Release – Esports Entertainment Group Announces Private Placement of 35 Million Convertible Notes with 17.50 Conversion Price

 


Esports Entertainment Group Announces Private Placement of $35 Million Convertible Notes with $17.50 Conversion Price

 

Newark, New Jersey–(Newsfile Corp. – May 28, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (the “Company”) today announced that it has entered into a definitive agreement with an institutional investor for the sale of $35 million in principal amount of 8.0% senior convertible notes with a maturity date of two years following the date of issuance (“Notes”) in a private placement. The Notes are convertible into shares of common stock of the Company at a conversion price of $17.50 per share.

In connection with the private placement, the Company is issuing to the investor Series A warrants to purchase up to 2,000,000 shares of common stock and Series B warrants to purchase up to 2,000,000 shares of common stock. The Series A and Series B warrants have an exercise price of $17.50 and the Series A warrants are exercisable for four years following the date of issuance and the Series B warrants are exercisable for two years following the date of issuance. The Series B warrants are not exercisable until vesting under certain conditions. The Company has the right to call the Series A and Series B warrants, subject to the satisfaction of certain conditions for 30 consecutive trading days.

Maxim Group LLC is acting as the sole placement agent in connection with the offering.

The gross proceeds of the offering are expected to be approximately $35 million before deducting placement agent fees and other offering expenses. The Company plans to use the net proceeds of the offering primarily for working capital and acquisition related expenses. The offering is expected to close on or about June 1, 2021, subject to customary closing conditions.

The Notes and warrants (and shares of common stock underlying the Notes and warrants) are being offering in a private placement and have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from such registration requirements. Pursuant to a registration rights agreement, the Company has agreed to file a registration statement with the SEC registering the resale of the shares of common stock underlying the Notes and warrants issued in the private placement.

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


About Esports Entertainment Group

Esports Entertainment Group, Inc. is an esports and iGaming company. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.


FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media & Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

QuickChek – May 28, 2021



Esports Entertainment Group Announces Private Placement of $35 Million Convertible Notes with $17.50 Conversion Price

Esports Entertainment Group announced that it has entered into a definitive agreement with an institutional investor for the sale of $35 million in principal amount of 8.0% senior convertible notes

Research, News & Market Data on Esports Entertainment Group

Watch recent presentation from EEG



TAAL Announces 2021 First-Quarter Financial Results

TAAL Distributed Information Technologies announced its financial results for the three months ended March 31, 2021

Research, News & Market Data on TAAL

Watch recent presentation from NobleCon17



Enterprise Blockchain Processor, TAAL, becomes Hut 8’s Newest Hosting Services Partner

Hut 8 Mining Corp. announced its latest hosting partnership with Enterprise Blockchain transaction processor TAAL Distributed Information Technologies Inc.

Research, News & Market Data on TAAL

Watch recent presentation from NobleCon17



Energy Fuels Announces Election of Directors

Energy Fuels announced the results of the election of directors at its annual and special meeting of shareholders held virtually on May 26, 2021

Research, News & Market Data on Energy Fuels

Watch recent presentation from NobleCon17



Cocrystal Pharma Announces the Passing of Chairman, CEO and Co-founder Dr. Gary Wilcox

Cocrystal Pharma announced that Gary Wilcox, Ph.D., Chairman, CEO and co-founder, suddenly passed away Wednesday, May 26 at the age of 74

Research, News & Market Data on Cocrystal Pharma

Watch recent presentation from NobleCon17

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CoreCivic, Inc. (CXW) – A Solution to USMS Renewals Room for Optimism

Friday, May 28, 2021

CoreCivic, Inc. (CXW)
A Solution to USMS Renewals? Room for Optimism?

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. We are a publicly traded real estate investment trust and the nation’s largest owner of partnership correctional, detention and residential reentry facilities. We also believe we are the largest private owner of real estate used by U.S. government agencies. The Company has been a flexible and dependable partner for government for more than 35 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Kevin Wahle, Research Associate, Noble Capital Markets, Inc.

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

    Potential Solution. Yesterday afternoon local news reported that an agreement had been reached to keep USMS inmates in CoreCivic’s Northeast Ohio facility. While we have not been able to confirm the USMS signed off on the agreement, if the USMS signs off on this, it would remove a significant obstacle for CoreCivic, in our view.

