Month: November 2021

Release – The Voyager Token (VGX) Listed on Coinbase Pro

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The Voyager Token (VGX) Listed on Coinbase Pro

 

NEW YORK, Nov. 18, 2021 /CNW/ – Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2), one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, today announced the Voyager token (VGX) is now listed on Coinbase Pro.

“Listing the Voyager token on Coinbase Pro provides greater access to the token and introduces VGX to a larger audience globally,” said Steve Ehrlich, CEO and Co-founder of Voyager. “We believe Coinbase’s recognition of Voyager’s native token, which is the foundation of our VLP rewards program, is a testament to the strength of the Voyager platform and our growth prospects. We’re thrilled to be on Coinbase Pro and gain exposure to Coinbase Global, Inc.’s $255 billion of AOP.”

The VGX token includes decentralized finance features such as community governance, as well as advanced utility features on the VGX platform that include staking with a current 7% reward.

The trading of VGX on Coinbase Pro will begin on or after 9 a.m. Pacific Time (PT) today if liquidity conditions are met. VGX is not yet available on Coinbase.com or via Coinbase’s Consumer mobile apps. Voyager will make a separate announcement if and when this support is added.

About Voyager Digital Ltd.
Voyager Digital Ltd. (TSX: VOYG; OTCQX: VYGVF; FRA: UCD2) is a fast-growing, publicly traded cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 65 different crypto assets using its easy-to-use mobile application, and earn rewards up to 12 percent annually on more than 30 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.

The TSX has not approved or disapproved of the information contained herein.

Press Contacts

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

Voyager Public Relations Team
pr@investvoyager.com

SOURCE Voyager Digital (Canada) Ltd.

Holiday Shoppers Troubles are Positive for Investors in Shipping Companies

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	Image Credit: Seanergy (Facebook)

Shoppers, Shippers, and Shareholders

 

Maritime shipping and the problems with supply lines, post-Covid, may be frustrating holiday shoppers, but investors have been treated well. This may not be the first Thanksgiving where many families will mention bottlenecks and containers, but it is likely the first where they are talking about supply chain problems. While shipping stocks are off their September highs, there is reason to believe the recent dip may provide an entry for those who felt they missed the boat.

Shippers

The maritime shipping side of the supply chain issues involves all three of the main types of shipping, dry bulk which is primarily raw materials, Container ships which are largely finished goods, and tankers for liquids and fuels. While most consumers have experienced some difficulty purchasing goods or having to pay higher prices, these bottlenecks have been good for some shipping stocks.  In late Summer, early Fall, the share prices of bulk carriers, container lines or lessors, and liquified natural gas (LNG) carriers moved up significantly hitting new highs.

They did not all move up equally, for instance, tanker stocks relative to the performance of the S&P 500 were just treading water. Whereas container ship lines and lessors, and dry bulk carriers saw triple-digit gains. While some are up 200% or more, they have since erased 100% or more. The conditions that caused the initial runup are still in place, with the holiday shopping season, they may even intensify.

Below we’ll look at two shipping companies that have dipped from their massive run-up. One derives a larger part of its revenue from container shipping, and the other is a dry bulk shipper.

 

Shareholders

At its peak Euroseas Ltd., (ESEA) was up 591% this year. It has since given up 194.48% of that gain and is only up 397.05% year-to-date. Euroseas provides shipping services worldwide. They own and operate container ships that transport dry and refrigerated cargo in containers. This includes manufactured products and perishables. They also operate dry bulk carriers that transport iron ore, coal, grains, bauxite, phosphate, and fertilizers.

The recent fall-off in price has this high-performing company trading well below its simple 200-day moving average.

 

Chart: Koyfin

 

After rising as high as 354% this year, Grindrod ShippingHoldings Ltd. has given up 118% points of that increase and is now up 236% on the year. In a 3rd quarter report on the company’s earnings, released today (November 18), Poe
Fratt, Senior Research Analyst from Noble Capital Markets maintained a Buy rating on Grindrod Shipping Holdings (GRIN), with a price target of $31.00. The company’s shares closed yesterday at $13.55.

The company charters and operates a fleet of dry bulk carriers and tankers. It operates in two business units, dry bulk, and tankers. These business units are further subdivided into different size cargoes and ranges.

 

Chart: Koyfin

 

Shoppers

As reported earlier this week, retail sales have surged. October’s sales rocketed 16.3% year-on-year (YOY) as retail sales were up 1.7% for the month, beating economist expectations of 1.4%. The YOY October retail sales are a gigantic 21.4% above their pre-pandemic level.

So it can be said the trend is for the consumer to be keeping the pressure on the shipping industry to fill the pent-up and new demand. Helping to drive the purchases in the face of rising costs is an increase in household wealth thanks to strong stock and housing markets. Adding to consumers’ willingness to open their wallets is a massive increase in savings levels and wage gains.

 

Take-Away

While shipping may not seem as exciting as following metaverse stocks or green energy initiatives, the post-pandemic fundamentals make the seascape interesting and perhaps worth a look.

Research by Poe Fratt who Tip Ranks  lists as performing in the top 2% of the over 7,000 analysts they rank, covers a number of companies in this category. See Poe’s credentials and covered companies here.

Paul Hoffman

Managing Editor, Channelchek

 

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Does Insider Selling Indicate Bearishness on the Company?

