Month: February 2021

PDS Biotechnology Corp (PDSB) – NCI-sponsored Phase 2 Study will Progress to Full Enrollment

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Thursday, February 04, 2021

PDS Biotechnology Corp (PDSB)
NCI-sponsored Phase 2 Study will Progress to Full Enrollment

PDS Biotechnology Corp operates as a clinical stage biotechnology company, principally involved in drug discovery in the United States. It is primarily engaged in the treatment of various early-stage and late-stage cancers, including head and neck cancer, prostate cancer, breast cancer, cervical cancer, anal cancer, and other cancers. Its products are based on the proprietary Versamune platform technology, which activates and directs the human immune system to unleash a powerful and targeted attack against cancer cells.

Ahu Demir, Ph. D., Biotechnology Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Moving towards full enrollment based on preliminary efficacy. Yesterday, PDS Biotechnology announced achievement of preliminary efficacy leading to progression of Phase 2 study to full enrollment. The National Cancer Institute’s (NCI) sponsored Phase 2 trial is evaluating PDS0101 in combination with two investigational immune-modulating agents bintrafusp alfa (M7824, a TGF-b / anti-PD-L1 bifunctional fusion protein) and NHS-IL12 (M9241, a DNA-targeted immunocytokine) for the treatment of advanced human papillomavirus (HPV)-associated cancers. Trial progression was decided initially based on the safety profile of the triple combination. Then on the efficacy front, the triple combination was expected to exceed (~40%) the single-agent M7824 clinical efficacy (30.5% objective response rate, ORR, published on J ImmunoTher Cancer 2020 October). As the objective response was observed in 3 out of 8 patients (37.5% ORR), the Phase 2 study will progress to full enrollment.

    Phase 2 study details.  The Phase 2 clinical study (NCT04287868) evaluating triple combination (M7824, M9241, and PDS0101 in a total of 40 subjects who are checkpoint inhibitor naïve and refractory patients with HPV-associated cancers. We anticipate more mature data in Q2/Q3 2021 …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Comstock Mining (LODE) – Focuses on Climate Smart Mining

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Comstock Focuses on Climate Smart Mining; Develops Existing and New Precious and Strategic Metals Projects to Fuel Clean Energy Transition

 

Virginia City, NV (February 4, 2021) Comstock Mining Inc. (“Comstock” and the “Company”) (NYSE American: LODE), a diversified precious and strategic metals production and processing company, today updated its plans for meeting the escalating demand for clean energy technologies. The Company and our partners, including Mercury Clean-Up, LLC (“MCU”) started with the deployment of new metals extraction and processing technologies that remediate soils and more efficiently extract and process gold at the Company’s existing facilities and abroad and we have targeted new development projects that efficiently reprocess and renew silver and other strategic metals.

Comstock’s shift to climate-smart mining started with technologies that target tailings, leach pads, and other mining wastes, in order to capture residual precious metals. The Company’s partnerships, projects and technologies, involve proprietary processes for remediating mercury and other metals from abandoned and leached mining sites and the surrounding eco-systems, while more efficiently extracting silver, gold and other strategic metals.

Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer stated, “Our ongoing work with remote mercury recovery and gold extraction provides an immediate example of our approach. MCU’s mercury remediation equipment is currently deployed in the Philippines, with processing operations commencing this month. We have coordinated with the community, landed the equipment, assembled the team, and prepped for start-up. Our joint venture partners are collaborating to begin removing toxic mercury contamination from U.S. and international eco-systems, while efficiently extracting gold from contaminated and abandoned mining sites.”

The Company plans to build and improve on these mineral and metal developments by introducing additional technologies that maximize recoveries from the Company’s existing gold and silver resources in Nevada, as well as other conservation-based projects that the Company and its partners plan on introducing in the coming months.

Quantum Surge in Global Demand for Metals

Comstock believes that its approach is especially timely and important. A recent report from the World Bank, entitled Mineral Intensity of the Clean Energy Transition, reported that the production of graphite, cobalt, lithium and many other strategic minerals and metals are expected to increase dramatically by 2050, as an estimated 3 billion tons of minerals and metals are used to deploy energy storage and renewable energy production projects.

“The world is becoming increasingly aware of the current risks and realities presented by climate change,” concluded Mr. De Gasperis. “A quantum surge of investment is expected in conservation-based energy storage and renewable energy projects worldwide. We cannot rely on conventional mining methods to meet critical mineral and metal needs and we are energized by these new opportunities, and the prospect of deploying these technologies to build shareholder value by meeting the increasing higher demand for these strategic, critical and precious metals.”

About Comstock Mining Inc.

Comstock Mining Inc. is a Nevada-based, precious and strategic metal-based exploration, economic resource development, mineral production and metal processing business with a strategic focus on high-value, cash-generating, environmentally friendly, and economically enhancing mining and processing technologies and businesses. The Company has extensive, contiguous property in the historic Comstock and Silver City mining districts (collectively, the “Comstock District”), is an emerging leader in sustainable, responsible mining and processing, and is currently commercializing environment-enhancing, metal-based technologies, products, and processes for precious and strategic metals recovery.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: consummation of all pending transactions; project, asset or Company valuations; future industry market conditions; future explorations, acquisitions, investments and asset sales; future performance of and closings under various agreements; future changes in our exploration activities; future estimated mineral resources; future prices and sales of, and demand for, our products; future impacts of land entitlements and uses; future permitting activities and needs therefor; future production capacity and operations; future operating and overhead costs; future capital expenditures and their impact on us; future impacts of operational and management changes (including changes in the board of directors); future changes in business strategies, planning and tactics and impacts of recent or future changes; future employment and contributions of personnel, including consultants; future land sales, investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives; the nature and timing of and accounting for restructuring charges and derivative liabilities and the impact thereof; contingencies; future environmental compliance and changes in the regulatory environment; future offerings of equity or debt securities; asset sales and associated costs; future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth.