    The Report.  According to a report on ww.cleveland.com, the Mahoning County commissioners approved a three-year contract with CoreCivic. In essence, the county Sheriff’s office would contract with CoreCivic to monitor the USMS inmates, with the USMS reimbursing the Sheriff’s office for the cost of the contract. This provides an intermediary between the USMS and CoreCivic. Contract details were not …



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. 

Esports Entertainment Group Announces Private Placement of $35 Million Convertible Notes with $17.50 Conversion Price

 


Esports Entertainment Group Announces Private Placement of $35 Million Convertible Notes with $17.50 Conversion Price

 

Newark, New Jersey–(Newsfile Corp. – May 28, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (the “Company”) today announced that it has entered into a definitive agreement with an institutional investor for the sale of $35 million in principal amount of 8.0% senior convertible notes with a maturity date of two years following the date of issuance (“Notes”) in a private placement. The Notes are convertible into shares of common stock of the Company at a conversion price of $17.50 per share.

In connection with the private placement, the Company is issuing to the investor Series A warrants to purchase up to 2,000,000 shares of common stock and Series B warrants to purchase up to 2,000,000 shares of common stock. The Series A and Series B warrants have an exercise price of $17.50 and the Series A warrants are exercisable for four years following the date of issuance and the Series B warrants are exercisable for two years following the date of issuance. The Series B warrants are not exercisable until vesting under certain conditions. The Company has the right to call the Series A and Series B warrants, subject to the satisfaction of certain conditions for 30 consecutive trading days.

Maxim Group LLC is acting as the sole placement agent in connection with the offering.

The gross proceeds of the offering are expected to be approximately $35 million before deducting placement agent fees and other offering expenses. The Company plans to use the net proceeds of the offering primarily for working capital and acquisition related expenses. The offering is expected to close on or about June 1, 2021, subject to customary closing conditions.

The Notes and warrants (and shares of common stock underlying the Notes and warrants) are being offering in a private placement and have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from such registration requirements. Pursuant to a registration rights agreement, the Company has agreed to file a registration statement with the SEC registering the resale of the shares of common stock underlying the Notes and warrants issued in the private placement.

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


About Esports Entertainment Group

Esports Entertainment Group, Inc. is an esports and iGaming company. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.


FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media & Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

TAAL Announces 2021 First-Quarter Financial Results


TAAL Announces 2021 First-Quarter Financial Results

 

Vancouver, British Columbia; May 27, 2021 – TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC:TAALF) (“TAAL” or the “Company”), a vertically integrated blockchain infrastructure and service provider for enterprise, announced today its financial results for the three months ended March 31, 2021. These filings are available for review on the Company’s SEDAR profile at www.sedar.com and on the Company’s website at www.taal.com. All financial information in this press release is reported in Canadian dollars unless otherwise indicated.

BSV Holdings

  • As of May 25, 2021, TAAL had approximately 84,000 BitcoinSV in treasury.
    First Quarter Highlights
  • Hashing operations recommenced in January 2021 resulting in gross revenues of $0.9 million for the quarter, representing approximately 89% of gross revenues.
  • Income before operating expenses was $5.3 million for the quarter, which included a realized gain of $1.9 million on the Company’s sale of digital assets and unrealized gains of $2.9 million.
  • Operating costs totaled $5.1 million for the quarter, resulting in net positive income from operations.
  • On March 18, 2021, the Company closed a public equity offering for aggregate gross proceeds of approximately $40.0 million.
    Down payments for hashing equipment and hosting provider services of $6.3 million were made during the quarter.

Subsequent to the Quarter

The Company continues to make progress on its plans to deploy additional digital asset hashing equipment in Canada, and, as announced on May 21, 2021, recently purchased an additional 3,000 machines, which are expected to be fully operational by the first quarter of 2022.

TAAL has expanded its in-house research and development team, which will result in new TAAL products and services launches anticipated in Q3 2021. The Company will continue to bring additional team members on board to meet development and client needs.

“We have made significant progress this quarter towards our strategy to be the leading blockchain infrastructure and service provider for enterprise, and we are just getting started. BitcoinSV Blockchain transaction volume continues to accelerate, as of May 19, 2021 volumes now exceed BTC by up to 30% according to CoinDance. Our team is incredibly excited about these developments and our capacity to deliver transformative benefit for enterprise,” comments Stefan Matthews, TAAL Executive Chairman and Chief Executive Officer.

