Release – Salem Media Group Inc. Schedules 2022 Annual Meeting of Stockholders



Salem Media Group, Inc. Schedules 2022 Annual Meeting of Stockholders

Research, News, and Market Data on Salem Media

 

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today that it has scheduled its 2022 Annual Meeting of Stockholders to be held on Wednesday, May 4, 2022, at Salem’s principal executive offices, which are located at 6400 N. Belt Line Road, Irving, Texas, 75063, at 11:30 a.m. C.D.T.

Salem also announced the record date applicable for the voting of shares at the Annual Meeting to be March 9, 2022.

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising of radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.comFacebook and Twitter.

Evan D. Masyr
Executive Vice President and Chief Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group, Inc.

Collaborating With Robots



How to Help Humans Understand Robots

 

Adam Zewe | MIT
News Office

Scientists who study human-robot interaction often focus on understanding human intentions from a robot’s perspective, so the robot learns to cooperate with people more effectively. But human-robot interaction is a two-way street, and the human also needs to learn how the robot behaves.

Thanks to decades of cognitive science and educational psychology research, scientists have a pretty good handle on how humans learn new concepts. So, researchers at MIT and Harvard University collaborated to apply well-established theories of human concept learning to challenges in human-robot interaction.

They examined past studies that focused on humans trying to teach robots new behaviors. The researchers identified opportunities where these studies could have incorporated elements from two complementary cognitive science theories into their methodologies. They used examples from these works to show how the theories can help humans form conceptual models of robots more quickly, accurately, and flexibly, which could improve their understanding of a robot’s behavior.

Humans who build more accurate mental models of a robot are often better collaborators, which is especially important when humans and robots work together in high-stakes situations like manufacturing and health care, says Serena Booth, a graduate student in the Interactive Robotics Group of the Computer Science and Artificial Intelligence Laboratory (CSAIL), and lead author of the paper.

“Whether or not we try to help people build conceptual models of robots, they will build them anyway. And those conceptual models could be wrong. This can put people in serious danger. It is important that we use everything we can to give that person the best mental model they can build,” says Booth.

Booth and her advisor, Julie Shah, an MIT professor of aeronautics and astronautics and the director of the Interactive Robotics Group, co-authored this paper in collaboration with researchers from Harvard. Elena Glassman ’08, MNG ’11, PhD ’16, an assistant professor of computer science at Harvard’s John A. Paulson School of Engineering and Applied Sciences, with expertise in theories of learning and human-computer interaction, was the primary advisor on the project. Harvard co-authors also include graduate student Sanjana Sharma and research assistant Sarah Chung. The research will be presented at the IEEE Conference on Human-Robot Interaction.

 

A Theoretical Approach

The researchers analyzed 35 research papers on human-robot teaching using two key theories. The “analogical transfer theory” suggests that humans learn by analogy. When a human interacts with a new domain or concept, they implicitly look for something familiar they can use to understand the new entity.

The “variation theory of learning” argues that strategic variation can reveal concepts that might be difficult for a person to discern otherwise. It suggests that humans go through a four-step process when they interact with a new concept: repetition, contrast, generalization, and variation.

While many research papers incorporated partial elements of one theory, this was most likely due to happenstance, Booth says. Had the researchers consulted these theories at the outset of their work, they may have been able to design more effective experiments.

For instance, when teaching humans to interact with a robot, researchers often show people many examples of the robot performing the same task. But for people to build an accurate mental model of that robot, variation theory suggests that they need to see an array of examples of the robot performing the task in different environments, and they also need to see it make mistakes.

“It is very rare in the human-robot interaction literature because it is counterintuitive, but people also need to see negative examples to understand what the robot is not,” Booth says.

These cognitive science theories could also improve physical robot design. If a robotic arm resembles a human arm but moves in ways that are different from human motion, people will struggle to build accurate mental models of the robot, Booth explains. As suggested by analogical transfer theory, because people map what they know — a human arm — to the robotic arm, if the movement doesn’t match, people can be confused and have difficulty learning to interact with the robot.

 

Enhancing Explanations

Booth and her collaborators also studied how theories of human-concept learning could improve the explanations that seek to help people build trust in unfamiliar, new robots.

“In explainability, we have a really big problem of confirmation bias. There are not usually standards around what an explanation is and how a person should use it. As researchers, we often design an explanation method, it looks good to us, and we ship it,” she says.

Instead, they suggest that researchers use theories from human concept learning to think about how people will use explanations, which are often generated by robots to clearly communicate the policies they use to make decisions. By providing a curriculum that helps the user understand what an explanation method means and when to use it, but also where it does not apply, they will develop a stronger understanding of a robot’s behavior, Booth says.

Based on their analysis, they make a number of recommendations about how research on human-robot teaching can be improved. For one, they suggest that researchers incorporate analogical transfer theory by guiding people to make appropriate comparisons when they learn to work with a new robot. Providing guidance can ensure that people use fitting analogies so they aren’t surprised or confused by the robot’s actions, Booth says.

