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Curaleaf Announces “Feed the Block” Program to Address Hunger in Several States

PR Newswire


Part of “Rooted in Good” CSR Platform, “Feed the Block” Gives Back Through Strategic Social Partnerships with Local Organizations Focused on Food Insecurity

WAKEFIELD, Mass., Nov. 23, 2020 /PRNewswire/ — Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading U.S. provider of consumer products in cannabis, today announced a multi-state fundraising initiative in which proceeds will benefit 24 locally run food banks, homeless shelters and nonprofits working to proactively address the needs of those facing food insecurity in communities across America. This effort is a part of the Strategic Social Partnerships pillar within Curaleaf’s “Rooted in Good” Corporate Social Responsibility platform.

From November 21 to December 5, 2020, Curaleaf is accepting donations in 90 Curaleaf retail locations to benefit local organizations targeting hunger, with a commitment to match a percentage of the total raised in each of its 23 states. As a part of “Feed the Block,” Curaleaf will accompany donations with activations on the ground in key markets by partnering with local grocers and nonprofits to provide food to neighborhoods in need. Further community support by way of direct meal donations will be deployed in Florida, Illinois, Maryland, Massachusetts, Maine, Nevada, New Jersey, and Pennsylvania, in addition to the fiscal donations happening across the country.

Prior to COVID-19, 37 million people in the U.S. struggled with hunger across the United States, and Feeding America estimates that as a result of the pandemic, that number may rise to 54 million people in 2021.

“It’s our responsibility as the leading multi-state cannabis operator to really understand the needs within our communities,” said Curaleaf President Joe Bayern. “The core of our focus at Curaleaf is on the health and wellness of our customers and patients, and holistic community health is not possible if all of our citizens do not have their basic needs met. We’re proud to support our communities with ‘Feed the Block’ in partnership with 24 organizations across the country this year.”

Curaleaf will continue to build on its “Rooted in Good” program, focusing on its four pillars throughout the year: Diversity, Equity & Inclusion, Social Equity, Sustainability/Environment and Strategic Social Partnerships. As a part of its Strategic Social Partnerships pillar, the Company will focus on food insecurity, social justice, wellness, cannabis education and health across the country.

“With ‘Rooted in Good,’ we’re focused on developing social impact work that meets the needs of our communities at the deepest level. Each of our ‘Feed the Block’ partners was evaluated to ensure they directly reach the communities most impacted by food insecurity in the cities and states that Curaleaf operates,” shared VP of Corporate Social Responsibility Khadijah Tribble. “Our strategic partners help us maximize community impact and demonstrate our values as a company that believes in the power of doing the right thing.”

As a part of this program, Curaleaf is intentionally working with organizations that are supporting those with the greatest needs via direct donations of nutritional food to its local communities. This is a critical piece of Curaleaf’s Supplier Diversity Program, in which the Company commits to having holistic partnerships with brands, ancillary businesses, and suppliers owned by individuals from communities disproportionately impacted by the War on Drugs across the country. For example, Curaleaf Florida is partnering with I SEE U, a local non-profit focused on giving back to the community in meaningful ways. Together, they will distribute over 400 turkeys to families in need through the Live Like Bella Childhood Cancer Foundation database. 

Curaleaf will continue to expand on its “Rooted in Good” CSR efforts throughout late 2020 and 2021. To learn more about how “Feed the Block” will impact local communities, a state-by-state breakdown can be viewed online here.

About Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”) is a leading U.S. provider of consumer products in cannabis, with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a vertically integrated, high-growth cannabis operator known for quality, expertise and reliability, the company and its brands, including Curaleaf and Select provide industry-leading service, product selection and accessibility across the medical and adult-use markets. Curaleaf currently operates in 23 states with 95 dispensaries, 23 cultivation sites and over 30 processing sites, and employs over 3,000 team members across the United States. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information please visit www.curaleaf.com.

INVESTOR CONTACT
Curaleaf Holdings, Inc.
Dan Foley, VP, Finance and Investor Relations
[email protected]

MEDIA CONTACT
Curaleaf Holdings, Inc.
Tracy Brady, VP Corporate Communications
[email protected]

FORWARD LOOKING STATEMENTS

This media advisory contains forward–looking statements and forward–looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as “plans”, ” expects” or, “proposed”, “is expected”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward–looking statements and information concerning Curaleaf’s Feed the Block initiative. Such forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under “Risk Factors and Uncertainties” in the Company’s latest annual information form filed September 25, 2020, which is available under the Company’s SEDAR profile at www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

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SOURCE Curaleaf Holdings, Inc.

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Cardiff Oncology to Participate in Fireside Chat at the Piper Sandler 32nd Annual Healthcare Conference

PR Newswire

SAN DIEGO, Nov. 23, 2020 /PRNewswire/ — Cardiff Oncology, Inc. (Nasdaq: CRDF), a clinical-stage biotechnology company developing a drug to treat cancers with the greatest medical need for new treatment options, including KRAS-mutated colorectal cancer, castration-resistant prostate cancer and leukemia, today announced that the Company will be participating in the upcoming Piper Sandler 32nd Annual Virtual Healthcare Conference. Beginning today, November 23rd, a pre-recorded fireside chat with company management will be available for viewing anytime through December 3rd by accessing the recording library on the Piper Sandler conference site.

Cardiff Oncology will also be participating in 1×1 meetings from December 1st – 3rd.  Meetings can be requested exclusively via Piper Sandler.

About Cardiff Oncology, Inc.
Cardiff Oncology (formerly Trovagene, Inc.) is a clinical-stage biotechnology company with the singular mission of developing new treatment options for cancer patients in indications with the greatest medical need.  Our goal is to overcome resistance, improve response to treatment and increase overall survival.  We are developing onvansertib, a first-in-class, third-generation Polo-like Kinase 1 (PLK1) inhibitor, in combination with standard-of-care chemotherapy and targeted therapeutics.  Our clinical development programs incorporate tumor genomics and biomarker technology to enable assessment of patient response to treatment. We have three ongoing clinical programs that are demonstrating the safety and efficacy of onvansertib: a Phase 1b/2 study of onvansertib in combination with FOLFIRI/Avastin® in KRAS-mutated metastatic colorectal cancer (mCRC); a Phase 2 study of onvansertib in combination with Zytiga® (abiraterone)/prednisone in metastatic castration-resistant prostate cancer (mCRPC); and a Phase 2 study of onvansertib in combination with decitabine in relapsed or refractory acute myeloid leukemia (AML). For more information, please visit https://cardiffoncology.com.  


