Market Newsdesk

TORONTO, Nov. 23, 2020 (GLOBE NEWSWIRE) — VitalHub Corp. (the “Company” or “VitalHub”) (TSXV: VHI) is pleased to announce it has been selected to present at the Canaccord Genuity Virtual Health and Wellness Conference, on Monday, November 23, 2020.

Canaccord Genuity is a leading independent, full-service financial services firm whose expertise covers investment banking, equity research and sales and trading services. The 2020 Canaccord Genuity Virtual Health and Wellness Conference will explore the new themes taking shape within Health and Wellness. The conference will host management teams from top public companies in this space.

VitalHub has been selected as one of the companies scheduled to present at this year’s Virtual Health and Wellness Conference. VitalHub will be presenting alongside CloudMD Software & Services Inc, Carebook Technologies Inc, and WELL Health Technologies Corp. for the Digital Health and Telemedicine industry segment, which is monitored by Doug Taylor, Managing Director, Equity Research at Canaccord Genuity.

“We look forward to participating in this panel, alongside CloudMD, Carebook and WELL,” said Dan Matlow, CEO of VitalHub Corp. “We appreciate Canaccord’s ongoing support, and their recent initiation of coverage. We are pleased to see that leading financial institutions have recognized the importance of the space, and the growth opportunity it presents. We look forward to sharing our story with investors at the conference.”

The virtual conference runs from 9:00AM – 12:00PM EDT, and the Digital Health and Telemedicine industry segment will take place from 9:00AM – 9:55AM EDT. To register for this virtual conference, please contact your Canaccord representative. 

ABOUT VITALHUB

Software for Health and Human Services providers designed to simplify the user experience & optimize outcomes.

VitalHub provides technology to Health and Human Services providers including; Hospitals, Regional Health Authorities, Mental Health, Long Term Care, Home Health, Community and Social Services. VitalHub solutions span the categories of Electronic Health Record (EHR), Case Management, Care Coordination, Patient Flow & Operational Visibility, and DOCit Mobile Apps.

The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently, VitalHub serves 275+ clients across Canada, USA, UK, Australia, Qatar, and Latvia. VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Company is publicly traded on the TSX Venture Exchange under the symbol “VHI”.

CAUTIONARY STATEMENT

This press release includes forward-looking statements regarding the Corporation and its business, which may include, but is not limited to, statements with respect to the appointment of a new directors. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the technology industry, failure to obtain regulatory or shareholder approvals, market conditions, economic factors, the equity markets generally and risks associated with growth and competition. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

CONTACT INFORMATION

Dan Matlow
Chief Executive Officer, Director
(416) 727-9061
[email protected]

BOSTON, Nov. 23, 2020 (GLOBE NEWSWIRE) — Cerevel Therapeutics (Nasdaq: CERE), a company dedicated to unraveling the mysteries of the brain to treat neuroscience diseases, announced Chairperson and Chief Executive Officer Tony Coles, M.D., will participate in a fireside chat at the Evercore ISI 3rd Annual HealthCONx Virtual Conference on Wednesday, December 2, 2020 at 3:05 p.m. EST.

The live webcast of the fireside chat can be accessed on the investor relations section of the Cerevel Therapeutics website here. A replay will be available in the same section of the company’s website for approximately 90 days.

About Cerevel Therapeutics

Cerevel Therapeutics is dedicated to unraveling the mysteries of the brain to treat neuroscience diseases. The company is tackling neuroscience diseases with a differentiated approach that combines expertise in neurocircuitry with a focus on receptor selectivity. Cerevel Therapeutics has a diversified pipeline comprising five clinical-stage investigational therapies and several preclinical compounds with the potential to treat a range of neuroscience diseases, including schizophrenia, epilepsy, Parkinson’s disease and substance use disorder. Headquartered in Boston, Cerevel Therapeutics is advancing its current research and development programs while exploring new modalities through internal research efforts, external collaborations or potential acquisitions. For more information, visit www.cerevel.com.