Lithium Recycling is an EV Opportunity Not Yet on Many Investors’ Radar

 

Sources:

https://www.census.gov/retail/marts/www/marts_current.pdf

https://www.reuters.com/business/us-retail-sales-beat-expectations-october-2021-11-16/

 

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Release – Chakana Intersects 10m in Breccia Pipe 5 from Surface at Soledad Peru

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Chakana Intersects 10m with 15.48 g/t Gold, 1.27% Copper and 82.4 g/t Silver (18.50 G/t Au-eq or 12.09% Cu-eq) within 237m of 1.74 g/t Gold, 0.59% Copper and 25.2 g/t Silver in Breccia Pipe 5 from Surface at Soledad, Peru

 

Soledad
Project Highlights Include:

  • Reporting 12 remaining resource definition
    holes totalling 2,541m at Breccia Pipe 5 (Bx 5), all with significant intercepts.
  • Additional resource definition drill
    results pending for Huancarama.
  • Off-set IP surveys continue over all high
    priority targets defined to date.

 

Vancouver, B.C., November 18, 2021 – Chakana Copper Corp. (TSX-V: PERU;
OTCQB: CHKKF; FRA: 1ZX) (the “Company” or
“Chakana”), is pleased to provide results from the remaining twelve resource definition holes drilled in Bx 5 totaling 2,541m at the Soledad project, Ancash, Peru (see table below). This resource drilling is part of the fully funded 26,000m exploration and resource drilling program planned for 2021 (Fig. 1).  These results will further increase confidence in the initial resource estimate, anticipated to be completed by the end of 2021.

“The
final resource definition drill results released today for Bx 5 are an
outstanding culmination of the drilling on this breccia pipe. In addition to
the very strong mineralization that starts at surface, we now have
mineralization confirmed to a depth of 485m at Bx 5 where the breccia pipe and
mineralization are open at depth. Bx 5 is known to have very consistent and
continuous mineralization with zones of very high grades surrounded by long
runs of strong copper, gold, and silver grades. The breccia pipe plunges
slightly to the east from surface to 200m depth, then plunges gently north in
the direction of Bx 6. The area between Bx 5 and Bx 6 is highly prospective for
the discovery of additional breccia-hosted mineralization. With this release,
all resource definition drill results for Bx 5 have been published. We have
pending resource definition drill results for Huancarama to publish leading up
to the first ever National Instrument 43-101 compliant resource estimate for
the Soledad project,” stated President and CEO David Kelley.

Drill Results

Bx 5 (Resource Definition)


DDH #

From      –     To (m)

Core Length (m)

Au

g/t

Ag

g/t

Cu

%

Cu-eq
%*

Au-eq g/t*

SDH21-244

0.00

155.00

155.00

1.41

26.2

0.30

1.45

2.21

SDH21-252

0.00

97.00

97.00

0.77

24.9

0.18

0.90

1.37

SDH21-253

0.00

106.00

106.00

1.24

31.5

0.32

1.40

2.14

SDH21-255

0.00

123.00

123.00

1.23

29.3

0.36

1.41

2.16

and

132.00

141.00

9.00

1.28

24.6

0.36

1.41

2.15

and

158.00

194.00

36.00

0.63

14.6

0.56

1.10

1.68

SDH21-256

0.00

237.00

237.00#

1.74

25.2

0.59

1.94

2.97

including

0.00

105.00

105.00

1.15

26.0

0.27

1.24

1.90

including

105.00

115.00

10.00

15.48

82.4

1.27

12.09

18.50

including

115.00

237.00

122.00

1.12

19.8

0.81

1.71

2.62

SDH21-258

0.00

92.00

92.00

1.32

40.0

0.37

1.57

2.41

SDH21-260

0.00

147.00

147.00

1.36

24.8

0.30

1.40

2.14

SDH21-261

0.00

92.00

92.00

1.42

43.1

0.34

1.64

2.50

SDH21-262

0.00

160.00

160.00

1.80

24.5

0.32

1.71

2.61

SDH21-264

0.00

121.80

121.80

1.34

33.3

0.30

1.46

2.23

SDH21-270

339.80

343.00

3.20

7.82

60.2

0.97

6.60

10.09

and

390.20

414.00

23.80

0.16

6.3

0.71

0.87

1.33

SDH21-272

313.00

417.00

104.00

0.48

10.1

1.38

1.78

2.72

and

432.00

438.00

6.00

0.21

2.2

1.06

1.22

1.86

and

447.00

485.65

38.65

0.26

8.1

1.12

1.36

2.08

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307). # SDH21-256 is mineralized from surface to 237m; for greater clarity the analytical results are also reported in three separate intervals so as to identify a high-grade interval from 105 to 115m.

Bx 5

The Bx 5 breccia pipe is in the north-central part of the project and is one of six breccia pipes that will be included in our initial resource estimate (Fig. 1). The breccia pipe forms a prominent monument outcrop and extends to depths greater than 485m where mineralization remains open. Drill holes described in this release were designed to confirm shallow mineralization in the top southeastern quadrant of the breccia pipe, as well as deeper extents of mineralization probed by two holes drilled to the north from a platform located 100m south of the breccia pipe (Figs. 2 and 3). All holes intersected significant mineralization (see Figure 4 for select core photos of the mineralization).

