Market Newsdesk

Press Release

Nokia and Togocom deploy first 5G network in West Africa

• Nokia supplies 5G equipment and services introducing cutting-edge connectivity to Togo

30 November 2020    

Espoo, Finland – Nokia today announced that it has been selected by African mobile operator, Togocom in a three-year deal to deploy 5G across the country. In the capital city Lomé, the 5G network has just been launched — the first time a 5G network has been deployed in West Africa. The deal, which also sees legacy 2G, 3G and 4G networks enhanced, will strengthen Togocom’s market-leading position in Togo and future-proof its infrastructure for the next-generation of digital services for Togolese citizens.

The deal sees Nokia provide equipment from its comprehensive AirScale portfolio, including AirScale Base Stations, AirScale massive MIMO Adaptive Antenna solutions that enables Togocom to deliver market-leading 5G experiences to subscribers with ultra-low latency, connectivity and capacity. This supports the increasing demand for data services from Togocom’s subscribers. Nokia also supplies its AirScale Micro Remote Radio Head (RRH) solution to meet the demand for capacity and reliable coverage both indoors and outdoors. Togocom also deploys the Nokia AirFrame data center solution to support cloud-based applications necessary for future telco networking.

Nokia also deploys 5G monetization, data management and Digital Operations software solutions across its open, scalable CloudBand Infrastructure Software, enabling Togocom to capture new 5G revenue opportunities, enhance business velocity and agility, and streamline the operator’s network operations. Solutions include Nokia Converged Charging (formerly Smart Plan Suite) together with partner solution for end-to-end BSS, Policy Controller, Session Management, Subscriber Data Management, Signaling, Nokia Mediation (formerly Data Refinery), NetAct network management system and Archive Cloud to automate the backup and storage of network data.

Nokia also provides digital deployment, network design, optimization and technical support services enabling Togocom to benefit from a faster network launch and ensure subscriber requirements for quality and reliability are met.

Nokia is a long-term partner of Togocom and has previously supplied equipment for their 3G and 4G networks. Togocom is the Togolese market leader in telecommunications serving the entire country.

Nokia’s solution enables Togocom to better manage the increasing number of subscribers and devices, as well as deliver high-performance networking which is the demand for LTE/5G and the Internet of Things (IoT). The solution also includes Nokia’s industry-leading data center gateway that supports Software Defined Networking and is designed to address the demanding requirements of data centers and cloud services.

Through the solution, Togocom can provide a seamless customer experience with a highly scalable network and significantly expand capacity across its edge/core routing network as it prepares for next-generation broadband and 5G services.

Togocom uses the increased capacity of its new 5G network to connect fixed subscribers using the Nokia FastMile 5G gateway. The solution is easy for subscribers to install, delivering ultra-fast broadband speeds to homes while using Wi-Fi to connect devices within the home.

Paulin Alazard, CEO at Togocom, said: “Nokia’s technology helps us to modernize our existing nationwide network and enable us to offer subscribers with access to cutting-edge 5G services. We are proud to be the first country in West Africa to offer 5G’s incredible connectivity, which is be a game changer in supporting Togolese citizens with a range of new services and opportunities.”

Pierre Chaume, Vice President of North and West Africa at Nokia, said: “We are delighted to continue our long-standing and successful partnership with Togocom by supporting them in becoming the first mobile operator in West Africa to deliver commercial 5G services to their subscribers. Togocom has ambitious plans for 5G and we are proud of our collaboration with the operator to bring incredible connectivity to its customers as we enter the 5G era.”

Resources:

Webpage: Nokia 5G core
Webpage: Nokia AirScale
Webpage: Nokia CloudBand
Webpage: Nokia Monetization
Webpage: Nokia Subscriber Data Management
Webpage: Nokia IP Multimedia Subsystem IMS
Webpage: Nokia Cloud Signaling Director
Webpage: Nokia NetAct
Webpage: Nokia Cloud Mobility Manager
Webpage: 210 WBX
Webpage: Nokia Network Planning and Optimization

About Togocom:

TOGOCOM is the Togolese telecom market´s leader, currently serving the Togolese people wherever they reside in the country. The group is was born from consolidating the activities of Togo Télécom, Togo´s historical fixed-phone operator, and Togocel, the country´s mobile-network operator. TOGOCOM aims to become an exemplar of service quality that meets the highest international standards, most notably in terms of network coverage and speed, customer satisfaction and the availability of products and services.

