Market Newsdesk

OCEANSIDE, Calif., Dec. 1, 2020 /PRNewswire/ — Therapeutics Solution International, Inc., (OTC Markets: TSOI), announced today new data from its clinical trial demonstrating an almost doubling of immune cell activity in healthy volunteers which were ingesting QuadraMune™ daily for a week. 

Investigators analyzed blood for production of an immunological protein called “interleukin-2” after stimulation with anti-CD3 and anti-CD28.  The substantial increase in interleukin-2 is believed to predict that immunological cells such as T cells and NK cells, which are needed to fight viruses such as SARS-CoV-2, possess enhanced function after QuadraMune™ administration. 

Currently the Company is running a clinical trial on QuadraMune™ for preventing COVD-19 in health care workers¹. The clinical trial is listed on the National Institutes of Health Clinical Trial Database www.clinicaltrials.gov.

“Last week we reported stunning clinical data that QuadraMune™ enhances natural killer cell activity in healthy volunteers as well as in diabetics taking metformin2.  Natural killer cells are the front line immune system cell fighting coronaviruses and are dysfunctional in people with COVID-19³. It is conceivable that by stimulating T cell and NK cell activity, QuadraMune™ may be beneficial in protecting from infection” said Famela Ramos, Vice President of Business Development. “We will not know efficacy until the clinical trial is complete.”

QuadraMune™, is composed of 4 main ingredients: a) Pterostilbene, an inhibitor of SARS-CoV-2 infection⁴; b) Epigallocatechin gallate, a potent antioxidant and immune booster⁵; c) Sulforaphane, a lung protector⁶, and d) Thymoquinone, which inhibits organ failure and viral infections, as well as acting as a precursor to hydroxychloroquine⁷.

The Company previous showed that QuadraMune affects a variety of immunological functions including reducing myeloid suppressor cells⁸, which inhibit immunity, downregulating interleukin-6⁹, which is associated with COVID-19 mortality¹⁰, and downregulated inflammation induced coagulopathy¹¹, which is a major cause of COVID-19 associated deaths.

“The data announced today, is one important step in the process of developing and understanding mechanisms of action of this nutraceutical-based approach towards immune modulation and hopefully towards viral inhibition” said Timothy Dixon, President and CEO of the Company. “I am thankful for our collaborators who continue pushing the limits of medicine and science in our quest to fight against this invisible enemy.”

About Therapeutic Solutions International, Inc.
Therapeutic Solutions International is focused on immune modulation for the treatment of several specific diseases. The Company’s corporate website is www.therapeuticsolutionsint.com, and our public forum is https://board.therapeuticsolutionsint.com/ and Campbell Neurosciences at https://www.campbellneurosciences.com

1 https://www.clinicaltrials.gov/ct2/show/NCT04421391
2 https://www.prnewswire.com/news-releases/quadramune-synergizes-with-metformin-to-stimulate-anti-viral-defenses-in-pilot-clinical-trial-301179747.html
3 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7503862/  
4 https://www.biorxiv.org/content/10.1101/2020.09.24.285940v1  
5 https://www.jacionline.org/article/S0091-6749(13)02780-2/fulltext  
6 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5879815/  
7 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7361316/  
8 https://www.biospace.com/article/releases/therapeutic-solutions-international-reports-quadramune-reduces-myeloid-suppressor-cells-in-4t1-mouse-model-of-breast-cancer/  
9 https://www.biospace.com/article/releases/therapeutic-solutions-international-announces-positive-preclinical-and-clinical-evaluation-of-nutritional-supplement-quadramune-designed-to-protect-against-covid-19/  
10 https://www.jacionline.org/article/S0091-6749(20)31027-7/fulltext  
11 https://therapeuticsolutionsint.com/herapeutic-solutions-international-reports-quadramune-inhibits-inflammation-induced-blood-clotting-possible-implication-for-ongoing-covid-19-prevention-clinical-trial/

[email protected]

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SOURCE Therapeutic Solutions International

WASHINGTON, Dec. 1, 2020 /PRNewswire/ — Developing 247 GW of local rooftop and community solar and 160 GW of local energy storage is the most cost-effective way for the United States to transition to a clean energy system by 2050, while saving consumers up to $473 billion on electricity. This is enough local solar to power over 25% of all U.S. homes. These are among the core findings of a new report — Why Local Solar for All Costs Less: A New Roadmap for the Lowest Cost Grid — issued by Vote Solar, the Coalition for Community Solar Access, and Sunrun.