They also suggest that including positive and negative examples of robot behavior, and exposing users to how strategic variations of parameters in a robot’s “policy” affect its behavior, eventually across strategically varied environments, can help humans learn better and faster. The robot’s policy is a mathematical function that assigns probabilities to each action the robot can take.

“We’ve been running user studies for years, but we’ve been shooting from the hip in terms of our own intuition as far as what would or would not be helpful to show the human. The next step would be to be more rigorous about grounding this work in theories of human cognition,” Glassman says.

Now that this initial literature review using cognitive science theories is complete, Booth plans to test their recommendations by rebuilding some of the experiments she studied and seeing if the theories actually improve human learning.

 

Suggested Reading



EdgeComputing Can Take AI Out of the Cloud and to the Moon



How AI is Shaping the Cybersecurity Arms Race





Robotics and AI Are Being Tapped by Cannabis Growers



Integrating Innovative Technology Inputs in Modern Warfare

 

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Salem Media Group, Inc. Schedules 2022 Annual Meeting of Stockholders



Salem Media Group, Inc. Schedules 2022 Annual Meeting of Stockholders

Research, News, and Market Data on Salem Media

 

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today that it has scheduled its 2022 Annual Meeting of Stockholders to be held on Wednesday, May 4, 2022, at Salem’s principal executive offices, which are located at 6400 N. Belt Line Road, Irving, Texas, 75063, at 11:30 a.m. C.D.T.

Salem also announced the record date applicable for the voting of shares at the Annual Meeting to be March 9, 2022.

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising of radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.comFacebook and Twitter.

Evan D. Masyr
Executive Vice President and Chief Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group, Inc.

Ocugen (OCGN) – COVAXIN Pediatric EUA Declined But Majority of Expected Market Unaffected

Monday, March 07, 2022

Ocugen (OCGN)
COVAXIN Pediatric EUA Declined, But Majority of Expected Market Unaffected

Ocugen Inc is a clinical stage biopharmaceutical company. It is focused on discovering, developing and commercializing a pipeline of innovative therapies that address rare and underserved eye diseases. Ocugen offers a diversified ophthalmology portfolio that includes novel gene therapies, biologics, and small molecules and targets a broad range of high-need retinal and ocular surface diseases.

Robert LeBoyer, Vice President, Research Analyst, Life Sciences, Noble Capital Markets, Inc.

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

    FDA Has Denied The Pediatric Emergency Use Application (EUA).  Ocugen has announced that the FDA has declined its EUA for pediatric use in the ages 2 through 18 group. Although its approval would have been positive sign for full product BLA approval, we do not believe its denial will have any impact on the BLA for adult use.

    BLA Application for Adult Use Is Unaffected.  Ocugen did not give details about the reasons for the denial, only saying that it will “continue working with the FDA to evaluate the the regulatory pathway for COVAXIN.” We believe the FDA is highly unlikely to approve additional COVID-19 products under Emergency Use guidelines, and that the COVAXIN pediatric indication submission will be reviewed …


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. 

Sierra Metals Announces Filing Of NI 43-101 Technical Report For Updated PEA On The Expansion Of Its Yauricocha Mine In Peru



Sierra Metals Announces Filing Of NI 43-101 Technical Report For Updated PEA On The Expansion Of Its Yauricocha Mine In Peru

Research, News, and Market Data on Sierra Metals

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or ““Company”) has filed an updated technical report (the “Report“) prepared in accordance with National Instrument 43-101 on the expansion of its Yauricocha Mine in Peru.

The Report dated February 25, 2022 with an effective date of March 31, 2021, is entitled “Preliminary Economic Assessment, Yauricocha Mine, Yauyos Province, Peru.” The Report was prepared for Sierra Metals by SRK Consulting (Canada) Inc. (“SRK”) and Redco Global Peru S.A.C. (“Redco”). There are no material differences in the Report from those results disclosed in the Company’s press release dated January 20, 2022.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company with Green Metal exposure including increasing copper production and base metal production with precious metals byproduct credits, focused on the production and development of its 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 Bolsa de Valores de Lima and on the Toronto Stock Exchange 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:

Webwww.sierrametals.com | Twittersierrametals | FacebookSierraMetalsInc | LinkedInSierra Metals Inc | Instagramsierrametals

Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com

Americo Zuzunaga
Vice President of Corporate Planning
Sierra Metals Inc.
Tel: +1 (416) 366-7777

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

Source: Sierra Metals Inc.

Item 9 Labs Corp. Closes Acquisition of Adams County, Colorado Dispensary



Item 9 Labs Corp. Closes Acquisition of Adams County, Colorado Dispensary

Research, News, and Market Data on Item 9 Labs

Franchisor of Cannabis Dispensary, Unity Rd. Seeks to Keep Dispensary Ownership Local by Providing Turnkey Investment Opportunities for New and Existing Franchise Partners

DENVER March 4, 2022 /PRNewswire/ — Item 9 Labs Corp. (OTCQX: INLB) (the “Company”) — a vertically integrated cannabis dispensary franchisor and operator that produces premium, award-winning products — announced today that it has closed its acquisition of an existing dispensary license and storefront in Adams County, Colorado.

