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Canadian Natural Resources Limited Prices C$800 Million in 3 and 7 Year Medium-Term Notes

CALGARY, Alberta, Nov. 12, 2020 (GLOBE NEWSWIRE) — Canadian Natural Resources Limited announces Limited (“Canadian Natural” or the “Company”) announces that on November 12, 2020, it priced the following medium term notes which were sold to investors in Canada:

Note / Coupon Principal Maturity Price per Note Yield to Maturity
3 year / 1.45% $500,000,000 November 16, 2023 C$99.886 1.489 %
7 year / 2.50% $300,000,000 January 17, 2028 C$99.982 2.503 %

RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc. and TD Securities Inc. acted as joint lead agents and joint book-runners for the offering of the medium-term notes. CIBC World Markets Inc., acted as joint lead agent and AltaCorp Capital Inc., Desjardins Securities Inc., Merrill Lynch Canada Inc. and National Bank Financial Inc. acted as co-agents for the offering of the medium-term notes.

The net proceeds received by Canadian Natural from the issuance and sale of the Notes will be used primarily for refinancing Canadian Natural’s outstanding indebtedness and for general corporate purposes, which may include financing our capital expenditure program and working capital requirements. The net proceeds that are not utilized immediately may be invested in short-term marketable securities. The medium-term notes were issued under the Company’s Canadian base shelf prospectus dated July 24, 2019 that allows for the issuance of debt securities in an aggregate principal amount of up to C$3.0 billion. The offering is targeted to close on November 16, 2020, subject to customary closing conditions.

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

Canadian Natural is a senior oil and natural gas production company, with continuing operations in its core areas located in  Western Canada, the U.K. portion of the North Sea and Offshore Africa.

CANADIAN NATURAL RESOURCES LIMITED

2100, 855 – 2nd Street S.W. Calgary, Alberta, T2P4J8
Phone: 403-514-7777   Email: [email protected] 
www.cnrl.com
 
 
TIM S. MCKAY

President

MARK A. STAINTHORPE
Chief Financial Officer and Senior Vice-President, Finance

JASON M. POPKO
Manager, Investor Relations

Trading Symbol – CNQ
Toronto Stock Exchange
New York Stock Exchange

Certain information regarding the Company contained herein may constitute forward-looking statements under applicable securities laws.  Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Refer to our website for complete forward-looking statements www.cnrl.com 

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Live Webcast Invite: Accelerating the Success of Canadian Professional Service Businesses

November
17

th

, 2020, 1
2
:00pm –
1
:00pm EST


Register


Today


!

MARKHAM, Ontario, Nov. 12, 2020 (GLOBE NEWSWIRE) — It’s not enough to stay competitive — Canadian professional service companies need to get ahead of the curve to both improve productivity and accelerate success. But with client demands in flux and margins at risk, many firms are uncertain about the most sustainable path to positive professional outcomes.

Join IWI Consulting Group on November 17th, 2020 at 12:00pm EST for our newest webcast, Accelerating Success in a Volatile Business Environment. Dive into current challenges faced by the professional service industry and discover actionable solutions that can help your organization both accelerate and sustain success at scale.

Solving for Service Challenges

Competition among Canadian professional service firms are heating up as companies respond to both evolving consumer expectations and the emerging adjustments required to deliver top-tier professional services during a pandemic.

For professional service organizations, common current challenges include:

  • Manual, error-prone processes that increase total overhead
  • Management of multiple project types at scale
  • Billing complexities that negatively impact cash flow
  • Consolidation, budgeting and forecasting both in the short- and long-term
  • Lack of visibility into key data for decision-making

T
he
Impact

In our upcoming webcast, we’ll tackle these topics and showcase how the right software deployments — implemented the right way at the right time — can help reduce complexity and boost overall performance. Effective implementation can deliver substantial impact for organizations, such as

  • 90% reduction in payroll processing times
    for one staffing company
  • 12% improvement to project margins
    for a life sciences firm
  • 20-day
    reduction to monthly close timelines
    in an HR organization

While each business occupies a separate market vertical, they share a common foundation as agile, professional service enterprises. In each case, targeted application of cloud financial management solutions to address specific pain points helped these companies realize accelerated success — discover how your firm can do the same in our upcoming webcast.


Register


Today

for our professional services webcast. Can’t make it? Register today and you’ll receive a link to the recorded content
post webcast
.


Register Now

About Us
— As a Sage Intacct partner with two decades of experience empowering Canadian professional service firms to improve operations and outcomes, IWI Consulting Group has built a reputation on helping companies deliver clear, measurable and consistent results.


Contact
:

John Sabaratnam

IWI Consulting Group Inc.

310 – 80 Acadia Avenue

Markham, ON L3R 9V1

Toll-Free: (866) 916-3851 ext 101

Email: [email protected]

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Canacol Energy Ltd. Reports an 11% Increase in Realized Contractual Gas Sales and a Net Income of $2.6 Million in Q3 2020

CALGARY, Alberta, Nov. 12, 2020 (GLOBE NEWSWIRE) — Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to report its financial and operating results for the three and nine months ended September 30, 2020.  Dollar amounts are expressed in United States dollars, except as otherwise noted.

Highlights for the three and nine months ended September 30, 2020

(Production is stated as working-interest before royalties)

Financial and operational highlights of the Corporation include:

  • Realized contractual natural gas sales volumes increased 11% and 33% to 163 MMscfpd and 172.2 MMscfpd for the three and nine months ended September 30, 2020, respectively, compared to 146.4 MMscfpd and 129.7 MMscfpd for the same periods in 2019, respectively.  Average natural gas production volumes increased 10% and 31% to 162 MMscfpd and 171.5 MMscfpd for the three and nine months ended September 30, 2020, respectively, compared to 147.6 MMscfpd and 130.9 for the same periods in 2019, respectively.  The increase is primarily due to the pipeline expansion in late Q3 2019, offset by the decrease in sales as a result of the COVID-19 pandemic.
  • Total natural gas revenues, net of royalties and transportation expenses increased 2% and 21% to $56.3 million and $179.5 million for the three and nine months ended September 30, 2020, respectively, compared to $55.1 million and $148.2 million for same periods in 2019, respectively, mainly attributable to the increase of natural gas production due to the 2019 pipeline expansion, offset by lower spot market gas sales prices, net of transportation costs due to COVID-19.  
  • Adjusted funds from operations decreased 8% and increased 20% to $33.4 million and $109.9 million for the three and nine months ended September 30, 2020, respectively, compared to $36.4 million and $91.9 million for the same periods in 2019, respectively. Adjusted funds from operations per basic share decreased 10% and increased 17% to $0.18 per basic share and $0.61 per basic share for the three and nine months ended September 30, 2020, respectively, compared to $0.20 per basic share and $0.52 per basic share for the same periods in 2019, respectively. 
  • EBITDAX decreased 8% and increased 15% to $42.3 million and $141.6 million for the three and nine months ended September 30, 2020, respectively, compared to $46 million and $122.9 million for the same periods in 2019, respectively.
  • The Corporation realized a net income of $2.6 million and a net loss of $5.7 million for the three and nine months ended September 30, 2020, respectively, compared to a net income of $0.7 million and $8.8 million for the same periods in 2019, respectively.  The net loss realized during the nine months ended September 30, 2020 is solely due to the non-cash deferred tax expense of $39.3 million, which is primarily due to the effect of the reduction in the Colombian Peso exchange rate on the value of unused tax losses and cost pool.
  • The Corporation’s natural gas operating netback decreased 10% and 9% to $3.47 per Mcf and $3.57 per Mcf in the three and nine months ended September 30, 2020, respectively, compared to $3.86 per Mcf and $3.92 per Mcf for the same periods in 2019, respectively.  The decrease is mainly due to lower spot market gas sales prices, net of transportation costs due to COVID-19.
  • Net capital expenditures for the three and nine months ended September 30, 2020 were $26.4 million and $54.6 million, respectively. Net capital expenditures included non-cash adjustments related to decommissioning obligations and right-of-use leased assets of $0.8 million and $4.6 million for the three and nine months ended September 30, 2020, respectively.
  • On July 31, 2020, the Corporation entered into a $46 million senior unsecured revolving credit facility (the “RCF”) and a $75 million senior unsecured bridge term loan (the “Bridge Loan”) with a syndicate of banks.  The Bridge Loan is intended to be used to construct and own a pipeline from the Corporation’s operations to Medellin, Colombia (the “Project”). The Bridge Loan includes an interest rate of LIBOR + 4.25%, a two-year term, and the Corporation’s ability to repay the Bridge Loan at any time within the term without penalty.  The RCF includes an interest rate of LIBOR + 4.75%, a three-year term, and the Corporation’s ability to repay/redraw the RCF at any time within the term without penalty.  Canacol will pay a commitment fee on the Bridge Loan and RCF of 30% of the respective interest margins of 4.25% and 4.75% on any undrawn amounts throughout the term. 
  • On August 28, 2020, the Corporation withdrew the initial $25 million of the Bridge Loan, net of transaction costs of $3.1 million, which will be used for initial engineering costs and environmental licensing related to the Project.  The remaining $50 million is available to be drawn at any time up to twelve months from the closing date and is currently budgeted for Project construction materials.  The RCF remains undrawn as at September 30, 2020.
  • As at September 30, 2020, the Corporation had $93.8 million in cash and cash equivalents, $2.7 million in restricted cash and $87.8 million in working capital surplus.

Outlook

In October 2020, the Corporation tested the Arandala-1 exploration well, which was drilled in late 2019. The well encountered 29.5 feet true vertical depth of net gas pay within the Porquero sandstone and was tested with a final production rate of 12.8 MMscfpd. The well is currently tied to the production manifold and ready for production.

For the remainder of 2020, the Corporation plans to commence the drilling of two additional gas exploration wells, Flauta-1 and Siku-1.

The Corporation also plans to add two new exploration and production contracts to its portfolio, the VIM-44 block, which is located in the Lower Magdalena Basin adjacent to its main gas producing area, and the VMM-47 block located in the Middle Magdalena Basin which complements its large existing gas exploration position in the basin.

The 2020 year started with national gas demand slightly above 2019 levels in the January and February 2020 time period.  In the month of April 2020, with Colombia under a country-wide lockdown related to COVID-19, the national gas demand decreased 25% relative to the same period in 2019, 721 MMscfpd versus 957 MMscfpd respectively.  Since May 2020, the national gas demand has slowly recovered as economic activity resumed following the lockdown.  In the month of October 2020, the national gas demand stood at 837 MMscfpd, down only 6% from 892 MMscfpd in October 2019.  In order to increase interruptible gas sales during the period May through to August 2020, the Corporation sold interruptible volumes at competitive prices to gain market share.  Since September 2020, with higher levels of national demand, the Corporation’s pricing for interruptible volumes has recovered.  Although the Corporation expects national gas demand to increase in 2021 from 2020 levels, given the ongoing spread of COVID-19 in Colombia, uncertainty remains with respect to both future gas demand and interruptible pricing depending upon the trajectory of the pandemic in Colombia.

Financial   Three months ended
September 30, 		    Nine months ended
September 30,
  2020   2019 Change     2020   2019 Change
                       
Total natural gas, LNG and crude oil
revenues, net of royalties and
transportation expense		   $ 57,429      $ 56,634   1 %     $ 182,828        $ 153,727   19 %
                       
Adjusted Funds from operations(1)   $ 33,409      $ 36,420   (8 %)     $ 109,871        $ 91,911   20 %
Per share  – basic ($)(1)   0.18      0.20   (10 %)     0.61        0.52   17 %
Per share  – diluted ($)(1)   0.18      0.20   (10 %)     0.61        0.51   20 %
                       
Net income (loss) and comprehensive
income (loss)(2)		   $ 2,609      $ 663   294 %     $ (5,664 )     $ 8,815   n/a  
Per share – basic ($)   0.01      —   n/a       (0.03 )     0.05   n/a  
Per share – diluted ($)   0.01      —   n/a       (0.03 )     0.05   n/a  
                       
Cash flow provided by operating activities   $ 50,016      $ 36,887   36 %     $ 125,848        $ 71,169   77 %
Per share – basic ($)   0.28      0.21   33 %     0.70        0.40   75 %
Per share – diluted ($)   0.28      0.20   40 %     0.69        0.40   73 %
                       
EBITDAX(1)   $ 42,303      $ 46,037   (8 %)     $ 141,588        $ 122,867   15 %
                       
Weighted average shares outstanding –
basic		   180,980      178,273   2 %     180,942        177,736   2 %
Weighted average shares outstanding –
diluted		   181,495      180,873   —       181,543        179,681   1 %
                       
Capital expenditures, net dispositions   $ 26,437      $ 30,806   (14 %)     $ 54,598        $ 78,973   (31 %)
                       
                  Sep 30,
2020 		        Dec 31,
2019		   Change
                     
Cash and cash equivalents               $ 93,770        $ 41,239   127 %
Restricted cash               $ 2,749        $ 4,524   (39 %)
Working capital surplus               $ 87,764        $ 50,676   73 %
Total debt               $ 416,684        $ 392,946   6 %
Total assets               $ 779,560        $ 754,062   3 %
                       