Using a state-of-the art grid planning tool developed by Vibrant Clean Energy, the analysis goes beyond the limitations of traditional grid planning by leveraging big data and advanced analytics to produce a more complete and inclusive picture of the direct costs and benefits of resources on the grid.

The tool – called WIS:dom®-P and developed by Dr. Christopher Clack – analyzes trillions of data points including every potential energy resource and the direct costs and benefits associated with bringing the most cost effective resource mix to the electric grid. The model was recently updated to take into account, and enhance the delivery of, local solar and storage generation located closer to customers on the distribution side of the grid.

“With better models that evaluate resource selection based on their impact on total system costs we see that scaling local solar and storage – along with utility-scale renewables –  will save us hundreds of billions of dollars and achieve the lowest cost path to a clean electric grid,” said Jeff Cramer, executive director of Coalition for Community Solar Access. “The analysis shows that President-elect Biden’s clean energy plan – if done right and guided by the latest grid modeling tools – has the potential to save the country hundreds of billions of dollars if it includes scaling local solar and storage. These savings are in addition to the massive societal benefits that come with a grid that’s more local and distributed.”

The main takeaways from the advanced modeling show:

• Deploying at least 247 GW of local rooftop and community solar on the grid would be the most cost-effective way to transition to a clean energy system by 2050. It is also the most cost-effective way to reach 95% emission reductions from 1990 levels.
• A clean electric grid that leverages expanded local solar and storage is $88 billion less expensive than a grid that does nothing different than we’re doing today (no clean electricity mandates and not leveraging expanded local solar and storage). This proves that moving to clean electricity targets can save the country money versus the status quo.
• Under a national 95% clean electricity target, leveraging expanded local solar and storage can save the U.S. $473 billion by 2050 compared to a clean electricity grid that doesn’t expand local solar and storage. Expanding local solar and storage on the distribution system reduces the need for power plants that only run on peak power days. It also better manages and reduces demand on the distribution system by offering more local energy products that customers want, which can increase grid resilience and reduce overall costs on the distribution and transmission grid.
• More local solar unlocks the potential of utility-scale solar and wind. The lowest cost grid requires a lot more utility-scale solar. In fact, retiring fossil-fueled power plants that run infrequently and deploying local storage more efficiently will help integrate 798 GW of utility-scale solar and 802 GW of utility-scale wind by 2050.
• Scaling local solar and storage results in over 2 million local jobs by 2050. The cost analysis accounted for direct costs and benefits only, but local solar and storage brings additional societal benefits to communities such as jobs, increased economic development, increased resilience, and more equitable access to the benefits of renewables.

“This study indicates that the current practice of ignoring (or assuming) distributed-scale resources in utility plans will result in higher costs for customers, higher GHG emissions, and lower job prospects for the industry compared with coordinated planning,” said Dr. Christopher Clack, founder and CEO of Vibrant Clean Energy. “Furthermore, the modeling tools required to provide insight for all stakeholders should include computations that resolve the distribution resources at some granularity to perform analysis on the co-benefits.”

“This effort is a giant leap forward in demonstrating the critical role DERs must play in future system planning to provide efficient, effective and reliable solutions for an aging grid, with evolving customer needs,” said Anne Hoskins, former utility regulator and Chief Policy Officer for Sunrun. “By providing the tools to refresh outdated metrics and thinking in our system planning, we unlock a better energy future for all.”

“Our antiquated, centralized power system disproportionately harms low-wealth families and environmental justice communities. The new, least-cost grid envisioned by this innovative roadmap shows us how we can reinvent our energy infrastructure by redistributing power to local communities,” said Adam Browning, Executive Director, Vote Solar. “Our responsibility now is to ensure that is done equitably, that the voices previously excluded are included, and that the investments required for the new power structure benefit those most harmed by the old one.”

Local solar and storage – part of the group of innovative, affordable technologies sometimes referred to as Distributed Energy Resources (DERs) – are small, distributed facilities that produce and store power closer to the homes and communities where it is being used. The two most common forms of local solar are community solar and rooftop solar, both of which can be paired with battery storage. Community solar, the fastest-growing segment within the solar industry, refers to local solar facilities shared by multiple subscribers who receive credits on their electricity bills for their share of the power produced. Rooftop solar gives people the ability to generate their own power on their own property and store it in a battery for resilience even in the event of grid outages. Both rooftop and community solar help customers lower their monthly utility bills.