Cardiff Oncology Contact:


Vicki Kelemen

EVP and Chief Operating Officer
858-952-7652
[email protected]  


Investor Contact:


Joyce Allaire

LifeSci Advisors
212-915-2569
[email protected] 


Media Contact:


Karen O’Shea, Ph.D.
LifeSci Communications
929-469-3860
[email protected] 

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SOURCE Cardiff Oncology, Inc.

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IOU Financial Inc. Reports Third Quarter 2020 Financial Results

PR Newswire

  • On a sequential basis, loan originations doubled to US$18.4 million in Q3 2020 from US$9.2 million in Q2 2020 as IOU gradually resumed loan originations to more businesses and geographical areas in the US.
  • Subsequent to quarter end, IOU entered into a loan purchase agreement of up to US$150 million with a fund managed by Neuberger Berman enabling IOU to capitalize on the eventual economic recovery.
  • IOU’s corporate cash position continues to remain stable at $5.3 million since the onset of the pandemic due to cost reductions, government payroll assistance, recoveries of previously charged off loans, and a temporary reduction in the convertible interest expense.

MONTRÉAL, Nov. 23, 2020 /PRNewswire/ – IOU FINANCIAL INC. (“IOU” or “the Company”) (TSX-V: IOU), a leading online lender to small businesses (IOUFinancial.com), announced today its results for the three and nine-month period ended September 30, 2020.

Despite the setback caused by the COVID-19 pandemic, the Company is working to bring its loan origination volumes back to pre-pandemic levels and a return to profitability on an annual basis.  In Q1 2020, the Company originated US$38.1 million in loans and then hit low of US$9.2 million in Q2 2020 due to the COVID-19 pandemic.  However, in Q3 2020, loan originations increased to US$18.4 million as IOU gradually resumed lending to more businesses and geographical areas in the US. 

In-line with its plan to bring back its loan origination volumes to pre-pandemic levels, subsequent to quarter-end, IOU announced that it had closed a loan purchase agreement with a fund managed by Neuberger Berman of up to US$150 million.  The loan purchase agreement significantly bolsters IOU’s funding capabilities and puts the Company in an excellent position to capitalize on the eventual economic recovery.

Although the Company had previously guided to growing its loan portfolio, the COVID-19 pandemic and its impact on IOU’s loan portfolio had dictated an adjustment to the Company’s funding strategy to reduce the loan portfolio in favour of the servicing portfolio.  Nevertheless, the Company plans to continue to maintain diversified sources of capital to fund both its loan portfolio and servicing portfolio (loans being serviced on behalf of third parties). 

IOU entered the COVID-19 pandemic in a strong financial position and has worked hard to maintain this position.  Specifically, IOU’s corporate cash position has remained stable at $5.3 million since the onset of the pandemic due to cost reductions, government payroll assistance, recoveries of previously charged off loans and a temporary reduction in the convertible interest expense.  In Q1 2020, adjusted operating expenses were $2.6 million.  In Q2 2020, adjusted operating expenses decreased 30.0% to $1.8 million.  In Q3 2020, adjusted operating expenses increased by 21.2% to $2.2 million as the Company started to gradually reinvest in growth initiatives but remained significantly lower than pre-pandemic levels.  

“Despite the continued challenges of COVID-19, we witnessed improved loan origination growth in Q3 2020 over Q2 2020 and continue to benefit from our strong liquidity position and our diversified and supportive sources of capital. IOU is well positioned to capitalize on the eventual economic recovery and to generate growing volumes of higher-quality loans,” said Phil Marleau, CEO.

FINANCIAL HIGHLIGHTS        

  • Please refer to the table below for adjustments made to IFRS gross revenue and operating expenses in order to better reflect the actual operating performance of the business.
  • In the third quarter of 2020, the Company doubled its loan originations to US$18.4 million in loans from Q2 2020 as IOU gradually resumed loan originations to more businesses and geographical areas in the US. Q3 2020 loan originations represent a decrease of 55.5% over Q3 2019 (US$41.4 million). For the first nine months of 2020, the Company funded US$65.7 million in loans (2019: US $112.7 million), representing a decrease of 41.7% over the same period last year. The decrease in loan originations was a result of the COVID-19 pandemic whereby IOU modified its underwriting standards to cease lending to industries and geographical areas which were strongly impacted by COVID-19.
  • As at September 30, 2020, total loans under management amounted to $77.7 million (2019: $108.0 million), representing a decrease of 28.0% year over year and is attributable to the decrease in loan originations in the first nine months of 2020 of 41.7% compared to the same period in 2019. The principal balance of the loan portfolio amounted to $20.8 million (2019: $54.5 million), representing a decrease of 61.8%. The principal balance of IOU Financial’s servicing portfolio (loans being serviced on behalf of third parties) amounted to $56.9 million (2019: $53.4 million), representing an increase of 6.5%.
  • Adjusted gross revenue decreased 43.9% to $3.8 million for the three-month period ended September 30, 2020 compared to Q3 2019 ($6.8 million) due to a decrease in interest revenue and servicing income. Adjusted gross revenue decreased to $14.9 million (2019: $17.4 million), representing a decrease of 14.2% for the nine-month period ended September 30, 2020 compared to the same period in 2019.
  • Interest revenue decreased 53.3% to $2.4 million in Q3 2020 compared to the same period in 2019 largely as a result of a decrease in the principal balance of the loan portfolio as well as a decrease in portfolio yield from 39.7% in Q3 2019 to 29.9% in Q3 2020. The decrease in portfolio yield is due in part to the Company effecting modified payment plans with clients due to the COVID-19 pandemic commencing in March 2020.
  • Servicing income decreased 22.7% to $0.9 million in Q3 2020 compared to Q3 2019 as a result of the decrease in the servicing portfolio yield from 9.0% in Q3 2019 to 6.8% in Q3 2020. The decrease in servicing yield is due largely to the Company effecting modified payments plans with merchants due to the COVID-19 pandemic commencing in March 2020.
  • Interest expense during the three-month period ended September 30, 2020 decreased 48.4% to $0.5 million (2019: $1.1 million). The decrease is attributable to a decrease in average borrowings of 44.1% in Q3 2020 compared to Q3 2019 and to the decrease in the Cost of Borrowing Rate to 9.6% in Q3 2020 from 10.4% in Q3 2019. Interest expense during the nine-month period ended September 30, 2020 decreased 15.0% to $2.5 million (2019: $2.9 million).
  • Provision for loan losses during the three-month period ended September 30, 2020 decreased to ($0.7) million (2019: $2.4 million). At the onset of the COVID-19 pandemic in March 2020, the Company increased the allowance for expected credit losses based on its standard provision methodology. The reversal in the provision for loan losses in Q3 2020 is attributable to a decrease in actual delinquencies since the beginning of the COVID-19 pandemic as well as to the decrease, on a sequential basis, in commercial loans receivable in the Stage 3 provision category from $24.6 million in Q2 2020 to $16.8 million in Q3 2020. Provision for loan losses increased to $9.4 million for the nine-month period ended September 30, 2020 (2019: $5.7 million).
  • The Net Credit Loss Rate increased from 12.6% in the third quarter of 2019 to 22.2% in the third quarter of 2020 due to increased charge offs as a result of the COVID-19 pandemic. However, on a sequential basis, the Net Credit Loss Rate decreased from 37.6% in Q2 2020 to 22.2% in Q3 2020. The Company also uses the Net Credit Loss Rate as another measure for loan losses as it excludes the effect of provisions (reductions) in the allowance for expected credit losses during the period which may not coincide with the actual timing of charge-offs and recoveries.
  • Adjusted operating expenses decreased 15.7% to $2.2 million in Q3 2020 compared to $2.6 million in Q3 2019 primarily due to measures taken at the beginning of Q2 2020 in response to the COVID-19 pandemic. On April 1, 2020, the Company furloughed approximately 40% of its full-time employees and implemented a temporary 20% reduction in salaries for all remaining employees as well as having managed certain vendors and discretionary costs resulting in decreased data services and IT costs as well as travel and entertainment expenses. The Adjusted Operating Expense Ratio, which is a measure of the Company’s operating efficiency, increased to 10.5% in the third quarter of 2020 (2019: 10.1%) as the decrease in operating expenses was at a lower rate than the decrease in the Company’s loans under management following the COVID-19 pandemic. Operating expenses increased to $2.3 million in Q3 2020 compared to $2.2 million in the same period in 2019. For the nine-month period ended September 30, 2020, adjusted operating expenses decreased 10.2% to $6.7 million (2019: $7.4 million) and the Adjusted Operating Expense Ratio decreased to 8.9% in the first nine months of 2020 from 9.9% in the first nine months of 2019.
  • IOU closed on its third quarter ended September 30, 2020 with adjusted net earnings of $1.7 million compared to adjusted net earnings of $0.8 million for the third quarter ended September 30, 2019. IOU closed on the nine-month period ended September 30, 2020 with adjusted net loss of $3.1 million, compared to adjusted net earnings of $1.5 million for the same period last year.
  • IOU closed on its third quarter ended September 30, 2020 with IFRS net earnings of $1.7 million, or $0.02 per share, compared to IFRS net earnings of $1.0 million or $0.01 per share for the same period in 2019. IOU closed on the nine-month period ended September 30, 2020 with IFRS net loss of $3.5 million, or ($0.04) per share, compared to IFRS net earnings of $1.3 million or $0.01 per share for the same period last year.