Common shares, end of period (000’s)               180,623        180,075   —  
                       
Operating   Three months ended
September 30, 		    Nine months ended
September 30,
  2020   2019 Change     2020   2019 Change
                       
Production, before royalties(1)                      
Natural gas and LNG (MMscfpd)   162,012      147,630   10 %     171,475        130,901   31 %
Colombia oil (bopd)   317      322   (2 %)     292        365   (20 %)
Total (boepd)   28,740      26,222   10 %     30,375        23,330   30 %
                       
Realized contractual sales, before royalties(1)                      
Natural gas and LNG (MMscfpd)   162,984      146,439   11 %     172,216        129,747   33 %
Colombia oil (bopd)   347      329   5 %     281        375   (25 %)
Total (boepd)   28,941      26,020   11 %     30,494        23,138   32 %
                       
Operating netbacks(1)                      
Natural gas and LNG ($/Mcf)   3.47      3.86   (10 %)     3.57        3.92   (9 %)
Colombia oil ($/bopd)   17.04      24.34   (30 %)     16.98        25.59   (34 %)
Corporate ($/boe)   19.76      22.06   (10 %)     20.30        22.41   (9 %)

(1) Non-IFRS measures – see “Non-IFRS Measures” section within the MD&A.
(2) The net loss realized during the nine months ended September 30, 2020 is solely due to the non-cash deferred tax expense of $39.3 million, which is primarily due to the effect of the reduction in the Colombian Peso (“COP”)  exchange rate on the value of unused tax losses and cost pools. In the event that the COP strengthens in the future, as it did as at June 30, 2020, the Corporation would realize a deferred income tax recovery for the period.

This press release should be read in conjunction with the Corporation’s interim condensed consolidated financial statements and related Management’s Discussion and Analysis. The Corporation’s has filed its interim condensed consolidated financial statements and related Management’s Discussion and Analysis as at and for the three and nine months ended September 30, 2020 with Canadian securities regulatory authorities. These filings are available for review on SEDAR at www.sedar.com.

Canacol is a natural gas exploration and production company with operations focused in Colombia. The Corporation’s shares are traded on the Toronto Stock Exchange under the symbol CNE, the OTCQX in the United States of America under the symbol CNNEF and the Bolsa de Valores de Colombia under the symbol CNEC.

This press release contains certain forward-looking statements within the meaning of applicable securities law.  Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “target”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur, including without limitation statements relating to estimated production rates from the Corporation’s properties and intended work programs and associated timelines.  Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.  The Corporation cannot assure that actual results will be consistent with these forward looking statements.  They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law.  Information and guidance provided herein supersedes and replaces any forward looking information provided in prior disclosures.  Prospective investors should not place undue reliance on forward looking statements.  These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry.  Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Corporation.  Other risks are more fully described in the Corporation’s most recent Management Discussion and Analysis (“MD&A”) and Annual Information Form, which are incorporated herein by reference and are filed on SEDAR at www.sedar.com.  Average production figures for a given period are derived using arithmetic averaging of fluctuating historical production data for the entire period indicated and, accordingly, do not represent a constant rate of production for such period and are not an indicator of future production performance.  Detailed information in respect of monthly production in the fields operated by the Corporation in Colombia is provided by the Corporation to the Ministry of Mines and Energy of Colombia and is published by the Ministry on its website; a direct link to this information is provided on the Corporation’s website.  References to “net” production refer to the Corporation’s working-interest production before royalties.


Use of Non-IFRS Financia

l Measures – Such supplemental measures should not be considered as an alternative to, or more meaningful than, the measures as determined in accordance with IFRS as an indicator of the Corporation’s performance, and such measures may not be comparable to that reported by other companies.  This press release also provides information on adjusted funds from operations.  Adjusted funds from operations is a measure not defined in IFRS.  It represents cash provided by operating activities before changes in non-cash working capital and decommissioning obligation expenditures.  The Corporation considers funds from operations a key measure as it demonstrates the ability of the business to generate the cash flow necessary to fund future growth through capital investment and to repay debt.  Funds from operations should not be considered as an alternative to, or more meaningful than, cash provided by operating activities as determined in accordance with IFRS as an indicator of the Corporation’s performance.  The Corporation’s determination of adjusted funds from operations may not be comparable to that reported by other companies.  For more details on how the Corporation reconciles its cash provided by operating activities to adjusted funds from operations, please refer to the “Non-IFRS Measures” section of the Corporation’s MD&A. Additionally, this press release references working capital, EBITDAX and operating netback measures. Working capital is calculated as current assets less current liabilities, excluding the current portion of long-term obligations, and is used to evaluate the Corporation’s financial leverage.  EBITDAX is defined as consolidated net income adjusted for interest, income taxes, depreciation, depletion, amortization, exploration expenses and other similar non-recurring or non-cash charges.  Operating netback is a benchmark common in the oil and gas industry and is calculated as total natural gas, LNG and petroleum sales, net transportation expenses, less royalties and operating expenses, calculated on a per barrel of oil equivalent basis of sales volumes using a conversion.  Operating netback is an important measure in evaluating operational performance as it demonstrates field level profitability relative to current commodity prices. Working capital, EBITDAX and operating netback as presented do not have any standardized meaning prescribed by IFRS and therefore may not be comparable with the calculation of similar measures for other entities.

Operating netback is defined as revenues, net transportation expenses less royalties and operating expenses.

Realized contractual sales is defined as natural gas and LNG produced and sold plus income received from nominated take-or-pay contracts without the actual delivery of natural gas or LNG and the expiry of the customers’ rights to take the deliveries.


Boe


Conversion – The term “boe” is used in this news release.  Boe may be misleading, particularly if used in isolation.  A boe conversion ratio of cubic feet of natural gas to barrels oil equivalent is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.  In this news release, we have expressed boe using the Colombian conversion standard of 5.7 Mcf: 1 bbl required by the Ministry of Mines and Energy of Colombia.  As the value ratio between natural gas and crude oil based on the current prices of natural gas and crude oil is significantly different from the energy equivalency of 5.7 Mcf:1, utilizing a conversion on a 5.7 Mcf:1 basis may be misleading as an indication of value. 

