Homesick and Dunkin’ Bring Back Limited-Edition Fan-Favorite Candles for the Holidays

A tantalizing tribute to iconic Dunkin’ menu items, Original Blend and Old Fashioned scents are back by popular demand, with a new candle personalization feature

PR Newswire

NEW YORK and CANTON, Mass., Nov. 23, 2020 /PRNewswire/ — After a successful 2019 launch and an outpouring of requests from fans nationwide, home fragrance and lifestyle brand Homesick announced today it has once again teamed up with Dunkin’, bringing back limited-edition candles inspired by some of the beloved brand’s most popular menu items: Original Blend Coffee and Old Fashioned Donuts.

This year, customers can add a personalized message, like their name, a holiday message, or even a favorite Dunkin’ order to the jar of any candle to make it an extra special gift. The collection, which draws on the power of scent to brew up meaningful memories, brings the Dunkin’ experience and moments of nostalgia into homes of fans nationwide during a time when many catch-ups over coffee and donuts have gone virtual.

Returning Homesick x Dunkin’ Collection candle fragrances include:

  • Original Blend – Dunkin’s signature blend coffee that has been keeping America running for 70 years. The combination of Original Blend Coffee and cream delivers a sweet scent to be enjoyed by all.
  • Old Fashioned – Indulge in the coziness of freshly baked Old Fashioned Donuts with the sweet but subtle scent of traditional warm spices that wrap you in nostalgia.

The returning candle fragrances were lovingly developed by Homesick’s team of researchers, chandlers, and perfume chemists, who worked closely with the Dunkin’ culinary team to ensure each candle captures the essence of the product it represents. Packaged in bold, vibrant prints that reflect Dunkin’s iconic pink and orange colors, the limited-edition collection is available beginning today, November 23, at homesick.com/dunkin for $34 MSRP. For another $15, fans can print a personalized message on the candle’s jar for a custom gift as unique as fans’ go-to Dunkin’ order. Each candle is hand-poured in the U.S. with a soy wax blend and offers a generous burn time of 60 to 80 hours.

“When we first started working with Dunkin’ to create this collection, we immediately bonded over our shared passion for putting a smile on people’s faces. It was all the more fulfilling for us to see such a positive response to the lineup – between Old Fashioned and Original Blend selling out so quickly, and an influx of comments, DMs, and emails from our customers asking us to bring it back,” said Lauren Lamagna, Director of Product Development and Merchandising at Homesick. “Whether our customers are buying for themselves to relive a special Dunkin’ memory, or to give to friends and family customized with their go-to order, we’re excited to team up with Dunkin’ again to offer this meaningful gift for the holiday season.”

“In a year when everyone could use a little more cheer, Dunkin’ coffee and donuts and Homesick candles have both played a role in bringing people moments of comfort and joy. Our fans are as unique as their coffee orders and we wanted to bring back our collaboration with the fun new twist of personalization,” said Justin Unger, Director of Strategic Partnerships at Dunkin’ Brands. “After last year’s response, it was an easy decision to team up with Homesick again to bring back those fan-favorite fragrances and allow people nationwide to experience Dunkin’ at home.”

The collaboration with Homesick is a key part of Dunkin’s plans to help fans give extra cheer all season long. From seasonal sips and holiday cups to custom, limited-edition holiday merch, Dunkin’ has fans’ backs this holiday season, however they’re celebrating.

For more information, please visit www.homesick.com/dunkin.

About Homesick
Founded in 2016, Homesick is a home fragrance and lifestyle brand that creates authentic, hand-poured products that draw on the power of scent to evoke treasured memories of people, places, and moments. Each fragrance is extensively researched and developed by our team of storytellers, perfume chemists, and chandlers in collaboration with passionate communities. Made from a natural soy wax blend with premium cotton wicks and custom fragrance oils, our candles are non-toxic and contain no lead, plastics, paraben, petroleum or phthalates.

Homesick is part of Win Brands Group (Win), a leading owner of product-focused, direct to consumer brands that deliver happiness and incredible experiences to their customers. In addition to Homesick, Win’s current portfolio includes the likes of QALO (silicone wedding rings and accessories), Bow & Drape (customizable women’s apparel) and Stowaway (high-quality, everyday cosmetics).

About Dunkin’
Founded in 1950, Dunkin’ is America’s favorite all-day, everyday stop for coffee and baked goods. Dunkin’ is a market leader in the hot regular/decaf/flavored coffee, iced regular/decaf/flavored coffee, donut, bagel and muffin categories. Dunkin’ has earned a No. 1 ranking for customer loyalty in the coffee category by Brand Keys for 14 years running. The company has more than 12,600 restaurants in 40 countries worldwide. Based in Canton, Mass., Dunkin’ is part of the Dunkin’ Brands Group, Inc. (Nasdaq: DNKN) family of companies. For more information, visit www.DunkinDonuts.com

Media Contact:

Caroline Medeiros

Dunkin’ Brands
[email protected] 
781-737-5200

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SOURCE Dunkin’

Goodyear Expands Mobile Tire Installation Service To Make Tire Buying Easier In Chicago Suburbs

This zero-contact service lets drivers have tires installed on their time and their turf

PR Newswire

CHICAGO, Nov. 23, 2020 /PRNewswire/ — With more consumers gravitating toward online shopping and mobile delivery, Goodyear’s Mobile Install service lets drivers get new tires professionally installed without ever leaving home.

