Month: March 2021

Release – Kratos Defense & Security Solutions (KTOS) – Awarded $8.9 Million Contract

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Kratos Awarded $8.9 Million Contract for CH-47F Chinook Maintenance Training Systems Enhancements

 

SAN DIEGO, March 04, 2021 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has received an $8.9 million subcontract to upgrade four Kratos CH-47F Chinook Avionics Trainers (CATs) and two Kratos CH-47F Maintenance Blended Reconfigurable Aviation Trainers (MBRATs) located at the U.S. Army’s 128th Aviation Brigade in Ft. Eustis, Virginia.

Kratos will upgrade the trainers’ multiple avionics systems and aircraft survivability equipment to ensure concurrency of the simulators to the latest CH-47F configuration. The work will be performed under a subcontract to USfalcon, Inc. under its OASIS Pool 6 contract.

The CH-47F CAT is a High-Fidelity Hands-On-Training System (HOTS) that provides full-task training through simulation of all avionics in an integrated configuration within a high-fidelity physical environment. The CAT replicates the aircraft interior and exterior environments with a simulation of all replaceable modular components along with the required test, measuring and diagnostic equipment.

“The maintenance of the CH-47F is critical to Army readiness,” said Jose Diaz, Senior Vice President of Kratos Training Solutions. “The MBRAT provides student training through simulation of the CH-47F cockpit on multiple touch screen monitors. It blends a high-fidelity virtual environment, physical attributes and spatial physical awareness with established CH-47F simulation software. These upgrades will ensure the concurrency of the CH-47F MBRATs and CATs avionics, flight control and survivability systems with those of the CH-47F.”

Kratos develops advanced, cost effective training solutions for U.S. and allied forces that enhance warfighter readiness and survivability. Kratos is driving innovation in military simulation and training programs by integrating the latest immersive technologies with its Common Open Architecture content development process and advanced simulation systems for air, ground, maritime and soon space domains.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information, go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 29, 2019, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687

investor@kratosdefense.com

Source: Kratos Defense & Security Solutions, Inc.

Release – Capstone Turbine (CPST) – Secures Follow-On Order From Major Oil and Gas Producer In India

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Capstone Turbine Secures Follow-On Order From Major Oil & Gas Producer In India

 

Microturbines to be Deployed at a Gathering Station in India for Flare Recovery Project

VAN NUYS, CA / ACCESSWIRE / March 4, 2021 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world’s leading manufacturer of clean technology microturbine energy systems, announced today that it received a follow-on order for Oil and Natural Gas Corporation (ONGC), India’s renowned multi-national oil and gas company, for one C200 Signature Series and two C65 microturbines. Brio Energy Pvt. Ltd., Capstone’s exclusive distributor in India (www.brioenergy.in), secured the order, which is expected to be commissioned in May 2021.

Capstone continues its growth in the South Asian oil and gas market with its recent follow-on order from ONGC. The microturbines, destined for a remote gathering station in western India, will provide primary power to the facility while simultaneously reducing the flaring of associated gas which negatively impacts the environment. Utilizing the flare gas that would otherwise be wasted reduces the company’s overall operational costs. In addition, it helps the environment by eliminating the need to import power from the local utility, reducing their overall carbon footprint.

“Gas flaring is a global issue, but it’s much more acute in areas with limited infrastructure and often has devastating negative impacts on local communities. Beyond the obvious noise and light issues, flaring emits black carbon, methane, and volatile organic compounds, all of which are dangerous air pollutants,” said Darren Jamison, President and Chief Executive Officer of Capstone Turbine. “It’s tremendous to see a world-renowned oil and gas company like India’s ONGC continue to utilize Capstone’s green energy products to limit the environmental impacts associated with flare gas in India,” added Mr. Jamison.

Officials at ONGC have really appreciated the vast benefits of Capstone’s microturbine technology with their initial order. Capstone microturbines are able to use flare gas as an input fuel source without any gas pre-treatment. This allowed the customer to monetize the associated gas while simultaneously keeping operational costs low by not needing extra fuel-cleaning equipment.

“Our aim is to provide next-generation energy solutions to industries that match today’s distributed generation needs,” said Shubham Mishra, Principal at Brio Energy. “Through the use of Capstone’s microturbine energy systems, we can advance clean and reliable energy solutions across the country and achieve carbon neutrality,” added Mr. Mishra.

Capstone microturbines are recognized in the oil and gas industry for their strong performance and reliability. Along with their rugged reputation, microturbines allow oil and gas operators to meet flare gas reduction objectives. By utilizing on-site natural gas, oil and gas producers have the potential to reduce harmful emissions and also lower their operating expenses.

About Capstone Turbine Corporation

Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) is the world’s leading producer of highly efficient, low-emission, resilient microturbine energy systems. Capstone microturbines serve multiple vertical markets worldwide, including natural resources, energy efficiency, renewable energy, critical power supply, transportation and microgrids. Capstone offers a comprehensive product lineup via our direct sales team, as well as our global distribution network. Capstone provides scalable solutions from 30 kWs to 10 MWs that operate on a variety of fuels and are the ideal solution for today’s multi-technology distributed power generation projects.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@capstoneturbine.com. To date, Capstone has shipped nearly 10,000 units to 83 countries and in FY20, saved customers an estimated $219 million in annual energy costs and 368,000 tons of carbon.

