Market Newsdesk

Rogers, Arkansas , Dec. 17, 2020 (GLOBE NEWSWIRE) — America’s Car-Mart, Inc. (NASDAQ: CRMT) opened its 151^st dealership located in Edmond, OK.  This will be the 28^th dealership in Oklahoma and the third dealership opening in fiscal year 2021.  The dealership will be managed by April Renfro.

“A great deal of thought and foresight is placed on our decisions about where to grow. We select communities where we believe we can fill a void when it comes to what we offer at Car-Mart,” said Jeff Williams, President and Chief Executive Officer, “We’re different from traditional dealerships. In addition to providing quality, used vehicles we also provide financing and exceptional service after the sale. We are committed to providing peace of mind for our customers and we believe communities are better when we are there.”

“We’re excited about joining the Edmond community. It’s a growing area with a lot of potential,” said Ms. Renfro. “At Car-Mart, we offer a unique buying process for our customers where it’s not just a purchase, but an experience. We get to know our customers and work closely with them on flexible financing that meets their needs and budgets.  We stay with them throughout their journey from the time they buy their vehicle until they pay-off their vehicle and beyond.  We keep them on the road.”

This new dealership is located at 909 S Broadway; the hours are 9 a.m. to 6 p.m., Monday through Saturday. The store is closed on Sundays. Customers can also shop online at Car-Mart.com, or begin the financing approval process with Car-Mart’s online application at Car-Mart.com/getapproved.

About America’s Car-Mart

America’s Car-Mart operates automotive dealerships in twelve states and is one of the largest publicly-held automotive retailers in the United States focused exclusively on the “Integrated Auto Sales and Finance” segment of the used car market.  The Company specializes in the sale of quality, pre-owned vehicles, and features flexible used car financing options for customers with bad credit, no credit, repossessions or even past bankruptcy and emphasizes superior customer service and the building of strong personal relationships with its customers. The Company operates its dealerships primarily in smaller cities throughout the South-Central United States selling quality used vehicles and providing financing for substantially all of its customers.  For more information about America’s Car-Mart, including investor presentations, please visit our website at www.car-mart.com.

Car-Mart was named to the Forbes America’s Best Mid-Size Employers list for two consecutive years in 2019 and 2018 and has sold over 700,000 vehicles since fiscal year 2000.

Contacts:Jeff Williams, CEO at (479) 464-9944 or Vickie Judy, CFO at (479) 464-9944

• Hyrimoz
  
  ^®
  
   approved for use in all same indications as reference medicine* including rheumatology, gastroenterology and dermatology.
• Third Sandoz biosimilar approved in Canada in past 11 months expanding its biosimilars portfolio to six and highlighting Sandoz commitment to broadening access to biosimilars.

BOUCHERVILLE, Quebec, Dec. 17, 2020 (GLOBE NEWSWIRE) — Sandoz Canada Inc. announced today that Health Canada has authorized Hyrimoz^® (adalimumab injection, reference biologic drug: Humira^®) on November 4, 2020 for marketing in Canada. Hyrimoz^® has been approved for the treatment of the same nine (9) life-threatening or serious debilitating conditions in adults and children as the reference medicine*, including the treatment of rheumatoid arthritis, polyarticular juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, adult Crohn’s disease, ulcerative colitis, hidradenitis suppurativa, psoriasis and adult uveitis.

Hyrimoz^® (adalimumab injection) is a fully human tumor necrosis factor (TNF) blocker. Adalimumab targets and blocks TNF, which helps reduce inflammation. The notice of compliance has been issued for three subcutaneous injection dosage forms: 40 mg/0.8 mL and 20 mg/0.4mL in prefilled syringe, 40 mg/0.8 mL in autoinjector.

“This approval is excellent news as over 42,000 Canadian patients are currently taking an adalimumab biologic¹. Our team is working hard to launch Hyrimoz^® by February 15^th 2021 to increase access to this high-quality, affordable biologic treatment for Canadian healthcare professionals and their patients. We are currently working on the reimbursement of Hyrimoz^® to enable rapid access for patients.” said Karine Matteau, Vice President, Bio-Generic Hospital/Physician channel and Head Biosimilars at Sandoz Canada. “Sandoz is dedicated to growing our biosimilars portfolio in Canada and Hyrimoz^® is an important driver for this in the immunology area, as it complements the recent biosimilar launches we had this year in immunology and oncology.”

