Esports Entertainment Group Launches New Pay-and-Play Casino Brand Targeting the Finnish Market

 


Esports Entertainment Group Launches New Pay-and-Play Casino Brand Targeting the Finnish Market

 

Newark, New Jersey–(Newsfile Corp. – August 3, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”), an esports entertainment and online gambling company, today announced the upcoming launch of Fiksukasino.com, a “pay-and-play” online casino brand targeting the Finnish gaming market. The Company’s Lucky Dino business has already experienced great success in Finland and is once again at the forefront of understanding player appetite in the region.

“Pay and play” is a rapidly growing concept in the online gaming industry that allows a player to bypass onerous registration processes, enabling safe and reliable play without delay. The smooth registration experience puts Fiksukasino in pole position when it comes to traffic sources and scaling customer acquisition.

“We are very excited for Lucky Dino to be launching this new brand. Bypassing the registration flow creates a much smoother and seamless experience for the player, offering instant deposit and withdrawals,” said Grant Johnson, CEO of Esports Entertainment Group. “This latest launch is a testament to the Lucky Dino team’s market awareness and product innovation and strengthens the foundations in a key market for the company.”

The Finnish gaming industry grew an estimated 9% in 2020 reaching nearly US$3 billion.

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.

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 – Comtech Telecommunications Corp. Awarded $2.1 Million Order for Full-Motion Tracking Systems from Commercial Space Entity


Comtech Telecommunications Corp. Awarded $2.1 Million Order for Full-Motion Tracking Systems from Commercial Space Entity

 

MELVILLE, N.Y.–(BUSINESS WIRE)–Aug. 3, 2021– 
August 2, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a global leading provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today, that during its fourth quarter of fiscal year 2021, it was awarded a 
$2.1 million follow-on contract from a commercial space company for several full-motion large aperture antenna tracking systems.

“This award, for this important project and customer, demonstrates the unique value proposition offered by Comtech’s antenna products for use in critical satellite ground system projects,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp.

The contract was awarded to Comtech’s Space & Component Technology (“SCT”) division, which specializes in ground station systems and life cycle management, as well as the supply of high reliability microelectronics (“EEE parts”) for use in satellite, launch vehicle and manned space applications.

Satellite tracking antennas are manufactured from 30cm to 13m, as well as RF feeds, radomes and carbon fiber reflectors, for LEO, MEO and GEO orbits, for customers worldwide, for all frequency bands. This encompasses all aspects of use including requirements definition and analysis, design, development, and integration of turnkey systems from antenna to data processing, civil works and construction, software, station installation and verification, operations and maintenance, and decommissioning at end of life. For more information, visit www.comtechspace.com.

Comtech Telecommunications Corp. is a leading provider of next-generation 911 emergency systems and critical wireless communication technologies to commercial and government customers around the world. Headquartered in 
Melville, New York and with a passion for customer success, 
Comtech designs, produces and markets advanced and secure wireless solutions to customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Comtech Investor Relations:
631-962-7005
investors@comtech.com

Source: 
Comtech Telecommunications Corp.

Release – Charity Holman Promoted to General Manager of WVVA in Bluefield WV


Charity Holman Promoted to General Manager of WVVA in Bluefield, WV

 

ATLANTA, Aug. 03, 2021 (GLOBE NEWSWIRE) — Gray Television, Inc. (“Gray”) (NYSE: GTN) has promoted Charity Holman to the position of General Manager of WVVA (NBC) in Bluefield, West Virginia. Charity succeeds Frank Brady, who recently retired as the station’s General Manager after more than 15 years with the television station and 47 years in broadcasting. Gray became the owner of WVVA upon its acquisition of Quincy Media, Inc. yesterday.

Since joining WVVA in September 2006, Charity has held a number of sales positions for the station. She has served as the station’s General Sales Manager since 2014, and she added the position Station Manager to her responsibilities in January 2019. In her new role, Charity will maintain her role as General Sales Manager.

Charity has long been active in the local community. She has served as an Executive Board member on the Chamber of Commerce of the Two Virginias for the last five years. Charity also serves on the Board of Directors for the Mercer County Child Protect. She received the “Volunteer of the Year” award from the Princeton Mercer County Chamber of Commerce in 2011.

Charity started her career in newspaper after graduating from Concord University with a B.A. in Communications with concentrations in Public Relations, Advertising, Broadcasting and Journalism.

About Gray Television:

Gray Television, headquartered in Atlanta, Georgia, is the largest owner of top-rated local television stations and digital assets in the United States.  Upon its anticipated acquisition of the television stations of Meredith Corporation, Gray will become the nation’s second largest television broadcaster, with television stations serving 113 markets that reach approximately 36 percent of US television households.  The pro forma portfolio includes 79 markets with the top-rated television station and 101 markets with the first and/or second highest rated television station according to Comscore’s audience measurement data.  Gray also owns video program production, marketing, and digital businesses including Raycom Sports, Tupelo Honey, and RTM Studios, the producer of PowerNation programs and content and is the majority owner of Swirl Films.

Contact Data

Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333

Release – Sierra Metals Subsidiary in Peru Sociedad Minera Corona Reports Q2-2021 Financial Results


Sierra Metals Subsidiary in Peru, Sociedad Minera Corona Reports Q2-2021 Financial Results

 

Sierra Metals’ Consolidated Financial Results Will Be Released on August 9, 2021

(All metal prices reported in USD)

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX:SMT) (BVL:SMT) (NYSE AMERICAN:SMTS) (“Sierra Metals” or “the Company”) announces the filing of Sociedad Minera Corona S.A.’s (“Corona”) unaudited Financial Statements and the Management Discussion and Analysis (“MD&A”) for the second quarter of 2021 (“Q2 2021”).

The Company holds an 81.8% interest in Corona. All amounts are presented in US dollars unless otherwise stated and have not been adjusted for the 18.2% non-controlling interest.

Corona’s Highlights for the Three Months Ended June 30, 2021

  • Revenues of US$50.8 million, a 117% increase from Q2 2020.
  • Adjusted EBITDA of US$25.9 million, a 231% increase from Q2 2020.
  • Total tonnes processed of 328,909, a 62% increase from Q2 2020.
  • Net production revenue per tonne of ore milled increased by 42% to US$151.51.
  • Copper equivalent pounds production increased 7% to 15.3 million pounds.
    Cash Cost per copper equivalent payable pound higher by 55% to US$1.41. All-in sustaining cost (“AISC”) per copper equivalent payable pound higher by 42% to US$2.57.
  • Zinc equivalent pounds production increased 29% to 49.9 million pounds.
    Cash cost per zinc equivalent payable pound higher by 28% to US$0.43. All-in sustaining cost (“AISC”) per zinc equivalent payable pound higher by 18% to US$0.79.
  • $72.5 million of cash and cash equivalents as at June 30, 2021.
  • $102.2 million of working capital as at June 30, 2021.

The Yauricocha mine processed 328,909 tonnes during the second quarter Q2 2021, representing an increase of 62% over the Q2 2020, despite continuing to face several operational challenges related to COVID-19. During the quarter, the treatment capacity in the concentrator plant was increased, obtaining improvements in efficiency and utilization.

Metal grades were negatively impacted during Q2 2021 due to the delays in the contribution from the Esperanza zone due to ground conditions, which have since been addressed and controlled.

Metal production for Q2 2021 was 54%, 35%, 23% and 22% higher for zinc, silver, gold and lead, respectively, while copper production was 11% lower compared to the same quarter of 2020.

Luis Marchese, CEO of Sierra Metals, commented, The Yauricocha Mine had a relatively strong quarter with increases in throughput, revenue and net income over the same period in 2020 and over the previous quarter in 2021. The Mine continues to deal with operational difficulties related to COVID-19, however, we are managing the impact using best practices. Our goal continues to be avoiding any mine closure while ensuring that strict protocols remain in place to protect the wellbeing of our employees and the local communities.”

He continued,“Looking ahead at the remainder of 2021 we have received the final permit required to expand the throughput at Yauricocha to 3,600 tonnes per day. We continue to work on the completion of a Preliminary Feasibility Study to support the planned expansion to 5,500 tonnes per day at the Yauricocha Mine. Brownfield and greenfield explorations programs are ongoing, and we continue to work to improve operations and manage costs in this challenging environment.”