 

2021 Resource and
Exploration Drill Program

A total of 23,947m of drilling has been completed in 2021. The objectives of this drill program are to complete resource definition drilling on six initial breccia pipes to an approximate depth of 300m and test several new exploration targets. Breccia pipes that will be included in the initial resource estimate are: Bx1, Bx 5, Bx6, Paloma East, Paloma West, and Huancarama (Fig. 1). Additional resource definition drill results for Huancarama are pending. During 2021 our drilling was focused on the north half of the project where drill permits are in place. Permitting for the south half of the project is well advanced. The southern half of the property hosts several outcropping mineralized tourmaline breccia pipes and has been recently covered by the Company’s ongoing geophysical program. Numerous targets exist, none of which have been drilled previously.

 

Geophysical Surveys

Gradient-array induced-polarization (IP) surveys have been completed over the entire 12km2 footprint of the Soledad mineral system. Off-set IP surveys are now in-progress covering high priority target areas. This work complements the extensive exploration database that supports our current inventory of 110 exploration targets. This new information identifies both new targets and prioritizes existing targets that will be tested when the exploration drilling programs resume. 

 

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project is notable for the high-grade copper-gold-silver mineralization that is hosted in tourmaline breccia pipes. A total of 60,854 metres in 261 diamond core holes for exploration and resource definition drilling have been completed since 2017, testing 16 of 110 total exploration targets, confirming that Soledad is a large, well-endowed mineral system with strong exploration upside. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to base and precious metals. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

 

Sampling and Analytical Procedures

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

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

Qualified
Person

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

 

ON BEHALF OF THE BOARD

(signed) “David Kelley”
David Kelley
President and CEO

 

For further information contact:

Joanne Jobin, Investor Relations Officer

Phone:   647 964 0292
Email:    jjobin@chakanacopper.com

 

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

 

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

 

Figure 1 – View looking north showing outcropping breccia pipes and occurrences within the northern Soledad cluster. Pipes that will be included in the initial resource are shown in green (Bx 1, Bx 5, Bx 6, Paloma East, Paloma West, and Huancarama). Breccia pipes shown in yellow have had exploration drilling completed. Other pipes/occurrences and targets defined by other exploration data remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.  

 

Figure 2 – Map showing drill holes reported in this release and modeled breccia pipe (light red shape) based on all drill holes. Light gray contours are at 10m intervals. Blue rectangle in the inset map shows the area of Figure 2 within the overall Chakana property.

 

Figure 3 – 3D sectional view of Bx 5 looking west. Light red 3D shape shows breccia pipe geometry based on all drill holes. Previous holes drilled shown in grey traces.

 

Figure 4 – Select core photos from Bx 5 reported in this release: SDH21-244 (34.7m) shingle breccia cemented with chalcopyrite-pyrite; SDH21-252 (33.9m) chaotic shingle breccia with chalcopyrite-pyrite in matrix; SDH21-253 (41.5m) chaotic shingle breccia with chalcopyrite-pyrite in matrix; SDH21-255 (39.6m) shingle breccia cemented with chalcopyrite-pyrite; SDH21-256 (110.55m) chaotic shingle breccia with semi-massive chalcopyrite-pyrite; SDH21-258 (35.45m) shingle breccia cemented with chalcopyrite-pyrite; SDH21-261 (39.25m) chaotic shingle breccia with semi-massive chalcopyrite-pyrite. Core diameter is 6.35cm (HQ) in all instances.

What Percentage of U.S. Retail Sales is Ecommerce?

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Ecommerce’s Dramatic Growth in 2020 Leaves Great Potential for Online Retailers

 

Online sales growth has increased each year as retailers enhance their online presence and shoppers become more comfortable making purchases over the internet. A little over a decade ago, ecommerce was a scant 5.1% of total sales. Online shopping in 2020 accounted for 21%. This was a full 5% increase from 2019 when online retailers took a 16% slice of the pie. The 2021 holiday shopping season started early and retail sales on and offline are strong.

 

Non-Seasonably adjusted ecommerce data from the Commerce Department analyzed by Digital Commerce 360

 

Growth of Retail Sales and the Percentage Attributed to Ecommerce

The dramatic shift to consumers shopping from home last year certainly caused a spike in online sales and revenues. During 2020 U.S. households spent $861.02 billion online; this is a 44% spike when compared to 2019 and the highest percentage increase this millennium. Total retail sales, including merchandise purchased in stores and phone orders, increased 6.9% over the year to $4.04 trillion. These numbers come from an early analysis of the retail picture by Digital Commerce 360. Retail sales overall experienced the highest growth since 2005. This means online retail purchases now account for 21.3% of a higher dollar retail sales figure.

Of the increase in sales, more than two-thirds, 64.2%, were online. They accounted for 61.4% of the slower growth in 2019. Interestingly, though, the fact that ecommerce didn’t account for all of the gains means that offline sales grew a noteworthy 3.9% during Q4.