About Nokia

We create the technology to connect the world. Only Nokia offers a comprehensive portfolio of network equipment, software, services and licensing opportunities across the globe. With our commitment to innovation, driven by the award-winning Nokia Bell Labs, we are a leader in the development and deployment of 5G networks.

Our communications service provider customers support more than 6.4 billion subscriptions with our radio networks, and our enterprise customers have deployed over 1,300 industrial networks worldwide. Adhering to the highest ethical standards, we transform how people live, work and communicate. For our latest updates, please visit us online www.nokia.com and follow us on Twitter @nokia.

Media Inquiries:

Nokia
Communications
Phone: +358 10 448 4900
Email: [email protected]

TORONTO, Nov. 30, 2020 (GLOBE NEWSWIRE) — Continued growth in the housing market and new auto loans led the way in driving total consumer debt up by 3.8 per cent to $2.041 trillion in the third quarter, according to Equifax Canada’s most recent report on consumer credit conditions. Overall average consumer debt rose to $74,897, up 3.3 percent compared to the third quarter of 2019.

Mortgage balances increased by 6.6 per cent in contrast to Q3 of 2019 and the average new mortgage loan amount surpassed $300,000 for the first time, an increase of 8.6 per cent. Despite the pandemic, new auto loans were also up 11.7 per cent compared to the same period last year. Average credit card spending returned close to pre-COVID levels during the quarter, but an increase in average payment amount led to overall credit card debt remaining similar to Q2 levels.

“Homebuyers are largely the reason why we’ve crossed over the $2 trillion threshold,” said Rebecca Oakes, AVP of Advanced Analytics at Equifax Canada. “Car sales have also rebounded in the last few months. With manufacturer and auction house shutdowns there has been a temporary shortage of vehicle availability in some areas. This in turn has led to an increase in car prices as demand exceeds supply. Speculation in the sector suggests the pandemic may also be impacting car demand in the short term as consumers switch away from public transportation. Average auto loan amounts have increased to their highest level in four years.”

Deferrals and delinquencies
during the pandemic

Over 3 million consumers opted for payment deferrals at some point since the pandemic started. Improvements in the job market combined with some consumers reaching the end of agreed lender deferral periods has led to less than half still having an active deferral at the end of September. Deferral accommodations have not stopped consumers from seeking new credit; approximately 12 per cent of new credit products in Q3 2020 were opened by consumers who had some form of deferral on their credit file.

The 90+ day delinquency rate (the percentage of balances where credit users have missed 3+ payments) for non-mortgage debt dropped to 0.98 per cent – the lowest level since 2014 (down 15 per cent compared to Q3 2019).

“The low delinquency rates we’re currently seeing are likely being masked by deferral programs,” said Oakes. “There are some warning signs in early-stage delinquency on credit cards where consumers have missed one or two payments that we’re closely monitoring. Typically, consumers prioritize their debt repayments in a certain order and credit cards are often the first to see missed payments when there are difficulties. The largest increase in this area is coming from people who have exited payment deferral programs in July, so potentially these could be individuals feeling greater financial stress because of COVID.”

Debt (excluding mortgages) & Delinquency Rates

Major City Analysis – Debt (excluding mortgages) & Delinquency Rates

Province Analysis – Debt (excluding mortgages) & Delinquency Rates & Bankruptcy Amount

* Based on Equifax data for Q3 2020

About Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employees, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 11,000 employees worldwide, Equifax operates or has investments in 25 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca and follow the company’s news on LinkedIn.

Contact:
Andrew Findlater
SELECT Public Relations
[email protected]
(647) 444-1197

Tom Carroll
Equifax Canada Media Relations
[email protected]

HANGZHOU, China, Nov. 30, 2020 (GLOBE NEWSWIRE) — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended September 30, 2020.