He concluded, Minera Corona and the Yauricocha Mine continues to have a strong balance sheet to support the Company’s capital expenditures and growth initiatives, and we continue to work to improve per share value for all shareholders.

The following table displays selected unaudited financial information for the three and six months ended June 30, 2021:

(In thousands of US dollars, except cash cost and revenue Three Months Ended

 

Six Months Ended

 

per tonne metrics) June 30, 2021 June 30, 2020

Var %

June 30, 2021 June 30, 2020

Var %

 

 

Revenue $

50,830

 

23,405

 

117%

92,755

 

57,123

 

62%

Adjusted EBITDA (1)

25,851

 

7,805

 

231%

42,024

 

17,583

 

139%

Cash Flow from operations

25,620

 

7,263

 

253%

42,116

 

17,319

 

143%

Gross profit

25,774

 

8,562

 

201%

41,923

 

17,530

 

139%

Income Tax Expense

(9,111

)

(2,939

)

210%

(15,953

)

(7,709

)

107%

Net Income

12,554

 

1,849

 

579%

17,729

 

3,909

 

354%

 

 

Net production revenue per tonne of ore milled (2)

151.51

 

106.53

 

42%

139.86

 

113.36

 

23%

Cash cost per tonne of ore milled (2)

61.35

 

44.27

 

39%

60.89

 

59.44

 

2%

 

 

 

Cash cost per copper equivalent payable pound (2)

1.41

 

0.91

 

55%

1.45

 

1.06

 

36%

All-In Sustaining Cost per copper equivalent payable pound (2)

2.57

 

1.80

 

42%

2.62

 

2.05

 

28%

Cash cost per zinc equivalent payable pound (2)

0.43

 

0.34

 

28%

0.45

 

0.39

 

15%

All-In Sustaining Cost per zinc equivalent payable pound (2) $

0.79

 

0.67

 

18%

0.82

 

0.76

 

9%

 

 

(In thousands of US dollars, unless otherwise stated) June 30, 2021 December 31, 2020

 

 

 

 

Cash and cash equivalents $

72,549

 

65,027

 

 

 

Assets

262,392

 

235,263

 

 

 

Liabilities

62,873

 

53,473

 

 

 

Equity

199,519

 

181,790

 

 

 

(1) Adjusted EBITDA includes adjustments for depletion and depreciation, interest expense and other financing costs, interest income, share-based compensation, Foreign Exchange (gain) loss and income taxes; see non-IFRS Performance Measures section of the Company’s MD&A.

(2) All-In Sustaining Cost per copper equivalent pound and All-In Sustaining Cost per zinc equivalent pound sold are non-IFRS performance measures and include the cost of sales, treatment and refining charges, sustaining capital expenditures, general and administrative expense, and selling expense, and exclude workers’ profit sharing, depreciation, and other non-cash provisions; Cash cost copper equivalent pound sold and cash cost per zinc equivalent pound sold, net production revenue per tonne of ore milled, and cash cost per tonne of ore milled are non-IFRS performance measures; see non-IFRS Performance Measures section of the Company’s MD&A.

The following table displays average realized metal prices information for the three and six months ended June 20, 2021, vs June 30, 2020:

Average realized prices  

Three months ended June 30,

Increase

Six months ended June 30,

Increase

In US$  

2021

2020

(%)

2021

2020

(%)

Silver ($/oz)  

26.80

16.59

62%

26.62

16.58

61%

Copper ($/lb)  

4.37

2.40

82%

4.13

2.46

68%

Zinc ($/lb)  

1.34

0.89

51%

1.29

0.91

42%

Lead ($/lb)  

0.97

0.76

28%

0.94

0.78

21%

Gold ($/oz)  

1,818

1,722

6%

1,798

1,654

9%

Corona’s Financial Highlights for the Three and Six Months Ended June 30, 2021

  • Q2 2021 revenue of $50.8 million compared to $23.4 million for the same quarter of 2020. Sales for the quarter increased mainly due to higher metal prices and the application of new commercial copper terms since April 2021 that more than offset the lower amounts of metals sold compared to the second quarter of 2020. Revenue for H1 2021 was $92.8 million, which is an increase of 62% from the $57.1 million of revenues in H1 2020. The increase in revenues was driven mainly by higher average realized metal prices and decrease in treatment and refining charges as compared to H1 2020.
  • Cash Cost per copper equivalent payable pound was $1.41 compared to $0.91 for the same quarter of 2020 ($1.45 for H1 2021 versus $1.06 in H1 2020). Cash Cost per zinc equivalent payable pound was $0.43 compared to $0.34 for the same quarter of 2020 ($0.45 for H1 2021 versus $0.39 in H1 2020).
  • AISC per copper equivalent payable pound was $ 2.57 for the second quarter of 2021 compared to $ 1.80 for the same period of 2020. AISC per zinc equivalent payable pound was $0.79 compared to $0.67 for the same period of 2020. AISC increased during Q2 2021 as the increase in the equivalent payable metals could not offset the increase in costs. Copper equivalent payable pounds increased 5% to 13.8 million and zinc equivalent payable pounds increased 26% to 45.2 million compared to the same quarter of 2020. Sustaining capital investment was significantly higher as the Company resumed its capital projects, whereas in Q2 2020, capital projects were deferred or cancelled due the problems related to COVID.
    For H1 2021, AISC per copper equivalent payable pound was $2.62 as compared to $2.05 in H1 2020. The increase was driven by higher cost of production and 11% decrease in copper equivalent payable pounds as compared to the six-month period of 2020. AISC per zinc equivalent payable pound was $0.82 as compared to $0.76 in H1 2020, as a 5% increase in the zinc equivalent payable pounds partially offset the increase in costs. Sustaining costs for H1 2021 included a 6% decline in treatment and refining costs.
  • Adjusted EBITDA of $25.9 million for Q2 2021 as compared to $7.8 million for the same quarter of 2020 and $42.0 million for H1 2021 as compared to $17.6 million for H1 2020, higher primarily due to increased net income from higher metal prices.
  • Operating cash flows before movements in working capital of $25.6 million for Q2 2021, compared to $7.3 million for Q2 2020. The increase in operating cash flows before movements in working capital was primarily due to the increase in revenues, discussed previously. For the six-month period of 2021, operating cash flows before movements in working capital increased to $42.1 million from $17.3 million during the same period of 2020.
  • Cash and cash equivalents of $72.5 million as at June 30, 2021, compared to $65.0 million as at December 31, 2020. Cash and cash equivalents increased due to $14.9 million of cash generated from operating activities partially offset by $7.3 million of cash used in investing activities and $3.1 million used in financing activities.
  • Net income of $12.6 million, or $0.349 per share for Q2 2021 ($17.7 million or $0.493 per share for H1 2021) compared to net income of $1.8 million, or $0.051 per share for Q2 2020 ($3.9 million or $0.11 per share for H1 2020).

Corona’s Operational Highlights for the Three and Six Months Ended June 30, 2021:

The following table displays the production results for the three and six months ended June 30, 2021:

Yauricocha Production

Three Months Ended June 30

Six Months Ended June 30

2021

2020

% Var.

2021

2020

% Var.

