Gray Television, Inc. operates as a television broadcast company in the United States. As of April 6, 2010, it operated 36 television stations in 30 markets, including 17 affiliated with CBS Inc.; 10 affiliated with the National Broadcasting Company, Inc.; 8 affiliated with the American Broadcasting Company (ABC); and 1 affiliated with FOX Entertainment Group, Inc. (FOX). The company also operated 39 digital second channels comprising 1 affiliated with ABC, 4 affiliated with FOX, 7 affiliated with CW Network, LLC, 18 affiliated with Twentieth Television, Inc., 2 affiliated with Universal Sports Network, and 7 local news/weather channels. Gray Television, Inc. was founded in 1897 and is headquartered in Atlanta, Georgia.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Patrick McCann, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Strong operating results. The company reported full year 2021 revenue of $2.413 billion, 2.2% higher than consensus estimates. Adj. EBITDA was especially strong for the year at $739 million, which beat consensus by 7.4%.
Auto set for a comeback. Auto was 17% of core advertising revenue in 2021 compared with 21% of core advertising revenue in 2020. In Q3 2022, management expects auto to begin recovering but it may not be fully recovered until 2023. Given the emergence of categories like sports betting, we believe the compounding effects of auto recovering could drive meaningful revenue momentum …
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.
News Release – Vancouver, British Columbia –March 2, 2022:Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF / FSE:35D) is pleased to announce results for an initial four diamond drill holes totalling 795 metres from the Company’s 29 hole, 5,349 metre diamond drill program completed during fall 2021. Drill holes WI21-33 through WI21-36, collared from the same pad, were designed to expand the Wicheeda Rare Earth Element (REE) deposit and further upgrade existing resource categories.
All four holes intersected high-grade REE mineralization over significant widths above the 0.5% TREO (total rare earth oxide) mineral resource lower cut-off from near surface to a maximum vertical depth of 200 metres. The Company expects to receive additional assay results from the 2021 Wicheeda REE Deposit resource expansion and delineation campaign in the coming days and weeks.
Luisa Moreno, President and Director of Defense Metals commented: “We are encouraged by the results of these initial four drill holes that have not only returned exceptionally high grade REE intervals but have also expanded mineralization beyond the mineral resource pit shell. We look forward to being able to release results as they are received from the remaining 25 diamond drill holes in the coming days and weeks. The 2021 drilling is expected to contribute to the expansion and upgrading of mineral resources we so recently demonstrated in our positive Wicheeda REE Project PEA.”
Drill hole WI21-33 (-80o dip / 350o azimuth), the first hole of the 2021 drill program, intersected mineralized dolomite carbonatite to a depth of 201 metres downhole returning assays of 3.17% TREO over 196 metres (Table 1, and Figure 1); including higher grade intervals of 3.63% TREO over 50 metres near surface, and significantly 4.29% TREO over 55 metres at depth expanding high-grade REE mineralization 32 metres beyond the current mineral resource pit shell. Drill hole WI21-33 was collared near the northern drilled extent of the Wicheeda REE Deposit and was designed to expand and further delineate inferred resources at depth where the final hole WI19-32 of the Company’s highly successful 2019 drill campaign yielded assays of 3.76% TREO over 75 metres[1].
Drill hole WI21-34 (-55o dip / 040o azimuth),drilled northeast to intermediate depths below WI19-32 intersected mineralized dolomite carbonatite to a depth of 117 metres downhole grading 2.97% TREO over 114 metres; including a higher grade near surface interval averaging 3.84% TREO over 67 metres (Figure 2).
Resource delineation drill holes WI21-35 (-55o dip / 080o azimuth) and WI21-36(-55o dip / 080o azimuth), drilled on section under 2019 drill hole WI19-31 that returned 4.57% TREO over 83 metres, established continuity of significantly REE mineralized dolomite carbonatite at depth with WI21-35 yielding 3.87% TREO over 120 metres; and WI21-36 intersecting a mixed-country rock bearing interval grading 2.35% TREO over 172 metres; including higher grade near surface and at depth intervals of 3.45% TREO over 35 metres and 3.02% TREO 38 metres, respectively (Figure 3).
Figure 1. Drill Section Holes WI21-33 and WI21-36
Figure 2. Drill Section Hole WI21-34
Figure 3. Drill Section Holes WI21-35 and WI21-36
About the Wicheeda REE Property
The 100% owned 2,008-hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway, and major highways.
The Wicheeda REE Project yielded a robust 2021 PEA that demonstrated an after-tax net present value (NPV@8%) of $517 million, and 18% IRR[3]. A unique advantage of the Wicheeda REE Project is the production of a saleable high-grade flotation-concentrate. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life producing and average of 25,423 tonnes REO annually. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.