Through Goodyear’s new mobile tire installation service, customers in the surrounding Chicago suburbs can shop for tires online and get them professionally installed at home for no extra cost beyond standard installation.* Additionally, Goodyear technicians uphold strict physical distancing measures as part of this zero-contact service.

“With our mobile tire installation option, we aim to accommodate customers who prefer not to leave their homes to get tires installed, as well as those who could simply benefit from the time saved,” said Ryan Hartschuh, mobile planning & development manager at Goodyear. “Our state-of-the-art van delivers the same quality mounting, balancing and installation process that you’d expect, without so much as leaving your home, workplace or even your kid’s soccer practice.”

Mobile Install comes just in time to serve drivers planning to travel for the holidays or using a personal vehicle for transportation. Fittingly, in other markets where Goodyear Mobile Install is available, the service is highly rated by customers and has grown in popularity as COVID-19 has changed in-person shopping habits.

Shopping for tires and booking Mobile Install on Goodyear.com is easy. You choose the right tires for your vehicle, then simply select Mobile Install at checkout. An experienced Goodyear technician will arrive at your selected time and place to install the tires. However, if Mobile Install isn’t your preferred option, tire installation is still available in-store throughout the greater Chicago area.

For more details or to book an appointment, visit www.Goodyear.com/van.  


*

 Terms and conditions of service apply.

About The Goodyear Tire & Rubber Company
Goodyear (NASDAQ: GT) is one of the world’s largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

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SOURCE The Goodyear Tire & Rubber Company

Ocean Bio-Chem, Inc. Board Authorizes Up to $3 Million Share Common Stock Repurchase Program

PR Newswire

FORT LAUDERDALE, Fla., Nov. 23, 2020 /PRNewswire/ — Ocean Bio-Chem, Inc. (NASDAQ: OBCI) announced today that its Board of Directors has unanimously authorized a program to repurchase shares of the Company’s Common Stock, par value $0.01 per share (the “Common Stock”) constituting, in the aggregate, up to an amount not to exceed $3.0 million. The program is effective immediately. Shares of the Common Stock may be repurchased in the open market or through negotiated transactions. The program may be terminated or suspended at any time at the discretion of the Company. The Company may in the future enter into a Rule 10b5-1 trading plan to effect a portion of the authorized purchases, if criteria set forth in the plan are met. Such a plan would enable the Company to repurchase its shares during periods outside of its normal trading windows, when the Company typically would not be active in the market.

Ocean Bio-Chem, Inc. President and CEO Peter Dornau, commented  “The Boards unanimous authorization to repurchase up to $3 million of common shares of our stock is supported by the Company’s current financial position as well as our favorable outlook for the future. The Board also approved the regular quarterly common share dividend of $.02 per/share for shareholders of record on December 3, 2020 and payable on December 17, 2020“.

The time of purchases and the exact number of shares to be purchased will depend on market conditions. The repurchase program does not include specific price targets or timetables and may be suspended or terminated at any time.  The Company intends to finance the purchases using available working capital.

About Ocean Bio-Chem, Inc.

Ocean Bio-Chem, Inc. manufactures, markets and distributes a broad line of appearance and maintenance products for the marine, automotive, power sports, recreational vehicle and outdoor power equipment markets under the brand names Star brite®, Star Tron®, Performacide® and OdorStar® within the United States and Canada. In addition, the Company produces private label formulations of many of its products for various customers and provides custom blending and packaging services for these and other products.

The Company’s web sites are: www.oceanbiochem.com, www.starbrite.comwww.startron.com, odorstar.com and www.performacide.com

Forward-looking Statements:

Certain statements contained in this Press Release, including without limitation, statements regarding our intentions with respect to future share repurchases and the amount, timing and price targets relating thereto, may be deemed to be forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.. Without limiting the generality of the foregoing, words such as “believe,” “may,” “will,” “expect,” “anticipate,” “intend,” or “could,” including the negative or other variations thereof or comparable terminology, are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Factors that may affect our plans and activities with respect to share repurchases include, but are not limited to, the highly competitive nature of our industry; reliance on certain key customers; changes in consumer demand for marine, recreational vehicle and automotive products; advertising and promotional efforts; exposure to market risks relating to changes in interest rates, foreign exchange rates, prices for raw materials that are petroleum or chemical based and other factors addressed in Part I, Item 1A (“Risk Factors”) in our annual report on Form 10-K for the year ended December 31, 2019 and Part II, Item 1A (“Risk Factors”) of subsequently filed quarterly reports on Form 10-Q.

Contact:

Peter Dornau

CEO & President
[email protected]
954-587-6280

Jeff Barocas

Vice President & CFO
[email protected]
954-587-6280

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SOURCE Ocean Bio-Chem, Inc.

Goodyear Expands Mobile Tire Installation Service To Make Tire Buying Easier In Greater Atlanta Area

This zero-contact service lets drivers have tires installed on their time and their turf

PR Newswire

ATLANTA, Nov. 23, 2020 /PRNewswire/ — With more consumers gravitating toward online shopping and mobile delivery, Goodyear’s Mobile Install service lets drivers get new tires professionally installed without ever leaving home.

Through Goodyear’s new mobile tire installation service, customers in the greater Atlanta area can shop for tires online and get them professionally installed at home for no extra cost beyond standard installation.* Additionally, Goodyear technicians uphold strict physical distancing measures as part of this zero-contact service.

“With our mobile tire installation option, we aim to accommodate customers who prefer not to leave their homes to get tires installed, as well as those who could simply benefit from the time saved,” said Ryan Hartschuh, mobile planning & development manager at Goodyear. “Our state-of-the-art van delivers the same quality mounting, balancing and installation process that you’d expect, without so much as leaving your home, workplace or even your kid’s soccer practice.”