CCSA, Vote Solar, and Sunrun call on legislators and regulators to make sure local solar and storage is integrated and optimized into state energy planning using advanced modeling tools like WIS:dom-P and to establish clear and consistent policies and programs that scale local solar and storage right now. The technology is here today; time is of the essence to innovate our system planning so the benefits can be achieved as quickly as possible.

More information and access to the full report can be found here.  

About Vibrant Clean Energy
Vibrant Clean Energy is a nationally recognized energy grid modeling firm based in Colorado. VCE creates computer optimization software to study pathways for energy systems futures. It also performs studies using WIS:dom to provide expertise in new arenas of electrification, decarbonization and variable resources. The mission of VCE is to help facilitate universal, sustainable, and cheap energy for everyone. For more information, please visit https://www.vibrantcleanenergy.com.  

About Vote Solar
Vote Solar’s mission is to make solar a mainstream energy resource across the U.S. Since 2002, Vote Solar has been working to lower solar costs and expand solar access. A 501(c)3 non-profit organization, Vote Solar advocates for state policies and programs needed to repower our electric grid with clean energy. Vote Solar works to remove regulatory barriers and implement key policies needed to bring solar to scale. VoteSolar.org

About CCSA
The Coalition for Community Solar Access (CCSA) is a national Coalition of businesses and non-profits working to expand customer choice and access to solar to all American households and businesses through community solar. Community solar refers to local solar facilities shared by multiple community subscribers who receive credits on their electricity bills for their share of the power produced. Community solar provides homeowners, renters, and businesses equal access to the economic and environmental benefits of solar energy generation regardless of the physical attributes or ownership of their home or business. Community solar expands access to solar for all, including low-to-moderate income customers, all while building a stronger, distributed, and more resilient electric grid. For more information, visit our website at www.communitysolaraccess.org, follow us on Twitter at @solaraccess and on Facebook at www.facebook.com/communitysolaraccess.

About Sunrun
Sunrun Inc. (Nasdaq: RUN) is the nation’s leading home solar, battery storage, and energy services company. Founded in 2007, Sunrun pioneered home solar service plans to make local clean energy more accessible to everyone for little to no upfront cost. Sunrun’s innovative home battery solution, Brightbox, brings families affordable, resilient, and reliable energy. The company can also manage and share stored solar energy from the batteries to provide benefits to households, utilities, and the electric grid while reducing our reliance on polluting energy sources. For more information, please visit www.sunrun.com.

About Local Solar for All
Local Solar for All’s mission is to create a safer, more affordable, and equitable way to supply power to our communities. The campaign is focused on promoting the benefits of local clean energy production and encouraging federal and state governments to accelerate the development of a more decentralized, distributed energy system. The campaign is being run by solar energy and storage companies, clean energy industry groups, and non-profits including the Coalition for Community Solar Access, Vote Solar, Solar United Neighbors, Sunrun, SunPower, Engie, IGS, and Sunnova. For more information, visit www.localsolarforall.org.

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SOURCE Local Solar for All

DALLAS, Dec. 1, 2020 /PRNewswire/ — The Cushing^® MLP & Infrastructure Total Return Fund (NYSE: SRV) (the “Fund”) declared its monthly distribution of $0.12 per common share for each of December, 2020 and January, 2021. These monthly distributions will be payable to common shareholders pursuant to the table below:

¹The return of capital estimate is based on the Fund’s current anticipated earnings and profits for the fiscal year and does not include a projection of gains and losses on the sale of securities which may occur during the remainder of the year.  It is currently anticipated, but not certain, that approximately 0% of the Fund’s December 2020 distribution and 100% of the Fund’s January 2021 distribution will be treated as a return of capital. The final determination of such amounts will be made and reported to shareholders in early 2021 for the December 2020 distribution and in early 2022 for the January 2021 distribution, after the end of the calendar year when the Fund determines its earnings and profits for the year. The final tax status of each distribution may differ substantially from this preliminary information.