Methodology and QA/QC
The analytical work reported on herein was performed by ALS Canada Ltd. (ALS) at Langley (sample preparation) and Vancouver (ICP-MS fusion), B.C. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. A 0.1-gram sample pulp was then subject to multi-element ICP-MS analysis via lithium-borate fusion to determine individual REE content (ME-MS81h). Defense Metals follows industry standard procedures for the work carried out on the Wicheeda Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Defense Metals detected no significant QA/QC issues during review of the data.
Within drill holes WI21-34 and WI21-36 occur two zones of poor core recovery averaging 13-15% over an interval of 9.15 metres between 89.95 and 99.1 metres, and 35.65 an d44.80 metres, respectively. Drill core from these intervals was combined into a single 9.15 metre composite for assay. The returned assay results of 1.27% TREO (WI21-34) and 1.84% TREO (WI21-36) are consistent with assays results above and below in the drill holes and as a result are considered reasonable and reliable. Defense Metals is not aware of any other drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data referred to herein.
Qualified Person
The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in NI 43-101. Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.
About Defense Metals Corp.
Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.
For further information, please contact:
Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca
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 news release.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains “forward?looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, drill results including anticipated timeline of such results/assays, the Company’s plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters),risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law.
[1]The true width of REE mineralization is estimated to be 70-100% of the drilled interval.
[2]TREO % sum of CeO2, La2O3, Nd2O3, Pr6O11, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3 and Ho2O3.
[3] Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).
RONNIE MILLER, PRESIDENT AND CEO OF ROCHE CANADA FROM 2000-2022 RETIRING AFTER 43 YEARS OF LEADERSHIP SERVICE IN THE PHARMACEUTICAL INDUSTRY JOINS THE COMPANY’S BOARD OF DIRECTORS
EDMONTON, Alberta, March 02, 2022 (GLOBE NEWSWIRE) — Ceapro Inc.(TSX-V: CZO; OTCQX: CRPOF) (“Ceapro” or the “Company”), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, today announced the appointment of leading international pharmaceutical industry executive, Ronnie Miller, to its Board of Directors.
Glenn Rourke, MBA, Chairman of the Board, stated, “We are delighted and honored to welcome Mr. Miller to our Board of Directors. He is an accomplished global executive with exceptional leadership skills and recognized achievements at all levels in the healthcare industry. With his vast expertise and successful track record, we believe Mr. Miller is the ideal candidate to provide guidance to Ceapro’s leadership team to successfully bring it to the next level as a life sciences company.”
Mr. Miller brings more than 43 years of extensive and broad leadership experience in the pharmaceutical industry. Until March 2022, he served as President and CEO of Hoffmann-La Roche Limited (Roche Canada). In his 22-year tenure in this role, he was responsible for the growth and success of the Canadian Pharmaceuticals Division, particularly as it relates to Roche’s mandate of developing and delivering innovative healthcare solutions for Canadians. Prior to his appointment as President and CEO, Mr. Miller advanced through a series of successive sales and management positions across the industry to become the National Sales Manager for Roche in the United Kingdom in 1988 and continued to move globally as a Product Manager in Switzerland and Deputy Divisional Director of the Pharmaceutical Division in Japan. He moved back to Switzerland to head up a global product launch before returning to the UK as Pharmaceuticals Director.
In addition to managing Roche Canada where he pioneered global operating models, Mr. Miller was heavily involved in the Canadian Healthcare Ecosystem. He was re-elected as Chairman of the Board of Directors of Innovative Medicines Canada (IMC), the national association representing Canada’s research-based pharmaceutical companies, from 2019 to 2022. Additionally, he served as Chairman of the IMC Board in 2007 and has since fulfilled two subsequent terms as Past Chair. Prior to this, Mr. Miller was the Chair of the IMC Prairies Core Team and sat as Co-Chair of the Health Research Foundation. He also served on several committees including the IMC Public Affairs, Stakeholder Relations, the British Columbia Sub-Committee, and was Chair of the Federal Affairs/FPT Relations Standing Committee.
Over the course of his career some of his major accomplishments include, managing to get the Montreal Heart Institute designated as the hub for translational medicine studying cardiometabolic disease in the global network of Roche International; launching the National Artificial Intelligence Centre of Excellence to drive digital intelligence in Health in 2020; and convincing Swiss Parent Company Hoffmann-La Roche to locate its Global Pharma Technical Operations in Mississauga, Ontario; a $500 million investment.
Mr. Miller commented, “It is my great pleasure to join the Ceapro Board of Directors at this important time as the Company expands its natural ingredient product expertise into additional potential therapeutic indications. To-date the board and management team have built a solid foundation by putting all the pieces in place for long-term growth. As the Company continues to progress, I look forward to actively working alongside the team to maximize the potential and value of Ceapro.”