Mobile Install comes just in time to serve drivers planning to travel for the holidays or using a personal vehicle for transportation. Fittingly, in other markets where Goodyear Mobile Install is available, the service is highly rated by customers and has grown in popularity as COVID-19 has changed in-person shopping habits.

Shopping for tires and booking Mobile Install on Goodyear.com is easy. You choose the right tires for your vehicle, then simply select Mobile Install at checkout. An experienced Goodyear technician will arrive at your selected time and place to install the tires. However, if Mobile Install isn’t your preferred option, tire installation is still available in-store throughout the greater Atlanta area.

For more details or to book an appointment, visit www.Goodyear.com/van.  


*

 Terms and conditions of service apply.

About The Goodyear Tire & Rubber Company
Goodyear (NASDAQ: GT) is one of the world’s largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world. Its two Innovation Centers in Akron, Ohio, and Colmar-Berg, Luxembourg, strive to develop state-of-the-art products and services that set the technology and performance standard for the industry. For more information about Goodyear and its products, go to www.goodyear.com/corporate.

 

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SOURCE The Goodyear Tire & Rubber Company

ONEOK Included in Dow Jones Sustainability World and North America Indices

Recognized as DJSI Industry Leader

PR Newswire

TULSA, Okla., Nov. 23, 2020 /PRNewswire/ — ONEOK, Inc. (NYSE: OKE) today announced its inclusion in the Dow Jones Sustainability World Index (DJSI World) and Dow Jones Sustainability North America Index (DJSI North America). Additionally, ONEOK was named the DJSI Industry Leader for Oil and Gas Storage and Transportation.

This marks ONEOK’s first inclusion in the DJSI World Index, where it is currently the only North American energy company included in the group of global sustainability leaders. The company was also included in the DJSI North America Index for the second consecutive year.

“The recognition of ONEOK’s long history of sustainability performance and first time inclusion in the DJSI World Index are the result of our employees’ hard work and dedication to operating safely and responsibly,” said Terry K. Spencer, ONEOK president and chief executive officer. “Making ESG a priority throughout our operations has long been an important strategy for ONEOK. While we are proud of the progress we’ve made and these recognitions from DJSI, our focus remains on continuing to improve our ESG performance.” 

Founded in 1999, the DJSI was the first global sustainability benchmark and tracks the stock performance of the world’s leading companies in terms of economic, environmental and social criteria. The DJSI World Index tracks the performance of the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index (S&P Global BMI). The DJSI North America Index tracks the performance of the top 20% of the largest 600 companies in the S&P Global BMI in the region.

DJSI Industry leaders are the top performing companies in each of the 61 industries represented in the DJSI Indices.

More information about ONEOK’s ESG performance can be found in the company’s Corporate Sustainability Report on ONEOK’s website, www.oneok.com.   

ONEOK, Inc. (pronounced ONE-OAK) (NYSE: OKE) is a leading midstream service provider and owner of one of the nation’s premier natural gas liquids (NGL) systems, connecting NGL supply in the Rocky Mountain, Mid-Continent and Permian regions with key market centers and an extensive network of natural gas gathering, processing, storage and transportation assets.

ONEOK is a FORTUNE 500 company and is included in the S&P 500.

For information about ONEOK, visit the website: www.oneok.com.

For the latest news about ONEOK, find us on LinkedIn, Instagram, Facebook and Twitter.

Analyst Contact: Megan Patterson
918-561-5325
Media Contact: Brad Borror
918-588-7582
  

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SOURCE ONEOK, Inc.

Telit LM960A18 LTE mPCIe Data Card Completes NTT DOCOMO Inter-Operability Testing

Industrial-grade data card, LM960A18, supports extensive carrier aggregation and private networks for bandwidth-intensive, mission-critical applications such as enterprise routers

PR Newswire

LONDON, Nov. 23, 2020 /PRNewswire/ — Telit, a global enabler of the Internet of Things (IoT), today announced that its LM960A18 mPCIe data card completed inter-operability testing at NTT DOCOMO. The LM960A18 allows customers in Japan to have a convenient way to replace their existing LTE mPCIe modules with an LTE-Advanced solution, giving enterprise IT vendors and other developers a global platform for creating LTE products. For more information, visit http://contact.telit.com/mobilebroadband.

The Telit LM960A18 LTE mPCIe data card has been tested against NTT DOCOMO’s LTE network in Japan for Cat 12, 2X2 MIMO and carrier aggregation, including both intra and inter band uplink carrier aggregation.

Its 5G-like speeds are ideal for demanding enterprise applications such as remote office routers and other network appliances. The LM960A18 supports more than two dozen LTE bands, including 42, which is key for carrier aggregation in Japan. It is also regulatory certified for use with the shared Extended Global Platform (sXGP), enabling users to take advantage of private LTE networks. The LM960A18 also supports band combinations to accommodate global deployments and supports multiple satellite location technologies including GPS.

“With the NTT DOCOMO inter-operability testing passed, Telit continues to be the leader in providing Japan’s IoT integrators, enterprise IT vendors and their customers with first-to-market solutions for leveraging NTT DOCOMO’s advanced network,” said Osamu Sato, country director, Telit. “The LM960A18 supports up to LTE Category 18 for use in all major carriers around the world and provides 5G-like speeds today for support of SD-WAN, enterprise networking and private LTE, giving enterprises a powerful new option for connecting their mission-critical network appliances in locations such as branch offices.”


