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ROSEN, A LEADING LAW FIRM, Reminds Biogen Inc. Investors of Important Deadline in Securities Class Action Commenced by the Firm; Encourages Investors with Losses in Excess of $1 Million to Contact the Firm – BIIB

ROSEN, A LEADING LAW FIRM, Reminds Biogen Inc. Investors of Important Deadline in Securities Class Action Commenced by the Firm; Encourages Investors with Losses in Excess of $1 Million to Contact the Firm – BIIB

NEW YORK–(BUSINESS WIRE)–
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Biogen Inc. (NASDAQ: BIIB), between October 22, 2019 and November 6, 2020, inclusive (the “Class Period”) of the important January 12, 2021 lead plaintiff deadline in the case. The lawsuit seeks to recover damages for Biogen investors under the federal securities laws.

To join the Biogen class action, go to http://www.rosenlegal.com/cases-register-1981.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the larger dataset did not provide necessary data regarding aducanumab’s effectiveness; (2) the EMERGE study did not and would not provide necessary data regarding aducanumab’s effectiveness; (3) the PRIME study did not and would not provide necessary data regarding aducanumab’s effectiveness; (4) the data provided by the Company to the FDA’s Peripheral and Central Nervous System Drugs Advisory Committee did not support finding efficacy of aducanumab; and (5) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 12, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1981.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, P.A.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

[email protected]

[email protected]

[email protected]

www.rosenlegal.com

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

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Georgia Power continues to make progress on ash pond closure at Plant Hammond with dewatering process scheduled to begin in December

Three ash ponds at Hammond to be completely excavated with ash stored in a permitted, lined landfill, one ash pond to be closed in place using proven engineering methods and closure technologies

PR Newswire

ATLANTA, Nov. 17, 2020 /PRNewswire/ — Georgia Power continues to make progress towards the closure of four ash ponds at Plant Hammond with the dewatering process scheduled to begin in December. Dewatering marks a significant step towards completing the closure process, and Georgia Power’s ash pond closure plan for Plant Hammond is specifically designed for the site to help ensure water quality is protected every step of the way.

Three ash ponds at Plant Hammond will be completely excavated, with the ash stored in a permitted, lined landfill and one ash pond will be closed in place using proven engineering methods and closure technologies. Ash pond closures are site-specific and consider multiple factors, such as pond size, location, geology and amount of material; and each closure is certified by a team of independent, professional engineers.

“As we begin the dewatering process at Plant Hammond, we are pleased with the progress we have made on our ash pond closures at all of our plants across the state,” said Dr. Mark Berry, vice president of Environmental & Natural Resources for Georgia Power. “We continue to focus on safety and meeting all requirements throughout the process to fulfill our longstanding commitment to protect the environment, our local communities and water quality every step of the way. Throughout the process, clear communication to our customers and the community about our progress remains a priority.”

The ash pond dewatering plan for Plant Hammond has been approved by the Georgia Environmental Protection Division (EPD) and describes the water treatment system, controls and monitoring that will be used during the process to help ensure that the water discharged is protective of water quality standards. The planned on-site closure methods are being permitted and regulated by the EPD.

Communication regarding the closure plan is provided through EPD permitting notifications as well as posting on Georgia Power’s website. To read more about Plant Hammond’s ash pond closure and dewatering process, click here.

Georgia Power first announced plans to permanently close all of its ash ponds in September 2015, with initial plans released in June 2016. Georgia Power’s ash pond closure plans fully comply with the federal Coal Combustion Residuals (CCR) rule, as well as the more stringent requirements of Georgia’s state CCR rule. Georgia was one of the first states in the country to develop its own rule regulating management and storage of CCR such as coal ash. The state rule, which goes further than the federal rule, regulates all ash ponds and landfills in the state and includes a comprehensive permitting program through which the EPD will approve all actions to help ensure ash pond closures are protective of water quality.