Gilles Gagnon, M.Sc., MBA, President and CEO of Ceapro, added, “Mr. Miller brings invaluable experience in managing and building international pharmaceutical companies and especially in developing and mentoring top talented people who fosters innovation for the benefit of patients. We firmly believe that his business acumen combined with his successful business development track record and vast industry network will prove to be invaluable as we expand our business model though the development of natural products and technology platforms into the expansive nutraceutical and pharmaceutical markets.”
With his Board appointment, Mr. Miller was granted options to get 150,000 common shares of Ceapro, each with an exercise price according to TSX-V regulations. Each grant vests in three equal installments, the first of which vests immediately with the second and third instalments vesting on the first and second anniversaries of the date of grant. Each option is exercisable, once vested, for a period of five years from the date of grant.
About Ceapro Inc.
Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and “active ingredients” from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical, and therapeutics products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions. For more information on Ceapro, please visit the Company’s website at www.ceapro.com.
For more information contact:
Jenene Thomas JTC Team, LLC Investor Relations and Corporate Communications Advisor T (US): +1 (833) 475-8247 E: czo@jtcir.com
Transgenic mouse model reflects latest scientific understanding of disease – toxic oligomers of amyloid create cognitive deficit
TORONTO, Ontario and CAMBRIDGE, Mass., March 02, 2022 (GLOBE NEWSWIRE) — ProMIS Neurosciences, Inc. (TSX: PMN) (OTCQB: ARFXF), a biotechnology company focused on the discovery and development of antibody therapeutics targeting misfolded proteins such as toxic oligomers, announced today that PMN310, its lead antibody therapeutic candidate for Alzheimer’s disease (AD), showed a significant cognitive benefit in a widely recognized animal model of AD.
The APP/L mouse is a “transgenic” model of AD in which human amyloid-beta oligomers lead to cognitive deficits. In this model, treatment with PMN310 which selectively targets toxic oligomers of amyloid-beta preserved memory using the water maze readout, to the extent that the PMN310 treated mice were indistinguishable from “non-transgenic” control mice.
“This model closely aligns with the most current understanding of the biology of Alzheimer’s disease, that small clumps of misfolded amyloid-beta (toxic oligomers) are the most pathogenic species1”, stated Dr. Neil Cashman, ProMIS Chief Scientific Officer. “In our opinion, studies in transgenic mouse models that focus on plaque removal or monomer depletion are not representative of human disease. Indeed, drug candidates that showed plaque reduction in animal models were disappointing in the clinic, and targeting amyloid monomers which worked in these models, universally failed in clinical trials.”
This positive result builds on earlier in vivo data for PMN310. We have previously published2 on the protective activity of PMN310 in a novel object recognition model where toxic oligomers of amyloid-beta are injected in the brain of mice to create a memory deficit. In this model, co-injection of PMN310 prevented the loss of memory caused by toxic oligomers.
Commenting on today’s announcement, ProMIS Chairman and CEO, Eugene Williams stated: “The observed positive outcome with systemic administration of PMN310 is very encouraging, as PMN310 is on track for an IND filing by year end in its initial formulation for intravenous/infusion delivery. In parallel, we are also progressing a potential subcutaneous injection form of PMN310.”
1Cline E et al. 2018. The amyloid- oligomer hypothesis: beginning of the third decade. Journal of Alzheimer’s disease, 64, S567-S610. 2Gibbs E et al. 2019. A rationally designed humanized antibody selective for amyloid beta oligomers in Alzheimer’s disease. Scientific Reports 9: 9870. https://doi.org/10.1038/s41598-019-46306-5
About ProMIS Neurosciences ProMIS Neurosciences, Inc. is a development stage biotechnology company focused on discovering and developing antibody therapeutics selectively targeting toxic misfolded oligomers implicated in the development and progression of neurodegenerative diseases, in particular Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS) and Parkinson’s disease (PD). The Company’s proprietary target discovery engine is based on the use of two complementary computational modeling techniques. The Company applies its molecular dynamics, computational discovery platform -ProMIS™ and Collective Coordinates – to predict novel targets known as Disease Specific Epitopes on the molecular surface of misfolded proteins. ProMIS is headquartered in Toronto, Ontario, with offices in Cambridge, Massachusetts. ProMIS is listed on the Toronto Stock Exchange under the symbol PMN, and on the OTCQB Venture Market under the symbol ARFXF Visit us at www.promisneurosciences.com, follow us on Twitter and LinkedIn
For Investor Relations please contact: Alpine Equity Advisors Nicholas Rigopulos, President nick@alpineequityadv.com Tel. 617 901-0785
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
GLYFADA, Greece, March 02, 2022 (GLOBE NEWSWIRE) — Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) reported today that it has entered into a definitive agreement with a reputable Japanese lender to refinance the loan facilities secured by the 2012-built Capesize M/V Partnership (the “Vessel”) through a sale and leaseback structure.