For more information about the company, please visit www.capstoneturbine.com. Follow Capstone Turbine on Twitter, LinkedIn, Instagram, Facebook and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason. “Capstone” and “Capstone Microturbine” are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628

ir@capstoneturbine.com

SOURCE: Capstone Turbine Corporation

Release – Avivagen (VIVXF) – Announces Upcoming Research Publication Highlighting The Benefits Of OxC-beta Livestock for Broiler Poultry

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Avivagen Announces Upcoming Research Publication Highlighting The Benefits Of OxC-betaTM Livestock for Broiler Poultry

 

  • Study to be published soon in leading peer-reviewed journal Poultry Science.
  • Poultry Science is an internationally renowned journal, known as the authoritative source for a broad range of poultry information and high-caliber research.

Ottawa, ON /Business Wire/ March 4, 2021 / – Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen” or the “Corporation”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that enhance feed intake and safely support immune function, thereby supporting general health and performance, has announced that a manuscript reporting the benefits of OxC-betaTM Livestock (“OxC-beta”) for broiler poultry has been approved for publication by Poultry Science, a leading peer-reviewed journal.

The paper, entitled “Effect of Oxidized ?-Carotene (OxBC) on the Growth and Feed Efficiency of Broilers” reports on the positive results of two dietary supplementation trials in which OxC-beta was used with broiler poultry. In both trials, birds in the OxC-beta groups achieved significantly improved growth performance measures, including average daily weight gain and feed utilization efficiency, when compared to birds in control groups. These findings demonstrate that dietary supplementation with OxC-beta helps broiler poultry achieve their full growth potential under real world commercial conditions without the use of antibiotics.

The first of the two comprehensive studies was conducted in Canada, with birds being reared under typical commercial conditions for broiler production in Ontario. The second study was conducted in Scotland under typical commercial conditions for broiler production in the United Kingdom.

“We are very excited about the publication of the study in a highly credible peer-reviewed journal like Poultry Science,” says Kym Anthony, Chief Executive Officer, Avivagen. “This publication provides an additional level of scientific validation supporting the commercially meaningful benefits of using OxC-beta for broiler poultry, providing additional value to Avivagen’s current and future customers committed to eliminating or reducing antibiotic use in their operations.’

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 beta-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.

About OxC-beta™ Technology and OxC-beta™ Livestock

Avivagen’s OxC-beta™ technology is derived from Avivagen discoveries about beta-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Taiwan, New Zealand, Thailand, Australia and Malaysia.

Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta™ Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.

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

Release – Ocugen (OCGN) – Vaccine Co-Development Partner Bharat Biotech shares Phase 3 Interim Results of COVAXIN

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Ocugen’s COVID-19 Vaccine Co-Development Partner, Bharat Biotech shares Phase 3 Interim Results of COVAXIN, Demonstrates Efficacy of 81%

 

  • Data from 25,800 participants in Phase 3 trial in India, received vaccine or placebo in a 1:1 ratio showed that the vaccine candidate was well tolerated and demonstrated 81% efficacy in preventing COVID-19 in those without prior infection after the second dose.
  • Clinical trial to continue through to final analysis at 130 confirmed cases in order to gather further data and to evaluate the efficacy of COVAXIN in additional secondary study endpoints.

MALVERN, Pa., March 03, 2021 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, today announced that its co-development partner, Bharat Biotech, announced the results of the first interim analysis of its Phase 3 study of COVAXIN, a whole virion inactivated COVID-19 vaccine candidate. COVAXIN demonstrated a vaccine efficacy of 81%.

“We are thrilled with the interim efficacy results of Bharat Biotech’s Phase 3 trial of COVAXIN in India. These results, which in part suggest significant immunogenicity against the rapidly emerging UK variant, represent an additional step towards outlining the regulatory pathway for EUA and approval in the United States. COVAXIN, a whole virion based vaccine candidate, is designed to fill a significant unmet need in our national arsenal of vaccines against COVID-19,” said Dr. Shankar Musunuri, Chairman of the Board, Chief Executive Officer, and Co-founder of Ocugen.

“Today’s results from the interim analysis of Bharat Biotech’s Phase 3 trial of COVAXIN mark a milestone in the development of another critical vaccine option for the US market. COVAXIN has been shown to induce immune responses against multiple protein antigens of the virus potentially reducing the possibility of mutant virus escape. This breadth of immune responses has been demonstrated by ability of antibodies induced by COVAXIN to neutralize the UK variant of SARS-Cov-2,” said Dr. Bruce Forrest, member of the vaccine scientific advisory board of Ocugen.