Each distribution shall be paid on the payment date unless the payment of such distribution is deferred by the Fund’s Board of Trustees upon a determination that such deferral is required in order to comply with applicable law or to ensure that the Fund remains solvent and able to pay its debts as they become due and continue as a going concern.

ADDITIONAL INFORMATION ABOUT THE FUND

The Fund is a non-diversified, closed-end management investment company with an investment objective of seeking a high after-tax total return from a combination of capital appreciation and current income. The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in a portfolio of energy infrastructure master limited partnerships (“MLPs”) and MLP-related investments.  The Fund will invest no more than 25% of its Managed Assets in securities of MLPs that qualify as publicly traded partnerships under the Internal Revenue Code. The Fund’s shares are traded on the New York Stock Exchange under the symbol “SRV.”

There can be no assurance that the Fund will achieve its investment objectives. Investments in the Fund involve operating expenses and fees. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value.

Future distributions will be made by the Fund if and when declared by the Fund’s Board of Trustees, based on a consideration of number of factors, including the Fund’s continued compliance with terms and financial covenants of its senior securities, the Fund’s net investment income, financial performance and available cash.  There can be no assurance that the amount or timing of distributions in the future will be equal or similar to that described herein or that the Board of Trustees will not decide to suspend or discontinue the payment of distributions in the future.

ABOUT CUSHING^® ASSET MANAGEMENT, LP

Cushing, a subsidiary of Swank Capital, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts providing active management in markets where inefficiencies exist.

Contact:

Blake Nelson

Cushing
^® Asset Management, LP
214-692-6334
www.cushingasset.com

IMPORTANT INFORMATION

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are “forward-looking statements.” Although the Funds and Cushing believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the Funds and Cushing do not assume a duty to update this forward-looking statement.

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SOURCE Cushing Asset Management, LP

WILTON, Conn., Dec. 1, 2020 /PRNewswire/ — Cannondale, a premium brand of Dorel Industries, Inc. (TSX: DII.B, DII.A), today announced a sweepstakes to give away Rigoberto Uran’s Cannondale SystemSix from this year’s 2020 Tour de France.

In celebration of the historic 2020 Tour de France, Cannondale is offering a chance to win Rigoberto Uran’s team-issue SystemSix race bike straight from the Champs-Elyees. Built to Rigo’s exact measurements, and with his race number signed and still affixed to the bike, this SystemSix is truly one-of-a-kind from one of the most popular riders in the WorldTour. The 51cm frame features a Shimano Dura Ace Di2 drivetrain, Vision Metron 55 race wheels, and a Hollowgram crankset with the Power2max power meter included.

The Tour de France is where the world’s finest cyclists battle for dominance up mountains, through valleys and on open roads all while racing and winding their way through the picturesque villages and cities of France. This year through sheer perseverance, the biggest sporting event in cycling was another for the history books.  

The sweepstakes kicks off on December 1, 2020 and will run through December 31, 2020. There is no purchase necessary, and it is limited to the United States, Canada (excluding Quebec), Austria, France, Germany, Netherlands, the United Kingdom, and Switzerland. For complete details and to enter, visit www.cannondale.com.  

NO PURCHASE OR PAYMENT OF ANY KIND IS NECESSARY TO ENTER OR WIN. A PURCHASE OR PAYMENT WILL NOT INCREASE YOUR CHANCES OF WINNING. Begins at 12:00:00 a.m. CST on 12/1/20 and ends at 11:59:59 p.m. CST on 12/31/20. The Sweepstakes is open only to legal residents of the 50 United States, D.C., Canada (excluding Quebec), U.K., Austria, France, Germany, Switzerland, and the Netherlands, who are at least 18 and the age of majority in their jurisdiction of primary residence as of the time of entry. One (1) Prize available: Rigoberto Uran’s 2020 Cannondale SystemSix bicycle that he raced on in Stage 21 of the 2020 Tour de France. Approximate Retail Value: USD 10,000/CAD 13,198 /GBP 7,734/EUR 8,503. Odds of winning depend on the number of eligible entries received. Void in Quebec and where prohibited. For Official Rules and complete entry/prize details, go to the site for the eligible country in which you reside: U.S.: https://cannondale-tour-de-france-bike-giveaway.lndg.page/VDTgG8; Canada: https://cannondale-tour-de-france-bike-giveaway.lndg.page/twtFMR; UK: https://cannondale-tour-de-france-bike-giveaway.lndg.page/cZLtP3; Austria: https://cannondale-tour-de-france-bike-giveaway.lndg.page/LGhbw; France: https://cannondale-tour-de-france-bike-giveaway.lndg.page/tL0LWx; Germany: https://cannondale-tour-de-france-bike-giveaway.lndg.page/sVHc97; Netherlands: https://cannondale-tour-de-france-bike-giveaway.lndg.page/BZrN4V; Switzerland: https://cannondale-tour-de-france-bike-giveaway.lndg.page/QCH14d