About TAAL Distributed Information Technologies Inc.

TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the BitcoinSV platform, and developing, operating, and managing distributed computing systems for enterprise users.

Visit TAAL online at www.taal.com

The CSE, nor its Regulation Services Provider, accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain statements included in this news release constitute “forward-looking information” as defined under applicable Canadian securities legislation. The words “will”, “intends”, “expects” and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes but is not limited to statements regarding: the expected deployment of additional computing power and capacity; and BSV transaction volumes. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include the future acceptance of Bitcoin SV and other digital assets and risks related to information processing using those platforms, the ability for TAAL to leverage intellectual property into viable income streams and other risks set out in TAAL’s Annual Information Form dated April 30, 2021 under the heading “Risk Factors” and elsewhere in TAAL’s continuous disclosure filings available on SEDAR at www.sedar.com. Given these risks, undue reliance should not be placed on the forward-looking information contained herein. Other than as required by law, TAAL undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.

For further information contact:
Matt Whitcomb, Investor Relations, matthew@taal.com 604-260-6142
Stefan Matthews, CEO & Executive Chairman, info@taal.com
Chris Naprawa, President, chris@taal.com

Release – Energy Fuels Announces Election of Directors

 

 


Energy Fuels Announces Election of Directors

 

LAKEWOOD, Colo.May 27, 2021 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR(“Energy Fuels” or the “Company”), the leading uranium producer in the United States, announces the results of the election of directors at its annual and special meeting of shareholders (the “Meeting“) held virtually on May 26, 2021.

The eight (8) nominees proposed by management for election as directors were elected by the shareholders of the Company, through a combination of votes by proxy and electronic poll, as follows:

Nominee

Votes For

% For

Votes Withheld

% Withheld

J. Birks Bovaird

16,494,553

85.70%

2,753,377

14.30%

Mark S. Chalmers

18,494,309

96.08%

753,621

3.92%

Benjamin Eshleman III

14,978,861

77.82%

4,269,069

22.18%

Barbara A. Filas

18,358,186

95.38%

889,744

4.62%

Bruce D. Hansen

16,600,408

86.25%

2,647,522

13.75%

Dennis L. Higgs

18,275,526

94.95%

972,404

5.05%

Robert W. Kirkwood

15,876,006

82.48%

3,371,924

17.52%

Alexander Morrison

16,631,280

86.41%

2,616,650

13.59%

About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and expects to commence commercial production of REE carbonate in 2021. Its corporate offices are in Lakewood, Colorado near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the Company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is www.energyfuels.com.

SOURCE Energy Fuels Inc.

For further information: Energy Fuels Inc., Curtis Moore – VP – Marketing & Corporate Development, (303) 974-2140 or Toll free: (888) 864-2125, investorinfo@energyfuels.com, www.energyfuels.com

Release – TAAL Announces 2021 First-Quarter Financial Results


TAAL Announces 2021 First-Quarter Financial Results

 

Vancouver, British Columbia; May 27, 2021 – TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC:TAALF) (“TAAL” or the “Company”), a vertically integrated blockchain infrastructure and service provider for enterprise, announced today its financial results for the three months ended March 31, 2021. These filings are available for review on the Company’s SEDAR profile at www.sedar.com and on the Company’s website at www.taal.com. All financial information in this press release is reported in Canadian dollars unless otherwise indicated.

BSV Holdings

  • As of May 25, 2021, TAAL had approximately 84,000 BitcoinSV in treasury.
    First Quarter Highlights
  • Hashing operations recommenced in January 2021 resulting in gross revenues of $0.9 million for the quarter, representing approximately 89% of gross revenues.
  • Income before operating expenses was $5.3 million for the quarter, which included a realized gain of $1.9 million on the Company’s sale of digital assets and unrealized gains of $2.9 million.
  • Operating costs totaled $5.1 million for the quarter, resulting in net positive income from operations.
  • On March 18, 2021, the Company closed a public equity offering for aggregate gross proceeds of approximately $40.0 million.
    Down payments for hashing equipment and hosting provider services of $6.3 million were made during the quarter.

Subsequent to the Quarter

The Company continues to make progress on its plans to deploy additional digital asset hashing equipment in Canada, and, as announced on May 21, 2021, recently purchased an additional 3,000 machines, which are expected to be fully operational by the first quarter of 2022.