Protecting Water Quality

Since 2016, Georgia Power has installed more than 550 groundwater monitoring wells around its ash ponds and on-site landfills to actively monitor groundwater quality to help ensure the company is being protective of lakes, rivers and drinking water. In 2020 alone, there have been 1,292 groundwater samples collected and 54 groundwater reports completed.

Third-party professional engineers and geologists direct the appropriate placement of monitoring wells for Georgia Power based on site-specific geology. Independent, third-party professionals perform sampling, with analysis by accredited, independent laboratories.

Monitoring is being conducted in compliance with federal and state laws and regulations. The first round of testing was completed with results published in August 2016, more than 18 months ahead of federal requirements, and the company continues to post testing results on Georgia Power’s website and report them to the EPD.

Dewatering Process

The dewatering process marks a significant step towards completing the ash pond closure process and is now underway at six sites: Plants Bowen, McDonough, McManus, McIntosh, Branch and Yates, with plans approved by the EPD for Plant Mitchell. Georgia Power’s commitment to protecting water quality of surface waters, such as lakes and rivers, includes comprehensive and customized dewatering processes during ash pond closures. The company’s process treats the water to help ensure that it meets the requirements of the plant’s wastewater discharge permits approved by the EPD and is protective of applicable water quality standards.


About Georgia Power


Georgia Power is the largest electric subsidiary of Southern Company (NYSE: SO), America’s premier energy company. Value, Reliability, Customer Service and Stewardship are the cornerstones of the Company’s promise to 2.6 million customers in all but four of Georgia’s 159 counties. Committed to delivering clean, safe, reliable and affordable energy at rates below the national average, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, coal and natural gas, as well as renewables such as solar, hydroelectric and wind. Georgia Power focuses on delivering world-class service to its customers every day and the Company is consistently recognized by J.D. Power and Associates as an industry leader in customer satisfaction. For more information, visit www.GeorgiaPower.com and connect with the Company on Facebook (Facebook.com/GeorgiaPower), Twitter (Twitter.com/GeorgiaPower) and Instagram (Instagram.com/ga_power).


Cautionary Note Regarding Forward-Looking Statements


Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning ash pond closure and ash removal plans and schedules. Georgia Power cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Georgia Power; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, Georgia Power’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the impact of recent and future federal and state regulatory changes, including tax, environmental, and other laws and regulations to which Georgia Power is subject, as well as changes in application of existing laws and regulations; the extent and timing of costs and legal requirements related to CCR; current and future litigation or regulatory investigations, proceedings, or inquiries; the ability to control costs and avoid cost and schedule overruns during the development, construction and operation of facilities or other projects; advances in technology; state and federal rate regulations and the impact of pending and future rate cases and negotiations, including rate actions relating to cost recovery mechanisms; catastrophic events such as fires, earthquakes, explosions, floods, tornadoes, hurricanes and other storms, droughts, pandemic health events, or other similar occurrences; and the effect of accounting procurements issued periodically by standard-setting bodies.  Georgia Power expressly disclaims any obligation to update any forward-looking information.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/georgia-power-continues-to-make-progress-on-ash-pond-closure-at-plant-hammond-with-dewatering-process-scheduled-to-begin-in-december-301175256.html

SOURCE Georgia Power

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Convex Group Raises $1 Billion of Additional Capital

Convex is Well-Positioned to Capitalize on Insurance Market Opportunity

All amounts
in U.S. dollars 
unless otherwise stated

TORONTO, Nov. 17, 2020 (GLOBE NEWSWIRE) — Onex Corporation (“Onex”) (TSX: ONEX) and its affiliated funds (the “Onex Group”), along with GIC, announced that they and a consortium of existing and new co-investors have committed to invest $1 billion in Convex Group Limited (“Convex” or the “Company”). This capital raise is subject to customary regulatory approvals.