“Sandoz is a global leader and a pioneer in biosimilars research, development, manufacturing and commercialization enabled by the Novartis group’s fully integrated end-to end model. We pride ourselves as being one company delivering both innovation and sustainability to the healthcare system in Canada. Hyrimoz^® was successfully launched in Europe in 2018 and we are very proud that we have obtained approval to market it in Canada as it will allow us to broaden the use of biosimilars in the country, which will in turn reduce growing costs to the healthcare system and generate savings that can be reinvested in healthcare resources,” added Michel Robidoux, President and General Manager of Sandoz Canada.

A patient support program will be available to patients treated by Hyimoz^®, providing guidance with reimbursement navigation, financial assistance, administrative support, as well as education for patients.

Sandoz Canada’s biosimilars portfolio includes biologic medicines covering the therapeutic areas of oncology, immunology and endocrinology.

About Biosimilars

A biosimilar biologic medicine, or biosimilar, is a biologic medicine that has demonstrated it is highly similar and has no clinically meaningful differences in efficacy and safety compared to an original-brand (“reference”) biologic² already authorized for sale. Biosimilars may become commercially available following the expiry of patents and data protection periods of the reference biologic medicine.

Since 2009, Health Canada has approved 32 biosimilars of original-brand biologics present on the Canadian market³.

Biosimilars have the potential to improve access to effective treatments while reducing the current economic burden on the Canadian healthcare system, patients, physicians and taxpayers as a whole. The Patented Medicines Pricing Review Board has estimated that private and public drug plans across Canada could save from $332 million CDN to $1.81 billion CDN in the third year following biosimilar entry across a portfolio of product⁴. The broader use of biosimilar medicines, including the implementation of biosimilar switching policies, can also help public and private drug plans improve their sustainability by adding new medicine listings and expanding existing medication coverage for patients. To that effect, the Ontario Drug Policy Research Network (ODPRN) recently released study report⁵ demonstrates that mandatory non-medical switching policies introduced in all provinces in 2019 (etanercept and infliximab only) could generate $239.6 million in national savings.

For further information on biosimilars in Canada, visit BiosimilarsGeneration.ca, which aims to support and educate patients, healthcare professionals and Canadians by providing policy updates from public drug plans, as well as evidence-based information and resources from Canadian, international research and clinical communities, and patient organizations representing Canadians living with chronic diseases who take biologic medicines.

^®


Trademark owned by the registere
d
owner.

Disclaimer

The foregoing release contains forward-looking statements that can be identified by terminology such as “potential,” “can,” “soon,” “planned” or similar expressions, or by express or implied statements regarding potential marketing or new labelling approvals for Hyrimoz^® or other potential products in the Sandoz pipeline of biosimilars, or regarding potential future revenues from the sale of Hyrimoz^® or other marketed products from the Sandoz biosimilars portfolio or potential future revenues from the Sandoz portfolio of biosimilars in development. You should not place undue reliance on these statements. These forward-looking statements reflect management’s current beliefs and expectations regarding future events and involve known and unknown risks and significant uncertainties. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results could differ materially from those set forth in the forward-looking statements. There can be no guarantee that Hyrimoz^® or any other marketed product from the Sandoz portfolio of biosimilars will be submitted or approved for sale in other markets, or at any particular time. There can also be no guarantee that potential products from the Sandoz portfolio of biosimilars under development will be submitted or approved for sale in other markets, or at any particular time. There can also be no guarantee that, if approved, potential products in the Sandoz portfolio of biosimilars in development will be approved for all indications listed on the label of the reference product. There can also be no guarantee that Hyrimoz^®, other marketed products in the Sandoz portfolio of biosimilars or other potential products in the Sandoz portfolio of biosimilars in development will be commercially successful in the future. In particular, management’s expectations regarding Hyrimoz^® and other biosimilar candidates and marketed products could be affected by, among other things, regulatory actions, delays or government regulation generally; uncertainties inherent in research and development, including the results of clinical studies and further analysis of existing clinical data; competition in general, including potential approval of new versions of Hyrimoz^®; the global trend toward rationalizing healthcare costs, including pricing pressures and reimbursement issues from healthcare payers, the general public and governments; the outcome of litigation, including intellectual property litigation and other legal actions to prevent or restrict the sale of Sandoz biosimilar products; physicians’ and patients’ particular prescription preferences; general economic and industry conditions; impacts of the COVID-19 pandemic; manufacturing, safety or quality issues; and other risks and factors referred to in Novartis AG’s Form 20-F on file with the US Securities and Exchange Commission. Sandoz is providing the information in this press release as of today and does not undertake any obligation to update any forward-looking statements described herein as a result of new information, future events or otherwise, except as required by the law.