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based on management’s beliefs and assumptions and on information currently available to management. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. Forward-looking statements in this press release include, but are not limited to, statements about the potential attributes and benefits of our product candidates, the format and timing of our product development activities and clinical trials, including the expected timing of data announcements, and the sufficiency of our financial resources. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. Actual performance and results may differ materially from those projected or suggested in the forward-looking statements due to various risks and uncertainties, including, among others: that clinical trial results may not be favorable; uncertainties inherent in the product development process (including with respect to the timing of results and whether such results will be predictive of future results); the impact of COVID-19 on the timing, progress and results of ongoing or planned clinical trials; other impacts of COVID-19, including operational disruptions or delays or to our ability to raise additional capital; whether and when, if at all, our product candidates will receive approval from the FDA or other regulatory authorities, and for which, if any, indications; competition from other biotechnology companies; uncertainties
regarding intellectual property protection; and other risks identified in our SEC filings, including those under the heading “Risk Factors” in our definitive proxy statement/prospectus filed with the SEC on October 7, 2020. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

Media Contact:

Rachel Eides
W2O pure
[email protected]

I
nvestor Contact:

Matthew Calistri
Cerevel Therapeutics
[email protected]

CHICAGO, Nov. 23, 2020 (GLOBE NEWSWIRE) — The HIMSS & Health 2.0 Middle East Digital Health Conference & Exhibition will take place as a digital event from 29 Nov. – 2 Dec., 2020, under the patronage of His Excellency Dr. Tawfiq bin Fawzan Al-Rabiah, Minister of Health of the Kingdom of Saudi Arabia, and in a joint collaboration with the Ministry of Health, the Saudi Health Council and the Saudi Commission for Health Specialties.

The conference aims to discuss current challenges, visions, and ideas about future plans and potential solutions in the field of healthcare at the regional and international levels. The conference will also address the latest findings of health information technology and ways to benefit from it, and spread awareness of the importance of health information technology and its effective role in raising performance efficiency and improving quality services and optimal use of resources in the health sector. In addition to highlighting their vital role and providing the highest possible quality in providing healthcare to all beneficiaries.

The conference will have the participation of specialists in the digital healthcare sector from inside and outside the Kingdom and will include many lectures and short workshops “remotely” under the slogan “Transforming Health and Care Together: From Vision to Reality”, presented by Saudi experts, lecturers and internationals in the field of information technology and healthcare.

During the conference, many different themes will be discussed, including: create a digital workplace and discuss the status quo, lead shared innovations and new business models, expand healthcare beyond the hospital, harness the power of data: enable smarter health systems, lessons learned from COVID-19, leverage digital health to predict, prevent and manage future crises. In addition to shedding light on the latest advanced technological innovations in the fields of healthcare and ways to benefit from them.

Registration is now open.

Details on the conference can be found here.

About HIMSS

HIMSS is a global advisor and thought leader supporting the transformation of the health ecosystem through information and technology. As a mission driven non-profit, HIMSS offers a unique depth and breadth of expertise in health innovation, public policy, workforce development, research and analytics to advise global leaders, stakeholders and influencers on best practices in health information and technology. Through our innovation engine, HIMSS delivers key insights, education and engaging events to healthcare providers, governments and market suppliers, ensuring they have the right information at the point of decision. Headquartered in Chicago, Illinois, HIMSS serves the global health information and technology communities with focused operations across North America, Europe, the United Kingdom, the Middle East, and Asia Pacific. Our members include more than 80,000 individuals, 480 provider organizations, 470 non-profit partners and 650 health services organizations.

Karen D. Groppe

Senior Director, Strategic Communications
Mobile 312.965.7898  | Twitter @Karen_D_Groppe

SANTA CLARA, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) — Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), today reported that the Company has signed an MOU with the Board Committee of Huzhou South Taihu New Area for a 5G Industrial Park Project.

The company intends to setup a Joint Venture in South Taihu New Area in the near term which will serve as Borqs’ China headquarters for 5G activities, including sales, R&D center, and manufacturing.

This project will be implemented in two phases. First, a 5G R&D center and up to 10 micro-electronics manufacturing lines will be established. The Joint Venture will be provided rent-free facilities of 5,500 square meters for two and a half years. In the second phase, the local government authority will construct a Borqs 5G Industrial Park and the Joint Venture will be granted 13,000 square meters of land for commercial and residential use.

The Company’s operations within the area will also enjoy government supported manufacturing supply chain financial assistance, favorable equipment leasing programs, a series of local grants and local tax incentives.

The Company expects to sign the definitive agreement of cooperation in the very near future.