For further information please contact:           
Investor Relations
South America: +571.621.1747 [email protected]
Global: +1.403.561.1648 [email protected]     
http://www.canacolenergy.com 

Posted on

Secureworks to Report Third Quarter Fiscal 2021 Financial Results on Dec. 3, 2020; Virtual Investor Day Conference Set for Dec. 8, 2020

ATLANTA, Nov. 12, 2020 (GLOBE NEWSWIRE) — Secureworks (NASDAQ: SCWX) today announced that it plans to release its third quarter fiscal 2021 financial results Thursday, Dec. 3, 2020, before the open of regular U.S. stock market trading hours.

Secureworks will host a live audio webcast that day to review the results at 8:00 a.m. ET, which will also be available on the company’s website at: http://investors.secureworks.com. The webcast will be archived at the same location for one year.

Virtual Investor
Day Conference

Secureworks will host a virtual Investor Day Conference on Tuesday, Dec. 8, 2020 beginning at 9:00 a.m. U.S. ET via a live video webcast. The conference will feature a series of conversations that outline the company’s transformational vision and multi-year strategy to be the world’s leading SaaS-based cybersecurity company. Some of the speakers will include:

  • Mike Cote, CEO
  • Wendy Thomas, President, Customer Success
  • Paul Parrish, Chief Financial Officer
  • Steve Fulton, Chief Product Officer
  • Ian Bancroft, Chief Sales Officer
  • Maureen Perrelli, Chief Channel Officer

Investors who wish to access the live webcast, including audio, video and presentation slides, should visit the company’s web site at http://investors.secureworks.com. The virtual Investor Day Conference login credentials will be delivered to registrants directly.

About Secure
w
orks

Secureworks® (NASDAQ: SCWX), a global cybersecurity leader, enables our customers and partners to outpace and outmaneuver adversaries with more precision, so they can rapidly adapt and respond to market forces to meet their business needs. With a unique combination of cloud-native, SaaS security platform and intelligence-driven security solutions, informed by 20+ years of threat intelligence and research, no other security platform is grounded and informed with this much real-world experience. www.secureworks.com

Contact Information


Investor Inquiries:


Richie Downum
Investor Relations Director
404-235-1021
[email protected]


Media Inquiries:


Derek Delano
Corporate Communications
617-335-9516
[email protected]

Posted on

The Alkaline Water Companyto Host Conference Call to Discuss Fiscal Second Quarter 2021 Results

The Alkaline Water Companyto Host Conference Call to Discuss Fiscal Second Quarter 2021 Results

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–
The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the “Company”), is a producer of premium bottled alkaline water, flavor-infused waters, and CBD infused products sold under the brand names Alkaline88®, A88™, and A88CBD™, respectively. Today the Company announces that President and CEO Richard Wright and Chief Financial Officer David Guarino will host a teleconference with investors and analysts to review fiscal second-quarter 2021 financial results.

The call will be held on Monday, November 16, 2020, at 5:00 PM Eastern Time. We will issue a press release outlining our financial results and outlook after the market close on that date and will also post it on our website at www.thealkalinewaterco.com before the call.

Conference Call Details

Date: November 16, 2020

Time: 5:00 PM Eastern Time

Dial-in Number for U.S. and Canadian Callers: 877-407-3088

Dial-in Number for International Callers (Outside of the U.S. and Canada): 201-389-0927

Please dial-in to the above-referenced telephone numbers 5 to 10 minutes before the scheduled call time to join the live conference call.

A replay will be available for one week starting on November 17, 2020, at approximately 10:30 AM (ET). To access the replay, please dial 877-660-6853 in the U.S. or Canada and 201-612-7415 for international callers. The conference ID# is 13712984.

About The Alkaline Water Company Inc.

Founded in 2012, The Alkaline Water Company (NASDAQ and CSE: WTER) is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88®, is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88® delivers perfect 8.8 pH balanced alkaline drinking water with trace minerals and electrolytes and boasts our trademarked label ‘Clean Beverage.’ Quickly being recognized as a growing lifestyle brand, Alkaline88® launched A88 Infused™ in 2019 to meet consumer demand for flavor-infused products. A88 Infused™ flavored water is available in seven unique all-natural flavors, with new flavors coming soon. Additionally, in 2020, the Company launched A88 Infused Beverage Division Inc., which includes the Company’s CBD water and flavor-infused water. For the Company’s topical and ingestible offerings, A88 Infused Products Inc. includes both the Company’s lab-tested full-spectrum hemp salves, balms, lotions, essential oils, and bath salts, along with broad-spectrum hemp powder packs, oil tinctures, capsules, and gummies.

To purchase A88CBD™ products online, visit us at www.A88CBD.com. To learn more about The Alkaline Water Company, please visit www.thealkalinewaterco.com or connect with us on Facebook, Twitter, Instagram, or LinkedIn.

The Alkaline Water Company Inc.

Richard A. Wright

President and CEO

Sajid Daudi

Director of Investor Relations & Corporate Communications

800-923-1910

[email protected]

Media

Jessica Starman

888-461-2233

[email protected]

KEYWORDS: Arizona United States North America

INDUSTRY KEYWORDS: Teens Women Tobacco Supermarket Men Family Food/Beverage Consumer Retail

MEDIA:

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Posted on

EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against Alphabet Inc. – GOOG, GOOGL

EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against Alphabet Inc. – GOOG, GOOGL

NEW YORK–(BUSINESS WIRE)–
Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Alphabet Inc. (NASDAQ: GOOG, GOOGL) resulting from allegations that Alphabet may have issued materially misleading business information to the investing public.

On June 1, 2019, the Wall Street Journal reported that “[t]he Justice Department is gearing up for an antitrust investigation of Alphabet Inc.’s Google, a move that could present a major new layer of regulatory scrutiny for the search giant, according to people familiar with the matter.”

On this news, Alphabet’s Class A common stock price fell $67.76 per share, or over 6%, to close at $1,038.74 per share on June 3, 2019, the next trading day.

Then on October 20, 2020, the U.S. Department of Justice filed an antitrust lawsuit against Google, LLC, a subsidiary of Alphabet.

Rosen Law Firm is preparing a securities lawsuit on behalf of Alphabet shareholders. If you purchased securities of Alphabet please visit the firm’s website at http://www.rosenlegal.com/cases-register-1984.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at mailto:[email protected] or [email protected].

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

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

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

Laurence Rosen, Esq.

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The Rosen Law Firm, P.A.

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

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KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

Posted on

Delic Holdings Inc. Announces Completion of Its Business Combination and Shareholding of Jackee Stang and Dragon Wonder Investments Limited

VANCOUVER, British Columbia, Nov. 12, 2020 (GLOBE NEWSWIRE) — Delic Holdings Inc. (the “Company”), formerly Molystar Resources Inc., today announced that it has completed its previously announced business combination (the “Business Combination”) with Delic Corp. (“Delic”). Pursuant to the Business Combination, Delic is a wholly-owned subsidiary of the Company.