Pursuant to the terms of the new facility, the Vessel will be sold and chartered back on a bareboat basis for an eight-year period starting at the time of the closing, which is anticipated promptly, within March 2022.
The financing amount is $21.3 million and the applicable interest rate is SOFR + 2.90% per annum. The new interest rate is approximately 210 bps lower as compared to the blended rate of the existing senior and junior loan facilities secured currently by the Vessel. Moreover, $4.3 million of additional liquidity will be released to the Company through the refinancing.
The facility will amortize through quarterly instalments averaging at approximately $590,000. Following the second anniversary of the bareboat charter, the Company has continuous options to repurchase the Vessel. At the end of the 8-year bareboat period, Seanergy has an option to repurchase the Vessel for $2.39 million, which the Company expects to exercise.
Following the consummation of the refinancing, the Company will have no further junior debt outstanding.
Fearnley Securities AS have acted as the Company’s exclusive financial advisor for this financing offering valuable support in the origination, structuring and execution of the transaction.
Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:
“I am pleased to announce another successful refinancing for our Company, consistent with our commitment to optimize the capital structure and further reduce our financing expense. The transaction marks an important milestone for our Company, since, following consummation, there will be no legacy junior debt outstanding.
“The transaction has another strategic element for Seanergy, as we have initiated a valuable relationship with a prominent lender in the Japanese market. In the last 12 months, we have strengthened our footing in the Asian ship-financing market through similar transactions in China, Taiwan and Japan.”
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company’s operating fleet consists of 17 Capesize vessels with an average age of approximately 12 years and aggregate cargo carrying capacity of approximately 3,011,083 dwt.
The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP” and its Class B warrants under “SHIPZ”.
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
The International Energy Agency Takes Steps to Put a Ceiling on Oil Prices
As a proactive step to prevent oil price increases from further dampening global economic growth and household budgets, the International Energy Agency (IEA) has agreed to a coordinated and strategic release of 60 million barrels of its oil stockpiles, according to its press release. Half of the 60 million barrels to be spread to various countries will come from the U.S. Strategic Petroleum Reserve, with the rest from Europe and Asia.
The U.S. portion of the petroleum release represents approximately 5% of the country’s reserves. It is the second time the U.S. has dipped into its petroleum stockpile during the year the Biden administration has occupied the White House.
About the IEA
The IEA is made up of 30
member countries. It was created during the oil crisis in 1974 to help coordinate a collective response to major disruptions in the supply of oil. Over the years, the agency has evolved, but petroleum remains a key aspect of its work. Additionally, the IEA has evolved and expanded significantly, taking an “all-fuels, all-technology” approach. Today the IEA recommends policies that enhance the reliability, affordability, and sustainability of energy. It looks at the full spectrum of issues, including renewables, oil, gas, and coal supply along with demand, energy efficiency, clean energy technologies, electricity systems and markets, access to energy, demand-side management, and others.
The IEA’s decision to tap oil reserves represents its first release since the Libyan civil war eleven years ago. Prior to that, the IEA released oil reserves during the 1991 Gulf War and the 2005 hurricane season that included Hurricane Rita and Katrina.
Market Reaction
Despite the additional supply soon to hit world markets, Brent and WTI crude oil is still surging and at over $100 per barrel the commodity has surpassed its highest price since 2014. Around the world, this increase in energy costs is adding to inflationary pressures.
Historical Meeting
The extraordinary IEA Governing Board meeting was chaired by U.S. Secretary of Energy Jennifer Granholm who is the current Chairman.
The meeting was openly partisan, showing solidarity with the people of Ukraine and their democratically elected government against Russia’s lack of recognition of Ukraine’s sovereignty and territories. According to the press release, the IEA Ministers noted with concern the energy security impacts of the egregious actions by Russia and voiced support for sanctions imposed by the international community in response.
What Else?
The IEA Ministers noted that Russia’s invasion comes against a backdrop of tight global oil markets, heightened price volatility, commercial inventories that are at their lowest level since 2014, and a limited ability of producers to provide additional supply in the short term.
IEA members hold emergency stockpiles of 1.5 billion barrels. The announcement of an initial release of 60 million barrels, or 4% of those stockpiles, is equivalent to 2 million barrels a day for 30 days. The coordinated drawdown is the fourth in the history of the IEA.
Russia is the world’s third-largest oil producer and the largest exporter. Its exports of about 5 million barrels a day of crude oil are roughly 12% of all global trade. Russia’s 2.85 million barrels a day of petroleum products are approximately 15% of global refined product commerce. An estimated 60% of Russia’s oil exports go to Europe and another 20% to China.
IEA Ministers also discussed Europe’s significant reliance on Russian natural gas and the need to look to other suppliers. On Thursday (March 3), the IEA Secretariat will release a 10-Point Plan for how European countries can reduce their reliance on Russia.