These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: counterparty risks; capital markets’ valuation and pricing risks; adverse effects of climate changes or natural disasters; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mining activities; contests over title to properties; potential dilution to our stockholders from our stock issuances and recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting businesses; permitting constraints or delays; decisions regarding business opportunities that may be presented to, or pursued by, us or others; the impact of, or the non-performance by parties under agreements relating to, acquisitions, joint ventures, strategic alliances, business combinations, asset sales, leases, options and investments to which we may be party; changes in the United States or other monetary or fiscal policies or regulations; interruptions in production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, cyanide, water, diesel fuel and electricity); changes in generally accepted accounting principles; adverse effects of terrorism and geopolitical events; potential inability to implement business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors or others; assertion of claims, lawsuits and proceedings; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to list our securities on any securities exchange or market; inability to maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

Contact information for

Comstock Mining Inc.
117 American Flat Rd
PO Box 1118
Virginia City, NV 89440
http://www.comstockmining.com

Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
degasperis@comstockmining.com

Zach Spencer
Director of External Relations
Tel (775) 847-5272 ext.151
questions@comstockmining.com

Source: Comstock Mining

DLH Holdings Corp. (DLHC) – Solid 1Q21 Results But COVID Still Impacting

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Wednesday, February 03, 2021

DLH Holdings Corp. (DLHC)
Solid 1Q21 Results, But COVID Still Impacting

DLH Holdings Corp is a provider of technology-enabled business process outsourcing and program management solutions in the United States. The company offers services to several government agencies which include the Department of veteran affairs, Department of health and human services, Department of Defense and other government agencies. It operates primarily through prime contracts and also derives its revenue from agencies of the federal government, primarily as a prime contractor but also as a subcontractor to other Federal prime contractors.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    1Q21 Results. DLH reported 1Q21 revenue of $57.9 million, EBITDA of $5.7 million, and EPS of $0.13. The comparable numbers for last year were $52.2 million, $5.0 million, and $0.12 respectively. We were at $57.5 million, $5.5 million, and $0.14, respectively. IBA contributed nearly $7 million of revenue in the quarter, but the absence of pass-through travel revenue hit organic growth. Such revenue generates approximately $2.5 million per quarter in a normal environment.

    Improving Operating Metrics.  DLH posted improving operating metrics, even with COVID impacted revenue. For example, EBITDA margin improved to 9.8% from 9.5% in the year ago period. Operating margin rose to 6.3% versus 6.0% in 1Q20. Net margin was 3.1% in the first quarter of fiscal 2021, up from 3.0% in the first quarter of fiscal 2020. G&A costs, as a percent of revenue, declined to 10.6% from …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Bassett Furniture (BSET) – Furniture on Sale Initiating Coverage on Bassett Furniture

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Wednesday, February 03, 2021

Bassett Furniture (BSET)
Furniture on Sale, Initiating Coverage on Bassett Furniture

Bassett Furniture Industries Inc is a manufacturer, importer, and retailer of home furnishings products in the United States. It operates through the following segments: The Wholesale segment focuses on the design, manufacture, sourcing, sale, and distribution of furniture products. The Retail segment consists of company-owned stores. The Logistical Services segment offers shipping, delivery, and warehousing services.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Initiating coverage of Bassett Furniture Industries. We believe Bassett provides attractive upside from the current price with a very favorable furniture environment, lowered costs due to a 2020 restructuring, and growth initiatives focused around a “Made in America” strategy and expanding e-commerce opportunities.

    Leading Custom Furniture Manufacturer and Retailer.  Bassett is one of the largest integrated furniture manufacturers and retailers in the U.S. The Company currently manufactures product in five domestic facilities, producing about 75% of its furniture in the U.S. Bassett operates a 97 store retail network, consisting of 63 corporate owned stores and 34 licensed stores, and sells to over 700 …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Cumulus Media Inc. (CMLS) – What Does A Transitional Year Mean?

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Tuesday, February 02, 2021

Cumulus Media Inc. (CMLS)
What Does A Transitional Year Mean?

CUMULUS MEDIA, Inc. (NASDAQ: CMLS) is a leading audio-first media and entertainment company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. CUMULUS MEDIA engages listeners with high-quality local programming through 428 owned-and-operated stations across 87 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, the Olympics, the GRAMMYS, the American Country Music Awards, and many other world-class partners across nearly 8,000 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. CUMULUS MEDIA provides advertisers with local impact and national reach through on-air, digital, mobile, and voice-activated media solutions, as well as access to integrated digital marketing services, powerful influencers, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    NobleCon 17 Highlights. This report highlights a fireside chat discussion with Frank Lopez-Balboa, CFO of Cumulus Media. A rebroadcast of that conversation may be obtained by clicking here. Topics that were discussed included improving revenue trends, revenue visibility, growth businesses, thoughts on getting back to 2019 revenue levels and debt.

