Market Newsdesk

VANCOUVER, BC, Nov. 13, 2020 /PRNewswire/ – Maverix Metals Inc. (“Maverix” or the “Company”) (NYSE American: MMX) (TSX: MMX) is pleased to announce its operating and financial results for the third quarter ended September 30, 2020.

All amounts are in U.S. dollars unless otherwise indicated.

Third Quarter 2020 Highlights

• Record revenue of $14.9 million;
• Record cash flow from operating activities, excluding changes in non-cash working capital, of $10.8 million¹;
• Record total attributable gold equivalent ounces sold of 7,797¹;
• Average cash cost per attributable gold equivalent ounce sold of $195, resulting in a cash operating margin of 90% or $1,710 per ounce¹;
• Record net income of $14.4 million and adjusted net income of $5.3 million¹;
• Announced the acquisition of a portfolio of 11 gold royalties from Newmont Corporation (“Newmont”) for upfront consideration of $75 million and potential future contingent payments of up to a maximum of $15 million; and
• Repaid $41 million of the outstanding balance on Maverix’s revolving credit facility.

Dan O’Flaherty, CEO of Maverix, commented, “Our stellar third quarter results once again demonstrate the quality and diversification of our royalty and stream portfolio. We are also excited to have recently completed the accretive acquisition of a second royalty portfolio from our largest shareholder, Newmont, which further enhances our portfolio.”

Summary of Quarterly Results

For complete details please refer to the Condensed Consolidated Interim Financial Statements and associated Management Discussion and Analysis for the quarter ended September 30, 2020, available on SEDAR (www.sedar.com), EDGAR (www.sec.gov) or on Maverix’s website (www.maverixmetals.com).

Maverix reestablishes guidance and now expects attributable gold equivalent ounces of 26,000 to 27,000 for the year ending December 31, 2020, with approximately 99% of expected revenue derived from gold and silver at a cash operating margin of approximately 90%.

To listen to Maverix’s President, Ryan McIntyre, discuss the record-setting third quarter results please use this link:
MMX Q3 2020 Results 

Asset Portfolio Updates

Morondo (2% NSR Royalty)

On October 26^th, Montage Gold Corp. (“Montage”) announced that, following the successful completion of its C$30 million initial public offering in late October, it commenced an aggressive 50,000 metre resource expansion drill program at its Morondo project in Côte d’Ivoire. Montage expects to release an updated inferred mineral resource and complete a PEA in the first quarter of 2021.

For more information, please refer to www.montagegoldcorp.com and see the news release dated October 26, 2020.

Mother Lode (1% – 2% NSR Royalty)

On October 7^th, Corvus Gold Inc. (“Corvus”) announced the results of a Preliminary Economic Assessment (“PEA”) for its Mother Lode project in southwest Nevada. The results indicate robust economics at a gold price of $1,500 per ounce with pre-tax free cash flow of $564 million and a post-tax net present value of $303 million (using a 5% discount rate) and an internal rate of return of 23%. The Mother Lode project is modeled as a large, open-pit, with a biological oxidation mill to treat the higher-grade sulphide mineralization and a heap leach pad for treatment of oxide mineralization capable of producing 171,000 ounces of gold per year during its projected 8 year mine life.

For more information, please refer to www.corvusgold.com and see the news release dated October 7, 2020.

Hasbrouck-Three Hills (1.25% NSR Royalty)

On November 5^th, West Vault Mining Inc. (“West Vault”) announced receipt from the Bureau of Land Management of a Decision Record and Finding of No Significant Impact for the Hasbrouck mine, signifying the completion of federal permitting, and the final major permitting step to allow construction. The Hasbrouck mine is planned as phase two of the Hasbrouck gold project, with phase 1 being the fully permitted Three Hills mine. The Hasbrouck gold project is one of only a few shovel-ready gold projects in the southwest United States.

For more information, please refer to www.westvaultmining.com and see the news release dated November 5, 2020.

Moss (100% Silver Stream)

On October 7^th, Northern Vertex Mining Corp. (“Northern Vertex”) announced record production of 14,673 gold equivalent ounces at the Moss mine for the quarter ended September 30, 2020. Northern Vertex also announced, on October 15, 2020, that additional high-grade gold and silver drill results have been received from its multi-phase resource expansion program at the mine, specifically from the Ruth Vein and the surrounding area. These positive drill results achieved from the Ruth Vein and its proximity to the Moss Vein open pit makes it an important target for further testing for the possibility of additional resources, pit expansion and mine life extension.

For more information, please refer to www.northernvertex.com and see the Northern Vertex news releases dated October 7, 2020 and October 15, 2020.

Beta Hunt (4.75% Royalty on Gold and 1.5% Royalty on Nickel)

On September 8^th and 10^th, Karora Resources Inc. (“Karora”) announced discoveries of new high-grade gold and nickel mineralization at Western Flanks. As a result of the recent exploration success, Karora announced an increase of its 2020 exploration expenditures to A$15 million at its consolidated Western Australia assets. Furthermore, on November 2^nd, Karora announced the discovery of approximately 2,000 ounces of coarse gold in the A Zone shear. Karora expects to release an updated mineral reserve and resource estimate during the fourth quarter of 2020.

For more information, please refer to www.karoraresources.com and see the Karora news releases dated September 8, 2020, September 10, 2020, and November 2, 2020.

Dividend

The quarterly cash dividend of $0.01 per common share will be paid on or about December 15, 2020, to shareholders of record as of the close of business on November 30, 2020.