Adjusted and IFRS net (loss) earnings 

Three-Month

Nine-Month

For the period ended September 30


2020


$

2019

$


2020


$

2019

$

Interest revenue


2,411,178

5,165,303


11,195,852

12,663,112

Servicing & other income


1,400,536

1,634,082


3,738,211

4,752,084


Adjusted Gross Revenue


3,811,714

6,799,385


14,934,063

17,415,196

Interest expense


547,716

1,062,039


2,466,131

2,899,799

(Reversal) Provision for loan losses


(650,489)

2,367,101


9,405,065

5,712,484

Recoveries


(145,600)

(41,640)


(588,344)

(169,913)


Cost of Revenue


(248,373)

3,387,500


11,282,852

8,442,370


Adjusted Net Revenue


4,060,087

3,411,885


3,651,211

8,972,826

Adjusted operating expense


2,227,503

2,641,979


6,672,180

7,427,983

Income tax expense


85,845

–


85,845

–


Adjusted Net Earnings (Loss)


1,746,739

769,906


(3,106,814)

1,544,843


Adjusted Net Earnings (Loss) per Share


0.02

0.01


(0.04)

0.02


Adjusted Net Earnings (Loss)


1,746,739

769,906


(3,106,814)

1,544,843

Non-cash gain on sales of loans


791,402

734,264


1,998,956

2,356,397

Non-cash amortization of servicing asset


(781,519)

(938,051)


(2,375,369)

(2,844,177)

Non-cash stock-based compensation


(58,034)

(51,084)


(113,018)

(236,902)

Non-recurring gain


–

485,579


73,478

485,579


Net Earnings (Loss) per IFRS


1,698,588

1,000,614


(3,522,767)

1,305,740


Net Earnings (Loss) per Share


0.02

0.01


(0.04)

0.01

OUTLOOK

While the current unprecedented economic situation due to the pandemic remains uncertain, the Company continues to maintain diversified sources of capital as well as to manage its liquidity position with a view to emerging as a stronger business coming out of this downturn. Despite the setback caused by the COVID-19 pandemic, the Company is working to bring its loan origination volumes back to pre-pandemic levels and a return to profitability on an annual basis.

IOU’s financial statements and management discussion & analysis for the quarter ended September 30, 2020 have been filed on SEDAR and are available at www.sedar.com.

CONFERENCE CALL

The Company will hold a conference call at 4:30 (EST) on November 25, 2020, to discuss its financial results. The dial-in number to access the conference call from Canada and the United States is 1 (888) 231-8191 (toll-free), conference ID: 6663487

About IOU Financial Inc.

IOU Financial Inc. provides small businesses throughout the U.S. and Canada access to the capital they need to seize growth opportunities quickly. In a unique approach to lending, IOU Financial’s advanced, automated application and approval system accurately assesses applicants’ financial realities, with an emphasis on day-to-day cash flow trends. IOU Financial allows these businesses to apply for six, nine, twelve, fifteen and eighteen-month term loans of up to US$500,000 to qualified U.S. applicants ($150,000 in Canada) within a few business days, with affordable charges favorable to cash-flow management. Its speed and transparency make IOU Financial a trusted alternative to banks. To learn more visit:

IOUFinancial.com

.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of IOU including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. IOU does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.

