Market Newsdesk

December 3, 2020 7:25 am

Notice of Extraordinary General Meeting in Haldex Aktiebolag (publ)

The shareholders of Haldex Aktiebolag (publ) are hereby invited to attend the Extraordinary General Meeting to be held on 29 December 2020

PR Newswire

STOCKHOLM, Dec. 3, 2020 /PRNewswire/ — Due to the uncertain situation with the ongoing spread of the virus that causes COVID-19, the Board has decided that an Extraordinary General Meeting shall be held without the physical presence of shareholders, proxies or third parties, and that shareholders shall only be able to exercise their voting rights by postal vote before the meeting. Information on the decisions made by the Extraordinary General Meeting will be published on the company’s website on 29 December 2020, as soon as the outcome of the postal voting is finally compiled.

A. RIGHT TO ATTEND THE GENERAL MEETING

Shareholders who wish to attend the general meeting must

i. be included in its own name in the share register maintained by Euroclear Sweden AB, as of 17 December 2020, and

ii. cast their postal vote in accordance with the instructions below no later than on 28 December 2020.

Shareholders who have their shares nominee registered through a bank or other broker must have their shares owner-registered with Euroclear Sweden AB. Such registration must be completed by 21 December 2020. The registration may be temporary.

Shareholders may only exercise their voting rights at the meeting by voting in advance through digital postal voting. Shareholders must use a digital form to vote which will be available at the company’s website, https://www.haldex.com/sv/corporate. The form must be submitted by 28 December 2020. Shareholders who exercise their voting rights by postal voting do not need to register specifically for the meeting, the submitted voting form will be considered a notification.

If a shareholder submits as postal vote by proxy, a power of attorney must be attached to the form. If the shareholder is a legal entity, a registration certificate or another authorisation document must be attached to the form. Further information and instructions can be found on the on the form itself. A proxy form for shareholders who wish to vote by proxy are available on the company’s website, https://www.haldex.com/sv/corporate.

B. AGENDA

Proposal for agenda

Opening of the Extraordinary General Meeting and election of Chairman of the meeting.
Drawing up and approval of the voting list.
Election of two persons to attest the minutes.
Determination of whether the Extraordinary General Meeting has been properly convened.
Approval of the agenda.
Election of two additional board members.
Closing of the Extraordinary General Meeting.

Proposal for resolution

Election of Chairman of the meeting (item 1)

The Board of Directors proposes that the Chairman of the Board, Stefan Charette, is elected Chairman of this Extraordinary General Meeting.

Establishment and approval of the voting list (item 2)

The Board of Directors proposes that the General Meeting approve the voting list prepared by the company based on the share register and the votes received, checked by the persons attesting the minutes.

Election of adjusters (item 3)

The Board of Directors proposes that two persons are appointed to attest the minutes and that Patricia Hedelius, representing AMF Pensionsförsäkring AB and Anders Algotsson, representing AFA Sjukförsäkrings AB are appointed.

Election of two additional board members (item 6)

AFA Sjukförsäkrings AB, AMF Pensionsförsäkring AB, Athanase Industrial Partner and Fjärde AP-fonden have announced to the company’s Board of Directors their joint proposal to appoint two more members to the company’s board.

Proposed as additional members are Detlef Borghardt and Dzeki Mackinovski. The Board currently consists of five members elected by the Annual General Meeting, and will if the proposal is accepted, consist of a total of seven elected board members; Stefan Charette (Chairman), Helene Svahn (member and CEO), Viveka Ekberg, Håkan Karlsson, Catharina Modahl Nilsson, Detlef Borghardt and Dzeki Mackinovski.

A statement regarding the above-mentioned owners’ proposal will be published on the company’s website.

C. MISCELLANEOUS

Information at the meeting

Shareholders who wish to exercise their right to request information in accordance with Chapter 7, Section 32 of the Swedish Companies Act must submit a written request to Haldex AB, Att: Katarina Rönne, Box 507, SE-261 24 Landskrona, Sweden, or an email to [email protected] no later than 19 December 2020. Such information is available at the company and on the company’s website, and will be sent to the shareholders who has requested it no later than 24 December 2020.

Shares and votes

As per the day of this notice, the total number of shares and votes in Haldex amounts to 48 637 567. Haldex holds 11 705 shares in treasury as per the day of this notice.

Processing of personal data

For information on how personal data is processed in connection with the General Meeting, please see the integrity policy available on Euroclear Sweden AB:s website: https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf

Landskrona in December 2020

Haldex Aktiebolag (publ)

The board of directors

For further information, please visit, https://www.haldex.com/sv/corporate, or contact

Helene Svahn, President & CEO
E-mail: [email protected]
Phone: +46 418-47 60 00

This information is information that Haldex AB (publ) is obliged to make public pursuant to NASDAQ Stockholm’s Rule book for Issuers. The information was submitted for publication, through the agency of the above-mentioned contact person, on 3 December, 2020 at 13.00 CET.

About Haldex

Over 100 years of powerful innovation gives Haldex unsurpassed expertise when it comes to braking systems and air suspension systems for heavy trucks, trailers and buses. We live and breathe our business with the goal to deliver robust and technically superior solutions which is founded in a deep insight in our customer’s reality. Through focusing on our core competences and the passion we all share, we achieve the agility and flexibility that the market demands. Innovative collaborations aren’t only the core of our products, but our philosophy. Our 2200 employees, spread out across four continents, challenge the conventional on a daily basis in order to secure that the products we deliver create a unique value to our customers and the end users. We are listed on Nasdaq Stockholm and have a turnover of approx. 5 billion SEK.

This document is an unofficial translation of the Swedish original thereof. In the event of any discrepancies between the versions, the Swedish version shall prevail.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/haldex/r/notice-of-extraordinary-general-meeting-in-haldex-aktiebolag–publ-,c3248569

The following files are available for download:

https://mb.cision.com/Main/1432/3248569/1343745.pdf

Notice of Extraordinary General Meeting in Haldex Aktiebolag (publ)

View original content:http://www.prnewswire.com/news-releases/notice-of-extraordinary-general-meeting-in-haldex-aktiebolag-publ-301185646.html

SOURCE Haldex

December 3, 2020 7:21 am

Prasaga Launches First Blockchain Operating System

eXtensible Blockchain Object Model (XBOM) now on HyperLedger

Las Vegas, NV, Dec. 03, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) Prasaga LLC, has launched its testnet of the eXtensible Blockchain Object Model on HyperLedger Fabric available on XBOM.IO. XBOM is an object oriented GlobalOS for HyperLedger. XBOM’s foundational architecture is the same system used in today’s leading Operating Systems: Windows and MacOS X. XBOM is a forward leap for blockchain, just as the introduction of Windows was as a replacement for MS-DOS.

“Your phone, your computer, and your smartwatch all have operating systems that make it easy to develop for and to use,” said Michael Holdmann, Founder & CEO of Prasaga. “Easy is good. But the blockchain is anything but easy. We need the blockchain to be easy. Easy to use. Easy to develop for. XBOM makes it easy to develop for and to use the blockchain.”

“With XBOM, developers build applications with the object-oriented programming model, and XBOM provides an infrastructure serving them,” said K.C. Tam, Educator/Writer/Blockchain Consultant. “The infrastructure, called the Class Manager Infrastructure, then interacts with the underlying infrastructure, which, in this case, is a fabric network. Theoretically the developer does not care about the blockchain, as it is well handled by the infrastructure. This is the reason XBOM is positioned as a “Decentralized GlobalOS,” like an operating system on top of the blockchain.”^[*]

XBOM provides the advantage for the ability to load code dynamically without having to restart the Hyperledger Fabric chain, enablement of many to many supply chain relationships and allow reuse of code. In supply chain applications, suppliers with multiple OEM’s/Manufacturers requiring proprietary supply chain environments can use the same backend across all, significantly reducing operation costs to the lower tier companies.

About Prasaga

Prasaga is a Foundation-based organization and the creator the DataGrid Blockchain, a new native chain and coin project, embracing developers, miners, and token holders.

About Hyperledger Foundation

Hyperledger, an open source collaborative effort hosted by The Linux Foundation, created to advance cross-industry blockchain technologies. It is a permissioned environment that is used by Oracle, IBM and others as the primary technology in their respective blockchain platforms.