Retailers who were firmly established online, depending on their product, were already winners with the ongoing trend toward online sales. They were even bigger winners as a result of the forced shift of many shoppers to online purchasing.  And the move toward online purchases is expected to continue. In an interview earlier this year, Chris McCann, CEO from online retailer 1-800-Flowers (FLWS), said, “Coming off a record end-of-year holiday season, we see a continuation of the accelerated momentum that began for us back in 2018, but picked up even more during the pandemic.” The momentum that built last year may come off a bit, but the trend is firmly in place. This has caused traditional bricks-and-mortar retailers such as Macy’s and Target to bolster their online presence, but also other brands to capitalize on their name through online marketing. Macy’s just announced they are exploring a separate online business, separate and distinct from their bricks-and-mortar operation. Saks Fifth Ave. has already taken steps to split its operations in this way.

 

 

Online Retailing Highlights Year-End 2020

  • Ecommerce sales hit $791.70 billion in 2020, up 32.4% from $598.02 billion in the prior year.
  • Based on Digital Commerce 360 estimates, online penetration hit 19.6% in 2020. This is compared to 15.8% in 2019 and 14.3% in 2018. Using that trend, without the pandemic’s change of shopping habits, the ecommerce portion of retail sales wouldn’t have reached that level until 2022.
  • COVID-19 resulted in an additional $105.47 billion in ecommerce revenue in 2020, Digital Commerce 360 estimates.
  • Total retail sales reached $4.04 trillion last year, up from $3.78 trillion in 2019. The 6.9% lift was the highest annual growth since 1999. Sales through brick and mortar and online increased just 4.0% in 2019.
  • Ecommerce accounted for almost three-quarters (74.6%) of the growth in total retail in 2020. It was also about 11% higher than the second place year, which was 2008.
  • Offline sales grew 2.1%, which was the same rate as the pandemic-free prior year.

Take-Away

Overall retail sales grew in 2020. Within that growth, the percentage of online sales grew faster than it had since 1999. The retail sector includes Amazon, which accounted for half of last year’s growth. Away from Amazon, the trend for companies that derive revenue from online sales has plenty of upsides.

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Sources:

The Business of Valentine’s Day

Quarterly Online Sales, Digital Commerce 360

 

Virtual Road Show Series – Thursday, November 18 at 1pm EST

Join Entravision Communications CFO Christopher Young for this exclusive fireside chat moderated by Michael Kupinski, Noble’s senior research analyst, featuring questions taken from the live audience. Registration is free and open to all investors, at any level.

Register Now  |  View All Upcoming Road Shows

 

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Release – Schwazze Signs Definitive Agreement to Acquire MCG LLC

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Schwazze Signs Definitive Agreement to Acquire MCG, LLC

 

Schwazze Continues its Colorado Expansion Strategy with Emerald Fields Cannaboutique Dispensaries in Manitou Springs & Glendale, CO

 

DENVER, Nov. 16, 2021 /CNW/ – Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”), announced that it has signed definitive documents to acquire MCG, LLC (“Emerald Fields”).  Emerald Fields owns and operates two retail cannabis dispensaries, located in Manitou Springs and Glendale, Colorado.  This acquisition is part of the Company’s continuing retail expansion plan in Colorado bringing the total number of dispensaries including announced acquisitions to 22.

Total consideration for the acquisition will be $29 million and will be paid as 60% cash and 40% Schwazze common stock upon closing.  The acquisition is targeted to close in the next 75 days, subject to closing conditions and covenants customary for this type of transaction, including, without limitation, obtaining Colorado Marijuana Enforcement Division and local licensing approval.

“Our team is delighted to add the Emerald Fields Cannaboutiques to our growing portfolio of dispensaries and are eager to welcome the team to Schwazze. Manitou Springs and Glendale are attractive locations and are valuable assets to our overall acquisitions plans as we continue to build out Colorado.  Our team is excited to add another store brand to our house of brands.”  said Justin Dye, Schwazze’s CEO.

About Schwazze
Schwazze (OTCQX: SHWZ) is building the premier vertically integrated cannabis company in Colorado and plans to take its operating system to other states where it can develop a differentiated leadership position.  Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.  The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition.  Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes.  The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.  Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.  Medicine Man Technologies, Inc. was Schwazze’s former operating trade name.  The corporate entity continues to be named Medicine Man Technologies, Inc.

Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, and (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

SOURCE Schwazze

 

TAAL Distributed Information Technologies (TAALF) – Strong 3Q21; Raising PT

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Wednesday, November 17, 2021

TAAL Distributed Information Technologies (TAALF)
Strong 3Q21; Raising PT

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

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

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

    3Q21 Results. TAAL had previously pre-announced 3Q revenue in the $11.5-$12.0 million (CAD) range. Actual revenue came in at $12.4 million, with income before value adjustments of $8.0 million, adjusted EBITDA of $3.9 million, and net income of $2.1 million, or $0.05 per share. We had projected revenue of $8 million, income before value adjustments of $4.8 million, and a net loss of $725,000, or $0.02 per share.

    Transactions.  TAAL processed over 52 million transactions on BSV in the quarter, earning $411,000 from transaction processing fees in the quarter, or 3% of total revenue. While mining continues to be the near-term revenue driver, we expect transaction fees to be the long-term value driver of the stock …



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

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

Euroseas (ESEA) – Stock Price Weakness Doesn’t Match Slight Miss

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Wednesday, November 17, 2021

Euroseas (ESEA)
Stock Price Weakness Doesn’t Match Slight Miss

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

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

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

    A Slight Miss. Adjusted 3Q2021 EBITDA of $10.6 million included dry dock expenses of $2.7 million. After adding back dry dock expenses, our adjusted 3Q2021 EBITDA of $13.3 million was slightly below expectations of $13.8 million due to higher opex costs.