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

Definitions

  • Adjusted gross revenue is defined as gross revenue prepared in accordance with IFRS for the period, plus amortization of servicing assets less gain on sale of loans. The Company uses adjusted gross revenue as it eliminates items that do not necessarily reflect how the Company is performing. Specifically, it eliminates the non-cash gain on sale of loans and the non-cash amortization of servicing assets which influence operating results depending on the timing and amount of the loan sales.
  • Portfolio Yield is calculated as follows: interest revenue divided by the average commercial loans receivable for the period presented on an annualized basis. The nine-month ratios are calculated on a four-point basis, using December, March, June and September period end balances, presented on an annualized basis.
  • Servicing Portfolio Yield is calculated as follows: servicing income divided by the average servicing portfolio for the period presented on an annualized basis. The nine-month ratios are calculated on a four-point basis, using December, March, June and September period end balances, presented on an annualized basis.
  • The Cost of Borrowing Rate is calculated as follows: interest expense divided by the average borrowings for the period, presented on an annualized basis. The nine-month ratios are calculated on a four-point basis, using December, March, June and September period end balances, presented on an annualized basis.
  • The Provisional Credit Loss rate is calculated as follows: provision for loan losses divided by the average commercial loans receivable for the period, presented on an annualized basis.
    The nine-month ratios are calculated on a four-point basis, using December, March, June and September period end balances, presented on an annualized basis.
  • The Net Credit Loss rate is calculated as follows: charge offs net of recoveries divided by the average commercial loans receivable for the period, presented on an annualized basis. The nine-month ratios are calculated on a four-point basis, using December, March, June and September period end balances, presented on an annualized basis. The Company uses the Net Credit Loss Rate as an alternative measure to the Provisional Credit Loss Rate as it excludes the effect of provisions (reductions) in the allowance for expected credit losses during the period which may not coincide with the actual timing of charge-offs and recoveries.
  • Adjusted operating expenses is calculated as follows: total operating expenses prepared in accordance with IFRS for the period less stock-based compensation and non-recurring costs, plus non-recurring gains. The nine-month ratios are calculated on a four-point basis, using December, March, June and September period end balances, presented on an annualized basis.
    The Company uses adjusted operating expenses as it
    eliminates items that do not necessarily reflect how the Company is performing. Specifically, it eliminates non-cash stock-based compensation which is given at different times and prices and non-recurring costs which affects operating results only periodically.
  • The Adjusted Operating Expense Ratio is calculated as follows: adjusted operating expenses divided by the average loans under management for the period, presented on an annualized basis.
    The nine-month ratios are calculated on a four-point basis, using December, March, June and September period end balances, presented on an annualized basis.
  • The calculation of adjusted net (loss) earnings is defined as net (loss) earnings for the period prepared in accordance with IFRS less: gain on sale of loans and non-recurring gains, plus: amortization of servicing assets, stock-based compensation and non-recurring costs.

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SOURCE IOU Financial Inc.

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The Boston Globe Names Nuance a “Top Place to Work for 2020”

PR Newswire

BURLINGTON, Mass., Nov. 23, 2020 /PRNewswire/ — Nuance Communications, Inc. (NASDAQ: NUAN) announced today that it has been named one of the “Top Places to Work for 2020” based on an employee survey conducted by The Boston Globe. The annual “Top Places to Work” survey asked more than 8,000 employees across 285 organizations in Massachusetts to evaluate their current employers on a series of criteria, including overall direction, execution, connection, management, work, pay and benefits, and engagement.

“Our employees are the reason that Nuance is an incredible place to work – they also are the reason that the largest companies in the world trust our conversational AI solutions to deliver real and meaningful results,” said Beth Conway, Executive Vice President and Chief People Officer.  “We are fiercely committed to cultivating an inclusive culture where everyone can thrive, and have benefits that empower, inspire, and support their varying needs.”

The Top Places to Work winners share several key traits, including offering progressive benefits, giving their employees a voice, and encouraging them to have some fun while they’re at it.

“Our shared sense of Purpose and how we choose to live our company Values every day sets Nuance apart,” said Mark Benjamin, CEO of Nuance. “When you truly practice things like Thinking Big, Focusing on the Customer, Acting with Integrity, and Having Fun – which are four of our 10 Values – they become part of the company’s DNA, inform how we all make decisions, and build our dynamic and supportive culture.” 

“This was a particularly challenging year to be a great place to work, and the companies that made our list went above and beyond to keep their employees safe, engaged, and cared for,” said Katie Johnston, the Globe’s Top Places to Work editor. “From offering help with childcare to making the workplace more equitable to holding virtual talent shows, these employers showed that the best get better in crisis.”

Top Places to Work online extras include sortable rankings and features such as showcasing companies that are going the extra mile to make their workplaces more equitable and to help employees connect with one another, and their communities, during the pandemic.

To learn more about Nuance and the career opportunities currently available, visit jobs.nuance.com.

About Nuance Communications, Inc.

Nuance Communications (NASDAQ: NUAN) is a technology pioneer with market leadership in conversational AI and ambient intelligence. A full-service partner trusted by 90 percent of U.S. hospitals and 85 percent of the Fortune 100 companies worldwide, Nuance creates intuitive solutions that amplify people’s ability to help others.

Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.

Media Contact

Nancy Scott

+1 781-565-4130
[email protected]

 

 

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SOURCE Nuance Communications, Inc.

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Special Olympics Georgia Receives $90,000 Grant from The UPS Foundation

PR Newswire

ATLANTA, Nov. 23, 2020 /PRNewswire/ — Special Olympics Georgia (SOGA) received a $90,000 grant from The UPS Foundation, which drives global corporate citizenship and philanthropic programs for UPS (NYSE: UPS).

The grant will be used toward the volunteer program for all four of the organization’s State Games. Eager to bring more volunteers to its events, SOGA is always striving to improve every volunteer experience. This grant will give SOGA the ability to invite more volunteers to join in the planning and implementation of events for its 26,620 athletes.

This grant is truly important as Special Olympics Georgia is a grassroots effort.  With only a small team of full-time employees, it takes a large and dedicated volunteer force to fulfill our mission and to make our State Games a reality.  Whether a volunteer can commit to a single afternoon or come for a full weekend to volunteer there is a place for everyone.

“Special Olympics Georgia deeply values the support of The UPS Foundation not only through this generous grant but through the demonstrated support from the UPS employees and their families who volunteer at our events. The overall volunteer initiative enhances everything that we do for the athletes” said Georgia Milton-Sheats, Chief Executive Officer of SOGA.

Established in 1951 and based in Atlanta, Ga., UPS leads its global citizenship programs and is responsible for facilitating community involvement to local, national, and global communities. In 2019, UPS and its employees, active and retired, invested more than $123.8 million in charitable giving around the world.  The UPS Foundation can be found on the web at UPS.com/foundation.  To get UPS news direct, visit pressroom.ups.com/RSS.

Log on to www.ups.com to find out more about UPS.

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SOURCE Special Olympics Georgia

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Host Hotels & Resorts Once Again Named to the Dow Jones Sustainability World Index (DJSI World)

BETHESDA, Md., Nov. 23, 2020 (GLOBE NEWSWIRE) — Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation’s largest lodging real estate investment trust (the “Company”), has been named to the DJSI World—which recognizes global sustainability leaders across all industries—for the second consecutive year. In addition, the Company has been included in the DJSI North America for the fourth consecutive year.