^[*] First Attempt in XBOM (eXtensible Blockchain Object Model)

Contact:

Jay Moore
Co-Founder / CMO
Prasaga LLC
541-543-3963
[email protected]

December 3, 2020 7:18 am

The Michaels Companies Announces Third Quarter Fiscal 2020 Results

The Michaels Companies Announces Third Quarter Fiscal 2020 Results

Net Sales increase of 15.1% to $1.406 billion; Comparable Store Sales increase of 16.3%; including e-commerce growth of 128.0%
Operating Income increase of 161.6% to $199.0 million; Adjusted Operating Income increase of 71.7% to $201.6 million
Net Cash Flow from Operations of $413.1 million for the quarter; Free Cash Flow of $380 million for the quarter and $633 million on a year-to-date basis
Company announces special bonus to be paid in the fourth quarter for team members totaling approximately $10 million

IRVING, Texas–(BUSINESS WIRE)–
The Michaels Companies, Inc. (NASDAQ: MIK) today announced financial results for the third quarter fiscal 2020 ended October 31, 2020.

Ashley Buchanan, Michaels Chief Executive Officer commented, “Michaels delivered strong third quarter results highlighted by comparable store sales growth of 16.3%, which was driven by robust consumer demand, improved retail execution and continued progress against our strategic initiatives. Our expanded omni channel capabilities, Maker-centric branding, and increasingly personalized marketing resonated well with customers. We also benefited from progress we made on our ongoing efforts around strategic inventory management, streamlined store operations and a disciplined approach to pricing and promotions. Importantly, we strengthened our balance sheet by paying down $150 million in debt and increased our financial flexibility by refinancing and significantly extending the maturity of our term loan.”

Mr. Buchanan added, “Our Maker strategy underpins the work we are doing to innovate and elevate the customer experience as we transform Michaels into a leading omnichannel specialty retailer. We have strengthened our core business and put Michaels in a much stronger position today – operationally, financially, and strategically – than at the start of this year and I would like to extend my gratitude to every single Michaels team member whose hard work has enabled these results. While the operating environment continues to evolve, we look forward to building on our progress as we continue to drive toward sustainable growth over the long term.”


	13 Weeks Ended October 31, 2020	13 Weeks Ended November 2, 2019	39 Weeks Ended October 31, 2020	39 Weeks Ended November 2, 2019
Net Sales	$1,406.2M	$1,222.0M	$3,354.3M	$3,349.4M
Comp. Store Sales	16.3%	(2.2%)	0.6%	(1.7%)
Operating Income	$199.0M	$76.0M	$191.5M	$240.1M
Net Income	$111.1M	$28.7M	$39.9M	$90.9M
Diluted Earnings per Share	$0.74	$0.19	$0.27	$0.58
Adjusted Operating Income¹	$201.6M	$117.4M	$246.6M	$294.0M
Adjusted Net Income ¹	$129.3M	$60.1M	$97.7M	$138.7M
Adjusted Diluted Earnings per Share¹	$0.86	$0.40	$0.66	$0.89

¹See additional information in this release for a reconciliation of non-GAAP financial measures to the respective GAAP measures.

Key Highlights

Michaels delivered a 16.3% increase in third quarter comparable store sales, driven by strong demand in both stores and e-commerce.
Third quarter e-commerce growth of more than 128% year over year was driven by enhanced and expanded omnichannel capabilities including curbside pick-up, same day delivery, ship from store, buy online, pick-up in store, or BOPIS, in-app purchases and more. Year-to-date e-commerce growth totaled 249%.
Improved capital structure with successful refinancing of term loan, extending maturity dates to 2027 and $150 million in debt pay down.

Third Quarter Fiscal 2020 (13 weeks ended October 31, 2020):

The 15.1% increase in sales for the third quarter of fiscal 2020 compared to the same period in the prior year was due to a 16.3% increase in comparable store sales and sales related to additional stores opened (net of closures) since the end of the third quarter of fiscal 2019, partially offset by a sales decline due to the closure of our wholesale business.
Operating income was $199.0 million, an increase of 162% when compared to operating income of $76.0 million in the third quarter of fiscal 2019. Adjusted operating income for the third quarter of fiscal 2020 increased 72% to $201.6 million from $117.4 million in the third quarter of fiscal 2019. A full reconciliation of adjusted operating income is available within the tables of this press release.

Balance sheet and liquidity highlights:

The Company generated $380 million in free cash flow (defined as cash flow from operating activities less capital expenditures) during the third quarter and $633 million on a year-to-date basis.
The Company ended the third quarter of fiscal 2020 with a cash balance of $852 million and full access to an undrawn revolving credit facility.

Special Bonus for Team Members:

The company announced that during the fourth quarter it will pay approximately $10 million in one-time holiday bonuses to both full-time and part-time team members as a thank you for their extraordinary work this year during unprecedented times.

Mr. Buchanan commented, “We want to show our gratitude to all of our team members who have continued to deliver incredible customer service and are a critical element to our ongoing success this year during such trying times for our communities.”

Outlook:

Given the continued uncertainty due to the COVID-19 pandemic, including a dynamic and uncertain outlook for consumer spending patterns and associated government policies, the Company is not providing any formal guidance at this time.

Conference Call Information

A conference call to discuss second quarter financial results is scheduled for today, December 3, 2020, at 8:00 am Central Time. Investors who would like to join the conference call are encouraged to pre-register for the conference call using the following link: https://dpregister.com/sreg/10149320/dbb27dd898. Callers who pre-register will be given a phone number and a unique PIN to bypass the live operator and gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time. Investors without internet access or who are unable to pre-register can join the call by dialing (844) 340-4762 or (412) 717-9617.

A live webcast of the conference call, together with certain supplemental presentation materials, will be available online at http://investors.michaels.com/. To listen to the live call, please go to the website at least 15 minutes before the call is scheduled to begin to register and download any necessary audio software. The webcast will be accessible for 3 months after the call. Additionally, a telephone replay will be available until December 19, 2020, by dialing (877) 344-7529 or (412) 317-0088, access code 10149320.

Non-GAAP Information

This press release includes non-GAAP measures including adjusted operating income, adjusted net income, adjusted diluted earnings per share, EBITDA and adjusted EBITDA. The Company has reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures in a table accompanying this release. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company’s business and facilitate a meaningful evaluation of its quarterly and fiscal 2020 results on a comparable basis with its quarterly and fiscal 2019 results.

The Company has provided this information as a means to evaluate the results of its ongoing operations. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. The Company’s presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by any such adjustments. Other companies in the Company’s industry may calculate these items differently than it does.

Forward-Looking Statements

This news release includes forward-looking statements which reflect management’s current views and estimates regarding the Company’s industry, business strategy, goals, and expectations concerning its market position, future operations, including with respect to liquidity and capital resources, the introduction of new capabilities, our ability to navigate the COVID-19 pandemic and the opening of stores following temporary closures, expected costs of the closure of Darice operations and other financial and operating information. The words “anticipate”, “assume”, “believe”, “continue”, “could”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “imply”, “intend”, “may”, “outlook”, “plan”, “potential”, “predict”, “project”, and similar terms and phrases are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to risks relating to the effect of the adverse effect of the ongoing COVID-19 outbreak; economic uncertainty; substantial changes to fiscal and tax policies; our reliance on foreign suppliers; regulatory changes; the seasonality of our business; changes in customer demand; damage to the reputation of the Michaels brand or our private and exclusive brands; unexpected or unfavorable consumer responses to our promotional or merchandising programs; our failure to adequately maintain security and prevent unauthorized access to electronic and other confidential information; increased competition including internet-based competition from other retailers; the impact of tariffs on certain products that we import from China and other risks and uncertainties including those identified under the heading “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, each of which are filed with the Securities and Exchange Commission (“SEC”) and available at www.sec.gov, and other filings that the Company may make with the SEC in the future. If one or more of these risks or uncertainties materialize, or if any of the Company’s assumptions prove incorrect, the Company’s actual results may vary in material respects from those projected in these forward-looking statements.

Any forward-looking statement made by the Company in this news release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

About The Michaels Companies, Inc.:

The Michaels Companies, Inc. is North America’s largest specialty provider of arts, crafts, framing, floral, wall décor, and seasonal merchandise for Makers and do-it-yourself home decorators. The Company operates more than 1,272 Michaels stores in 49 states and Canada. Additionally, the Company serves customers through digital platforms including Michaels.com and Canada.michaels.com. The Michaels Companies, Inc., also owns Artistree, a manufacturer of high-quality custom and specialty framing merchandise. For a list of store locations or to shop online, visit www.michaels.com or download the Michaels app.