    Revenue improving, but lacks visibility.  Trends at the end of the year were better, but first quarter 2021 will be a tough comp given 10 weeks absent Covid a year earlier and the NCAA dispute. Notably, management indicated that advertising is being booked later and very close to air time, which provides poor revenue visibility …



This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Gray Television Inc. (GTN) – Plenty Of Room For Acquisition Fueled Growth

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Tuesday, February 02, 2021

Gray Television Inc. (GTN)
Plenty Of Room For Acquisition Fueled Growth

Gray Television, Inc. operates as a television broadcast company in the United States. As of April 6, 2010, it operated 36 television stations in 30 markets, including 17 affiliated with CBS Inc.; 10 affiliated with the National Broadcasting Company, Inc.; 8 affiliated with the American Broadcasting Company (ABC); and 1 affiliated with FOX Entertainment Group, Inc. (FOX). The company also operated 39 digital second channels comprising 1 affiliated with ABC, 4 affiliated with FOX, 7 affiliated with CW Network, LLC, 18 affiliated with Twentieth Television, Inc., 2 affiliated with Universal Sports Network, and 7 local news/weather channels. Gray Television, Inc. was founded in 1897 and is headquartered in Atlanta, Georgia.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Plans purchase of Quincy. The $925 million acquisition fits nicely with the company’s strategy of smaller market TV stations that have leading market positions. The company plans to divest stations with markets that it currently overlaps, in order for a quick regulatory approval. The planned station sales are some of Quincy’s largest and more valuable markets, including Tucson, Madison, Paducah and Cedar Rapids. Management expects to close the transaction in Q2 or Q3 2021.

    Attractive purchase price.  The company expects to achieve $23 million in synergies and indicated that the purchase price is a compelling 6.9 times blended 2019/2020 cash flow, with synergies. We believe that the purchase price is reasonable for smaller market TV stations …



This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Seanergy Maritime (SHIP) – New Time Charters Should Lower Volatility

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Tuesday, February 02, 2021

Seanergy Maritime (SHIP)
New Time Charters Should Lower Volatility

Seanergy Maritime Holdings Corp., an international shipping company, provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. Seanergy Maritime Holdings Corp. is the only pure-play Capesize shipping company listed in the US capital markets. Seanergy provides marine dry bulk transportation services through a modern fleet of 10 Capesize vessels, with total capacity of approximately 1,748,581 dwt and an average fleet age of about 9.8 years. The Company is incorporated in the Marshall Islands with executive offices in Athens, Greece and an office in Hong Kong. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP” and class A warrants under “SHIPW”.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Two Capes shifted to time charters. Likely to dampen quarterly volatility. The Fellowship and Geniuship are moving onto time charters with larger shippers at the beginning of 2Q2021. While the time charters are indexed, the move should dampen earnings volatility that previously caused by the timing of voyages. The shift is also positive since the charters offer the opportunity to lock in rates at some point and lower working capital. There is no change to our current EBITDA estimates of $15.1 million in 2020 and $33.5 million in 2021, but only two Capes remain on voyage charters, which should dampen some of the earnings volatility that was driven by the timing of voyage charters.

    Dry bulk market thesis intact.  While the past two years were negatively impacted by extreme factors, the dry bulk supply/demand fundamentals appear favorable and the year has started on a better-than-expected note. The order book and supply growth remain historically low due to rate volatility, regulatory uncertainty and declining capital availability, while demand should rebound on the back of …



This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Energy Outlook 2021

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How Oil is Expected to Remain an Important Part of the Energy Mix

 

EIA Releases its Annual Energy Outlook

The U.S. Energy Information Administration (EIA) released its Annual Energy Outlook for 2021.  The Annual Outlook provides modeled projections of domestic energy markets through 2050, including scenario analysis using various assumptions. The EIA, is part of the U.S. Department of Energy, and is the nation’s most authoritative source of data, forecasts, and analysis of the U.S. energy market. The report outlines energy production expectations over the next thirty years.

Noble Capital markets recently held a panel titled Managing the Transition to a Greener Energy Environment which brought together executives representing different energy sources to discuss the future of their respective fuelsand will present a livestream of its presentation on February 3rd at 2:00 pm ET (register at https://bipartisanpolicy.org/event/eias-annual-energy-outlook-2021-release).

 

Renewable and Natural Gas are projected Winners but Other Fuels Should see Declines Level Off

As one might expect, the EIA projects that natural gas and renewable fuels will grow in importance as the United States works to reduce carbon emissions. Coal production, which has fallen sharply in recent years, begins to level off by 2025 in response to falling prices. Oil production, which has expanded over the last decade due to production improvements and a growing economy, begins to stagnate and eventually decline with the proliferation of electric vehicles.

 

Source: United States Energy Information Administration (EIA): Annual Energy Outlook 2020

 

Generation to Grow in Importance with a Move to Electric Vehicles

Looking at consumption by sector; electric power remains the largest source of energy demand representing about one-third of consumption. The EIA sees generation demand reversing recent declines associated with efficiency gains and picking up demand from transportation starting around 2030. Industrial demand grows with an expanding economy and low energy prices.

 

Source: United States Energy Information Administration (EIA): Annual Energy Outlook 2020

 

Oil Prices Projected to Rise

EIA projections call for oil prices to rise steadily over the next thirty years as lost transportation and generation demand is replaced by increased industrial demand. The EIA’s base case has Brent oil prices rising above $100 in the next 25-30 years.