Exchange of Subscription Receipts

In connection with the closing of the Business Combination, 17,377,500 subscription receipts issued pursuant to the ‎Company’s previously announced offering of subscription receipts for aggregate gross proceeds in the amount of ‎$3,475,500 ‎(the “Offering”) were automatically ‎exchanged into Subordinate Voting Shares (as defined below) of the Company on a one-for-one basis.‎

Completion of the Business Combination and Escrow Release

The Business Combination was completed by way of, among other things: (i) several share ‎exchanges between certain Canadian holders of common stock of Delic and the Company, pursuant to which such ‎holders were issued Subordinate Voting Shares; (ii) a three-cornered amalgamation among the Company, ‎Eception Ventures Ltd. (“Finco”) and 1237225 B.C. Ltd. (“BC Subco”), a wholly-owned subsidiary of the Company, pursuant to which Finco shareholders received subordinate voting shares of ‎the Company, holders of Finco special warrants received replacement Delic special warrants (“Replacement Special Warrants”), and pursuant to which BC Subco amalgamated with Finco to form a new company, which was ‎subsequently vertically amalgamated with the Company; (iii) Delic triggered the conversion of the Replacement Special Warrants into Subordinate Voting Share on a one-for-one basis; and (iv) Molystar Merger Sub, LLC (“US Subco”), a wholly-owned subsidiary of ‎the Company, and Delic effected a merger under Delaware law whereby US Subco merged with and into Delic with Delic ‎surviving and becoming a wholly-owned subsidiary of the Company, and the shareholders of Delic, in exchange for each of their ‎common stock of Delic, received either one Subordinate Voting Share or one Multiple Voting Share (as defined below) of the ‎Company, as applicable. Pursuant to steps (i) through (iv), the Company issued 170,783 Multiple Voting Shares and 14,487,700 Subordinate Voting Shares.‎

As part of the Business Combination, the Company implemented a two-class voting structure on November 12, 2020, ‎including re-designating the existing common shares as subordinated voting shares (the “Subordinate Voting ‎Shares”), amending the special rights and restrictions of the Subordinate Voting Shares, creating a new class of multiple voting shares (the “Multiple Voting Shares”) and changing its name to “Delic Holdings Inc.”. Each ‎Subordinate Voting Share carries the right to one vote per share on all matters to be voted on by shareholders of the ‎Company and each Multiple Voting Share carries the right to 100 votes per share on all matters to be voted on by shareholders ‎of the Company (or one vote per Subordinate Voting Share into which each Multiple Voting Shares is convertible).‎

The proceeds from the Offering were placed into escrow on completion of the Offering. The ‎escrowed proceeds from the Offering were ‎subsequently released from escrow upon closing of the Business Combination.‎

The Company has received conditional approval from the Canadian Securities Exchange (“CSE”) for the listing of its ‎Subordinate Voting Shares, which are expected to commence trading on the CSE under the ticker symbol “DELC” at ‎market open on Wednesday, November 18, 2020. Listing is subject to the Company fulfilling all listing requirements of the ‎CSE. Full details of the Company including the Business Combination will be set out in the Company’s listing statement ‎dated on or around November 16, 2020 (the “Listing Statement”). A copy of the Listing Statement can be found under the Company’s ‎profile on SEDAR at www.sedar.com.‎

The securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), ‎or any state securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, ‎persons in the United States (as such term is defined in Regulation S under the U.S. Securities Act) absent registration or ‎an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation ‎of an offer to buy in the United States nor shall there by any sale of the securities in any State in which such offer, solicitation or sale would be ‎unlawful. ‎

About Delic Corp.‎

Delic was formed in 2019 to address the growing ‎interest in psychedelic science. Delic was the ‎first psychedelic umbrella media ‎platform and is currently a trusted source for those interested in ‎psychedelic science. ‎Delic’s offerings include “The Delic”, an e-commerce lifestyle brand, ‎‎”Reality Sandwich”, a free public education platform providing psychedelic guides, news and ‎culture and “Meet Delic”, a proposed biannual psychedelic wellness summit. ‎ For more information visit https://deliccorp.com. 

Shareholdings of Jackee Stang and Dragon Wonder Investments ‎Limited

Jackee Stang, CEO and Director of the Company (“Stang”), located at‎ 885 West Georgia, ‎Suite 1400, Vancouver, BC V6C 3E8‎, announces hereby that in connection with the Business ‎Combination, Stang acquired ownership or control or direction over ‎137,300 ‎Multiple Voting ‎Shares.‎ Each Multiple Voting Share is convertible into 100 Subordinate Voting Share. Accordingly, Stang is deemed to have acquired ‎13,730,000 ‎Subordinate Voting Shares, representing ‎‎26.71% ‎of the class on a partially diluted basis. If all Multiple Voting Shares were converted to ‎‎Subordinate Voting Shares, Stang would beneficially own 24.89% of the class. In addition, ‎‎Stang is anticipated to be issued 1,000,000 unvested stock option awards. Immediately prior to the Business Combination, Stang and her joint actors owned or ‎‎controlled no securities of the Company.‎

Dragon Wonder Investments ‎Limited (“DWIL”), located at‎ Vistra Corporate Services ‎Centre,‎ Wickhams Cay II, Road Town, Tortola, British Virgin Islands, VG1110‎, announces hereby ‎that in connection with the Business Combination, DWIL acquired ownership or control or ‎direction over ‎‎6,911,700‎ ‎Subordinate Voting Shares, representing 18.35% of the class on a ‎partially diluted ‎basis.‎ Each Multiple Voting Share is convertible into 100 Subordinate Voting Share. If all Multiple ‎Voting ‎Shares were converted to Subordinate Voting Shares, DWIL would beneficially own ‎‎12.53% ‎of the class.‎ Immediately prior to the Business Combination, DWIL and its joint actors owned or ‎‎controlled no securities of the Company.‎

This portion of the press release is issued pursuant to National Instrument 62-103 – The Early Warning ‎System and Related Take-Over Bid and Insider Reporting Issues, which requires a report ‎to be filed on SEDAR (www.sedar.com) by each of Stang and DWIL containing additional information with respect to ‎the foregoing matters. A copy of either of these reports may be obtained by contacting the Company‎.‎