About
Huzhou South
Taihu
New Area of Zhejiang province
, China

The South Taihu New Area of Huzhou City was officially established on June 2, 2019, and is one of the four new areas established by the provincial government. It is located in the northern part of Zhejiang Province at the south shore of the beautiful Taihu Lake, with a total planning area of 225 square kilometers. Accessible by high speed railway and five express highways, the area is also connected with the inland water transportation channels in China. There are four international airports around the new area, including Hongqiao and Pudong in Shanghai, Xiaoshan in Hangzhou and Lukou in Nanjing.

About Borqs Technologies, Inc.

Borqs Technologies is a global leader in software and products for the IoT, providing customizable, differentiated and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio.

Borqs’ unique strengths include its Android and Android Wear Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage and system performance optimization, suitable for large and low volume customized products. The Company is also currently in development of 5G products for phones and hotspots.

Forward-Looking Statements and Additional Information

This press release includes “forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as “expects”, “believes”, “anticipates”, “intends”, “estimates”, “predicts”, “seeks”, “may”, “might”, “plan”, “possible”, “should” and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect our management’s current beliefs. Many factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including the possibility that the Company will not consummate the joint-venture as described or may not receive actual orders in any amounts expected, and the negative impact of the coronavirus on the Company’s supply chain, revenues and overall results of operations, so the reader is advised to refer to the Risk Factors sections of the Company’s filings with the Securities and Exchange Commission for additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Except as expressly required by applicable securities law, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact:

Sandra Dou
Director of Finance
Borqs Technologies, Inc.
[email protected]
www.borqs.com

WARREN, N.J., Nov. 23, 2020 (GLOBE NEWSWIRE) — Aquestive Therapeutics, Inc. (NASDAQ: AQST), a pharmaceutical company focused on developing and commercializing differentiated products that address patients’ unmet needs and solve therapeutic problems, announced today receipt of the first milestone payment of $10 million under the previously announced royalty monetization agreement with an affiliate of Marathon Asset Management, a leading global investment firm (“Marathon”), bringing total cash proceeds this quarter to $50 million.

In conjunction with the receipt of the first milestone payment and closing of the monetization transaction, Aquestive has repaid a portion of certain senior notes and plans to utilize the remaining net proceeds to fund the Company’s ongoing development and commercialization of its proprietary product and pipeline candidates, as well as for working capital purposes. Under the terms of the monetization agreement, Aquestive is eligible to receive up to the additional $75 million of milestone payments at various points based on the achievement of worldwide royalty targets. This includes up to $15 million potentially available in 2021 and through mid-2022.

“We are pleased to have met the first milestone of our agreement with Marathon and to have received the additional proceeds of $10 million this quarter. These proceeds will help to execute on advancing our key clinical and commercial initiatives, including the resubmission of our NDA for FDA approval of our lead product Libervant™ (diazepam) Buccal Film, for the management of seizure clusters, and our ongoing clinical development program for AQST-108, an oral sublingual film formulation delivering systemic epinephrine,” remarked Keith J. Kendall, President and Chief Executive Officer of Aquestive.

A
bout Aquestive Therapeutics

Aquestive Therapeutics is a pharmaceutical company that applies innovative technology to solve therapeutic problems and improve medicines for patients. The Company has commercialized one internally-developed proprietary product to date, Sympazan, has a commercial proprietary product pipeline focused on the treatment of diseases of the central nervous system, or CNS, and other unmet needs, and is developing orally administered complex molecules to provide alternatives to invasively administered standard of care therapies. The Company also collaborates with other pharmaceutical companies to bring new molecules to market using proprietary, best-in-class technologies, like PharmFilm^®, and has proven capabilities for drug development and commercialization.