Located at 6101 N. Washington St. in Denver, this will be the first corporate-owned shop under the Unity Rd. brand. The Company expects the shop to be operational in the first half of 2022.

Acquisition Marks First in Company’s National Growth Accelerator

This acquisition is part of an overarching strategy to accelerate national development by creating turnkey investment opportunities for Unity Rd. franchise partners. Item 9 Labs Corp. plans to aggressively expand its dispensary franchise by acquiring and converting cannabis retail stores, training the local team and selling the business to new and existing franchise partners.

“Entrepreneurs are flocking to cannabis, eager to grab a piece of the $25 billion a year market, but soon find that opening a cannabis business is most often a lengthy, complex process,” said Item 9 Labs Corp.’s Chief Executive Officer, Andrew Bowden. “This development strategy offers one of the most turn-key entrances into cannabis. With our team handling the acquisition, conversion and training internally, we expect our national Unity Rd. footprint to expand much more quickly.”

As part of these development efforts, the Company is seeking acquisitions of cannabis dispensaries in Denver, front range and compelling mountain towns throughout Colorado, and key markets in ArizonaMichigan and Oklahoma.

“Unity Rd. is the growth vehicle that will bring our award-winning, premium Item 9 Labs products to new states,” added the Company’s Chief Strategy Officer, Jeffrey Rassas. “We are also seeking opportunities to acquire, develop or partner with cultivation and production facilities in markets where we have two to three Unity Rd. shops to ease new market product entry and focus our operations.”

Bringing Item 9 Labs products to markets where Unity Rd. shops are located gives franchise partners front-of-the-line access to a reliable, award-winning product supply chain. The cannabis retail shop also benefits from the national product consistency that consumers have come to expect from franchise brands.

More Information on Item 9 Labs Corp. and Unity Rd.:
Visit https://investors.item9labscorp.com/

Cannabis Operators Interested in Selling Their Dispensary License:
Contact Mark Busch at acquisitions@item9labs.com

Turnkey Business Opportunity Keeps Dispensary Ownership Local

Through its Unity Rd. dispensary franchise, the Company is focused on building a national community of local dispensary owners who operate compliantly and confidently because of the tools, products, systems and training their team provides.

“With Unity Rd., we are keeping dispensary ownership local and thriving with the backing of a franchise system,” Rassas added. “This growth plan ultimately keeps dispensary ownership in the hands of the local entrepreneur. They hire local talent and keep the wealth cannabis offers within their community.”

Unity Rd. offers a guided route for cannabis entrepreneurs interested in staking their claim in an industry that is bursting with potential. The dispensary franchisor’s time-tested Standard Operating Procedures (“SOPs”) and veteran team with a combined 120-plus years of cannabis experience, direct franchise partners through every operational function of the business – from securing a license to assisting with cash flow, product selection or changing regulations.

The marijuana franchise is actively seeking qualified franchise partners throughout Colorado and the U.S. who would benefit from the systems, processes and ongoing support the franchise offers. Currently, Unity Rd. has multiple agreements signed with nearly 20 entrepreneurial groups who are in various stages of development nationwide.

More Information About the Unity Rd. Franchise Opportunity:
Contact franchise@unityrd.com, Call 720-923-5262 or Visit unityrd.com

About Item 9 Labs Corp.
Item 9 Labs Corp. (OTCQX: INLB) is a vertically integrated cannabis operator and dispensary franchisor delivering premium products from its large-scale cultivation and production facilities in the United States. The award-winning Item 9 Labs brand specializes in best-in-class products and user experience across several cannabis categories. The company also offers a unique dispensary franchise model through the national Unity Rd. retail brand. Easing barriers to entry, the franchise provides an opportunity for both new and existing dispensary owners to leverage the knowledge, resources, and ongoing support needed to thrive in their state compliantly and successfully. Item 9 Labs brings the best industry practices to markets nationwide through distinctive retail experience, cultivation capabilities, and product innovation. The veteran management team combines a diverse skill set with deep experience in the cannabis sector, franchising, and the capital markets to lead a new generation of public cannabis companies that provide transparency, consistency, and well-being. Headquartered in Arizona, the company is currently expanding its operations space by 640,000+ square feet on its 50-acre site, one of the largest properties in Arizona zoned to grow and cultivate flower. For additional information, visit https://investors.item9labscorp.com/.

About Unity Rd.
Unity Rd. is bridging the two previously disconnected worlds of cannabis and franchising. The industry trailblazer is the first to bring the cannabis dispensary franchise model to the United States—with duality of prowess in both industries to back it up. Built up from a collective 200 years in the legal cannabis industry and franchising, the company helps eager operators enter the complex industry with ease. The marijuana franchise pioneer offers its partners the knowledge, resources, and ongoing support needed to compliantly and successfully operate a dispensary. Launched in 2018, Unity Rd. has signed multiple agreements with nearly 20 entrepreneurial groups across the country. Recently, it was named one of the top cannabis retail leaders in the nation by MJBizDaily magazine and one of the “Best Cannabis Companies to Work For” in both the dispensary and cultivation categories in Cannabis Business Times’ elite 2020 list. The company is also the first cannabis business to earn a Franchise Times Dealmakers award. For more information, visit unityrd.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, including, but not limited to, risks and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, proposed transactions that are not legally binding obligations of the company and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Media Contact:
Item 9 Labs Corp.
Jayne Levy, VP of Communications
Jayne@item9labs.com

Investor Contact:
Item 9 Labs Corp.
800-403-1140
investors@item9labs.com

SOURCE Item 9 Labs Corp.