This dividend is designated as an “eligible dividend” for the purposes of the Income Tax Act (Canada). Dividends paid by Maverix to shareholders outside Canada (non-resident investors) will be subject to Canadian non-resident withholding taxes. The declaration, timing, amount and payment of future dividends remains at the discretion of Maverix’s Board of Directors.

Qualified Person

Brendan Pidcock, P.Eng., is Vice President Technical Services for Maverix, and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.

About Maverix

Maverix is a gold-focused royalty and streaming company with a globally diversified portfolio of over 100 assets. Maverix’s mission is to increase per share value by acquiring precious metals royalties and streams. Its shares trade on both the NYSE American and the TSX under the ticker “MMX”.

Cautionary statements to U.S. investors

The financial information included or incorporated by reference in this press release or the documents referenced herein has been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, which differs from US generally accepted accounting principles (“US GAAP”) in certain material respects, and thus are not directly comparable to financial statements prepared in accordance with US GAAP.

Information contained or referenced in this press release or in the documents referenced herein concerning the properties, technical information and operations of Maverix has been prepared in accordance with requirements and standards under Canadian securities laws, which differ from the requirements of US securities laws. The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” used in this press release or in the documents incorporated by reference herein are mining terms as defined in accordance with NI 43-101 under guidelines set out in the Definition Standards for Mineral Resources and Mineral Reserves adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on 11 December 2005. While the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are recognized and required by Canadian securities laws, they are not recognized by SEC standards and normally are not permitted to be used in reports filed with the SEC. Investors are cautioned not to assume that all or any part of the disclosed mineral resource estimates will ever be confirmed or converted into reserves that meet the definitions used by the SEC.  Disclosure of contained ounces are or may be permitted disclosure under regulations applicable to Maverix; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit of production measures. Accordingly, certain information contained in this press release or in the documents incorporated by reference herein concerning descriptions of mineralization and mineral resources under these standards may not be comparable to similar information made public by US companies subject to reporting and disclosure requirements of the SEC.

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, statements with respect to Maverix’s financial guidance, attributable gold equivalent ounce guidance, financial outlook, the payment of Maverix’s dividend, proposed plans for acquiring additional stream and royalty interests and the potential of such streams and royalty interests to provide returns, corporate and operational updates at mines, properties, projects or mining operations that Maverix holds an interest in and the completion of expansion and or construction phases at the mines or properties that Maverix holds an interest in. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which Maverix will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Maverix; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises, including the current outbreak of the novel coronavirus known as COVID-19 on Maverix’s business, operations and financial condition, loss of key employees, as well as those risk factors discussed in the section entitled “Risk Factors” in Maverix’s annual information form dated March 23, 2020 available at www.sedar.com. Maverix has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Maverix undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.

Technical and third-party information

The disclosure herein and relating to properties and operations on the properties in which Maverix holds royalty, stream or other interests is based on information publicly disclosed by the owners or operators of these properties and information/data available in the public domain as at the date hereof, and none of this information has been independently verified by Maverix. Specifically, as a royalty or stream holder, Maverix has limited, if any, access to properties included in its asset portfolio. Additionally, Maverix may from time to time receive operating information from the owners and operators of the properties, which it is not permitted to disclose to the public. Maverix is dependent on, (i) the operators of the properties and their qualified persons to provide information to Maverix, or (ii) on publicly available information to prepare disclosure pertaining to properties and operations on the properties on which Maverix holds royalty, stream or other interests, and generally has limited or no ability to independently verify such information. Although Maverix does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate. Some information publicly reported by operators may relate to a larger property than the area covered by Maverix’s royalty, stream or other interest. Maverix’s royalty, stream or other interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production of a property.

View original content to download multimedia:http://www.prnewswire.com/news-releases/maverix-announces-record-third-quarter-2020-results-301172551.html

SOURCE Maverix Metals Inc.

Movie-Lovers Can Reserve an Entire Cineplex Auditorium Starting at Just $125

Enjoy a Safe Big Screen Experience with Up to 20 Guests – Just in Time for the Holidays!

TORONTO, Nov. 13, 2020 /CNW/ – (TSX: CGX) – Do you have cabin fever? We’ve got you covered! Cooped up Canadians can continue enjoying the magic of movie theatres with friends and family this holiday season. Cineplex, one of Canada’s leading entertainment and media companies, is announcing the launch of ‘Private Movie Nights’ – a new private screening offering that provides Canadians a fun and safe way to catch their favourite flick on the big screen, day or night.

Just in time for the holidays, Canadian movie-lovers can get out of the house to experience amazing sound, giant screens, incomparable cinematic experiences, and indulge in a delicious selection of snacks! Starting at just $125 for groups of up to 20 guests, these unique and memorable movie experiences include a private auditorium rental and the choice of more than 1,000 movie titles. Whether you are celebrating date night with a big screen viewing of Love Actually or planning a family holiday movie matinee with your little ‘Whos’ to see The Grinch, Cineplex has film titles for everyone including new and current releases, holiday favourites and all-time classics.

“Going to the movies is a holiday tradition for so many Canadians, and we are delighted to offer a safe and welcoming place for families and friends to keep their traditions alive through the magic of the movie theatre experience,” said Ellis Jacob, President and CEO, Cineplex. “Health and safety remain our top priority today and throughout this entire pandemic, and I couldn’t be prouder of how hard our local theatre teams have worked to keep Canadians safe since our reopening. ‘Private Movie Nights’ are an affordable way for families, friends, and other groups to safely gather and celebrate the season.”

Canadians across the country – COVID-19 government restrictions permitting – can book ‘Private Movie Nights’ screenings by visiting Cineplex’s dedicated web page. The ability to book an auditorium through Cineplex.com instantly in just three clicks will be available to movie-lovers in the coming days.