Convex is a specialty insurer and reinsurer focused on complex risks that launched with $1.7 billion of committed capital in April of 2019. Convex’ initial invested capital was raised from the Convex management team, Onex Partners V, PSP Investments and a consortium of co-investors. The additional capital has been committed by the original investors as well as multiple new investors led by GIC.

Bobby Le Blanc, President of Onex and Head of Onex Partners, commented, “Over the past eighteen months, the Convex management team has made significant progress in realizing our original investment thesis, having successfully executed on its recruiting plan, implemented key operational systems and processes, established strong relationships with brokers, and written over $1 billion in premiums. This momentum, coupled with the favorable P&C insurance market conditions, have further improved the risk-adjusted return opportunity and make us confident in the continued success of the business.”

Stephen Catlin, CEO of Convex, said, “Onex and our existing investor base have provided us with tremendous support in building the business and we welcome the new investor partners, including GIC. We are delighted to have additional capital as this will enable us to take full advantage of the hardening market.”

Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC, said, “GIC is pleased to partner with Stephen, Paul, and the rest of the Convex team given their tremendous success to date and long track record of disciplined underwriting. We believe that Convex’ unique value proposition within complex risk is well-suited for the current market environment. As a long-term investor, we look forward to working alongside Onex and other shareholders to support the Company as it embarks on its next phase of growth.”

Martin Longchamps, Managing Director, Private Equity at PSP Investments, said, “We are pleased to continue our successful partnership with Onex and Convex by supporting the Company’s accelerated growth strategy. The Convex management team has established an agile, world-class specialty insurer with a strong operational foundation. This transaction is in line with our strategy of making sizeable, direct investments in high-quality companies alongside experienced partners.”

The capital raise includes more than $300 million from the Onex Group, including $200 million from Onex Partners V.


About Convex


Convex Group is a specialty insurer and reinsurer focused on complex risks founded by Stephen Catlin and Paul Brand. With operations in London and Bermuda, Convex occupies a unique position in the insurance industry and combines unrivalled experience, reputation and lessons learned with the freedom and independence of a new balance sheet.


About Onex


Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional fainvestors and high net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, senior loan strategies and other private credit strategies; and Gluskin Sheff’s wealth management services including its actively managed public equity and public credit funds. In total, Onex has approximately $36.6 billion of assets under management, of which approximately $6.7 billion is its own shareholder capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

The Onex Partners and ONCAP businesses have assets of $36 billion, generate annual revenues of $22 billion and employ approximately 149,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.


Forward-Looking Statements


This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.

For further information:        
Jill Homenuk
Managing Director, Shareholder Relations and Communications
Tel: 416.362.7711



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Hanover Community Bank Names Michael P. Locorriere as Executive Vice President & Chief Municipal Officer

MINEOLA, N.Y., Nov. 17, 2020 (GLOBE NEWSWIRE) — Hanover Community Bank today announced that Michael Locorriere has joined the Company as Executive Vice President & Chief Municipal Officer.

Mr. Locorriere brings to Hanover extensive municipal relationship expertise with more than 30 years of banking and government experience. At Hanover, Mr. Locorriere will be responsible for all municipal depository activities including developing, maintaining and administering municipal programs that contribute to the effective and profitable operation of the Bank. He previously managed a municipal portfolio that consisted of balances over $550 million. Prior to joining Hanover, Mr. Locorriere served as Executive Vice President & Director of Municipal Banking at Empire National Bank. He also served in various government positions including Comptroller for the Town of North Hempstead as well as being elected to the Suffolk County Legislature representing the northeast communities of Brookhaven Town. Mr. Locorriere has been a member of the following associations: New York State Bankers Association Municipal Finance Committee; Long Island Regional Council Member of Government Finance Officers Association (GFOA); Suffolk and Nassau Association of School of Business Officials; and the Long Island Village Clerks Treasurers Association. Mr. Locorriere is a graduate of Dowling College where he obtained a Master’s in Business Administration.