Third Quarter 2020 Operating and Financial Highlights

Total computing power sold in the third quarter of 2020 was 2.9 million Thash/s, representing a year-over-year decrease of 20.7% from 3.7 million Thash/s in the same period of 2019 and a quarter-over-quarter increase of 13.4% from 2.6 million Thash/s in the second quarter of 2020.
Total net revenues in the third quarter of 2020 was RMB163.0 million (US$24.0 million), representing a year-over-year decrease of 75.7% from RMB670.6 million in the same period of 2019 and a quarter-over-quarter decrease of 8.5% from RMB178.1 million in the second quarter of 2020.
Gross loss in the third quarter of 2020 was RMB17.0 million (US$2.5 million) compared to gross profit of RMB146.2 million in the same period of 2019 and gross profit of RMB43.3 million in the second quarter of 2020.
Net loss in the third quarter of 2020 was RMB86.4 million (US$12.7 million) compared to net income of RMB94.6 million in the same period of 2019 and net loss of RMB16.8 million in the second quarter of 2020.
Non-GAAP adjusted net loss in the third quarter of 2020 was RMB84.8 million (US$12.5 million) compared to Non-GAAP adjusted net income of RMB96.2 million in the same period of 2019 and Non-GAAP adjusted net loss of RMB16.0 million in the second quarter of 2020.

Mr. Nangeng Zhang, Chairman and Chief Executive Officer of Canaan, commented, “During the third quarter of 2020, we remained undeterred by the pandemic to strengthen our research and development capabilities, expand our AI business, and execute new business initiatives. By leveraging our enhanced R&D capabilities in the third quarter, we launched our A1246 product series, which continues to lead the industry with its energy efficiency, computing power, and unit cost. In addition, we have also accelerated the monetization of our AI business through our partnerships with a number of companies in various industries, such as online education and smart city solutions. In the third quarter of 2020, for example, we implemented our K210 AI chips in hardware sensors from our partner to better ensure the proper execution of social distancing practices in response to the outbreak of COVID-19. With new generations of mining machines and AI chips in the pipeline, we are confident that the enhanced performance of our new products will continue to bolster our competitive advantages and solidify our market leadership going forward.”

Mr. Quanfu Hong, Chief Financial Officer of Canaan, stated, “The pandemic and resulting macroeconomic uncertainties continued to impact the production capacity of the global IC industry in the third quarter of 2020. However, the demand for mining machines in the market continued to rebound during the third quarter, and we have received a large number of pre-sale orders which are scheduled for delivery starting in the fourth quarter of 2020. Looking ahead, we remain committed to investing in areas that will further strengthen our collaboration with established IC manufacturers, enhance our inventory management, streamline our research and development initiatives, and generate lasting value for our shareholders.”

Third Quarter 2020 Financial Results

Total net revenues in the third quarter of 2020 was RMB163.0 million (US$24.0 million), representing a 75.7% year-over-year decrease from RMB670.6 million in the same period of 2019 and a 8.5% quarter-over-quarter decrease from RMB178.1 million in the second quarter of 2020. The year-over-year decrease was mainly due to the decreases in total computing power sold and average selling price per Thash/s. The quarter-over-quarter decrease was mainly due to the decrease in average selling price per Thash/s.

Cost of revenues in the third quarter of 2020 was RMB180.0 million (US$26.5 million) compared to RMB524.4 million in the same period of 2019 and RMB134.8 million in the second quarter of 2020. The year-over-year decrease was in line with the changes in the Company’s sales volume of Thash and cost per Thash. The quarter-over-quarter increase was mainly due to an inventory write-down of RMB44.9 million (US$6.6 million) and the increase in sales volume.

Gross loss in the third quarter of 2020 was RMB17.0 million (US$2.5 million) compared to gross profit of RMB146.2 million in the same period of 2019 and gross profit of RMB43.3 million in the second quarter of 2020.