About Sandoz

Sandoz International GmbH is a world leader in generics and biosimilars and a division of the Swiss multinational Novartis AG. A true leader in its field, Sandoz Canada markets and distributes a wide range of generics, biosimilars and specialty products.
www.sandoz.ca

Follow us on LinkedIn: https://www.linkedin.com/company/sandoz-canada/

References

1. Internal estimation based on IMS IQVIA analysis manager, September 2019
2. Health Canada Biosimilars Fact Sheet: Biosimilars Explained. https://www.canada.ca/en/health-canada/services/drugs-health-products/biologics-radiopharmaceuticals-genetic-therapies/applications-submissions/guidance-documents/fact-sheet-biosimilars.html
3. https://health-products.canada.ca/noc-ac/index-eng.jsp – accessed on November 10, 2020
4. Potential savings associated with biosimilars in Canada: Government of Canada. http://www.pmprb-cepmb.gc.ca/view.asp?ccid=1304
5. ODPRN － Crosby, M., Tadrous, M., & Gomes, T. (2020). Potential Cost Implications of Mandatory Non‐Medical Switching Policies for Biologics for Rheumatic Conditions and Inflammatory Bowel Disease in Canada. Clinical Pharmacology & Therapeutics. https://odprn.ca/wp-content/uploads/2020/10/Research-Minute-Cost-Implications-of-Non-Medical-Switching.pdf

^*Humira® (adalimumab) is a registered trademark of AbbVie Biotechnology, Inc.

For interview requests, please contact Paule Pelletier (see contact information below).

Information:                    
Paule Pelletier
Sandoz Canada Inc.
+1-514 702-7699
[email protected] / [email protected]

• One of twenty-one original Illinois issued “super licenses” allowing for 220,000 ft² of THC cultivation canopy as well as processing and manufacturing of extract-based products.
• A highly-limited licensing framework for the State’s 12.6 million residents and over 117 million annual tourists, which is currently generating yearly sales of US $1.3 billion¹, and provides robust economics for the 14 companies currently cultivating cannabis.
• Acquisition comes with an operating 23,572 ft² grow and manufacturing facility currently selling to the State’s dispensaries as well multiple approved genetics.

TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) — Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”) is pleased to announce it has signed today a definitive agreement to acquire the issued and outstanding shares of Cannabis Capital Partners Inc. (“CCP”), an arm’s length Ontario special purpose vehicle with rights to concurrently purchase medically and recreationally-approved THC cultivation center licenses in the State of Illinois, a 23,572 ft² active cultivation and manufacturing operation, the associated inventory, and the real estate assets including 2 acres of land. 

The current operation is located in Shelbyville, Illinois and was one of the original 21 medical marijuana cultivation center permits. The entity is currently operated by a not-for-profit entity that employs rehabilitation patients and is in good standing with the Illinois Department of Agriculture, the regulator of Illinois’ cannabis cultivation centers.

Strategic Plan:

After closing of the transactions, and upon approval by the Illinois Department of Agriculture (IDOA), RWB intends to migrate the cultivation licenses to its wholly-owned subsidiary’s (Mid-American Growers Inc.) state-of-the-art 3.6 million square foot cultivation facility in Granville, Illinois. Within the parameters of the cultivation center license, RWB would be permitted to expand the plant canopy to 220,000 ft², which would translate to roughly 450,000 ft² of total cannabis operations when including the non-canopy areas as well as processing and manufacturing.

In tandem with cultivation planning, RWB would also have the ability to launch both the Company’s Platinum Vape brand as well as the Company’s exclusively licensed High Times brand throughout the State as the cultivation center license allows for processing of extracts as well as manufacturing of infused goods.

RWB has been cultivating premium CBD and novel cannabinoid flower at the Granville facility for over one year, and the segment of the greenhouse earmarked for the THC operations is near-ready with only minimal retrofits required to convert for THC.

Click here to view a video showcasing RWB’s Granville, IL high-tech greenhouse.

In the Community:

The municipal government of Shelbyville, IL have been tremendously supportive of the current operators and the cannabis industry as a whole. RWB’s near-term plans may include transfer of cultivation licenses to its Granville facility, but the current facility could be more aptly repurposed to operate a craft grow license in the near-term while continuing to provide employment and other economic benefits to the Shelbyville employees and community. A craft grow license would allow RWB to offer a top-shelf indoor product to complement their premium greenhouse products, while benefitting more than one community through job creation.

Mid-American Growers, RWB’s wholly-owned Illinois subsidiary, offers internships and job placements though Illinois Valley Community College, highlighting the Company’s unwavering commitment to the State of Illinois and its municipalities.