Nancy Pelosi’s Coattail Investors Get an Update


Image: BJClayborn (Flickr)


Pelosi’s Recent Investment Portfolio Tweaks

 

House Speaker Nancy Pelosi’s husband, financier Paul Pelosi, has had remarkable stock-picking success. This hasn’t gone unnoticed by coattail investors and others that peruse the couple’s investment transactions for ideas. Nancy Pelosi’s wealth, in part because of her spouse’s investment track record, is now listed as 13th among the wealthiest members of Congress. This is why others look to see where they are committing assets.

Background

So-called coat tail or copycat investors that follow hedge fund managers and other professional investors often have to wait 45 days for a quarterly filing to be made public. This makes some of the listed transactions as ancient as 135 days old by the time they become public information. Perhaps too old to act on, the positions may no longer even be held in the portfolio.

Congress and close family members are required to release information concerning their transactions within 45 days of the trade execution. This provides much more current information on a member of Congress’ account than a quarterly 13F filing by Ark Invest or Scion Capital does. The most recent Periodic Transactions Report of the Pelosi’s is comprised of investments all made in late January.

Holdings Changes

From January 21- January 27 there was $2.9m of large tech and financial firms added to Pelosi’s assets. They were Alliance Bernstein (AB), American Express (AXP), Apple (AAPL), Paypal (PYPL), and Walt Disney (DIS). There was nothing reported to suggest that they lowered their holding in previous high flyers, Slack (WORK), Tesla (TSLA), Alphabet (GOOGL), Facebook (FB), or Netflix (NFLX)

 

Image: Paul Pelosi’s Stock Act filing (January 2022)

 

Related News

The latest transaction report comes at a time when actions are being discussed by lawmakers that could require members of Congress and their spouses to be barred from trading individual stocks. A House panel is meeting on March 16th to debate the merits of a Congressional ban on trading and what any trading rules should include. Similar restrictions have been placed on officials at the Federal Reserve.

Representative Lofgren chairs the House Administration Committee; he has been compiling recommendations on how best to enact a ban. The House leadership, steered by Speaker Pelosi, will then have the final decision on how to proceed. Other laws covering members and staff, such as the Ethics in Government Act, are expected to be reviewed as well.

Take-Away

Copycat investing is easiest if you’re mimicking a lawmaker as their reporting is more frequent than SEC-regulated money managers. One of the most successful accounts in Congress is that of the Pelosis. The opportunity to follow lawmakers’ trades may one day come to an end as lawmakers are looking to ban themselves from trading in stocks. Should this ever come to be, this method for self-directed traders to discover ideas will come to an end.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading



Lawmakers and Insider Trading Laws



About Cathie Wood’s SEC Filing for a Private Equity Fund





Michael Burry’s Stock Market Holdings (Filed Feb 14, 2022)



The SPAC Advantage in a Volatile or Bear Market

 

Sources

Pelosi’s Transaction
Report

https://www.investopedia.com/terms/c/coattailinvesting.asp

https://email.punchbowl.news/t/ViewEmail/t/FA92DBE67DB478132540EF23F30FEDED/BCD22D0840B16355A0F01D70678E0DEE

https://www.businessinsider.com/nancy-pelosi-discloses-stock-trades-amid-calls-trading-ban-congress-2022-3


 

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Ocugen Provides an Update on its COVAXIN™ Pediatric (2-18) Emergency Use Authorization (EUA) Request



Ocugen Provides an Update on its COVAXIN™ Pediatric (2-18) Emergency Use Authorization (EUA) Request

Research, News, and Market Data on Ocugen

 

MALVERN, Pa., March 04, 2022 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN), a clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, today announced that the U.S. Food and Drug Administration (FDA), at this time, has declined to issue an EUA for COVAXIN™ for active immunization to prevent COVID-19 caused by SARS-CoV-2 in individuals 2 to 18 years of age. Ocugen intends to continue working with FDA to evaluate the regulatory pathway for the pediatric use of COVAXIN™.

About Ocugen, Inc.
Ocugen, Inc. is a clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug – “one to many” and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema and diabetic retinopathy. We are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for COVID-19 in the U.S. and Canadian markets. For more information, please visit www.ocugen.com.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. Such forward-looking statements within this press release include, without limitation, our intent to work with the FDA with respect to the regulatory pathway for COVAXIN. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from our current expectations, such as market and other conditions. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (the “SEC”), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, after the date of this press release.

Ocugen Contact:
Ken Inchausti
Head, Investor Relations & Communications
IR@Ocugen.com

Please submit investor-related inquiries to: IR@ocugen.com

Kleptocapture and its Targets


Image: BJClayborn (Flickr)


Seizing Assets of Wealthy and Powerful Russians to Help Weaken Resolve

 

What’s an oligarch, what’s a Russian oligarch, and can nations around the globe choose to seize their assets?