The CSE (operated by CNSX Markets Inc.) has in no way passed upon the merits of the Business Combination and has neither ‎approved nor disapproved of the contents of this press release. This announcement does not constitute an offer, invitation or ‎recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the ‎basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to ‎buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities described herein ‎have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act)” or ‎any state securities laws and accordingly may not be offered or sold within the United States or to “U.S. persons”, as such term is ‎defined in Regulation S promulgated under the U.S. Securities Act (“U.S. Persons)”, except in compliance with the registration ‎requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news ‎release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company’s securities to, or for the account or ‎benefit of, persons in the United States or U.S. Persons. For more information about the transactions described herein, please refer to ‎the Listing Statement.‎

Forward Looking Information

Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking ‎statements are not based on historical facts, but rather on current expectations and projections about future events, many ‎of which, by their nature, are inherently uncertain and outside of the Company’s control and are therefore subject to risks ‎and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the ‎forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative ‎thereof or similar variations. Forward-looking statements in this news release include, but are not limited to, information ‎concerning the listing of the Subordinate Voting Shares, including whether conditions to the listing of the Subordinate Voting ‎Shares will be satisfied, expectations for the effects of the Business Combination or the ability of the combined company to ‎successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors. ‎Those assumptions and factors are based on information currently available to the Company. Although management of the ‎Company has attempted to identify important factors that could cause actual results to differ materially from those contained ‎in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as ‎anticipated, estimated or intended. Among the key factors that could cause actual results to differ materially from those ‎projected in the forward-looking information and statements are the following: ability to obtain requisite regulatory approvals ‎and the satisfaction of other conditions to the listing of the Subordinating Voting Shares; the potential impact of the ‎announcement of the consummation of the Business Combination on relationships, including with regulatory bodies, ‎employees, suppliers, customers and competitors; changes in general economic, business and political conditions, ‎including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; ‎and the diversion of management time on the Business Combination. Should one or more of these risks, uncertainties or ‎other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, ‎actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or ‎expected. There can be no assurance that such statements will prove to be accurate, as actual results and future events ‎could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-‎looking statements and forward-looking information. The forward-looking information contained in this release is made as of ‎the date hereof and the Company assumes no obligation to update or revise any forward-looking statements or forward-‎looking information that are incorporated by reference herein, whether as a result of new information, future events or ‎otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking ‎information contained herein. All subsequent written and oral forward-looking information and statements attributable to the ‎Company or persons acting on its behalf is expressly qualified in its entirety by this notice.‎

Contact Information:‎

Delic Holdings Inc.

Jackee Stang
Chief Executive Officer and a Director ‎
E-mail: [email protected]‎ 

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN UNITED STATES

Posted on

Orchid Island Capital Announces November 2020 Monthly Dividend and October 31, 2020 RMBS Portfolio Characteristics

Orchid Island Capital Announces November 2020 Monthly Dividend and October 31, 2020 RMBS Portfolio Characteristics

  • November 2020 Monthly Dividend of $0.065 Per Share of Common Stock
  • RMBS Portfolio Characteristics as of October 31, 2020
  • Next Dividend Announcement Expected December 15, 2020

VERO BEACH, Fla.–(BUSINESS WIRE)–
Orchid Island Capital, Inc. (the “Company”) (NYSE:ORC) announced today that the Board of Directors (the “Board”) declared a monthly cash dividend for the month of November 2020. The dividend of $0.065 per share will be paid December 29, 2020, to holders of record of the Company’s common stock on November 30, 2020, with an ex-dividend date of November 27, 2020. The Company plans on announcing its next common stock dividend on December 15, 2020.

The Company intends to make regular monthly cash distributions to its holders of common stock. In order to qualify as a real estate investment trust (“REIT”), the Company must distribute annually to its stockholders an amount at least equal to 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain. The Company will be subject to income tax on taxable income that is not distributed and to an excise tax to the extent that a certain percentage of its taxable income is not distributed by specified dates. The Company has not established a minimum distribution payment level and is not assured of its ability to make distributions to stockholders in the future.

As of November 12, 2020, October 31, 2020 and September 30, 2020, the Company had 69,295,962 shares of common stock outstanding.

RMBS Portfolio Characteristics

Details of the RMBS portfolio as of October 31, 2020 are presented below. These figures are preliminary and subject to change. The information contained herein is an intra-quarter update created by the Company based upon information that the Company believes is accurate:

  • RMBS Valuation Characteristics
  • RMBS Assets by Agency
  • Investment Company Act of 1940 (Whole Pool) Test Results
  • Repurchase Agreement Exposure by Counterparty
  • RMBS Risk Measures

About Orchid Island Capital, Inc.

Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac or Ginnie Mae, and (ii) structured Agency RMBS. The Company is managed by Bimini Advisors, LLC, a registered investment adviser with the Securities and Exchange Commission.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements include, but are not limited to, statements about the Company’s distributions. These forward-looking statements are based upon Orchid Island Capital, Inc.’s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and Quarterly Report on Form 10-Q for the three months ended March 31, 2020.

 

RMBS Valuation Characteristics

($ in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Realized

Realized

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Oct 2020

Aug – Oct

 

Modeled

 

Modeled

 

 

 

 

 

 

 

 

Net

 

 

Weighted

CPR

2020 CPR

 

Interest

 

Interest

 

 

 

 

 

%

 

 

Weighted

 

 

Average

(1-Month)

(3-Month)

 

Rate

 

Rate

 

 

Current

 

Fair

of

 

Current

Average

 

 

Maturity

(Reported

(Reported

 

Sensitivity

 

Sensitivity

Type

 

Face

 

Value(1)

Portfolio

 

Price

Coupon

GWAC

Age

(Months)

in Nov)

in Nov)

 

(-50 BPS)(2)

 

(+50 BPS)(2)

Pass Through RMBS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Post Reset ARM

$

924

$

956

0.02%

$

103.50

3.39%

3.84%

195

166

65.71%

51.63%

$

3

$

(2)

Fixed Rate CMO

 

135,894

 

145,172

3.60%

 

106.83

4.00%

4.40%

40

315

11.02%

20.49%

 

(86)

 

(137)

15yr 4.0

 

692

 

742

0.02%

 

107.24

4.00%

4.49%

30

125

6.41%

89.68%

 

7

 

(8)

15yr Total

 

692

 

742

0.02%

 

107.24

4.00%

4.49%

30

125

6.41%

89.68%

 

7

 

(8)

20yr 2.0

 

100,000

 

103,397

2.56%

 

103.40

2.00%

2.88%

1

239

0.70%

6.16%

 

984

 

(1,646)

20yr 2.5

 

147,250

 

153,647

3.81%

 

104.34

2.50%

3.34%

4

236

8.46%

4.30%

 