    Adjusting 2021 EBITDA estimate to incorporate 3Q2021 results.  Fine tuning our 2021 EBITDA estimate to $53.9 million based on TCE rates of $18.6k/day to reflect 3Q2021 operating results and slightly higher opex. As discussed in our most recent note, forward cover is full and the Corfu is repositioning toward China on a short charter prior to dry docking …



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

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

Schwazze Signs Definitive Agreement to Acquire MCG, LLC

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Schwazze Signs Definitive Agreement to Acquire MCG, LLC

 

Schwazze Continues its Colorado Expansion Strategy with Emerald Fields Cannaboutique Dispensaries in Manitou Springs & Glendale, CO

 

DENVER, Nov. 16, 2021 /CNW/ – Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”), announced that it has signed definitive documents to acquire MCG, LLC (“Emerald Fields”).  Emerald Fields owns and operates two retail cannabis dispensaries, located in Manitou Springs and Glendale, Colorado.  This acquisition is part of the Company’s continuing retail expansion plan in Colorado bringing the total number of dispensaries including announced acquisitions to 22.

Total consideration for the acquisition will be $29 million and will be paid as 60% cash and 40% Schwazze common stock upon closing.  The acquisition is targeted to close in the next 75 days, subject to closing conditions and covenants customary for this type of transaction, including, without limitation, obtaining Colorado Marijuana Enforcement Division and local licensing approval.

“Our team is delighted to add the Emerald Fields Cannaboutiques to our growing portfolio of dispensaries and are eager to welcome the team to Schwazze. Manitou Springs and Glendale are attractive locations and are valuable assets to our overall acquisitions plans as we continue to build out Colorado.  Our team is excited to add another store brand to our house of brands.”  said Justin Dye, Schwazze’s CEO.

About Schwazze
Schwazze (OTCQX: SHWZ) is building the premier vertically integrated cannabis company in Colorado and plans to take its operating system to other states where it can develop a differentiated leadership position.  Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.  The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition.  Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes.  The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.  Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.  Medicine Man Technologies, Inc. was Schwazze’s former operating trade name.  The corporate entity continues to be named Medicine Man Technologies, Inc.

Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, and (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

SOURCE Schwazze

 

Great Lakes Dredge & Dock (GLDD) – Windward Ho! FID on Jones Act Offshore Wind Installation

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Wednesday, November 17, 2021

Great Lakes Dredge & Dock (GLDD)
Windward Ho! FID on Jones Act Offshore Wind Installation

Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only’s operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.

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

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

    Final investment decision (FID) reached and shipyard engaged to build first Jones Act qualified incline fallpipe rock installation barge. Yesterday, a contract for $197 million was announced with Philly Shipyard, a publicly traded Norwegian company that is majority owned by Aker Capital. The goal is to construct the first Jones Act complaint vessel to assist in the installation of the wind turbine towers in US offshore areas beginning in 2025. The primary function of the rock dumping barge will be the placement of rock around the wind tower foundations for scour protection. The state of the art vessel will have all of the latest technology and should be well positioned to serve a growing market. Given the likelihood of government support (federal/state/local) for high local content on the construction of offshore wind farms, the outlook for this type of vessel appears promising.

    Payment schedule is favorable.  The shipyard contract has attractive payment terms that spread out the significant capex commitment over the next three years. A deposit of ~$15 million (8%) will paid in 4Q2021 and the remainder will be spread out over the next three years, with ~$35 million (18%) in 2022, ~$80 million (41%) in 2023 and $67 million (33%) in 2024. Owner furnished equipment in the $20 …



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

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

SPACtrac Report – ISOS Acquisition Corp: Bowlero: Hits the Mark

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Wednesday, November 17, 2021

ISOS Acquisition Corp: Bowlero: Hits the Mark

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

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to end of report for Analyst Certification & Disclosures

Strong quarterly results. Bowlero reported strong Q1 2022 results with total bowling center revenue of $176 million, making it the 4th highest grossing quarter in Bowlero’s history. Revenue topped the company’s target revenue of $167 million by 5%, a good start towards its FY 2022 revenue target of $817 million. Impressively, margins improved, with adj. EBITDA margin of 33.4% versus 17% in fiscal Q1 2020 (pre-pandemic). It is noteworthy that the 33.4% EBITDA margin meets the company’s Fiscal Year 2022 EBITDA margin goal of 33%.

Moving beyond the pandemic. Bowlero’s latest quarterly revenue topped Q1 fiscal 2020 (pre-pandemic) revenue by 22%. The revenue growth, coupled with improving margins, lead to adj. EBITDA growth of 140% compared with Q1 2020. In absolute terms, adj. EBITDA was $59 million in Q1 2022 versus $25 million in Q1 2020.

Roll-up continuation. In the quarter, Bowlero completed its acquisition of Bowl America, for roughly $44 million. By doing so, Bowlero added 17 bowling centers in the eastern United States. Additionally, the company added 5 other bowling centers in the quarter. The total outlay required for acquisitions in Q1 was roughly $79 million.