Total operating expenses in the third quarter of 2020 was RMB75.9 million (US$11.2 million), representing a year-over-year increase of 4.4% from RMB72.7 million in the same period of 2019 and a quarter-over-quarter increase of 22.0% from RMB62.2 million in the second quarter of 2020.

Research and development expenses in the third quarter of 2020 were RMB32.1 million (US$4.7 million), representing a year-over-year decrease of 15.8% from RMB38.1 million in the same period of 2019 and a quarter-over-quarter increase of 23.2% from RMB26.1 million in the second quarter of 2020. The year-over-year decrease and quarter-over-quarter increase were mainly due to the changes in materials that the Company used for research and development purposes. As a percentage of total net revenues, research and development expenses in the third quarter of 2020 increased to 19.7% from 5.7% in the same period of 2019 and from 14.6% in the second quarter of 2020.

Selling and marketing expenses in the third quarter of 2020 were RMB3.2 million (US$0.5 million), representing a year-over-year decrease of 49.4% from RMB6.3 million in the same period of 2019 and a quarter-over-quarter decrease of 51.2% from RMB6.5 million in the second quarter of 2020. The decreases were mainly due to the decreased salaries of the staff in the Company’s sales and marketing departments. As a percentage of total net revenues, sales and marketing expenses in the third quarter of 2020 was 2.0% compared to 0.9% in the same period of 2019 and 3.7% in the second quarter of 2020.

General and administrative expenses in the third quarter of 2020 were RMB40.6 million (US$6.0 million) compared to RMB28.2 million in the same period of 2019 and RMB29.6 million in the second quarter of 2020. The increases were mainly due to the increases in salary, professional service charges, and other daily administrative expenses. As a percentage of total net revenues, general and administrative expenses in the third quarter of 2020 was 24.9% compared to 4.2% in the same period of 2019 and 16.6% in the second quarter of 2020.

Loss from operations in the third quarter of 2020 was RMB92.9 million (US$13.7 million) compared to income from operations of RMB73.5 million in the same period of 2019 and loss from operations of RMB18.9 million in the second quarter of 2020.

Net loss attributable to ordinary shareholders in the third quarter of 2020 was RMB86.4 million (US$12.7 million) compared to net income attributable to ordinary shareholders of RMB94.6 million in the same period of 2019 and net loss attributable to ordinary shareholders of RMB16.8 million in the second quarter of 2020.

Non-GAAP adjusted net loss in the third quarter of 2020 was RMB84.8 million (US$12.5 million) compared to non-GAAP adjusted net income of RMB96.2 million in the same period of 2019 and non-GAAP adjusted net loss of RMB16.0 million in the second quarter of 2020. Non-GAAP adjusted net loss excludes share-based compensation expense. For further information, please refer to “Use of Non-GAAP Financial Measures” in this release.

Basic and diluted net loss per ADS in the third quarter of 2020 were both RMB0.55 (US$0.08). In comparison, basic and diluted net earnings per ADS in the same period of 2019 were both RMB0.65. Basic and diluted net loss per ADS in the second quarter of 2020 were both RMB0.11. Each ADS represents 15 of the Company’s Class A ordinary shares.

As of September 30, 2020, the Company had cash and cash equivalents of RMB177.4 million (US$26.1 million) compared to RMB516.6 million as of December 31, 2019. The decrease was mainly due to higher short-term investments as the Company had invested RMB204.6 million (US$30.1 million) in short-term investments as of September 30, 2020, compared with RMB11.0 million in short-term investments as of December 31, 2019. The company purchased short-term financial products to receive higher returns but at the same time can withdraw at any time.

Business Outlook

Due to the continued uncertainty from the rapidly changing global environment related to the COVID-19 pandemic and the corresponding economic downturn, the Company will not issue any financial guidance in the near term.

Conference Call Information

The Company’s management team will hold a Direct Event conference call on Monday, November 30, 2020, at 7:00 A.M. Eastern Time (or 8:00 P.M. Beijing Time on the same day) to discuss the financial results. Details for the conference call are as follows:

All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique access PIN, which can be used to join the conference call.