Cryptocurrencies with the Help of DAOs Provide a Means to Support Ukraine’s Efforts
More than $22 million worth of cryptocurrencies has been sent in support of the Ukrainian war effort.
Bitcoin, ether, doge, and newly added polkadot, among other digital assets, have become more than an interesting side story to the war – the benefits and drawbacks of crypto are now being tested in a new environment and on the global stage.
Through the use of a blockchain decentralized autonomous organization (DAO), digital wallets believed to be controlled by the country’s authorities are building a literal war chest of crypto to fund the country’s defense. At the same time, the U.S. may be contemplating crypto sanctions against Russia. The DAO serves as a crypto repository and currently serves exclusively for the benefit of Ukraine.
What is a DAO?
A DAO exists on the blockchain for a specific purpose decided by its members. The members own the organization, and all decisions are made by the collective owners as to the purpose and use of the entity. There are various ways to participate in a DAO, usually through the ownership of a token. For example, crypto could be placed in the collective via the purchase of an NFT that demonstrates one is part of the collective.
DAOs operate using smart
contracts. This is code that automatically executes whenever a set of criteria are met. Smart contracts are now available on many blockchains after first being pioneered by Ethereum. The smart contracts establish the DAO’s rules. Those with a stake in a DAO then get voting rights and are influencers to how the organization operates by deciding on or creating new purposes.
DAOs are autonomous and transparent. Since they’re built on open-source blockchains, anyone can view their code. And as a level of safety, anyone can also audit their built-in treasury since the blockchain records all transactions.
Crypto on the Frontline
Twitter has become very powerful in helping to shape world events and provide mass communication where there might otherwise not be a means. So, it shouldn’t be a surprise that Ukraine’s official Twitter account has been sharing its digital wallet addresses so those interested would know how to send financial aid. In total, Ukraine’s government and other organizations have surpassed $22 million through more than 23,000 crypto donations since the start of the Russian invasion.
The funds are reportedly being used for uniforms, food, and artillery.
The U.S. is said to be weighing limits on Russia’s access to bitcoin and other cryptocurrencies as part of its next wave of sanctions, according to the Wall Street Journal. The possible crypto sanctions would likely target exchanges that violate bans against transacting with blacklisted Russian banks and potentially limit Russia’s ability to seek refuge in digital assets. Targeting the country’s access to these digital assets would take sanctions and crypto into uncharted territory. Actually blocking transactions would be challenging, since, by its nature, private digital currencies are designed to exist without borders and for the most part, outside the government-regulated financial system.
More traditional sanctions against Russia are said to be disrupting an already disrupted Russian economy and currency. Bitcoin trading volumes using the ruble and Ukraine’s hryvnia have surged to their highest level in months. This suggests bitcoin could be more attractive in those markets. Crypto exchanges are also being pulled into the conflict, with Ukraine asking them to block Russian customers’ accounts.
Crypto Market
While benefits of digital currency are being showcased with the Russia/Ukraine war, currencies like bitcoin haven’t derived much price benefit. At current exchange rates, bitcoin has approximately $180 billion less in value compared to the beginning of the tensions. The longer-term impact has yet to be seen. Successful sanctions that may include crypto exchanges could hurt the long-term purpose of cryptocurrency. However, the ease at which banks and central banks are avoided while individuals and corporations transmit currency during times of crisis may highlight how critical it can be to financial safety.
Take-Away
Cryptocurrency is being donated to Ukraine to help their defense. The primary donation method has been through a blockchain-based DAO. A transfer of donated assets may not be as efficient or as certain to reach its intended recipient by any other method. Ukraine has been grateful and sends updates through its Twitter account.
Biden’s First State of the Union and Possible Impact on Markets
President Joe Biden has never given a State of the Union address. He’s heard countless SOTUs, and on Wednesday, April 28, 2021, the eve of his 100th day in office, he did speak before a joint session of Congress. But, this is the first official SOTU and accounting of the country’s state of affairs since February 4, 2020.
A lot has changed, including the President that is giving the address. Some of the market and sector-moving expectations from his Build Back Better initiatives seem to be facing a great deal of pushback recently, many seem to have taken a backseat to other events at home and abroad. Will tonight’s speech revive the focus and elevate the industries most likely to benefit?
Big Changes
Since the last State of the Union, the fear of deflation has reversed, the current state is the U.S. is experiencing its worst inflation in 40 years, with the risk of prolonged price increases now the focus of economists and market participants.
Inflation isn’t the only thing that has changed. On February 4, 2020, when the last SOTU was given, the novel coronavirus was so “novel” that it was not yet named. It was later in February The World Health Organization (WHO), named the disease Covid19. A few weeks earlier, the U.S. had seen its first case, but it was not yet impacting life in the States.