 
Tonnes processed

328,909

202,534

62%

655,120

487,759

34%

Daily throughput

3,759

2,315

62%

3,744

2,787

34%

 
 
Silver grade (g/t)

56.94

66.37

-14%

55.65

66.07

-16%

Copper grade

0.70%

1.21%

-42%

0.63%

1.17%

-46%

Lead grade

1.20%

1.63%

-26%

1.27%

1.59%

-20%

Zinc grade

3.27%

3.48%

-6%

3.49%

3.74%

-7%

Gold Grade (g/t)

0.45

0.62

-27%

0.44

0.66

-33%

 
Silver recovery

80.14%

82.82%

-3%

79.70%

82.82%

-4%

Copper recovery

72.67%

77.19%

-6%

69.84%

77.19%

-10%

Lead recovery

90.14%

88.08%

2%

90.15%

88.08%

2%

Zinc recovery

89.23%

88.32%

1%

89.82%

88.32%

2%

Gold Recovery

21.99%

21.18%

4%

20.91%

21.18%

-1%

 
 
Silver production (000 oz)

483

358

35%

934

853

9%

Copper production (000 lb)

3,697

4,164

-11%

6,379

9,548

-33%

Lead production (000 lb)

7,831

6,406

22%

16,537

15,014

10%

Zinc production (000 lb)

21,133

13,741

54%

45,256

35,387

28%

Gold Production (oz)

1,043

850

23%

1,933

2,104

-8%

 
 
Copper equivalent pounds (000’s)(1)

15,308

14,354

7%

31,142

34,549

-10%

Zinc equivalent pounds (000’s)(1)

49,923

38,723

29%

99,701

93,404

7%

 

(1) Copper and zinc equivalent pounds for Q2 2021 were calculated using the following realized prices: $26.80/oz Ag, $4.37/lb Cu, $1.34/lb Zn, $0.97/lb Pb, $1,818/oz Au. Copper and zinc equivalent pounds for Q2 2020 were calculated using the following realized prices: $16.59/oz Ag, $2.40/lb Cu, $0.89/lb Zn, $0.76/lb Pb, $1,722/oz Au. Copper and zinc equivalent pounds for 6M 2021 were calculated using the following realized prices: $26.62/oz Ag, $4.13/lb Cu, $1.29/lb Zn, $0.94/lb Pb, $1,798/oz Au. Copper and zinc equivalent pounds for 6M 2020 were calculated using the following realized prices: $16.58/oz Ag, $2.46/lb Cu, $0.91/lb Zn, $0.78/lb Pb, $1,654/oz Au.
(2) The increase in copper equivalent pounds was lower than the increase in zinc equivalents due to the 82% increase in realized prices for copper ($4.37/lb in Q2 2021 versus $2.40/lb in Q2 2020) as compared to the 51% increase in realized prices for zinc ($1.34/lb in Q2 2021 versus $0.89/lb in Q2 2020)

Quality Control

The contents of this press release have been reviewed by Américo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning, who is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Sierra Metals

Sierra Metals Inc. 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 18, 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
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.

Release – Euroseas Ltd. Announces New Charter for One Of Its Vessels MV EM Spetses


Euroseas Ltd. Announces New Charter for One Of Its Vessels, M/V “EM Spetses”

 

ATHENS, Greece, Aug. 02, 2021 (GLOBE NEWSWIRE) — Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container vessels and provider of seaborne transportation for containerized cargoes, announced today a new time charter contract for its container vessel M/V “EM Spetses”.

Specifically, M/V “EM Spetses”, a 1,740 TEU vessel built in 2007, entered into a new time charter contract for a period between a minimum of thirty-six (36) and a maximum of forty (40) months at the option of the charterer, at a gross daily rate of $29,500. The new rate will commence on August 5, 2021 when the vessel is redelivered from its current charterer.

Aristides Pittas, Chairman and CEO of Euroseas commented: “We are pleased to announce the new charter for our vessel, M/V “EM Spetses”, for about three years at a rate about three and a half times the level of its current employment. EM Spetses’ new daily rate of $29,500 is the second highest rate earned by a vessel in our fleet and, notably, by one of our smallest vessels. This fixture follows the fixture of our M/V “EM Hydra”, a sister vessel of M/V “EM Spetses” built in 2005, that was fixed about three months ago for an approximately two-year long charter at a gross daily rate of $20,000 indicating how strongly the market has risen in the span of just three months. This new charter will secure us with a minimum of $31 million of contracted revenues and have a minimum EBITDA contribution of approximately $24 million. At the same time, Euroseas is well positioned to take advantage of a further rising market with four more ships, about 30% of our fleet on-the-water, which are expected to open up till the end of the year.”

Fleet Profile:

The Euroseas Ltd. fleet profile is as follows:

Name Type Dwt TEU Year
Built
Employment(*) TCE Rate ($/day)

Container Carriers
           
AKINADA BRIDGE (*) Intermediate 71,366 5,610 2001 TC until Oct-21
plus 10-12
months option
$17,250; option
$20,000
SYNERGY BUSAN (+) Intermediate 50,726 4,253 2009 TC until Aug-21 /
TC until Aug-24
$12,000
$25,000
SYNERGY ANTWERP (*) Intermediate 50,726 4,253 2008 TC until Sep-23 $18,000
SYNERGY OAKLAND (*) Intermediate 50,787 4,253 2009 TC until Jun-21 CONTEX(1) 4,250
less 10% i.e.
$64,660 from of
7/22/21 until
10/22/21
SYNERGY KEELUNG (+) Intermediate 50,969 4,253 2009 TC until Jun-22
plus 8- 12
months option
$10,000 until Jun-
21; $11,750 until
Jun-22; option
$14,500
EM KEA (*) Feeder 42,165 3,100 2007 TC until May-23 $22,000
EM ASTORIA (+) Feeder 35,600 2,788 2004 TC until Feb-22 $18,650
EVRIDIKI G (+) Feeder 34,677 2,556 2001 TC until Jan-22 $15,500
EM CORFU (*) Feeder 34,654 2,556 2001 TC until Sep-21 $10,200
DIAMANTIS P (+) Feeder 30,360 2,008 1998 TC until Aug-21 $6,500
EM SPETSES (+) Feeder 23,224 1,740 2007 TC until Aug-24 $29,500
EM HYDRA (*) Feeder 23,351 1,740 2005 TC until April-23 $20,000
JOANNA (*) Feeder 22,301 1,732 1999 TC until Oct-22 $16,800
AEGEAN  EXPRESS (*) Feeder 18,581 1,439 1997 TC until Mar-22 $11,500

Total Fleet “on-the-water”
14 539,487 42,281      
Newbuildings Type Dwt TEU TBD(2)    
H4201 Feeder 37,237 2,800 Q1 ‘23  –
H4202 Feeder 37,237 2,800 Q2 ‘23  –
Total Fleet(3) 16 613,961 47,881      

Notes
(*) / (+) TC denotes time charter. All dates listed are the earliest redelivery dates under each time charter unless the contract rate is lower than the current market rate in which cases the latest redelivery date is assumed; vessels with the latest redelivery date shown are marked by (+).
(1) The CONTEX (Container Ship Time Charter Assessment Index) has been published by the Hamburg and Bremen Shipbrokers’ Association (VHBS) since October 2007. The CONTEX is a company-independent index of time charter rates for container ships. It is based on assessments of the current day charter rates of six selected container ship types, which are representative of their size categories: Type 1,100 TEU and Type 1,700 TEU with a charter period of one year, and the Types 2,500, 2,700, 3,500 and 4,250 TEU, all with a charter period of two years.
(2) Calendar quarter vessel is scheduled to be delivered (“TBD”)
(3) On a fully delivered basis

About Euroseas Ltd.
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA. 

Euroseas operates in the container shipping market. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. 

The Company has a fleet of 14 vessels on the water, including 9 Feeder containerships and 5 Intermediate Container carriers and two feeder ships under newbuilding contracts. After the delivery of the latter two vessels, Euroseas 16 containerships will have a cargo capacity of 47,881 teu.

Forward Looking Statement
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 and the Company’s growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that 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 changes in the demand for containerships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. 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. 

Visit our website www.euroseas.gr

Company Contact Investor Relations / Financial Media
Tasos Aslidis
Chief Financial Officer
Euroseas Ltd.
11 Canterbury Lane,
Watchung, NJ 07069
Tel. (908) 301-9091
E-mail: aha@euroseas.gr
Nicolas Bornozis
President
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, NY 10169
Tel. (212) 661-7566
E-mail: nbornozis@capitallink.com

Release – Esports Entertainment Group Launches New Pay-and-Play Casino Brand Targeting the Finnish Market

 


Esports Entertainment Group Launches New Pay-and-Play Casino Brand Targeting the Finnish Market

 

Newark, New Jersey–(Newsfile Corp. – August 3, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”), an esports entertainment and online gambling company, today announced the upcoming launch of Fiksukasino.com, a “pay-and-play” online casino brand targeting the Finnish gaming market. The Company’s Lucky Dino business has already experienced great success in Finland and is once again at the forefront of understanding player appetite in the region.