 

Source: United States Energy Information Administration (EIA): Annual Energy Outlook 2020

 

With Growing Tight Sand Production, the U.S. Will Remain A Net Exporter

Production from tight oil formations, led by production in the Permian Basin, has become the dominate source of U.S. production and the EIA believes that will continue. The United States will remain a net exporter of oil and energy for the foreseeable future.

 

Source: United States Energy Information Administration (EIA): Annual Energy Outlook 2020

 

Take-Away: Renewables Are Growing But Don’t Rule Fossil Fuels Out

The EIA’s conclusions match up with that of the NobleCon17 Energy Panel. Specifically:

  • Renewables will continue to take market share as costs continue to decline.
  • A portfolio of energy sources is needed to provide backup and react to changing prices.
  • Fossil fuels may lose market share but will see overall demand and pricing increase.
  • Efficiency gains will continue in all fuels.

 

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Release – Ocugen (OCGN) – Announces Execution of Definitive Agreement for the Commercialization of COVAXIN

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Ocugen and Bharat Biotech Announce Execution of Definitive Agreement for the Commercialization of COVAXIN™ in the US Market

 

  • Definitive Agreement provides details of the previously announced intent to co-develop COVAXIN™ for the US market
  • Ocugen and Bharat Biotech to share US commercialization profits
  • Ocugen to receive initial supply of COVAXIN™ doses from Bharat Biotech upon authorization from US regulatory authorities while it ramps up manufacturing in the US
  • COVAXIN™ received EUA (Emergency Use Authorization) in India in January and is currently in a fully enrolled Phase 3 clinical trial involving 25,800 patients
  • COVAXIN™ (whole-virion inactivated COVID-19 vaccine candidate) effectively neutralizes UK variant of SARS-Cov-2 reducing the possibility of mutant virus escape

MALVERN, Pa. and HYDERABAD, India, Feb. 02, 2021 — Ocugen, Inc., (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to fight COVID-19, and Bharat Biotech, a global leader in vaccine innovation, today announced they have entered into a definitive agreement to co-develop, supply, and commercialize Bharat Biotech’s COVAXIN™, an advanced stage whole-virion inactivated COVID-19 vaccine candidate, for the United States market.

Under the terms of the agreement, Ocugen will have US rights to the vaccine candidate and will be responsible for clinical development, regulatory approval (including EUA) and commercialization for the US market. Bharat Biotech will supply initial doses to be used in the US upon Ocugen’s receipt of an EUA. In addition, Bharat Biotech will support the technology transfer for manufacturing in the US. In consideration for the exclusive license to the US market, Ocugen will share the profits from the sale of COVAXIN™ in the US market with Bharat Biotech, with Ocugen retaining 45% of the profits.

The collaboration will leverage the vaccine expertise of Ocugen’s leadership team. In preparation for the development of COVAXIN™ in the US, Ocugen’s Vaccine Scientific Advisory Board and Ocugen management have initiated discussions with the U.S. Food & Drug Administration (FDA) and the Biomedical Advanced Research and Development Authority (BARDA) to develop a regulatory path to EUA and, eventually, biologics license application (BLA) approval in the US market for COVAXIN™. Ocugen is also in active discussions with manufacturers in the US to produce a significant number of doses of COVAXIN™ to support its US immunization program.

“The evaluation of COVAXIN™ has resulted in several unique product characteristics including long-term persistence of immune responses to multiple viral proteins, as opposed to only the spike protein, and has demonstrated broad spectrum neutralizing capability with heterologous SARS-CoV-2 strains, thus potentially reducing or eliminating escape mutants. Requiring only a standard vaccine storage temperature of 2-8oC and with the potential to treat all age-groups, COVAXIN™ may offer an important option to protect lives across America,” said Dr. Shankar Musunuri, Chairman, CEO, and Co-Founder of Ocugen.

The Central Licensing Authority in India has granted permission for the sale or distribution of COVAXIN™ for restricted use in emergency situations in the public interest, in clinical trial mode. With the kickoff of what is likely to become the biggest national vaccination campaign in India’s history, COVAXIN™ is being administered as one of the two COVID-19 shots available under emergency authorization with the first batch of 30 million doses being administered to health professionals and front-line workers.

About COVAXIN™

COVAXIN™, India’s COVID-19 vaccine by Bharat Biotech is developed in collaboration with the Indian Council of Medical Research (ICMR) – National Institute of Virology (NIV). COVAXIN is a highly purified and inactivated vaccine that is manufactured using a vero cell manufacturing platform with an excellent safety track record of more than 300 million doses supplied.

In addition to generating strong immune response against multiple antigens, COVAXIN™ is shown to generate memory T cell responses, for its multiple epitopes, indicating longevity and a rapid antibody response to future infections. With published data demonstrating a safety profile superior to several other vaccines, COVAXIN™ is packaged in multi-dose vials that can be stored at 2-8oC.

About Ocugen, Inc.

Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to fight COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug – “one to many” and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. We are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for COVID-19 in the US market. For more information, please visit www.ocugen.com.

About Bharat Biotech:

Bharat Biotech has established an excellent track record of innovation with more than 140 global patents, a wide product portfolio of more than 16 vaccines, 4 bio-therapeutics, registrations in more than 116 countries, and World Health Organization (WHO) Pre-qualifications. Located in Genome Valley in Hyderabad, India, a hub for the global biotech industry, Bharat Biotech has built a world-class vaccine & bio-therapeutics, research & product development, Bio-Safety Level 3 manufacturing, and vaccine supply and distribution.