In a US Justice Department press release on March 2nd, Attorney General Merrick Garland Announced the launch of Task Force KleptoCapture. According to the release, the “task force will surge federal law enforcement resources to hold accountable corrupt Russian oligarchs.”

The Task Force is dedicated to enforcing the strict sanctions, export restrictions, and economic countermeasures that the US, EU, and other partners have imposed on the aggressor, says the release.

It explains that Task Force KleptoCapture exists to ensure enough power is provided, so the full effect of the punitive actions and Russian isolation from global markets is fully implemented. The intent is to impose serious costs for an “unjustified act of war, by targeting the crimes of Russian officials, government-aligned elites, and those who aid or conceal their unlawful conduct” according to the DOJ release.

Deputy Attorney General Lisa Monaco is quoted in the release as saying, “To those bolstering the Russian regime through corruption and sanctions evasion: we will deprive you of safe haven and hold you accountable”. “Oligarchs be warned: we will use every tool to freeze and seize your criminal proceeds.” The press release goes on to define the task forces full mission which not only has implications for powerful Russians, it may also impact cryptocurrency transactions and others that under “normal” circumstances may not have been considered as crimes that are worthy of the penalties imposed. The DOJ summarized the mission of the Task Force to include:

  • Investigating and prosecuting violations of new and future sanctions imposed in response to the Ukraine invasion, as well as sanctions imposed for prior instances of Russian aggression and corruption;
  • Combating unlawful efforts to undermine restrictions taken against Russian financial institutions, including the prosecution of those who try to evade know-your-customer and anti-money laundering measures;
  • Targeting efforts to use
    cryptocurrency to evade
    US sanctions, launder proceeds of foreign corruption, or evade US responses to Russian military aggression; and
  • Using civil and criminal asset forfeiture authorities to seize assets belonging to sanctioned individuals or assets identified as the proceeds of unlawful conduct.

Using the combined force of powerful nations to determine guilt and then punish people with close ties to President Putin and their families may turn out to be effective, but, not unlike the conundrum experienced by crypto
exchanges
,  it does create questions related to who owns what and who may seize that which others own. For example, a 500-foot megayacht seized this week in Germany owned by a member of the Russian elite.

A group of mostly obscure officials and businessmen from Russia are now being closely tracked financially. Some of the listed targets have indicated publicly they are against the war. And according to the Wall Street Journal, many of Russia’s better-known oligarchs aren’t on any governments’ sanctions lists. This is the case with Roman Abramovich, who made his money in the energy business and is the owner of British soccer club Chelsea FC. In recent days, he has offered to mediate peace efforts and said he’s looking to sell Chelsea.

Western governments hope that heightened scrutiny of Russia’s oligarchs will pressure President Vladimir Putin.

What is an Oligarch?

An “oligarchy” describes a power system led by a small group of people. It could be compared to a ruling monarchy, although the small number of leaders aren’t necessarily related. In recent years, the word “oligarch” has taken on a more specific meaning when it relates to states from the former USSR. Here it translates to businesspeople and officials who gained wealth and power in the years following the collapse of the Soviet Union.

 

“We are joining with our European allies to find and
seize your yachts, your luxury apartments, your private jets. We are coming for
your ill-begotten gains.”
President Biden, State of the Union Address (March 2022)

 

How Russia’s Oligarchs Gained Wealth and Power?

The country’s current crop of billionaires and officials accumulated wealth and power in different ways. Some of those on the sanction list are part of Mr. Putin’s inner circle; others are longtime associates; while others benefited from a wave of privatizations that followed the collapse of the Soviet Union.

Their Public Stance on the War

Oleg Deripaska, a raw-materials magnate who had been sanctioned before (2014/Crimea) by the US, wrote on social media Sunday that peace “is very important.” Mr. Deripaska sued the US Treasury Department in 2019, challenging his inclusion in the Treasury’s report on Russian oligarchs as well as the sanctions against him. He alleges the US made false accusations based on rumor and innuendo to support the sanctions. A court ruled against Oleg last June.

Mikhail Fridman is the founder of Alfa Bank, Russia’s largest private bank. Mikhail was sanctioned by the EU late Monday. Fridman says he will contest the designation and that he isn’t politically or financially connected to Mr. Putin. “It seems to me that we have done a lot of good things, invested in companies, created a lot of jobs,” Mr. Fridman said at a press conference from his private-equity firm’s office in London. “We will litigate to protect our reputation.”

Take-Away

All matters related to war, politics, and justice are delicate.

 

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading



Should Bitcoins Ability to Soften and Stabilize Russian Finances be Stopped?



Integrating Innovative Technology Inputs in Modern Warfare





Cryptocurrencies with the Help of DAOs Provide a Means to Support Ukraine’s Efforts



Will the SEC Allow ETFs to Own Cryptocurrency?

