Month: June 2021

Release – Sierra Metals Announces Results Of Annual General Meeting Of Shareholders

Posted on by Admin


Sierra Metals Announces Results Of Annual General Meeting Of Shareholders

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or the “Company”) hereby announces the voting results from the Company’s Annual General Meeting of Shareholders held on Thursday, June 10, 2021 (the “Meeting”).

A total of 133,132,611 common shares were voted at the Meeting, being 81.46% of the Company’s issued and outstanding common shares. Shareholders voted in favour of all matters brought before the Meeting, including the re-appointment of PricewaterhouseCoopers LLP as the Company’s auditors for the ensuing year, and the election of management’s nominees to the Company’s board of directors (the “Board”).

Detailed results of the votes on the election of directors are as follows:

Director

Votes For

Votes Withheld

Outcome of
Vote

Jose Vizquerra

78,891,458 (62.64%)

47,048,136 (37.36%)

Approved

J. Alberto Arias

58,459,843 (46.42%)

67,479,751 (53.58%)

Approved

Ricardo Arrarte

72,338,338 (57.44%)

53,601,256 (42.56%)

Approved

Douglas Cater

79,034,768 (62.76%)

46,904,826 (37.24%)

Approved

Steven Dean

77,094,708 (61.22%)

48,844,886 (38.78%)

Approved

Luis Marchese

72,978,835 (57.95%)

52,960,759 (42.05%)

Approved

Dionisio Romero

70,474,604 (55.96%)

55,464,990 (44.04%)

Approved

Koko Yamamoto

71,905,376 (57.10%)

54,034,218 (42.90%)

Approved

One of the eight directors elected at the Meeting, J. Alberto Arias, received a greater number of votes “withheld” from his election as a director than votes “for” his election. The results of this outcome have been defined within the Majority Voting Policy (as disclosed on the Company website – https://www.sierrametals.com/about-sierra/corporate-governance/default.aspx). The Board’s decision will be disclosed by press release.

About Sierra Metals

Sierra Metals is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

The Company’s common shares trade on the Toronto Stock Exchange and the Bolsa de Valores de Lima under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.

For further information regarding Sierra Metals, please visit www.sierrametals.com.

Continue to Follow, Like and Watch our progress:

Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc | Instagram: sierrametals

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws related to the Company (collectively, “forward-looking information”). Forward-looking information includes, but is not limited to, statements with respect to the Company’s operations, including anticipated developments in the Company’s operations in future periods, the Company’s planned exploration activities, the adequacy of the Company’s financial resources, and other events or conditions that may occur in the future. Statements concerning mineral reserve and resource estimates may also be considered to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if and when the properties are developed or further developed. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in our Annual Information Form dated March 30, 2021 in respect of the year ended December 31, 2020 and other risks identified in the Company’s filings with Canadian securities regulators and the U.S. Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

The risk factors referred to above is not exhaustive of the factors that may affect any of the Company’s forward-looking information. Forward looking information includes statements about the future and are inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.

Mike McAllister
V.P., Investor Relations
Sierra Metals Inc.
+1 (416) 366-7777
Email: info@sierrametals.com

Ed Guimaraes
CFO
Sierra Metals Inc.
+1(416) 366-7777

Luis Marchese
CEO
Sierra Metals Inc.
+1(416) 366-7777

Source: Sierra Metals Inc.

Debate Concerning Biogens Alzheimers Drug Approval

Posted on by Admin 

Image Credit: Rik Williams (Flickr)


Biogen’s Alzheimer’s Drug Approval from a Pharmacists Perspective

 

The Food and Drug Administration set off a firestorm of debate when it approved a new drug, aducanumab, for Alzheimer’s disease via an accelerated approval pathway. This decision ignored the recommendation of the FDA’s external advisory panel to reject the drug.

The FDA grants accelerated approvals for drugs to treat serious illnesses for which there are no known, or at least very few, treatments. The type of data used to support accelerated approvals is very different from the typical benchmark safety and efficacy data required for approval. As a pharmacist and researcher, I have documented several reasons drug research conducted in a laboratory environment differs substantially from what is ultimately seen in people. The challenge lies in striking a balance between taking the time to ensure a treatment works and meeting urgent patient need.

 

Using a Different Standard

The FDA created an accelerated approval pathway for drugs treating serious diseases for which many patients feel a desperate need for more options. This has included treatment for advanced-stage cancer, multiple sclerosis and HIV, among others.

When considering accelerated approval, the agency examines a drug’s efficacy using what’s called a “surrogate endpoint.” While most drug trials measure success based on clinical endpoints that determine whether a drug helps people feel better or live longer, like reducing heart attacks or strokes, surrogate endpoints measure biomarkers that suggest potential clinical benefit. These surrogate endpoints are viable substitutes for hard clinical endpoints because they’re proven to be directly linked to the desired clinical outcomes. For example, the clinical endpoints of reducing heart attacks and strokes could use reduced blood pressure and low-density lipoprotein (LDL) cholesterol as surrogate endpoints.

While many hypotheses on the correct surrogate endpoints to treat certain diseases have panned out, several others have been shown to be off-base or only partially correct. A great example is homocysteine, an amino acid once thought to be a driver of cardiovascular diseases which since has been shown to be a marker of disease only. People with elevated levels of homocysteine are more likely to have cardiovascular disease, but lowering levels doesn’t make heart attacks and strokes less likely to occur. All those who rushed the science and purchased dietary supplements to lower their homocysteine were flushing their money down the drain.

 

Testing the Amyloid Beta Hypothesis

Though the effect of aducanumab, the Alzheimer’s drug developed by biotechnology company Biogen, on hard clinical endpoints are lackluster, it has been shown to reduce the formation of amyloid beta plaques in patients with early-stage Alzheimer’s. Amyloid beta denotes proteins that clump together to form plaques commonly seen in patients with Alzheimer’s. It’s been hypothesized that these plaques drive the signs and symptoms of Alzheimer’s. Animal models have shown that interfering with amyloid beta plaque formation could lead to improvements in functioning.