Having delivered more than 6 billion doses of vaccines worldwide, Bharat Biotech continues to lead innovation and has developed vaccines for influenza H1N1, Rotavirus, Japanese Encephalitis, Rabies, Chikungunya, Zika and the world’s first tetanus-toxoid conjugated vaccine for Typhoid.

Bharat’s commitment to global social innovation programs and public private partnerships resulted in the introduction of path breaking WHO pre-qualified vaccines BIOPOLIO®, ROTAVAC® and Typbar TCV® combatting polio, rotavirus, typhoid infections, respectively. The recent acquisition of the rabies vaccine facility, Chiron Behring, from GlaxoSmithKline (GSK) has positioned Bharat Biotech as the largest rabies vaccine manufacturer in the world. To learn more about Bharat Biotech visit www.bharatbiotech.com

Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from our current expectations. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (the “SEC”), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, after the date of this press release.

Ocugen Contact:

Ocugen, Inc.
Sanjay Subramanian
Chief Financial Officer
ir@ocugen.com

Media Contact:

For Ocugen:
LaVoieHealthScience

Lisa DeScenza
ldescenza@lavoiehealthscience.com

+1 978-395-5970

For Bharat Biotech:
Sheela Panicker
enright@enrightpr.com

+91 984-980-9594

SOURCE: Ocugen

Release – Stem Holdings (STMH) – Announces All Common Shares of DRVD will Trade Under symbol STMH on February 4 2021

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Stem Holdings Announces All Common Shares of ‘DRVD’ will Trade Under symbol ‘STMH’ on February 4, 2021

 

Consolidated Market Capitalization of US$112 Million Post-Acquisition

BOCA RATON, FL, Feb. 02, 2021 (GLOBE NEWSWIRE) — Stem Holdings, Inc. DBA Driven by Stem (the “Company” or “Stem”) (OTCQX: STMH CSE: STEM), a leading omnichannel, vertically-integrated cannabis branded products and technology company with an integrated Delivery-as-a-Service (DaaS) platform, today announced the timeline and process for the exchange of all common shares of Driven Deliveries, Inc. (“Driven” or “Driven Deliveries”) (OTCQB: DRVD) for shares of Stem. The shares of Stem trade under the symbol, STMH, on the OTCQX and, STEM, on the CSE.

The exchange of the Driven Deliveries common stock for Stem common stock follows the Company’s previously announced acquisition (the “Acquisition”) of Driven Deliveries, which closed December 29, 2020. All Driven Deliveries Shareholders will receive one share of Stem’s common stock for each share held.

On February 4, 2021 FINRA will halt and remove the DRVD symbol (CUSIP NO: 26209D105). Driven shares in brokerage accounts will automatically be converted to shares of Stem (CUSIP NO: 85858U107) by Depository Trust Company (“DTC”) and the brokerage firms. There is no additional action required from investors with deposited DRVD shares or DRVD investors who have purchased in the open market.

Pursuant to Stem’s S-4 deemed effective by the SEC on February 2, 2021, Driven shareholders with undeposited shares held in certificate form or in book entry form with Driven’s transfer agent will have shares of Stem issued, in the same amount and with the same restrictions, by Odyssey Trust Company, Stem’s transfer agent. Following such issuance, current DRVD stock certificates (CUSIP NO: 26209D105) will be declared void and should be destroyed by the shareholder.

Driven & Stem shareholders needing to contact the transfer agent should submit and online ticket at https://odysseycontact.com/ for service.

About Stem

Stem is a leading omnichannel, vertically-integrated cannabis branded products and technology company with state-of-the-art cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. Stem’s family of award-winning brands includes TJ’s Gardens™, TravisxJames™, and Yerba Buena™ flower and extracts; Cannavore™ edible confections; Doseology™, a CBD mass-market brand launching in 2021; as well as DaaS brands Budee™ and Ganjarunner™ through the acquisition of Driven Deliveries. Budee™ and Ganjarunner™ e-commerce platforms provide direct-to-consumer proprietary logistics and an omnichannel UX (user experience) / CX (customer experience).

Cautionary Note Regarding Forward-Looking Information

This press release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the management of Stem with respect to future business activities. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” or similar expressions and includes information regarding the exchange of Driven and Stem shares and the timing thereof. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects the management of Stem expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Stem believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; adverse changes in applicable laws; adverse changes in the application or enforcement of current laws, including those related to taxation; and changes or delays resulting from third-parties and regulators which are outside of the Company’s control. This forward-looking information may be affected by risks and uncertainties in the business of Stem and market conditions.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Stem has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Stem does not assume any obligation to update this forward-looking information except as otherwise required by applicable law.

No securities regulatory authority has in any way passed upon the merits of the proposed transactions described in this news release or has approved or disapproved of the contents of this news release.