Cineplex guest survey data shows that Canadians feel overwhelmingly safe in the theatre environment as well, with a 93 per cent satisfaction rate on auditorium health and safety, and a 95 per cent satisfaction rate on overall experience. Since reopening in late-June, Cineplex has proudly hosted thousands of film screenings with no reported or confirmed transmissions of COVID-19 at any of its locations. In fact, there have been no outbreaks traced to movie theatres anywhere in the world, according to the Global Cinema Federation.

Private bookings and event rentals are also available at Cineplex’s locations of Playdium and The Rec Room – COVID-19 restrictions permitting – including use of the entire space, unlimited play on games, and dedicated staff for your time there. Click here to learn more about safety protocols at Cineplex theatres, The Rec Room and Playdium locations. 

About Cineplex
Cineplex (TSX: CGX) is a top-tier Canadian brand that operates in the film entertainment and content, amusement and leisure, and media sectors. As a leading entertainment and media company, Cineplex welcomes millions of guests annually through its circuit of theatres and location-based entertainment (“LBE”) venues across the country. In addition to being Canada’s largest and most innovative film exhibitor, Cineplex also operates successful businesses in digital commerce (CineplexStore.com), food service, alternative programming (Cineplex Events), cinema media (Cineplex Media), digital place-based media (Cineplex Digital Media “CDM”) and amusement solutions (Player One Amusement Group “P1AG”). Additionally, Cineplex operates an LBE business through Canada’s newest destinations for ‘Eats & Entertainment’ (The Rec Room), and entertainment complexes specifically designed for teens and families (Playdium). Cineplex is a joint venture partner in SCENE, Canada’s largest entertainment loyalty program.

Proudly recognized as having one of the country’s Most Admired Corporate Cultures, Cineplex employs approximately 13,000 people in its offices across Canada and the United States. To learn more visit Cineplex.com or download the Cineplex App.

SOURCE Cineplex

• Total revenue up 12% year-over-year to $31.7 million and revenue from North America increases 15% to $30.0 million
• Company reports record Adjusted EBITDA of $8.7 million, Adjusted Free Cash Flow of $4.4 million
• Net income increases 21% year-over-year to $3.6 million and earnings per share (basic) increases 25% to $0.10

VAUGHAN, ON, Nov. 13, 2020 /CNW/ – MAV Beauty Brands Inc. (“MAV Beauty Brands” or the “Company”) (TSX: MAV), a global personal care platform, today announced its financial results for the three and nine months ended September 30, 2020. Unless otherwise indicated, all amounts are expressed in U.S. dollars. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures (see “Non-IFRS Measures” below).

“We are pleased to report another quarter of strong results in 2020, particularly in light of the extraordinary operating environment. The results were highlighted by double-digit revenue growth, record Adjusted EBITDA, and robust free cash flow,” said Tim Bunch, President & CEO of MAV Beauty Brands. “The third-quarter results add to our strong year-to-date performance across these key financial measures. This speaks to the great efforts of our team and the resilience of the platform, which is increasingly diversified across brands, consumers, segments, and channels. These attributes serve us well in periods of uncertainty, mitigating risk while allowing us to benefit from shifting consumer preferences. The growth of our e-commerce business continues to be a bright spot in 2020, with sales once again more than doubling year over year.”  

Selected Financial Highlights⁽¹⁾⁽²⁾  

Q3 2020 Financial Review 

Revenue for Q3 2020 grew by 12% over Q3 2019 to $31.7 million. Growth in the quarter reflected our proven ability to accretively acquire businesses such as The Mane Choice (in November 2019), tempered by COVID-19 headwinds which reduced retail foot traffic and temporarily reduced  promotional activity at key retail partners as many of these retailers re-allocated promotional shelf space to other COVID-related essential items. Revenue from North America (which represents approximately 95% of total revenue) was $30.0 million in Q3 2020, up 15% from $26.0 million in Q3 2019.

For the fiscal year to date, revenue grew both organically and inorganically by 19% over 2019 to $92.8 million, reflecting the same factors mentioned above. In general, performance matched our objective of coupling accretive M&A with organic growth that outpaces the overall category. Despite the uncertain and extraordinary environment in retail in 2020, we believe this revenue growth demonstrates the value of our platform.

Over the past year, we continued to leverage our operating platform to build our brands and drive organic growth, using a four-pronged strategy: 1) expand the distribution footprint; 2) introduce winning innovation; 3) amplify the brands; 4) drive efficiencies. Over the past year, we have effectively executed on each of the strategies. We have secured new distribution for each of our brands and accelerated e-commerce sales; expanded our skin care products through innovation; greatly increased brand impressions through our marketing efforts; and generated efficiencies in cost of goods sold.

Q3 2020 gross profit increased 12% year over year to $15.7 million, and Q3 2020 gross profit margin, at 49.6%, was similar to the prior year period (49.8%). We expect some variability in gross margin quarter to quarter based on product mix and promotional decisions, which impact trade spend. Importantly, we have been successful at generating product cost savings over the past year which has allowed for steady margin improvements, as reflected in our year-to-date gross margin of 51% compared to 49% in the prior year.

Excluding share-based compensation charges of $0.4 million, Q3 2020 selling and administrative expense was $6.9 million, or 22% of sales, compared with $5.6 million, or 20% of sales, in the same period last year, excluding $0.7 million of share-based compensation charges in Q3 2019. While higher than the prior year, primarily as a result of the addition of The Mane Choice, selling and administrative expense has remained relatively constant in 2020.