TAAL has expanded its in-house research and development team, which will result in new TAAL products and services launches anticipated in Q3 2021. The Company will continue to bring additional team members on board to meet development and client needs.

“We have made significant progress this quarter towards our strategy to be the leading blockchain infrastructure and service provider for enterprise, and we are just getting started. BitcoinSV Blockchain transaction volume continues to accelerate, as of May 19, 2021 volumes now exceed BTC by up to 30% according to CoinDance. Our team is incredibly excited about these developments and our capacity to deliver transformative benefit for enterprise,” comments Stefan Matthews, TAAL Executive Chairman and Chief Executive Officer.

About TAAL Distributed Information Technologies Inc.

TAAL Distributed Information Technologies Inc. delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the BitcoinSV platform, and developing, operating, and managing distributed computing systems for enterprise users.

Visit TAAL online at www.taal.com

The CSE, nor its Regulation Services Provider, accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain statements included in this news release constitute “forward-looking information” as defined under applicable Canadian securities legislation. The words “will”, “intends”, “expects” and similar expressions are intended to identify forward-looking information, although not all forward-looking information will contain these identifying words. Specific forward-looking information contained in this news release includes but is not limited to statements regarding: the expected deployment of additional computing power and capacity; and BSV transaction volumes. These statements are based on factors and assumptions related to historical trends, current conditions and expected future developments. Since forward-looking information relates to future events and conditions, by its very nature it requires making assumptions and involves inherent risks and uncertainties. TAAL cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from expectations. Material risk factors include the future acceptance of Bitcoin SV and other digital assets and risks related to information processing using those platforms, the ability for TAAL to leverage intellectual property into viable income streams and other risks set out in TAAL’s Annual Information Form dated April 30, 2021 under the heading “Risk Factors” and elsewhere in TAAL’s continuous disclosure filings available on SEDAR at www.sedar.com. Given these risks, undue reliance should not be placed on the forward-looking information contained herein. Other than as required by law, TAAL undertakes no obligation to update any forward-looking information to reflect new information, subsequent or otherwise.

For further information contact:
Matt Whitcomb, Investor Relations, matthew@taal.com 604-260-6142
Stefan Matthews, CEO & Executive Chairman, info@taal.com
Chris Naprawa, President, chris@taal.com

Allegiant Gold Allegiant Gold Ltd (AUXXF)(AUAU:CA) – High-Grade Drill Results Could Be a Game Changer for Eastside

Thursday, May 27, 2021

Allegiant Gold

Allegiant Gold Ltd (AUXXF)(AUAU:CA)
High-Grade Drill Results Could Be a Game Changer for Eastside

Allegiant Gold Ltd is a gold exploration company. Its project profile consists of Bolo, Browns Canyon, Clara Moro, Four Metals, Monitor Hills, Red Hills, Silver Dome, West Goldfield, White Horse Flats, Mogollon, Eastside, Dutch Flat, and others.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

    Drill results from the Original Pit Zone (OPZ). Allegiant released results from its 9-hole drill program, representing 3,673 meters of drilling, at the Original Pit Zone at its Eastside project in Nevada. Strong gold intercepts were reported for Holes 239, 243, 244 and 245. Mineralization was encountered in 7 of the 9 holes. Hole 243, a 100-meter step-out from the closest hole in the OPZ, included 2.55 grams of gold per tonne over 147.8 meters and 3.17 grams of gold per tonne over 117.3 meters. Hole 239 included 111.3 meters of 1.45 grams of gold per tonne, including 3.1 meters of 39 grams of gold per tonne at the bottom of the hole.

    More drilling at the OPZ may be warranted.  While the Eastside project is generally conceptualized as a low-grade, bulk tonnage open pit mining scenario, the impressive grades may signal a game-changer for project economics. While there are significant opportunities to continue to develop the original pit zone by expanding the permitted area, recent results indicate more drilling may be warranted …



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. 