For further information, please contact:

Media Contact:
Mauria Betts
Stem Holdings, Inc.
Mauria@stemholdings.com
971-319-0303

Investor Contact:
KCSA Strategic Communications
Valter Pinto or Elizabeth Barker
+1 212-896-1254 or +1 212-896-1203
STEM@kcsa.com

SOURCE: Driven By Stem

Release – Noble Capital Markets – Announces that RHK Capital will be Joining Noble

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RHK Capital Team Joins Noble Capital Markets

 

BOCA RATON, Fla., Feb. 01, 2021 (GLOBE NEWSWIRE) — via InvestorWire — Noble Capital Markets, Inc. (“Noble”) today announces that RHK Capital (“RHK”) and its team of independent advisors and bankers will be joining Noble and will operate under the new name of RHK Noble Capital Markets (“RHK-NCM”). RHK-NCM, led by its principals Bruce Ryan and Richard Kreger, will operate from Westport, Connecticut with additional branch offices expected in Morristown, New Jersey, Scottsdale, Arizona, Palm Beach Gardens, Florida, and Hawaii. The full integration of the RHK team is expected to be completed over the next 30 to 90 days. RHK-NCM will primarily focus on investment banking activities and wealth management services, both traditional and fee-based.

“We are extremely pleased that Bruce Ryan, Richard Kreger and the RHK Capital team are joining Noble,” said Nico Pronk, president and CEO of Noble. “This collaboration adds talented, experienced investment bankers and wealth managers, positioning us to grow our assets under management, clients and geographic breadth. I am confident that the synergies between our two groups will be to the benefit of our collective customers, wealth managers and investment bankers.”

“I have known Nico and Mark (Noble’s Managing Partner Mark Pinvidic) for over 10 years. As we conducted our search for a new broker-dealer platform, and from the very start, we knew that Noble is where our team wanted to land,” said Richard H. Kreger, head of investment banking at RHK-NCM. “When I was on the buy-side, I had a great opportunity to work with Noble as an institutional investor, attend their incredible conferences and network with them; I look forward to advancing the careers of our team in partnership with the incredibly talented Noble team.”

“Noble, under the same management and ownership, has been in the industry just about as long as I have,” added Bruce Ryan. “This is a tough industry to survive, let alone thrive in… Longevity is very meaningful in terms of credibility and integrity. Noble’s innovative channelchek.vercel.app platform will also be a great resource for our team of advisors.”

About RHK Capital

RHK Capital is a pioneer in the revival and re-purpose of the rights offering structure, with additional experience in warrant offerings, IPOs, primary offerings, follow-on offerings, registered directs, confidentially marketed public offerings, private placements, secondaries, exchange offers, mergers and acquisitions, stock and asset sales, restructurings, recapitalization and other related investment banking activities. Richard H. Kreger and Bruce Ryan co-founded RHK Capital. Mr. Kreger has closed hundreds of millions of dollars of financing transactions over his sell-side and buy-side career. Prior to RHK Capital, Richard served in various leadership positions for firms including Source Capital Group, Maxim Group, Midtown Partners and H.C. Wainwright. Mr. Ryan has been in the industry for more than 40 years and has held senior positions in several firms, including Source Capital, Smith Barney and Merrill Lynch. Bruce and his team at RHK have advised and funded several hundred million dollars over the last five years in high-end self-storage RE and will be continuing those efforts at RHK Noble. Bruce has also been active in the pre-IPO markets representing both buyers and sellers. Over the past three decades, he has completed numerous private placements and IPOs as managing underwriter.

About Noble Capital Markets, Inc.

Noble Capital Markets (“Noble”) www.noblecapitalmarkets.com is a research-driven boutique investment bank that has supported small and microcap companies since 1984. As a FINRA and SEC licensed and registered broker-dealer, Noble provides institutional-quality equity research, merchant and investment banking, wealth management and order execution services. In 2005, Noble established NobleCon, an investor conference that has grown substantially over the last decade and a half. In 2018, Noble launched channelchek.vercel.app – an investment community dedicated exclusively to small and micro-cap companies and their industries. Channelchek is tailored to meet the needs of self-directed investors and financial professionals and is the first service to offer institutional-quality research to the public, for FREE at every level without a subscription. More than 6,000 emerging growth companies are listed on the site, with growing content including webcasts, industry sector reports, advanced market data and balanced news.

Contact:

contact@noblecapitalmarkets.com or contact@channelchek.vercel.app

Corporate Communications:

InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

Class Action Lawsuit Against Robinhood

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Understanding the Robinhood Class Action Lawsuit

 

No Fluff- Just Facts

On Thursday (January 28, 2021) a class action lawsuit was filed against Robinhood, the stock-trading and investing firm, in a New York federal court.

On Wednesday (January 27, 2021) Robinhood unilaterally removed certain stocks from its trading platform, among them Gamestop (“GME”). The removal prevented Robinhood customers from buying, selling, or even searching for GME on the Robinhood app.

The lawsuit alleges that “Robinhood breached its Customer Agreement by…failing to disclose that its platform was going to randomly pull a profitable stock from its platform…” Also alleged is that Robinhood violated Financial Industry Regulatory Authority (“FINRA”) Rule 5310.01 by “failing to respond at all to customers’ placing timely trades — and outright blocking customers from trading a security.” Rule 5310.01 requires that investing firms “must make every effort to execute a marketable customer order that it receives promptly and fully.”

The class action Complaint is comprised of four “Causes of Action”: (I) Breach of Contract; (II) Breach of the Implied Covenant of Good Faith and Fair Dealing; (III) Negligence; and (IV) Breach of Fiduciary Duty and was lodged against Robinhood Financial LLC, Robinhood Securities, LLC, and Robinhood Markets, Inc. (collectively “Robinhood”). The “Relief” sought is also in four parts: (1) damages for class members’ ongoing losses incurred by their inability to sell GME on Robinhood’s platform; (2) attorney’s fees and costs; (3) punitive damages, and (4) an immediate injunction requiring Robinhood to reinstate GME on its trading platform.