About Telit


Telit (AIM: TCM), is a global leader in Internet of Things (IoT) enablement, with an extensive portfolio of wireless connectivity modules, software platforms and global IoT connectivity services, empowering hundreds of millions of connected ‘things’ to date, and trusted by thousands of direct and indirect customers, globally. With over two decades of IoT innovation experience, Telit continues to redefine the boundaries of digital business, by delivering secure, integrated end-to-end IoT solutions for many of the world’s largest brands, including enterprises, OEMs, system integrators and service providers across all industries, enabling them to simplify, connect and manage IoT at any scale.

Copyright © 2020 Telit Communications PLC. All rights reserved. Telit, Telit OneEdge and all associated logos are trademarks of Telit Communications PLC in the United States and other countries. Other names used herein may be trademarks of their respective owners.

Media Contacts

Leslie Hart

Telit
+1 919-415-1510
[email protected]

Lora Wilson

Valerie Christopherson

GRC for Telit
+1 949-608-0276
[email protected] 

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SOURCE Telit

Scotia Global Asset Management announces November 2020 cash distributions for Scotia Strategic ETF Portfolio and Scotia Index Tracker ETF

Canada NewsWire

TORONTO, Nov. 23, 2020 /CNW/ – Scotia Global Asset Management today announced the November 2020 cash distributions for the Scotia Strategic Fixed Income ETF Portfolio listed on the TSX and the Scotia Canadian Bond Index Tracker ETF listed on the NEO, which pays on a monthly basis. Unitholders of record on November 30, 2020 will receive cash distributions for the respective portfolios. The details of the cash distribution amounts per unit and the payable dates are as follows:


Scotia ETF name


Ticker
symbol

 


Cash distribution
per unit ($)


Payable date

Scotia Strategic Fixed Income ETF Portfolio

SFIX

0.038

December 3, 2020

Scotia Canadian Bond Index Tracker ETF

SITB

0.022

December 7, 2020

For more information on the Scotia ETFs, visit scotiabank.com/ETF.

Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (ETFs). Please read the prospectus before investing. The securities held by the ETFs can change at any time without notice. Investments in ETFs are not guaranteed, their values change frequently and past performance may not be repeated.

About Scotia Global Asset Management
Scotia Global Asset Management is a business name used by 1832 Asset Management L.P., a limited partnership, the general partner of which is wholly owned by Scotiabank. Scotia Global Asset Management offers a range of wealth management solutions, including mutual funds, and investment solutions for private clients, institutional clients and managed asset programs.

About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future”, we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.2 trillion (as at July 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit our website and follow us on Twitter @ScotiabankViews.

SOURCE Scotiabank

Cansortium Inc. Reports 2020 Third Quarter Financial Results

PR Newswire


Another strong quarter highlighted by $3.6M of Adjusted EBITDA on $14.3M of revenue

MIAMI, Nov. 23, 2020 /PRNewswire/ – Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) (“Cansortium” or the “Company”), a vertically-integrated provider of premium-quality medical cannabis, today announced financial results for its third quarter and nine months ended September 30, 2020. The Company’s unaudited condensed interim consolidated financial statements and accompanying notes, along with the Management Discussion and Analysis (MD&A) are available under the Company’s profile on SEDAR at www.sedar.com and are also accessible through a link on the Investor Relations section of the Company’s website at www.cansortium.com.


Selected Third Quarter 2020 Financial Highlights

  • Consolidated revenue of $14.3 million, an increase of 94 percent or $6.9 million compared with consolidated revenue of $7.4 million in the third quarter of 2019.
  • Consolidated loss from operations of $(1.9) million, compared to loss from operations of $(8.1) million in the third quarter of 2019.
  • Consolidated Adjusted EBITDA(1) of  $3.6 million, compared to Adjusted EBITDA(1) loss of  $(2.1) million in the third quarter of 2019.
  • Consolidated net loss of $(8.9) million, or $(0.04) per diluted share, compared to consolidated net loss of $(11.3) million, or $(0.06) per diluted share for the same period last year.
  • During the third quarter of 2020, the Company opened its 21st medical marijuana dispensary in Coral Springs, FL. It operated 16 dispensaries during the comparable period in 2019. In October and November of 2020, the Company opened its 22nd and 23rdFlorida dispensary in Coral Gables, FL and Kendall, FL, respectively.

(1)

Adjusted EBITDA is a non-IFRS financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. The Company calculates adjusted EBITDA from EBITDA plus (minus) unrealized loss (gain) on embedded derivatives, plus (minus) certain one-time non-operating expenses, as determined by management. Reconciliations from EBITDA and Adjusted EBITDA to Net Loss are included in the accompanying financial schedules.


Selected Year-to-Date 2020 Financial Highlights

  • Consolidated revenue of $37.7 million, an increase of 50 percent or $18.7 million compared with consolidated revenue of $19.0 million during the nine months ended September 30, 2019.
  • Consolidated income from operations of $1.3 million, compared to loss from operations of $(28.7) million during the nine months ended September 30, 2019.
  • Consolidated Adjusted EBITDA(1) of  $7.0 million, compared to Adjusted EBITDA(1) loss of $(7.2) million during the nine months ended September 30, 2019.
  • Consolidated net loss of $(28.3) million, or $(0.14) per diluted share, compared to consolidated net loss of $(33.1) million, or $(0.18) per diluted share for the same period last year.