The third element of RWB’s community first approach in the State is a large commitment to social equity and social equity dispensary operators. The Company intends to offer social equity dispensaries partnership opportunities to ensure they succeed through branding support, High Times store naming rights, and operational and financial assistance.

Economics:

The Company’s management, as well as its PhD level cultivators, have outlined conservative economics for 220,000 ft² of canopy as follows:

• 100,000 lbs. per year (50g./ft x 4.2 harvests/year)
• US $250 million in annual revenue @ $2,500/ lb. – (current market rate = $3,500/lb.)
• < US $500/ lb. total cash costs
• Multiple opportunities for ancillary revenue through derivative products.

Brad Rogers, Chairman & CEO of RWB commented:


  
“I think for us to enter a state that has a limited license program and has quickly established itself as one of the largest markets by revenue in the US is a watershed moment for our shareholders. We have become familiar with the Illinois market, have a core of skilled employees in our multi- million square foot facility in Granville, and have the rights to High Times branding in Illinois as well as own one of the top selling brands in Platinum Vape, all of which can be leveraged for success in Illinois. I believe that these assets coupled with our commitment to social equity programs and corporate citizenship will provide us with a great opportunity for growth.”

Jeff Field, President of CCP commented:

“
We’ve been deeply immersed in the Illinois cannabis program since its inception and are thrilled to have secured this deal with Red White and Bloom in their acquisition of one of the premier cannabis permits in the country. We were focused on working with only industry-leading cannabis MSO’s whose mission aligned with ours regarding social equity and record expungement. Their commitment to these initiatives, along with their proven operating team, played a key role in our decision-making. We look forward to working with RWB on implementing the State’s transformational social equity initiatives while bringing RWB’s premium and trusted product lines to the Illinois market.”

Illinois Market Overview:

• Illinois population of 12.63 million² consists of approximately 8 million legal-age residents and 100,000+ medical patients
• Current market size based on November’s combined medical and recreational sales is estimated to be US$1.25 billion
• Highest wholesale flower prices of any State; highest per dispensary sales of any State
• Only 21 cultivation/processing permits have been awarded; 21 permits controlled by only 14 companies
• Future permits will be “craft grower” permits limited to 5,000 ft² of canopy and will not include a processing & manufacturing permit (must apply separately) constraining further supply
• Currently 70 Adult Use dispensaries open with state law allowing up to 500 locations

Deal Terms include:

• RWB to acquire the issued and outstanding shares of CCP for the issuance to CCP shareholders of up to 22 million common shares (with applicable resale restrictions) based on certain milestones, including the approval of the ownership transfer of the license and the approval, if sought, of the relocation of the license
• CCP has entered into definitive agreements to acquire the licensed Illinois THC Cultivation Center and related assets from the current operators for a purchase price that shall be satisfied through:
  1. a cash payment US $16.25 million at closing, which will become due 45 days after the Department of Agriculture approves the ownership transfer of the license (anticipated for Q1 2021); and
  2. US $16.25 million will come in the form of an 8%, interest only, 18 month note to the seller with US $8.75 million due within 30 days after the State’s approval for permit relocation.

Upon closing, CCP shall become a wholly owned subsidiary of the company. Closing of the above transactions are subject to a number of conditions that are typical for transactions of this nature, including all applicable regulatory approvals (including IDOA and the Canadian Securities Exchange).

Further details shall be provided at closing.

About Red White & Bloom Brands Inc.

The Company is positioning itself to be one of the top three multi-state cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominantly focusing its investments on the major US markets, including Michigan, Illinois, Massachusetts, Arizona and California with respect to cannabis, and the US and internationally for hemp-based CBD products.

For more information about Red White & Bloom Brands Inc., please contact:

Tyler Troup, Managing Director

Circadian Group IR
[email protected] 

Visit us on the web: www.RedWhiteBloom.com 

Follow us on social media:

Twitter: @rwbbrands
Facebook: @redwhitebloombrands
Instagram: @redwhitebloombrands

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

FORWARD LOOKING INFORMATION

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations.  When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.  The forward-looking statements and information in this press release includes information relating to the proposed acquisition of CCP and CCP’s proposed acquisition of the THC Cultivation Center and related assets in the State of Illinois. There is no assurance that these transactions will be approved by IDOA or the CSE or that, if completed, that these transactions will yield results in line with management expectations. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, among others, the following risks: risks associated with the implementation of the Company’s business plan and matters relating thereto, risks associated with the cannabis industry, competition, regulatory change, the need for additional financing, reliance on key personnel, market size, and the volatility of the Company’s common share price and volume.  Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change.  Investors are cautioned against attributing undue certainty to forward-looking statements.