Energy
There have been trillions approved to be spent on revamping how the U.S. is fueled. These energy initiatives include increased and eventual total reliance on non-fossil fuel forms of energy. Since early 2021, systems have been organized to help develop what is to be the Build Back Better energy initiatives. These plans contrast sharply with two years ago and are now more in-line with initiatives of other developed nations. Now in the early stages, it has left the U.S. vulnerable to shortages during the transition to cleaner fuels. So vulnerable that last year it became necessary for President Biden to ask OPEC+ to pump more oil to fulfill the needs of the U.S.
At the 2020 SOTU, the U.S. was considered “energy independent” and was a net exporter of petroleum. Change to new technologies has its hiccups, but the current state of the U.S. is that we consume more oil than we produce and we’re reliant on other nations. If in his address he believably reassures commitment to alternative fuels and needed infrastructure spending, clean energy market sectors that have been beaten up this year may move in the direction of previous highs. If his economic plan is instead redefined to play down a green focus, further weakness in the alternative fuels sector could follow.
Pandemic
While the last address did not cover Covid19, as it was not a named disease at the time, this address will provide an opportunity for the country to hear an official White House position on whether it expects the steps taken related to the pandemic are expected to be short-lived. These expectations may contribute to how the market opens on Wednesday and behaves.
Russia/Ukraine
The invasion of Ukraine by Russia is on everyone’s minds. The President will have to address this as well as the risks China relations may present. If his talk is too hawkish, this may rattle markets that involve energy. If too weak, investors may lose confidence in his leadership.
Inflation
In a fact sheet provided on February 28th from the White House, it appears that inflation will get a lot of focus in the address. The speech is likely to talk about manufacturing and making more things in America. Also, moving goods around the country more efficiently and developing a stronger supply chain appears to have been added to his economic plan for the U.S. There could even be talk of reducing the deficit and how working family expenses can be lowered. Also likely to be spoken about is promoting competition to help lower prices to help consumers and stave off some inflation. These are things most American consumers listening at home want to hear.
For investors, getting a sense that inflation will not be persistent, that supply chains are not permanently gunking up the economy, and that money will continue to flow out of Washington in a way that builds or rebuilds infrastructure and provides growth capital to infant industries would set a more bullish tone. It’s a tall order, and worth hoping for.
SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision (NYSE: EVC), a leading global advertising, media and ad-tech solutions company connecting brands to consumers by representing top platforms and publishers, announced that it will release its fourth quarter and full year 2021 financial results after market close on Thursday, March 3, 2022. The Company will host a conference call that day at 4:30 p.m. Eastern Time to discuss the fourth quarter and full year 2021 results.
To access the conference call, please dial (877) 407-9716 (U.S.) or (201) 493-6779 (International) ten minutes prior to the start time. The call will also be available via live webcast on the investor relations portion of the Company’s website located at www.entravision.com.
If you cannot listen to the conference call at its scheduled time, there will be a replay available through Thursday, March 17, 2022 which can be accessed by dialing (844) 512-2921 (U.S.) or (412) 317-6671 (International) and entering the passcode 13726389. The webcast will also be archived on the Company’s website.
About Entravision
Entravision is a leading global advertising, media and ad-tech solutions company connecting brands to consumers by representing top platforms and publishers. Our dynamic portfolio of services includes digital, television and radio offerings. Digital, our largest revenue segment, is comprised of five core businesses: Entravision Digital, Smadex, Cisneros Interactive, MediaDonuts, and 365 Digital. Entravision Digital provides branding and performance digital solutions to clients and small- and mid-size businesses throughout the world. Smadex provides cutting-edge mobile programmatic solutions and demand-side platforms which enable advertisers to effectively execute performance campaigns using machine-learned bidding algorithms. Cisneros Interactive provides unique digital marketing solutions representing major global publishers and ad-tech platforms in Latin America, while also managing the leading digital audio network and solutions player Audio.Ad. MediaDonuts provides digital marketing performance and branding services in the Southeast Asia region and maintains unique commercial partnerships with some of the world’s leading digital publishers and social media platforms. 365 Digital is a digital advertising solutions provider that offers exclusive sales representations with major global platforms in South Africa. Beyond digital, Entravision has 50 television stations and is the largest affiliate group of the Univision and UniMás television networks. Entravision also manages 46 primarily Spanish-language radio stations that feature nationally recognized, Emmy award-winning talent. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about all of our marketing, media, and technology offerings at entravision.com or connect with us on LinkedIn and Facebook.