ABOUT CANNONDALE: 
Cannondale is a premium brand of Cycling Sports Group, a division of Dorel Industries’ (TSX: DII.B, DII.A) Dorel Sports segment. Dorel Industries Inc. has annual sales of US$2.6 billion and employs approximately 8,000 people in facilities located in twenty-five countries worldwide. With a reputation for continuous innovation and quality, Cannondale is a global industry leader with a strong heritage in design, development and manufacturing of high-performance bicycles, apparel and accessories. For more information, visit www.cannondale.com. 

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SOURCE Cannondale

WEST LAFAYETTE, Ind. and CHICAGO, Dec. 1, 2020 /PRNewswire/ — The Purdue University/CME Group Ag Economy Barometer dropped 16 points to a reading of 167 in November, down from its all-time high set just one month ago. The decrease in sentiment was led by farmers’ more pessimistic view towards the future of the agricultural economy with the Index of Future Expectations falling 30 points to a reading of 156 in November. The on-going rally in commodity prices and CFAP-2 payments continued to support producers’ view of current economic conditions as the Index ofCurrent Conditions rose 9 points in November to 187, an all-time high for the index.

The Ag Economy Barometer is calculated each month from 400 U.S. agricultural producers’ responses to a telephone survey. This month’s survey was conducted after the election from November 9-13, 2020.

“Producers were more pessimistic about future economic conditions on their farms in November than they were just a month earlier,” said James Mintert, the barometer’s principal investigator and director of Purdue University’s Center for Commercial Agriculture. “This is the opposite of what happened following the November 2016 election. That year producers became much more optimistic about the future following the election and, in turn, that optimism about the future helped drive the Ag Economy Barometer up sharply in late 2016 and early 2017.”

To learn more about what factors might be motivating the shift in producers’ sentiment pre- and post-November election, a series of questions focused on producers’ future expectations for environmental regulations, taxes and other key aspects of the agricultural economy, were included on both the October and November surveys. Comparing results from October to November, far more producers in November said they expect to see: 1) environmental regulations impacting agriculture to tighten over the next five years; 2) higher income tax rates for farms and ranches; 3) higher estate tax rates for farms and ranches; 4) less government support for the U.S. ethanol industry and 5) a weaker farm income safety net provided by U.S. government program policies. For a complete breakdown of the results, view the full November Ag Economy Barometer report.

Since the summer of 2019, Purdue researchers have been tracing producers’ perceptions regarding the ongoing trade dispute between the U.S. and China­–specifically, whether they think the dispute will be resolved soon and the outcome will ultimately benefit U.S. agriculture. In January and February of this year, 80 percent of survey respondents said they expected to see the trade dispute with China be resolved in a way that benefits U.S. agriculture. However, on the November survey, the percentage of farmers expecting a favorable outcome for U.S. agriculture declined to 50 percent, the lowest percentage recorded since the question was first included on a barometer survey. In a related question, only 44 percent of respondents to the November survey said they think it’s likely that China will fulfill the Phase One Trade Agreement requirements, down from 59 percent a month earlier.

Read the full Ag Economy Barometer report at https://purdue.ag/agbarometer. This month’s report also asked farmers about their intentions on making large investments in their farming operations as well as their expectations for farmland values in the next 12-months and five-years. The site also offers additional resources – such as past reports, charts and survey methodology – and a form to sign up for monthly barometer email updates and webinars.

Each month, the Purdue Center for Commercial Agriculture provides a short video analysis of the barometer results, available at https://purdue.ag/barometervideo, and for even more information, check out the Purdue Commercial AgCast podcast. It includes a detailed breakdown of each month’s barometer, in addition to a discussion of recent agricultural news that impacts farmers. Available now at https://purdue.ag/agcast.