“Pay and play” is a rapidly growing concept in the online gaming industry that allows a player to bypass onerous registration processes, enabling safe and reliable play without delay. The smooth registration experience puts Fiksukasino in pole position when it comes to traffic sources and scaling customer acquisition.

“We are very excited for Lucky Dino to be launching this new brand. Bypassing the registration flow creates a much smoother and seamless experience for the player, offering instant deposit and withdrawals,” said Grant Johnson, CEO of Esports Entertainment Group. “This latest launch is a testament to the Lucky Dino team’s market awareness and product innovation and strengthens the foundations in a key market for the company.”

The Finnish gaming industry grew an estimated 9% in 2020 reaching nearly US$3 billion.

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.

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

Would a 25 Percent Tax on Marijuana Encourage Illegal Dealing?



What’s in the Senate’s Marijuana Tax Proposal

 

Is a nationwide excise tax of 25% on marijuana the right number? The 163-page “discussion draft” presented in the Senate suggests that it is. Is that in line with other prescription and over-the-counter pharmaceuticals? Is it in line with other “vice” products like alcohol, cigarettes, and coffee? Would a 25% tax push marijuana sales back in the shadows of fast-food parking lots and street corners? We look at what’s between 163 pages and explore these questions below.

 

Benefits

The draft bill of Senate Majority Leader Chuck Schumer’s federal marijuana reform legislation would set a nationwide cannabis excise tax initially at 10%, it then rises to 25% in five years. In exchange, The Cannabis Administration and Opportunity Act would unchain marijuana from federal roadblocks and hurdles by removing marijuana from the federal Controlled Substance Act. This does not include any state tax levies.

The top benefits of the proposal are that it would allow the industry to participate in the banking process similar to other industries and also allow cannabis businesses to deduct expenses provided to other legal industries (eliminate IRS compliance with Section 280E).

Comparisons

Other pharmaceuticals, including pain relievers that are sold over the counter, are taxed on a state level, and many states make them exempt. Coffee is taxed if prepared and served in most states but falls under the food category of taxation if bought at a grocer. Most groceries are not taxed directly from the consumer by the state or federal government. The federal excise tax on cigarettes and other tobacco products is just over $1.00 per pack. Large cigars are taxed at 52.75 percent of the manufacturer’s sales price, with a maximum tax of 40.26 cents per cigar. Federal tax rates on alcohol are progressive; for distilled spirits, the government charges $2.70 per proof gallon on the first 100,000 proof gallons in production. Then, a tax rate of $13.34 per proof gallon for the next 22,130,000 proof gallons in production. This increases to $13.50 per proof gallon for production in excess of 22,230,000 proof gallons. Although some see marijuana and alcohol in the same light, current-day medical doctors don’t prescribe distilled spirits for any malady.

For marijuana, beginning in year five, the tax would be levied on a per-ounce rate for cannabis flower or a per-milligram of THC rate for extracts. The rate would be determined by the U.S. Secretary of the Treasury to be equivalent to 25% of the revenue received from cannabis sold in the U.S. in the prior year. Producers with more than $20 million in sales would be eligible for a tax credit on their first $20 million of cannabis sold annually. Sales above that amount would be subject to the full excise tax. Mathematically, some growers might prefer their crop to remain federally illegal with full 280e restrictions on deductions.

If conditions of the draft bill are enacted, regulatory responsibility of marijuana would be transferred from the U.S. Drug Enforcement Agency (DEA) to the Alcohol and Tobacco Tax and Trade Bureau (TTB), and the Bureau of Alcohol Tobacco Firearms and Explosives (ATF). 

The draft Bill is 163 pages of legalese. It represents the thinking of the party in control (drafted by Senator Schumer, NY and Senator Booker, CA) it should be understood and awaits comments from stakeholders. Below is a synopsis.

Cannabis Draft Bill Summary

  • Decriminalization of Cannabis, Recognition State laws Have Control
    • This section removes cannabis from the Controlled Substances Act.
    • It transfers agency jurisdiction from the DEA to the TTB, and ATF. This jurisdiction would follow the same agency responsibilities established for alcohol and tobacco
    • Recognition that state laws control the possession, production, and distribution of marijuana. It retains criminal penalties in the case of unlawful possession, production, distribution, or purchase of cannabis
    • The bill authorizes the establishment of regulations to track and trace the manufacture and transport of cannabis products
    • Authorization to the Secretary of Health and Human Services to continue to include cannabis for drug testing of Federal employees
  • Research, Prevention, and Training
    • Directs the Comptroller General to conduct an evaluation for Congress on the societal impact of legalization by states. It is specifically related to the adult-use of cannabis-related to -related deaths and violent crime
    • Directs the Dept. of Health and Human Services to research the effects of cannabis on health conditions
    • The Department of Transportation would be directed to supply statistics on cannabis-impaired driving to foster the creation of an impairment standard for driving under the influence
  • Allows the Administrator to provide guarantees for loans to eligible cannabis small businesses or service providers.
  • Restorative Justice and Opportunity Initiatives
    • Requires expungement of federal non-violent marijuana convictions and resentencing within one year of enactment and encourages states to follow suit.
  • Taxation of Cannabis and Establishment of Trust Fund
    • Requires a federal permit to sell cannabis products wholesale.
    • Imposes an excise tax on cannabis products, similar to tobacco. The draft suggests 10% for the year of enactment, to be increased annually by 5% each year for 5 years. After 5 years, the tax would be levied on a per-ounce rate.
  • Public Health, Cannabis Administration, and Trade Practices
    • Creates a legal pathway for CBD in dietary supplements and outlines the FDA’s ability to regulate cannabis distribution based on administration standards similar to current regulations for drugs and devices.

The draft is requesting comments on issues such as the necessary funding levels and resources for agencies to implement the bill, consideration of transition rules and effective dates, interactions with state and local laws and international obligations and treaties, and additional opportunities to expand restorative justice.

Take-Away

Changes are afoot in the federal government concerning cannabis. Investors will find that altered regulation and acceptance impact the bottom line of the companies they are invested in. Not missing a new legislative proposal or enactment means watching the feds activity from various sources. Register free for Channelchek to receive our insight daily in your inbox.

 

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading:



The Cannabis Administration and Opportunity Act Would Open Doors



Marijuana and Sports, Where Officials Stand





Clarence Thomas Statement on “Half in / Half out” Marijuana Laws



Will Federal Law Surrounding Marijuana be Changed?

 

Sources:

https://www.democrats.senate.gov/imo/media/doc/Cannabis%20Administration%20and%20Opportunity%20Act.pdf

https://www.democrats.senate.gov/newsroom/press-releases/majority-leader-schumer-senate-finance-committee-chair-wyden-and-senator-booker-release-discussion-draft-of-cannabis-administration-and-opportunity-act-legislation-to-end-the-federal-cannabis-prohibition-and-unfair-targeting-of-communities-of-color

https://www.forbes.com/sites/kellyphillipserb/2016/09/29/12-quirky-facts-about-coffee-tax-on-national-coffee-day/?sh=63af49d45b91

https://center-forward.org/explaining-alcohol-excise-taxes/

https://www.cbo.gov/budget-options/56869
https://www.cdc.gov/statesystem/factsheets/excisetax/ExciseTax.html
https://www.pwc.com/gx/en/pharma-life-sciences/pdf/ph2020_tax_times_final.pdf

https://www.taxpolicycenter.org/briefing-book/what-are-major-federal-excise-taxes-and-how-much-money-do-they-raise

 

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Should the Market Continue To be Concerned with Covid Cases?



The Combined Wisdom of the Stock Market Seems to Say “Covid is so 2020”

 

Stock performance seems to be in contradiction to the uproar in mainstream media and some social media as they report stats on rising Covid-19 cases. It seems like once a week, markets break record highs, and it has been over a year since the S&P 500 has dropped by 5% or more. This indicates that investors are feeling positive as they look forward to corporate earnings and U.S. economic growth during the remainder of 2021.

Headlines Ignored

After a year and a half of what is presumably the worst of everything that comes with this virus, individual investors that weigh probabilities of whether a stock will go up or down may be relying on recent history that suggests the worst didn’t turn out bad for their portfolios. For professionals that are expected to maximize risk/return performance, they are better able to defend performance numbers because they were “fully” invested rather than keeping cash on the sidelines.