Forward-Looking Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “may,” “will,” or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the FDA’s confirmation that modeling and simulations are a potential path forward to approval; the Company’s belief that the additional information requested by the FDA is available based on previously conducted studies and that no additional clinical studies will be required for resubmission of the New Drug Application (NDA) for Libervant; the timing of the NDA resubmission to the FDA; ability to address the concerns identified in the FDA’s Complete Response Letter dated September 25, 2020 regarding the NDA for Libervant and obtain FDA approval of Libervant for U.S. market access; therapeutic benefits of Libervant; and other statements that are not historical facts. These forward-looking statements are also subject to the uncertain impact of the COVID-19 global pandemic on our business including with respect to our clinical trials including site initiation, patient enrollment and timing and adequacy of clinical trials; on regulatory submissions and regulatory reviews and approvals of our product candidates; pharmaceutical ingredient and other raw materials supply chain, manufacture, and distribution; sale of and demand for our products; our liquidity and availability of capital resources; customer demand for our products and services; customers’ ability to pay for goods and services; and ongoing availability of an appropriate labor force and skilled professionals. Given these uncertainties, the Company is unable to provide assurance that operations can be maintained as planned prior to the COVID-19 pandemic. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to, risks associated with the Company’s development work, including any delays or changes to the timing, cost and success of our product development activities and clinical trials and plans; risk of delays in FDA approval of Libervant and our other drug candidates or failure to receive approval; risk of our ability to demonstrate to the FDA “clinical superiority” within the meaning of the FDA regulations of our drug candidate Libervant relative to FDA-approved diazepam rectal gel and nasal spray products including by establishing a major contribution to patient care within the meaning of FDA regulations relative to the approved products as well as risks related to other potential pathways or positions which are or may in the future be advanced to the FDA to overcome the seven year orphan drug exclusivity granted by the FDA for the approved nasal spray product of a competitor in the U.S. and there can be no assurance that we will be successful; risk that a competitor obtains other FDA marketing exclusivity that blocks U.S. market access for Libervant; risk inherent in commercializing a new product (including technology risks, financial risks, market risks and implementation risks and regulatory limitations); risks for consummating the monetization transaction for KYNMOBI™ and other risks and uncertainties concerning the royalty and other revenue stream of KYNMOBI, achievement of royalty targets worldwide or in any jurisdiction and certain other commercial targets required for contingent milestone payments under the monetization transaction, and of sufficiency of net proceeds of the monetization transaction after satisfaction of and compliance with 12.5% Senior Notes obligations, as applicable, and for funding the Company’s operations; risk of development of our sales and marketing capabilities; risk of legal costs associated with and the outcome of our patent litigation challenging third party at risk generic sale of our proprietary products; risk of sufficient capital and cash resources, including access to available debt and equity financing and revenues from operations, to satisfy all of our short-term and longer term cash requirements and other cash needs, at the times and in the amounts needed; risk of failure to satisfy all financial and other debt covenants and of any default; risk related to government claims against Indivior for which we license, manufacture and sell Suboxone^® and which accounts for the substantial part of our current operating revenues; risk associated with Indivior’s cessation of production of its authorized generic buprenorphine naloxone film product, including the impact from loss of orders for the authorized generic product and risk of eroding market share for Suboxone and risk of sunsetting product; risks related to the outsourcing of certain marketing and other operational and staff functions to third parties; risk of the rate and degree of market acceptance of our product and product candidates; the success of any competing products, including generics; risk of the size and growth of our product markets; risks of compliance with all FDA and other governmental and customer requirements for our manufacturing facilities; risks associated with intellectual property rights and infringement claims relating to the Company’s products; risk of unexpected patent developments; the impact of existing and future legislation and regulatory provisions on product exclusivity; legislation or regulatory actions affecting pharmaceutical product pricing, reimbursement or access; claims and risks that may arise regarding the safety or efficacy of the Company’s products and product candidates; risk of loss of significant customers; risks related to legal proceedings, including patent infringement, investigative and antitrust litigation matters; changes in government laws and regulations; risk of product recalls and withdrawals; uncertainties related to general economic, political, business, industry, regulatory and market conditions and other unusual items; and other uncertainties affecting the Company described in the “Risk Factors” section and in other sections included in our Annual Report on Form 10-K, in our Quarterly Reports on Form 10-Q, and in our Current Reports on Form 8-K filed with the Securities Exchange Commission. Given those uncertainties, you should not place undue reliance on these forward-looking statements, which speak only as of the date made. All subsequent forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. The Company assumes no obligation to update forward-looking statements or outlook or guidance after the date of this press release whether as a result of new information, future events or otherwise, except as may be required by applicable law.

PharmFilm^® and the Aquestive logo are registered trademarks of Aquestive Therapeutics, Inc. All other registered trademarks referenced herein are the property of their respective owners.

Aquestive Investor Inquiries:

Westwicke, an ICR Company
Stephanie Carrington
stephanie.carrington@westwicke.com
646-277-1282

LOS ANGELES, Nov. 23, 2020 (GLOBE NEWSWIRE) — Versus Systems Inc. (“Versus” or the “Company”) (CSE:VS) (OTCQB:VRSSF) (FRANKFURT:BMVA), today announced that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed public offering of its common shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined.