Amyloid beta plaques are hypothesized to trigger the neurodegenerative processes of Alzheimer’s disease. The Alzheimer’s Disease Education and Referral (ADEAR) Center, NIH/Wikimedia Commons

The data linking amyloid beta plaques to hard clinical endpoints is not a slam-dunk. Unlike hypertension and elevated LDL cholesterol, which has been proved to be linked to cardiovascular events, amyloid beta has not seen such definitive results.

Two large clinical trials assessing aducanumab have been conducted, one that started with a higher dose and one that started with a lower dose that was later increased. Both trials were stopped early, and the lower-dose trial found no benefits. The higher-dose trial found modest benefits in maintaining mental functioning, but the trial did not have enough patients to show that these benefits were due to the drug and not to chance. After the fact, the researchers combined data from patients who received high-dose aducanumab in both trials and found an improvement in mental functioning. However, many experts running clinical trials bristle at combining trial outcomes like this: These after-the-fact analyses have been shown in some circumstances to not pan out in the future.

Other initially promising experimental drugs targeting amyloid beta for Alzheimer’s also fell short in reducing hard clinical endpoints in their clinical trials. After one of these drugs, solanezumab, failed to achieve study aims, additional data analysis post-trial suggested it might be effective in a select population with mild Alzheimer’s. Researchers conducted an additional large clinical trial focusing on that subpopulation, but again failed to demonstrate significant benefits. No one knows if aducanumab will find significant benefits when the new clinical trial completes or if it will fail as solanezumab did.

If amyloid beta turns out to be simply a marker and not a cause of Alzheimer’s, it will be a costly mistake: Aducanumab is estimated to cost over US$56,000 a year.

 

Was the FDA’s Ruling a Mistake?

Over 6 million Americans now have Alzheimer’s disease, and deaths from Alzheimer’s have risen over 145% over the past 20 years. Alzheimer’s disease not only robs individuals of their autonomy but also places a huge burden on family members and the U.S. economy: $355 billion is spent annually on caring for people with Alzheimer’s. Current FDA-approved treatments are only modestly effective at controlling disease symptoms, and none target a possible underlying cause.

The accelerated approval pathway allows patients with early-stage Alzheimer’s to access aducanumab while a larger and more definitive clinical trial is conducted. Biogen says it hopes to have the clinical trial completed by 2030. If the study does not find reductions in the hard clinical endpoints, the drug will be withdrawn.

If aducanumab is ultimately found to be effective, many patients with early-stage Alzheimer’s will reap the benefits in reductions in hospitalizations, doctor visits, nursing home costs and societal burden.

If aducanumab is found to be ineffective, however, Medicare, insurers and patients will have spent tens of millions of dollars on a drug that not only did not work but also exposed patients to adverse events, including the risk of bleeding in the brain.

 

Should Physicians Prescribe Aducanumab, and Should Insurers Pay for It?

For patients in the earlier stages of Alzheimer’s disease, there is reason to try aducanumab based on the current clinical trial data and the lack of alternatives. But in advanced disease, it is unlikely that aducanumab or any drug targeting amyloid beta will provide benefits.

In a cost-effectiveness assessment of aducanumab, the Institute for Clinical and Economic Review, an independent organization assessing the value of medical treatments, suggested an annual price range from $8,300 to $23,000. This is a far cry from the $56,000 a year the company is expecting to charge, and that doesn’t account for the thousands of dollars in additional testing required to reduce the risk of brain swelling and bleeding.

The annual cost of the drug will likely greatly exceed the cost savings in other areas like reduced doctor visits and hospitalizations. Until further results are released, such high costs could lead private insurers to not cover or charge higher copays for the drug. Given the average age of those with Alzheimer’s disease, however, most people receiving aducanumab will be eligible for Medicare and will most likely be covered. Whether the drug will actually treat the disease – the biggest issue in question – remains uncertain.

 

Let us all hope that the FDA’s gamble pays off.

This article
was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts.  Written by:
C. Michael White Distinguished Professor and Head of the Department of Pharmacy Practice, University of Connecticut

 

Suggested Reading:

Pros and Cons of FDA Funded in Part by Companies

Cells that can be Made From Stem Cells



Therapeutic Discovery Advanced by Stem Cell Science

The Case for Investing in Regenerative Medicine

 

Stay up to date. Follow us:

           


Stay up to date. Follow us:

Release – Garibaldi Consolidates Otter Creek Lode Gold Discovery

Posted on by Admin


Garibaldi Consolidates Otter Creek Lode Gold Discovery

 

Vancouver, British Columbia, June 11, 2021 – Garibaldi Resources (TSXV: GGIFF) (the “Company” or “Garibaldi”) is pleased to announce the addition of key claims expanding the Company’s Otter Creek lode gold prospect to 8,704 total hectares within the Atlin Gold fields. The Otter Creek claims are located 12 kms east of Atlin in northwest British Columbia. Atlin has been a rich placer gold mining district since the Klondike gold rush from the mid 1800’s to the present day, rivalling Barkerville during the Cariboo gold rush. Until recently, the source of Atlin’s coarse gold placers had remained elusive.

The first announcement of a new lode gold discovery on Otter Creek was made by British Columbia Geological Survey (BCGS) geologists in a 2017 published paper titled “A new lode gold discovery at Otter Creek: another source for the Atlin placers.” Garibaldi had previously acquired 100% ownership of the hard rock mineral rights on the discovery section of Otter Creek. Placer operations enabled geologists to sample and map the bedrock in excavated pits before backfilling, allowing access to the BCGS geologists who published the lode gold discovery.