Investor and Press Contacts

Michael P. Puorro, Chairman & Chief Executive Officer
[email protected] 

Brian K. Finneran, President & Chief Financial Officer
[email protected] 



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KILL CynergisTek and University of California, Irvine Medical Center Extend Vital Security Program Partnership

KILL CynergisTek and University of California, Irvine Medical Center Extend Vital Security Program Partnership

 

–(BUSINESS WIRE)–
CynergisTek, Inc. requests that their press release NewsItemId: 20201117006175 “CynergisTek and University of California, Irvine Medical Center Extend Vital Security Program Partnership” be killed.

The release was issued in error by CynergisTek, Inc.

Investor Relations Contact:

CynergisTek, Inc.

Paul Anthony

[email protected]

Media Contact:

Allison+Partners

Jaime Tero

415-755-8639

[email protected]

KEYWORDS: California Texas United States North America

INDUSTRY KEYWORDS: General Health Health Consulting Data Management Professional Services Technology Other Technology Security

MEDIA:

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Choice NTUA Wireless Continues Its Unwavering Support Of The Navajo Nation

CHOICE NTUA WIRELESS CHOOSES TO EXPAND ITS OFFERINGS IN TIME OF NEED, KEEPING THEIR DOORS OPEN AND PROVIDING UNRIVALLED SUPPORT

CHINLE, Ariz., Nov. 17, 2020 (GLOBE NEWSWIRE) — Choice NTUA Wireless, the largest independent rural 4G Network in the West and Navajo Nation’s fastest, most reliable cell phone and internet service provider, has done all in its power to keep Navajo Nation supported and connected during the COVID-19 pandemic. From tripling capacity on over 40 additional sites throughout the Nation, increasing bandwidth and providing faster connectivity Choice NTUA Wireless has embodied the “Keeping Americans Connected Pledge.”

By all accounts Navajo Nation has been particularly hard hit during the COVID-19 Pandemic. Continued support and partnership is needed during these unprecedented times. Facing the challenge of the global pandemic, NTUA and Choice NTUA Wireless did not shut their business doors. Instead, NTUA and Choice NTUA Wireless have strengthened their partnership and are determined to keep looking for solutions to keeping stores open, expanding student offerings, providing elevated Wi-Fi options for teachers, offering free public Wi-Fi, and constructing additional sites are some of the accomplishments the company has put on offer to serve the Navajo People.

With people either working or studying from home at an all time high, demands on the Broadband Internet network are unprecedented. In order to increase its capacity, Choice NTUA Wireless has included Special Temporary Authorities (STAs) to utilize other carriers’ unused spectrum and construction of 600MHZ and CBRS overlays on 102 sites that serve the Nation. Special discounted, and in some cases, free broadband plans have been utilized by over 700 Students and Teachers. Choice NTUA Wireless worked with NTUA to purchase high capacity Wi-Fi devices to be deployed around the Navajo Nation for Students and the Public to access broadband Internet for on-line coursework. To date, 38 of these devices are in service on the Nation with two more scheduled to be deployed by the end of the year.

“We are extremely proud of the way the NTUAW team has stepped up for its customers and community in this time of need. Our goal more than ten years ago in partnering with NTUA and the Navajo Nation was to address the poor and very expensive wireless service on the Nation, and our team has worked hard throughout the COVID-19 crisis to maintain and improve services,” said Michael Prior, CEO of ATN International. “Beyond that, the team has secured the help of national carriers and the federal government, and then deployed very complex and difficult network expansion and upgrades in record time. I am amazed by the dedication and skill of the team in delivering for their customers, and I know they are working hard on completing this expansion. This is the very reason NTUAW was created – to meet and enhance the communication needs of the Navajo Nation.”

Though Navajo Nation has been particularly hard hit by Coronavirus COVID-19, Choice NTUA Wireless continues to work to protect the vulnerable and mitigate the impact of the pandemic.