(1)

Adjusted EBITDA is a non-IFRS financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. The Company calculates adjusted EBITDA from EBITDA plus (minus) unrealized loss (gain) on embedded derivatives, plus (minus) certain one-time non-operating expenses, as determined by management. Reconciliations from EBITDA and Adjusted EBITDA to Net Loss are included in the accompanying financial schedules.


Full Year 2020 Outlook

The Company has continued to make progress on its targeted initiatives focused on growth and long-term shareholder value creation.   In its home state of Florida, the Company secured an additional cultivation and production facility during the second quarter of 2020 with minimum capital outlay, with operations anticipated to commence in the fourth quarter of 2020, and has opened five of the six dispensaries planned for 2020.  In Pennsylvania, the Company is actively pursuing two additional dispensary locations to augment the strong sales of its existing Hanover dispensary.  In Michigan, the Company enhanced the cultivation team on the ground with the engagement of Freedom Town. Finally, in Texas, the Company recently secured an extension of its convertible notes to allow the Company to continue to seek longer-term solutions there.  The Company reiterates its full year 2020 outlook for consolidated revenues in the range of $55 million to $60 million and Adjusted EBITDA of approximately $14 million. The forecast is based on projected revenues of at least $45 million for Cansortium’s Florida operations with additional revenue from the Michigan, Pennsylvania and Texas markets. 


ABOUT CANSORTIUM INC.

Headquartered in Miami, Florida, and operating under the Fluent™ brand, Cansortium is focused on being the highest quality cannabis company in the State of Florida driven by unrelenting commitment to operational excellence from seed to sale. Cansortium has developed strong proficiencies in each of cultivation, processing, retail, and distribution activities, the result of successfully operating in the highly regulated cannabis industry. In addition to Florida, Cansortium is seeking to create significant shareholder value in the attractive markets of Texas, Michigan and Pennsylvania.

Cansortium Inc.’s common shares and warrants trade on the CSE under the symbol “TIUM.U” and “TIUM.WT.U”, respectively, and on the OTCQB Venture Market under the symbol (OTCQB: CNTMF). Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.

Conference Call

The Company will host a conference call and live audio webcast on, November 24, 2020 at 5:00 P.M. Eastern time, to discuss its third quarter 2020 financial results.

All interested parties can join the conference call by dialing 1-800-319-4610 (Canada/USA) or +1-604-638-5340 (international). Callers should dial in 5 to 10 minutes prior to the scheduled start time and ask to join the call. A live audio webcast of the conference call will be available at: http://services.choruscall.ca/links/cansortium20201123.html

Forward-Looking Information

All projections related to anticipated future results are forward-looking in nature and are subject to risks and uncertainties that may cause actual results to differ, perhaps materially. Projections are predicated on the Company’s ability to continue successfully implementing the strategic growth and cost-saving initiatives identified by the Special Committee of the Board. In addition, projections are based on the Company’s ability to secure and effectively deploy its capital resources toward those initiatives.

Certain information in this news release, may constitute forward-looking information. 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 the Company as of the date of this news 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 the public documents of the Company available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; 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 news release are made as of the date of this news release, and the Company 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.

Financial Tables Follow 


Cansortium Inc.


Consolidated Statements of Financial Position


As of September 30, 2020 and December 31, 2019


(USD ‘000)


 September 30, 


 December 31, 


2020


2019


Assets

Current assets

Cash and cash equivalents

$

4,072

$

2,516

Accounts receivable

65

144

Inventory

9,574

6,709

Biological assets

6,128

3,845

Note receivable

4,895

3,870

Prepaid expenses and other current assets

1,311

556

Total current assets

26,045

17,640

Investment held for sale

324

Assets held for sale

6,301

Property and equipment, net

18,677

19,128

Intangible assets, net

97,418

98,566

Right-of-use assets

19,410

20,190

Investment in associate

3,043

3,424

Goodwill

1,526

1,526

Other assets

390

291


Total assets

$


166,833


$


167,066


Liabilities

Current liabilities

Accounts payable

4,558

7,860

Accrued liabilities

4,107

5,135

Income taxes payable

6,401

1,492

Derivative liabilities

13,436

13,198

Current portion of notes payable

37,211

9,350

Lease obligations

1,979

1,761

Other current liabilities

350

Total current liabilities

68,042

38,796

Liabilities held for sale

3,240

Notes payable, net of current portion

12,695

31,053

Lease obligations, net of current portion

20,728

21,166

Deferred income taxes

26,657

24,957

Other long-term liabilities

468

676

Total liabilities


128,590


119,888


Shareholders’ equity

Share capital

147,846

149,322

Share-based compensation reserve

4,148

2,977

Equity conversion feature

12,250

7,613

Warrants

13,265

11,773

Accumulated deficit

(138,891)

(123,785)

Accumulated other comprehensive loss

(375)

(563)

Total shareholders’ equity attributable to Cansortium Inc. shareholders

38,243

47,337

Non-controlling interests

(159)

Total shareholders’ equity 

38,243

47,178


Total liabilities and shareholders’ equity


$


166,833


$


167,066

 


Cansortium Inc.