Interim Phase 3 Results as Reported by Bharat Biotech

Bharat Biotech’s Phase 3 clinical trial enrolled 25,800 participants between 18-91 years of age, including 2,433 over the age of 60 and 4,500 with comorbidities. The primary endpoint of the Phase 3 clinical trial is based on the first occurrence of PCR-confirmed symptomatic (mild, moderate or severe) COVID-19 with onset at least 14 days after the second study vaccination in serologically negative (to SARS-CoV-2) adult participants at baseline.

The first interim analysis is based on 43 cases, of which 36 cases of COVID-19 were observed in the placebo group versus 7 cases observed in the COVAXIN group, resulting in a point estimate of vaccine efficacy of 80.6%.

The interim analysis included a preliminary review of the safety database, which showed that severe, serious, and medically attended adverse events occurred at low levels and were balanced between vaccine and placebo groups. The trial’s conduct and monitoring are as per Good Clinical Practice guidelines and have been outsourced to IQVIA.

Analysis from the National Institute of Virology indicates that vaccine-induced antibodies can neutralize the UK variant strains and other heterologous strains, which has been published in bioRxiv.

Bharat Biotech expects to share further details of the trial results as additional data become available. An additional interim analysis is planned for 87 cases, and the final analysis is planned for 130 cases. All data from the second interim and final analyses will be shared via pre-publication servers as well as submitted to a peer-reviewed journal for publication.

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 forward-looking statements include information about qualitative assessments of available data, potential benefits, expectations for clinical trials, and anticipated timing of clinical trial readouts and regulatory submissions. This information involves risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as risks associated with preliminary and interim data (including the Phase 3 interim data that is the subject of this release), including the possibility of unfavorable new clinical trial data and further analyses of existing clinical trial data; the risk that clinical trial data are subject to differing interpretations and assessments, including during the peer review/publication process, in the scientific community generally, and by regulatory authorities; whether and when data from Bharat Biotech’s clinical trials will be published in scientific journal publications and, if so, when and with what modifications; whether the U.S. Food and Drug Administration (FDA) will be satisfied with the design of and results from preclinical and clinical studies of COVAXIN, which have been conducted by Bharat Biotech in India; whether and when any biologics license and/or emergency use authorization applications may be filed in the United States for COVAXIN; whether and when any such applications may be approved by the FDA; decisions by the FDA impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of COVAXIN in the United States, including development of products or therapies by other companies. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (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 and Head of Corporate Development
ir@ocugen.com

Media Contact:

For Ocugen:

LaVoieHealthScience
Emmie Twombly
etwombly@lavoiehealthscience.com
+1 857-389-6042

Lisa DeScenza
ldescenza@lavoiehealthscience.com

+1 978-395-5970

SOURCE: Ocugen

Energy Fuels (UUUU)(EFR:CA) – Rare Earth Element Outtake Agreement Signed. Is This Just The Beginning?

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Wednesday, March 03, 2021

Energy Fuels (UUUU)(EFR:CA)
Rare Earth Element Outtake Agreement Signed. Is This Just The Beginning?

As of April 24, 2020, Noble Capital Markets research on Energy Fuels is published under ticker symbols (UUUU and EFR:CA). The price target is in USD and based on ticker symbol UUUU. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Energy Fuels is the largest uranium producer in the U.S. and holds more production capacity and uranium resources than any other U.S. producer. The Company also produces vanadium. Headquartered in Colorado, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Facility in Wyoming, and the Alta Mesa ISR Facility in Texas. The producing White Mesa Mill is the only conventional uranium mill in the U.S. and has a licensed capacity of 8 million pounds of U3O8 per year. Nichols Ranch is in production and has a licensed capacity of 2 million pounds of U3O8 per year. Alta Mesa is currently on standby. Energy Fuels also owns several licensed and developed uranium and vanadium mines on standby and other projects in development.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

    Energy Fuels signs Rare Earth Element (REE) Outtake Agreement with Neo Performance Materials. Neo will take 80% of the rare earth products processed from monazite sand by UUUU’s White Mills plant. (See December 15, 2020 announcement regarding 3-year agreement with Chemours Co to supply monazite sands.) The agreement with NEO includes a put option for UUUU to sell the remaining 20% as well as a right of first refusal option for Neo for additional monazite purchases. The agreement will only use only 2% of White Mill capacity, leaving room to expand either monazite/rare earth operations or start up uranium operations.

    What are Rare Earth Elements and Monazite Sand? Rare earth elements are 17 elements that are becoming increasingly valuable for high-tech consumer products such as cellular telephones, computer hard drives, electric and hybrid vehicles and flat-screen monitors.  Demand for Thulium is especially high. Monazite sand, abundant around the world, is a reddish brown phosphate material that contains …



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 – Comtech Telecommunications (CMTL) – Closes Strategic Acquisition of UHP Networks Inc.

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Comtech Telecommunications Corp. Closes Strategic Acquisition of UHP Networks Inc.