Other projects include NTUA and Choice NTUA Wireless launching the Pinedale Tower – the first of their completed CARES Act projects. There are currently 101 other sites under construction with High Speed Broadband overlays funded by CARES. Additionally, Choice NTUA Wireless has been instrumental in providing bandwidth to keep emergency services such as hospitals and Fire Departments functioning at top speed.

“When COVID-19 hit the area, we understood what needed to be done so people could shelter safely at home and still have the ability to work from home or to attend school on-line,” said NTUA General Manager Walter Haase. “This is the very reason NTUAW was created – to meet and enhance the communication needs of the Navajo Nation. Being able to contact emergency services is critical, especially during a pandemic. In the event of an emergency, the last thing families should have to worry about is finding a (communications) signal.”

At the request of both the Navajo Nation Office of the President & Vice-President, the Office of the Speaker and the Navajo Nation Human Rights Commission, Choice NTUA Wireless also was able to provide Free Broadband to support the 2020 Census Events across the Nation. In addition to these achievements, Choice NTUA Wireless has also been on the ground helping to distribute food and care packages to 524 families in Kayenta, Arizona today in order to help them stay home and stay safe during the pandemic.

As the trying times of 2020 carry on, Choice NTUA Wireless will continue its steadfast support of the Navajo People well beyond – proving to be a true and reliable partner.

For more information please visit www.choice-wireless.com and www.choice-wireless.com/press-contact.html to contact.

About Choice NTUA Wireless

Choice NTUA Wireless is a facilities based carrier that is majority Navajo-owned through NTUA (Navajo Tribal Utility Authority). Choice NTUA Wireless formally launched in 2014 and provides 4G LTE fixed/mobile broadband and voice across the Navajo Nation. 98% of its network is 4G and its customers enjoy the ability to access their voice and data from anywhere in the continental U.S.

Contact:
Tom Guthrie SVP & GM
Choice Wireless & Broadband
[email protected]
www.choice-wireless.com/press-contact.html



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SHAREHOLDER ACTION REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Interface, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

SHAREHOLDER ACTION REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Interface, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Interface, Inc. (“Interface” or “the Company”) (NASDAQ: TILE) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between March 2, 2018 and September 28, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before January 11, 2021.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Interface failed to maintain appropriate internal controls over financial reporting. The Company reported inflated income and earnings per share in 2015 and 2016. Both the Company and certain employees were under SEC investigation since November 2017, but actively hampered the investigation and downplayed the Company’s wrongdoing to the market. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Interface, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

The Schall Law Firm

Brian Schall, Esq.

www.schallfirm.com

Office: 310-301-3335

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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Ultra Health: New Mexico Medical Cannabis Enrollment Surpasses 100,000 Patients Statewide

Despite record milestone, cultivation limits prevent adequate supply and increase costs of medicine for patients

ALBUQUERQUE, N.M., Nov. 17, 2020 (GLOBE NEWSWIRE) — Patient enrollment in New Mexico’s Medical Cannabis Program reached 100,021 patients as of October 31, 2020, according to data released by the New Mexico Department of Health (NMDOH). This represents an increase of 21,659 patients or 28% over October 2019 enrollment. Patients choose Ultra Health as their preferred cannabis provider 5 to 1. The operator has 21 locations statewide.

New Mexico currently has a patient penetration rate of 6% of all adults. Enrollment in the program has substantial room to grow, as neighboring Oklahoma has a patient penetration rate of 12% of adults statewide.

Despite reaching a record milestone, New Mexico’s medical cannabis industry continues to struggle to produce adequate supply to meet demand and lower the price of medicine due to arbitrary plant caps not found in the statute.

On November 1, 2018, then District Court Judge David K. Thomson ruled the previous NMDOH cap was arbitrary, capricious, and frustrated the purpose of the Lynn and Erin Compassionate Use Act. At the time, there were just 14,700 plants licensed for 62,889 patients equating to a ratio of less than ½ plant per patient.