Fear-inducing reports that last year could have led to selling are taken in stride mid-year 2021 So much so that even when broadcast and print news are highlighting that a more contagious variation of Covid-19 is making its way around, the market reaches all-time highs. There is widespread reporting that those inoculated to make them immune to Covid may not be able to avoid being infected with mutations from the original. Examples include the nine Olympians that were inoculated but could not compete because they tested positive for Covid. Making headlines in the U.S.,  of the 469 new cases in the county containing Cape Cod, Massachusetts, 74% were in people who’d been given a Covid shot. As states and localities determine if they should clamp down on citizens and businesses, market participants seem to be saying, “it can’t be as bad as last year” and “…Last year the market ended terrific.” So Covid may be viewed as a positive by some investors, many new traders that are helping move the market may not know how to trade without the news volatility and added liquidity of a prolonged pandemic.

Statistics

Coming into Monday (August 2), the seven-day average of new Covid cases in the U.S. was approximately 80,000, up 129% since the seven-day period ending July 19. S&P 500 and Dow Jones Industrial Average futures, however, were up about 0.5% and 0.4%, respectively. The “Covid trade” may be losing its power.

 

Take-Away

We live in a global economy. The worldwide seven-day average of new Covid cases is about 596,000, up only 15% from the seven-day period ending July 19. That is from a number that is well off its peak and certainly better than the reported U.S. 129% figure.  Excluding the U.S. figures, the worldwide seven-day average is about 517,000, up 6% from the level on July 19. Every day 3700 people around the globe are killed in traffic accidents, many more are seriously hurt. The market has become accustomed to those figures; perhaps they are growing accustomed to living with this additional threat.

Register for Channelchek, no uproar, simply level reporting.

 

Suggested Content



Higher Foot Traffic in Lower Vaccination States



Long Term Retirement Money and Fledgling Companies





The Seeking Alpha Paywall Causes Frustration



Train the Body’s Own Cells to Combat Microbiotic Resistance

 

Sources

https://www.medpagetoday.com/infectiousdisease/covid19vaccine/93830

https://www.medpagetoday.com/infectiousdisease/covid19vaccine/93830

 

Stay up to date. Follow us:

 

Release – Energy Fuels Announces Q2-2021 Results

 

 


Energy Fuels Announces Q2-2021 Results, Including Robust Balance Sheet, Market Leading U.S. Uranium and Vanadium Position & Launch of U.S. Commercial Rare Earth Production; Webcast on August 3, 2021

 

LAKEWOOD, Colo.July 30, 2021 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (“Energy Fuels” or the “Company”) today reported its financial results for the quarter ended June 30, 2021. The Company’s quarterly report on Form 10-Q has been filed with the U.S. Securities and Exchange Commission (“SEC“) and may be viewed on the Electronic Document Gathering and Retrieval System (“EDGAR“) at www.sec.gov/edgar.shtml, on the System for Electronic Document Analysis and Retrieval (“SEDAR“) at www.sedar.com, and on the Company’s website at www.energyfuels.com. Unless noted otherwise, all dollar amounts are in U.S. dollars.

Highlights:

  • At June 30, 2021, the Company had $98.8 million of working capital, including $79.4 million of cash and marketable securities and $29.2 million of inventory. At current commodity prices, the Company’s inventory has a value of $39.1 million.
  • During the quarter ended June 30, 2021, the Company incurred a net loss of $10.8 million, which included a non-cash mark-to-market increase in warrant liabilities during the quarter of $3.6 million resulting from a significant increase in the Company’s share price.
  • With several existing uranium mines on standby and significant existing inventories of Company-produced, U.S.-origin uranium, the Company continues to be ready to supply uranium into improved global markets and the proposed U.S. Uranium Reserve once it is established by the U.S. government.
  • During the first half of 2021, the Company began ramping up to commercial-scale production of a mixed rare earth element (“REE”) carbonate (“RE Carbonate”), as a complement to its uranium business. In July 2021, Energy Fuels commenced deliveries of its RE Carbonate to a separation facility in Europe.
  • The Company has entered into a definitive agreement to sell a package of Energy Fuels’ non-core conventional uranium projects located in Utah and Colorado to International Consolidated Uranium Inc. (“CUR”). Based on CUR’s current share price, exchange rates and assuming the closing and full performance of the agreement, the current proforma value of this divestment is approximately US$24 million.
  • The Company has entered into a strategic alliance agreement with RadTran, LLC, a private technology development company, to evaluate the recovery of thorium and potentially radium from the Company’s RE Carbonate and uranium process streams, as a complement to its uranium and RE Carbonate businesses, for use in the production of medical isotopes for emerging targeted alpha therapy (“TAT“) cancer therapeutics.

Mark S. Chalmers, Energy Fuels’ President and CEO, stated:

“Energy Fuels achieved another significant milestone in restoring U.S. rare earth supply chains when we recently announced the successful production of rare earth carbonate from U.S.-sourced natural monazite sand at our White Mesa Mill. We are also very excited about our recently announced Strategic Alliance with RadTran, which has the potential to help produce isotopes from our existing RE Carbonate and uranium process streams for use in cancer therapeutics that can improve human health and ultimately save lives. These two initiatives, which are complementary to our core uranium business, are examples of the unique and valuable capabilities of the White Mesa Mill.

“We also announced the sale of several non-core conventional uranium assets to International Consolidated Uranium. These are licensed uranium assets, with excellent production track-records. But we don’t think markets value these assets appropriately within our portfolio. With this accretive disposition, we hope to unlock value in these excellent assets for our shareholders.

“The outlook for uranium also continues to improve, vanadium markets are strengthening and REE prices continue to exhibit strength. With three fully licensed uranium processing centers — the White Mesa Mill and the Nichols Ranch and Alta Mesa in situ recovery facilities — the largest NI 43-101 resource portfolio among U.S. uranium producers, and almost 700,000 pounds of U.S.-produced U3O8 in inventory, the Company remains well-positioned to benefit from a strengthening uranium market and the proposed U.S. Uranium Reserve once it is established by the U.S. government. But what I find most exciting about all this is that not only do we have excellent optionality and exposure to improved uranium markets, we are also leveraging our existing uranium assets to give the Company and our shareholders exposure to vanadium, REEs and potentially medical isotope markets, all as complements to our primary uranium business. Each of these complementary businesses could develop into a significant business for the Company in its own right and bodes well for our quickly developing “Critical Minerals Hub” in the U.S.”

Webcast on Tuesday, August 3, 2021 at 4:00 pm ET (2:00 pm MT):

Energy Fuels will be hosting a video webcast Tuesday, August 3, 2021 at 4:00 pm ET (2:00 pm MT) to discuss its Q2-2021 financial results, rare earth production and other corporate initiatives. To join the webcast and access the presentation and the viewer-controlled webcast slides, please click on the link below:

Energy Fuels Q2-2021 Results Webcast

If you would like to participate in the webcast and ask questions, please dial in to (888) 664-6392 (toll free in the U.S. and Canada).

A link to a recorded version of the proceedings will be available on the Company’s website shortly after the webcast by calling (888) 390-0541 (toll free in the U.S. and Canada) and by entering the code 679255#. The recording will be available until August 17, 2021.

Selected Summary Financial Information:




$000’s, except per share data

Six months ended June 30,
2021

Six months ended June 30,
2020




Total revenues

$

809

$

788

Gross profit (loss)

809

(718)

Operating Loss

(17,189)

(14,276)

Net income (loss) attributable to the company

(21,692)1

(13,844)

Basic and diluted loss per share

(0.15)1

(0.12)




$000’s

As at June 30, 2021

As at December 31, 2020




Financial Position:



Working capital

$

98,773

$

40,158

Property, plant and equipment, net

22,819

23,621

Mineral properties, net

83,539

83,539

Total assets

242,180

183,236

Total long-term liabilities

13,852

13,376

1.

Net loss and loss per share for the six months ending June 30, 2021 include a non-cash mark-to-market increase in warrant liabilities of $7.05 million, as a result of a significant increase in the Company’s share price during that period. Net loss and loss per share for the six months ending June 30, 2020 include a non-cash mark-to-market decrease in warrant liabilities of $0.1 million, as a result of an insignificant decrease in the Company’s share price during that period.