 

Acquisition Will Enhance Market Leadership Position Across Mobile Backhaul, Maritime, Enterprise and Defense/Government Markets

MELVILLE, N.Y.–(BUSINESS WIRE)–March 3, 2021 — Comtech Telecommunications Corp. (“Comtech”) (NASDAQ: CMTL), a global leader in the advanced secure wireless communications market, announced today that it has closed the acquisition of UHP Networks Inc. (“UHP”), a leading provider of innovative and disruptive satellite ground station technology solutions. Founded in 2011, UHP is based in Canada and has developed revolutionary technology that is transforming the growing Very Small Aperture Terminal (“VSAT”) market.

UHP’s unique time divisional multiple access (“TDMA”) technology used in its VSAT platforms has software defined network functionality that offers best-in-class support for very large networks. With over 3 billion people globally who are not connected to any wireless services, the UHP acquisition allows Comtech’s customers to cost-effectively provide service to end-users with the quality and reassurance of the Comtech brand and service offerings.

Fred Kornberg, Chairman of the Board and Chief Executive Officer of Comtech said, “The acquisition of UHP fits perfectly with our strategy of offering the most robust and advanced wireless communications solutions for our global customers. We are delighted to acquire UHP and expect use of its incredible technology to expand globally for many years to come.”

All UHP employees are expected to join Comtech, including Vagan Shakhgildian, the President of UHP, who will also assume the role of Senior Vice President of Network Products, leading Comtech’s efforts to expand the presence of both HEIGHTSTM and UHP’s solutions in the mobile backhaul, maritime, enterprise and defense/government markets, which all have a growing need for high-speed satellite-based networks.

The initial up-front payment of approximately $24.0 million was paid in shares of Comtech common stock. An additional payment of $5.0 million (payable in cash and/or common stock at Comtech’s option) is due upon certain conditions being met, all of which are expected to occur within the next twelve months. The purchase agreement also provides for an earn-out payment of up to an additional $9.0 million (payable in cash and/or common stock at Comtech’s option) if certain agreed upon sales milestones are reached over an eighteen-month period. Approximately 1.0 million shares of Comtech’s common stock were issued at closing in respect of the initial payment and escrow arrangements under the terms of the purchase agreement.

Comtech is not purchasing UHP’s sister company headquartered in Moscow; however, Comtech will be able to immediately market and sell UHP products to customers in that region. Except for five months of incremental amortization of intangible assets that is expected to approximate $1.0 million, the acquisition will not materially impact Comtech’s fiscal 2021 consolidated net sales or Adjusted EBITDA guidance previously issued on December 9, 2020.

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in Melville, New York. With a passion for customer success, Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains forward-looking statements, including, but not limited to, information relating to Comtech’s and UHP’s future performance and financial condition, plans and objectives of Comtech’s management, and Comtech’s management’s assumptions regarding such future performance, financial conditions and plans. These forward-looking statements are subject to significant risks and uncertainties. Actual results could differ materially from such forward-looking information, and the forward-looking statements in this release could be affected by factors including, without limitation: the possibility that the expected synergies and benefits from the transaction will not be fully realized or will not be realized within the anticipated time periods; the risk that Comtech’s and UHP’s businesses will not be integrated successfully; the possibility of disruption from the transaction or other recent acquisitions making it more difficult to maintain business and operational relationships or retain key personnel; the possibility of disruption from recent acquisitions, making it more difficult to maintain business and operational relationships or retain key personnel; the risk that Comtech will be unsuccessful in implementing a tactical shift in its Government Solutions segment away from bidding on large commodity service contracts and toward pursuing contracts for its niche products with higher margins; the nature and timing of receipt of, and Comtech’s performance on, new or existing orders that can cause significant fluctuations in net sales and operating results; the timing and funding of government contracts; adjustments to gross profits on long-term contracts; risks associated with international sales; rapid technological change; evolving industry standards; new product announcements and enhancements, including the risks associated with expanding the sales of Comtech’s HeightsTM Network Platform (“HEIGHTS”); changing customer demands and or procurement strategies; changes in prevailing economic and political conditions; changes in the price of oil in global markets; changes in foreign currency exchange rates; risks associated with Comtech’s legal proceedings, customer claims for indemnification, and other similar matters; risks associated with Comtech’s obligations under its Credit Facility; risks associated with Comtech’s large contracts; risks associated with the COVID-19 pandemic; and other factors described in this and Comtech’s other filings with the Securities and Exchange Commission. Comtech undertakes no duty to update any forward-looking statements contained herein.

Media Contact:

Michael D. Porcelain, President and Chief Operating Officer
Comtech Telecommunications Corp.
631-962-7000

info@comtechtel.com

Source: Comtech Telecommunications Corp.

QuickChek – March 3, 2021

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Schwazze Completes Acquisition of Five Remaining Star Buds Dispensaries

Schwazze announced that it has closed on the asset purchase of the five Star Buds dispensaries located in Colorado that it had not already previously acquired.

Research, News & Market Data on Schwazze



Comtech Closes Strategic Acquisition of UHP Networks Inc.

Comtech Telecommunications Corp. announced that it has closed the acquisition of UHP Networks Inc., a leading provider of innovative and disruptive satellite ground station technology solutions.