Euroseas Ltd. (ESEA) – Longer Charters at Higher Rates Drive Upgrade to Outperform

Thursday, May 27, 2021

Euroseas Ltd. (ESEA)
Longer Charters at Higher Rates Drive Upgrade to Outperform

Euroseas Ltd. provides ocean-going transportation services worldwide. The company owns and operates containerships that transport dry and refrigerated containerized cargoes, including manufactured products and perishables; and drybulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers. As of March 31, 2017, it had a fleet of seven containerships; and six drybulk carriers, including three Panamax drybulk carriers, one Handymax drybulk carrier, one Kamsarmax drybulk carrier, and one Ultramax drybulk carrier. The company was founded in 2005 and is based in Maroussi, Greece.

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

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

    Adjusted 1Q2021 EBITDA of $5.7 million in line with expectations with higher TCE rates offsetting higher opex. Reported adjusted EBITDA was $5.6 million. TCE revenue of $14.7 million increased from $12.5 million in 4Q2020 due to a $1,637 move up in TCE rates to $12,134/day from $10,497/day, higher shipping days of 1,219 versus 1,190 in 4Q2020 and lower idle days of 41 versus 138 in 4Q2020.

    Fine-tuning 2021 EBITDA estimate to reflect to reflect 1Q2021 results and updated forward cover.  We are moving 2021 EBITDA to $40.6 million based on TCE rates of $16.7k/day from $37.5 million based on TCE rates of $16.2k/day. Visibility is very high with 89% of available 2021 days booked at $15.2k/day due to longer charters signed at higher TCE rates …



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. 

Release – Great Lakes Announces Participation in the Noble Capital Markets Virtual Road Show


Great Lakes Announces Participation in the Noble Capital Markets Virtual Road Show

 

HOUSTON, May 26, 2021 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes”) (NASDAQ: GLDD), the largest provider of dredging services in the United States announced their participation in Noble Capital Markets Virtual Road Show Series, presented by Channelchek, scheduled for June 2, 2021.

The virtual road show will feature a corporate presentation from Great Lakes Dredge & Dock Corporation’s President and Chief Executive Officer Lasse Petterson and Chief Financial Officer Mark Marinko, followed by a Q&A session proctored by Noble Senior Research Analyst Poe Fratt, featuring questions submitted by the audience.

The live broadcast of the virtual road show is scheduled for Wednesday, June 2, 2021, at 1 PM EDT. Registration is free and open to all investors, at any level. Register Here. Noble’s research, as well as news and advanced market data on Great Lakes is available on Channelchek.

The Company

Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, the Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprising over 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Noble Capital Markets

Noble Capital Markets, Inc. was incorporated in 1984 as a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed small / microcap companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 36 years, Noble has raised billions of dollars for these companies and published more than 45,000 equity research reports.
www.noblecapitalmarkets.com email: contact@noblecapitalmarkets.com

Channelchek

Channelchek (.com) is a comprehensive investor-centric portal – featuring more than 6,000 emerging growth companies – that provides advanced market data, independent research, balanced news, video webcasts, exclusive c-suite interviews, and access to virtual road shows. The site is available to the public at every level without cost or obligation. Research on Channelchek is provided by Noble Capital Markets, Inc., an SEC/FINRA registered broker-dealer since 1984.
www.channelchek.com email: contact@channelchek.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) or in releases made by the Securities and Exchange Commission (the “SEC”), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. These cautionary statements are being made pursuant to the Exchange Act and the PSLRA with the intention of obtaining the benefits of the “safe harbor” provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future events.

Although Great Lakes believes that its plans, intentions and expectations reflected in this press release are reasonable, actual events could differ materially. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

Release – Ocugen On Track to Submit Emergency Use Authorization Application to U.S. FDA for its COVID-19 Vaccine Candidate COVAXIN


Ocugen On Track to Submit Emergency Use Authorization Application to U.S. FDA for its COVID-19 Vaccine Candidate, COVAXIN™

 

  • Active discussions with FDA related to COVAXIN initiated late last year
  • Master file submitted to FDA on March 26, 2021; awaiting feedback from FDA

MALVERN, Pa., May 26, 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 confirmed its plan to submit its Emergency Use Authorization (EUA) application for COVAXIN to the U.S. Food & Drug Administration (FDA) in June.

“Since we have been in discussions with the FDA since late last year, we do not believe that the FDA’s recently revised guidance regarding EUAs raises any concerns about our ability to submit the EUA for COVAXIN as planned, which is currently in process and which we expect to submit to the FDA in June. We believe that the FDA’s new guidance confirms that Ocugen continues to meet all criteria for submission of an EUA. Once the EUA application has been submitted, Ocugen intends to commence pre-biologics license application (BLA) discussions with the FDA,” said Dr. Shankar Musunuri, Chairman of the Board, Chief Executive Officer, and Co-founder of Ocugen.