Versus has also applied to list its common shares on The Nasdaq Capital Market under the ticker symbol “VS.” The Company believes it meets the initial listing requirements for The Nasdaq Capital Market except for the equity standard requirement, which the Company anticipates satisfying upon closing of this proposed public offering.

Lake Street Capital Markets, LLC is acting as representative of the underwriters for the offering.

The proposed offering will be made only by means of a prospectus. Once available, a copy of the preliminary prospectus related to the offering may be obtained from Lake Street Capital Partners, LLC, Attention: Syndicate Department, 920 Second Avenue South, Suite 700, Minneapolis, MN 55402, telephone: (612) 326-1305, or by emailing [email protected].

A registration statement relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The listing of the Company’s common shares with The Nasdaq Capital Market remains subject to approval by The Nasdaq Stock Market and the satisfaction of all applicable listing and regulatory requirements. No assurance can be given that the Company’s common shares will ultimately be listed on The Nasdaq Capital Market. During the review process, the Company’s common shares will continue to trade on the CSE under its current symbol “VS,” and on OTCQB under its current symbol “VRSSF.”

About Versus Systems

Versus Systems, Inc. has developed a proprietary in-game prizing and promotions engine that allows publishers, developers, and creators of games, apps, and other interactive media content to offer real world prizes inside their content. Players, viewers and users can choose from among the offered prizes and then complete in-game or in-app challenges to win the prizes.

The Versus platform can be integrated into mobile, console, and PC games, as well as streaming media and mobile apps. Brands pay to place their products in-games and apps and gamers, viewers, and users complete challenges to earn those prizes. Versus has multiple granted patents for how to manage prizing at scale and how to comply with federal, state, and local law with their Dynamic Regulatory Compliance engine. The Versus Systems platform is available now in HP OMEN and HP Pavilion desktop and laptop computers, as well as select mobile games and applications.

For more information, please visit www.versussystems.com or visit the official Versus Systems YouTube channel.

For Versus Systems, contact:

Cody Slach, Sean McGowan
Gateway Investor Relations
949-574-3860
[email protected]
or
[email protected]

Disclaimer for Forward-Looking Information 

This news release contains certain forward-looking information and forward-looking statements within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward looking statements. In this news release,
such
statements include, without limitation, statements regarding the results of our proposed public offering of shares of our common
shares
and the
potential
uplisting
of our common shares
to The Nasdaq
Capital
Market
.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements
including
uncertainties related to the
terms and
success of our proposed
public
offering and the potential that we may not be able to list our common
shares
on The Nasdaq
Capital
Market
. Although the forward-looking statements contained in this news release are based upon what management of the Company
believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable law. 

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release.

TORONTO, Nov. 23, 2020 (GLOBE NEWSWIRE) — Kerr Mines Inc. (TSX: KER, OTC: KERMF) (“Kerr”or the “Company”) and Star Royalties Ltd. (“Star Royalties”) are very pleased to jointly announce the closing of the first installment of their previously announced US$18,000,000 gold purchase and sale agreement (“Streaming Agreement”) which will be used to finance the restart of underground operations and gold production at the Copperstone Gold Mine (“Copperstone”) in Arizona, USA.

Giulio T. Bonifacio, Chief Executive Officer of Kerr, stated: “We are excited to enter this new chapter for Kerr Mines with the closing of this first installment of the Copperstone stream financing. We look forward to working with Star Royalties to expeditiously restart operations at our flagship asset. Our focus now shifts to securing long term lead items, finalizing the process facilities to accommodate our whole ore leach approach, and sourcing underground contractors and equipment.”

Alex Pernin, Chief Executive Officer of Star Royalties, commented: “Following our comprehensive due diligence process, we have great confidence in both Copperstone’s potential and Kerr’s ability to execute a successful restart of operations. We look forward to working closely with their team as we transition Copperstone into Arizona’s next gold producing mine.”

The US$18 million advance payment under the Streaming Agreement will be provided in three equal installments, with the first US$6 million installment having now been advanced. The remaining two tranches will be advanced at the request of Kerr as it incurs expenditures for the restart of Copperstone, with a further US$6 million payable on or before February 28, 2021 and the final US$6 million payable on or before April 30, 2021.