As of October 31, 2020, the 34 producers licensed 51,950 plants in total, equating to only ½ plant per patient. In comparison, neighboring Colorado licenses a full 9 plants per enrolled medical cardholder. The medical cannabis programs in Nevada, Arizona, and Oklahoma do not mandate any plant production limitations.

“After all the effort to achieve adequate supply and Judge Thomson’s order, there has been practically zero increase in available medicine per patient,” said Duke Rodriguez, CEO and President of Ultra Health®. “The program’s growth and patient demand have quickly outpaced the arbitrary increase to 1,750 plants. NMDOH now has a duty to increase plants to achieve the purpose of the Act and overall patient wellbeing.”

Furthermore, Judge Thomson wrote in the 60-page plant count ruling, “DOH has a duty/obligation to ensure patients enrolled in the Medical Cannabis Program can access an adequate supply of medical cannabis in New Mexico.”

REGIONAL ANALYSIS

New Mexico is the only state in its region that enforces a burdensome plant count limit on cannabis producers. Neighboring Arizona, Oklahoma, as well as Nevada do not mandate any caps on cannabis cultivation.

Colorado essentially has no plant count limit because producers utilize far less than the total plants recommended. Colorado’s medical program currently allows a maximum of 771,949 plants to serve 84,438 patients. At a minimum, Colorado approves up to 6 plants per patient and can approve up to a maximum of 99 plants per patient with a physician recommendation. Per the most recent data, an average of 326,288 plants is cultivated for medical use monthly.

Under Colorado standards, no less than 600,000 plants would be recommended to serve New Mexico’s 100,021 patients statewide. This would require New Mexico medical cannabis operators to increase their production by 11 times to meet Colorado’s standard of care. These numbers would need to be increased further if the adult-use of cannabis were approved in New Mexico.

Insufficient cultivation limits have not only impacted access to medicine, but also the price of medical cannabis in New Mexico. The average price per gram as of June 30, 2020, was $9.89 while neighboring Colorado reports the average price per gram of medical cannabis is $2.86. The price of medicine in New Mexico has remained relatively the same over the last several years while other programs have seen steady declines in the cost of medicine.

The high price of medicine is especially concerning, as 26% of patients in the New Mexico’s program report they earn less than $20,000 annually, according to an NMDOH-commissioned survey by Research & Polling Inc. Medical cannabis patients are required to pay for their medicine out of pocket, therefore creating an excessive burden for patients to access medicine at prices they can afford.

Increasing the plant count limit or removing arbitrary limits entirely would stimulate lower prices for medicine, improved product availability, and increased product variety for varying patient needs.

Even Utah’s fledgling medical program has more flexible cultivation limits than New Mexico. Utah allows for 100,000 square feet per indoor cultivation licensee and nearly 175,000 square feet per licensee for outdoor cultivation to serve just 10,000 patients statewide.

Earlier this month, lawmakers in Texas pre-filed 13 cannabis-related bills for the state’s 2021 Legislative session. Among the measures is a bill that would put legalization of cannabis for adult-use on the ballot, expand access to high-THC cannabis medicine, and allow physicians to certify cannabis to treat any condition they see fit.

If the measures pass, Texas would join all neighboring states in having a more broad and patient-centric approach to cannabis than New Mexico.

LEGALIZATION OUTLOOK

As legislators contemplate the legalization of cannabis for adult use in the 2021 Legislative session, New Mexico’s medical program will need to quickly allow for more plants to be cultivated statewide to absorb patient demand and future demand from adult-use purchasers.

At a minimum, legalization needs to lift arbitrary caps on production, permit current producers to produce more plants several months before adult-use sales commence, allow patients and adults to purchase cannabis in amounts that fit their needs, and expand licensing to allow new entrants, including microbusinesses, to enter New Mexico’s cannabis market.

All of these initiatives will protect the medical program from running out of medicine, authorize cannabis purchasers to move into the regulated market, and bestow more opportunities for New Mexicans to engage in a new industry estimated to be valued at $800 million.