The Michaels Companies, Inc.
Consolidated Statements of Comprehensive Income
(Unaudited)

	13 Weeks Ended						39 Weeks Ended
	October 31,			November 2,			October 31,				November 2,
(in thousands, except per share data)	2020			2019			2020				2019
Net sales	$	1,406,212		$	1,222,021		$	3,354,270			$	3,349,430
Cost of sales and occupancy expense		824,496			780,387			2,208,220				2,123,171
Gross profit		581,716			441,634			1,146,050				1,226,259
Selling, general and administrative		373,193			322,807			943,587				933,478
Restructure and impairment charges		9,388			41,376			9,388				48,332
Store pre-opening costs		184			1,402			1,528				4,370
Operating income		198,951			76,049			191,547				240,079
Interest expense		37,370			38,781			112,233				116,274
Losses on early extinguishments of debt and refinancing costs		22,044			161			22,044				1,316
Other expense (income), net		131			78			(1,426	)			2,931
Income before income taxes		139,406			37,029			58,696				119,558
Income taxes		28,284			8,324			18,836				28,615
Net income	$	111,122		$	28,705		$	39,860			$	90,943

Other comprehensive income, net of tax:
Foreign currency and cash flow hedges		3,910			1,230			(1,466	)			(8,358	)
Comprehensive income	$	115,032		$	29,935		$	38,394			$	82,585

Earnings per common share:
Basic	$	0.75		$	0.19		$	0.27			$	0.58
Diluted	$	0.74		$	0.19		$	0.27			$	0.58
Weighted-average common shares outstanding:
Basic		147,402			150,877			147,188				155,299
Diluted		150,292			150,925			148,796				155,342

The following table sets forth the percentage relationship to net sales of each line item of our unaudited consolidated statements of comprehensive income:
		13 Weeks Ended						39 Weeks Ended
		October 31,			November 2,			October 31,				November 2,
		2020			2019			2020				2019
Net sales		100.0	%		100.0	%		100.0		%		100.0		%
Cost of sales and occupancy expense		58.6			63.9			65.8				63.4
Gross profit		41.4			36.1			34.2				36.6
Selling, general and administrative		26.5			26.4			28.1				27.9
Restructure and impairment charges		0.7			3.4			0.3				1.4
Store pre-opening costs		—			0.1			—				0.1
Operating income		14.1			6.2			5.7				7.2
Interest expense		2.7			3.2			3.3				3.5
Losses on early extinguishments of debt and refinancing costs		1.6			—			0.7				—
Other expense (income), net		—			—			—				0.1
Income before income taxes		9.9			3.0			1.7				3.6
Income taxes		2.0			0.7			0.6				0.9
Net income		7.9	%		2.3	%		1.2		%		2.7		%


The Michaels Companies, Inc.
Consolidated Balance Sheets
(Unaudited)

	October 31,			November 2,
(in thousands, except per share data)	2020			2019
ASSETS
Current Assets:
Cash and equivalents	$	851,996		$	118,387
Merchandise inventories		1,170,504			1,423,367
Prepaid expenses and other		69,663			73,223
Accounts receivable, net		24,232			26,968
Total current assets		2,116,395			1,641,945
Property and equipment, at cost		1,772,473			1,733,717
Less accumulated depreciation and amortization		(1,356,945	)		(1,301,785	)
Property and equipment, net		415,528			431,932
Operating lease assets		1,542,059			1,613,527
Goodwill		94,290			94,290
Other intangible assets, net		58,666			5,043
Deferred income taxes		18,825			38,075
Other assets		17,558			20,267
Total assets	$	4,263,321		$	3,845,079

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities:
Accounts payable	$	895,200		$	658,182
Accrued liabilities and other		452,669			374,120
Current portion of operating lease liabilities		321,868			303,023
Current portion of long-term debt		16,700			24,900
Income taxes payable		48,064			22,520
Total current liabilities		1,734,501			1,382,745
Long-term debt		2,483,702			2,649,756
Long-term operating lease liabilities		1,314,987			1,374,555
Other liabilities		120,061			69,853
Total liabilities		5,653,251			5,476,909

Stockholders’ Deficit:
Common Stock, $0.06775 par value, 350,000 shares authorized; 147,546 shares issued and outstanding at October 31, 2020; 146,770 shares issued and outstanding at November 2, 2019.		9,908			9,850
Additional paid-in-capital		22,956			1,245
Accumulated deficit		(1,398,497	)		(1,620,009	)
Accumulated other comprehensive loss		(24,297	)		(22,916	)
Total stockholders’ deficit		(1,389,930	)		(1,631,830	)
Total liabilities and stockholders’ deficit	$	4,263,321		$	3,845,079


The Michaels Companies, Inc.
Consolidated Statements of Cash Flows
(Unaudited)

	39 Weeks Ended
	October 31,			November 2,
(in thousands)	2020			2019
Cash flows from operating activities:
Net income	$	39,860		$	90,943
Adjustments to reconcile net income to net cash provided by operating activities:
Non-cash operating lease expense		241,040			244,258
Depreciation and amortization		95,382			94,025
Share-based compensation		19,759			18,664
Debt issuance costs amortization		2,757			3,509
Loss on write-off of investment		—			5,036
Accretion of long-term debt, net		480			(195	)
Restructure and impairment charges		9,388			48,332
Impairment of intangible assets		3,500			—
Deferred income taxes		(289	)		(9,984	)
Gain on sale of building		(101	)		—
Losses on early extinguishments of debt and refinancing costs		22,044			1,316
Changes in assets and liabilities:
Merchandise inventories		(74,009	)		(316,220	)
Prepaid expenses and other		(7,377	)		(14,445	)
Accounts receivable		13,368			30,684
Other assets		790			(4,728	)
Operating lease liabilities		(207,334	)		(225,951	)
Accounts payable		414,286			162,222
Accrued interest		11,217			8,441
Accrued liabilities and other		97,539			(10,471	)
Income taxes		3,660			(18,318	)
Other liabilities		26,900			(751	)
Net cash provided by operating activities		712,860			106,367

Cash flows from investing activities:
Additions to property and equipment		(79,545	)		(89,632	)
Proceeds from sale of building		875			—
Net cash used in investing activities		(78,670	)		(89,632	)

Cash flows from financing activities:
Common stock repurchased		(1,103	)		(107,908	)
Payments on term loan credit facility		(541,775	)		(18,675	)
Payment of 2020 senior subordinated notes		—			(510,000	)
Issuance of senior notes		—			500,000
Issuance of senior secured notes		375,000			—
Borrowings on asset-based revolving credit facility		600,000			11,100
Payments on asset-based revolving credit facility		(600,000	)		(11,100	)
Payment of debt refinancing costs		(24,267	)		(8,158	)
Proceeds from stock options exercised		105			506
Other financing activities		(118	)		—
Net cash used in financing activities		(192,158	)		(144,235	)

Net change in cash and equivalents		442,032			(127,500	)
Cash and equivalents at beginning of period		409,964			245,887
Cash and equivalents at end of period	$	851,996		$	118,387


The Michaels Companies, Inc.
Reconciliation of Adjusted EBITDA
(Unaudited)

	13 Weeks Ended						39 Weeks Ended
	October 31,			November 2,			October 31,			November 2,
(in thousands)	2020			2019			2020			2019
Net cash provided by operating activities	$	413,111		$	108,475		$	712,860		$	106,367
Non-cash operating lease expense		(79,498	)		(81,397	)		(241,040	)		(244,258	)
Depreciation and amortization		(31,292	)		(31,295	)		(95,382	)		(94,025	)
Share-based compensation		(6,571	)		(6,658	)		(19,759	)		(18,664	)
Debt issuance costs amortization		(875	)		(970	)		(2,757	)		(3,509	)
Loss on write-off of investment		—			—			—			(5,036	)
Accretion of long-term debt, net		(349	)		(67	)		(480	)		195
Restructure and impairment charges		(9,388	)		(41,376	)		(9,388	)		(48,332	)
Impairment of intangible assets		—			—			(3,500	)		—
Deferred income taxes		(2,690	)		10,023			289			9,984
Gain on sale of building		—			—			101			—
Losses on early extinguishments of debt and refinancing costs		(22,044	)		(161	)		(22,044	)		(1,316	)
Changes in assets and liabilities		(149,282	)		72,131			(279,040	)		389,537
Net income		111,122			28,705			39,860			90,943
Interest expense		37,370			38,781			112,233			116,274
Income taxes		28,284			8,324			18,836			28,615
Depreciation and amortization		31,292			31,295			95,382			94,025
Interest income		(144	)		(297	)		(1,426	)		(2,012	)
EBITDA		207,924			106,808			264,885			327,845
Adjustments:
COVID-19 expense ⁽¹⁾		632			—			19,158			—
Losses on early extinguishments of debt and refinancing costs		22,044			161			22,044			1,316
Share-based compensation		6,571			6,658			19,759			18,664
Restructure and impairment charges		9,388			41,376			9,388			48,332
Darice liquidation charges		(6,775	)		—			45,711			—
Severance costs		667			1,683			5,537			5,175
Store pre-opening costs		184			1,402			1,528			4,370
Store remodel costs		1,226			174			1,675			242
Foreign currency transaction losses (gains), net		8			192			(322	)		659
Store closing costs		96			478			907			(469	)
Consulting costs		9,240			—			14,149			—
CEO severance costs		—			—			—			5,569
Other⁽²⁾		1,981			1,788			7,644			4,489
Adjusted EBITDA	$	253,186		$	160,720		$	412,063		$	416,192

⁽¹⁾ Includes costs attributable to the COVID-19 pandemic including hazard pay for team members, costs associated with furloughed employees, certain inventory charges and sanitation supplies.
⁽²⁾Other adjustments primarily relate to items such as moving and relocation expenses, franchise taxes, sign-on bonuses, director’s fees, search costs and the support center move.