Research, News & Market Data on Comtech

Watch recent presentation from NobleCon17



Partner Bharat Biotech Shares Phase 3 Interim Results of COVAXIN

Ocugen announced Phase 3 Interim Results of COVAXIN from Ocugen’s COVID-19 Vaccine Co-Development Partner, Bharat Biotech Demonstrating Efficacy of 81%

Research, News & Market Data on Ocugen

Watch recent presentation from NobleCon17



Palladium One Expands 2021 Drill Programs

Palladium One Mining Inc. announced that exploration activities in 2021 have been expanded at both Finland and Ontario, Canada

Research, News & Market Data on Palladium One Mining

Watch recent presentation from Palladium One



Chakana Copper Extends Huancarama Mineralization

Chakana Copper Corp announced results for two additional drill holes from the Huancarama Breccia Complex, within the Soledad Project in Ancash, Peru

Research, News & Market Data on Chakana Copper

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Release – Chakana Copper (CHKKF)(PERU:CA) – Extends Huancarama Mineralization

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Chakana Copper Extends Huancarama Mineralization 290m Below Surface – Soledad Project, Peru

 

Vancouver, B.C., March 3, 2021 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), is pleased to release results for two additional drill holes from the Huancarama Breccia Complex, within the Soledad Project in Ancash, Peru (Fig. 1). One hole (SDH20-165) was designed to test beneath the exposed H4 breccia, and a second hole (SDH20-166) was designed to explore a deeper extent of the Huancarama East breccia discovery (see figure 2, and news releases dated January 12, 25, and February 9, 2021). Since initiating drilling at Huancarama in late October 2020, thirty HQ diamond core holes have been completed.

Mineralized intervals from two additional holes at Huancarama include:

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307).

Both drill holes intercepted high-grade intervals (Figs. 2 and 3). Hole SDH20-165 was set up southeast of the H4 surface breccia and drilled to the northwest encountering a high-grade breccia interval of 0.27 g/t Au, 1.63% Cu, and 305.0 g/t Ag (4.41% Cu-eq) over 6.5m starting at 79m depth. This intercept is believed to be related to the H4 breccia exposed at surface and is interpreted to be a breccia dike, related to a larger, adjacent breccia body. Breccia dikes adjacent to larger breccia pipes are a common feature of the breccia pipes at Soledad.

Hole SDH20-166 was set up on the east side of the main Huancarama East breccia pipe and drilled steeply across the pipe in a west-northwest direction. This hole entered the main breccia body at 107.2m down hole (102m below surface) and exited the breccia pipe on the northwest side at 308.2m depth (290m below surface). A continuous mineralized interval of 175.6m with 0.42 g/t Au, 0.48% Cu, and 35.9 g/t Ag (1.06% Cu-eq) was encountered starting at 132.0m. Within this interval, a high-grade zone of 1.21 g/t Au, 1.35% Cu, and 95.6 g/t Ag (2.96% Cu-eq) over 29.0m starting at 132.0m depth was also encountered. Two additional breccia intercepts, also interpreted as breccia dikes related to the Huancarama East breccia pipe, were encountered at 402.7m and 483.4m depth, with the breccia pipe open at depth. Examples of mineralized drill core from these holes are shown in Figure 4.

David Kelley, President and CEO commented, “Hole SDH20-166 was successful in increasing the Huancarama East
breccia pipe to a depth of 290m below surface with mineralization open at depth. We had previously established
mineralization starting at surface and continuing to a depth of approximately 225m depth. As we have seen in the
other breccia pipe discoveries, these pipes are vertically extensive, and all are still open at depth. The high-grade
intercept of 29.0m with 1.21 g/t Au, 1.35% Cu, and 95.6 g/t Ag is particularly noteworthy as it provides additional
confirmation of the high-grade potential of this new discovery and is consistent with intercepts recently reported. It is
also encouraging to encounter high-grade mineralization in the first hole drilled around H4 on the western side of the complex. As we have seen in drilling other breccia pipes at Soledad, these high-grade intercepts are normally related
to adjacent larger mineralized breccia bodies. More drilling is warranted on the western side of Huancarama. and
drilling is ongoing at both Huancarama and Paloma with two drill rigs; we look forward to reporting additional results
soon.”

Huancarama Target Area and the Current Drill Program

The Huancarama Breccia Complex is located 300m south of and 400m above the deepest breccia intercept at Paloma. Within the complex there are five principal breccia bodies exposed at surface over approximately 200m horizontally (Fig. 5). There is a distinctive feature believed to be a collapse zone with dimensions of 50m by 30m. Unverified reports suggest that this may be due to small-scale mining. Two historic adits are in the complex, one trending north-northeast for 170m along the western side of H1 (Fig. 2), and a second shorter adit of 21m at H2. Surface sampling from the breccia bodies and channel sampling of the adits yielded strongly anomalous gold results (see news release dated November 19, 2019). In addition to several targets within the complex, numerous additional targets exist in the Huancarama and Paloma area.