Christopher T. Young Chief Financial Officer Entravision 310-447-3870
ATLANTA, Feb. 28, 2022 (GLOBE NEWSWIRE) — Gray Television, Inc. (“Gray,” “we,” “us” or “our”) (NYSE: GTN) today announced that its Board of Directors unanimously voted to expand the Board by one seat and elected Lorri McClain as an independent Director to fill that position, effective March 1, 2022. Like all Directors, Ms. McClain’s term will run through our next Annual Meeting.
Lorri McClain
Ms. McClain is currently the President of Reicon Management, Inc., a family investment office, and Chair of the Board of Directors of Anverse Inc., a charitable foundation. She is also a member of the Board of Directors of NSORO, a non-profit organization serving children aging out of foster care.
Ms. McClain previously served as the President and Chief Operating Officer of Prestige Communications, Inc. prior to its sale in 2000 to one of the largest telecommunications companies in the US at the time. Prestige was a privately owned, Georgia-based cable operator with 175,000 subscribers in Georgia, Virginia, North Carolina and Maryland.
She has long been active in non-profit charitable organizations and philanthropic activities. Ms. McClain is a past Chair of the Board of Directors of the Georgia Center for Children and a previous member of the Board of Atlanta’s High Museum of Art, as well as numerous other civic and educational organizations. Ms. McClain is a past President of the Atlanta Chapter of Women in Cable & Telecommunications. She holds a B.S. in Management from Georgia State University and a B.A. in Psychology from the University of the South.
Gray’s Executive Chairman and CEO Hilton H. Howell, Jr., said “We are excited to welcome Lorri to Gray’s Board. She brings a different perspective from business and community involvement that will allow her to make valuable contributions to our Board. After considering a number of well qualified candidates, it is clear that our Nominating and Corporate Governance Committee made an excellent decision, and we look forward to working with her.”
Ms. McClain added “I am thrilled to join Gray’s Board of Directors, which has, through both well managed existing holdings and smart acquisitions, created the ability to broadcast such excellent content to one-third of the households in the United States through its local television stations. I believe this company is exciting and truly visionary in the operations of its broadcast businesses as well as its other innovative media holdings. I am thrilled to be a part of this team.”
About Gray:
Gray Television, Inc. is a multimedia company headquartered in Atlanta, Georgia. We are the nation’s largest owner of top-rated local television stations and digital assets in the United States that serve 113 television markets reaching approximately 36 percent of US television households. This portfolio includes 80 markets with the top-rated television station and 100 markets with the first and/or second highest rated television station. We also own video program companies Raycom Sports, Tupelo Honey, and PowerNation Studios, as well as Third Rail Studios.
CARLSBAD, Calif.–(BUSINESS WIRE)–Mar. 1, 2022– Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today announced that it will report its fourth quarter and full year 2021 financial and operating results on Thursday, March 10, 2022, following the close of the U.S. financial markets. Lineage management will also host a conference call and webcast on Thursday, March 10, 2022, at 4:30 p.m. Eastern Time/ 1:30 p.m. Pacific Time to discuss its fourth quarter and full year 2021 financial and operating results and to provide a business update.
Interested parties may access the conference call by dialing (866) 888-8633 from the U.S. and Canada and (636) 812-6629 from elsewhere outside the U.S. and Canada and should request the “Lineage Cell Therapeutics Call”. A live webcast of the conference call will be available online in the Investors section of Lineage’s website. A replay of the webcast will be available on Lineage’s website for 30 days and a telephone replay will be available through March 18, 2022, by dialing (855) 859-2056 from the U.S. and Canada and (404) 537-3406 from elsewhere outside the U.S. and Canada and entering conference ID number 7718167.
About Lineage Cell Therapeutics, Inc.
Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel cell therapies for unmet medical needs. Lineage’s programs are based on its robust proprietary cell-based therapy platform and associated in-house development and manufacturing capabilities. With this platform Lineage develops and manufactures specialized, terminally differentiated human cells from its pluripotent and progenitor cell starting materials. These differentiated cells are developed to either replace or support cells that are dysfunctional or absent due to degenerative disease or traumatic injury or administered as a means of helping the body mount an effective immune response to cancer. Lineage’s clinical programs are in markets with billion dollar opportunities and include three allogeneic (“off-the-shelf”) product candidates: (i) OpRegen®, a retinal pigment epithelium transplant therapy in Phase 1/2a development for the treatment of dry age-related macular degeneration, which is now being developed under a worldwide collaboration with Roche and Genentech, a member of the Roche Group; (ii) OPC1, an oligodendrocyte progenitor cell therapy in Phase 1/2a development for the treatment of acute spinal cord injuries; and (iii) VAC2, an allogeneic dendritic cell therapy produced from Lineage’s VAC technology platform for immuno-oncology and infectious disease, currently in Phase 1 clinical development for the treatment of non-small cell lung cancer. For more information, please visit www.lineagecell.com or follow the Company on Twitter @LineageCell.