“FDA’s guidance refers specifically to vaccines based on the spike protein. COVAXIN is a unique yet traditional vaccine using an inactivated version of the whole virus with a novel adjuvant that provides a broadly protective immune response beyond the spike protein, offering potential effectiveness against multiple existing and emerging variants and reducing the possibility of mutant virus escape,” said Dr. Bruce Forrest, Acting Chief Medical Officer and member of the vaccine scientific advisory board of Ocugen.

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. Based on a traditional vaccine platform that has a long-established safety profile, COVAXIN continues to show strong results in all the studies conducted to date including a vaccine efficacy rate of 78% overall efficacy and 100% in severe COVID-19 disease, including hospitalizations, in second interim results of Bharat Biotech’s Phase 3 clinical trial.

In addition to generating strong immune response against multiple antigens, COVAXIN has been 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 published safety data from separate studies for several other vaccines, COVAXIN is packaged in multi-dose vials that can be stored at 2-8?C.

COVAXIN studies show potential effectiveness against three key variants of SARS-CoV-2. Scientists at the Indian Council of Medical Research (ICMR)-National Institute of Virology, using an in-vitro plaque reduction neutralization assay, have found that COVAXIN-vaccinated sera effectively neutralized the Brazil variant of SARS-CoV-2, B.1.128.2, the UK variant, B.1.1.7, as well as the Indian double mutant variant, B.1.617. These studies suggest that COVAXIN vaccination may be effective against multiple SARS-CoV-2 variants.

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 save lives from 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 U.S. market. For more information, please visit www.ocugen.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 referred to in this press 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
CFO and Head of Corp. Dev.
IR@Ocugen.com

Media Contact:
LaVoieHealthScience
Lisa DeScenza
ldescenza@lavoiehealthscience.com
+1 9783955970 

Release – PDS Biotechnology Establishes Partnership With Head and Neck Cancer Alliance

 


PDS Biotechnology Establishes Partnership With Head and Neck Cancer Alliance

 

Strategic partnership offers both organizations a way to share information about emerging treatment options with clinicians and patients battling HPV-attributed head and neck cancer

FLORHAM PARK, N.J., May 27, 2021 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing a novel therapy for HPV-associated cancer based on the Company’s proprietary Versamune® T-cell activating technology, and the Head and Neck Cancer Alliance (HNCA) today announced a partnership. This collaboration seeks to raise awareness of new and developing treatment options, including available clinical trials, for patients with HPV-attributed head and neck cancer diagnoses.

Unlike many other cancers, the incidence of head and neck cancer is increasing in the United States, primarily due to rates of infection with human papillomavirus (HPV). Because head and neck cancer is often diagnosed at later stages, treatment is often more difficult and more invasive. PDS Biotech is working to change the landscape of HPV-attributed head and neck cancer treatment with their lead candidate, PDS0101, which uses Versamune® to activate the immune system to recognize HPV-associated cancer cells and respond by inducing T-cells to attack and destroy them.

Partnerships such as the one between PDS Biotech and HNCA are becoming more common in the patient advocacy and biotechnology spaces. By combining their efforts, partners can more efficiently spread the word about emerging treatments, clinical trials, and additional options for patients who may not have responded to traditional therapies.

“Raising awareness of treatment options for patients and their families who are dealing with head and neck cancer that has returned or spread is critical,” said Dr. Lauren V. Wood, Chief Medical Officer of PDS Biotech. “Treatment options for these patients can be limited and the search often expands to include investigational therapies being studied in clinical research. We’re excited to partner with the HNCA to raise awareness of these options for patients and physicians.”

“There are exciting things happening in clinical research for head and neck cancer therapies,” said Amanda Hollinger, Executive Director of HNCA. “Partnering with companies like PDS Biotech who are leading the way forward and working together to raise awareness of new and developing treatment options brings hope to patients, survivors, and families of those battling cancer, as well as offering new avenues of treatment for clinicians.”