 

Sources

https://www.justice.gov/opa/pr/attorney-general-merrick-b-garland-announces-launch-task-force-kleptocapture

https://www.aljazeera.com/news/2022/3/2/us-launches-kleptocapture-task-force-against-russian-oligarchs


 

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Nancy Pelosis Coattail Investors Get an Update


Image: BJClayborn (Flickr)


Pelosi’s Recent Investment Portfolio Tweaks

 

House Speaker Nancy Pelosi’s husband, financier Paul Pelosi, has had remarkable stock-picking success. This hasn’t gone unnoticed by coattail investors and others that peruse the couple’s investment transactions for ideas. Nancy Pelosi’s wealth, in part because of her spouse’s investment track record, is now listed as 13th among the wealthiest members of Congress. This is why others look to see where they are committing assets.

Background

So-called coat tail or copycat investors that follow hedge fund managers and other professional investors often have to wait 45 days for a quarterly filing to be made public. This makes some of the listed transactions as ancient as 135 days old by the time they become public information. Perhaps too old to act on, the positions may no longer even be held in the portfolio.

Congress and close family members are required to release information concerning their transactions within 45 days of the trade execution. This provides much more current information on a member of Congress’ account than a quarterly 13F filing by Ark Invest or Scion Capital does. The most recent Periodic Transactions Report of the Pelosi’s is comprised of investments all made in late January.

Holdings Changes

From January 21- January 27 there was $2.9m of large tech and financial firms added to Pelosi’s assets. They were Alliance Bernstein (AB), American Express (AXP), Apple (AAPL), Paypal (PYPL), and Walt Disney (DIS). There was nothing reported to suggest that they lowered their holding in previous high flyers, Slack (WORK), Tesla (TSLA), Alphabet (GOOGL), Facebook (FB), or Netflix (NFLX)

 

Image: Paul Pelosi’s Stock Act filing (January 2022)

 

Related News

The latest transaction report comes at a time when actions are being discussed by lawmakers that could require members of Congress and their spouses to be barred from trading individual stocks. A House panel is meeting on March 16th to debate the merits of a Congressional ban on trading and what any trading rules should include. Similar restrictions have been placed on officials at the Federal Reserve.

Representative Lofgren chairs the House Administration Committee; he has been compiling recommendations on how best to enact a ban. The House leadership, steered by Speaker Pelosi, will then have the final decision on how to proceed. Other laws covering members and staff, such as the Ethics in Government Act, are expected to be reviewed as well.

Take-Away

Copycat investing is easiest if you’re mimicking a lawmaker as their reporting is more frequent than SEC-regulated money managers. One of the most successful accounts in Congress is that of the Pelosis. The opportunity to follow lawmakers’ trades may one day come to an end as lawmakers are looking to ban themselves from trading in stocks. Should this ever come to be, this method for self-directed traders to discover ideas will come to an end.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading



Lawmakers and Insider Trading Laws



About Cathie Wood’s SEC Filing for a Private Equity Fund





Michael Burry’s Stock Market Holdings (Filed Feb 14, 2022)



The SPAC Advantage in a Volatile or Bear Market

 

Sources

Pelosi’s Transaction
Report

https://www.investopedia.com/terms/c/coattailinvesting.asp

https://email.punchbowl.news/t/ViewEmail/t/FA92DBE67DB478132540EF23F30FEDED/BCD22D0840B16355A0F01D70678E0DEE

https://www.businessinsider.com/nancy-pelosi-discloses-stock-trades-amid-calls-trading-ban-congress-2022-3


 

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Release – Item 9 Labs Corp. Closes Acquisition of Adams County Colorado Dispensary



Item 9 Labs Corp. Closes Acquisition of Adams County, Colorado Dispensary

Research, News, and Market Data on Item 9 Labs

Franchisor of Cannabis Dispensary, Unity Rd. Seeks to Keep Dispensary Ownership Local by Providing Turnkey Investment Opportunities for New and Existing Franchise Partners

DENVER March 4, 2022 /PRNewswire/ — Item 9 Labs Corp. (OTCQX: INLB) (the “Company”) — a vertically integrated cannabis dispensary franchisor and operator that produces premium, award-winning products — announced today that it has closed its acquisition of an existing dispensary license and storefront in Adams County, Colorado.

Located at 6101 N. Washington St. in Denver, this will be the first corporate-owned shop under the Unity Rd. brand. The Company expects the shop to be operational in the first half of 2022.

Acquisition Marks First in Company’s National Growth Accelerator

This acquisition is part of an overarching strategy to accelerate national development by creating turnkey investment opportunities for Unity Rd. franchise partners. Item 9 Labs Corp. plans to aggressively expand its dispensary franchise by acquiring and converting cannabis retail stores, training the local team and selling the business to new and existing franchise partners.

“Entrepreneurs are flocking to cannabis, eager to grab a piece of the $25 billion a year market, but soon find that opening a cannabis business is most often a lengthy, complex process,” said Item 9 Labs Corp.’s Chief Executive Officer, Andrew Bowden. “This development strategy offers one of the most turn-key entrances into cannabis. With our team handling the acquisition, conversion and training internally, we expect our national Unity Rd. footprint to expand much more quickly.”

As part of these development efforts, the Company is seeking acquisitions of cannabis dispensaries in Denver, front range and compelling mountain towns throughout Colorado, and key markets in ArizonaMichigan and Oklahoma.