A replay of the conference call will be accessible through December 8, 2020, by dialing the following numbers:

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at investor.canaan-creative.com.

About Canaan Inc.

Established in 2013, Canaan Inc. provides high-performance computing solutions to efficiently solve complex problems. In 2016, Canaan successfully initiated the production of its first 16nm chip and passed the test to receive China’s national high-tech enterprise certification. In 2018, Canaan achieved major technological breakthroughs to launch the K210, the world’s first-ever RISC-V-based edge artificial intelligence (AI) chip, which is now widely used for access control in situations such as smart door locks and more. Canaan Inc. is currently focused on the research and development of advanced technology, including such areas as AI chips, AI algorithms, AI architectures, system on a chip (SoC) integration and chip integration. Using the AI chip as its base, Canaan Inc. has established an intellectual value chain. Canaan Inc. also provides a suite of AI service solutions and is able to tailor these solutions to the needs of its partners. For more information, please visit: investor.canaan-creative.com.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.7896 to US$1.00, the noon buying rate in effect on September 30, 2020, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.’s strategic and operational plans, contain forward−looking statements. Canaan Inc. may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the Bitcoin industry and the price of Bitcoin; the Company’s expectations regarding demand for and market acceptance of its products, especially its Bitcoin mining machines; the Company’s expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company’s investment plans and strategies, fluctuations in the Company’s quarterly operating results; competition in its industry in China; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company’s filings with the SEC, including its registration statement on Form F−1, as amended, and its annual reports on Form 20−F. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward−looking statement, except as required under applicable law.

Use of Non­GAAP Financial Measures

In evaluating Canaan’s business, the Company considers and uses adjusted net income as a supplemental measure to review and assess its operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net loss as net loss, excluding share­based compensation expense.

Canaan believes that adjusted net income helps to identify underlying trends in the Company’s business that could otherwise be distorted by the effect of the expenses that the Company excludes in adjusted net income. The Company believes that adjusted net income provides useful information about our operating results, enhances the overall understanding of Canaan’s past performance and future prospects and allows for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.

The non-GAAP financial measure “adjusted net loss” is not defined under U.S. GAAP, is not presented in accordance with U.S. GAAP and has limitations as an analytical tool. One of the key limitations of using adjusted net loss is that it does not reflect all of the items of income and expense that affect the Company’s operations. Share-based compensation has been and may continue to be incurred in Canaan’s business and is not reflected in the presentation of adjusted net loss. Further, the non-GAAP financial measure “adjusted net loss” may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

Investor Relations Contact

Canaan Inc.
Mr. Shaoke Li
Email: [email protected]

ICR Inc.
Jack Wang
Tel: +1 (347) 396-3281
Email: [email protected]

The table below sets forth a reconciliation of net loss to non-GAAP adjusted net loss for the period indicated:

DURHAM, N.C., Nov. 30, 2020 (GLOBE NEWSWIRE) — TeraRecon, the leading provider of AI-driven advanced visualization solutions, today announced the debut of their Clinical Training Cloud for affordable imaging-based education initiatives across the US and Europe. As a technology partner of TeraRecon, NVIDIA has supported the effort by contributing powerful image rendering and AI processing resources to the infrastructure for premium 3D system performance and scalability.

The TeraRecon Clinical Training Cloud was created to address the need for widely distributed remote access to advanced visualization tools in support of physician and technologist education. The cloud-based system provides users access to the full suite of multi-specialty advanced visualization workflows within TeraRecon’s Intuition, enabling real-time post processing and on-demand performance.

TeraRecon has been widely adopted for many years by physician-led cardiac and vascular training courses and fellowships around the globe. The all-new Clinical Training Cloud has expanded TeraRecon’s reach to serve the diverse needs of its customers and industry partners, most recently with HeartFlow, to educate physicians about coronary CTA and FFRct, and Penn Medicine.