The Otter Creek lode gold discovery provides strong evidence that Atlin’s rich coarse crystalline gold placers are sourced from proximal high-grade gold veins rather than previously assumed eroded distal listwanite deposits. Garibaldi’s new acquisition in the Atlin Gold fields consolidates a core land package that occupies nearly the entire 10 km length of Otter Creek. Significantly, Garibaldi’s geology team considers the expanded claims package covering the Otter Creek placers as an important exploration priority. With excellent road access and infrastructure, the discovery of bonafide in-situ bedrock-hosted gold, is a remarkable find with enormous potential.


Figure 1 – Sample of in-situ bonanza bedrock gold – quartz vein in phyllite.

Otter Creek Project Highlights

  • In 2017, the British Columbia Geological Survey published a paper titled “A new lode gold discovery at  Otter Creek: another source for the Atlin placers.” (BCGS paper 2017-1pg.179-193) by Mihalynuk, M.G. Zagorevski, A., Devine F.A.M., and Humphrey, E. 
  • Placer mining uncovered significant mineralization in bedrock, resulting in multiple samples of in-situ bedrock gold along Otter Creek. Bonanza grade gold is hosted in quartz veins emplaced along structures in phyllite bedrock. The coarse gold in bedrock supports a new placer source for the Atlin gold Fields.
  • A large north-south trending fault, with a series of secondary faults extends along Otter Creek providing a key structural setting for lode gold deposits.  Rich placer deposits have been mined along these creeks and faults since the mid 1800’s.
  • Otter Creek and neighboring creeks including Spruce, Birch, Pine, Ruby and Wright creeks have produced some of the largest gold nuggets discovered in British Columbia, weighing from 24 to 83 oz of gold.
  • Garibaldi’s Otter Creek database includes 2282 MMI samples, a compilation of 1,884 historic soil samples, 15 IP lines, 143 km of walking mag, 263 line km airborne magnetic and electromagnetic (DIGHEM) surveys.
  • Drill target development will utilize the historical database, bedrock exposure of gold-bearing quartz veins, geophysical data, and analysis of a 728 sample SGH survey, used successfully in Red Lake Ontario.  

Steve Regoci, Garibaldi CEO, stated: Similar to the Eskay Camp, Atlin has a long history of gold mining back to the 1860’s Cariboo and klondike gold rushes. Our strategy to acquire claim groups centered in the heart of mineral rich districts in B.C. during the last downturn has been very successful. The Eskay claim group is exceeding our highest expectations, while our other projects as well as the new expanded Otter Creek have exceptional potential.”

Jeremy Hanson, Garibaldi VP Ex, stated “Otter Creek emerges as another high priority gold project in Atlin, joining the Grizzly in NW BC, Red Lion in the Quesnel Trough and ToraTora within the Spences Bridge Gold Belt (SBGB). Each of these projects are in well-endowed mineral districts with strong potential for discoveries. The company’s focus remains E&L and the Eskay claim group, however the expansion of the Atlin discovery is exciting news, reminding shareholders about our other great projects, which we’ll be updating as they’re advanced.”

Qualified Person

Jeremy Hanson, P.Geo., VP Exploration Canada for the Company and a qualified person as defined by NI- 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release.

About Garibaldi

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.

We seek safe harbor.

GARIBALDI RESOURCES CORP.

Per: “Steve Regoci”
Steve Regoci, President

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.

Release – Esports Entertainment Group Makes Strategic Push into Ohio

Posted on by Admin

 


Esports Entertainment Group Makes Strategic Push into Ohio; Testifies in Front of Senate Select Committee on Gaming

 

Newark, New Jersey–(Newsfile Corp. – June 11, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) is proud to announce that over the past week two executives, CFO Dan Marks and VP of Strategy Jeff Cohen, have been invited to testify in front of the Ohio State Senate Select Committee on Gaming as advocates for the esports industry. As a result of their testimony, as well as testimony from Jonah Blake of Game Fund Partners, and the Committee’s recognition of esports as a major area of interest for the state of Ohio, the current proposed Senate Sports Wagering Sub Bill 176 includes esports as an eligible sport to be wagered upon.

“Ohio’s recognition of esports and its inclusion in Sub Bill 176 is a major step forward for both EEG as well as the entire esports industry,” commented Grant Johnson, CEO of Esports Entertainment Group. “This, in addition to the recent announcement of our partnership with the Cleveland Cavaliers, solidifies Ohio as a strategic gaming jurisdiction for EEG,” continued Johnson. “We intend to build several Helix Centers as well as bring our Vie esports betting platform and look to form additional partnerships with major sports organizations in the state. We look forward to working with the Ohio legislature and our strategic partners to create a robust gaming ecosystem in the state. We believe Ohio can form a model for innovation and investment in esports that other states will follow.”

See below for links to the testimonies:

www.ohiochannel.org/video/ohio-senate-select-committee-on-gaming-6-2-2021

www.ohiochannel.org/video/ohio-senate-select-committee-on-gaming-6-10-2021

*EEG testimony starts 8 mins in*

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

 

Disclosure:
RedChip Companies, Inc. research reports, company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in RedChip reports, company profiles, or other investor relations materials and presentations are subject to change. RedChip Companies and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time.

The information contained herein is not intended to be used as the basis for investment decisions and should not be construed as advice intended to meet the particular investment needs of any investor. The information contained herein is not a representation or warranty and is not an offer or solicitation of an offer to buy or sell any security. To the fullest extent of the law, RedChip Companies, Inc., our specialists, advisors, and partners will not be liable to any person or entity for the quality, accuracy, completeness, reliability or timeliness of the information provided, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information provided to any person or entity (including but not limited to lost profits, loss of opportunities, trading losses and damages that may result from any inaccuracy or incompleteness of this information).

Stock market investing is inherently risky. RedChip Companies is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print.

We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission (“SEC”) at www.sec.gov.

Esports Entertainment Group, Inc. (GMBL) is a client of RedChip Companies, Inc. GMBL agreed to pay RedChip Companies, Inc. a $4,000 monthly cash fee, beginning in June 2018, and 225,000 shares of Rule 144 stock for RedChip investor awareness services.

Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. RedChip investor awareness services include the preparation of a research profile(s), multimedia marketing, and other awareness services.