Q3 2020 Adjusted EBITDA increased by 3% to a record $8.7 million (27.4% of revenue), from Adjusted EBITDA of $8.5 million in Q3 2019 (29.9% of revenue) (see “Non-IFRS Measures” below). Adjusted EBITDA margin in the current period was consistent with the first and second quarters of 2020. In Q3 2020, the Company reported net income of $3.6 million, up 21% from $2.9 million in Q3 2019, and Adjusted Net Income increased by 9% to $4.2 million, compared with Adjusted Net Income of $3.8 million in Q3 2019, reflecting the factors discussed above (see “Non-IFRS Measures” below).

Q3 2020 cash flow from operations was $7.0 million, up 18% from the prior year. In addition, the current quarter reflects increased working capital investment, primarily due to higher receivables as a result of increased revenues, and higher inventory. As a result, the Company generated Adjusted Free Cash Flow of $4.4 million in Q3 2020, compared with $5.6 million in Q3 2019 (see “Non-IFRS Measures” below). On a Pro Forma basis, including the results of The Mane Choice for the trailing 12 months, the Net Debt-to-Adjusted EBITDA ratio was 3.9 times, compared with 4.0 times at the end of Q2 2020 (see “Non-IFRS Measures” below). 

Q3 2020 Financial Statements and Management’s Discussion and Analysis

The Company’s unaudited consolidated interim financial statements for the three- and nine-month periods ended September 30, 2020 and Management’s Discussion and Analysis are available under the Company’s profile on SEDAR at www.sedar.com and on MAV Beauty Brands’ investor relations website at investors.mavbeautybrands.com.

Annual General Meeting

This year, to mitigate risks to the health and safety of our communities, shareholders, employees and other stakeholders resulting from the COVID-19, the Company will hold its annual general meeting of shareholders in a virtual-only format on November 13 at 2:00 p.m. EST. The event can be accessed from MAV Beauty Brands’ investor relations website at investors.mavbeautybrands.com or at https://web.lumiagm.com/264999089.

Conference Call & Webcast

MAV Beauty Brands will host a conference call to discuss its fiscal 2020 third quarter financial results at 8:30 a.m. EST on November 13, 2020. The call will be hosted by Tim Bunch, President & CEO, and Judy Adam, CFO. To participate in the call, dial (416) 764-8659 or (888) 664-6392 (using the conference ID 58878160). The audio webcast can be accessed at investors.mavbeautybrands.comhttps://bit.ly/2mutHer. Listeners should access the webcast or call 10-15 minutes before the start time to ensure they are connected.

About MAV Beauty Brands (TSX:MAV)

MAV Beauty Brands is a global personal care platform focused on acquiring great independent brands and helping these brands to scale and win market share. We have built an operating platform to build brands through expanded distribution, innovation, and marketing. Today, we have a diversified portfolio of four complementary personal care brands – Marc Anthony True Professional, Renpure, Cake Beauty and The Mane Choice – offering premium quality hair care, body care and beauty products. These products are sold in over 30 countries around the world and in more than 100 of the world’s largest retailers.

Non–IFRS Measures 

This press release makes reference to certain non–IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. We use non–IFRS measures including “Adjusted EBITDA”, “Adjusted Net Income”, “Free Cash Flow”, “Adjusted Free Cash Flow” and “Net debt-to-Adjusted EBITDA”. These non–IFRS measures are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures. We also believe that securities analysts, investors and other interested parties frequently use non–IFRS measures in the evaluation of issuers. Our management also uses non–IFRS measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and to determine components of management compensation. Definitions and reconciliations of non-IFRS measures to the relevant reported measures can be found in our MD&A. Such reconciliations can also be found in this press release under the headings “Q3 2020 Compared to Q3 2019”.

“Adjusted EBITDA” represents, for the applicable period, EBITDA as adjusted to add back or deduct, as applicable, certain expenses, costs, charges or benefits incurred in such period which in management’s view are not indicative of continuing operations, including: (i) integration, restructuring, and other costs; (ii) shareholder fees and related costs; (iii) purchase accounting adjustments; (iv) share–based compensation; and (v) unrealized foreign exchange (gain) loss.

“Adjusted Free Cash Flow” is calculated as free cash flow adjusted to add back acquisition related costs which are included in cash provided by operating activities. We believe Adjusted free cash flow is a useful measure to assess the Company’s ability to repay debt, finance strategic business acquisitions and investments, pay dividends and repurchase shares. It also facilitates period-to-period comparisons.

“Adjusted Net Income” represents, for the applicable period, net income (loss) and comprehensive income (loss) as adjusted to add back or deduct, as applicable, certain expenses, costs, charges or benefits incurred in such period which in management’s view are not indicative of continuing operations, including: (i) integration, restructuring, and other costs; (ii) shareholder fees and related costs; (iii) purchase accounting adjustments; (iv) share–based compensation; (v) unrealized foreign exchange (gain) loss; and (vi) tax impacts of the aforementioned adjustments (based on annual effective tax rate).

“EBITDA” represents net income (loss) and comprehensive net income (loss) for the period before: (i) income tax (recovery) expense; (ii) interest; and (iii) amortization and depreciation.

”Free Cash Flow” represents, for the applicable period, cash provided by operating activities less cash used to purchase property and equipment. Free cash flow is a key metric that measures the Company’s ability to repay debt, finance strategic business acquisitions and investments, pay dividends and repurchase shares.

“Net debt and Net debt-to-Adjusted EBITDA” net debt is calculated as long-term debt before unamortized deferred financing costs less cash as reported in the consolidated statements of financial position. Net debt-to-Adjusted EBITDA is calculated as net debt divided by Adjusted EBITDA for the four trailing quarters. Net debt is an important measure as it reflects the principal amount of debt owing by the Company as at a particular date. Net debt-to-Adjusted EBITDA is an important measure of the Company’s liquidity. References to such calculation on a pro forma basis gives effect to the acquisition of The Mane Choice as if it occurred on January 1, 2019.