The Michaels Companies, Inc.
Reconciliation of GAAP basis to Adjusted operating income, Adjusted net income and Adjusted earnings per share
(Unaudited)

	13 Weeks Ended						39 Weeks Ended
	October 31,			November 2,			October 31,			November 2,
(In thousands, except per share)	2020			2019			2020			2019
Operating income	$	198,951		$	76,049		$	191,547		$	240,079
Restructure and impairment charges (a)		9,388			41,376			9,388			48,332
Darice liquidation (income) charges (b)		(6,775	)		—			45,711			—
CEO severance costs		—			—			—			5,569
Adjusted operating income	$	201,564		$	117,425		$	246,646		$	293,980

Net income	$	111,122		$	28,705		$	39,860		$	90,943
Restructure and impairment charges (a)		9,388			41,376			9,388			48,332
Darice liquidation (income) charges (b)		(6,775	)		—			45,711			—
CEO severance costs		—			—			—			5,569
Write-off of investment (c)		—			—			—			5,036
Losses on early extinguishments of debt and refinancing costs		22,044			161			22,044			1,316
Interest on 2020 senior subordinated notes (d)		—						—			1,748
Tax adjustment for above items (e)		(6,489	)		(10,139	)		(19,348	)		(14,232	)
Adjusted net income	$	129,290		$	60,103		$	97,655		$	138,712

Earnings per common share, diluted	$	0.74		$	0.19		$	0.27		$	0.58
Restructure and impairment charges (a)		0.06			0.27			0.06			0.31
Darice liquidation (income) charges (b)		(0.05	)		—			0.31			—
CEO severance costs		—			—			—			0.04
Write-off of investment (c)		—			—			—			0.03
Losses on early extinguishments of debt and refinancing costs		0.15			—			0.15			0.01
Interest on 2020 senior subordinated notes (d)		—			—			—			0.01
Tax adjustment for above items (e)		(0.04	)		(0.07	)		(0.13	)		(0.09	)
Adjusted earnings per common share, diluted	$	0.86		$	0.40		$	0.66		$	0.89

(a) Fiscal 2020 excludes impairment of operating lease assets and leasehold improvements related to the relocation of our support center. Fiscal 2019 excludes 2019 exclude charges related to the closure of our Pat Catan’s stores and impairment charges recorded as a result of lower than expected operating performance in our wholesale business.
(b) Excludes (income) charges related to the closure of the Darice wholesale business.
(c) Excludes the write-off of an investment in a liquidated business.
(d) Excludes interest paid on our 2020 Senior Subordinated notes during the period between the issuance of our 2027 Senior Notes and when the proceeds from that issuance were used to redeem the 2020 Senior Subordinated Notes.
(e) Adjusts for the tax impact of the restructure and impairment charges, the Darice liquidation (income) charges, the CEO severance costs, the write-off of an investment in a liquidated business, early extinguishments of debt and refinancing costs and interest on a portion of our 2020 senior subordinated notes.


The Michaels Companies, Inc.
Summary of Operating Data
(Unaudited)


The following table sets forth certain of our unaudited operating data:
	13 Weeks Ended				39 Weeks Ended
	October 31,		November 2,		October 31,		November 2,
	2020		2019		2020		2019

Store open at beginning of period	1,275		1,262		1,274		1,258
New stores	1		13		6		21
Relocated stores opened	1		5		7		13
Closed stores	(3	)	(1	)	(7	)	(5	)
Relocated stores closed	(2	)	(5	)	(8	)	(13	)
Store open at end of period	1,272		1,274		1,272		1,274



Other Operating Data:
Average inventory per store (in thousands)	$ 916		$ 1,069		$ 916		$ 1,069
Comparable store sales	16.3	%	(2.2	)%	0.6	%	(1.7	)%
Comparable store sales, at constant currency	16.3	%	(2.1	)%	0.8	%	(1.4	)%

View source version on businesswire.com: https://www.businesswire.com/news/home/20201203005319/en/

Investor Contact:

Jim Mathias

972.409.1393

[email protected]

ICR, Inc.

Farah Soi

203.682.8200

[email protected]

Financial Media Contact:

ICR, Inc.

Jessica Liddell/ Julia Young

203.682.8200

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Home Goods Retail Specialty

MEDIA:

Logo

December 3, 2020 7:18 am

Avricore’s HealthTab Expands North With Oak Medical Arts

VANCOUVER, British Columbia, Dec. 03, 2020 (GLOBE NEWSWIRE) — Avricore Health Inc. (TSXV: AVCR, OTC: AVCRF) (“Avricore Health” or the “Company”) is pleased to announce it will be placing its real-time reporting HealthTab™ systems in Oak Medical Art’s community pharmacy locations, bringing advanced point of care testing to Canada’s North for the first time.

“HealthTab™ offers affordable screening solutions to communities where it just wasn’t possible before,” said Avricore Health’s CEO, Hector Bremner. “We think that everyone deserves access to healthcare data we’re so happy to officially reach Canada’s north!”

Pharmacies agree to a two-year lease commitment, as well as the purchase of reagent panels and other consumables from the Company. De-identified, statistical data can also be monetized, presenting additional revenue streams for the Company.

“Oak Medical Arts prides itself on innovation and putting patients at the center of everything we do,” said Bryan Gray, Director of Oak Medical Arts. “By offering point-of-care testing to better understand our patient needs, we can deliver better service and support better health outcomes.”

About HealthTab™
+ RASTR

HealthTab™ is a proven point-of-care screening system, designed to support pharmacists’ evolving role. The system empowers patients to be proactive about their health by directly measuring and monitoring key safety tests and biomarkers of chronic disease. The HealthTab™ test is simple, fast, lab-accurate, and requires just a few drops of blood from a finger stick. Results can be printed in-store or accessed securely online.

Typically, HealthTab™ utilizes the Piccolo Xpress, an Abaxis Global Diagnostics chemistry analyzer, however, the system is designed to interface with other devices and third-party applications.

As part of this direction for HealthTab™, the Company developed a revolutionary model for utilizing the system’s unique ability to offer real-time evaluations of treated populations and even real-world evaluation clinical trials.

The name for this approach is Rapid Access Safety Test Reporting, or RASTR Network, whereby the network of HealthTab™ systems feedback de-identified data through to electronic health records and data management systems via its API capabilities. This is the first platform of harmonized analyzers, with fully integrated data-flow, for blood chemistry results to be sent to consumers, their healthcare teams and sponsors, such as researchers, insurance providers and the life-science sector.

The significance of this approach to the market is the enhanced access to screening and early detection of disease, better data for physicians and pharmacists to support their patients, plus new opportunities to conduct research and ensure patient safety.

About Avricore Health Inc.

Avricore Health Inc. is committed to becoming a health innovator and applying technologies at the forefront of science to core health issues at the community pharmacy level. The Company’s goal is to empower consumers, patients and pharmacists with innovative technology, products, services and information to monitor and optimize health. www.avricorehealth.com

Contact:

Hector Bremner, CEO 604-773-8943
[email protected]
www.avricorehealth.com

Cautionary Note Regarding Forward-Looking Statements

Information in this press release that involves Avricore Health’s expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Avricore Health generally uses words such as “outlook,” “will,” “could,” “would,” “might,” “remains,” “to be,” “plans,” “believes,” “may,” “expects,” “intends,” “anticipates,” “estimate,” “future,” “positioned,” “potential,” “project,” “remain,” “scheduled,” “set to,” “subject to,” “upcoming,” and similar expressions to help identify forward-looking statements. In this press release, forward-looking statements include statements regarding: the completion of the placement and the expected timing thereof and the Company’s expected use of proceeds from the placement; the unique features that the HealthTab™ platform offers to pharmacists and patients. Forward-looking statements reflect the then-current expectations, beliefs, assumptions, estimates and forecasts of Avricore Health’s management. The forward-looking statements in this press release are based upon information available to Avricore Health as of the date of this press release. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Avricore Health and are subject to a number of risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations, including without limitation: failure to meet regulatory requirements; changes in the market; potential downturns in economic conditions; and other risk factors described in Avricore’s public filings. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

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.