Consolidated Statement of Operations


For the three and nine months ended September 30, 2020 and 2019


(USD ‘000)


For the three months
ended September 30,  


For the nine months
ended September 30,  


2020


2019


2020


2019

Revenue, net of discounts

$

14,313

$

7,387

$

37,718

$

19,005

Cost of goods sold

4,784

2,722

13,011

6,822

Gross profit before fair value adjustments

9,529

4,665

24,707

12,183

Realized fair value of increments on inventory sold

6,051

3,341

18,566

6,692

Unrealized change in fair value of biological assets

(4,263)

(1,109)

(23,945)

(3,182)

Gross profit

7,741

2,433

30,086

8,673

Expenses

General and administrative

2,861

4,362

9,064

19,384

Share-based compensation

1,689

258

4,938

1,744

Sales and marketing

3,561

3,348

10,162

8,972

Depreciation and amortization

1,561

2,549

4,635

7,250

Total expenses

9,672

10,517

28,799

37,350

Income (loss) from operations

(1,931)

(8,084)

1,287

(28,677)

Discontinued operations

236

(106)

Other expense (income)

Interest expense, net

3,892

2,926

11,448

9,786

Change in fair market value of derivative

673

(2,631)

1,680

(6,172)

Loss on investment in associate

166

381

Gain in fair market value of investment in associate

(3,388)

Loss on debt restructuring

8,065

Loss on disposal of assets

710

2,205

656

2,205

Other expense

1

257

7

285

Total other expense (income)

5,442

2,757

22,237

2,716

Loss before taxes

(7,609)

(10,841)

(20,844)

(31,393)

Income taxes

1,281

432

7,422

1,708

Net loss

(8,890)

(11,273)

(28,266)

(33,101)

Net income (loss) attributable to non-controlling interest

83

(204)

Net loss attributable to controlling interest

$

(8,890)

$

(11,356)

$

(28,266)

$

(32,897)

Net loss per share

Basic

$

(0.04)

$

(0.06)

$

(0.14)

$

(0.18)

Diluted

$

(0.04)

$

(0.06)

$

(0.14)

$

(0.18)

 


Cansortium Inc.


Consolidated Statement of Cash Flows


For the nine months ended September 30, 2020 and 2019


(USD ‘000)


For the nine months
ended September 30,


2020


2019


Operating activities

Net loss

$

(28,266)

$

(33,101)

Adjustments to reconcile net loss to net cash used in operating activities:

Unrealized gain on changes in fair value of biological assets

(23,945)

(3,182)

Share-based compensation

4,938

2,005

Depreciation and amortization

6,146

8,252

Discontinued operations

(106)

Amortization of debt discount

4,497

Accretion of convertible debentures

5,974

Interest on lease liabilities

3,324

Change in fair market value of derivative

1,680

(6,172)

Loss on investment in associate

381

Gain in fair market value of investment in associate

(3,388)

Loss on debt restructuring

8,066

Loss on disposal of assets

656

2,205

Deferred tax expense

1,700

Changes in operating assets and liabilities:

Accounts receivable

79

(51)

Inventory

(2,930)

(3,715)

Biological assets

21,662

2,746

Prepaid expenses and other current assets

(492)

(5,561)

Right-of-use assets

(1,439)

Other assets

(99)

(1,116)

Accounts payable

(309)

102

Accrued liabilities

2,205

(3,357)

Income taxes payable

4,909

1,838

Lease obligations

1,772

Other current liabilities

(251)

398

Other liabilities

(160)

Net cash provided by (used in) operating activities

3,723

(35,828)


Investing activities

Purchases of property and equipment

(3,136)

(12,558)

Purchase of intangible assets

(319)

Payment of notes receivable

350

Notes receivable

(1,375)

Proceeds from sale of subsidiary

600

Net cash used in investing activities

(3,561)

(12,877)


Financing activities

Proceeds from IPO

56,178

Proceeds from issuance of shares and warrants

4,351

Proceeds from issuance of notes payable

62

41,006

Payment of lease obligations

(3,207)

921

Interest repayments of notes payable

Principal repayments of notes payable

(46,353)

Net cash provided by financing activities

1,206

51,752

Effect of foreign exchange on cash and cash equivalents

188

(59)

Net increase in cash and cash equivalents

1,556

2,988

Cash and cash equivalents, beginning of period

2,516

2,026

Cash and cash equivalents, end of period

$

4,072

$

5,014

Cash paid during the period for interest

$

2,457

$

585

Non-cash transactions:

Issuance of shares to acquire additional interest in consolidated entity

$

$

13,786

Shares returns for sale of interest in subsidiaries

$

(4,374)

$

Founders shares return

$

(10,970)

$

Note payable amendment

$

10,380

$

Issuance of share for convertible debentures amendment

$

2,082

$

 


Cansortium Inc.


Financial Highlights


For the three and nine months ended September 30, 2020 and 2019


(USD ‘000)


Three months ended


Nine months ended


Financial results


September
30, 2020


September
30, 2019


Variance


September
30, 2020


September
30, 2019


Variance

Revenue

$

14,313

$

7,387

$

6,926

$

37,718

$

19,005

$

18,713

Gross profit

$

7,741

$

2,433

$

5,308

$

30,086

$

8,673

$

21,413

Gross margin


54.1%


32.9%


21.1%


79.8%


45.6%


34.1%

Adjusted gross profit (1)

$

9,529

$

4,665

$

4,864

$

24,707

$

12,183

$

12,524

Adjusted gross margin (1)


66.6%


63.2%


3.4%


65.5%


64.1%


1.4%

Selling, general and administrative expenses

$

9,672

$

10,517

$

(845)

$

28,799

$

37,350

$

(8,552)

EBITDA (1)

$

(1,617)

$

(4,483)

$

2,867

$

(3,243)

$

(11,854)

$

8,611

Adjusted EBITDA (1)

$

3,645

$

(2,095)

$

5,740

$

6,990

$

(7,224)

$

14,215

Net loss

$

(8,890)

$

(11,273)

$

2,383

$

(28,266)

$

(33,101)

$

4,835

Net loss per share (basic)

$

(0.04)

$

(0.06)

$

0.01

$

(0.14)

$

(0.18)

$

0.04

Net loss per share (diluted)

$

(0.04)

$

(0.06)

$

0.01

$

(0.14)

$

(0.18)

$

0.04

(1)

Adjusted gross profit, adjusted gross margin, EBITDA and Adjusted EBITDA are non-IFRS financial measures that do not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. Refer to the reconciliation to IFRS and quarterly results of operations sections at the Company’s Management Discussion and Analysis document for reconciliation to IFRS.