The DJSI World is comprised of corporate leaders in global sustainability and represents the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index based on long-term economic and environmental, social and governance (ESG) factors.

“To be included among the world’s sustainability leaders for the second year in a row—particularly in the midst of these challenging and uncertain times—is a testament to Host’s unwavering commitment to corporate responsibility and continued investment in environmental, social and governance initiatives that create long-term value for our stakeholders,” said Joanne Hamilton, executive vice president of Human Resources and Corporate Responsibility. “We are especially proud of this year’s results, which reflect our increased focus on social initiatives, leading up to the recent establishment of our 2025 social targets to complement our 2025 environmental targets.”

Launched in 1999, the Dow Jones Sustainability Indices (DJSI) were among the very first set of global indices to track the largest and leading sustainability-driven publicly listed companies. The indices measure the performance of companies against ESG criteria and serve as a global sustainability benchmark for investors. For more information, please visit the DJSI website.

To learn more about the Company’s commitment to Corporate Responsibility along with our strong results, performance and progress, view the 2020 Corporate Responsibility Report and the recently updated Corporate Responsibility pages on the Company website.

About Host Hotels & Resorts

Host Hotels & Resorts, Inc. is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 74 properties in the United States and five properties internationally totaling approximately 46,100 rooms. The Company also holds non-controlling interests in six domestic and one international joint ventures. Guided by a disciplined approach to capital allocation and aggressive asset management, the Company partners with premium brands such as Marriott®, Ritz-Carlton®, Westin®, Sheraton®, W®, St. Regis®, The Luxury Collection®, Hyatt®, Fairmont®, Hilton®, Swissôtel®, ibis® and Novotel®*, as well as independent brands. For additional information, please visit the Company’s website at www.hosthotels.com.

* This press release contains registered trademarks that are the exclusive property of their respective owners. None of the owners of these trademarks has any responsibility or liability for any information contained in this press release.

SOURAV GHOSH

Chief Financial Officer
(240) 744-5267

 TEJAL ENGMAN

Investor Relations
(240) 744-5116
[email protected]



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Jiayin Group Inc. to Release Third Quarter 2020 Unaudited Results on Monday, November 30, 2020

SHANGHAI, China, Nov. 23, 2020 (GLOBE NEWSWIRE) — Jiayin Group Inc. (“Jiayin” or “the Company” ) (NASDAQ: JFIN), a leading fintech platform in China, today announced that it will release its third quarter 2020 unaudited financial results on Monday, November 30, 2020, before the open of U.S. market.

The company will conduct a conference call on Monday, November 30, 2020 at 8:00 AM U.S. Eastern Time (9:00 PM Beijing/Hong Kong Time).

What: Jiayin Group Third Quarter 2020 Earnings Conference Call
   
When: 8:00 am U.S. Eastern Time on Monday, November 30th, 2020
   
Webcast: http://ir.jiayin-fintech.com/

Please register in advance to join the conference using the link provided below and dial in 10 minutes before the call is scheduled to begin. Conference access information will be provided upon registration.

Participant Online Registration:

http://apac.directeventreg.com/registration/event/5890747

A replay of the conference call may be accessed by phone at the following numbers until December 8, 2020. To access the replay, please reference the conference ID 5890747.

  Phone Number Toll-Free Number
United States +1 (646) 254-3697 +1 (855) 452-5696
Hong Kong +852 30512780 +852 800963117
Mainland China   +86 4006322162
+86 8008700205

A live and archived webcast of the conference call will be available on the company’s investors relations website at http://ir.jiayin-fintech.com/.

About Jiayin Group Inc.

Jiayin Group Inc. is a leading fintech platform in China committed to facilitating effective, transparent, secure and fast connections between investors and borrowers, whose needs are underserved by traditional financial institutions. The origin of the business of the Company can be traced back to 2011. The Company operates a highly secure and open platform with a comprehensive risk management system and a proprietary and effective risk assessment model which employs advanced big data analytics and sophisticated algorithms to accurately assess the risk profiles of potential borrowers.

For investor and media inquiries, please contact:

In China:

Jiayin Group

Ms. Shelley Bai

Email: [email protected]

or

The Blueshirt Group

Ms. Susie Wang

Email: [email protected]

In the U.S.:

Ms. Julia Qian

Email: [email protected] 



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Veru to Report Fiscal 2020 Fourth-Quarter, Full-Year Financial Results, Host Conference Call on December 9th

MIAMI, Nov. 23, 2020 (GLOBE NEWSWIRE) — Veru Inc. (NASDAQ: VERU), an oncology and urology biopharmaceutical company with a focus on developing novel medicines for the management of prostate cancer, today announced that it will report financial results for its fiscal 2020 fourth quarter and full year ended September 30, 2020, on Wednesday, December 9, 2020, before the market opens.   Veru’s management will host a conference call that same day at 8 a.m. ET to review the Company’s performance and to answer questions. The call will also be accessible via webcast.

Event Details

Interested parties may access the call by dialing 800-341-1602 from the U.S. or 412-902-6706 from outside the U.S. and asking to be joined into the Veru Inc. call.   The call will also be available through a live, listen-only audio broadcast via the Internet at www.verupharma.com. Listeners are encouraged to visit the website at least 10 minutes prior to the start of the scheduled presentation to register, download and install any necessary software. A playback of the call will be archived and accessible on the same website for at least three months.   A telephonic replay of the conference call will be available, beginning the same day at approximately 12 p.m. (noon) ET by dialing 877-344-7529 for U.S. callers, or 412-317-0088 from outside the U.S., passcode 10149625, for one week.

About Veru Inc.

Veru Inc. is an oncology and urology biopharmaceutical company with a focus on developing novel medicines for the management of prostate cancer. The Veru prostate cancer pipeline includes VERU-111, VERU-100, and Zuclomiphene citrate. VERU-111 is an oral, first-in-class, new chemical entity that targets, crosslinks, and disrupts alpha and beta tubulin subunits of microtubules. VERU-111 is being evaluated in an open label Phase 1b/Phase 2 clinical study in men with metastatic castration and androgen receptor targeting agent resistant prostate cancer. The Phase 1b clinical study completed enrollment of 39 men and is ongoing. The Phase 2 clinical trial has completed the enrollment of 40 men who have metastatic castration resistant prostate cancer and who have also become resistant to at least one novel androgen receptor targeting agent, such as abiraterone or enzalutamide, but prior to IV chemotherapy, and is ongoing. VERU-111 is also being evaluated in a Phase 2 clinical trial to assess the efficacy of VERU-111 in combating COVID-19. VERU-100 is a novel, proprietary peptide formulation designed to address the current limitations of commercially available androgen deprivation therapies (ADT) for advanced prostate cancer. VERU-100 is a long-acting gonadotropin-releasing hormone (GnRH) antagonist administered as a small volume, subcutaneous 3-month depot injection without a loading dose. VERU-100 immediately suppresses testosterone with no testosterone surge upon initial or repeated administration — a problem which occurs with currently approved luteinizing hormone-releasing hormone (LHRH) agonists used for ADT. There are no GnRH antagonists commercially approved beyond a one-month injection. A Phase 2 trial to evaluate VERU100 dosing is anticipated to begin in the first quarter of calendar year 2021. Zuclomiphene citrate is an oral nonsteroidal estrogen receptor agonist being developed to treat hot flashes, a common side effect caused by ADT in men with advanced prostate cancer. Following an End of Phase 2 meeting with the FDA, the Company plans to advance Zuclomiphene Citrate to a Phase 3 clinical trial in men with advanced prostate cancer who experience moderate to severe hot flashes.