Factors that Could Alter the Russell Final Index in 2021

Posted on by Admin 

Image Credit: Luis Villa del Campo (Flickr)


FTSE Russell Inaccuracies and Changes Before Final Adjustment

 

Over the next two Fridays, The FTSE Russell will post updates to its equity index reconstitutions that had been announced last Friday. These updates and adjustments to the original lists provided could occur for a number of reasons. The reactions to stock prices impacted could be strong as these announcements (when they occur) are less predictable and not surrounded by hundreds of other companies being added or deleted, attracting investor focus. The adjustment announcements will be after 6pm ET on June 11 and June 18. Below are some of the reasons that FTSE Russell may adjust their newly included companies just a week or two after the initial announcement.

 

FTSE Russell makes every effort to maintain its indexes to high standards. Nevertheless, inaccuracies may arise in the index and constituent data from time to time and investors, index constituents, licensees or other market participants should be aware of this. Such inaccuracies may arise as a result of a range of events, including the complexity of certain corporate events, late announced or missed dividends, pricing errors, external disruptions or market distortions, incorrect, incomplete or late data input whether occurring internally or externally to FTSE Russell, and incorrect application of index criteria such free floats, sectors or constituent make-up.  – FTSE Russell

 

Possible Reasons for Adjustments from the FTSE Russell Equity Index Guidelines: 

Incorrect Close Price Used

               Action- Change index constituent and replace.

Incorrect or Ineligible Company Added

               Action- Change index constituent and replace.

Incorrect Currency Used to Evaluate

               Action- Recalculate and Change.

Dividend Measurement Issues

               Incorrect Dividend Amount – Captured on ex-date.

               Incorrect Dividend Amount – Captured after ex-date (where ex-date is not the last business day of the month).

               Dividend Incorrectly Applied prior to ex-date.

Ticker Symbol Change

               Action- Adjust Ticker to reflect current identifier.

Change in Company (ie: merged, acquired, large divestiture) prior to third Friday in June.

               Action- Recalculate and Change.

 

A complete list of the Russell index additions announced on June 4, 2021, can be found here. Many of the companies have already experienced “out of the ordinary” activity in their shares.

 

Take-Away

The annual reconstitution is a significant driver of dramatic shifts in affected stock prices as index portfolio managers have their required holdings adjusted for them. The initial list from FTSE Russell is largely accurate and has a big impact on stocks. Any revisions from there could provide opportunity. It’s worth paying attention to.

 

Suggested Reading:

The Annual Russell Index Revision and Dates to Watch

Stock Index Adjustments and Self-Directed Investors



Capturing More Performance With Gold Prices Rising

Fear of Tapering May Set the Market Tone for Summer

 

Sources:

https://www.ftserussell.com/resources/russell-reconstitution

https://content.ftserussell.com/sites/default/files/russell_3000_index_additions_-_2021.pdf

 

Stay up to date. Follow us:

           


Stay up to date. Follow us:

QuickChek – June 10, 2021

Posted on by Admin



Esports Entertainment Group’s Helix eSports Announces Partnership with Gunnar Optiks

Esports Entertainment Group announced a Partnership Agreement that will see Helix eSports facilities debut GUNNAR Optiks retail foot print and branding across centers

Research, News & Market Data on Esports Entertainment

Watch recent presentation from NobleCon17



Entravision Communications Expands Global Digital Footprint Through Acquisition of Leading Digital Marketing & Advertising Company MediaDonuts

Entravision announced that the Company has entered into a definitive agreement to acquire MediaDonuts, a leading digital marketing performance and branding company with operations across seven countries in the Asia-Pacific region

See today’s research report on Entravision from Michael Kupinski, Director of Research at Noble Capital Markets

Research, News & Market Data on Entravision

Watch recent presentation from NobleCon17



Seanergy Takes Delivery of Two Capesize Vessels with Prompt Commencement of Period Charters

Seanergy Maritime Holdings announced the delivery of two previously-announced Capesize vessel acquisitions

Research, News & Market Data on Seanergy

Watch recent presentation from NobleCon17



Kratos Provides Ballistic and Airborne Targets for Formidable Shield 21 Campaign

Kratos Defense announced that its Space & Missile Defense Systems Business Unit supported the U.S. Navy’s Sixth Fleet

Research, News & Market Data on Kratos Defense



PLBY Group Announces Upsize and Pricing of Public Offering of Common Stock

PLBY Group announced the upsize and pricing of its underwritten public offering of 4,720,000 shares of its common stock at a public offering price of $46.00 per share

Research, News & Market Data on PLBY Group

Watch recent presentation from NobleCon17



Ocugen Inc. Announces Michael Shine as Senior Vice President, Commercial
Ocugen to pursue a BLA path in the US for its COVID-19 vaccine candidate

Research, News & Market Data on Ocugen

Watch recent presentation from NobleCon17

Stay up to date. Follow us:

Release – Esports Entertainment Groups Helix eSports Announces Partnership with Gunnar Optiks

Posted on by Admin

 


Esports Entertainment Group’s Helix eSports Announces Partnership with Gunnar Optiks

 

Partnership Agreement Will See Helix eSports Facilities Debut GUNNAR Optiks Retail Foot Print and Branding Across Centers

North Bergen, New Jersey–(Newsfile Corp. – June 10, 2021) – Helix eSports, Esports Entertainment Group’s (NASDAQ: GMBL) gaming center division and GUNNAR Optiks, the preeminent force and No. 1 in gaming glasses, are thrilled to announce a multi-channel partnership. The partnership will see Helix eSports facilities pilot a center-based, retail experience for GUNNAR’s gaming and computer glasses who will become a marketing partner across all Helix properties and programming.

GUNNAR, who has led the way in performance enhancing, blue light gaming and computer glasses for more than 15 years, holds a combined US Patent for its lens technology which is engineered to combat digital eyestrain and block blue light. GUNNAR glasses are doctor recommended and help improve performance by sharpening focus, reducing dry eyes, minimizing glare and filtering out harmful blue light emitted from digital screens.