December 3, 2020 7:13 am

IMV’s Survivin-Targeted T Cell Therapy Shows Durable Clinical Benefits in Phase 2 Study in Patients with Hard-to-Treat Advanced Recurrent Ovarian Cancer

IMV’s Survivin-Targeted T Cell Therapy Shows Durable Clinical Benefits in Phase 2 Study in Patients with Hard-to-Treat Advanced Recurrent Ovarian Cancer

37% (7/19) patients experienced clinical benefits lasting over 6 months

12-month overall survival rate of 66.1%

Translational data confirms survivin-specific CD8+ T cell immune response in 87% of subjects which supports a direct link with DPX-Survivac’s mechanism of action

DARTMOUTH, Nova Scotia–(BUSINESS WIRE)–
IMV Inc. (Nasdaq: IMV; TSX: IMV), a clinical-stage biopharmaceutical company pioneering a novel class of targeted cancer immunotherapies and vaccines against infectious diseases, today reports updated clinical and translational data from DeCidE1, its Phase 2 clinical study evaluating the safety and efficacy of DPX-Survivac with intermittent low-dose cyclophosphamide (CPA) in patients with recurrent, advanced platinum-sensitive and platinum-resistant ovarian cancer.

Results from the ongoing study continue to demonstrate prolonged clinical benefits, alongside favorable tolerability, and translational data linking the observed clinical benefits with DPX-Survivac’s mechanism of action.

“IMV’s targeted T cell therapy continues to elicit a rapid and robust immune response with a demonstration that survivin-specific CD8+ T cells can infiltrate solid cancerous tumors. This could prove to be of significant interest considering that the narrowly focused action of cytotoxic CD8+ T cells allows them to kill single infected cells in tissue without creating widespread tissue damage,” declared Fred Ors, President and Chief Executive Officer of IMV.

“These results also clearly support the relevance of DPX-Survivac as a potential new and much-needed treatment option for advanced recurrent ovarian cancer, a hard-to-treat indication where other immunotherapies have thus far had limited success and where there is a high unmet medical need for patients who have failed chemotherapy and PARP inhibitors.”

“With these results, DPX-Survivac continues to exhibit significant and durable anti-tumor activity, paving the way for targeted T cell therapies in advanced recurrent ovarian cancer and other solid tumors.DPX-Survivac also continues to be well tolerated, which is especially meaningful compared to single-agent chemotherapy and other approaches in development,” added Joanne Schindler, M.D., D.V.M., Chief Medical Officer at IMV.

Updated Results from DeCidE1

As presented today, 19 patients were evaluable for efficacy and one patient (5%) remained on treatment. Notably, the majority of patients had received >3 lines of prior therapy and were resistant or refractory to their last platinum regimen. Key findings on the safety and efficacy of DPX-Survivac/CPA are outlined below:

15 patients (78.9%) showed clinical benefits: partial response (PR) or stable disease (SD)

Durable clinical benefits over 6 months were observed in 7 patients (37%):

5 patients (26.3%) demonstrated clinical benefit duration of approximately one year (11-16 months) with two patients still benefiting from treatment

Long tail progression free survival (PFS) was observed and consistent with immunotherapies in other cancer indications:

mPFS: 4.47 months

6-month PFS of 39%

12-month PFS of 20%

66.1% 12-month overall survival rate. As more than 50% of patients are still alive, the median overall survival (mOS) has not been reached

Overall, treatment was well-tolerated. The majority of treatment-related adverse events reported were Grade 1 events and related to reactions at the injection site.

Extensive translational analyses are ongoing on collected peripheral blood mononuclear cells (PBMC), tumor tissue and plasma. Results obtained so far link the observed clinical benefit with survivin-specific T cells, supporting DPX-Survivac’s unique mechanism of action.

Treatment generated a survivin-specific CD8+ T cell response in PBMC samples of 14/16 (87%) evaluable patients

Treatment-induced infiltration of survivin-specific T cell clones into the tumors as early as day 56 following treatment.

Live webcast and call this morning at 8.00am Eastern Time.

IMV will be hosting a key opinion leader (KOL) webcast on the treatment options in ovarian cancer and competitive landscape within the disease state later this morning at 8.00am Eastern Time.

The webcast will feature presentations by KOLs Oliver Dorigo, MD, PhD, and Jeannine Villella, DO, FACOG, FACS who will discuss the treatment options in ovarian cancer and the competitive landscape within the disease state. The KOLs will also provide an update on the ongoing Phase 2 trial with IMV’s novel T cell therapy in patients with advanced ovarian cancer, along with insights about the patients’ experience. Drs. Dorigo and Villella will be available to answer questions from financial analysts following the formal presentation.

IMV management will discuss trial results and their significance to DPX, the company’s delivery platform, as well its outlook on next steps.

To register for the webcast, please click here. A webcast of the presentation will be available under “Events, Webcasts and Presentations” in the investors section of IMV’s website and a replay will be available approximately one hour after the presentation. Afterwards, the replay will be available for approximately 30 days. Financial analysts are welcome to ask questions during the live Q&A and are invited to submit their request via email or will be able to do so live during the event.

About the DeCidE1 Study

“DeCidE1” is a Phase 2 multicenter, open-label study evaluating the safety and effectiveness of DPX-Survivac, with intermittent low-dose cyclophosphamide (CPA) used as an immunomodulator to increase the level of survivin-specific T cells. This Phase 2 arm enrolled 19 evaluable patients with recurrent, advanced platinum-sensitive and –resistant ovarian cancer. Except for one patient, all patients were in an advanced stage of the disease, and 12 patients had received 3 or more lines of prior therapy.

Patients received 2 subcutaneous injections of DPX-Survivac three weeks apart and every eight weeks thereafter, and intermittent low dose CPA one week on and one week off for up to 1 year. Paired tumor biopsies were performed prior to treatment and on treatment.

Primary endpoints of this study are overall response rate, disease control rate and safety. Secondary endpoints include cell mediated immunity, immune cell infiltration in paired biopsy samples, duration of response, time to progression, overall survival and biomarker analyses.

About DPX-Survivac

DPX-Survivac is the lead candidate in IMV’s new class of targeted immunotherapies designed to elicit antigen-specific functional, robust and sustained de novo T cell response. IMV believes this mechanism of action is key to generating durable solid tumor regressions. DPX-Survivac consists of five unique HLA-restricted survivin peptides formulated in IMV’s proprietary DPX drug delivery platform and known to induce a cytotoxic CD8+ T cell response against survivin expressing cancer cells.

Survivin, recognized by the National Cancer Institute (NCI) as a promising tumor-associated antigen, is broadly over-expressed in most cancer types and plays an essential role in antagonizing cell death, supporting tumor-associated angiogenesis and promoting resistance to chemotherapies. IMV has identified over 20 cancer indications in which survivin can be targeted by DPX-Survivac.

DPX-Survivac has received Fast Track designation from the U.S. Food and Drug Administration (FDA) as maintenance therapy in advanced ovarian cancer, as well as orphan drug designation status from the U.S. FDA and the European Medicines Agency (EMA) in the ovarian cancer indication.

About IMV

IMV Inc. is a clinical stage biopharmaceutical company dedicated to making immunotherapy more effective, more broadly applicable, and more widely available to people facing cancer and other serious diseases. IMV is pioneering a new class of cancer-targeted immunotherapies and vaccines based on the Company’s proprietary drug delivery platform. This patented technology leverages a novel mechanism of action that enables the programming of immune cells in vivo, which are aimed at generating powerful new synthetic therapeutic capabilities. IMV’s lead candidate, DPX-Survivac, is a T cell-activating immunotherapy that combines the utility of the platform with a target: survivin. IMV is currently assessing DPX-Survivac as a monotherapy in advanced ovarian cancer, as well as a combination therapy in multiple clinical studies with Merck. IMV is also developing a DPX-based vaccine to fight against COVID-19. Visit www.imv-inc.com and connect with us on Twitter and LinkedIn.

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements regarding the FDA potentially granting accelerated regulatory approval of DPX-Survivac and the timing of expected results from other DPX-Survivac’s studies with other tumor types. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Corporation, including access to capital, the successful design and completion of clinical trials and the receipt and timely receipt of all regulatory approvals. IMV Inc. assumes no responsibility to update forward-looking statements in this press release except as required by law. These forward-looking statements involve known and unknown risks and uncertainties and those risks and uncertainties include, but are not limited to, our ability to access capital, the successful and timely completion of clinical trials and studies, the receipt of all regulatory approvals and other risks detailed from time to time in our ongoing quarterly filings and annual information form Investors are cautioned not to rely on these forward-looking statements and are encouraged to read IMV’s continuous disclosure documents, including its current annual information form, as well as its audited annual consolidated financial statements which are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar

View source version on businesswire.com: https://www.businesswire.com/news/home/20201203005521/en/

Investor Relations

Marc Jasmin, Senior Director, Investor Relations, IMV Inc.