Summary of
Terms

• Star Royalties will purchase from Kerr an amount of refined gold equal to 9.9% of gold produced at Copperstone until a cumulative 21,000 ounces of refined gold are delivered, then 3.3% of gold produced until a cumulative 27,200 ounces are delivered, and 1.2% of gold produced thereafter for the remaining life of mine;
• In addition to the US$18 million advance payment, Star Royalties will provide a cash payment to Kerr for each ounce of gold delivered equal to 25% of the average London Bullion Market Association gold spot price for the five consecutive trading days prior to delivery. The Company has granted security over all of its assets to Star to secured the obligation of the Company to Star under the Streaming Agreement;
• In connection with the advance of the first tranche of US$6 million, Kerr repaid in full the US$2 million convertible promissory note held by Sprott Private Resource Lending (Collector) LP (“Sprott”). This repayment resulted in Sprott not exercising its conversion rights at CAD$0.13 for US$500,000 and CAD$0.16 for US$1.5 million, avoiding dilution to Kerr shareholders.

In connection with the closing of the Streaming Agreement, Kerr, Trans Oceanic Minerals Company Ltd. (“TOMCL”) and Braydon Capital Corporation (“Braydon”) amended certain terms and conditions of the outstanding debt held by TOMCL and Braydon. In particular, the parties agreed as follows:

• The maturity dates of outstanding promissory notes held by Braydon and TOMCL in the aggregate principal amount of approximately US$9.3 million were extended from August 22, 2021 to December 31, 2023;
• The rate of interest payable on the principal of the notes was increased from 8% to 10%, with interest payable quarterly starting on the commencement of commercial production;
• Two CAD$1 million unconvertible promissory notes, one held by each of Braydon and TOMCL, were amended to include a conversion feature providing that the principal amount of the notes can be converted into common shares of Kerr at any time prior to maturity at a price of CAD$0.16 per share, subject to Kerr having the right of early conversion in the event the volume-weighted average trading price of the common shares exceeds CAD$0.30 for twenty consecutive trading days; and
• Kerr also agreed to make prepayments against the principal of the notes by way of preferential payments, in certain circumstances.

About Kerr Mines Inc.

Kerr Mines is an emerging American gold producer advancing the restart of production at its 100-per-cent-owned, fully permitted past-producing Copperstone mine project, located in mining-friendly Arizona. The Copperstone mine project demonstrates significant upside exploration potential that has yet to be drilled within a 50 square-kilometre (12,258 acres) land package that includes past production of over 500,000 ounces of gold by way of an open-pit operation. The company’s current focus is on maximizing Copperstone’s potential by defining and expanding current resources and further optimizing the mine’s economics for purposes of the restart of production in 2021.

For further information please visit the Kerr Mines website (www.kerrmines.com).

About Star Royalties
Ltd.

Star Royalties Ltd. is a growth-oriented, precious metals-focused royalty and streaming company. We pursue high-quality cash flow generation and shareholder value creation through the origination and acquisition of royalties and streams. By specializing in custom-made and operator-friendly financing solutions, our objective is to be uniquely aligned with our counterparties and to provide our investors with leverage to rising precious metal prices. We aim to become the preferred mine financing partner for producers, developers and explorers.

Cautionary Note Regarding Forward Looking Statements

Certain statements in this news release may constitute “forward-looking statements”, including those regarding future market conditions for metals and minerals, the purchase and delivery of gold in connection with the Streaming Agreement, the payment of the second tranche and third tranche in connection with the Streaming Agreement, the use of proceeds from the Streaming Agreement, the restart of Copperstone, the prepayments against the principal of the notes by way of preferential payments, in certain circumstances. Forward-looking statements are statements that address or discuss activities, events or developments that Star Royalties and Kerr expect or anticipate may occur in the future. When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of Star Royalties or Kerr to be materially different from future results, performances or achievements expressed or implied by such statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results, performances or achievements to differ materially from such forward-looking statements, including, without limitation, changes in business plans and strategies, market conditions, share price, best use of available cash, the ability of Star Royalties to obtain required funds and identify and execute future acquisitions on acceptable terms or at all, risks inherent to royalty and streaming companies, title and permitting matters, metal and mineral commodity price volatility, discrepancies with respect to the estimated production of Copperstone, mineral reserves and resources and metallurgical recoveries, mining operation and development risks relating to the parties which produce the metals and minerals Star Royalties will purchase or receive payments from, regulatory restrictions, activities by governmental authorities (including changes in taxation), currency fluctuations, the global social and economic climate, natural disasters and global pandemics, dilution, and competition. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and neither Star Royalties nor Kerr undertakes any obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.