Financial Discussion:

At June 30, 2021, the Company had $98.8 million of working capital, including $79.4 million of cash and marketable securities and $29.2 million of inventory, including approximately 691,000 pounds of uranium and 1,672,000 pounds of high-purity vanadium, both in the form of immediately marketable product. The current spot price of U3O8, according to TradeTech, is $32.50 per pound (up 7% in 2021), and the current mid-point spot price of V2O5, according to Metal Bulletin, is $9.88 per pound (up 83% in 2021). Based on those spot prices, the Company’s uranium and vanadium inventories have a current market value of $22.5 million and $16.5 million, respectively, totaling $39.0 million.

During the quarter ended June 30, 2021, the Company incurred a net loss of $10.8 million, compared to a net loss of $8.2 million for the second quarter of 2020, and a net loss of $21.7 million year-to-date compared to $13.8 million during the first six months of 2020. The increased net losses in 2021 are due primarily to increased development expenditures incurred in ramping up our RE Carbonate production at the White Mesa Mill in Utah (the “Mill“) and a non-cash mark-to-market increase in warrant liabilities during the quarter of $3.6 million and $7.1 million year to date, resulting from an increase in the Company’s share price.

Commencement of Rare Earth Carbonate Deliveries in 2021:

On July 7, 2021, the Company and Neo Performance Materials Inc. (“Neo”) jointly announced that the first container (approximately 20 tonnes of product) of an expected first run of 15 containers of RE Carbonate was successfully produced by Energy Fuels at the Mill and is en route to Neo’s Silmet rare earth separations facility in Estonia, creating a new United States-to-Europe rare earth supply chain.

Monazite sand is widely recognized as one of the most valuable rare earth minerals in the World, due to its superior distributions of magnetic REEs needed for various clean energy, defense and other advanced technologies. Natural monazite sand is currently recovered as a low-cost byproduct of heavy mineral sand (“HMS”) operations in the U.S. and elsewhere in the world. The historic challenge with monazite is that it contains higher concentrations of natural uranium, thorium and other radionuclides relative to other minerals, thereby requiring specific licenses and specialized technical capabilities to handle and process. Energy Fuels currently holds the required licenses, and we have developed the ability to unlock the value of this domestic resource over the past 20+ years of recycling numerous feeds for the recovery of uranium. Energy Fuels’ commercial-scale production of RE Carbonate from U.S.-mined natural monazite sand positions Energy Fuels as the only company in North America currently producing a monazite-derived, enhanced rare earth material.

The Company and Neo also announced the signing of a definitive supply agreement under which Energy Fuels will ship all or a portion of its RE Carbonate to Neo’s Silmet facility for processing into separated rare earth materials used in rare earth permanent magnets and other rare earth-based advanced materials. We believe Energy Fuels is well on its way to creating a new, low-cost, fully integrated U.S. rare earth supply chain that meets the highest global standards for environmental protection, sustainability and human rights, that allows for source validation and tracking from mining through final end-use applications for manufacturers in North AmericaEuropeJapan and other nations.

We are currently scoping the potential to produce separated REE oxides using proven solvent extraction (“SX”) technology that we have utilized for the recovery of uranium and vanadium over the past 40+ years. We are also evaluating moving farther down the REE supply chain to produce certain rare earth metals, alloys and other products.

Sale of Non-Core Conventional Assets to International Consolidated Uranium Inc:

On July 15, 2021, the Company and International Consolidated Uranium Inc. (“CUR”) jointly announced the signing of a definitive asset purchase agreement under which CUR will acquire a portfolio of Energy Fuels’ non-core conventional uranium projects located in Utah and Colorado, including the Daneros mine, the Tony M mine, the Rim mine, the Sage Plain project, and several U.S. Department of Energy leases. In addition, at closing the Company and CUR will enter into toll-milling and operating agreements with respect to the properties. The consideration payable by CUR to Energy Fuels includes US$2 million cash payable at closing, such number of shares that results in Energy Fuels holding 19.9% of the outstanding CUR common shares immediately after closing, Cdn$6 million of deferred cash payable over time, and up to Cdn$5 million of deferred cash payable on the commencement of commercial production at the properties. Through this accretive disposition, Energy Fuels believes the value of these high-quality, permitted, and past-producing mines can be unlocked for Company shareholders, while also cutting standby costs, earning management fees, and potentially realizing toll milling fees in the future. Based on the current CUR share price, exchange rates and assuming the closing and full performance of the agreement, the proforma value of this divestment is approximately US$24 million.

Collaboration with RadTran, LLC on Recovering Medical Isotopes for Advanced Cancer Therapies:

On July 28, 2021, the Company announced the execution of a Strategic Alliance Agreement with RadTran, LLC, a technology development company focused on closing critical gaps in the procurement of medical isotopes for emerging targeted alpha therapy (“TAT”) cancer therapeutics and other applications. Under this strategic alliance, the Company will evaluate the feasibility of recovering Th-232, and potentially Ra-226 from its existing uranium and RE Carbonate process streams at the Mill and, together with RadTran evaluate the feasibility of recovering Ra-228 from the Th-232 and Th-228 from the Ra-228 at the Mill using RadTran technologies. The recovered Ra-228, Th-228 and potentially Ra-226 would then be sold to pharmaceutical companies and others to produce Pb-212, Ac-225, Bi-213, Ra-224 and Ra-223, which are the leading medically attractive TAT isotopes for the treatment of cancer. Existing supplies of these isotopes for TAT applications are in short supply, and methods of production are costly and currently cannot be scaled to meet the demand as new drugs are developed and approved. This is a major roadblock in the research and development of new TAT drugs as pharmaceutical companies wait for scalable and affordable production technologies to become available. Under this exciting initiative, the Company has the potential to recycle valuable isotopes from its existing process streams, that would otherwise be lost to disposal, for use in the treatment of cancer.

Market Conditions

The outlook for uranium continues to improve, as demand continues to outpace supplies and uranium juniors and financial intermediaries enter the market to purchase uranium and build inventories. The weekly spot price for uranium has increased 4% from $31.25 to $32.50 per pound during the quarter and 7% from $30.40 to $32.50 during the first six months of 2021. The spot price of uranium is currently at $32.50 per pound as of July 23, 2021. Energy Fuels holds 691,000 pounds of U.S.-origin uranium in inventory that we recently produced at our own facilities in the U.S. through our low-cost alternate feed material production, which is among the lowest-cost uranium production in the world today.

Vanadium markets are also strengthening. An improving global economy, coupled with political unrest in South Africa and other factors, has caused vanadium prices to rise 83% this year, from $5.40 per pound as of December 25, 2020 to $8.75 per pound as of June 25, 2021 to $9.88 per pound as of July 30, 2021. Vanadium is a valuable clean energy metal, historically used in steel, master alloys, and chemicals. It is also seeing considerable interest in emerging grid-scale battery technologies used to store renewable energy. Energy Fuels also holds about 1.7 million pounds of finished high-purity vanadium pentoxide in inventory, plus 1.5 to 3.0 million pounds of solubilized vanadium inventory in the Mill’s tailings solutions that we can recover relatively quickly. We also hold large quantities of high-grade vanadium resources at our standby mines where we recently developed new mining techniques that we believe can increase production and lower costs when mining resumes in the future. The Mill was the largest U.S. vanadium producer as recently as 2019.

Finally, REE prices continue to be strong, with the price of NdPr increasing 48% year to date from $78.50/kg on January 4, 2021 to $116.00/kg on July 30, 2021 and 118% from $53.3/kg on July 27, 2020 to date. The Company’s sales price for its RE Carbonate is currently based on the prices of REE oxides, with the price of NdPr being the primary driver of the Company’s RE Carbonate sales price at this time.

Operations Update and Outlook for Period Ending June 30, 2021

Overview

Although the outlook for uranium continues to improve, uranium prices have not risen enough to date to justify uranium production at the Company’s mines and ISR facilities at this time. As a result, uranium recovery is expected to be maintained at reduced levels at current uranium price levels, until such time when market conditions improve sufficiently or the U.S. government buys uranium from the Company following the establishment of the proposed U.S. Uranium Reserve.