In addition, pro forma information regarding The Mane Choice should not be considered to be what the actual financial position or other results of operations of the Company would have necessarily been had The Mane Choice acquisition been completed, as, at, or for the periods stated.

Forward-Looking Information
Certain information in this press release, including statements relating to the Company’s ability to navigate the business environment during the COVID-19 pandemic. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by MAV Beauty Brands as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Company’s Annual Information Form dated on or about March 30, 2020 for the year ended December 31, 2019 and the Company’s other periodic filings made available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect MAV Beauty Brands; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and MAV Beauty Brands expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Q3 2020 Compared to Q3 2019

 

 

 

SOURCE MAV Beauty Brands Inc.

SEATTLE, Nov. 13, 2020 /PRNewswire/ — (NASDAQ: RDFN) — 56.8% of Redfin offers on homes nationwide faced competition in October, little changed from September’s revised rate of 57.4%, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. While that’s down slightly from the recent peak of 59.3% in August, it represents the sixth-consecutive month in which the bidding-war rate exceeded 50%.

An offer is considered part of a bidding war if a Redfin agent reported that it received at least one competing bid.

Competition in the housing market has remained fierce during the coronavirus pandemic due to record-low mortgage rates, a shortage of homes for sale and a sudden wave of migration made possible by remote work. This has triggered a surge in home prices, which grew 15% year over year during the four-week period ending Nov. 1, and are showing no signs of slowing.

“Has the market calmed down since the summer? Yes, but every offer I submit still faces multiple competing bids and we continue to see a lot more buyers than we normally would at this time of year,” said Melissa Killham, a Redfin real estate agent in Kenosha, WI. “The typical home today gets four or five offers, compared with eight or nine back in September. The buyers who are in the market right now don’t need to buy. They’re buying if they find the perfect home with more space and a big backyard, and if not, they’re staying put until they do.”

Salt Lake City Was the Most Competitive Market; Las Vegas Was the Least Competitive

At least half of offers faced bidding wars in 16 of the 24 metros in this analysis. Salt Lake City had the highest bidding-war rate, with 75% of Redfin offers encountering competition. In second place was San Diego, at 73.2%, followed by San Francisco/San Jose, at 69.6%. Austin, which was the second-most popular destination for homebuyers looking to move to a different metro area in the third quarter, was number four.

At the northern end of the Jersey Shore, the housing market is so hot that offering all cash for a home doesn’t always cut it anymore, according to local Redfin real estate agent Anthony Gonzalez.

“Cash is no longer king in this market,” he said. “What wins a bidding war today is offering more than the asking price and waiving the appraisal contingency. Generally, if you’re bidding on a house that’s in great condition in a good location with multiple offers, you’ve gotta go at least $20,000 over ask. Every single time that my client does, they win the deal.”

Las Vegas had a lower rate of competition than any other metro area in this analysis, with just 38.2% of offers facing bidding wars in October. It was followed by Miami, Chicago and Detroit, at 38.5, 41.1% and 44.1%, respectively.

Condos Were the Least Likely to Face Competition

Condos were the least likely to encounter bidding wars in October, with 41.4% of Redfin offers facing competition. That compares with 56.8% of offers for townhomes, and 59.4% of offers for single-family homes.

The condo market has seen relatively slow growth as remote work, the desire for privacy and record-low mortgage rates have made single-family homes more desirable during the coronavirus pandemic.

“In Seattle’s Capitol Hill neighborhood, there are no bidding wars at all when it comes to condos,” said local Redfin agent Forrest Moody. “I’ve sold 25 condos so far this year, and I have not had bidding wars on any of them.”

Bidding-War Rates By Metro Area, October 2020 and September 2020


To be included in this analysis, metros must have had at least 30 offers written by Redfin agents from Oct. 1, 2020 to Oct. 31, 2020.

 

To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/real-estate-bidding-wars-october-2020/

About Redfin
Redfin (www.redfin.com) is a technology-powered residential real estate company, redefining real estate in the consumer’s favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we also run the country’s #1 real estate brokerage search site, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 90 markets in the United States and Canada. Since our launch in 2006, we have saved our customers over $800 million and we’ve helped them buy or sell more than 235,000 homes worth more than $115 billion.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email [email protected]. To view Redfin’s press center, click here.

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SOURCE Redfin

TORONTO, Nov. 13, 2020 /CNW/ – For the 11^th year in a row, Accenture (NYSE: ACN) has been named one of Canada’s Top 100 Employers.

The Canada’s Top 100 Employers ranking, now in its 21^st year, is a national competition that identifies employers leading their industries with innovative programs to attract and retain top talent and foster exceptional workplace environments.

“It’s an honour to be recognized again, alongside so many clients and partners, as a leading employer in Canada – especially during a time of unprecedented challenges and change,” said Jeffrey Russell, president of Accenture in Canada. “The past year has underscored why we put the wellbeing of our people first, why we are committed to nurturing an inclusive workforce, and why we invest in talent and skills so that we can emerge stronger together.”

Accenture has been consistently recognized in Canada and globally as an employer of choice. The company has been named to Fortune‘s World’s Most Admired Companies list for 18 consecutive years, DiversityInc‘s Top 50 Companies for Diversity list for 14 consecutive years, and the Refinitiv Diversity & Inclusion Top 100 index, ranking in the top three worldwide for the third straight year.