“Unity Rd. is the growth vehicle that will bring our award-winning, premium Item 9 Labs products to new states,” added the Company’s Chief Strategy Officer, Jeffrey Rassas. “We are also seeking opportunities to acquire, develop or partner with cultivation and production facilities in markets where we have two to three Unity Rd. shops to ease new market product entry and focus our operations.”

Bringing Item 9 Labs products to markets where Unity Rd. shops are located gives franchise partners front-of-the-line access to a reliable, award-winning product supply chain. The cannabis retail shop also benefits from the national product consistency that consumers have come to expect from franchise brands.

More Information on Item 9 Labs Corp. and Unity Rd.:
Visit https://investors.item9labscorp.com/

Cannabis Operators Interested in Selling Their Dispensary License:
Contact Mark Busch at acquisitions@item9labs.com

Turnkey Business Opportunity Keeps Dispensary Ownership Local

Through its Unity Rd. dispensary franchise, the Company is focused on building a national community of local dispensary owners who operate compliantly and confidently because of the tools, products, systems and training their team provides.

“With Unity Rd., we are keeping dispensary ownership local and thriving with the backing of a franchise system,” Rassas added. “This growth plan ultimately keeps dispensary ownership in the hands of the local entrepreneur. They hire local talent and keep the wealth cannabis offers within their community.”

Unity Rd. offers a guided route for cannabis entrepreneurs interested in staking their claim in an industry that is bursting with potential. The dispensary franchisor’s time-tested Standard Operating Procedures (“SOPs”) and veteran team with a combined 120-plus years of cannabis experience, direct franchise partners through every operational function of the business – from securing a license to assisting with cash flow, product selection or changing regulations.

The marijuana franchise is actively seeking qualified franchise partners throughout Colorado and the U.S. who would benefit from the systems, processes and ongoing support the franchise offers. Currently, Unity Rd. has multiple agreements signed with nearly 20 entrepreneurial groups who are in various stages of development nationwide.

More Information About the Unity Rd. Franchise Opportunity:
Contact franchise@unityrd.com, Call 720-923-5262 or Visit unityrd.com

About Item 9 Labs Corp.
Item 9 Labs Corp. (OTCQX: INLB) is a vertically integrated cannabis operator and dispensary franchisor delivering premium products from its large-scale cultivation and production facilities in the United States. The award-winning Item 9 Labs brand specializes in best-in-class products and user experience across several cannabis categories. The company also offers a unique dispensary franchise model through the national Unity Rd. retail brand. Easing barriers to entry, the franchise provides an opportunity for both new and existing dispensary owners to leverage the knowledge, resources, and ongoing support needed to thrive in their state compliantly and successfully. Item 9 Labs brings the best industry practices to markets nationwide through distinctive retail experience, cultivation capabilities, and product innovation. The veteran management team combines a diverse skill set with deep experience in the cannabis sector, franchising, and the capital markets to lead a new generation of public cannabis companies that provide transparency, consistency, and well-being. Headquartered in Arizona, the company is currently expanding its operations space by 640,000+ square feet on its 50-acre site, one of the largest properties in Arizona zoned to grow and cultivate flower. For additional information, visit https://investors.item9labscorp.com/.

About Unity Rd.
Unity Rd. is bridging the two previously disconnected worlds of cannabis and franchising. The industry trailblazer is the first to bring the cannabis dispensary franchise model to the United States—with duality of prowess in both industries to back it up. Built up from a collective 200 years in the legal cannabis industry and franchising, the company helps eager operators enter the complex industry with ease. The marijuana franchise pioneer offers its partners the knowledge, resources, and ongoing support needed to compliantly and successfully operate a dispensary. Launched in 2018, Unity Rd. has signed multiple agreements with nearly 20 entrepreneurial groups across the country. Recently, it was named one of the top cannabis retail leaders in the nation by MJBizDaily magazine and one of the “Best Cannabis Companies to Work For” in both the dispensary and cultivation categories in Cannabis Business Times’ elite 2020 list. The company is also the first cannabis business to earn a Franchise Times Dealmakers award. For more information, visit unityrd.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, including, but not limited to, risks and effects of legal and administrative proceedings and governmental regulation, especially in a foreign country, future financial and operational results, competition, general economic conditions, proposed transactions that are not legally binding obligations of the company and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include the introduction of new technology, market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Media Contact:
Item 9 Labs Corp.
Jayne Levy, VP of Communications
Jayne@item9labs.com

Investor Contact:
Item 9 Labs Corp.
800-403-1140
investors@item9labs.com

SOURCE Item 9 Labs Corp.

Release – Sierra Metals Announces Filing Of NI 43-101 Technical Report For Updated PEA On The Expansion Of Its Yauricocha Mine In Peru



Sierra Metals Announces Filing Of NI 43-101 Technical Report For Updated PEA On The Expansion Of Its Yauricocha Mine In Peru

Research, News, and Market Data on Sierra Metals

 

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or ““Company”) has filed an updated technical report (the “Report“) prepared in accordance with National Instrument 43-101 on the expansion of its Yauricocha Mine in Peru.