Right down the alley. The company beat its revenue expectations for the quarter across all three primary segments, Bowling & Shoe, Food & Beverage, and Amusement. Notably, the strong performance was in spite of historically soft seasonal lull. Moreover, the additions of nearly two dozen centers in the quarter sets up the company for attractive revenue growth for the balance of the year.

Compelling stock valuation. The implied post-merger EV/2022E EBITDA multiple for Bowlero is near 10.5x, near current levels. By comparison to a broad peer group comprised of industries such as Live Events, Leisure, Amusement, and Experiential, Bowlero shares may offer as much as 40%-60% upside. The average EV/2022E EBITDA multiple for the broad peer group is 14.1x, suggesting a $14 price target for Bowlero shares. On the other hand, when excluding the Amusement industry peer group (due to its lower growth rate compared to Bowlero), the blended multiple is 15.7x EV/2022E EBITDA, implying a $16 price target. Therefore, in taking into account both implied target multiples, a $15 price target appears reasonable.

Investment Summary

Bowlero, which plans to go public through the merger with ISOS Acquisition Corp., announced favorable fiscal first quarter results.  Q1 2022  total bowling center revenue was $176 million, making it the 4th highest grossing quarter in Bowlero’s history. Notably, this is seasonally one of the weakest quarters for the company, indicating that the fiscal year is off to a strong start. Revenue topped the company’s target revenue of $167 million by 5%, solid progress towards its FY 2022 revenue target of $817 million. Impressively, margins improved, with adj. EBITDA margin of 33.4% versus 17% in fiscal Q1 2020 (pre-pandemic). It is noteworthy that the 33.4% EBITDA margin meets the company’s Fiscal Year 2022 EBITDA margin goal of 33%. Figure #1 Fiscal Q1 illustrates the company’s strong performance with the year earlier quarter. 

Highlighting that the Covid pandemic appears largely behind the company, Bowlero’s latest quarterly revenue topped Q1 fiscal 2020 (pre-pandemic) revenue by 22%. The revenue growth, coupled with improving margins, lead to adj. EBITDA growth of 140% compared with Q1 2020. In absolute terms, adj. EBITDA was $59 million in Q1 2022 versus $25 million in Q1 2020.

Importantly, the company appears to be operating on all cylinders, beating revenue expectations across all three primary segments, Bowling & Shoe, Food & Beverage, and Amusement. Notably, the strong performance was in spite of historically soft seasonal lull. Moreover, the additions of nearly two dozen centers in the quarter sets up the company for attractive revenue growth for the balance of the year. In the quarter, Bowlero completed its acquisition of Bowl America, for roughly $44 million. By doing so, Bowlero added 17 bowling centers in the eastern United States. Additionally, the company added 5 other bowling centers in the quarter. The total outlay required for acquisitions in Q1 was roughly $79 million. 

In spite of the strong fundamentals, the ISOS shares have not reacted to the positive results. The implied post-merger EV/2022E EBITDA multiple for Bowlero is near 10.5x. As illustrated in Figure #2 Comparables, the ISOS shares trade at a steep discount to its peer gorup. By comparison to a broad peer group comprised of industries such as Live Events, Leisure, Amusement, and Experiential, Bowlero shares may offer as much as 40%-60% upside. The average EV/2022E EBITDA multiple for the broad peer group is 14.1x, suggesting a $14 price target for Bowlero shares. On the other hand, when excluding the Amusement industry peer group (due to its lower growth rate compared to Bowlero), the blended multiple is 15.7x EV/2022E EBITDA, implying a $16 price target. Therefore, in taking into account both implied target multiples, a $15 price target appears reasonable. 

Figure #1 Fiscal Q1

Figure #2 Comparables


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All statements or opinions contained herein that include the words “we”, “us”, or “our” are solely the responsibility of Noble Capital Markets, Inc.(“Noble”) and do not necessarily reflect statements or opinions expressed by any person or party affiliated with the company mentioned in this report. Any opinions expressed herein are subject to change without notice. All information provided herein is based on public and non-public information believed to be accurate and reliable, but is not necessarily complete and cannot be guaranteed. No judgment is hereby expressed or should be implied as to the suitability of any security described herein for any specific investor or any specific investment portfolio. The decision to undertake any investment regarding the security mentioned herein should be made by each reader of this publication based on its own appraisal of the implications and risks of such decision.

This publication is intended for information purposes only and shall not constitute an offer to buy/sell or the solicitation of an offer to buy/sell any security mentioned in this report, nor shall there be any sale of the security herein in any state or domicile in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or domicile. This publication and all information, comments, statements or opinions contained or expressed herein are applicable only as of the date of this publication and subject to change without prior notice. Past performance is not indicative of future results.

Noble accepts no liability for loss arising from the use of the material in this report, except that this exclusion of liability does not apply to the extent that such liability arises under specific statutes or regulations applicable to Noble. This report is not to be relied upon as a substitute for the exercising of independent judgement. Noble may have published, and may in the future publish, other research reports that are inconsistent with, and reach different conclusions from, the information provided in this report. Noble is under no obligation to bring to the attention of any recipient of this report, any past or future reports. Investors should only consider this report as single factor in making an investment decision.