Today, 15 states and Washington D.C. have legalized cannabis for adult-use. Arizona voters approved a legalization measure earlier this month, along with New Jersey, South Dakota, and Montana. Legalization in Arizona could be live as soon as March 2021.

A total of 36 states have legalized cannabis for medical use, including South Dakota and Mississippi which legalized medical use via ballot measure earlier this month.

New Mexico’s Medical Cannabis Program reported enrollment does not include newly enrolled reciprocal participants. At least 5,300 reciprocal participants have enrolled in New Mexico’s Medical Cannabis Program since July, according to the data issued by NMDOH.

New Mexico’s total patient participation including reciprocity is at 105,021 active participants. The program is expected to support more than 110,000 patients and reciprocal participants by the end of the year.

Ultra Health is New Mexico’s #1 Cannabis Company and the largest vertically integrated medical cannabis provider in the United States. The provider currently operates 21 dispensary locations statewide, with another 10 stores slated to open by the fourth quarter of 2020. Ultra Health provides unparalleled medical cannabis care by producing accurately dosed, smokeless cannabis products such as sublingual tablets, oils, pastilles, suppositories and more through its partnership with Israeli pharmaceutical group Panaxia. Ultra Health has been at the forefront of patient-rights issues and continues to fight for adequate supply and rural access in the New Mexico medical cannabis market.

Contact:
Marissa Novel  480-404-6699
[email protected]



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NW Natural Holdings Issues Inaugural Environmental, Social and Governance Report

NW Natural Holdings Issues Inaugural Environmental, Social and Governance Report

2019 report incorporates disclosures under SASB and the AGA reporting template

PORTLAND, Ore.–(BUSINESS WIRE)–
NW Natural Holding Company (NYSE: NWN) has released its first Environmental, Social and Governance (ESG) Report illustrating important work the company is focused on, how its values guide decisions, and its progress on safety, carbon reduction, diversity, community engagement and governance goals.

“Our key initiatives include aggressively pursuing renewable supplies for our gas utility customers, diversifying into and growing our water and wastewater utility business, and working to actively advance social justice in our workplace and our wider community,” said David H. Anderson, NW Natural president and CEO. “This work is not easy and there are no shortcuts, but each year we set goals, make strides and move closer to achieving our vision.”

The ESG report, posted online, incorporates disclosures recommended for the industry by the Sustainability Accounting Standards Board (SASB) and the American Gas Association reporting template.

Highlights from the report include the following:

  • Continued to operate one of the most modern, tightest natural gas systems in the nation
  • Employed strict safety measures amid COVID-19 pandemic in 2020
  • On track to meet or exceed NW Natural’s voluntary carbon savings goal of 30% by 2035 associated with its own operations and the use of its product by sales customers
  • Saved 5.5 million therms for customers through energy-efficiency programs funded by NW Natural and facilitated by the Energy Trust of Oregon
  • Doubled the percentage of Black, Indigenous, and People of Color (BIPOC) representation in its workforce since 2000
  • Required and achieved 100% participation in ethics and compliance training from active NW Natural and NW Natural Gas Storage employees
  • Contributed over $1.2 million and 5,000 employee hours to nonprofits in our communities
  • Provided safe, clean, reliable and affordable water and wastewater service and invested in critical infrastructure and improvements

“I hope this ESG report, through both stories and statistics, conveys the commitment and passion we bring to our work every day in service of our communities and customers,” added Anderson. “NW Natural has a 162-year history of being a dedicated energy provider, leading employer and innovative community ally, and we plan to continue this legacy with passion and principle.”

ABOUT NW NATURAL HOLDINGS

Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and through its subsidiaries has been doing business for over 160 years in the Pacific Northwest. It owns NW Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), and other business interests and activities.

NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through nearly 770,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores.