“We are really excited to be working with Helix eSports on this pilot retail experience. It will allow gamers to truly experience the GUNNAR difference in an endemic setting, trying on the glasses before they buy. They are also able to take advantage of a 10% discount on any pair of GUNNAR Youth or adult glasses they order,” commented Georgina Petrie, GUNNAR’s Director of Marketing. “It also allows us a chance to get real feedback about our glasses for future innovation from a younger gaming demographic, which is sometimes hard to come by.”

Helix eSports owns five esports centers, including two of the five largest centers in the US, where they deliver world-class customer experiences, esports programming and gaming infrastructure. Helix offers a variety of experiences including casual play, competitive tournaments, STEM programming, high school leagues, large groups and esports bootcamps all with the goal of leveling the playing field in esports and providing equitable access to technology. Their centers have become the destination for social and competitive gamers alike with monthly tournaments, unique experiences and exclusive retail offerings.

“Our mission at Helix eSports is to create an exceptional esports experience for all players at our centers by providing unique retail offerings and by providing best in class gaming centers that create social hubs and level the playing field for competition,” said Murphy Vandervelde, VP of Business Development at Esports Entertainment Group. “We believe we can create the best possible guest experience by offering all Helix customers our uniform, high-end gaming equipment, as well as giving access to sophisticated accessories that help drive better gaming performance. GUNNAR is a critical differentiator in elevating our offerings and our player’s gameplay over the competition.”

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

About GUNNAR Optiks

Established in 2006, GUNNAR Optiks®, LLC is the expert in performance enhancing, blue light blocking glasses for all eyes and is #1 in gaming. Leading the way in cutting edge technology and design innovation, GUNNAR was the first company to secure a combined patent (# 9417460) for lenses that help reduce digital eye strain symptoms and combat fatigue issues associated with the use of digital screens. GUNNAR lenses are doctor recommended and clinically proven to combat symptoms associated with digital eye strain. As the category pioneer, GUNNAR has established itself as preeminent force in gaming and computer glasses and continues to expand its portfolio providing a wide selection of styles, protective lens types and focus options for everyone. These include gaming, computer, prescription, reading and sunglasses, in addition to a new line of glasses specifically designed for teens and kids, GUNNAR Youth.

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

Release – Entravision Communications Corporation Expands Global Digital Footprint Through Acquisition of MediaDonuts

Posted on by Admin


Entravision Communications Corporation Expands Global Digital Footprint Through Acquisition of Leading Digital Marketing & Advertising Company MediaDonuts

 

Acquisition broadens Company’s premier digital offering to the fast growing Southeast Asia marketplace

SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision Communications Corporation (NYSE: EVC) (“Entravision” or “the Company”) announced today that the Company has entered into a definitive agreement to acquire MediaDonuts, a leading digital marketing performance and branding company with operations across seven countries in the Asia-Pacific region. For over a decade, MediaDonuts has helped its customers achieve their performance and branding goals across digital media channels. The acquisition is anticipated to close on or around July 1, 2021.

Founded in 2010, MediaDonuts offers extensive digital advertising capabilities through its strategic partnerships with major global media and technology platforms. Headquartered in Singapore, MediaDonuts serves more than 500 technology and consumer brand clients.

“We are thrilled to announce our acquisition of MediaDonuts,” said Walter Ulloa, Chairman and Chief Executive Officer of Entravision. “This acquisition is a natural fit with the overall digital and global transformation strategy of our business. Entravision has always focused on providing advertising solutions in high growth markets and partnering with the strongest media and technology platforms in the world. We believe that the incorporation of MediaDonuts into the Entravision platform adds leadership, sales operations and digital offerings that will further propel our digital efforts.”

Entravision’s acquisition of MediaDonuts is the next key step in the Company’s plan to become a leading marketing technology service provider in the world’s highest growth economies. Southeast Asia represents a company milestone, as Entravision will be tapping into a new consumer market that represents nearly 700 million people, 400 million of which are digitally connected.

“When we founded MediaDonuts, we wanted to build a digital marketing and performance service enterprise that could seamlessly connect advertisers and agencies with their target audiences. By crafting an ideal mix of partnerships, including some of the world’s largest social and entertainment networks, we have done just that and more,” said Pieter-Jan de Kroon, Co-Founder and Chief Executive Officer of MediaDonuts. “With our business positioned for success, we are excited to now have the opportunity to join the global digital platform Entravision has built over the past decade. I am confident in the many commercial, technological and product development synergies our business will achieve going forward as a combined entity.”

“We are very excited to welcome Pieter-Jan and the entire MediaDonuts team to the Entravision family,” said Juan Saldívar, Entravision’s Chief Digital, Strategy and Accountability Officer. “Expanding our digital business is core to our overall growth plans, and following our majority investment in Cisneros Interactive this past October, digital now represents over 65 percent of our revenues. With a global digital platform now poised to reach and serve clients in 32 countries, we are confident the addition of MediaDonuts will further enhance our service offerings and help drive our continued global growth.”

Upon the closing of this transaction, all MediaDonuts employees will remain with the company, and Pieter-Jan de Kroon will continue to serve as CEO of the business based out of its headquarters in Singapore. MediaDonuts has a team of more than 80 employees located in Singapore, Thailand, Philippines, Vietnam, Indonesia, Malaysia and India. MediaDonuts’ sophisticated sales and media innovators offer services in programmatic buying, technology and insights and media planning that enable leading brands to transform their digital customer engagement strategies. The company has also built a media representation arm that supports some of the largest names in media and technology across Southeast Asia through its extensive sales organization.

For more information on the transaction, please review the Company’s most recent filings with the Securities and Exchange Commission on Form 8-K.