The injunction request was mooted on Friday with GME’s reinstatement to Robinhood’s platform and resumption of customers’ unfettered ability to trade it.

Although Thursday’s lawsuit was filed in the United States District Court for the Southern District of New York by Attorney Alexander Cabeceiras, it was filed in the name of class member representative, Brendon Nelson, from Massachusetts.  Alleged is that aggregate claims exceed five million dollars in damages, exclusive of attorney’s fees and costs, and that there are more than 100 putative members. A jury trial has been requested. The case has been assigned to United States District Judge Jesse M. Furman.

“DoNotPay,” an app previously marketed as a “streamlined” way for consumers to “get refunds and cancel subscriptions,” expanded its services on Thursday to add a feature allowing users to apply to join the New York lawsuit against Robinhood.  DoNotPay charges an annual fee of $36.00 to access its app. DoNotPay is not the only way to join the New York class action.

Other lawsuits against Robinhood may follow, and a second class action lawsuit is currently being organized by the law firm ChapmanAlbin, LLC, based in Cleveland, Ohio.

The filing of multiple lawsuits – including multiple class actions – against the same defendant involving the same subject matter is not uncommon in the United States, and is neither prohibited nor illegal. Given the nationwide expanse of its customer base, Robinhood could be sued in any state or federal court (its exposure outside the U.S. is beyond the scope of this article).  Multiple lawsuits by the same person against the same defendant over the same subject matter, however, are essentially prohibited, and would thus preclude Robinhood consumers from joining more than one lawsuit.

When substantially identical suits are filed in competing federal courts, the “first-to-file” or “first-filed” rule is often applied. The “rule” is not an actual, statutory rule, but a longstanding doctrine of comity whereby a federal court in which a substantially identical action is filed has discretion to stay, dismiss, or transfer the second-filed case in deference to the first-filed case. While the authority of a federal court to dictate what another federal court cannot due is unsettled, its authority over a state-filed action usually goes unchallenged.

If another lawsuit was initiated against Robinhood in any state court, the matter could (and would likely) be immediately removed (kicked up) by Robinhood to federal court.

 

 

Competing federal class actions presents a variety of challenges and options for Robinhood. There is no one-size-fits-all approach.  One option is for Robinhood to separately defend each action, triggering res judicata (Latin for “thing decided”) and claim preclusion principles borne from the Full Faith and Credit Clause of the United States Constitution, and thus a race-to-the-finish scenario: the first action to reach judgment on the merits, whether that be by settlement or through litigation (i.e., disposal by way of a court’s ruling on a motion to dismiss or summary judgment, or by way of a jury trial), is generally conclusive as to all class members despite any competing litigation that is still pending. Whether the first judgment wholly precludes or halts another lawsuit depends on the overlap between the claims asserted and the classes (the more overlap between the two, the more impactful the judgment and vice versa).

Within the race-to-the-finish is the race-for-class-certification. Rule 23 of the Federal Rules of Civil Procedure dictates whether a federal class action may be “certified” and thus even permitted to go forward. Certification is not automatic nor is it “a given.” Rule 23 states that “[a]t an early practicable time after a person sues…as a class representative, the court must
determine by order whether to certify the action as a class action.” Proving that Rule 23’s requirements have been satisfied can be tedious, costly, and time-consuming. Consequently, “at an early practicable time” can mean the class certification ruling is stayed or held in abeyance while the court instead rules on a motion which is outcome determinative (dispositive) to the case substantively, such as a motion to dismiss or motion for summary judgment.

Robinhood’s response to any lawsuit, regardless of where that lawsuit is filed, will likely be a dispositive motion based upon the terms and conditions contained in its 33-page, singled-spaced “Customer Agreement” last updated June 2020. To use Robinhood’s free app and gain access to the Robinhood trading platform, customers must enter the Customer Agreement and agree to those terms and conditions.

Germane to the NY lawsuit allegations is Paragraph 16, “Restrictions on Trading,” which states: “I understand that Robinhood may at any time, at its sole discretion and without prior notice to Me: (i) prohibit or restrict My access to the use of the App or the Website or related services and My ability to trade, (ii) refuse to accept any of My transactions, (iii) refuse to execute any of My transactions, or (iv) terminate My Account.”

Also germane is Paragraph 38, “Arbitration,” which states: “This Agreement contains a pre-dispute arbitration clause…by signing…the parties agree [that] [a]ll parties to this Agreement are giving up the right to sue each other in court, including the right to trial by jury…“

The preclusive effect of a settlement creates an incentive among competing class counsel to be the first to reach a settlement. Authority to reach a settlement on behalf of class members depends on whether an order of class certification has been obtained. A defendant facing or potentially facing numerous class actions, such as Robinhood, has incentive and implied bargaining leverage with whichever counsel it chooses to negotiate as the first deal cut may be binding on all Robinhood consumers, yet leave counsel for the non-deal-making class out entirely.

 

About the Author:

Denese Venza, Esq. is an attorney and freelance writer licensed to practice in both state and federal courts in Florida and West Virginia. The information contained in this article is provided for informational purposes only, is not legal advice, and should not be construed as legal advice on any subject matter.