Cansortium Inc.
Reconciliation of non-IFRS financial measures
For the three and nine months ended September 30, 2020 and 2019
(USD ‘000)


EBITDA

EBITDA is a non-IFRS financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. The Company calculates EBITDA from net income (loss), plus (minus) interest expense (income), plus income taxes, plus depreciation and amortization, as follows:


Three months ended


Nine months ended


September



30, 2020


September



30,
2019


Variance


September



30, 2020


September



30, 2019


Variance

Net loss

$

(8,890)

$

(11,273)

$

2,383

$

(28,266)

$

(33,101)

$

4,835

Interest expense

3,892

2,926

966

11,448

9,786

1,662

Income taxes

1,281

432

849

7,422

1,708

5,714

Depreciation and amortization

2,100

3,432

(1,332)

6,153

9,753

(3,600)

EBITDA

$

(1,617)

$

(4,483)

$

2,866

$

(3,243)

$

(11,854)

$

8,611


Adjusted EBITDA

Adjusted EBITDA is a non-IFRS financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies. The Company calculates adjusted EBITDA from EBITDA plus (minus) unrealized loss (gain) on embedded derivatives, plus (minus) certain one-time non-operating expenses, as determined by management. The reconciliation from EBITDA to Adjusted EBITDA is as follows:


Three months ended


Nine months ended


September
30, 2020


September
30, 2019


Variance


September
30, 2020


September
30, 2019


Variance

EBITDA

$

(1,617)

$

(4,483)

$

2,866

$

(3,243)

$

(11,854)

$

8,611

Change in fair value of biological assets

1,788

2,232

(444)

(5,379)

3,510

(8,889)

Change in fair market value of derivative

673

(2,631)

3,304

1,680

(6,172)

7,852

Gain in fair value of investment in associate

(3,388)

3,388

Share-based compensation

1,689

258

1,431

4,938

1,744

3,194

Discontinued operations

236

236

(106)

(106)

Loss on debt restructuring

8,065

8,065

Other non-recurring expense

876

2,530

(1,654)

1,035

8,935

(7,900)

Adjusted EBITDA

$

3,645

$

(2,095)

$

5,740

$

6,990

$

(7,224)

$

14,215

 

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SOURCE Cansortium Inc

Cigna Affordable Care Act Health Plans to Expand into 63 New Counties Across North Carolina for 2021

– 2021 Open Enrollment Period (OEP) is now through Dec. 15

– New plan benefits include $0 virtual care – including for behavioral health providers, and additional $0 benefits for diabetes equipment and supplies are part of new plan benefits

– Cigna’s 2021 growth in North Carolina is the largest expansion by any carrier in the state

PR Newswire

RALEIGH, N.C., Nov. 23, 2020 /PRNewswire/ — Cigna is expanding access to health coverage through the Affordable Care Act (ACA) marketplace in 63 counties across North Carolina for 2021. Cigna’s plans on the individual exchange will include a number of features that increase access to quality health care – all while holding down out-of-pocket costs.

Cigna individual and family plans in North Carolina for 2021 will include:

  • New: $0 virtual care that now includes behavioral health providers* for most plans
  • New: Diabetes Care plan** that includes additional $0 benefits for diabetes equipment and supplies
  • New: access to Duke Health and WakeMed for health plans in the RaleighDurham area

Cigna is expanding into the following counties for 2021:

  • Raleigh / Durham area: Alamance, Durham, Franklin, Granville, Lee, Person, Vance and Warren.
  • Avery, Beaufort, Bertie, Bladen, Buncombe, Camden, Carteret, Cherokee, Chowan, Clay, Craven, Cumberland, Currituck, Dare, Duplin, Edgecombe, Gates, Graham, Greene, Halifax, Harnett, Haywood, Henderson, Hertford, Hoke, Hyde, Jackson, Jones, Lenoir, Macon, Madison, Martin, McDowell, Mitchell, Montgomery, Moore, Northampton, Onslow, Pamlico, Pasquotank, Perquimans, Pitt, Polk, Richmond, Robeson, Rutherford, Sampson, Scotland, Swain, Transylvania, Tyrell, Washington, Wayne, Wilson, and Yancey.

Cigna plans are currently offered in five counties: Chatham, Johnston, Nash, Orange and Wake. This expansion will bring the total to 68 counties, enabling Cigna to continue making health care more affordable, predictable and simple for more people across the state.  

“Cigna has participated in the individual market in North Carolina since 2014, and we are excited to serve even more people with affordable individual and family health plans in the future,” said Charles Pitts, Cigna market president for the Carolinas.

Cigna’s 2021 plans will again include the Patient Assurance Program*** to cap insulin costs at $25 per month for a 30-day supply of covered eligible insulin, as well as smarter digital interactions to better connect customers to care and medications – including access to the myCigna mobile app and Cigna One Guide to help customers navigate the highest quality and cost-effective providers, best sites of care and health tools.