NW Natural Holdings’ subsidiaries own and operate 35 Bcf of underground gas storage capacity with NW Natural operating 20 Bcf in Oregon.

NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. NW Natural Water currently serves approximately 66,000 people through about 26,000 connections. Learn more about our water business at nwnaturalwater.com.

Additional information is available at nwnaturalholdings.com.

Media Contact:

Melissa Moore

(503) 818-9845 pager

Investor Contact:

Nikki Sparley

(503) 721-2530

KEYWORDS: United States North America Oregon

INDUSTRY KEYWORDS: Energy Utilities Environment Oil/Gas

MEDIA:

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Valvoline Instant Oil Change raises over $56,410 for cancer research and patient care at Dana-Farber Cancer Institute

52 Valvoline Instant Oil Change(SM) locations participated in A Chance for Kids & Families® program for the 7th consecutive year to raise $56,410, for the Jimmy Fund bringing their fundraising total for the program to over $297,400.

PR Newswire

NEWTON, Mass., Nov. 17, 2020 /PRNewswire/ — Valvoline Instant Oil Change (VIOC) customers helped fight cancer this fall by contributing $1 or more to the Jimmy Fund through the A Chance for Kids & Families® program. The Jimmy Fund solely supports Boston’s Dana-Farber Cancer Institute, raising funds for adult and pediatric cancer care and research to improve the chances of survival for cancer patients around the world.

This year was the seventh year that VIOC participated in the fundraising program to benefit the Jimmy Fund. VIOC raised $56,410 totaling their contribution to the Jimmy Fund through the A Chance for Kids and Families program to over $297,400 since 2014.

“Dana-Farber is one of the leading cancer institutes in the world and fundraising for their life saving work is more important now than ever,” said Don Smith, CEO of Henley Enterprises, Inc, the largest franchisee of Valvoline Instant Oil Change. “We are extremely proud of the amount raised for The Jimmy Fund this year. Every dollar truly makes a huge impact on compassionate patient care and ground-breaking research being done at the institute.”

“For the past 7 years, Valvoline Instant Oil Change has been supporting Dana-Farber and the Jimmy Fund through A Chance for Kids and Families,” said Suzanne Fountain, Vice President of the Jimmy Fund. “It’s inspiring to see support from stores and customers throughout New England. This program is a true testament to the generous spirit of Valvoline Instant Oil Change and their loyal customers. We thank them for their continued partnership as we move one step closer to a world without cancer.”

About Valvoline™

Valvoline Inc. (NYSE: VVV) is a leading worldwide marketer and supplier of premium branded lubricants and automotive services, with sales in more than 140 countries. It operates and franchises approximately 1,400 quick-lube locations, and is the No. 2 chain by number of stores in the United States under the Valvoline Instant Oil Change(SM) brand. To learn more, visit www.valvoline.com.

About Henley Enterprises, Inc.

Founded in 1989, Henley Enterprises, Inc. is the largest VIOC franchisee. They operate more than 215 service centers in 11 states including: California, Delaware, Florida, Louisiana, Massachusetts, Maryland, New Hampshire, New Jersey, Pennsylvania, Rhode Island and Virginia.

About the Jimmy Fund

The Jimmy Fund, established in Boston in 1948, is comprised of community-based fundraising events and other programs that, solely and directly, benefit Dana-Farber Cancer Institute’s lifesaving mission to provide compassionate patient care and groundbreaking cancer research for children and adults. The Jimmy Fund is an official charity of the Boston Red Sox, the Massachusetts Chiefs of Police Association, the Pan-Mass Challenge, and the Variety Children’s Charity of New England. Since 1948, the generosity of millions of people has helped the Jimmy Fund save countless lives and reduce the burden of cancer for patients and families worldwide. Follow the Jimmy Fund on Facebook, Twitter and Instagram: @TheJimmyFund.

Contact:

Ali Rose

(617) 340-8937
[email protected]

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SOURCE Henley Enterprises, Inc.