579

 

(1,151)

20yr Total

 

247,250

 

257,044

6.37%

 

103.96

2.30%

3.15%

3

237

5.32%

4.99%

 

1,563

 

(2,797)

30yr 2.5

 

247,618

 

259,497

6.43%

 

104.80

2.50%

3.36%

3

357

5.44%

n/a

 

2,245

 

(4,152)

30yr 3.0

 

605,480

 

662,434

16.42%

 

109.41

3.00%

3.56%

4

355

17.76%

18.52%

 

11,463

 

(14,265)

30yr 3.5

 

1,446,206

 

1,600,002

39.66%

 

110.63

3.50%

3.99%

11

345

15.02%

13.74%

 

15,437

 

(22,471)

30yr 4.0

 

204,193

 

229,733

5.69%

 

112.51

4.00%

4.52%

27

327

20.09%

17.83%

 

3,632

 

(4,114)

30yr 4.5

 

279,005

 

316,470

7.84%

 

113.43

4.50%

5.01%

17

340

21.57%

21.15%

 

2,703

 

(3,212)

30yr 5.0

 

46,897

 

53,024

1.31%

 

113.06

5.00%

5.65%

33

321

23.95%

28.06%

 

480

 

(486)

30yr Total

 

2,829,399

 

3,121,160

77.37%

 

110.31

3.47%

4.01%

11

346

15.69%

15.87%

 

35,960

 

(48,700)

Total Pass Through RMBS

 

3,214,159

 

3,525,074

87.38%

 

109.67

3.40%

3.96%

12

336

14.60%

14.50%

 

37,447

 

(51,644)

Structured RMBS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest-Only Securities

 

285,612

 

30,517

0.76%

 

10.68

4.00%

4.60%

77

269

45.15%

42.46%

 

(2,805)

 

4,546

Total Structured RMBS

 

285,612

 

30,517

0.76%

 

10.68

4.00%

4.60%

77

269

45.15%

42.46%

 

(2,805)

 

4,546

Long TBA Positions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FNCL 2.0 TBA

 

465,000

 

478,514

11.86%

 

102.91

2.00%

 

 

 

 

 

 

7,273

 

(10,599)

Total Long TBA

 

465,000

 

478,514

11.86%

 

102.91

2.00%

 

 

 

 

 

 

7,273

 

(10,599)

Total Mortgage Assets

$

3,964,771

$

4,034,105

100.00%

 

 

3.28%

4.01%

17

331

17.35%

17.25%

$

41,915

$

(57,697)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

Interest

 

 

Average

 

Hedge

 

 

 

 

 

 

 

 

 

 

Rate

 

Rate

 

 

Notional

 

Period

 

 

 

 

 

 

 

 

 

 

Sensitivity

 

Sensitivity

Hedge

 

Balance

 

End

 

 

 

 

 

 

 

 

 

 

(-50 BPS)(2)

 

(+50 BPS)(2)

Eurodollar Futures

$

(50,000)

 

Dec-2021

 

 

 

 

 

 

 

 

 

 

(313)

 

313

Swaps

 

(820,000)

 

Apr-2025

 

 

 

 

 

 

 

 

 

 

(9,790)

 

19,564

5-Year Treasury Futures

 

(69,000)

 

Dec-2020(3)

 

 

 

 

 

 

 

 

 

 

(2,455)

 

1,979

TBA

 

(328,000)

 

Nov-2020

 

 

 

 

 

 

 

 

 

 

(2,472)

 

4,111

Swaptions

 

(667,300)

 

May-2021

 

 

 

 

 

 

 

 

 

 

(3,810)

 

4,712

Hedge Total

$

(1,934,300)

 

 

 

 

 

 

 

 

 

 

 

$

(18,840)

$

30,679

Rate Shock Grand Total

 

 

 

 

 

 

 

 

 

 

 

 

 

$

23,075

$

(27,018)

(1)

Amounts in the tables above include assets with a fair value of approximately $362.0 million purchased in October 2020, which settle in November 2020.

(2)

Modeled results from Citigroup Global Markets Inc. Yield Book. Interest rate shocks assume instantaneous parallel shifts and horizon prices are calculated assuming constant LIBOR option-adjusted spreads. These results are for illustrative purposes only and actual results may differ materially.

(3)

Five year treasury futures contracts were valued at prices of $125.60 at October 31, 2020. The market value of the short position was $86.7 million.

RMBS Assets by Agency

 

 

 

 

Investment Company Act of 1940 Whole Pool Test

($ in thousands)

 

 

 

 

($ in thousands)

 

 

 

 

 

 

Percentage

 

 

 

 

Percentage

 

 

Fair

of

 

 

 

Fair

of

Asset Category

 

Value(1)(2)

Portfolio

 

Asset Category

 

Value(1)(2)

Portfolio

As of October 31, 2020

 

 

 

 

As of October 31, 2020

 

 

 

Fannie Mae

$

2,087,940

58.7%

 

Non-Whole Pool Assets

$

777,779

21.9%

Freddie Mac

 

1,467,651

41.3%

 

Whole Pool Assets

 

2,777,812

78.1%

Total Mortgage Assets

$

3,555,591

100.0%

 

Total Mortgage Assets

$

3,555,591

100.0%

(1)

Amounts in the tables above include assets with a fair value of approximately $362.0 million purchased in October 2020, which settle in November 2020.

(2)

Amounts in the tables above exclude long TBA positions with a market value of approximately $478.5 million.

Borrowings By Counterparty

 

 

 

 

 

 

 

 

($ in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

Weighted

 

 

 

 

 

% of

 

Average

Average

 

 

 

Total

 

Total

 

Repo

Maturity

Longest

As of October 31, 2020

 

Borrowings

 

Debt

 

Rate

in Days

Maturity

Mirae Asset Securities (USA) Inc.

$

367,343

 

11.8%

 

0.24%

90

2/11/2021

Mitsubishi UFJ Securities (USA), Inc

 

341,477

 

11.1%

 

0.24%

60

1/26/2021

Merrill Lynch, Pierce, Fenner & Smith

 

282,037

 

9.2%

 

0.25%

44

12/14/2020

Wells Fargo Bank, N.A.

 

282,011

 

9.2%

 

0.23%

60

1/19/2021

J.P. Morgan Securities LLC

 

259,243

 

8.5%

 

0.25%

130

3/12/2021

RBC Capital Markets, LLC

 

205,128

 

6.7%

 

0.22%

61

1/12/2021

Citigroup Global Markets Inc

 

199,862

 

6.5%

 

0.23%

75

1/21/2021

ED&F Man Capital Markets Inc

 

164,703

 

5.4%

 

0.22%

61

1/22/2021

ABN AMRO Bank N.V.