Results reported here are part of the recently expanded 2021 drill program of 26,000m that is fully funded from the Company’s current treasury of $9.3M. Combined with the drilling in 2020 that started last August, a total of approximately 32,000m is anticipated through 2021. Of this, 6,634m have been reported in 34 drill holes. For the 26,000m of drilling planned in 2021, the Company will complete 16,000m of resource definition drilling, and 10,000m of exploration drilling testing new targets. This drill program and additional targets will be integral to the publication of a maiden resource in 2021.

Corporate Update

The Company announces that its second tranche of financing announced February 10, 2021 has been extended in order to facilitate the receipt of funds already committed over the next few days.

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the high-grade gold-copper-silver Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 33,353 metres of drilling has been completed to-date, testing nine (9) of twenty-three (23) confirmed breccia pipes with more than 92 total targets. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver. For more information on the Soledad project, please visit the website a www.chakanacopper.com.

Sampling and Analytical Procedures

Chakana follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Callao, Lima, Peru. Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24. Over limit silver, copper, lead and zinc are analyzed using the OG-46 procedure. Soil samples are analyzed by 4-acid (ME-MS61) and for gold by Fire Assay on a 30g sample (Au-ICP21).

Results of previous drilling and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are made available on Chakana’s SEDAR profile at www.sedar.com.

Qualified Person

David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

ON BEHALF OF THE BOARD
(signed) “David Kelley”
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone: 647 964 0292
Email: jjobin@chakanacopper.com

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

Forward-looking Statement Advisory: This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the “Project”), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

Figure 1 – View looking north showing breccia pipes and occurrences within the northern Soledad cluster. Pipes that have been drilled in previous campaigns are shown in red. Outcropping breccia pipes shown in green are the focus of the current drill campaign. Other pipes and occurrences remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.

Figure 2 – Map of the Huancarama Breccia Complex and drill hole lithology in holes completed to date. Red shape projected to surface represents tourmaline breccia pipe based on all holes drilled to date and lithology mapped in the underground tunnel. Black dotted outlines show surface expression of mapped breccias (H1-H5); white dashed line shows collapse zone. Location of section line for Figure 3 indicated.

Figure 3 – Section looking north-northeast highlighting the drill holes at Huancarama reported in this release. Light red 3D shape shows preliminary shape of breccia based on all drill holes to date and lithology mapped in the underground tunnel.

Figure 4 – Core photos from Huancarama: SDH20-165 (83.0m) tourmaline breccia with semi-massive chalcopyrite replacement; SDH20-166 (128.43m to 136.25m) contact between feldspar porphyry (earlier) and tourmaline breccia with sections of massive sulfide replacement by chalcopyrite and pyrite. Core diameter is 6.35cm (HQ) in all instances.

Figure 5 – Drone image looking northeast at the Huancarama Breccia Complex showing the five principal tourmaline breccia bodies exposed at surface (H1-H5), historic adit portal, and drill platforms. Note drill rig in center of image.

SOURCE: Chakana Copper

Vectrus (VEC) – Solid 4Q20 and FY2020 Even in Face of COVID

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Wednesday, March 03, 2021

Vectrus (VEC)
Solid 4Q20 and FY2020 Even in Face of COVID

Vectrus Inc is a U.S.-based company that provides services to the U.S. government. It operates as one segment and offer facility and logistics services and information technology and network communications services. The information technology and network communications capabilities consist of communications systems operations and maintenance, management and service support, systems installation and activation, system-of-systems engineering and software development, and mission support for the department of defense. The facility and logistics service include airfield management, ammunition management, civil engineering, communications, emergency services, life support activities, public works, security, transportation operations and others.

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

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

    4Q20 Results. Revenue of $355.3 million, compared to $365.2 million in 4Q19, but 4Q20 revenue was adversely impacted by $26 million due to COVID. On a sequential basis, revenue rose 0.8%. Adjusted EBITDA margin in the quarter was a record 5.0% or 5.1% excluding COVID impacts, up from 4.9% a year ago. Reported EPS was $1.42 and adjusted EPS was $1.18, versus $0.91 and $0.93, respectively, last year. We were at $363 million and $0.91, respectively.

    Expanding Portfolio.  Vectrus continues to expand its portfolio, both through customer diversification, but also by an expanded offering set and moving up the value chain. This bodes well for the Company going forward. U.S. Army related revenue was 69% of 2020 revenue, down from 84% in 2016 and Middle East derived revenue is down to 65% of overall, from 82% in 2016. Vectrus’ new business pipeline …



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. 

Pyxis Tankers Inc. (PXS) – Capital Raises Expand Public Market Float and Enhance Financial Flexibility

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Wednesday, March 03, 2021

Pyxis Tankers Inc. (PXS)
Capital Raises Expand Public Market Float and Enhance Financial Flexibility

Pyxis Tankers Inc is a United States-based international maritime transportation company which focuses on the product tanker sector. It owns a fleet which comprises of double hull product tankers employed under a mix of short- and medium-term time charters and spot charters. The fleet owned by the company includes Pyxis Epsilon, Pyxis Theta, Pyxis Malou, Pyxis Delta, Northsea Alpha, and Northsea Beta. Each of the vessels in the fleet is capable of transporting refined petroleum products, such as naphtha, gasoline, jet fuel, kerosene, diesel, fuel oil, and other liquid bulk items, such as vegetable oils and organic chemicals.