O: (902) 492-1819 ext : 1042

M: (514) 617-9481 E: [email protected]

Irina Koffler, Managing Director, LifeSci Advisors

O: (646) 970-4681

M: (917) 734-7387

E: [email protected]

Media

Delphine Davan, Director of Communications, IMV Inc.

M: (514) 698 1046

E: [email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Women Infectious Diseases Clinical Trials Biotechnology Health Consumer Pharmaceutical General Health Oncology

MEDIA:

Posted on December 3, 2020 7:10 am
ICL Announces Private Offering of Additional $93.1 Million Senior Notes

Additional offering part of same series as previously issued $600 million

PR Newswire

TEL AVIV, Israel, Dec. 3, 2020 /PRNewswire/ — ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals and specialty chemicals company, announced today the private placement offering of an additional $93.1 million aggregate principal amount of its 6.375% senior unsecured notes due 2038 to a qualified institutional buyer, at a price of $1.29 per $1.00 principal amount, resulting in total proceeds of about $120 million.

“We are pleased to have leveraged the current attractive market conditions to secure an additional $120 million of long-term debt at a 4% effective yield, as an expansion of our series F senior unsecured notes due in 2038,” said Kobi Altman, ICL’s CFO. “This is in addition to the action we took in the third quarter to solidify our financial strength, which included the renewal of our five-year $300 million securitization facility and the extension of our $900 million credit facility to 2025.”

The additional notes will be part of the same series as the previously issued $600 million aggregate principal amount of ICL’s 6.375% senior unsecured notes due 2038. The additional notes will have terms identical to the initial notes, except with respect to the date of issuance, the issue price, the initial interest accrual date and the initial interest payment date. The additional notes and the initial notes will be treated as a single class of securities under the indenture governing the notes, and an application has been made to list the additional notes on the system of the Tel Aviv Stock Exchange for trading by institutional investors, known as TACT Institutional.

ICL intends to use the net proceeds from the offering for general corporate purposes, which could include acquisitions, debt repayment, capital expenditures or investments.

About ICL

ICL Group LTD is a leading global specialty minerals and chemicals company that creates impactful solutions for humanity’s sustainability challenges in global food, agriculture, and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation to drive growth across its end markets. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs over 11,000 people worldwide, and its 2019 revenues totaled approximately $5.3 billion.

For more information, visit the company’s website at www.icl-group.com.

To access ICL’s interactive Corporate Social Responsibility report, please click here.

You can also learn more about ICL on Facebook, LinkedIn and Instagram

Forward-Looking Statements

This press release contains forward-looking statements as to ICL’s expectations concerning the offering, but actual results could vary based on conditions in the capital markets and other factors described under “Risk Factors” in ICL’s Annual Report on Form 20-F for the year ended December 31, 2019 and in subsequent filings on Current Reports on Form 6-K. We undertake no obligation to release publicly the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof, including, without limitation, changes in ICL’s business or acquisition strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events.

INVESTOR RELATIONS CONTACTS

PRESS CONTACT

Peggy Reilly Tharp

Dudi Musler

Or-li Kasuto Madmon

VP, Global Investor Relations

Director, Investor Relations

Scherf Communications

+1-314-369-3883

+972-3-684-4448

+972-52-4447750

[email protected]

[email protected]

[email protected]

View original content:http://www.prnewswire.com/news-releases/icl-announces-private-offering-of-additional-93-1-million-senior-notes-301185631.html

SOURCE ICL

Posted on December 3, 2020 7:10 am
Natural Grocers Predicts Top 10 Nutrition Trends For 2021

The company’s Nutrition Education experts forecast 2021 to be a year rooted in foundational health

PR Newswire

LAKEWOOD, Colo., Dec. 3, 2020 /PRNewswire/ — Today, Natural Grocers™, America’s Nutrition Education Experts^SM, announced the fifth annual Top 10 Nutrition Trends¹ predictions, a composite of the most anticipated and unexpected health, nutrition, and food trends for the coming year.

Natural Grocers, America’s Nutrition Education Experts, announced its fifth annual Top 10 Nutrition Trends for 2021.

Natural Grocers’ Nutrition Education team, made up of health and wellness experts ranging from Registered Dietitians to Certified Natural Foods Chefs, collaborated with the retailer’s buyers and analysts, studied consumer-shopping preferences, pored over the latest research, and scrutinized the impact COVID-19 has had on its communities in order to pinpoint their predictions.

“Our trends this year are dramatically different than previous years’ in that they’re far less fleeting. COVID-19 is a pandemic that sits on top of another pandemic in the United States of malnutrition and poor long-term health,” remarked Shelby Miller, MS, Natural Grocers’ Manager of Scientific Affairs and Nutrition Education. “Hence, 2021 holds broader trends that focus on improving nutrition to support our own health, as well as the health of our communities and our environment.”

Natural Grocers’ Top 10 Nutrition Trends® for 2021, which include getting back to the basics, immune-boosting strategies, The Climatarian and customized fitness nutrition, also offer “try this trend” tips for those who want to lean in to these trends in the coming months and beyond.

NATURAL GROCERS’ TOP 10 NUTRITION TRENDS FOR 2021:

Download hi-res images of Natural Grocers Top 10 Nutrition Trends

1.
Our Health Is D-pendent on Vitamin D
While there are many things in life outside of our control, knowing our vitamin D levels is a simple step we can all take to elevate our health and the health of our families—it is something you can own as a proactive tool to be rooted in health. This unique nutrient plays a critical role in whether or not your immune system functions sufficiently and responds as needed. It is essential for lung health, supporting positive moods, brain function, and cognition, a healthy weight, a healthy pregnancy, children’s health, healthy blood sugar levels, healthy blood pressure, bone health, and muscle tone. Between 40 and 80 percent of American adults are outright deficient in vitamin D, while approximately 90 percent have suboptimal levels. Achieving optimal levels (between 30 and 50 ng/mL) of vitamin D through supplementation is crucial to experiencing its full range of benefits. Because darker skin hampers the body’s ability to synthesize vitamin D from sunlight, supplementation is especially important for people of color. A national survey reported average serum vitamin D concentrations of 28.1 ng/mL, 21.6 ng/mL, and 16.9 ng/mL in Caucasian, Mexican American, and African American adults aged 20 years and older, respectively. Vitamin D is a nutrient all of us should be focused on, and we all need to know our levels, but this is especially important for those with darker complexions.

TRY THIS TREND: Talk to your doctor about vitamin D testing to know your levels and add a vitamin D supplement to your healthcare routine—supplementing is easy, affordable, and effective. Learn more about the many benefits of vitamin D.

2.
Everyday Immune Support for the Long Haul
Rather than trying to boost immunity when we’ve already fallen victim to whatever bug is going around, we have recognized the importance of “armoring up” and supporting our immune system on a daily basis so it can function optimally over the long haul. Dietary supplements make daily, long-term immune support so easy, and are backed by a mountain of research validating their health benefits. Boosting immune competence comes from nutrients you’re likely already familiar with: vitamin C, vitamin D, and zinc are three basics that are easy, affordable, and effective.

TRY THIS TREND: Nutrients like vitamin C, vitamin D, and zinc have loads of research supporting their immune benefits and are high-reward options.

3.
Better Blood Sugar Balance
A growing body of research is showing that SARS-CoV-2 utilizes sugar to reproduce and that individuals with type-2 diabetes are at a higher risk of hospitalization and complications from COVID-19. We know that supporting blood sugar balance is a key method to be rooted in health. And the good news? There are lots of ways to achieve healthy blood sugar balance.

Whatever your health goals are and wherever your starting line is, there are many options to support healthy blood sugar balance. Ideas include giving up sugar-sweetened beverages, eliminating added sugar by trying a seven-day, no-added-sugar detox, or even trying out the ketogenic (keto) diet. Adding supplements that support blood sugar balance to your routine can help too—for example, alpha lipoic acid (ALA) is well-known to support insulin sensitivity and glucose utilization. No matter which route is chosen, it’s certain that balancing blood sugar will result in better mood, more balanced energy levels, and overall long-term health.

TRY THIS TREND: An easy way to try this trend is with some simple snack swaps. Check out the Keto Cups by Eating Evolved with no added sugar. Our favorite are the almond butter cups. You’re welcome.

4.
De-Stressing in a Healthy Way (Without the Alcohol and Comfort-Food Eating)
2020 was messy in so many ways, and sometimes overwhelmed us with stress, but it also highlighted the importance of compassion and empathy. Compassion and empathy are crucial for helping us de-stress, and de-stressing is crucial for health. De-stressing is also remarkably beneficial for our immune health, as stress hormones like cortisol significantly impair our immune response. So, not only is de-stressing by offering compassion and empathy good for others, it’s also good for us, and in a meaningful way.