IMPORTANT DISCLOSURES

This publication is confidential for the information of the addressee only and may not be reproduced in whole or in part, copies circulated, or discussed to another party, without the written consent of Noble Capital Markets, Inc. (“Noble”). Noble seeks to update its research as appropriate, but may be unable to do so based upon various regulatory constraints. Research reports are not published at regular intervals; publication times and dates are based upon the analyst’s judgement. Noble professionals including traders, salespeople and investment bankers may provide written or oral market commentary, or discuss trading strategies to Noble clients and the Noble proprietary trading desk that reflect opinions that are contrary to the opinions expressed in this research report.

The majority of companies that Noble follows are emerging growth companies. Securities in these companies involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in Noble research reports may not be suitable for some investors and as such, investors must take extra care and make their own determination of the appropriateness of an investment based upon risk tolerance, investment objectives and financial status.

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The following disclosures relate to relationships between Noble and the company (the “Company”) covered by the Noble Research Division and referred to in this research report.

Company Specific Disclosures

The following disclosures relate to relationships between Noble and the company (the “Company”) covered by the Noble Research Division and referred to in this research report.

The SPAC Company in this report is a participant in the Company Sponsored Research Program (CSRP); Noble receives compensation from the Company for such participation. No part of the CSRP compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed by the analyst in this research report.

Noble is not a market maker in any of the companies mentioned in this report. Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) with any or all of the companies mentioned in this report within the next 3 months

ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE

Director of Research. Senior Equity Analyst specializing in Media & Entertainment. 34 years of experience as an analyst. Member of the National Cable Television Society Foundation and the National Association of Broadcasters. BS in Management Science, Computer Science Certificate and MBA specializing in Finance from St. Louis University.
Named WSJ ‘Best on the Street’ Analyst six times.
FINRA licenses 7, 24, 66, 86, 87

WARNING

This report is intended to provide general securities advice, and does not purport to make any recommendation that any securities transaction is appropriate for any recipient particular investment objectives, financial situation or particular needs. Prior to making any investment decision, recipients should assess, or seek advice from their advisors, on whether any relevant part of this report is appropriate to their individual circumstances. If a recipient was referred to Noble Capital Markets, Inc. by an investment advisor, that advisor may receive a benefit in respect of transactions effected on the recipients behalf, details of which will be available on request in regard to a transaction that involves a personalized securities recommendation. Additional risks associated with the security mentioned in this report that might impede achievement of the target can be found in its initial report issued by Noble Capital Markets, Inc.. This report may not be reproduced, distributed or published for any purpose unless authorized by Noble Capital Markets, Inc.

RESEARCH ANALYST CERTIFICATION

Independence Of View
All views expressed in this report accurately reflect my personal views about the subject securities or issuers.

Receipt of Compensation
No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public
appearance and/or research report.

Ownership and Material Conflicts of Interest
Neither I nor anybody in my household has a financial interest in the securities of the subject company or any other company mentioned in this report.

NOBLE RATINGS DEFINITIONS % OF SECURITIES COVERED % IB CLIENTS
Outperform: potential return is >15% above the current price 94% 33%
Market Perform: potential return is -15% to 15% of the current price 6% 2%
Underperform: potential return is >15% below the current price 0% 0%

NOTE: On August 20, 2018, Noble Capital Markets, Inc. changed the terminology of its ratings (as shown above) from “Buy” to “Outperform”, from “Hold” to “Market Perform” and from “Sell” to “Underperform.” The percentage relationships, as compared to current price (definitions), have remained the same.

Additional information is available upon request. Any recipient of this report that wishes further information regarding the subject company or the disclosure information mentioned herein, should contact Noble Capital Markets, Inc. by mail or phone.

Noble Capital Markets, Inc.
150 East Palmetto Park Rd., Suite 110
Boca Raton, FL 33432
561-994-1191

Noble Capital Markets, Inc. is a FINRA (Financial Industry Regulatory Authority) registered broker/dealer.
Noble Capital Markets, Inc. is an MSRB (Municipal Securities Rulemaking Board) registered broker/dealer.
Member – SIPC (Securities Investor Protection Corporation)

Report ID: 24264

Release – Comtech Telecommunications Corp. Awarded $1.8 Million Contract for High-Power Solid-State Amplifiers

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Comtech Telecommunications Corp. Awarded $1.8 Million Contract for High-Power Solid-State Amplifiers

 

MELVILLE, N.Y.–(BUSINESS WIRE)–Nov. 17, 2021– 
November 17, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today, that during its first quarter of fiscal 2022, it was awarded an additional contract valued at 
$1.8 million for RF microwave solid-state amplifiers from a major domestic prime contractor.

These very high-power solid-state amplifiers, which utilize the latest in GaN transistor technology, were developed in close cooperation with the prime contractor and are part of a complex RF microwave transmission system used by the 
U.S. military.

“This additional contract award is another example of Comtech’s technical strength in delivering high-power solid-state transmitter solutions for military applications and the ongoing demand for our high-power solid-state amplifier products,” said  Fred Kornberg, Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp.

The contract was awarded to 
Comtech PST Corp. (www.comtechpst.com) which is a leading independent supplier of high-power, high performance RF microwave amplifiers, transmitters and control components for use in a broad spectrum of applications including defense, medical, satellite communications systems and instrumentation.

