by one year of age if untreated. Patients with XSCID have no T-cells or natural killer cells. Although their B-cells are normal in number, they are not functional. As a result, XSCID patients are usually affected by severe bacterial, viral or fungal infections early in life and often present with interstitial lung disease, chronic diarrhea and failure to thrive.

The specific genetic disorder that causes XSCID is a mutation in the gene coding for the common gamma chain (“γc”), a protein that is shared by the receptors for at least six interleukins. These interleukins and their receptors are critical for the development and differentiation of immune cells. The gene coding for γc is known as IL-2 receptor gamma, or IL2RG. Because IL2RG is located on the X-chromosome, XSCID is inherited in an X-linked recessive pattern, resulting in almost all patients being male.

About Mustang Bio

Mustang Bio, Inc. is a clinical-stage biopharmaceutical company focused on translating today’s medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors and rare genetic diseases. Mustang aims to acquire rights to these technologies by licensing or otherwise acquiring an ownership interest, to fund research and development, and to outlicense or bring the technologies to market. Mustang has partnered with top medical institutions to advance the development of CAR T therapies across multiple cancers, as well as a lentiviral gene therapy for XSCID. Mustang is registered under the Securities Exchange Act of 1934, as amended, and files periodic reports with the U.S. Securities and Exchange Commission (“SEC”). Mustang was founded by Fortress Biotech, Inc. (NASDAQ: FBIO). For more information, visit www.mustangbio.com.

Forward‐Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: risks relating to our growth strategy; our ability to obtain, perform under, and maintain financing and strategic agreements and relationships; risks relating to the results of research and development activities; risks relating to the timing of starting and completing clinical trials; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Company Contacts:

Jaclyn Jaffe and William Begien
Mustang Bio, Inc.
(781) 652-4500
[email protected]

Investor Relations Contact:

Daniel Ferry
LifeSci Advisors, LLC
(617) 430-7576
[email protected]

Media Relations Contact:

Tony Plohoros
6 Degrees
(908) 591-2839
[email protected]

VANCOUVER, British Columbia, Nov. 24, 2020 (GLOBE NEWSWIRE) — RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt:IJA2) (the “Company”) is pleased to announce that RevoluPAY EP S.L. has signed a Definitive Agreement (“DA”) with Thunes on November 23^rd, 2020. The DA, approved between RevoluPAY CEO Alfredo Manresa and Adrien Antoni, Director of Thunes, permits, with immediate effect, RevoluPAY® family remittances at over 9,000 collection partner agencies offered by www.thunes.com in +100 countries. The parties have agreed upon delivery commissions payable to Thunes, independent of the amount sent and per individual beneficiary delivery and origination via RevoluPAY.

The Scope of The Thunes Accord

Today’s agreement with Thunes expands the reach of the Company’s remittance vertical RevoluSEND into supplementary countries, adding 38 nations previously unavailable, most notably crucial high volume remittance markets (Denoted Bold). The addition of Brazil, Chile, and Haiti in South America. Asia Pacific & South Pacific regions include Australia, Bangladesh, Cambodia, China, Fiji, Hong Kong, India, Indonesia, Malaysia, Mongolia, Myanmar, Nepal, Pakistan, Philippines, Samoa, Singapore, South Korea, Sri Lanka, Thailand, Tonga, and Vietnam. Countries on the African continent also experience an increase with the addition of Benin, Botswana, Burundi, Chad, Congo, Ethiopia, Gabon, Guinea-Bissau, Malawi, Mauritania, Niger, Somalia, Togo, and Zimbabwe. While already featured on RevoluSEND through alternative remittance partnerships, the remaining countries included within the Thunes agreement will experience an increase in remittance collection points, allied to additional national and provincial remittance delivery coverage.

In 2019, in USD, the top four remittance recipient countries were India (83.1 billion), China (68.4 billion), Mexico (38.5 billion), and the Philippines (35.2 billion). Additionally, today’s inclusion of China further permits the Company to ultimately pursue the Chinese Payment Processor Definitive Agreement (“DA”) disclosed in the 19^th June 2018 news release.