There are a number of important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information.  Such factors include, among others, risks related to the Company’s proposed business, such as failure of the business strategy and government regulation; risks related to the Company’s operations, such as additional financing requirements and access to capital, reliance on key and qualified personnel, insurance, competition, intellectual property and reliable supply chains; risks related to the Company and its business generally; risks related to regulatory approvals. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized.  It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. While the Company may elect to, it does not undertake to update this information at any particular time.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE.  READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

¹ November 2020’s combined medical and recreational sales, annualized.
² U.S. Census Bureau

STAMFORD, Conn., Dec. 17, 2020 (GLOBE NEWSWIRE) — Independence Holding Company (NYSE: IHC) today reported that AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) for the insurance company subsidiaries of Independence Holding Company.

Chief Executive Officer’s Comments

Roy T. K. Thung, Chief Executive Officer, commented, “We are gratified that AM Best has affirmed our A- (Excellent) rating for all three of our insurance companies.   IHC has a very strong balance sheet with no indebtedness and a very substantial amount of free cash at the corporate level and significant excess capital in our insurance companies. IHC recently declared its semi-annual cash dividend (which is $.44 per share annualized), and we expect to maintain or increase this dividend amount in the foreseeable future. We have made, and are continuing to make, material investments in ramping up our pet and Medicare divisions, which are both high growth lines of business.”

About The IHC Group

Independence Holding Company (NYSE: IHC), formed in 1980, is a holding company that is principally engaged in underwriting, administering and/or distributing group and individual specialty benefit products, including disability, supplemental health, pet, and group life insurance through its subsidiaries (Independence Holding Company and its subsidiaries collectively referred to as “The IHC Group”). The IHC Group consists of three insurance companies (Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company). We also own the following agencies: (i) PetPartners, Inc., our pet insurance administrator; (ii) IHC Specialty Benefits, Inc., a technology-driven full-service marketing and distribution company that focuses on small employer and individual consumer products through its call center, career agents, and Independence Brokerage Group; and (iii) The INSX Cloud Platform through My1HR, our wholly owned Web Based Entity. Our InsureTech division is comprised of our call centers, field and career agents, in-house MarTech artificial intelligence capabilities and domains, including www.healthedeals.com; www.healthinsurance.org; www.medicareresources.org; www.petplace.com; and www.mypetinsurance.com.

Forward-looking Statements


Certain statements and information contained in this release may be considered “forward-looking statements,” such as statements relating to management’s views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements.  Potential risks and uncertainties include, but are not limited to, economic conditions in the markets in which IHC operates, new federal or state governmental regulation, IHC’s ability to effectively operate, integrate and leverage any past or future strategic acquisition, and other factors which can be found in IHC’s other news releases and filings with the Securities and Exchange Commission. IHC expressly disclaims any duty to update its forward-looking statements unless required by applicable law.

CONTACT: Loan Nisser

(646) 509-2107

www.IHCGroup.com

WILMINGTON, Del., Dec. 17, 2020 (GLOBE NEWSWIRE) — Rigrodsky & Long, P.A. announces that it is investigating Anchiano Therapeutics Ltd. (“Anchiano”) (NASDAQ CM: ANCN) regarding possible breaches of fiduciary duties and other violations of law related to Anchiano’s agreement to merge with Chemomab Ltd. (“Chemomab”).  Under the terms of the agreement, Anchiano will issue a number of American Depository Shares of Anchiano to shareholders of Chemomab. Upon the closing of the merger, shareholders of Chemomab are expected to own approximately 90% of the outstanding shares of Anchiano.

To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-anchiano-therapeutics-ltd.

You may contact Seth D. Rigrodsky or Gina M. Serra cost and obligation free at (888) 969-4242 or [email protected].

Rigrodsky & Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide.

Attorney advertising.  Prior results do not guarantee a similar outcome.

CONTACT:

Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242 (Toll Free)
(302) 295-5310
Fax: (302) 654-7530
[email protected]
https://rl-legal.com

BEAMSVILLE, Ontario, Dec. 17, 2020 (GLOBE NEWSWIRE) — With Quebec’s proposed flavour ban looming, it is clear that Minister Dube has not been paying attention. Minister Dube has chosen to remain wilfully ignorant to the science supporting vaping as harm reduction. Flavours are the key to adult adoption and success. Despite every major health organization stating that vaping is less harmful than smoking, Quebec remains on course to ban flavours, the key component making vaping the most effective smoking cessation product in history.