The Company will continue to seek new sources of revenue, including through its emerging REE business, as well as new sources of alternate feed materials and new fee processing opportunities at the Mill that can be processed under existing market conditions (i.e., without reliance on current uranium sales prices). The Company is also seeking new sources of natural monazite sands for its emerging rare earth business, and continues its support of U.S. governmental activities to assist the U.S. uranium mining industry, including the proposed establishment of a U.S. Uranium Reserve.

Extraction and Recovery Activities Overview

During the six months ended June 30, 2021, the Company did not recover significant quantities of U3O8, and expects to package insignificant quantities of U3Ofor the remainder of 2021, focusing instead on ramping up and optimizing its RE Carbonate production. This is a reduction from previous guidance of 30,000 to 60,000 pounds of uranium production in 2021. All uranium recovered during 2021 at the Mill is expected to be retained in-circuit at the Mill and not to be packaged in 2021. The Company does not plan to extract and/or recover any amounts of uranium of any significance from its Nichols Ranch Project in 2021, which was placed on standby in the second quarter of 2020 due to the depletion of its existing wellfields. In addition, the Company expects to keep the Alta Mesa Project and its conventional mining properties on standby during 2021.

The Company expects to recover approximately 700 to 1,100 tonnes of RE Carbonate at the Mill in 2021, containing approximately 350 to 550 tonnes of total rare earth oxides (“TREO“), subject to receipt of sufficient quantities of monazite. This is a reduction from previous guidance of 2,000 to 3,000 tons (1,814 to 2,721 tonnes) of RE Carbonate, containing approximately 1,000 to 1,600 tons (907 to 1,451 tonnes) of TREO, in 2021, due to what the Company expects to be a short-term delay in supply of monazite sands to the Mill under the Company’s existing supply agreement. The Company expects to produce no vanadium during the 2021 year.

The Company has strategically opted not to enter into any uranium sales commitments for 2021. Therefore, subject to the proposed establishment of a U.S. Uranium Reserve and general market conditions, existing inventories are expected to remain unchanged at approximately 691,000 pounds of U3O8 at year-end. All V2O5 inventory is expected to be sold on the spot market if prices rise sufficiently above current levels, but otherwise maintained in inventory. The Company expects to sell all or a portion of its RE Carbonate to Neo Performance materials or other global separation facilities and/or to stockpile it for future separation at the Mill or elsewhere.

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 is ramping up to commercial-scale production of RE 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 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 RE 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.

Cautionary Note Regarding Forward-Looking Statements: This news release contains certain “Forward Looking Information” and “Forward Looking Statements” within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: production and sales forecasts; costs of production; any expectation that the Company will continue to be ready to supply uranium into the proposed U.S. Uranium Reserve once it is established; scalability, and the Company’s ability and readiness to re-start, expand or deploy any of its existing projects or capacity to respond to any improvements in uranium market conditions or in response to the proposed Uranium Reserve; any expectation regarding any remaining dissolved vanadium in the White Mesa Mill’s tailings facility solutions; any expectation that the Company’s recently developed mining techniques can increase production and lower costs when vanadium mining resumes in the future; the ability of the Company to secure any new sources of alternate feed materials or other processing opportunities at the White Mesa Mill; expected timelines for the permitting and development of projects; the Company’s expectations as to longer term fundamentals in the market and price projections; any expectation that the Company will maintain its position as a leading uranium company in the United States; any expectation that the proposed Uranium Reserve will be implemented and if implemented the manner in which it will be implemented and the timing of implementation; any expectation with respect to timelines to production; any expectation that the Mill will be successful in producing RE Carbonate on a commercial basis; any expectation that Neo will be successful in separating the Mill’s RE Carbonate on a commercial basis; any expectation that Energy Fuels will be successful in developing U.S. separation, or other value-added U.S. REE production capabilities at the Mill, or otherwise; any expectation that the Company and Neo will be successful in jointly developing a fully integrated U.S.-European REE supply chain; any expectation that the Company will be successful in building a low-cost, fully integrated U.S. rare earth supply chain that meets the highest global standards for environmental protection, sustainability and human rights; any expectation with respect to the future demand for REEs; any expectation with respect to the quantities of monazite ore to be acquired by Energy Fuels, the quantities of RE Carbonate to be produced by the Mill or the quantities of contained TREO in the Mill’s RE Carbonate; any expectation that the Company’s evaluation of thorium and potentially radium recovery at the Mill will be successful; any expectation that the potential recovery of medical isotopes from any thorium and radium recovered at the Mill will be feasible; any expectation that any thorium, radium and other isotopes can be recovered at the Mill and sold on a commercial basis; and any expectation that the Company’s agreement to sell certain of its non-core properties to CUR will complete as contemplated or at all, or as to the proforma value of this divestment to the Company. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans,” “expects,” “does not expect,” “is expected,” “is likely,” “budgets,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” “does not anticipate,” or “believes,” or variations of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “occur,” “be achieved” or “have the potential to.” All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of sources of alternate feed materials and other feed sources for the Mill; competition from other producers; public opinion; government and political actions; the appropriations for the proposed Uranium Reserve not being allocated to that program and the Uranium Reserve not being implemented; the manner in which the proposed Uranium Reserve, if established, will be implemented; the Company not being successful in selling any uranium into the proposed Uranium Reserve at acceptable quantities or prices, or at all; available supplies of monazite sands; the ability of the Mill to produce RE Carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of Neo to separate the RE Carbonate produced by the Mill to meet commercial specifications on a commercial scale at acceptable costs; market factors, including future demand for REEs; the ability of the Mill to be able to separate thorium and potentially radium at reasonable costs or at all; the ability of the Company and RadTran to be able to recover other isotopes from thorium and radium recovered at the Mill at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption “Risk Factors” in the Company’s most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company’s website at www.energyfuels.com. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.

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

Release – Comtech Telecommunications Corp. Awarded Contract Valued up to $48.5 Million for Statewide Next Generation 911 Technologies and Services


Comtech Telecommunications Corp. Awarded Contract Valued up to $48.5 Million for Statewide Next Generation 911 Technologies and Services

 

MELVILLE, N.Y.–(BUSINESS WIRE)–Aug. 2, 2021– 
August 2, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a global leading provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today, that during its fourth quarter of fiscal 2021, it was awarded a statewide contract to provide Next Generation 911 (“NG911”) services for the 
State of Iowa. This multi-year contract includes contract extension options and is valued up to 
$48.5 million. Initial funding for the contract is 
$23.0 million.

The award is for continued operation of Comtech’s NG911 services that provide Iowa’s citizens with advanced communication capabilities when calling for emergency services, including police, fire and emergency medical services. Through use of Comtech’s Next Generation Core Services (“NGCS”), the 
State of Iowa offers a seamless, coordinated and efficient NG911 system to all of Iowa’s local 911 centers.

“We are honored in this vote of confidence in 
Comtech. With this award, 
Iowa has recognized not only our market-leading solutions, but the high performance and reliability standards we bring to support Iowans with mission-critical emergency services,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp.

Comtech’s highly reliable technologies enable the successful handling of over five million 911 calls and texts each month. For more information about Comtech’s 911 products and services, visit www.comtech911.com.

Comtech Telecommunications Corp. is a leading provider of next-generation 911 emergency systems and critical wireless communication technologies to commercial and government customers around the world. Headquartered in 
Melville, New York and with a passion for customer success, 
Comtech designs, produces and markets advanced and secure wireless solutions to customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Comtech Investor Relations:
631-962-7005
investors@comtech.com

Source: 
Comtech Telecommunications Corp.

Release – Entravision Announces Launch of Real Country Format in Sacramento Market


Entravision Announces Launch of Real Country Format in Sacramento Market

 

Company Release – 8/2/2021 9:00 AM ET

SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision Communications Corporation (NYSE: EVC), a leading global media and marketing technology company, today announced a format change to its radio station in Sacramento, California. Effective today, Entravision will launch 103.5 FM Real Country featuring 80’s, 90’s and today’s top Country music.