The Ag Economy Barometer, Index of Current Conditions and Index of Future Expectations are available on the Bloomberg Terminal under the following ticker symbols: AGECBARO, AGECCURC and AGECFTEX.

About the Purdue University Center for Commercial Agriculture

The Center for Commercial Agriculture was founded in 2011 to provide professional development and educational programs for farmers. Housed within Purdue University’s Department of Agricultural Economics, the center’s faculty and staff develop and execute research and educational programs that address the different needs of managing in today’s business environment.

About CME Group
As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world’s leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., respectively. Dow Jones, Dow Jones Industrial Average, S&P 500, and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor’s Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners. 

Writer: Kami Goodwin, 765-494-6999, [email protected]  
Source: James Mintert, 765-494-7004, [email protected]

Related websites:
Purdue University Center for Commercial Agriculture: http://purdue.edu/commercialag 
CME Group: http://www.cmegroup.com/

Photo Caption 1: Farmer sentiment pulls back post-election: regulation, trade, and taxes rated as top concerns. (Purdue/CME Group Ag Economy Barometer/James Mintert) https://www.purdue.edu/uns/images/2020/AgEconomyBarometer_Nov2020_1LO.jpg

Photo Caption 2: Farmer expectations regarding changes in policies affecting U.S. Agriculture in the next 5 years, October vs. November 2020. (Purdue/CME Group Ag Economy Barometer/James Mintert)  https://www.purdue.edu/uns/images/2020/AgEconomyBarometer_Nov2020_2LO.jpg

CME-G

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SOURCE CME Group

TUCSON, Ariz., Dec. 1, 2020 /PRNewswire/ — CBOA Financial, Inc. (OTCMKTS:CBOF) (the “Company”), parent company of Commerce Bank of Arizona (the “Bank” or “CBAZ”), today announced that its Board of Directors (the “Board”) approved a stock repurchase program under which the Company may repurchase up to $250,000 in value of its outstanding shares through open market purchases, privately-negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These shares will be purchased from time to time over a six-month period depending upon market conditions.

The Board also authorized management to enter into a trading plan with JWTT Inc. in accordance with Rule 10b5-1 of the Exchange Act, to facilitate repurchases of its common stock pursuant to the above mentioned stock repurchase program (the “Rule 10b5-1 plan”). The Rule 10b5-1 plan gives the Company more flexibility to repurchase shares, so long as the terms of the plan are followed. Under the Rule 10b5-1 plan, JWTT Inc. will have the authority, subject to the prices, terms and limitations set forth in the Rule 10b5-1 plan, including compliance with Rule 10b-18 of the Exchange Act, to repurchase shares on the Company’s behalf.

Chris Webster, President and CEO of the Company, indicated that the Board of Directors approved the repurchase program in view of the current price level of the Company’s common stock and the strong capital position of the Company’s subsidiary, Commerce Bank of Arizona. Mr. Webster stated: “We believe that the repurchase of our shares represents an attractive investment opportunity that will benefit the Company and our stockholders.”

The actual timing, number and value of shares repurchased under the stock repurchase program will depend on a number of factors, including constraints specified in the Rule 10b5-1 plan, price, general business and market conditions, and alternative investment opportunities. The share repurchase program does not obligate the Company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time.

About the Company
Commerce Bank of Arizona, established in 2002 in Tucson, Arizona, is a full-service community bank that caters to small-to mid-sized businesses and real estate professionals. CBAZ offers commercial clients with a variety of services ranging from U.S. Small Business Administration (SBA) financing solutions, construction loans, and commercial real estate loans. CBOA Financial, Inc is a single-bank holding company and parent of the Bank. The Company is traded over-the-counter as CBOF. For additional information, visit: www.commercebankaz.com.

Forward-looking Statements
This press release may include forward-looking statements about CBOA Financial, Inc. or Commerce Bank of Arizona. These statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors: competition, fluctuations in interest rates, dependency on key individuals, loan defaults, geographical concentration, litigation and changes in federal laws, regulations and interpretations thereof. All forward-looking statements included in this press release are based on information available at the time of the release, and CBOA Financial, Inc. and Commerce Bank of Arizona assume no obligation to update any forward-looking statement.

Contact:
Chris Webster
President & CEO
480-253-4511
[email protected] 

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SOURCE Commerce Bank of Arizona