Quebec must look at the global data on flavour bans and recognise that they are ineffective and harmful to public health. Every region that has implemented a flavour ban has seen an immediate increase in smoking rates ranging from 3-9%. This data was again replicated in our own country with Nova Scotia’s flavour ban. The Atlantic Convenience Store Association has stated that cigarette sales had an unprecedented increase as a result of the ban. Surveys conducted by Abducus Data found that nearly 30% of Nova Scotian ex-smokers were at risk of returning to traditional cigarettes.

Perhaps, this return to smoking could be justified if this policy truly prevented youth nicotine experimentation and addiction, however it has been repeatedly proven that flavour bans are ineffective at curbing youth use. The American Cancer Society conducted a study following JUUL’s voluntary removal of flavours from the American market. The study found that youth did not stop vaping and instead switched to the remaining tobacco and mint flavours. This is unsurprising given the Centers for Disease Control and Prevention’s (CDC) findings that 77.7% of youth were vaping for reasons other than flavours. The most common reason given for youth experimentation was curiosity.

The Canadian Vaping Association has always condemned the use of vapour products by youth and non-smokers. Vaping is a tool for smokers to reduce the harm caused by smokers. Yet, regulators must be pragmatic when creating policy or declaring vaping a youth epidemic. Health Canada states that 5% of youth reported vaping in the last 30 days. This 5% of youth does not represent daily vaping or addiction, solely that the respondent had tried vaping within the 30 day period.

Moreover, the study, “Electronic cigarettes, nicotine use trends and use initiation ages among US adolescents from 1999 to 2018,” further proves that the emergence of the vaping industry has not caused harm to youth. In fact, the study has found that vaping may have prevented harm to youth by transitioning nicotine use to a less harmful delivery system. The study concluded, “Electronic cigarettes may have offset conventional smoking among US adolescents between 2010 and 2018 by maintaining the total nicotine use prevalence and diverting them from more harmful conventional smoking. Additionally, electronic cigarette users appear to initiate at older ages relative to conventional smokers, which is associated with lower risk.” Furthermore, as youth smoking rates continue to decline in Canada, it can be concluded that vaping is not acting as a gateway to traditional cigarettes as claimed by some.

The CVA is a proponent for strong youth protection measures which balance adult access with harm reduction, such as restricting the sale of flavoured products to age-restricted specialty vape stores. However, Quebec has failed to create balanced and equitable policy. The data has concluded that Quebec’s proposed policy will be ineffective in preventing youth vaping and will undo the progress vaping has made in reducing smoking rates. Vaping has presented an opportunity to reduce smoking prevalence at a faster rate then previously thought possible. Quebec must embrace all forms of harm reduction.

For more information please contact :

John Xydous
Regional Director
[email protected]
+1 514 701.7127

 

TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) — In the last 24 hours alone 18 residents have died and there have been 115 new reported COVID-19 infections in Ontario’s long-term care homes.

The second wave of COVID-19 hit long-term care on August 30 with the outbreak at Extendicare’s West End Villa in Ottawa. Over the following weeks, that outbreak grew and outbreaks spread across the city. By the end of the month, long-term care homes across the province were falling into outbreak, first into the hotspots, then from border to border across the south, into Simcoe Muskoka and up to Thunder Bay.

As of December 15, four-thousand five hundred and ninety-four residents and staff had been infected in the second wave (since September 1). Including yesterday’s death toll, the number of residents that have died in the second wave alone is more than 700.

Clearly the measures taken in and after Wave 1 were not sufficient, says the Ontario Health Coalition.

A new report released today by the Ontario Health Coalition does a deep dive into the policies and plans by the Ford government and reveals what has gone wrong.

“There has been a failure of leadership in this province and a failure to competently plan for the second wave. We are now paying the price in the most horrible of ways,” said Natalie Mehra, executive director of the Ontario Health Coalition and author of the 66-page report titled A Call to Conscience: The COVID-19 Crisis in Ontario’s Long-Term Care Homes.

“The most egregious failure by the Ford government is their total refusal to recruit the thousands of staff needed to replace those who are sick and who have left. Without staff there is no care and infection control,” she said, citing homes where, right now, ten months into the pandemic, segregating COVID-positive residents from those who are not infected has either not happened or has fallen apart because there are no staff to do it.

“The second major omission is the provincial government’s refusal to hold the homes accountable for failure to provide PPE and needed supplies, ensure that infection control practices are actually being done, and have enough staff to give residents care and keep them safe,” she said. Most of the homes are for-profit and they have close ties to this government. “The government made a priority of passing a home care privatization act and a bill to indemnify the long-term care home owners from liability instead of staffing up the homes for the second wave, building testing and contact tracing capacity for when schools opened, and planning systematic responses early on when outbreaks can be stopped. There has been a complete failure in planning and an unconscionable failure in accountability.”