“Like Canada itself, Accenture employees represent a tremendous variety of cultures, ethnicities, beliefs, backgrounds and languages, and this rich diversity makes our company smarter and more innovative,” said Zahra Jadavji, managing director of inclusion and diversity at Accenture in Canada. “We are proud to be recognized for our commitment and passion to providing an inclusive, open and equitable environment from the top down for all individuals.”

New programs and initiatives that contributed to Accenture being recognized as a top employer include:

• Supporting Canada’s future workforce: In January 2020, Accenture made a cash and in-kind services grant of more than C$1.1 million to ACCES Employment to develop an artificial intelligence (AI)-powered bot to help newcomers find meaningful careers in Canada. The initiative aligns with Accenture’s Skills to Succeed program, which uses technology to improve employment and entrepreneurship outcomes at scale.

• Investing in Canada and putting employees first: In January 2020, Accenture held a grand opening for a new Intelligent Operations Centre in St. Catharines, Ontario. As part of an investment in Canada and the Niagara Region, the new centre brought an additional 100 local jobs in marketing, sales, customer care, and IT support. With employees in mind, the new location offers wellness features including a mothers’ room, a meditation and prayer room, and fitness and games areas. Employees also have the capability to work from home and have been since the start of the pandemic.

• New data studios for intelligent insights: To further expand market reach and help clients achieve breakthrough results, Accenture launched a Toronto Data Studio in December 2019 and Montreal Data Studio in March 2020. Data studio experts work alongside clients to help them capitalize on their data to generate intelligent insights.

• Focusing on ‘Getting to Equal’: Timed to International Women’s Day, Accenture publishes annual research to help advance the conversation on workplace equality. The latest Getting to Equal thought leadership research shows that while more companies are focusing on equality and employees are concerned about workplace culture, progress remains slow. The report identifies a small percentage of leaders – Culture Makers – who are leading the way by “saying, doing and driving” cultural change.

• Driving local growth and talent development: Accenture continues to support growth in its regional business markets. During the 2020 fiscal year, Accenture appointed Martine Lapointe as Montreal Office Managing Director and Elizabeth Boright as Alberta Managing Director. With more than 20 years of experience each, both are focused on bringing innovation to Accenture’s clients, attracting top talent and strengthening Accenture’s overall impact in their local communities.

The final selections for Canada’s Top 100 Employers, determined by Mediacorp Canada Inc., the nation’s largest publisher of employment periodicals, represent the top-performing employers in eight criteria fundamental to company success and employee satisfaction: (1) Physical Workplace; (2) Work Atmosphere and Communications; (3) Financial Benefits and Compensation; (4) Health and Family-Friendly Benefits; (5) Vacation and Personal Time-Off; (6) Employee Engagement and Performance; (7) Training and Skills Development, and (8) Community Involvement.

The full list of Canada’s Top 100 Employers for 2021 will appear in The Globe and Mail on Nov. 13.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

SOURCE Accenture

PLANO, Texas, Nov. 13, 2020 /PRNewswire/ — As the holidays approach, consumers are expecting their celebrations to look different compared to last year, with half planning to shop for their holiday groceries through an online retailer, up from just 15 percent in 2019, and the majority of consumers – 63 percent – planning to use cooking at home as a way to stay entertained in the coming months.

Frito-Lay, maker of many of America’s favorite snack foods, today announced the latest edition of its U.S. Snack Index survey¹, revealing how shopping, cooking and snacking trends have changed this year, and what’s expected to have a lasting impact in 2021 and beyond. 

“Consumers have shifted their behavior with 58 percent snacking more since COVID-19, and shopping through new channels with online adoption up 40 percent,” said Mike Del Pozzo, senior vice president of sales and chief customer officer, Frito-Lay North America. “This holiday season we expect to see more small gatherings and a move away from potlucks, which means more families purchasing the whole meal. In fact, 13 percent expect to spend more on groceries for Thanksgiving this year, so the importance of offering variety and accessibility of America’s favorite snacks is a priority for Frito-Lay this holiday season.”

Additional market trends and U.S. Snack Index highlights show:

300+ percent increase in Americans who plan to shop for holiday foods through an online retailer versus last year.

• Maintaining health and safety is a top concern (37 percent) for grocery shopping this holiday season, driving more consumers to adopt online grocery shopping.
• In fact, 50 percent of Americans plan to shop for their holiday groceries through an online retailer, up from just 15 percent in 2019.
• Snacks are the most likely category to be purchased online for the holidays, with 77% of consumers saying they are likely to do so.

While holidays will look different, food will continue to play a major role.

• Most Americans (83 percent) plan to spend the same or more on groceries during the holidays.
• Americans are shopping earlier for holiday groceries. One in five plans to shop over three days earlier than last year to avoid crowds or out-of-stocks (IRI).
• Holiday gatherings will be much smaller this year: the median number of people at the main Thanksgiving meal is expected to be five this year, down from eight last year (IRI).
• When it comes to what’s on the holiday spreads, Chicagoans ranked sweet snacks first at 61 percent, San Franciscans preferred chips and dips (58 percent) and over half of Miamians (54 percent) are planning to serve cheese and meat platters.

Consumers are stocking up on snacks more than ever before
.

• 66 percent of survey respondents say they keep more snacks stocked at home than before the pandemic. 
• This winter, 54 percent of shoppers are planning to stock up on essentials, with salty snacks the number five category consumers are looking to stockpile.
• The reason for stocking up right now? 66 percent are concerned about products being out of stock and 58 percent want to reduce exposure to the virus.
• One main reason why consumers are putting more snacks in their pantries is to add a little more fun to the days at home. 63 percent of survey respondents said they snack as a way to break up their day and 76 percent said eating snacks is a way to treat themselves.
• Dips have become an increasingly popular snack. Frito-Lay reports a 16 percent increase in the purchase of dips year over year, with consumers citing convenience/not needing to make it from scratch as the primary reason for purchase.