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

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

    Well-timed equity offering captured the upside move and creates financial flexibility. Public float materially improves. Recently, a private equity offering was priced at $1.75/share and 14.3 million shares were issued to raise $23.1 million, net. The offering expands the public market float to 53% and adds financial flexibility to potentially shift to growth after struggling to raise capital over the past few years. While there is no specific plan detailed yet, we expect added color when 4Q2020/FY2020 results are report on/about March 17th.

    Partial preferred conversions and warrant exercises add to share count and boost cash.  To boost liquidity in 4Q2020, a convertible preferred offering of $5.0 million was completed in October. Over the past several months, about $1.0 million of convertible preferred has converted into 733k shares. In addition, 144.5k warrants were exercised. Adjusting for the equity offering, convertible preferred …



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. 

Indonesia Energy Corp (INDO) – Rating downgraded with shares above our price target

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Wednesday, March 03, 2021

Indonesia Energy Corp (INDO)
Rating downgraded with shares above our price target

Indonesia Energy Corp Ltd is an oil and gas exploration and production company focused on Indonesia. It holds two oil and gas assets through its subsidiaries in Indonesia: one producing block (the Kruh Block) and one exploration block (the Citarum Block). The Kruh Block is located to the northwest of Pendopo, Pali, South Sumatra. The Citarum Block is located to the south of Jakarta.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

    We are lowering our rating on the shares of INDO as the shares have crossed and remain above our previous price target of $8.00. The shares of INDO have been strong as of late in response to rising oil prices. The shares have traded above our previous price objective for several weeks.

    We have adjusted our earnings and cash flow estimates to reflect our higher oil price assumptions.  We have raised our 2021 WTI oil price estimate to $60 from $45 and our 2022 estimate to $60 from $50 to reflect recent strength. We are maintaining our long-term oil price estimate of $50 at this time as we monitor the industries drilling response to higher prices. We now project a 2020 EPS loss of …



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. 

ACCO Brands Corporation (ACCO) – Note Offering

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Wednesday, March 03, 2021

ACCO Brands Corporation (ACCO)
Note Offering

ACCO Brands Corporation designs, manufactures, sources, markets, and sells office products, academic supplies, and calendar products primarily in the United States, Canada, Northern Europe, Brazil, Australia, and Mexico. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers office products, such as stapling, binding and laminating equipment, and related consumable supplies, as well as shredders and whiteboards; and academic products, including notebooks, folders, decorative calendars, and stationery products. It also provides private label products, as well as business machine maintenance and repair services. The company offers its business, academic, and calendar product lines under the Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra, Wilson Jones, and other brand names. In addition, it designs, sources, distributes, markets, and sells accessories for laptop and desktop computers, and tablets comprising security products; input devices, such as presenters, mice, and trackballs; ergonomic aids, including foot and wrist rests; docking stations; and other personal computers and tablet accessories under the Kensington, Microsaver, and ClickSafe brand names. The company sells its products to consumers and commercial end-users primarily through resellers, including traditional office supply resellers, wholesalers, mass merchandisers, and retailers, as well as directly to consumers through on-line and direct mail. ACCO Brands Corporation is headquartered in Lake Zurich, Illinois.

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

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

    Offering. On March 1st, ACCO announced a private offering of $575 million 4.25% senior unsecured notes due 2029. Proceeds from the offering will be used to redeem all $375 million 5.25% outstanding senior unsecured notes due December 2024. The balance of the funds will be used to repay a portion of the outstanding borrowings under the revolving credit facility, reportedly $180 million, and to pay fees and expenses associated with the offering. The company expects to close the offering on March 15, 2021, subject to customary closing conditions.

    Positive.  Given the Company is swapping out higher interest cost debt with lower cost debt, extending the maturity profile, and feeing up some portion of the credit facility, we view the offering as a positive for ACCO. If we assume $180 million is used to pay down the revolver, we calculate the new weighted average interest rate to be about 3.58%, compared to 3.77% at year-end. There will be about …



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 – Palladium One Mining (NKORF)(PDM:CA) – Expands 2021 Drill Programs

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Palladium One Expands 2021 Drill Programs to 27,000 Meters, Exploration Budget to $11.5 Million and Provides LK Project Update

 

March 3, 2021 – Toronto, Ontario – Planned exploration activities in 2021 have been expanded at both the palladium dominant Läntinen Koillismaa (“LK”) PGE-Ni-Cu project in Finland and the Tyko Nickel-Copper project in Ontario, Canada, said Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today.

Derrick Weyrauch, President and CEO of Palladium One said, “A cash balance of $19.7 allows for the acceleration of exploration activities and expansion of the initial 2021 exploration budget to $11.5 million. The expanded program in Finland lets us complete resource definition drilling at the Kaukua South and Haukiaho zones while also initiating drilling at potential eastern and western extensions of Kaukua South. At the Tyko project, our expanded program will be centered on new target development, infill drilling, and expansion of known high-grade nickel mineralization at the Smoke Lake zone.”