Veru is also advancing a new drug formulation in its specialty pharmaceutical pipeline addressing unmet medical needs in urology such as the Tadalafil and Finasteride Combination (TADFYN®) for the administration of tadalafil 5mg and finasteride 5mg combination formulation dosed daily for benign prostatic hyperplasia (BPH). Tadalafil (CIALIS®) is currently approved for treatment of BPH and erectile dysfunction and finasteride is currently approved for treatment of BPH (finasteride 5mg PROSCAR®) and male pattern hair loss (finasteride 1mg PROPECIA®). The co-administration of tadalafil and finasteride has been shown to be more effective for the treatment of BPH than by finasteride alone. The Company expects to submit the NDA for TADFYN® in early calendar year 2021.

The Company’s commercial products include the FC2 Female Condom / FC2 Internal Condom® (“FC2”), an FDA-approved product for the dual protection against unwanted pregnancy and the transmission of sexually transmitted infections, and the PREBOOST® 4% benzocaine medicated individual wipe for the treatment of premature ejaculation. The Company’s Female Health Company Division markets and sells FC2 commercially and in the public health sector both in the U.S. and globally. In the U.S., FC2 is available by prescription through multiple third-party telemedicine and internet pharmacy providers and retail pharmacies. In the global public health sector, the Company markets FC2 to entities, including ministries of health, government health agencies, U.N. agencies, nonprofit organizations and commercial partners, that work to support and improve the lives, health and well-being of women around the world. PREBOOST® is marketed through online sales in the U.S. under the Roman Swipes brand name by Roman Health Ventures Inc. Roman is a leading telemedicine company that discreetly sells men’s health products via the internet website www.getroman.com. To learn more about Veru products please visit www.verupharma.com.


“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995:

The statements in this release that are not historical facts are “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release include statements regarding the regulatory pathway to secure FDA approval of the Company’s drug candidates, the anticipated timeframe for clinical studies and FDA submissions, and clinical study results including potential benefits and the absence of adverse events. Any forward-looking statements in this release are based upon the Company’s current plans and strategies and reflect the Company’s current assessment of the risks and uncertainties related to its business and are made as of the date of this release. The Company assumes no obligation to update any forward-looking statements contained in this release because of new information or future events, developments or circumstances. Such forward-looking statements are subject to known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our actual results could differ materially from those expressed or implied by such statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to, the following: risks related to the development of the Company’s product portfolio, including clinical trials, regulatory approvals and time and cost to bring to market; potential delays in the timing of and results from clinical trials and studies
, including potential delays in the recruitment of patients and their ability to effectively participate in such trials and studies due to COVID
19,
and the risk that such results will not support marketing approval and commercialization; potential delays in the timing of any submission to the FDA and regulatory approval of products under development and the risk that
disruptions at the FDA caused by the COVID-19 pandemic may delay the review of submissions or approvals for new drugs
; the risk of a
delay or failure in reaching agreement with the FDA on the design of a clinical trial or in obtaining authorization to commence a clinical trial;
clinical results or early data from clinical trials may not be replicated or continue to occur in additional trials or may not otherwise support further development in the
specified product candidate or at all; o
ur pursuit of a COVID-19 treatment candidate is at an early stage and we may be unable to develop a drug that successfully treats the virus in a timely manner, if at all; risks related to our
commitment of financial resources and personnel to the development of a COVID-19 treatment which may cause delays in or otherwise negatively impact our other development programs, despite uncertainties about the longevity and extent of COVID-19 as a global health concern
;
government entities may take actions that directly or indirectly have the effect of limiting opportunities
for VERU-111 as a COVID-19 treatment, including favoring other treatment alternatives or imposing price controls on COVID-19 treatments;
the risk that the Company’s products may not be commercially successful; risks related to the impact of the COVID-19 pandemic on our business, the nature and extent of which is highly uncertain and unpredictable;
risks relating to the ability of the Company to obtain sufficient financing on acceptable terms when needed to fund development and operations
, including our ability to secure timely grant or other funding to develop VERU-111 as a potential COVID-19 treatment
; product demand and market acceptance; competition in the Company’s markets and therapeutic areas and the risk of new or existing competitors with greater resources and capabilities and new competitive product approvals and/or introductions;
the risk that the Company will be affected by regulatory developments, including a reclassification of products; price erosion, both from competing products and increased government pricing pressures; manufacturing and quality control problems; compliance and regulatory matters, including costs and delays resulting from extensive governmental regulation, and effects of healthcare insurance and regulation, including reductions in reimbursement and coverage or reclassification of products; some of the Company’s products are in development and the Company may fail to successfully commercialize such products; risks related to intellectual property, including the uncertainty of obtaining patents, the effectiveness of the patents or other intellectual property protections and ability to enforce them against third parties, the uncertainty regarding patent coverages, the possibility of infringing a third party’s patents or other intellectual property rights, and licensing risks; government contracting risks, including the appropriations process and funding priorities, potential bureaucratic delays in awarding contracts, process errors, politics or other pressures, and the risk that government tenders and contracts may be subject to cancellation, delay, restructuring or substantial delayed payments; the risk that delays in orders or shipments under government tenders or the Company’s U.S. prescription business could cause significant quarter-to-quarter variations in the Company’s operating results and adversely affect its net revenues and gross profit; a governmental tender award indicates acceptance of the bidder’s price rather than an order or guarantee of the purchase of any minimum number of units, and as a result government ministries or other public sector customers may order and purchase fewer units than the full maximum tender amount or award; penalties and/or debarment for failure to satisfy tender awards; the Company’s reliance on its international partners and on the level of spending by country governments, global donors and other public health organizations in the global public sector; risks related to concentration of accounts receivable with our largest customers and the collection of those receivables; the economic and business environment and the impact of government pressures; risks involved in doing business on an international level, including currency risks, regulatory requirements, political risks, export restrictions and other trade barriers; the Company’s production capacity, efficiency and supply constraints and interruptions, including potential disruption of production at the Company’s and third party manufacturing facilities and/or of the Company’s ability to timely supply product due to labor unrest or strikes, labor shortages, raw material shortages, physical damage to the Company’s and third party facilities, COVID-19 (including the impact of COVID-19 on suppliers of key raw materials), product testing, transportation delays or regulatory actions; risks related to the costs and other effects of litigation, including product liability claims; the Company’s ability to identify, successfully negotiate and complete suitable acquisitions or other strategic initiatives; the Company’s ability to successfully integrate acquired businesses, technologies or products; and other risks detailed in the Company’s press releases, shareholder communications and Securities and Exchange Commission filings, including the Company’s Form 10-K for the fiscal year ended September 30, 2019 and subsequent quarterly reports on Form 10-Q. These documents are available on the “SEC Filings” section of our website at www.verupharma.com/investors.