Cigna’s real time benefit check program will increase financial predictability for customers. With this program, doctors can quickly and easily know the cost of treatment options during an appointment with a Cigna customer, which helps facilitate more informed and meaningful discussions among doctors and patients.

“Cigna remains deeply committed to providing affordable access to quality care with offerings that encourage and support whole-person health – how, when and where our customers want to use their benefits,” said Lisa Lough, president of Cigna’s Individual and Family Plans business. “Our plans on the individual exchange in North Carolina are designed with an understanding of our customers’ needs and preferences for their health care, delivered in a collaborative relationship with physician partners across the state.”

People interested in enrolling in a health plan on the individual exchange may do so during the 2021 Open Enrollment Period (OEP) that begins Nov. 1 and continues through Dec. 15. Health plans purchased during OEP are effective Jan. 1, 2021.

More details about Cigna health plans for individuals and families is available at www.cigna.com/individuals-families.

*Cigna provides access to virtual care through a national telehealth provider, MDLive located on myCigna, as part of your health plan. Providers are solely responsible for any treatment provided to their patients. Video chat may not be available in all areas or with all providers. This service is separate from your health plan’s network and may not be available in all areas or under all plan types. Virtual care does not guarantee that a prescription will be written. Refer to plan documents for complete description of virtual care services and costs, including other telehealth/telemedicine benefits. A primary care provider referral is not required for this service.
**Refer to plan documents for a complete description and list of diabetes equipment and supplies that are covered at $0.
***Discounts available with the Cigna Patient Assurance Program. $25 is the maximum out-of-pocket cost for a 30-day supply.

About Cigna
Cigna Corporation (NYSE: CI) is a global health service company dedicated to improving the health, well-being and peace of mind of those we serve. Cigna delivers choice, predictability, affordability and access to quality care through integrated capabilities and connected, personalized solutions that advance whole person health. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company, Cigna Life Insurance Company of New York, Connecticut General Life Insurance Company, Evernorth companies or their affiliates, Express Scripts companies or their affiliates, and Life Insurance Company of North America. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance. 

Cigna maintains sales capability in over 30 countries and jurisdictions, and has approximately 190 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.

Media Contact:

Holly Fussell

423-304-9128


[email protected]

 

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SOURCE Cigna

DISH Selects Mavenir To Deliver Cloud-Native Voice, Data And Messaging Services Software For Nationwide 5G Network

PR Newswire

ENGLEWOOD, Colo. and RICHARDSON, Texas, Nov. 23, 2020 /PRNewswire/ — Mavenir today announced that DISH Network has selected Mavenir’s cloud-based carrier messaging solution, which leverages Rich Communication Services (RCS) and Messaging-as-a-Platform (MaaP) technologies. Building upon the companies’ RAN announcement earlier this year, Mavenir is providing DISH with highly-scalable and intelligent cloud-native software in a virtualized, automated environment, leveraging open interfaces and artificial intelligence (AI). 

DISH will deploy Mavenir’s RCS Business Messaging solution, which will enable advanced voice and multimedia messaging (including cloud-native video, VoWiFi and VoLTE), to deliver best-in-class customer support capabilities.  Using AI and chatbots, customers will have access to services from an app where they can engage virtual assistants to answer questions, investigate and modify subscription plans, and participate in promotions.

“Mavenir’s innovative, cloud-native software solutions are compliant with our reimagined network architecture, which enables us to change the wireless business model and select vendor services and functions on demand,” said Marc Rouanne, DISH Executive Vice President and Chief Network Officer. “Mavenir is already playing an important role in our RAN software, and with this agreement we now look to them for messaging services, and beyond.”

“We are  honored to be partnering with DISH as they set the new standard for the U.S. wireless industry, building a transformative network that will be highly automated, efficient, and scalable,” said Pardeep Kohli, President and CEO of Mavenir. “We will enable DISH to provide innovative 5G services on demand, addressing new enterprise use cases based on network slicing and features with agility, speed and automation at a significantly lower cost compared to traditional operators.”

About DISH: 

DISH Network Corporation is a connectivity company. Since 1980, it has served as a disruptive force, driving innovation and value on behalf of consumers. Through its subsidiaries, the company provides television entertainment and award-winning technology to millions of customers with its satellite DISH TV and streaming SLING TV services. In 2020, the company became a nationwide U.S. wireless carrier through the acquisition of Boost Mobile. DISH continues to innovate in wireless, building the nation’s first cloud-native, Open RAN-based 5G broadband network. DISH Network Corporation (NASDAQ: DISH) is a Fortune 250 company.

About Mavenir:

Mavenir is the industry’s only end-to-end, cloud-native Network Software and Solutions/Systems Integration Provider, focused on accelerating software network transformation for Communications Service Providers (CSPs). Mavenir offers a comprehensive end-to-end product portfolio across every layer of the network infrastructure stack. From 5G application/service layers to packet core and RAN, Mavenir leads the way in evolved, cloud-native networking solutions enabling innovative and secure experiences for end users. Leveraging innovations in IMS (VoLTE, VoWiFi, Advanced Messaging (RCS)), Private Networks as well as vEPC, 5G Core and OpenRAN vRAN, Mavenir accelerates network transformation for more than 250+ CSP customers in over 120 countries, which serve over 50% of the world’s subscribers.

Mavenir embraces disruptive, innovative technology architectures and business models that drive service agility, flexibility, and velocity. With solutions that propel NFV evolution to achieve web-scale economics, Mavenir offers solutions to help CSPs with cost reduction, revenue generation, and revenue protection. www.mavenir.com

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SOURCE DISH Network Corporation