Consumers are grocery shopping more during the week and online.

• While Saturday and Sunday used to be the traditional shopping days, consumers are now shopping throughout the week as schedules are different, with Wednesday and Thursday seeing an increase in store traffic.
• eCommerce Grocery also remains high and is expected to stick. The average online basket is up 32 percent YOY and 75 percent of consumers intent to repeat with most recent online grocery provider in the next 30 days.

Cooking returns as most preferred form of entertainment amid a resurgence of COVID – and snack foods are increasingly an ingredient in recipes.

• Americans are not experiencing as much cooking fatigue as might be expected, only 40 percent indicated they are tired of cooking at home.
• Nearly two-thirds (63 percent) of respondents plan to use cooking to stay entertained, making it the most popular activity respondents said they’d partake in, amid a resurgence of COVID.
• And Americans are looking for new ways to spice up with recipes, with 83 percent of respondents saying they have used or would try a snack food as an ingredient in a recipe, with potato chips (31 percent) and tortilla chips (32 percent) the most popular snack food ingredient.
• 63 percent agreed they need more recipe inspiration, so as a result PepsiCo recently launched MoreSmilesWithEveryBite.com, an online hub of family-friendly recipes featuring popular Frito-Lay snacks and Quaker foods.

Classic flavors are dominant as winter months set in.

• Americans are turning back to traditional comfort foods this season versus trendy seasonal flavors. For example, 50 percent of respondents say they are excited for classic comfort foods, and only 32 percent said they were excited for Pumpkin Spice. 
• These preferences also vary regionally, with 54 percent of Chicagoans most looking forward to chili, 40 percent of Dallas residents excited about chicken tortilla soup and 43 percent of New Yorkers leaning toward apple cinnamon flavors.

“These consumer and marketplace changes have enabled us to reevaluate how we ensure our products are always and everywhere,” added Del Pozzo. “Frito-Lay sets itself apart by owning every piece of the seed-to-shelf process, enabling agility to continuously innovate and meet consumer needs.”

For more information, visit: FritoLay.com/SnackIndex.

¹

Survey Methodology

This poll was conducted by Morning Consult between October 16-18 among a national sample of 2,200 Adults nationally, 500 adults in Chicago, Dallas, New York City, and Miami, as well as 400 adults in San Francisco. The interviews were conducted online, and the national data were weighted to approximate a target sample of Adults based on age, educational attainment, gender, race, and region. Results from the full survey have a margin of error of plus or minus 2 percentage points.

About Frito-Lay North America

Frito-Lay North America is the $17 billion convenient foods division of PepsiCo, Inc. (NASDAQ: PEP), which is headquartered in Purchase, NY. Learn more about Frito-Lay at the corporate website, http://www.fritolay.com/ and on Twitter http://www.twitter.com/fritolay.

About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $67 billion in net revenue in 2019, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales.
Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. “Winning with Purpose” reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business.  For more information, visit www.pepsico.com.

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SOURCE Frito-Lay North America

BEIJING, Nov. 13, 2020 /PRNewswire/ — Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) (“Fuwei Films” or the “Company”), a manufacturer and distributor of high-quality BOPET plastic films in China, today announced that the Company will report its unaudited financial results for the third quarter of 2020 on Monday, November 23, 2020 after the close of the market.

The Company will host a teleconference on Tuesday, November 24, 2020, at 8:00 a.m. ET / 9:00 p.m.Beijing time to discuss the financial results. To participate in the call, please dial +1-844-369-8770 in North America, or +1-862-298-0840 internationally, approximately 5 minutes prior to the scheduled start time.

A replay of the call can also be accessed via telephone by calling +1-877-481-4010 in North America, or +1-919-882-2331 internationally, and entering the following Conference ID: 38820. The replay will be available until December 8, 2020.

About Fuwei Films

Fuwei Films develops, manufactures and distributes high-quality plastic films using the biaxial oriented stretch technique, also known as BOPET film. Fuwei’s BOPET film is widely used to package food, medicine, cosmetics, tobacco, and alcohol, as well as in the imaging, electronics, and magnetic products industries.

Safe Harbor

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to risks. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission which, among other things, include the significant oversupply of BOPET films resulting from the rapid growth of the Chinese BOPET industry capacity, changes in the international market and trade barriers, especially the uncertainty of the antidumping investigation and imposition of an anti-dumping duty on imports of the BOPET films originating from the People’s Republic of China (“China“) conducted by certain countries; uncertainty around U.S.-China trade war and its effect on the Company’s operation, fluctuations of the RMB exchange rate, and our ability to obtain adequate financing for our planned capital expenditure requirements; uncertainty as to our ability to continuously develop new BOPET film products and keep up with changes in BOPET film technology; risks associated with possible defects and errors in our products; uncertainty as to our ability to protect and enforce our intellectual property rights; uncertainty as to our ability to attract and retain qualified executives and personnel; and uncertainty in acquiring raw materials on time and on acceptable terms, particularly in view of the volatility in the prices of petroleum products in recent years. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release. Actual results of our operations may differ materially from information contained in the forward-looking statements as a result of the risk factors.

For more information, please contact:

In China:

Xiaoli Yu

Investor Relations Officer
+86-133-615-59266
[email protected]

In the U.S.:

Shiwei Yin

Investor Relations
Grayling
+1-646-284-9474
[email protected]

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SOURCE Fuwei Films (Holdings) Co., Ltd.