About Entravision Communications Corporation

Entravision is a diversified global media, marketing and technology company serving clients throughout the United States and in more than 20 countries across Latin America, Europe, and Asia. Entravision has 54 television stations and is the largest affiliate group of the Univision and UniMás television networks, and 48 Spanish-language radio stations that feature nationally recognized, award-winning talent. Our dynamic digital portfolio includes Entravision Digital, which serves SMBs in high-density U.S. Latino markets and provides cutting-edge mobile programmatic solutions and demand-side platforms that allow advertisers to execute performance campaigns using machine-learned bidding algorithms, along with Cisneros Interactive, a leader in digital advertising solutions in the Latin American and U.S. Hispanic markets representing major technology platforms. Shares of Entravision Class A Common Stock trade on The New York Stock Exchange under the ticker symbol: EVC. Learn more about all of our media, marketing and technology offerings at entravision.com or connect with us on LinkedIn and Facebook.

About MediaDonuts

MediaDonuts is an online advertising and technology company that helps advertisers achieve their performance and branding goals across digital media channels. MediaDonuts connects brands with their respective audiences through strategic partnerships with major global media and technology platforms. MediaDonuts has offices in seven countries across APAC with its headquarters in Singapore. For more information, please visit https://mediadonuts.com/.

Forward Looking Statements

This press release contains certain forward-looking statements, including without limitation the Company’s current expectations and intentions with respect to the filing of its Form 10-K. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the Company disclaims any duty to update any forward-looking statements made by the Company. From time to time, these risks, uncertainties and other factors are discussed in the Company’s filings with the Securities and Exchange Commission.

Entravision:

Christopher T. Young
Chief Financial Officer
310-447-3870

Kimberly Esterkin
ADDO Investor Relations
310-829-5400
evc@addo.com

MediaDonuts:

Pieter-Jan de Kroon
Chief Executive Officer
pieterjan@mediadonuts.com

Source: Entravision Communications Corporation

Forecasted Oil Prices for the Second Half of 2021

Posted on by Admin 

Image Credit: Imseong Kang (Flickr)


Official U.S. Oil Price and Inventory Forecasts for Second Half 2021 and Beyond

 

Global consumption of crude oil is likely to increase through 2022, according to a new forecast by the U.S. Energy Information Administration (EIA). Earlier in June, the EIA forecast increasing global production of petroleum and other liquid fuels would be driven by OPEC, Russia, and the U.S. These forecasts, higher consumption and production, point to a cooling of the recent pace of price increases for Bent and West Texas Intermediate Crude.  These two most recent reports by the EIA suggest more price stability in the second half of the year than we experienced in the first six months. The report then forecasts another mismatch of supply and demand.

 

Oil Price Expectations
Through 2022

Although the EIA sees global consumption likely increasing through 2022, they also forecast production increasing more rapidly. This would end the drawdowns in oil inventories we’ve been experiencing in 2021. As indicated in the forecast in the graph below, inventories are expected to remain relatively flat through the next two quarters and then increase in 2022.  

The EIA forecast estimates that swelling worldwide
petroleum inventory should limit rising oil prices in the coming months, then put
downward pressure on crude oil prices later this year and into 2022.

 

 

Risks Associated with the EIA Forecast

The EIA points out several risks to the accuracy of their forecast:

First- Higher sustained crude oil prices over the next several months could cause some OPEC+ members to increase their production more than provided for in the active OPEC+ agreement.

Second- The forecast assumes that Iran’s crude oil production will continue to increase in 2021. There continue to be sanctions that target Iran’s crude oil exports; however, crude oil exports from Iran have risen since the end of 2020. The risk here is crude oil production may increase faster than the EIA forecast.

Third- There is the possibility that U.S. operators will add fewer drilling rigs than expected. This would lower U.S. crude oil production in 2022, which would provide less downward pressure on oil prices.

 

 

Take-Away

Current higher crude oil prices and planned OPEC+ production increases allow for an EIA forecast that worldwide petroleum supply will increase over the next several months. They expect that this will provide an essentially balanced market through much of the second half of 2021. Then, inventories are projected to build through 2022, pushing prices down modestly.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading:

Is Oil Demand Stronger than Estimated?

InPlay Oil Virtual Roadshow (Video)



Indonesia Energy Virtual Roadshow (Video)

Energy Industry – Exploration and Production, Review and Outlook

 

Sources:

https://www.eia.gov/petroleum/weekly/

https://www.eia.gov/outlooks/steo/archives/jun21.pdf

 

Stay up to date. Follow us:

           


Stay up to date. Follow us:

Release – PLBY Group Announces Upsize and Pricing of Public Offering of Common Stock

Posted on by Admin


PLBY Group Announces Upsize and Pricing of Public Offering of Common Stock

 

LOS ANGELES, June 09, 2021 (GLOBE NEWSWIRE) — PLBY Group, Inc. (NASDAQ: PLBY) (“PLBY Group”), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, today announced the upsize and pricing of its underwritten public offering of 4,720,000 shares of its common stock at a public offering price of $46.00 per share, before underwriting discounts and commissions. The offering was upsized from the previously announced offering size of 4,000,000 shares of common stock. All shares of common stock to be sold in the offering will be sold by PLBY Group. In addition, PLBY Group has granted the underwriters a 30-day option to purchase up to an additional 708,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by PLBY Group, are expected to be $217,120,000, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on June 14, 2021, subject to customary closing conditions.

PLBY Group intends to use the net proceeds it receives from the offering to fund future growth, including potential future acquisitions, and for working capital and general corporate purposes.

Canaccord Genuity and Stifel are acting as joint book-running managers for the offering. Roth Capital Partners, Chardan, Craig-Hallum and Loop Capital Markets are acting as co-managers for the offering.

The offering is being made only by means of a prospectus. PLBY Group filed a registration statement on Form S-1 (File No. 333-256855) with the U.S. Securities and Exchange Commission (the “SEC”) on June 7, 2021 relating to the offering, which was declared effective on June 9, 2021. Copies of the prospectus may be obtained, when available, on the SEC’s website at www.sec.gov and may also be obtained, when available, by contacting Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, Suite 1200, Boston, MA 02110, by email at prospectus@cgf.com or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by email at syndprospectus@stifel.com.