 

162,034

 

5.3%

 

0.22%

58

1/13/2021

ASL Capital Markets Inc.

 

153,278

 

5.0%

 

0.23%

71

1/20/2021

ING Financial Markets LLC

 

133,587

 

4.4%

 

0.22%

75

1/14/2021

Cantor Fitzgerald & Co.

 

129,520

 

4.2%

 

0.24%

70

1/13/2021

Daiwa Securities America Inc.

 

121,359

 

4.0%

 

0.25%

44

1/15/2021

South Street Securities, LLC

 

76,724

 

2.5%

 

0.28%

135

5/13/2021

Bank of Montreal

 

72,242

 

2.4%

 

0.24%

41

12/11/2020

Lucid Cash Fund USG LLC

 

54,433

 

1.8%

 

0.26%

12

11/12/2020

Goldman, Sachs & Co.

 

27,563

 

0.9%

 

0.20%

16

11/16/2020

J.V.B. Financial Group, LLC

 

25,024

 

0.8%

 

0.23%

76

1/15/2021

AAAMCO

 

9,713

 

0.3%

 

0.26%

4

11/4/2020

Total Borrowings

$

3,067,281

 

100.0%

 

0.24%

70

5/13/2021

 

Orchid Island Capital, Inc.

Robert E. Cauley

Telephone: (772) 231-1400

KEYWORDS: United States North America Florida

INDUSTRY KEYWORDS: Professional Services Finance

MEDIA:

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Albertsons Companies pharmacies to partner with HHS to provide COVID-19 vaccine

Trained pharmacists in company’s 1,700+ pharmacy locations stand ready to safely administer vaccine

BOISE, Idaho, Nov. 12, 2020 (GLOBE NEWSWIRE) — Through the Federal Pharmacy Partnership Strategy for COVID-19 Vaccination, Albertsons Companies pharmacies will receive a direct allocation of COVID-19 vaccine once it is authorized or approved and recommended for use in the United States. 

The U.S. Department of Health and Human Services (HHS) made the announcement earlier today, in which it outlined its partnership with pharmacy chains to maximize access to COVID-19 vaccines for all Americans. The HHS announcement is linked here. 

“Throughout this pandemic, our pharmacy teams have been on the front lines, offering care and health solutions for our communities,” said Omer Gaijal, SVP of Albertsons Companies Pharmacy and Health. “When a vaccine is ready, our pharmacists will play a critical role in administering this important public health service.”

The vaccine will be administered at no cost to recipients.

Albertsons Companies pharmacists (and pharmacy technicians, where state law permits) are trained to administer vaccines. In the face of increased demand, they have protected a record number of people against influenza this season and can provide vaccinations for additional illnesses like MMR, pneumonia, shingles, and more. A complete list of immunizations available at Albertsons Companies pharmacies can be found here.

By providing vaccines directly to jurisdictions and pharmacies, the federal government will be able to distribute the vaccines quickly and efficiently to millions of people. Albertsons Companies pharmacies will work with the CDC and the states in which they operate to streamline and optimize the delivery of the vaccine by working closely to coordinate, track, and monitor distribution.

Once COVID-19 vaccine is available, recipients will be able to find contactless consent forms for the vaccine in the company’s pharmacy apps. By completing the necessary paperwork electronically ahead of time, patients can reduce the amount of time spent in the pharmacy.

Albertsons Companies operates more than 1,700 pharmacies locations nationwide, including those in Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, and Carrs stores.

About Albertsons Companies
Albertsons Companies is a leading food and drug retailer in the United States. The company operates stores across 34 states and the District of Columbia under 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs. Albertsons Cos. is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2019 alone, along with the Albertsons Companies Foundation, the company gave $225 million in food and financial support. In 2020, Albertsons Cos. made a $53 million commitment to community hunger relief efforts and a $5 million commitment to organizations supporting social justice. These efforts have helped millions of people in the areas of hunger relief, education, cancer research and treatment, social justice and programs for people with disabilities and veterans’ outreach.

Andrew Whelan
Albertsons Companies
[email protected]

Posted on

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Garrett Motion Inc. of Class Action Lawsuit and Upcoming Deadline – GTX; GTXMQ

NEW YORK, Nov. 12, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against certain officers of Garrett Motion Inc. (“Garrett” or the “Company”) (NYSE: GTX; OCTMKTS: GTXMQ). The class action, filed in United States District Court for the Southern District of New York, and docketed under 20-cv-09279, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise acquired Garrett securities between October 1, 2018 and September 18, 2020, inclusive (the “Class Period”). Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”).

If you are a shareholder who purchased Garrett securities during the class period, you have until November 24, 2020, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 



[Click here for information about joining the class action]

Garrett designs, manufactures, and sells turbocharger, electric-boosting, and connected vehicle technologies for original equipment manufacturers and the aftermarket. In October 2018, the Company formed as a spin-off of the Transportation Systems business of Honeywell International Inc. (“Honeywell”).

The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) because of Garrett’s agreement to indemnify and reimburse Honeywell for certain asbestos-related liability, the Company was saddled with an unsustainable level of debt; (ii) as a result, Garrett had a highly leveraged capital structure that posed significant challenges to its overall strategic and financial flexibility; (iii) as a result of the foregoing, Garrett’s ability to gain or hold market share was impaired; (iv) as a result of the foregoing, the Company was reasonably likely to seek bankruptcy protection; and (v) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On August 26, 2020, before the market opened, the Company disclosed that its “leveraged capital structure poses significant challenges to its overall strategic and financial flexibility and may impair its ability to gain or hold market share in the highly competitive automotive supply market, thereby putting Garrett at a meaningful disadvantage relative to its peers.” Garrett further stated that its “high leverage is exacerbated by significant claims asserted by Honeywell against certain Garrett subsidiaries under the disputed subordinated asbestos indemnity and the tax matters agreement.”

On this news, Garrett’s stock price fell $3.04 per share, or over 44%, to close at $3.84 per share on August 26, 2020, thereby damaging investors.

On Sunday, September 20, 2020, Garrett announced that it had filed for Chapter 11 bankruptcy.

On Monday, September 21, 2020, the New York Stock Exchange (“NYSE”) announced that it would commence proceedings to delist Garrett’s stock from the NYSE after the Company’s disclosure that it had filed for bankruptcy.

On this news, Garrett’s stock began trading over-the-counter and closed at $1.76 per share on September 22, 2020, and over 12% decline from the closing price on September 18, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980