The report evaluates the tangled web of directives, guidance, policies that the Ford government and Public Health Ontario leaders have created and finds gaping holes, reports the Coalition. Among the key findings:

• Improvements have been made in stopping staff from working in multiple homes, but agency staff (temps) are expressly excluded and as staffing has collapsed in home after home, they are using more agency staff than ever. Wages have not been improved, except for temporary pandemic pay which has not actually been given to the majority of staff this fall and which is less now than it was in the summer. The government has not required homes to provide full-time work, instead allowing them to replace trained staff with untrained staff and volunteers. In the case of RNs, it has removed the requirement in the Long-Term Care Homes Act that each home have at least one RN on staff 24/7.
• Other improvements include the end of 4-bed shared rooms, which is being done by attrition and is not complete (home operators have not objected as they are paid whether or the beds are occupied or not under changes made by the government).
• There has been a partial improvement as staff have more access to PPE, but the loophole is that PPE only have to be given at staff’s request. Proper supply and use of PPE is not an enforced and accountable and the Coalition cites evidence from a number of homes in large outbreak that have not provided their staff with PPE including N95 masks, gowns, gloves, disinfectant wipes and other supplies.
• Emergency interventions such as Rapid Response Teams from hospitals (SWAT teams), military intervention, management takeovers have saved lives but they are rare, ad hoc, insufficient and only called in when it is too late. The Coalition reports that in the second wave, up to December 3 only 4 homes had management orders and in most of those, the orders came only after scores of residents and staff were infected. Dozens of homes in large outbreak have no management orders, no management agreements, no teams in to support.
• There have been no fines levied, no licenses revoked, even when the most egregious of neglect and incompetence is evident. In fact, homes with abysmal records have been awarded money from the province for new beds and expansions.
• The failure by the government to build capacity for testing, labs and contact tracing over the summer has been fatal. It contributed to the spread of the virus in the homes through October and November both because test results were slow and because it has resulted in unchecked community spread of the virus this fall. However, home operators also have not cohorted residents showing symptoms.
• The failure to make a plan for systematic response to long-term care outbreaks, early, when they can be stopped, has also been fatal. There still is no systematic intervention, no effective monitoring, little enforcement, no accountability.
• There has been no improvement in quality of management and infection control teams in the homes. In Quebec, the government hired in managers who are paired with infection control specialists for each of their 400 long-term care homes this fall and required them to ensure provincial directives are followed. Ontario has not done anything substantive.
• The most significant problem that is still not addressed is the collapse of long-term care staffing. Without staff, care and infection control cannot happen. Other provinces like British Columbia and Quebec acted months ago to stabilize staffing. Quebec, facing problems similar to Ontario, recruited and trained 10,000 PSWs over the summer and deployed them into the homes in time for the second wave. Ontario’s measures are paltry, piecemeal and unsubstantive.

In home after home, the Coalition reports staffing and care levels crumbling. “This wave is worse than the first, in terms of staffing, because we lost so many staff in the first wave and there is just so little resilience left. As staff get sick there is no one to replace them and home after home falls into chaos,” Ms. Mehra reported.

At the same time, the Coalition reports, there has been extraordinary leadership, particularly on the part of Ontario’s public hospitals, local public health units and EMA. They have held together a system that was facing major cuts and restructuring at the start of the pandemic, and have turned on a dime to build assessment centres, ramp up lab capacity, create field hospitals out of thin air, make the plans and resources that have protected us from a far worse situation. “Measureless self-sacrifice, compassion and care have been exhibited by hundreds of thousands of health care staff at every level,” the report concludes. She notes: On August 31 there was 1 resident and 22 staff infected. On December 15 there were 1,456 currently active (695 residents, 761 staff).
For more information: Natalie Mehra, executive director (416) 230-6402.

WILMINGTON, Del., Dec. 17, 2020 (GLOBE NEWSWIRE) — Rigrodsky & Long, P.A. announces that it is investigating Collective Growth Corporation (“Collective Growth”) (NASDAQ GS: CGRO) regarding possible breaches of fiduciary duties and other violations of law related to Collective Growth’s agreement to merge with Innoviz Technologies Ltd. (“Innoviz”).   Under the terms of the agreement, each share of Collective Growth’s Class A and Class B common stock will be converted into one share of Innoviz.

To learn more about this investigation and your rights, visit: https://www.rl-legal.com/cases-collective-growth-corporation.

You may also contact Seth D. Rigrodsky or Gina M. Serra cost and obligation free at (888) 969-4242 or [email protected].

Rigrodsky & Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide.

Attorney advertising.  Prior results do not guarantee a similar outcome.