Head and neck cancer refers to cancers that arise in the mouth, voice box, throat, sinuses, nasal cavity, or salivary glands. Worldwide in 2021, there will be more than 650,000 new cases of oral, head and neck cancer diagnosed and approximately 330,000 deaths from these cancers. Over the last few decades, there has been a 225% increase in HPV-attributed head and neck cancer diagnoses. In 2018, head and neck cancer surpassed cervical cancer as the most common HPV-attributed cancer in the United States.

About PDS Biotechnology

PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of cancer immunotherapies and infectious disease vaccines based on the Company’s proprietary Versamune® T-cell activating technology platform. Our Versamune®-based products overcome the limitations of current immunotherapy by inducing in vivo, large quantities of high-quality, highly potent polyfunctional tumor specific CD4+ helper and CD8+ killer T-cells. PDS Biotech has developed multiple therapies, based on combinations of Versamune® and disease-specific antigens, designed to train the immune system to better recognize diseased cells and effectively attack and destroy them. Our immuno-oncology product candidates are initially being studied in combination therapy to potentially enhance efficacy without compounding toxicity across a range of cancer types. The company’s lead investigational cancer immunotherapy product PDS0101 is currently in Phase 2 clinical studies in HPV-associated cancers. To learn more, please visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.

About PDS0101

PDS Biotech’s lead candidate, PDS0101, combines the utility of the Versamune® platform with targeted antigens in HPV-expressing cancers.  In partnership with Merck and Co., PDS Biotech is evaluating a combination of PDS0101 and KEYTRUDA® in a Phase 2 study in first-line treatment of recurrent or metastatic head and neck cancer. PDS Biotech is also conducting two additional Phase 2 studies in advanced HPV-associated cancers and advanced localized cervical cancer with the National Cancer Institute (NCI) and The University of Texas MD Anderson Cancer Center, respectively.

About Head and Neck Cancer Alliance
HNCA’s mission is to advance prevention, detection, treatment and rehabilitation of oral, head and neck cancer through public awareness, research, advocacy and survivorship. As the one-stop center for patients, survivors, and family members seeking information about head and neck cancer, HNCA provides support to head and neck cancer patients throughout the year and works in partnership with healthcare, corporate, and community partners to raise awareness of ongoing research in head and neck oncology and educate the public in the disease process, treatment and prevention of oral, head and neck cancers. Led by a Board of Directors with expertise in head and neck surgery, research, and survivorship, HNCA develops strategic priorities to tackle the challenges facing those impacted by this disease.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning PDS Biotechnology Corporation (the “Company”) and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” “forecast,” “guidance”, “outlook” and other similar expressions among others. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the Company’s ability to protect its intellectual property rights; the Company’s anticipated capital requirements, including the Company’s anticipated cash runway and the Company’s current expectations regarding its plans for future equity financings; the Company’s dependence on additional financing to fund its operations and complete the development and commercialization of its product candidates, and the risks that raising such additional capital may restrict the Company’s operations or require the Company to relinquish rights to the Company’s technologies or product candidates; the Company’s limited operating history in the Company’s current line of business, which makes it difficult to evaluate the Company’s prospects, the Company’s business plan or the likelihood of the Company’s successful implementation of such business plan; the timing for the Company or its partners to initiate the planned clinical trials for PDS0101, PDS0203 and other Versamune® based products; the future success of such trials; the successful implementation of the Company’s research and development programs and collaborations, including any collaboration studies concerning PDS0101, PDS0203 and other Versamune® based products and the Company’s interpretation of the results and findings of such programs and collaborations and whether such results are sufficient to support the future success of the Company’s product candidates; the success, timing and cost of the Company’s ongoing clinical trials and anticipated clinical trials for the Company’s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including our ability to fully fund our disclosed clinical trials, which assumes no material changes to our currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim results, which are not necessarily indicative of the final results of the Company’s ongoing clinical trials; any Company statements about its understanding of product candidates mechanisms of action and interpretation of preclinical and early clinical results from its clinical development programs and any collaboration studies; the acceptance by the market of the Company’s product candidates, if approved; the timing of and the Company’s ability to obtain and maintain U.S. Food and Drug Administration or other regulatory authority approval of, or other action with respect to, the Company’s product candidates; and other factors, including legislative, regulatory, political and economic developments not within the Company’s control, including unforeseen circumstances or other disruptions to normal business operations arising from or related to COVID-19. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s annual and periodic reports filed with the SEC. The forward-looking statements are made only as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