Lineage Cell Therapeutics, Inc. IR Ioana C. Hone (ir@lineagecell.com) (442) 287-8963
NEW YORK, March 1, 2022 /CNW/ – Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) today announced the Company’s participation in the following investor events in March 2022:
March 3rd – KBW Fintech Payments Conference March 7th – JMP Technology Conference March 10th – Wolfe FinTech Forum March 24th – Ladenburg Thalmann Special Crypto Expo 2022 March 28th – Bank of America Virtual Crypto Mining Conference
About Voyager Digital Ltd. Publicly traded Voyager Digital Ltd.’s (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing, 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 85 different cryptocurrency assets using its easy-to-use mobile application and earn rewards up to 12% annually on more than 35 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides cryptocurrency 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.
TORONTO, March 01, 2022 (GLOBE NEWSWIRE) — FenixOro Gold Corp. (CSE: FENX; OTCQB: FDVXF; Frankfurt: 8FD) is pleased to provide commentary on recent changes to Colombian law. The Ministry of Environment and Sustainable Development has passed a resolution that amends Ley Segunda (Law 2) of 1959 and effectively removes the requirement for a lengthy change-of-land-use application process. While the changes do not affect FenixOro directly in the short term, the company fully supports these changes and believes they will have a positive impact on responsible mining development while continuing to encourage sound environmental practices in the country.
Paul Harris, Director of the Colombia Gold Symposium in Medellin and ColombiaGold.co, commented: “This development is positive and something that exploration companies in Colombia, and other sectors such as infrastructure, have awaited for many years. It will facilitate the discovery and definition of new deposits of copper and gold in areas where hitherto explorers were unable to drill. Importantly, it does not reduce or otherwise circumvent the environmental permitting requirements to develop a project. Colombia has some of the most exacting environmental standards in the hemisphere, and this ensures that future project developments still have to be made according to international best practice.”
FenixOro CEO John Carlesso stated: “We have always received tremendous support for the Abriaqui gold project from all levels of government in Colombia, and we believe the amendment to Law 2 is a reflection of the commitment to foster economic growth through responsible and environmentally sound mineral resource development. Together with the major infrastructure improvement program currently underway throughout the country, which includes significant upgrades to highways and bridges on the route between Medellin and the Abriaqui project, this signals a willingness on the part of the government to make the permitting process more streamlined and transparent. We believe that in the eyes of investors and major mining companies, Colombia will continue to be seen as a stable jurisdiction for investment for many years to come.”
The Company also announces that it has granted stock options to acquire a total of 3,000,000 common shares of the Company to certain Officers, Directors and Consultants of the Company. The options are exercisable at a price of $0.26 per share and expire five years from the date of grant.
About FenixOro Gold Corp. FenixOro Gold Corp is a Canadian company focused on acquiring and exploring gold projects with world class exploration potential in the most prolific gold producing regions of Colombia. FenixOro’s flagship property, the Abriaqui project, is the closest project to Continental Gold’s Buritica project. It is located 15 km to the west in Antioquia State at the northern end of the Mid-Cauca gold belt, a geological trend which has seen multiple large gold discoveries in the past 10 years including Buritica and Anglo Gold’s Nuevo Chaquiro and La Colosa. As documented in “NI 43-101 Technical Report on the Abriaqui project Antioquia State, Colombia” (December 5, 2019), the geological characteristics of Abriaqui and Buritica are similar. Since the preparation of this report a Phase 1 drilling program has been completed at Abriaqui resulting in a significant discovery of a high grade, “Buritica style” gold deposit. A Phase 2 drilling program has recently commenced.
FenixOro’s VP of Exploration, Stuart Moller, led the discovery team at Buritica for Continental Gold in 2007-2011. At the time of its latest public report, the Buritica Mine contains measured plus indicated resources of 5.32 million ounces of gold (16.02 Mt grading 10.32 g/t) plus a 6.02 million ounce inferred resource (21.87 Mt grading 8.56 g/t) for a total of 11.34 million ounces of gold resources Buritica began formal production in November 2020 and has expected annual average production of 250,000 ounces at an all-in sustaining cost of approximately US$600 per ounce. Resources, cost and production data are taken from Continental Gold’s “NI 43-101 Buritica Mineral Resource 2019-01, Antioquia, Colombia, 18 March, 2019”). Continental Gold was recently the subject of a takeover by Zijin Mining in an all-cash transaction valued at C$1.4 billion.
Cautionary Statement on Forward-Looking Information This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of FenixOro’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “will”, “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to information concerning the closing of the Private Placement, and Abriaqui. Although FenixOro believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that Abriaqui will produce viable quantities of minerals, that the Company will pursue Abriaqui or that any mineral deposits will be found, or that the Private Placement will close. The forward-looking information and forward-looking statements contained in this news release are made as of the date of this press release, and FenixOro does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.