Contact:
Sam Fisch   800-972-0538
Director of Investor Relations



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Generex and NuGenerex Immuno-Oncology Ii-Key-SARS-CoV-2 Vaccine Partner Bintai Kinden Executes its Exclusive Distribution & Licensing Option for Australia and New Zealand

  • Memorandum of Understanding (MOU) signed by both parties
  • Negotiating final contract terms
  • Upfront payment on closing
  • Licensing fees, expenses, and price per dose to be determined
  • Bintai Kinden Corporation Berhad (www.bintai.com.my) is an investment holding company headquartered in Malaysia with operations throughout South-East Asia, China, and the Arabian Gulf Region
  • An 8K on the MOU will be filed today

MIRAMAR, Fla., Nov. 23, 2020 (GLOBE NEWSWIRE) — Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) and subsidiary NuGenerex Immuno-Oncology today announced that their Ii-Key COVID-19 vaccine development partner Bintai Kinden Corporation and its subsidiary BINTAI HEALTHCARE SDN. BHD. have executed their exclusive option to license and distribute the Ii-Key-SARS-CoV-2 vaccine in Australia and New Zealand once the vaccine is developed and approved by the FDA and relevant Malaysian authorities.

In May 2020, Generex executed a Distribution and Licensing Agreement with Bintai for the exclusive right to distribute the Ii-Key-SARS-CoV-2 vaccine in Southeast Asia. Under the terms of that agreement, Bintai obtained the right of first refusal to market and distribute the Ii-Key vaccine in Australia and New Zealand. With the signing of this non-binding Memorandum of Understanding (MOU), Bintai has exercised their option, and the parties have agreed to negotiate in good faith to finalize a Distribution and Licensing Agreement for Bintai to have the exclusive rights to market, distribute and supply the Vaccine to the Australia and New Zealand markets once the vaccine is approved by the relevant authorities. Generex will file an 8K with the SEC today, including copies of the MOU.

Generex CEO Joseph Moscato said, “With the signing of the option MOU with Bintai, Generex and NuGenerex IO will add two more countries for Ii-Key vaccine development and distribution. Once finalized, the Distribution & Licensing Agreement will provide the necessary upfront licensing fees and all costs for development and manufacturing in Australia and New Zealand in addition to the already completed deals with Bintai for Malaysia and the Southeast Asian region. We believe the deal for Australia and New Zealand will close in the next few weeks as the terms of the agreement are currently being negotiated in good faith with Bintai.”

“By moving forward with discussions on expanding the distribution and sales of Ii-Key vaccines in Australia and New Zealand, Bintai is demonstrating their confidence in our long-term partnership, and I want to thank them for their commitment to help us develop the Ii-Key Complete Vaccine solution. We continue to advance our Ii-Key COVID-19 vaccine development program with a comprehensive analysis of the human immune response to individual Ii-Key-SARS-CoV-2 epitopes using a proprietary ex-vivo, blood screening protocol using blood from COVID-19 patients. With these ex-vivo human studies we are able to identify specific regions of the coronavirus that the human immune system recognizes to mount a targeted, neutralizing immune response, as well as those that activate the T-Helper Cell response necessary for long-term immune memory. This is the beauty of the Ii-Key platform, that we can determine, through human blood screening and immune characterization, how our Ii-Key vaccines activate targeted, neutralizing, long-term immune responses before we even vaccinate a patient. We are now starting our Ii-Key vaccine GMP manufacturing process and plan to confirm our human blood screening results in clinical trials.”

Mr. Moscato continued, “The goal of our Ii-Key vaccine development program is to provide a safe, specific, and effective vaccine against COVID-19 that does not trigger off-target immune responses that are the hallmark of severe COVID-19 complications, and which may arise from other COVID vaccines that contain RNA to make the whole spike protein. From a commercial standpoint, we have a number of competitive advantages. Our Ii-Key vaccine is amino acid based – not RNA or DNA, so we offer an alternative to those who do not wish to be vaccinated with genetic material, which is especially important for kids and pregnant women. Ii-Key vaccines are comparatively easy to manufacture with standard methods and it does not need to be frozen at -80 degrees because the final vaccine product is lyophilized powder. We look forward to closing this latest distribution and licensing agreement with Bintai for Australia and New Zealand, expanding our international partnership beyond Southeast Asia to the South Pacific. And with our recently announced deal in China, Generex and NuGenerex IO are positioned as a leader in vaccine development throughout Asia.”

About Generex Biotechnology Corp.
and
NuGenerex Immuno-Oncology
, Inc.

Generex Biotechnology is an integrated healthcare holding company with end-to-end solutions for patient centric care from rapid diagnosis through delivery of personalized therapies. Generex is building a new kind of healthcare company that extends beyond traditional models providing support to physicians in a proprietary network, and ongoing relationships with patients to improve the patient experience and access to optimal care. 

Generex corporate oversees the NuGenerex family of subsidiary companies to advance the development and implementation of products and services for our physician partners and the commercial market. Olaregen Therapeutix manufactures and markets Excellagen®  wound conforming gel matrix, a cellular and tissue product cleared by FDA  or 17 wound management indications. Regentys is a clinical stage development company with Regentys ECMH™ for ulcerative colitis and inflammatory bowel disorders. 

NuGenerex Immuno-Oncology (http://nugenerexio.com), a public subsidiary of Generex Biotechnology, is a clinical stage oncology company developing immunotherapeutic peptide vaccines for cancer and infectious disease based on the CD4 T-Cell activation platform, Ii-Key. NuGenerex Immuno-Oncology (NGIO) has been spun out of Generex as a separate public company to advance the platform Ii-Key technology, particularly in combination with the immune checkpoint inhibitors for the treatment of cancer. NGIO is currently engaged in a Phase II clinical trial of its lead cancer immunotherapeutic vaccine AE37 in combination with pembrolizumab (Merck’s Keytruda®) for the treatment of triple negative breast cancer. The company has also turned its Ii-Key technology on infectious disease, responding to the coronavirus pandemic with a SARS-CoV-2 vaccine development program. 