The Report dated February 25, 2022 with an effective date of March 31, 2021, is entitled “Preliminary Economic Assessment, Yauricocha Mine, Yauyos Province, Peru.” The Report was prepared for Sierra Metals by SRK Consulting (Canada) Inc. (“SRK”) and Redco Global Peru S.A.C. (“Redco”). There are no material differences in the Report from those results disclosed in the Company’s press release dated January 20, 2022.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company with Green Metal exposure including increasing copper production and base metal production with precious metals byproduct credits, focused on the production and development of its 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 Bolsa de Valores de Lima and on the Toronto Stock Exchange 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.

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Investor Relations
Sierra Metals Inc.
Tel: +1 (416) 366-7777
Email: info@sierrametals.com

Americo Zuzunaga
Vice President of Corporate Planning
Sierra Metals Inc.
Tel: +1 (416) 366-7777

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

Source: Sierra Metals Inc.

Release – Lifeist Wellness to Release Fourth Quarter and Full Year 2021 Results on March 25 2022

 



Lifeist Wellness to Release Fourth Quarter and Full Year 2021 Results on March 25, 2022

Research, News, and Market Data on Lifeist Wellness

 

TORONTO, March 03, 2022 (GLOBE NEWSWIRE) — Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: NXTTF), a health-tech company that leverages advancements in science and technology to build breakthrough companies that transform human wellness, today announced that it intends to release its financial results for the fiscal fourth quarter and full year ended November 30, 2021, on Friday, March 25, 2022, before the market open.

In addition, the Company provided the following corporate updates:

Share Issuance Related to CannMart Labs Inc.

Lifeist intends to issue an aggregate of 3,481,912 common shares (issued at a deemed price of $0.0774, which is equal to the seven-day volume weighted average per common share for the trading period up to and including March 3, 2022), without a hold period, as payment of the fifth tranche of the remaining base purchase price to the vendors under the share purchase agreement for the acquisition of CannMart Labs Inc. The issuance is considered to be a shares-for-debt transaction under the policies of the TSX-V and remains subject to TSX-V approval.

Australia Flooding

A major flooding event has occurred in Queensland and New South Wales, Australia, resulting in property damage and loss of life throughout the region and including in Brisbane where the Company’s wholly owned subsidiary Australian Vaporizers Pty Limited (“AV”) leases a warehouse facility. Thankfully, the Company can report that all members of the AV team are safe and accounted for, though the business did suffer partial loss of inventory and is experiencing business interruption. Whilst any disruption to any business is not welcome, the AV team is working diligently to resume standard operations as soon as possible and while the near-term impact is still being fully quantified, the Company is confident in AV’s ability for a quick and full recovery due to its superior customer service, high repeat customer rate, and the measures already put into place to maintain customer loyalty. Furthermore, AV will take this opportunity to instigate initiatives to optimize operations and set future foundations for continued growth by investigating expansion into new premises.

“First and foremost, my heart goes out to all those affected by the flooding,” said Meni Morim, CEO of Lifeist. “Unfortunate as it is, thanks to our amazing can-do team at AV, this challenge also presents an opportunity to accelerate improvement and growth. The AV team’s ‘build back better’ initiative will see the operation emerge better and stronger and consolidate its position as one of Australia’s pre-eminent sellers of vaporizers and smoking accessories.”

About Lifeist Wellness Inc.

Sitting at the forefront of the post-pandemic wellness revolution, Lifeist leverages advancements in science and technology to build breakthrough companies that transform human wellness. Portfolio business units include: CannMart, which operates a B2B wholesale distribution business facilitating recreational cannabis sales to Canadian provincial government control boards; CannMart Labs, a BHO extraction facility for the production of high margin cannabis 2.0 products; the CannMart.com marketplace, which provides U.S. customers with access to hemp-derived CBD and smoking accessories; Australian Vapes, Australia’s largest online retailer of vaporizers and accessories; Findify, a leading AI-powered search and discovery platform; and Mikra, a biosciences and consumer wellness company seeking to develop innovative therapies for cellular health.

Information on Lifeist and its businesses can be accessed through the links below:

www.lifeist.com
www.cannmart.com
www.australianvaporizers.com.au
www.wearemikra.com

Contacts

Lifeist Wellness Inc.
Meni Morim, CEO
Matt Chesler, CFA, Investor Relations
Ph: 647-362-0390
Email: ir@lifeist.com

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

Forward Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen.

The forward-looking information contained herein, including, without limitation, statements related to the issuance of shares as payment for the fifth tranche of the remaining base purchase price to the vendors under the share purchase agreement for the acquisition of CannMart Labs Inc. and the anticipated growth and improvement prospects of AV including the potential expansion into new premises as a result of the flooding, are made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, its ability to obtain TSX-V approval for the shares for debt transaction and AV’s ability to quickly resume business activities, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: the failure to obtain the requisite approval of the TSX-V for the shares-for-debt issuance, and the inability of AV to resume standard operations as soon as possible or as anticipated, and AV’s inability to find new adequate premises on economic terms, if at all. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed under the Company’s SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Source: Lifeist Wellness Inc.