We can all de-stress in a healthy way in two simple steps: Step one is to give our bodies the nutrients to support their ability to better cope with stress. These include magnesium, EPA and DHA from fish oil, B vitamins, vitamin C, phosphatidylserine (PS), curcumin, and adaptogenic herbs like rhodiola. Step two is to practice compassion and empathy. There are numerous benefits to practicing compassion and empathy, especially during a global pandemic. In addition to helping us connect with others, being empathetic also helps us regulate our emotions in times of stress. You can build empathy by engaging meaningfully with others, being aware of other people’s needs, and being kind to others and yourself.

TRY THIS TREND: Call a loved one, wear a mask if you can, give a stranger a genuine compliment. It’s important to practice compassion and empathy this year, not only for others, but for yourself as well.

5.
Olive Oil Makes a Comeback
While coconut oil has had a well-deserved reign in the spotlight, 2021 will see olive oil making a comeback. Olive oil has always had a place in the “good fat” category, and for worthy reasons. This long-beloved oil has a well-known role in the health benefits of the Mediterranean diet—its noteworthy phenols and polyphenols contribute to its many nutrition superpowers, including its well-documented, anti-inflammatory activities.

TRY THIS TREND: Need proof of this as a trend in 2021? Look no further than the snack aisles where you’ll see olive oil chips, popcorn, and seaweed snacks.

6.
The Climatarian

Consumer research is showing that while personal health is still a major driver for buying organic, consumers are shifting to buying organic for environmental reasons. This has led to the coining of the term “climatarian,” an individual who is making food choices with the intention of changing how our food is grown—shifting from a chemical-intensive model to one that promotes soil health, biodiversity, and healthy ecosystems—an important way to address climate change.

TRY THIS TREND: The best way to align with this trend is to increase the amount of organic fruits and veggies in your diet. Fresh, canned, or frozen, any purchase of organic fruits and veggies is a vote for better human health, better soil health, better community health, and inevitably, better health for Mother Earth. Prioritizing regenerative/pasture-based meat and dairy products is another crucial method to make a significant difference in climate change.

7.
Affordable, Healthy Meals at Home
Most of us have been cooking at home more since the start of the coronavirus outbreak, and while many of us had fun exploring complicated new recipes, and did so much baking in the beginning we had baked goods for days, as the months passed and we realized we’re in this for the long haul, priorities shifted and now we’re on the search for easy meals that taste good, and are also affordable and healthy. Consumers are looking for quick and affordable solutions to cooking, meal planning, and meals that do not require a lot of prep. 2021 will pave the way to reinventing what cooking at home looks like, and Natural Grocers is leading the way with its good4u℠ Meal Deals—dinner and lunch ideas, with some breakfast offerings coming soon, to feed your family affordably with healthy and delicious foods.

TRY THIS TREND: Check out one of the many Natural Grocers’ good4u Meal Deals for healthy, delicious, easy, and affordable options for you and your family.

8.
Vegetables Will Be Front & Center
Over the years, nutrition advice has changed so much it’s led to more confusion than clarity about what and what not to eat, but one nutrition recommendation that has remained constant is that we all need to eat more vegetables. Produce in any form—canned, frozen, and fresh—provides what’s known as nutrient density. A nutrient dense food is something that packs loads of nutrition in the form of vitamins, minerals, and phytonutrients and plays a huge role in reducing our risk of chronic diseases. Veggies are some of the most nutrient dense foods out there, which is why they’ve remained a crucial part of diet recommendations, even amidst the whirlwind of changing nutrition advice. In 2021, as part of our effort to be rooted in health, we’ll make it a priority to try new veggies (ever tried leeks, heirloom tomatoes, or broccolini?), incorporate more produce-laden recipes into our repertoires, and discover new weekly staples that leave us feeling healthy and satisfied.

TRY THIS TREND: Check out naturalgrocers.com/recipes for veggie-centric recipe ideas. Print a produce calendar and aim to eat what’s in season.

9.
Get Back to the Basics to Be Rooted in Health
SARS-CoV-2 is a virus that thrives on poor health, and it has forced us to recognize just how unhealthy we are as a country. As we move into 2021, we will be going back to the basics to take control of—and actively improve—our health. It’s time to finally prioritize sleep, clean up our diets, make time for exercise and daily movement, and recognize the value of key, foundational supplements. It almost seems too simple. Yet, there’s no denying that by prioritizing our own health, we also support the overall health of our communities.

TRY THIS TREND: Introduce yourself to the Foundational 5 Supplements or book a free, virtual coaching session with your local Nutritional Health Coach (NHC) to help you figure out the best first steps.

10.
Customized Fitness Nutrition
With many people still avoiding gyms and group fitness studios, it’s given us the opportunity to not only perfect our at-home exercise routines, but to also optimize our workouts with real foods and targeted supplements. In 2021, we’ll see a decline in grab-and-go, post-workout foods and a rise in customized fitness nutrition and supplementation. Rather than grabbing a water and protein bar after our W.O.D. (work out of the day; don’t worry, we had to look it up too), in 2021 we will transition toward pairing whole, real foods with supplements that fuel movement and aid recovery. We will explore magnesium to support healthy muscle recovery, MCT oil to fuel more explosive workouts, collagen to support healthy joints and ligaments, beets and greens powders for healthy blood flow to muscles during our workouts, and a B-complex vitamin to keep us energized for our workouts.

TRY THIS TREND: Whether you prefer CrossFit, yoga, or something in between, try turmeric, a super nutrient that supports recovery, joint comfort, and immune health, or rhodiola, an adaptogenic herb that can increase energy and athletic performance, while reducing both mental and physical fatigue.

References available upon request.

About Natural Grocers by Vitamin Cottage
Natural Grocers by Vitamin Cottage, Inc. (NYSE: NGVC) is an expanding specialty retailer of natural and organic groceries, body care products and dietary supplements. The products sold by Natural Grocers must meet strict quality guidelines and may not contain artificial colors, flavors, preservatives or sweeteners, or partially hydrogenated or hydrogenated oils. The Company sells only USDA certified organic produce and exclusively pasture-raised, non-confinement dairy products, and free-range eggs. Natural Grocers’ flexible smaller-store format allows it to offer affordable prices in a shopper-friendly, safe and convenient retail environment. The Company also provides extensive free science-based nutrition education programs to help customers make informed health and nutrition choices. The Company, founded in 1955, has 160 stores in 20 states.

¹

The statements in this press release have not been evaluated by the Food and Drug Administration and are not intended to diagnose, treat, cure or prevent any disease.

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SOURCE Natural Grocers by Vitamin Cottage, Inc.

Posted on December 3, 2020 7:05 am
Cubic Board Member Named Director of the Year by Corporate Directors Forum

Cubic Board Member Named Director of the Year by Corporate Directors Forum

Cubic Independent Director Maureen Breakiron-Evans recognized for outstanding corporate governance and leadership

SAN DIEGO–(BUSINESS WIRE)–Cubic Corporation (NYSE:CUB) today announced its Independent Director Maureen Breakiron-Evans was named a recipient of the 2020 Director of the Year award for Corporate Governance by Corporate Directors Forum. Each year, the Corporate Directors Forum honors the top directors of San Diego companies for their leadership and performance in the boardroom. Honorees of the Director of the Year awards are nominated by their peers and selected based on their recent achievements.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201203005320/en/

Maureen Breakiron-Evans (Photo: Business Wire)

“On behalf of Cubic and our board, I would like to congratulate Maureen for her recognition as Director of the Year for Corporate Governance – we are so very proud to have her as part of our team,” said Bradley H. Feldmann, chairman, president and chief executive officer of Cubic Corporation. “Not only does Maureen bring extensive experience in technology, finance as well as risk management, but her oversight and guidance during the COVID-19 pandemic has been invaluable to our organization.”

“I am honored to receive the Director of the Year award from the Corporate Directors Forum,” said Breakiron-Evans. “Successful board leadership is not a result of one individual – it stems from teamwork. I am proud to serve alongside my board colleagues who are actively engaged in creating value for Cubic’s shareholders and ensuring the company continues to flourish for years to come.”

Since joining Cubic’s board in 2017, Breakiron-Evans has promoted high standards for corporate governance and effectively institutes governance practices for the company’s risk management. With a strong command of financial reporting and tax issues, she oversees Cubic’s financial reporting process as a member of the audit and compliance committee. As a member of Cubic’s technology strategy committee, Breakiron-Evans provides oversight for Cubic’s technology direction and cyber resilience initiatives.