CHESTERFIELD, Mo., Nov. 13, 2020 /PRNewswire/ — Reliv International, Inc. (NASDAQ:RELV), a marketer of nutritional supplements that promote optimal health, today reported its financial results for the third quarter of 2020.

Reliv reported net sales of $8.7 million for the third quarter of 2020 compared with net sales of $9.1 million in the third quarter of 2019, a decrease of 5.3%. Net sales in the United States, our largest market, decreased by $161,000 in the third quarter of 2020, which represented a 2.4% decrease in net sales when compared to the prior-year quarter. In the third quarter of 2019, net sales in the United States were favorably impacted by the then-recent launch of the RLV line of hemp-extract products and by the announcement of a price increase effective October 1, 2019.

Net sales in Reliv’s foreign markets decreased by $320,000, or 13.9%, in the third quarter of 2020 compared with the prior-year quarter. Net sales in Asia and Europe decreased by 20.3% and 13.5%, respectively, in the third quarter of 2020, as net sales in these regions continue to be heavily impacted by the COVID-19 pandemic. Net sales in Reliv’s foreign markets decreased by 17.0% during the third quarter of 2020 when the impact of foreign currency fluctuation is removed.

Reliv reported a net loss for the third quarter of 2020 of $125,000 (loss per diluted share of $0.07) compared to a net loss of $166,000 (loss per diluted share of $0.09) in the third quarter of 2019. The loss from operations for the third quarter of 2020 was $167,000 compared to a loss from operations of $85,000 in the same period in 2019. Results from operations declined primarily as the result of the decrease in net sales and gross margin.

Net sales for the first nine months of 2020 were $27.0 million, which represents a 0.3% increase from the same period in 2019. Net sales in the United States increased by 3.8% and net sales in Reliv’s foreign markets decreased by 9.7% in the first nine months of 2020 compared with the same period last year. Net sales in Reliv’s foreign markets decreased by 10.1% during the first nine months of 2020 when the impact of foreign currency fluctuation is removed.

Reliv reported net income of $339,000, or $0.19 per diluted share in the first nine months of 2020, compared to a net income of $70,000 or $0.04 per diluted share in the same period of 2019.

Reliv had cash and cash equivalents of $3.3 million as of September 30, 2020, compared to $1.6 million as of December 31, 2019. Net cash provided by operating activities was $772,000 in the first nine months of 2020. 

As of September 30, 2020, Reliv had 24,850 active Distributors – a decrease of 4.1% from September 30, 2019 – of which 3,310 are Master Affiliate level and above. The number of Master Affiliates increased by 5.4% compared to the prior year total, driven by advancements in the Philippines. Master Affiliate is the level at which distributors are eligible to earn generation royalties. As of September 30, 2020, Reliv had 13,200 retail customers and Preferred Customers in total – a decrease of 12.0% from September 30, 2019.  The actual number of customers is much higher as many Distributors (approximately 74% in the U.S.) join Reliv to purchase our products at a discount and do not participate in the business opportunity and the count also does not include those customers that buy product directly from distributors rather than from the Company. 

“We believe Reliv is positioned well in the nutrition and work from home industries. The challenges caused by the COVID-19 pandemic continue, but we’re pleased with how our field has adapted with more frequent use of online technology to communicate and operate,” commented Ryan A. Montgomery, Chief Executive Officer. “We believe the work done this summer and early fall with virtual conferences and other tools will lead to stronger sales for the remainder of the year.”  

Reliv has hosted online conferences targeted to its North American and European regions over the past three months and will host one for its Asia-Pacific region in November.  “We are pleased with the content created and presented to much of the Reliv world, not only for its immediate impact, but the long-term value created by the mobile app and online content for customer acquisition and distributor training,” said Montgomery.

In international operations, net sales in Reliv’s key markets in Europe and Asia continue to be challenged as local COVID-19 guidelines still are generally more restrictive than those in the United States.  “Foreign sales, particularly in the Philippines, continue to be dampened by the pandemic,” noted Montgomery.  “However, we believe we still have a solid base of business in our foreign markets and feel sales will rebound as the world emerges from this global crisis.  We firmly believe the efficacy of our products and value of our home-based business opportunity play a role in this recovery.”

Last month, Reliv announced its intention to effect a reverse stock split, followed by a forward split of its common stock as part of a plan to delist its stock from NASDAQ and suspend its filing obligations to the U.S. Securities and Exchange Commission.  Reliv believes the costs of being a public reporting company far outweigh its benefits.  Reliv expects the plan to be complete on or after November 29, 2020.

About Reliv International, Inc.

Reliv International, based in Chesterfield, MO, develops and markets nutritional supplements that promote optimal nutrition. Reliv supplements address core nutrition, targeted solutions and overall wellness and now include a line of RLV hemp extracts. Reliv is the exclusive provider of LunaRich® products, which optimize levels of lunasin, a soy peptide that works at the epigenetic level to promote optimal health. The company sells its products through an international direct selling system of independent distributors in 13 countries. Learn more about Reliv at reliv.com, or on Facebook, Twitter or Instagram.

Statements made in this news release that are not historical facts are “forward-looking” statements (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties and are subject to change at any time. These forward-looking statements may include, but are not limited to, statements containing words such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” or similar expressions. Factors that could cause actual results to differ are identified in the public filings made by Reliv with the Securities and Exchange Commission. More information on factors that could affect Reliv’s business and financial results are included in its public filings made with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which are available on the Company’s web site, reliv.com.

–FINANCIAL HIGHLIGHTS FOLLOW –

 

 

 

 

For more information, contact:
Steve Albright                                                      
Chief Financial Officer 
(636) 733-1305

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SOURCE Reliv International, Inc.