About Thunes

Thunes harnesses technology permitting real‑time cross‑border payments connecting a digital payment network enabling the seamless movement of funds across borders. A single connection with Thunes grants an impressive reach into new markets and multiple disbursement options in more than 100 countries.

United States
MSB
License Update

Further to the news release dated 10^th March 2020, the Company has opted to discontinue the Coello & Coello affiliation. Consequently, with minor assistance from the Soft Landing Global consultancy firm, the Company has begun the petition for said US MSB licenses on the 3^rd of November 2020. Management has accrued adequate knowledge to undertake most of the task internally, with minimal external assistance. Shareholders are reminded that corporate executives based at the wholly-owned subsidiary RevoluGROUP USA Inc. are now adequately positioned to expedite this task, which was not the case in March 2020. The updated chronology includes simultaneous application of the Florida and Washington licenses, as well as the twenty-seven (27) state licenses petitioned through the National Multistate Licensing System & Registry’s (NMLS) Multistate Money Services Businesses Licensing Agreement (MMLA) Program. Staff at RevoluGROUP USA Inc. expect to provide management with weekly updates to keep shareholders informed of the United States MSB license petition’s progress. It is anticipated that the state MSB licenses should be granted before year-end.

Canadian
FINTRAC
License

Further to the news release dated 23^rd October 2020, on 18^th November 2020, the Vancouver, BC Law firm Tupper, Jonsson & Yeadon successfully submitted the completed registration to the Financial Transactions and Reports Analysis Centre of Canada. The Company is now awaiting the statutory, up to 14-day, license petition reply.

European SEPA Countries for RevoluSEND

Further to the news release dated 19^th October 2020, the Company expects to include 66 additional countries and territories into the RevoluSEND remittance vertical by the first week of December 2020. These include Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Great Britain, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Albania, Azerbaijan, East Timor, El Salvador, Georgia, Israel, Kazakhstan, Kosovo, Kuwait, Macedonia, Montenegro, Palestine, São Tomé & Príncipe, Saudi Arabia, Andorra, Bahrain, Belarus, Bosnia & Herzegovina, British Virgin Islands, Cyprus, Gibraltar, Iraq, Jordan, Lebanon, Luxembourg, Malta, Mauritius, Moldova, Monaco, Pakistan, Qatar, Saint Lucia, San Marino, Serbia, Seychelles, Switzerland, Turkey, Ukraine, United Arab Emirates.

Consequently, the Company envisages that by the end of 2020, RevoluSEND should have expanded its remittance delivery reach to over 130 countries and territories.

Links Used in This News Release

Thunes Corporate Website https://www.thunes.com/
RevoluSEND https://revolusend.com/
E.U. Migration Hotspots https://shortly.cc/9t9yq
India Remittances https://shortly.cc/YU5LV
Philippines Remittances https://shortly.cc/NuGSJ
Top Four Remittance Countries https://shortly.cc/QclJi

A
bout RevoluPAY®

The Company’s flagship technology is RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector-specific technology of which the resulting source code is the property of the Company. RevoluPAY built-in features include Remittance Payments, Retail and Hospitality payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, Leisure payments, Travel Payments, etc. RevoluPAY is powered by blockchain protocols and is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY S.L located in Barcelona. RevoluPAY S.L is the self-licensed European PSD2 payment institution 6900 under the auspices of E.U. Directive 2015/2366 and EU Passporting. RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.

About
RevoluGROUP Canada Inc.
:

RevoluGROUP Canada Inc. is a multi-asset, multidivisional publicly traded Canadian Company deploying advanced technologies in the; Banking, Mobile Apps, Money Remittance, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Online Travel, Vacation Resort, Blockchain Systems, and Fintech app sectors. Click here to read more.

For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company’s website at www.RevoluGROUP.com. The Company has approximately 166,414,015 shares issued and outstanding.

RevoluGROUP Canada
,
Inc.

“
Steve Marshall
“

______________________
STEVE MARSHALL
CEO

For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Facsimile: (604) 687 3119
Email: [email protected]

NEITHER THE 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.

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.