PDS Biotech Media & Investor Relations Contact:

Deanne Randolph
PDS Biotech
Phone: +1 (908) 517-3613
Email: drandolph@pdsbiotech.com

Rich Cockrell
CG Capital
Phone: +1 (404) 736-3838
Email: rich@cg.capital

Casual Dining and Fast Serve to Benefit from Back-to-Work



As People Make it Back to the Office, Restaurants See More Traffic

 

Restaurants Welcome Back to Work Traffic

The 2020 pandemic beat up many industries while causing others to rocket. Stock market investors endured sharp selloffs and, in many sectors, rapid recovery. Industries including hospitality and food were among the hardest hit as many restaurants saw their stocks crash during the Covid era. While some restaurants did what they could with either complete lockdowns, or a substantially reduced dining room capacity, and a low customer appetite for dining in, their business was still well-off the normal pace.

To make matters more trying for restaurants, the businesses in their neighborhood had employees working remotely  grocery store sales were up; lunchtime restaurant traffic was limited.  According to Sentieo, publicly traded restaurant chains saw an increase in the price of only 4% in all of 2020 as compared to an 18% total return on the S&P 500.

In 2021, things look much better for restaurants. As many states, counties, and towns began to ease the previous restrictions and capacity limits, restaurant stocks began to climb back up. By some measures, restaurant stocks already have a year-on-year increase of 51.7%. Clearly, we’re getting past the turning point of the post-Covid era. Can we expect more growth in the sector?

 

“We’re absolutely seeing an increase in lunchtime traffic as well as maintaining delivery and to-go
business. We’re working on all cylinders right now.”
– Andy Wiederhorn, CEO, FAT Brands

 

People are Doing What they Couldn’t do Before

Now at the tail-end of the Covid 19 era, authorities in the U.S. and many countries have begun to ease restrictions. People now do things they previously could not. For instance, they can now take their families to dinner, explore theme parks and spend in ways they were prevented from during the lockdown.

Earlier this year, investors began moving into recreational stocks like Disney (DIS). The result, between January 27 and March 8, DIS saw a 24% increase in market value before retreating. Full-service restaurants saw a similar spike as investors anticipated full dining rooms. People who had been restricting themselves to their homes now were expected to do things they were not.

Andy Wiederhorn, CEO of FAT Brands (FAT), responded to a listener question last week on lunchtime traffic. He was the guest at a Channelchek sponsored Virtual Roadshow.  Wiederhorn responded, “some restaurants are at 120% of sales pre-covid.”  Fat Brands is a restaurant franchising company that owns  the Fatburger, Johnny Rockets, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings, Yalla Mediterranean, Ponderosa, Bonanza, and Elevation Burger brands. As it relates to traffic, Mr. Wiederhorn added, “sales over the past month are reaching all-time highs with some of the brands.” He responded more directly, “ We’re absolutely seeing an increase in lunchtime traffic as well as maintaining delivery and to-go business. We’re working on all cylinders right now.”

 

Recreational Dining vs. Regular Dining Out

Employers and government workers worldwide are starting to call back their staff members. This is coming as many governments and business organizations look to resume full onsite operations by late June. This is welcome by most. According to a study by Morning Consult, 65% of remote workers are ready to return to their offices to start resume working as they did before.

This adds to the good news for restaurants that relied in large part on local businesses adding to their lunchtime customers. It takes the remote workers who were preparing lunch in their kitchen and places them back in the running to a fast service restaurant.

Throughout the COVID 19 crisis, fast food and partial service food outlets struggled to survive. Some of them were already set up for take-outs. However, there have already been large spikes in companies that cater to workers stopping in for lunch. For instance, Mac Donald’s stock is up by 11%, just as the entire market surges around the same percentage. We expect that with a massive return to work as we hope soon, the dining rooms of these restaurants will see more large crowds. This will, in turn, boost their revenues massively and improve the market in general.

 

Suggested Reading:

Space as a Lucrative Investment Space

FAT Brands Virtual Roadshow replay (May 2021)



Cannabis Customers Served by the “Ice Cream Truck” Delivery Model

Toilet Paper Sales Unravel as People are Flush with Paper Goods

 

Sources:

https://morningconsult.com/return-to-work/

https://channelchek.vercel.app/channelcast-detail/228

 

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