Expanded 2021 Program Details

  • Initial budget $11.5 million.
  • Planned drilling 27,000 meters (Finland – 23,000 meters, Canada – 4,000 meters)
  • Planned drilling in Finland includes completion of the 17,500-meter Phase II drill program in preparation of an initial NI43-101 resource estimate at the Kaukua South zone (H1 2022), 2,000 meters of infill drilling at the Haukiaho zone in preparation for an initial NI43-101 resource estimate and 6,500 meters of reconnaissance drilling for potential strike length expansions at Kaukua South.
  • Induced Polarization and Magnetic surveys on potential west and eastern strike extension of Kaukua South.
  • Phase II metallurgical testing at LK project.
  • Borehole Electromagnetic (“BHEM”), horizontal loop EM and regional airborne Magnetic and EM surveys at the Tyko project.
  • Expected cash balance in excess $8 million at yearend, thereby providing sufficient funding for additional 2021 program expansions as may be appropriate, and program extension into 2022.

The Company is also planning to undertake regional exploration work during 2021 including soil surveys and mapping and may further modify its 2021 plans as results are received.

Exploration Update – Finland

In late February, assay results for holes LK21-034 through 036 from the Kaukua South zone were received but are currently under review due to assay results being above three standard deviations on QA/QC standards for nickel and copper analysis. These holes will be released once QA/QC issues have been resolved.

Additional drilling at Murtolampi continues to delineate significant at surface mineralization, indicating potential for a valuable satellite pit two kilometers northeast of the Kaukua deposit. Three holes were drilled on the Murtolampi zone (LK20-039 through 041) and returned at or near surface mineralization, including drill hole LK20-041 which returned 64.0 metres at 1.38 g/t Pd_Equivalent (“Pd_Eq.”), from 1.5 meters down hole and having a core interval of 6.0 m at 3.19 g/t Pd_Eq starting 54.5 meters down hole.

The core Murtolampi zone has now been delineated over 150 meters and is interpreted to extend over 600 meters (Figure 1 and 2). with intercepts of up to 78.5 metres at 2.0 g/t Pd_Eq. in hole LK20-026, (press release November 16, 2020).

Murtolampi remains open for expansion to the southwest. Induced Polarization and Magnetic surveys suggest that favourable peridotite hosts rocks continue toward hole LK20-024 which returned 3.0 m at 1.41 g/t Pd_Eq. within 21.0 m at 0.85 g/t Pd_Eq. (press release November 16, 2020) (Figure 2). Further drilling is planned to infill this area.

Holes LK21-037 and LK21-038 were reconnaissance holes drilled to test IP and/or magnetic anomalies away from known mineralized areas. Hole LK21-037 intersected mafic to intermediate volcanic rocks, and LK21-038 granophyric altered felsic volcanic rocks. Neither hole intersected the target mafic-ultramafic rocks of the Koillismaa Complex.

Figure 1. Greater Kaukua area plan map, showing current NI 43-101 Kaukua Deposit conceptual pit outline (dashed yellow), Kaukua South and Murtolampi IP chargeability anomalies, and Palladium One drill hole locations.

Figure 2. Murtolampi Long section looking northwest, showing IP Chargeability isoshells and Pd_Eq. grade, resumed Phase I drill holes labelled in red.

Table 1: Murtolampi and Reconnaissance Phase 2 Drill Results

* Reported widths are “drilled widths” not true widths.
** Orange shaded values previously released (see press release August 25, 2020, November 16, 2020)

*Palladium Equivalent

Palladium equivalent is calculated using US$1,100 per ounce for palladium, US$950 per ounce for platinum, US$1,300 per ounce for gold, US$6,614 per tonne for copper, and US$15,4332 per tonne for nickel. This calculation is consistent with the calculation in the Company’s September 2019 NI 43-101 Kaukua resource estimate.

QA/QC

The Phase I drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company.

Drill core samples were split using a rock saw by Company staff, with half retained in the core box and stored indoors in a secure facility, in Taivalkoski, Finland. The drill core samples were transported by courier from the Company’s core handling facility in Taivalkoski, Finland, to ALS Global (“ALS”) laboratory in Outokumpu, Finland. ALS, is an accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or ICP-AES finish. Multi-element analyses, including copper and nickel were analysed by four acid digestion using 0.25 grams with an ICP-AES finish.

Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. Results are analyzed for acceptance at the time of import. All standards associated with the results in this press release were determined to be acceptable within the defined limits of the standard used

Qualified Person

The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43- 101.

About Palladium One

Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-coppernickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladiumdominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit resource.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information contact:
Derrick Weyrauch, President & CEO
Email:
info@palladiumoneinc.com

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

This press release includes “forward-looking information” that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company’s common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company’s annual information form dated April 29, 2020 and filed under the Company’s profile on SEDAR at www.sedar.com. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

Source: Palladium One Mining Inc.