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

About PLBY Group, Inc.

PLBY Group, Inc. (“PLBY Group”) connects consumers around the world with products, services, and experiences to help them look good, feel good, and have fun. PLBY Group serves consumers in four major categories: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “outlook,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “strategy, “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. However, not all forward-looking statements contain these identifying words. Forward-looking statements in this release include, but are not limited to, statements concerning the terms of the offering and the completion, timing, size and use of net proceeds of the offering. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in the section entitled “Risk Factors” in the registration statement on Form S-1 related to the offering filed with the SEC, as well as PLBY Group’s other filings with the SEC. The forward-looking statements included in this press release represent PLBY Group’s views only as of the date of this press release and not PLBY Group’s views as of any subsequent date and should not be unduly relied upon. PLBY Group undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changes in PLBY Group’s expectations, or otherwise, except as required by law.

Contact

Investors: investors@plbygroup.com
Media: press@plbygroup.com

Release – Ocugen to pursue a BLA path in the US for its COVID-19 vaccine candidate

Posted on by Admin


Ocugen to pursue a BLA path in the US for its COVID-19 vaccine candidate

 

  • Company intends to work with the FDA towards filing a Biologics License Application (BLA) in the US
  • Company to engage with Health Canada to seek authorization under Interim Order for use in Canada

MALVERN, Pa., June 10, 2021 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN) (Company), 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 upon recommendation from the U.S. Food and Drug Administration (FDA), it will pursue submission of a biologics license application (BLA) for its COVID-19 vaccine candidate, COVAXIN™. The Company will no longer pursue an Emergency Use Authorization (EUA) for COVAXIN™.

The FDA provided feedback to Ocugen regarding the Master File the Company had previously submitted and recommended that Ocugen pursue a BLA submission instead of an EUA application for its vaccine candidate and requested additional information and data. Ocugen is in discussions with the FDA to understand the additional information required to support a BLA submission. The Company anticipates that data from an additional clinical trial will be required to support the submission.

“Although we were close to finalizing our EUA application for submission, we received a recommendation from the FDA to pursue a BLA path. While this will extend our timelines, we are committed to bringing COVAXIN™ to the US. This differentiated vaccine is a critical tool to include in our national arsenal given its potential to address the SARS-CoV-2 variants, including the delta variant, and given the unknowns about what will be needed to protect US population in the long term,” said Dr. Shankar Musunuri, Chairman of the Board, Chief Executive Officer, and Co-founder of Ocugen.

Ocugen recently announced that it secured exclusive rights to commercialize COVAXIN™ in Canada and has initiated discussions with Health Canada for regulatory approval. The Company will pursue expedited authorization for COVAXIN™ under the Interim Order Respecting the Importation, Sale and Advertising of Drugs for Use in Relation to COVID-19 in Canada.

“In clinical trials to date, the emerging safety profile of COVAXIN™ is supportive of it being generally well tolerated with a good safety profile, with Ministry of Health and Family Welfare of Republic of India reporting no potential thromboembolic events following the administration of over 6.7 million doses of COVAXIN™ in that country,” 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. This platform has an excellent safety track record of more than 300 million doses of various vaccines 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 alpha variant, B.1.1.7, which was first identified in the United Kingdom, as well as the delta variant, B.1.617, which was first identified in India. These studies suggest that COVAXIN vaccination may be effective against multiple SARS-CoV-2 variants.

Based on the more than 30 million doses supplied in India and other countries, COVAXIN™ has an excellent safety record. COVAXIN™ is currently being administered under emergency use authorizations in 13 countries, and applications for emergency use authorization are pending in more than 60 additional countries.

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. and Canadian markets. For more information, please visit http://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 interim data from Bharat Biotech’s Phase 3 trial in India 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 the results of in-vitro studies will not be duplicated in human clinical trials; 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 we will be able to provide the U.S. Food and Drug Administration (FDA) with sufficient additional information regarding the design of and results from preclinical and clinical studies of COVAXIN, which have been conducted by Bharat Biotech in India in order for those trials to support a biologics license application (BLA), the size, scope, timing and outcome of any additional trials or studies that we may be required to conduct to support a BLA; any additional chemistry, manufacturing and controls information that we may be required to submit the timing of our BLA filing; whether and when an application for authorization under interim order for emergency use will be filed in Canada; whether and when any such applications may be approved by Health Canada; whether developments with respect to COVID-19 pandemic will affect the regulatory pathway available for vaccines in the United States, Canada or other jurisdictions; market demand for COVAXIN in the United States or Canada; decisions by the FDA or Health Canada impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of COVAXIN in the United States or Canada, 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
Sharon Correia
scorreia@lavoiehealthscience.com617-865-0038

Release – Seanergy Takes Delivery of Two Capesize Vessels with Prompt Commencement of Period Charters

Posted on by Admin


Seanergy Takes Delivery of Two Capesize Vessels with Prompt Commencement of Period Charters

 

June 10, 2021 – Glyfada, Greece – Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) reported today the delivery of two previously-announced Capesize vessel acquisitions. The first vessel is a 181,709 dwt Capesize bulk carrier, built in 2010 by Imabari Shipbuilding Co., Ltd. in Japan, which was renamed M/V Patriotship, and the second is a 176,925 dwt Capesize bulk carrier, built in 2006 by Namura Shipbuilding Co., Ltd. in Japan, which was renamed M/V Tradership (the “Vessels”).

Taking advantage of the strong market conditions, Seanergy fixed the M/V Patriotship proactively at $31,000 per day for a period employment of 12 to 18 months with a major European cargo operator. Additionally, the M/V Tradership has been fixed for a period employment of 11 to 15 months with a major South Korean industrial company at an index-linked rate based on the Baltic Capesize Index. Both time charters are expected to commence promptly, upon finalization of the customary handover process.  