Lance Scott, Chief Commercial Officer, HeartFlow commented, “Our work with TeraRecon recognizes the important role that advanced diagnostic tools, artificial intelligence, and cloud solutions play in driving the full adoption of new high-impact imaging modalities.”

“Cloud has emerged as the new medium for technology and is growing in popularity with the healthcare community,” said Dr. Mona Flores, Global Head of Medical AI at NVIDIA. “Given the current remote access state of global healthcare, NVIDIA feels it is imperative to empower clinicians to support continuing education for the medical imaging community, and TeraRecon’s Clinical Training Cloud Platform achieves that goal.”

To learn more about TeraRecon’s Clinical Training Cloud, contact [email protected].

About TeraRecon: TeraRecon is a leader in medical advanced visualization and artificial intelligence solutions. Their flagship product, Intuition, is the 2020 KLAS category leader for advanced visualization and holds the number one market share for US 3D imaging. Recently acquired by SymphonyAI Group, TeraRecon is one of seven portfolio companies and is strategically focused on AI-driven innovation in healthcare. The company continues to innovate ahead of customer demand and has most recently developed sophisticated healthcare-focused artificial intelligence platform solutions unlike any in the world today. As a company with a 20-year history of innovation, TeraRecon’s mission is to continuously redefine medical advanced visualization by leveraging artificial intelligence to improve patient care. Website: www.terarecon.com

Contact Marketing at [email protected] and 650.372.1100 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f5bf313b-81e0-4ee8-bd14-4986e9012d16

VANCOUVER, British Columbia, Nov. 30, 2020 (GLOBE NEWSWIRE) — P2 Gold Inc. (“P2” or the “Company”) (TSX-V:PGLD) reports on the 2020 exploration drill program at its Todd Creek Property located in the Golden Triangle in northwest British Columbia.

The Todd Creek 2020 exploration drill program consisted of three holes totaling 1,027 meters and intersected up to 4.19% copper over 1.8 meters. All three drill holes targeted structurally-controlled copper mineralization within large zones of intense QSP (quartz + sericite + pyrite) alteration. Two of the three holes intersected significant copper mineralization with silver and gold. (See Table 1 for drill results.)

Drilling demonstrated that mineralization identified on surface is hosted in veins that are well defined and remain open at depth, with copper and gold grades appearing to improve with depth. Select drill results include:

• Hole TC-002 (Yellow Bowl Zone) intersected 1.48% copper, 0.04 g/t gold and30.62 g/t silver over 1.2 meters within an 8.8-meter interval grading 0.53% copper, 0.01 g/t gold and10.63 g/t silver; and
• Hole TC-002 (Yellow Bowl Zone) intersected 4.19% copper, 0.19 g/t gold and4.90 g/t silver over 1.8 meters within a 3.3-meter interval grading 3.03% copper, 0.20 g/t gold and7.15 g/t silver.

Plan maps and drill hole sections of the Todd Creek 2020 exploration drill program are available at www.p2gold.com.

The Todd Creek Property covers an area of over 32,000 hectares and is located within the Golden Triangle, approximately 35 kilometers northeast of Stewart, BC. The western side of the Todd Creek Property covers a 12-kilometer by 3-kilometer corridor of altered lower Jurassic volcanic rocks which host at least five zones of gold-copper mineralization including the Yellow Bowl and VMS zones, the targets of the 2020 exploration drill program, and the historical Fall Creek, Ice Creek and South zones. The known zones of mineralization at the Todd Creek Property, which borders the east side of Pretium Resources Inc.’s Bowser Claims, are found in the same stratigraphy that hosts the nearby Brucejack, Snowfield and Goldstorm deposits.

Prospecting has shown that both the Yellow Bowl and VMS Zones are covered by a mafic unit consisting of basalt flows and volcaniclastics which overlie interbedded rhyolite and andesitic volcanics. The zones are marked by intense QSP alteration surrounded by chlorite alteration, believed to be related to a porphyry system at depth. Mineralization intersected to date consists of semi-massive amounts of chalcopyrite, pyrite and locally sphalerite, within well-defined quartz/carbonate veins. These veins were intersected within the upper mafic unit and showed strong alteration of the wall rock and grades improving with depth. This relationship is expected to continue to depth where the veins cut through the underlying andesite/rhyolite volcanics, which experience has shown are better host rocks as seen elsewhere on the property at the Fall Creek, Ice Creek and South zones, as well as in the district as a whole.