About Bintai Kinden

Bintai Kinden Corporation Berhad, a publicly listed company on Bursa Malaysia, is an international engineering and consulting firm headquartered in Kuala Lumpur, Malaysia. BINTAI HEALTHCARE SDN. BHD. is a healthcare focused subsidiary of Bintai Kinden.

With over 40 years of specialist engineering and construction experience, Bintai’s unique combination of extensive regional experience and local knowledge has made them the region’s international contractor of choice. Headquartered in Malaysia, Bintai Kinden has expanded operations regionally throughout South-East Asia, China and the Arabian Gulf region.

As multi-disciplined, building and industrial service engineers and specialists, Bintai works in all the major market sectors, from commercial buildings to industrial complexes, designing, installing and commissioning systems that include the full range of engineering services. The integration of research, management, marketing and sales that transcends organizational borders enables Bintai Kinden to capitalize on synergistic potential and benefits of scale.

Cautionary Note Regarding Forward-Looking Statements

This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as “expects,” “plan,” “believes,” “will,” “achieve,” “anticipate,” “would,” “should,” “subject to” or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.

Generex Contact:

Generex Biotechnology Corporation

Joseph Moscato
646-599-6222

Todd Falls
1-800-391-6755 Extension 222
[email protected]



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Skillful Craftsman Enters into Strategic Cooperation Agreement to Participate in National Pilot Project of “Education Certificate + Several Vocation Skill Level Certificates”

WUXI, China, Nov. 23, 2020 (GLOBE NEWSWIRE) — Skillful Craftsman Education Technology Ltd. (“the Company”) (NASDAQ: EDTK), an education technology company providing interactive online learning services, today announced that the Company has entered into a strategic cooperation agreement (the “Agreement”) with Tianfu Institute of International Big Data Strategy Technology (“TIBD”) on November 11, 2020 to participate in the national pilot project of “Education Certificate + Several Vocational Skill Level Certificates”(“1+X”). The purpose of the 1+X pilot project is to allow students to obtain certificates of various vocational skills at the same time of obtaining academic certificates.

TIBD has actively participated in the “1+X” pilot project and successfully developed “Big Data Governance” Vocational Skill Level Certificate, which is one of the vocational skill level certificates of “1+X” and was officially approved and publicized by an inter-ministerial joint meeting on vocational education of the State Council in September 2020. As of November 18, 2020, 320 companies have participated in the “1+X” pilot project.

As part of the Agreement, both parties agree to cooperate, for an initial three-year period, in the development and operation of the “China Big Data Educational Cloud” as well as the development of the learning resources platform for “Big Data Governance” Vocational Skill Level Certificate. TIBD agrees to provide the Company with experts, talent, content and associated support while the Company agrees to provide comprehensive online educational cloud service technology, hardware, software and other related operational supporting services that are necessary.

Additionally, both parties agreed to cooperate in the funding of several related projects of the pilot project of the “1+X” Vocational Skill Level Certificate, among which the Company expects to contribute about RMB 9 million. TIBD has agreed to support the Company’s participation in the project and provide experts, channels, experience and other assistance.

Mr. Xiaofeng Gao, Chairman and CEO of Skillful Craftsman Education Technology Ltd., commented, “We’re a technology innovation company that is established to meet the evolving needs of the market. Our cooperation with TIBD will enable us to continue improving our business model, forming closer partnerships, and making good use of national policies. The cooperation also augments the strength of our brand. Our expertise, industry experience, and market coverage make it possible for us to seize opportunities timely and put our business strategy into practice. By participating in the “1+X” pilot project, we hope to expand market share, diversify our business model and create more value to all of our shareholders.”

About Tianfu Institute of International Big Data Strategy Technology

Founded in July 13, 2018, Tianfu Institute of International Big Data Strategy Technology(“TIBD”) is a scientific research enterprise jointly established by SCIG Information Industry Group Co., Ltd, a top-tier big data research team from Chinese Academy of Sciences (CAS) led by Professor Yong Shi, and Chengyue Project Consulting Group. TIBD focuses on introducing, transforming international advanced technologies of big data, conducting research of big data, artificial intelligence, Internet of Things (IOT) and others, incubating and investing in big data associated projects, building big data platforms for industrial application, and cultivating big data talents with globalized visions.

About Skillful Craftsman

Skillful Craftsman is an education technology company that provides interactive online vocational training and virtual simulation experimental training courses. The Company began operations in Wuxi, China in 2013 and is a key supporter for China education reform and development for labor employment. As of March 31, 2020, the Company had 68.5 million total registered members, of which 3.1 million are fee-paying members. For more information, please visit: ir.kingwayup.com.


Safe Harbor Statement

This report contains “forward-looking statements” for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that represent our beliefs, projections and predictions about future events. All statements other than statements of historical fact are “forward-looking statements,” including any projections of earnings, revenue or other financial items, any statements of the plans, strategies and objectives of management for future operations, any statements concerning proposed new projects or other developments, any statements regarding future economic conditions or performance, any statements of management’s beliefs, goals, strategies, intentions and objectives, and any statements of assumptions underlying any of the foregoing. Words such as “may”, “will”, “should”, “could”, “would”, “predicts”, “potential”, “continue”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates” and similar expressions, as well as statements in the future tense, identify forward-looking statements.

Forward-looking statements are based on information available at the time those statements are made and management’s belief as of that time with respect to future events. These statements are necessarily subjective and involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any future results, performance or achievements described in or implied by such statements. Such risks, uncertainties, and other factors include, but are not limited to, our ability to improve launch and leverage new technologies and cooperative relationships or anticipate market demand in a timely or cost-effective manner, and those factors discussed under the headings “Risk Factors”, “Operating and Financial Review and Prospects,” and elsewhere
in our Annual Report on Form 20-F. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether, or the times by which, our performance or results may be achieved. Actual results may differ materially from expected results described in our forward-looking statements, including with respect to correct measurement and identification of factors affecting our business or the extent of their likely impact, and the accuracy and completeness of the publicly available information with respect to the factors upon which our business strategy is based or the success of our business. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.

For investor and media enquiries, please contact:

Skillful Craftsman

Investor Relations Department

Email: [email protected]

Ascent Investor Relations LLC

Tina Xiao

Tel: +1 917-609-0333

Email: [email protected]