Moreover, the Company is in advanced discussions with a leading Asian financial institution to finance part of the acquisition price of the M/V Patriotship through a sale and leaseback structure at competitive terms.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive
Officer, stated:

“I am pleased to announce the timely delivery of our fourteenth and fifteenth Capesize vessels and the immediate commencement of their respective period employments.

We are also excited to initiate business relationships with two additional reputable charterers. Including these deliveries, 87% of our operating fleet is employed under advantageous medium to long-term charters.

At the financing front, we have secured competitively-priced financings for our recent vessel acquisitions, as previously announced, which will further enhance our strong liquidity position and reduce the Company’s average cash interest expense.

We believe Seanergy is optimally positioned to take advantage of the rising market conditions.”

 

Company
fleet on a fully delivered basis:

Vessel Name

Vessel Size Class

Capacity (DWT)

Year Built

Yard

Scrubber Fitted

Employment Type

Partnership

Capesize

179,213

2012

Hyundai

Yes

T/C Index Linked

Championship

Capesize

179,238

2011

Sungdong

Yes

T/C Index Linked

Lordship

Capesize

178,838

2010

Hyundai

Yes

T/C Index Linked

Premiership

Capesize

170,024

2010

Sungdong

Yes

T/C Index Linked

Squireship

Capesize

170,018

2010

Sungdong

Yes

T/C Index Linked

Knightship

Capesize

178,978

2010

Hyundai

Yes

T/C Index Linked

Gloriuship

Capesize

171,314

2004

Hyundai

No

T/C Index Linked

Fellowship

Capesize

179,701

2010

Daewoo

No

T/C Index Linked

Geniuship

Capesize

170,058

2010

Sungdong

No

T/C Index Linked

Hellasship

Capesize

181,325

2012

Imabari

No

T/C Index Linked

Flagship

Capesize

176,387

2013

Mitsui Engineering

No

T/C Index Linked

Patriotship

Capesize

181,709

2010

Saijo – Imabari

Yes

T/C Fixed Rate -$31,000/day

Tradership

Capesize

176,925

2006

Namura Shipbuilding

No

T/C Index Linked

Leadership

Capesize

171,199

2001

Koyo – Imabari

No

Voyage/Spot

Goodship

Capesize

177,536

2005

Mitsui Engineering

No

Voyage/Spot

Worldship *

Capesize

181,415

2012

Japanese
Shipyard

Yes

N/A

Total / Average age

 

2,823,878

11.8

 

 

 

 

*
Delivery expected within August 2021

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. On a fully-delivered basis, the Company’s operating fleet will consist of 16 Capesize vessels with an average age of 11.8 years and aggregate cargo carrying capacity of approximately 2,823,878 dwt.

The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”, its Class A warrants under “SHIPW” and its Class B warrants under “SHIPZ”.

Please visit our company website at: www.seanergymaritime.com.

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For
further information please contact:

Seanergy Investor Relations

Tel: +30 213 0181 522

E-mail: ir@seanergy.gr

 

Capital Link, Inc.

Daniela Guerrero

230 Park Avenue Suite 1536

New York, NY 10169

Tel: (212) 661-7566

E-mail: seanergy@capitallink.com

Release – Ocugen Inc. Announces Michael Shine as Senior Vice President Commercial

Posted on by Admin


Ocugen Inc. Announces Michael Shine as Senior Vice President, Commercial

 

MALVERN, Pa., June 10, 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 Michael Shine will be joining Ocugen as Senior Vice President, Commercial.

Michael Shine is a pharmaceutical and biotechnology executive with nearly 35 years of industry experience. Over the course of his career, Mr. Shine has held leadership positions within large pharmaceutical companies, including Novapharm Therapeutics, Colgate Oral Pharmaceutical, and Pfizer Vaccines (formerly Wyeth). He also served as Chief Marketing Officer with Thomas Reuters and spent more than eight years in the start-up pharmaceutical space.

“We are thrilled to welcome Mike to the Ocugen team as we take steps towards readiness for potential commercialization of COVAXIN in the US and Canada. As an established marketing and sales biopharma leader, Mike’s experience and commercial expertise will be instrumental to our market launches for Ocugen’s vaccine and ophthalmologic product pipelines, in each case if approved,” said Dr. Shankar Musunuri, Chairman of the Board, Chief Executive Officer, and Co-founder of Ocugen.

Mr. Shine led the successful commercial launch of the global $6 billion Prevnar vaccine franchise while with Pfizer Vaccines (formerly Wyeth). Mr. Shine was responsible for the development of innovative strategies for Prevenar’s inclusion in national immunization programs in key markets, driving sales in excess of $2 billion. Mr. Shine holds a Master of Business Administration from Villanova University, and a Bachelor of Science in business administration from the University of Scranton.  

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 US market. For more information, please visit http://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 interim data from Bharat Biotech’s Phase 3 trial in India), including the possibility of unfavorable new clinical trial data and further analyses of existing clinical trial data; the risk that the results of in-vitro studies will not be duplicated in human clinical trials; 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 we will be able to provide the U.S. Food and Drug Administration (FDA) with sufficient additional information regarding the design of and results from preclinical and clinical studies of COVAXIN, which have been conducted by Bharat Biotech in India in order for those trials to support a biologics license application (BLA), the size, scope, timing and outcome of any additional trials or studies that we may be required to conduct to support a BLA; any additional chemistry, manufacturing and controls information that we may be required to submit; the timing of our BLA filing; whether and when an application for authorization under interim order for emergency use will be filed in Canada; whether and when any such applications may be approved by Health Canada; whether developments with respect to COVID-19 pandemic will affect the regulatory pathway available for vaccines in the United States, Canada or other jurisdictions; market demand for COVAXIN in the United States or Canada; decisions by the FDA or Health Canada impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of COVAXIN in the United States or Canada, 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:
LaVoieHealthScience
Sharon Correia
scorreia@lavoiehealthscience.com