CONTACT:         

Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242 (Toll Free)
(302) 295-5310
Fax: (302) 654-7530
[email protected]
https://rl-legal.com

ACTON, Mass., Dec. 17, 2020 (GLOBE NEWSWIRE) — Psychemedics Corporation (NASDAQ: PMD) announced that Sarah Ashby has rejoined the company as Vice President, General Counsel.

In this important role, Sarah will be responsible for directing and managing all of the company’s legal activities. She will report directly to the company’s CEO.

Sarah rejoins Psychemedics from Decibel Therapeutics, Inc., a biotech start-up researching hearing loss therapeutics, and Takeda Pharmaceutical Company, Ltd.  In the past four years, she has worked closely with the R&D teams at those organizations in the areas of toxicology studies, clinical trials, research collaborations and contract negotiations. Previously, Sarah practiced at the Boston firms of Campbell Campbell Edwards & Conroy PC, and Wilmer Cutler Pickering Hale & Dorr LLP. Her litigation background includes pharmaceutical and medical device liability, as well as health care fraud investigations, FDA regulation and intellectual property.

Raymond C. Kubacki, Chairman and CEO of Psychemedics, stated “We are extremely pleased to have Sarah rejoining our team and heading up this important area in our company. Besides providing our clients with the most rigorous drug test available and outstanding client service, we also directly support our clients on any legal challenge. We not only provide a litigation packet and expert testimony, but also legal assistance for our client’s legal team to come up to speed quickly. That’s why this is such an important role in our company beyond the normal role of Vice President, General Counsel.”

Psychemedics Corporation is the world’s largest provider of hair testing for the detection of drugs of abuse. The Company’s patented process is used by thousands of U.S. and international clients, including over 10% of the Fortune 500 companies, for pre-employment and random drug testing. Major police departments, Federal Reserve Banks, schools, and other public entities also rely on our unique patented drug testing process. We strongly believe our drug testing method to be superior to any other product currently in use, including traditional urine testing and other hair testing methods. The Psychemedics web site is www.psychemedics.com.

Cautionary Statement for purposes of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995: From time to time, information provided by Psychemedics may contain forward-looking information that involves risks and uncertainties. In particular, statements contained in this release that are not historical facts (including but not limited to statements concerning earnings, earnings per share, revenues, cash flows, receivables collection dates, dividends, future business, growth opportunities, profitability, pricing, new accounts, customer base, market share, test volume, sales and marketing strategies, market demand for drug testing services in Brazil, U.S. and foreign drug testing laws and regulations, including, without limitation, Brazilian professional driver drug testing requirements, required investments in plant, equipment and people and new test development, the effect of COVID-19 on our business, including its effects on our business, and profitability, and on the well-being and availability of our employees, the continued operation of our testing facilities and loan forgiveness under the PPP program) may be “forward looking” statements. Actual results may differ from those stated in any forward-looking statements. Factors that may cause such differences include but are not limited to risks associated with the severity of the COVID-19 pandemic, and its impact on the Company’s markets, including its impact on the Company’s customers, suppliers and employees, as well as its risk on the United States and worldwide economies, the timing, scope and effectiveness of further governmental, regulatory, fiscal monetary and public health responses to the COVID-19 pandemic, Internal Revenue Service refund processing timeframes, compliance by the Company with repayment forgiveness requirements under the PPP, changes in U.S. and foreign government regulations, including but not limited to FDA regulations, changes in Brazilian laws and regulations and proposed laws and regulations and the implementation of such laws and regulations, currency risks, R&D spending, competition (including, without limitation, competition from other companies pursuing the same growth opportunities), the Company’s ability to maintain its reputation and brand image, the ability of the Company to achieve its business plans, cost controls, leveraging of its global operating platform, risks of information technology system failures and data security breaches, the uncertain global economy, the Company’s ability to attract, develop and retain executives and other qualified employees and independent contractors, including distributors, the Company’s ability to obtain and protect intellectual property rights, litigation risks, general economic conditions and other factors disclosed in the Company’s filings with the Securities and Exchange Commission. With respect to the continued payment of cash dividends, factors include, but are not limited to, all of the factors listed above with respect to the impact of the COVID-19 pandemic on the business generally, plus cash flows, available surplus, capital expenditure reserves required, debt service obligations, regulatory requirements, requirements under our bank loan agreements and other factors that the Board of Directors of the Company may take into account. The forward-looking statements contained herein speak only of the Company’s expectations as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions, or circumstances on which any such statement is based.

Contact:
Raymond C. Kubacki, Chairman, President and CEO
Phone: (978) 206-8220