Breakiron-Evans was honored at a virtual awards ceremony organized by the Corporate Directors Forum, which took place on December 2.

About Cubic Corporation

Cubic is a technology-driven, market-leading provider of integrated solutions that increase situational understanding for transportation, defense C4ISR, and training customers worldwide to decrease urban congestion and improve the militaries’ effectiveness and operational readiness. Our teams innovate to make a positive difference in people’s lives. We simplify their daily journeys. We promote mission success and safety for those who serve their nation. For more information about Cubic, please visit www.cubic.com or on Twitter @CubicCorp.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201203005320/en/

Media Contact

Crystal Nguyen

Corporate Communications

Cubic Corporation

PH: +1 858-505-2593

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Other Transport Public Transport Trucking Other Defense Rail Engineering Transport Manufacturing Defense

MEDIA:

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Maureen Breakiron-Evans (Photo: Business Wire)

Posted on December 3, 2020 7:04 am
Camtek to Participate in the Virtual 12th Annual CEO Investor Summit 2020

PR Newswire

MIGDAL HAEMEK, Israel, Dec. 3, 2020 /PRNewswire/ — Camtek Ltd. (NASDAQ: CAMT) and (TASE: CAMT), today announced that company management is scheduled to participate in the 12th Annual CEO Summit, being held virtually this year on Wednesday, December 16, 2020.

The presentation material utilized during the CEO Summit will be made accessible on the investor page of the company’s website prior to the event.

The Virtual CEO Summit is by invitation only and is open to accredited investors and publishing research analysts. Investors or analysts wishing to participate and meet virtually with Camtek’s management are welcome to contact the CEO Summit organizers or the investor relations team at Camtek.

About The 12^th Annual Virtual CEO Summit 2020

The CEO Summit is hosted by executive management from participating companies and will feature a virtual “round-robin” format consisting of small group meetings, each 40 minutes in duration. Each company will be available for up to six meeting slots during the conference, while investors and analysts will have the opportunity to meet with 12 of the participating management teams from 8:15a.m. until 5:15p.m. EST on December 16^th. In addition, each management team will present a pre-recorded company overview, which will be available to investors to view on the conference website approximately 24 hours in advance of the Summit.

The 16 management teams collectively hosting the 12^th Annual Virtual CEO Summit 2020 currently include:

ACM Research (ACMR), Advanced Energy Industries (AEIS), Aehr Test (AEHR), Alpha & Omega Semiconductor (AOSL), Axcelis (ACLS), Brooks Automation (BRKS), Camtek (CAMT), Cohu (COHU), Everspin Technologies (MRAM), FormFactor (FORM), Ichor Systems (ICHR), inTEST Corporation (INTT), Intevac (IVAC), Kulicke & Soffa (KLIC), Onto Innovation (ONTO) and Veeco Instruments (VECO). Intro-act is sponsoring the conference.

The Virtual CEO Summit is by invitation only and is open to accredited investors and publishing research analysts. As space is limited, please RSVP early. Hosts reserve the right to limit attendance as necessary. Advance registration and company meeting selection is required. Last day for registration is December 10, 2020. RSVP contacts are the CEO summit co-chairs, Laura J. Guerrant-Oiye ([email protected]) and Claire E. McAdams ([email protected]).

ABOUT CAMTEK LTD.

Camtek is a leading manufacturer of metrology and inspection equipment and a provider of software solutions serving the Advanced Packaging, Memory, CMOS Image Sensors, MEMS, RF and other segments in the mid end of the semiconductor industry.

Camtek provides dedicated solutions and crucial yield-enhancement data, enabling manufacturers to improve yield and drive down their production costs.

With eight offices around the world, Camtek has best-in-class sales and customer support organization, providing tailor-made solutions in line with customers’ requirements.

This press release is available at www.camtek.com

This press release contains statements that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Camtek Ltd. (“we,” “us” and “our”). Forward-looking statements can be identified by the use of words including “believe,” “anticipate,” “should,” “intend,” “plan,” “will,” “may,” “expect,” “estimate,” “project,” “positioned,” “strategy,” and similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Camtek to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Our actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including as a result of the effect of the COVID-19 crisis on the global markets and on the markets in which we operate, including the risk of the continuation of disruptions to our and our customers’, providers’, business partners and contractors’ businesses as a result of the COVID-19 pandemic; our dependency upon the semiconductor industry and the risk that unfavorable economic conditions or low capital expenditures may negatively impact our operating results; the highly competitive nature of the markets we serve, some of which have dominant market participants with greater resources than us; the rapid evolvement of technology in the markets in which we operate, and our ability to adequately predict these changes or keep pace with emerging industry standards; the risks relating to the concentration of a significant portion of our business in certain countries in the Asia Pacific Region, particularly China, Taiwan and Korea; changing industry and market trends; reduced demand for our products; the timely development of our new products and their adoption by the market; increased competition in the industry; price reductions; and those other factors discussed in our Annual Report on Form 20-F and other documents filed by the Company with the SEC as well as other documents that may be subsequently filed by Camtek from time to time with the SEC.

While we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. In addition, any forward-looking statements represent Camtek’s views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Camtek does not assume any obligation to update any forward-looking statements unless required by law.

CAMTEK LTD.

INTERNATIONAL INVESTOR RELATIONS

Moshe Eisenberg, CFO

GK Investor Relations

Tel: +972 4 604 8308

Ehud Helft

Mobile: +972 54 900 7100

Tel: (US) 1 646 688 3559

[email protected]

[email protected]

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SOURCE Camtek Ltd

Posted on December 3, 2020 7:03 am
Nevro Announces Director Appointment

Industry Veteran Sue Siegel Joins the Board

Founding Investor and Longtime Director Wilfred Jaeger Steps Down

PR Newswire

REDWOOD CITY, Calif., Dec. 3, 2020 /PRNewswire/ — Nevro Corp. (“Nevro”) (NYSE: NVRO), a global medical device company that is providing innovative, evidence-based solutions for the treatment of chronic pain, announced that Susan E. Siegel has been appointed as a member of the Board of Directors (the “Board”), effective December 2, 2020. Ms. Siegel succeeds Wilfred Jaeger, a founding investor in the company with nearly a decade of service to Nevro.

“On behalf of the entire Board, I thank Wilf for his many contributions to Nevro’s success,” said D. Keith Grossman, Chairman, President and CEO of Nevro. “Wilf’s visionary investment in the early days of Nevro was instrumental in developing a life-changing technology for tens of thousands of patients suffering from chronic pain. We wish Wilf the very best, and thank him for his influence and support over the years.”

“I would like to welcome Sue, who has over thirty years of experience in life sciences and healthcare, including advancing novel technologies and overseeing companies with high growth potential, to the Nevro Board,” Mr. Grossman said. “We look forward to Sue‘s contributions to our Board of Directors and the continuing success of Nevro.”

“I’m excited to be joining Nevro’s Board,” said Ms. Siegel. “I was attracted to the powerful combination of Nevro’s leading-edge technology, now being applied to important growth markets, and its stellar leadership team. Learning that Nevro’s products have been life changing for so many, with future untapped opportunities to profoundly impact people’s health, inspired me. I look forward to partnering with Keith, the Board, and the team to contribute to Nevro’s growth.”

Ms. Siegel has been at the forefront of disruptive technology and business model trends, encouraging companies large and small to adopt them for growth. Most recently, at General Electric, she held the positions of Chief Innovation Officer for GE and CEO of GE Ventures & Licensing from 2012-2019. Prior to joining GE, she led healthcare and life science investments as a General Partner at Mohr Davidow Ventures. Ms. Siegel also served as President and a member of the board of directors at Affymetrix Inc., leading the company’s transformation from an early-revenue startup to a global, multibillion-dollar market cap genomics leader. After transitioning to a corporate career from academic work in molecular biology and biochemistry, Ms. Siegel held executive leadership roles at Amersham, DuPont, and Bio-Rad. She currently serves on the boards of Illumina, Inc. and Align Technology, Inc.

About Nevro
Headquartered in Redwood City, California, Nevro is a global medical device company focused on providing innovative products that improve the quality of life of patients suffering from debilitating chronic pain. Nevro has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based, non-pharmacologic neuromodulation platform for the treatment of chronic pain. HF10 therapy has demonstrated the ability to reduce or eliminate opioids in ≥65% of patients across six peer-reviewed clinical studies. The Senza® System, Senza II™ System, and the Senza® Omnia™ System are the only SCS systems that deliver Nevro’s proprietary HF10® therapy. Senza, Senza II, Senza Omnia, HF10, Nevro and the Nevro logo are trademarks of Nevro Corp.

Investor Relations:

Julie Dewey

Vice President, Investor Relations and Corporate Communications
[email protected]

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SOURCE Nevro Corp.

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