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications 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. 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 – Azarga Uranium Shareholders Approve Merger with enCore Energy

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Azarga Uranium Shareholders Approve Merger with enCore Energy

 

VANCOUVER, BC, Nov. 17, 2021 /CNW/ – enCore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) (the “Company” or “enCore”) is pleased to announce that the shareholders of Azarga Uranium Corp. (TSX: AZZ) (OTCQB: AZZUF) (FRA: P8AA) (“Azarga Uranium”) have approved the plan of arrangement (the “Plan of Arrangement”) with enCore previously announced on September 7th, 2021. The Plan of Arrangement was approved by 99.8% of the votes cast by holders of common shares of Azarga Uranium. enCore Energy will host an information session, via webinar, on Thursday, November 18, 2021 at 11 AM EST. Please register at: 

https://attendee.gotowebinar.com/register/5708536147519920651.

“enCore is very pleased with the results of the Azarga Uranium shareholder vote and will be working closely with Azarga to complete the next steps to close this transaction,” said William M. Sheriff, Executive Chairman. “Upon closing of this transaction, enCore Energy will have established itself as one of the leading in-situ recovery uranium development companies in the United States. The two licensed Texas production plants, now under revitalization, combined with over 90 million 43-101 compliant pounds of uranium resources across Wyoming, South Dakota and New Mexico1 ideally position enCore to advance clean energy sources in the nuclear renaissance.”

In addition, the Plan of Arrangement was approved by a simple majority of the votes cast by Azarga Uranium shareholders, excluding the votes cast in respect of the Azarga Uranium shares held by certain related parties (as defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions).

The British Columbia Supreme Court hearing for the final order to approve the Plan of Arrangement is expected to occur on November 19, 2021. Closing of the Plan of Arrangement is subject to the receipt of applicable regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature, including, without limitation, the final stock exchange approval. enCore Energy and Azarga Uranium are working together to complete these regulatory approvals in order to close the transaction.

In connection with the Plan of Arrangement, the Azarga Uranium shareholders will receive 0.375 common shares of enCore for each Azarga Uranium common share held (the “Exchange Ratio”). Additionally, the Exchange Ratio will be subject to an adjustment mechanism at the closing of the transaction (the “Closing Exchange Ratio”). The Closing Exchange Ratio shall be equal to the greater of: (i) the Exchange Ratio; or (ii) an exchange ratio calculated as $0.54 divided by enCore’s 15-day volume-weighted average price prior to the closing of the transaction, subject to a maximum Closing Exchange Ratio of 0.49 common shares of enCore for each share of Azarga Uranium outstanding.

None of the securities to be issued pursuant to the transaction have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

For further information, please see Azarga Uranium’s Report of Voting Results, which is filed on SEDAR at www.sedar.com

About Azarga Uranium Corp.

Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects and prospects in the United States of America (“USA”) (South Dakota, Wyoming, Utah and Colorado), with a primary focus of developing in-situ recovery uranium projects. The Dewey Burdock in-situ recovery uranium project in South Dakota, USA (the “Dewey Burdock Project”), which is the Company’s initial development priority, has been issued its Nuclear Regulatory Commission License and Class III and Class V Underground Injection Control permits from the Environmental Protection Agency and the Company is in the process of completing other major regulatory permit approvals necessary for the construction of the Dewey Burdock Project. For more information, please visit www.azargauranium.com.

About enCore Energy Corp.

enCore Energy Corp., a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (“ISR”) uranium producer, is led by a team of industry experts with extensive knowledge and experience in all aspects of ISR uranium operations. enCore Energy’s initial opportunities are created from the Company’s South Texas licensed and past-producing Rosita and Kingsville Dome ISR production facilities, under development, and multiple satellite projects in South Texas plus the changing global uranium supply/demand outlook and opportunities for industry consolidation. Large uranium resource endowments in New Mexico add to the asset base for long term growth and development opportunities.

1. enCore Energy Corp. and Azarga Uranium Corp. News Release dated September 7, 2021.

SOURCE enCore Energy Corp

Great Lakes Dredge Dock (GLDD) – Windward Ho FID on Jones Act Offshore Wind Installation

Posted on by Admin

Wednesday, November 17, 2021

Great Lakes Dredge & Dock (GLDD)
Windward Ho! FID on Jones Act Offshore Wind Installation

Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only’s operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.

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

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

    Final investment decision (FID) reached and shipyard engaged to build first Jones Act qualified incline fallpipe rock installation barge. Yesterday, a contract for $197 million was announced with Philly Shipyard, a publicly traded Norwegian company that is majority owned by Aker Capital. The goal is to construct the first Jones Act complaint vessel to assist in the installation of the wind turbine towers in US offshore areas beginning in 2025. The primary function of the rock dumping barge will be the placement of rock around the wind tower foundations for scour protection. The state of the art vessel will have all of the latest technology and should be well positioned to serve a growing market. Given the likelihood of government support (federal/state/local) for high local content on the construction of offshore wind farms, the outlook for this type of vessel appears promising.

    Payment schedule is favorable.  The shipyard contract has attractive payment terms that spread out the significant capex commitment over the next three years. A deposit of ~$15 million (8%) will paid in 4Q2021 and the remainder will be spread out over the next three years, with ~$35 million (18%) in 2022, ~$80 million (41%) in 2023 and $67 million (33%) in 2024. Owner furnished equipment in the $20 …



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

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