 

Suggested Reading:

Short-Sellers vs GameStop Buyers

Will
Robinhood be Fined on Charges of Gamification?

Can Small
Investors Compete With Wall Street?

 

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Release – Avivagen (VIVXF) – Announces Launch of Dr Tobias Beta Blend

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Mimi’s Rock Corp. and Avivagen Announce Launch of Dr. Tobias Beta Blend on Amazon.com

 

Ottawa, ON / Business Wire/ February 1, 2021 / – Mimi’s Rock Corp. (TSXV:MIMI) and Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen”), are pleased to announce the launch of Dr. Tobias Beta Blend available today through Amazon.com and DrTobias.com.

An exclusive formula featuring a Beta-Carotene Norisporenoid Blend and Vitamin A, Beta Blend provides advanced immune support while promoting eye and skin health.

“As an online leader in dietary supplements and wellness we are always looking to bring the next great product to our customers,“ says David Kohler, Chief Executive Officer, Mimi’s Rock Corp. “With COVID-19 bringing the importance of immune system health to the front of everyone’s mind, we believe that consumer demand for a product like Dr. Tobias Beta Blend will be strong from day one.”

Dr. Tobias Beta Blend is the first product designed for human consumption to leverage Avivigen’s proprietary OxC-betaTM technology, which supports the immune function of humans, livestock and companion animals through non-antibiotic means. OxC-betaTM works by supporting and priming the innate immune system while dampening chronic, overzealous inflammatory responses.

“We are very excited to bring our first nutraceutical designed and developed to promote advanced immune support for humans to market through our strong partnership with Mimi’s Rock,” says Kym Anthony, Chief Executive Officer, Avivagen, Inc. “There has already been exemplary success and uptake for OxC-betaTM applications for companion animal and livestock uses, including a high-quality supplement for companion animals launched with Mimi’s Rock last year. We believe Dr. Tobias Beta Blend will be well received by consumers looking to improve their immune system health.”

Dr. Tobias Beta Blend retails for USD $29.97 and is available exclusively through Amazon.com and DrTobias.com. Dr. Tobias Beta Blend is developed, marketed and sold by Centre Beach Inc., a joint venture company owned by Avivagen and Mimi’s Rock Corp.

About Mimi’s Rock Corp.

Mimi’s Rock Corp. is an online dietary supplement and wellness company which operates the Dr Tobias, All Natural Advice and Maritime Naturals brands. The Dr Tobias brand features over 30 products including the top-selling Colon 14 Day Cleanse and the #1 best-selling Omega 3 Fish Oil on Amazon.com. The Omega 3 Fish Oil is also the 4th largest subscribe & save product on Amazon.com. Mimi’s Rock Corp. has rapid growth plans as it continues to expand into global markets. For more information, visit www.mimisrock.com.

About Avivagen

Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications. By unlocking an overlooked facet of ?-carotene activity, a path has been opened to safely and economically support immune function, thereby promoting general health and performance in animals. Avivagen is a public corporation traded on the TSX Venture Exchange under the symbol VIV and on the OTCQB Exchange in the U.S. under the symbol VIVXF, and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada and Charlottetown, Prince Edward Island. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements involve risks and uncertainties associated with the business of Avivagen Inc. and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “aim”, “anticipate”, “appear”, “believe”, “consider”, “could”, “estimate”, “expect”, “if”, “intend”, “goal”, “hope”, “likely”, “may”, “plan”, “possibly”, “potentially”, “pursue”, “seem”, “should”, “whether”, “will”, “would” and similar expressions. Statements set out in this news release relating to the future plans of Avivagen’s customers and the potential for additional and/or increased orders from such customers, Avivagen’s expectations as to growth of its branding in certain jurisdictions, continued distribution and acceptance of Avivagen’s technology, anticipated growth in demand for Avivagen’s products, the potential for Avivgen’s products to be commercialized in human applications, the anticipated date of fulfillment for the order described, the possibility for OxCbeta ™ Livestock to replace antibiotics in livestock feeds as well as fill a critical need for health support in certain livestock applications where antibiotics are precluded and the size of market opportunities are all forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. For instance, the order described may not result in new orders for Avivagen’s products, the customer plans may change due to many reasons, demand for Avivagen’s products may not continue to grow and could decline, Avivagen’s brand recognition may not increase as anticipated or could be impacted by negative events, Avivagen’s products may not gain market acceptance or regulatory approval in new jurisdictions or for new applications, including human applications, and may not be widely accepted as a replacement for antibiotics in livestock feeds, new market access may not occur in the timeline or manner expected by Avivagen, timing of fulfillment of the order may be delayed beyond current expectation for a number of reasons which would push fulfillment and recognition of revenues for this order into a future quarter and the market opportunities may not be as large as Avivagen anticipates, in each case due to many factors, many of which are outside of Avivagen’s control. Readers are referred to the risk factors associated with the business of Avivagen set out in Avivagen’s most recent management’s discussion and analysis of financial condition available at www.SEDAR.com. Except as required by law, Avivagen assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Neither 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.

For more information:
 Avivagen Inc.
Drew Basek
Director of Investor Relations
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Phone: 416-540-0733
E-mail: d.basek@avivagen.com

Kym Anthony
Chief Executive Officer
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Head Office Phone: 613-949-8164
Website: www.avivagen.com

SOURCE: Avivagen