Planning for the 2021 exploration program at Todd Creek is underway. It is expected the program will consist of additional prospecting, mapping, ground geophysics and drilling.

Table 1: Selected Todd Creek Property Drill Results, November 2020 (TC-001 to TC-003) ^{(1, 2)}

Quality Assurance

Amanda Tuck, P.Geo is the qualified person responsible for the Todd Creek Property and has reviewed, verified and approved the scientific and technical information in this news release relating thereto.

About
P2 Gold Inc
.

P2 is a mineral exploration and development company focused on advancing precious metals discoveries and acquisitions in the Pacific Northwest.

For further information, please contact:

Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. “Forward-looking information” includes statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, the Company’s expectations, strategies and plans for the Todd Creek Property, including the Company’s planned expenditures and exploration activities.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See “Risk Factors” in the Company’s annual information form dated October 21, 2020 filed on SEDAR at www.sedar.com for a discussion of these risks.

The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.

Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.

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

DURHAM, N.C., Nov. 30, 2020 (GLOBE NEWSWIRE) — TeraRecon, the leading provider of AI-driven advanced visualization solutions, today announced the expansion of their distribution offering to Change Healthcare customers for their AI-powered Intuition Subscription. As one of the major Enterprise Imaging providers to extend this new offering, Change Healthcare will empower customers to take advantage of flexible purchasing terms while deploying multi-specialty, enterprise-wide advanced imaging decision support to their organization.

TeraRecon’s new subscription offering, Intuition Titanium, brings customers a consolidated and scalable 3D imaging solution that delivers AI-powered advanced visualization workflows. The subscription includes the company’s full Eureka AI Clinical Platform, which also gives customers the unique ability to include best-of-breed 3^rd party AI algorithms or in-house research innovations as part of their PACS workflow.

“Change Healthcare’s customers have an exciting new path forward,” said John Danahy, TeraRecon’s Chief Revenue Officer. “They will be able to offer their radiology departments, and every imaging-dependent specialist in their health system, a seamless, consistent, and powerful AI-driven interpretation experience that brings new insights into their workflow and drives better patient outcomes.”

“Our goal is to empower providers to deliver the best care possible within an efficient workflow,” said Tracy Byers, Senior Vice President and General Manager, Enterprise Imaging, Change Healthcare. ”By expanding our agreement with TeraRecon, we will help support better outcomes by bringing the power of their innovative advanced visualization capabilities to radiologists and cardiologists.”

Released in Q3 2020, the new offering has seen wide conversion interest and adoption from the existing TeraRecon customer base. It has removed barriers of entry for new customers looking to adopt an AI-driven imaging strategy. To explore all that the new subscription has to offer, visit www.terarecon.com. TeraRecon’s latest advanced visualization and artificial intelligence technologies will be exhibited during the upcoming Radiological Society of North America’s 2020 Annual Scientific Virtual Session from Sunday, November 29^th – Saturday, December 5^th.

About TeraRecon: TeraRecon is a leader in medical advanced visualization and artificial intelligence solutions. Their flagship product, Intuition, is the 2020 KLAS category leader for advanced visualization and holds the number one market share for US 3D imaging. Recently acquired by SymphonyAI Group, TeraRecon is one of seven portfolio companies and is strategically focused on AI-driven innovation in healthcare. The company continues to innovate ahead of customer demand and has most recently developed sophisticated healthcare-focused artificial intelligence platform solutions unlike any in the world today. As a company with a 20-year history of innovation, TeraRecon’s mission is to continuously redefine medical advanced visualization by leveraging artificial intelligence to improve patient care. Website: www.terarecon.com.

Contact Marketing at [email protected] and 650.372.1100

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1ec34891-55c2-489a-a3e1-b4ebc3a420b9