Real Country 103.5 FM primarily targets individuals aged 25-54 based in the greater Sacramento-Roseville area and features top iconic country artists ranging from Tim McGraw and Garth Brooks to music legends like Alabama, Reba McEntire and George Strait. The new format offers a 24-hour talent-filled lineup, beginning with Cactus Dave every morning from 5AM-9AM PT, followed by Shotgun Taylor from 9AM-3PM PT. The afternoon and evening drive will be led by Al Farb from 3PM-9PM PT, followed by Matt Hubbell hosting the overnight listeners from 9PM-5AM PT.

Over the coming months, Real Country 103.5 FM will host a number of specials including: Double Play Weekend airing August 13th to 15th, with double plays of listeners’ favorite artists from the last 50 years; Salute to the Country Music Hall of Fame from September 10th to 12th, celebrating the Country Music Hall of Fame 2020 inductees; Country Music Month all October long with a daily tribute to a legendary artist; and Christmas Programming beginning November 25th through Christmas Day.

“We are very excited to introduce Real Country 103.5 FM to Sacramento, a market that has always had a strong appetite for country music,” said Nestor Rocha, Entravision’s Vice President of Audio Programming. “It is always our goal to respond to a market’s music preferences by offering formats that have the highest appeal, and we believe Real Country 103.5 FM should ideally meet listener demands.”

“Real Country 103.5 is a classic country format that will provide our advertisers with new opportunities to market to radio listeners,” said Angelica Balderas, SVP of Integrated Marketing Solutions for Entravision Sacramento, Stockton and Modesto, California. “We believe Real Country 103.5 FM will make a strong connection to Sacramento’s country music lovers, an audience which is digitally inclined and has strong purchasing power.”

About Entravision Communications Corporation

Entravision is a diversified global media, marketing and technology company serving clients throughout the United States and in 32 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, and MediaDonuts, a leader in programmatic digital solutions in Southeast Asia. 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.

Contact for Entravision:
Kimberly Esterkin
Addo Investor Relations
evc@addo.com
310-829-5400

Contact for Sales:
Angelica “Angie” Balderas
SVP Integrated Marketing Solutions
abaldera@entravision.com

Source: Entravision Communications Corporation

Release – Voyager Digital Acquires Leading Global Cryptocurrency Payment Processing Company Coinify

 


Voyager Digital Acquires Leading Global Cryptocurrency Payment Processing Company, Coinify

 

 

The acquisition accelerates Voyagers international expansion and will diversify the companys products and revenue streams.

NEW YORKAug. 2, 2021 /CNW/ – Voyager Digital Ltd. (Voyager” or the Company”) (CSE: VYGR) (OTCQX: VYGVF) (FRA: UCD2), the fastest-growing, publicly-traded cryptocurrency platform in the United States, today announced the acquisition of Coinify ApS, a leading cryptocurrency payment platform with a global user base in over 150 countries. The acquisition accelerates Voyagers international expansion and Voyagers capabilities into the payment space so that customers will soon be able to make payments directly from their digital asset accounts. The Coinify acquisition also fast-tracks Voyager into the business-to-business payment space.

As the adoption of cryptocurrency payments gains momentum, the acquisition of Coinify brings a global payment infrastructure to Voyagers digital asset ecosystem and will give our rapidly growing customer base of over 1.75 million users a fast, easy, and secure way to make payments from their Voyager accounts,” said Stephen Ehrlich, CEO and Co-Founder of Voyager. Coinifys core values of innovation, security, and scalability are perfectly aligned with Voyagers mission of making digital assets accessible throughout the world.”

The Coinify acquisition provides Voyager with an established and effective gateway to the crypto payment industry through its virtual currency payment platform available in EuropeAsiaNorth America, and South America. Coinifys global enterprise services include individual payment processing in 15 major cryptocurrencies and transaction settlement in 20 fiat currencies via their easy-to-integrate Coinify API.

We are excited to join the outstanding, innovative team at Voyager, and become part of Voyagers market-leading offerings, brand, and community, and to rapidly grow merchants utilizing Coinifys payment processing technology,” stated Mark Hojgaard, CEO and Co-founder of Coinify. The combination positions Voyager as the go-to choice for businesses and individuals seeking an efficient transaction vehicle for a wide range of purchases globally.” 

Payments are the next step in the growth of Voyager, whose user base grew over 1400% in the first six months of 2021. The company plans to provide payment options to its customers, many of whom are small to midsize business owners. Crypto payment usage has grown substantially over the last 12 months and Voyager will be able to capitalize on that growth with a broadening line of products and services.

Lewis Bateman, Voyagers Chief International Officer said, The acquisition of Coinify will greatly accelerate our expansion into Europe and help us meet the growing demand for our current product offering internationally.”

Under the terms of the share purchase agreement, the consideration to Coinify shareholders will consist of 5,100,000 of newly issued shares of Voyager Digital Ltd. common stock and US$15 million in cash. As part of the agreement, the Company will retain US$5.5 million of cash on the Coinify balance sheet. Voyager will retain substantially all current Coinify employees, entering into employment agreements with key members of the management team. The transaction is expected to be immediately accretive to both revenue and cash flow.

Of the 5,100,000 shares, 1,500,000 shares are subject to a lock-up agreement which provides that they may only be sold 30 days after the Closing Date, pursuant to trades that do not in the aggregate exceed 5% of the average daily trading volume,  3,281,250 shares are subject to a lock-up period ending on the earlier of (i) 12 months from the closing date and (ii) the date the Company is listed on NASDAQ and 318,750 of the shares will be issued 12 months from the closing date.

In connection with this transaction, Fort Capital Partners acted as Financial Advisor to Voyager and Stifel KBW acted as Financial Advisor to Coinify. Legal advisors to Voyager were Fasken, Baker McKenzie, and Accura.  Bruun and Hjejle acted as legal advisor to Coinify.

About Voyager Digital Ltd.
Voyager Digital Ltd. is a publicly traded holding company whose subsidiaries operate a crypto-asset platform that provides retail and institutional investors with a seamless solution to invest in and trade crypto assets. The Voyager platform provides customers with competitive price execution through its smart order router and a custody solution on a wide choice of popular digital assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed up to bring a better, more transparent, and cost-efficient alternative for trading cryptocurrencies to the marketplace. Please visit us at https://www.investvoyager.com for more information.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this press release.

Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking statements” that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “seek”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Press Contacts
Michael Legg
Chief Communications Officer, Voyager Digital
(212) 547-8807
mlegg@investvoyager.com

Voyager Public Relations Team 
pr@investvoyager.com

SOURCE Voyager Digital Ltd.

Comtech Telecommunications Corp. Awarded Contract Valued up to $48.5 Million for Statewide Next Generation 911 Technologies and Services


Comtech Telecommunications Corp. Awarded Contract Valued up to $48.5 Million for Statewide Next Generation 911 Technologies and Services

 

MELVILLE, N.Y.–(BUSINESS WIRE)–Aug. 2, 2021– 
August 2, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a global leading provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today, that during its fourth quarter of fiscal 2021, it was awarded a statewide contract to provide Next Generation 911 (“NG911”) services for the 
State of Iowa. This multi-year contract includes contract extension options and is valued up to 
$48.5 million. Initial funding for the contract is 
$23.0 million.

The award is for continued operation of Comtech’s NG911 services that provide Iowa’s citizens with advanced communication capabilities when calling for emergency services, including police, fire and emergency medical services. Through use of Comtech’s Next Generation Core Services (“NGCS”), the 
State of Iowa offers a seamless, coordinated and efficient NG911 system to all of Iowa’s local 911 centers.

“We are honored in this vote of confidence in 
Comtech. With this award, 
Iowa has recognized not only our market-leading solutions, but the high performance and reliability standards we bring to support Iowans with mission-critical emergency services,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp.

Comtech’s highly reliable technologies enable the successful handling of over five million 911 calls and texts each month. For more information about Comtech’s 911 products and services, visit www.comtech911.com.

Comtech Telecommunications Corp. is a leading provider of next-generation 911 emergency systems and critical wireless communication technologies to commercial and government customers around the world. Headquartered in 
Melville, New York and with a passion for customer success, 
Comtech designs, produces and markets advanced and secure wireless solutions to customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

Comtech Investor Relations:
631-962-7005
investors@comtech.com

Source: 
Comtech Telecommunications Corp.