Release – Bunker Hill Announces $15 Million Convertible Debt Financing

Posted on June 21, 2022 by Admin

Bunker Hill Announces Appointment Of General Manager And Secures Mining Contractor

News and Market Data on Bunker Hill Mining

Bunker Hill Announces $15 Million Convertible Debt Financing

Bunker Hill to Host Live Interactive 6ix Summit on Wednesday, June 22 @ 2:00pm ET / 11:00am PT

TORONTO, June 20, 2022 – Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR; OTCQB: BHLL) is pleased to announce the execution and closing of a new $15 million convertible debenture financing (the “Series 2 Convertible Debentures”) with Sprott Private Resources Streaming & Royalty Corp. (“SRSR” or “Sprott”). All figures in this news release are in US dollars unless otherwise stated.

Sam Ash, CEO, stated “We are very pleased to announce this new $15 million financing, representing an increase in our project finance package with Sprott to $66 million. Together with our recent equity raise, this materially improves our working capital position, enables us to meet our financial assurance obligations with the EPA, and funds several key workstreams over the coming months including completion of the underground decline, demobilization of the Pend Oreille mill, and further engineering optimization in preparation for the mine restart.”

Investors are invited to register for the live interactive 6ix Summit at:

CONVERTIBLE DEBENTURE
FINANCING

The Series 2 Convertible Debentures bear interest at an annual rate of 10.5%, payable in cash or shares at the Company’s option, and mature on March 31, 2025. Repayments of $2 million shall be made at the end of each calendar quarter, starting on 30 June 2024, with the remaining $9 million due on March 31, 2025. The Series 2 Convertible Debentures are convertible into shares of the Company at a share price of CAD 0.29 per share until the maturity date. The Company may elect to re-pay the Convertible Debenture early; if SRSR elects not to exercise its conversion option at such time, a minimum of 12 months of interest would apply. The Series 2 Convertible Debentures will be secured by the same security package that has been put in place to secure the $8 million Royalty Convertible Debenture and the aggregate $6 million Convertible Debentures (the “Series 1 Convertible Debentures”) that closed in January 2022.

The parties have also agreed to a number of changes to the previously announced project finance package of up to $51 million (of which $14 million has been advanced to date), consisting of the Royalty Convertible Debenture, Series 1 Convertible Debentures, and the Stream. Firstly, the maturity dates of the Royalty Convertible Debenture and Series 1 Convertible Debentures have been extended to March 31, 2025 (previously July 7, 2023). As previously envisaged, the Royalty Convertible Debenture will convert to a 1.85% life of mine royalty or be repaid when the Stream is advanced. However, in the event of conversion, the Company will enter into a Royalty Put Option entitling the royalty holder to resell the royalty to the Company for $8 million upon default under the Series 1 Convertible Debentures or Series 2 Convertible Debentures until such time that the Series 1 Convertible Debentures and Series 2 Convertible Debentures are paid in full. The Series 1 Convertible Debentures will remain outstanding until March 31, 2025, regardless of whether the Stream is advanced, unless the Company elects to exercise its option of early repayment. Lastly, the minimum quantity of metal delivered under the Stream, if advanced, will increase by 10% relative to amounts announced in the news release of December 20, 2021.

In light of the Series 2 Convertible Debenture financing, the previously permitted additional senior secured indebtedness of up to $15 million for project finance has been removed. However, the Company and Sprott have agreed that the Company is permitted to sell an additional $5 million of the Series 2 Convertible Debentures to other investors until August 1, 2022.

The net proceeds of the financing will be primarily used to satisfy the Company’s financial assurance obligations with the US Environmental Protection Agency (“EPA”) and the advancement of mine restart activities, including the completion of the underground decline, demobilization of the Pend Oreille mill, and advancement of EPCM activities in anticipation of mill construction in the fourth quarter of 2022.

NEXT STEPS

Additional optimization opportunities have been identified as technical work on the Prefeasibility Study (“PFS”) has advanced. In order to incorporate these into the PFS, technical work is continuing and the PFS is now expected to be completed later in the third quarter of 2022. The advancement of the Stream is also expected to take place at approximately that time. While this additional technical work is in progress, development drifting will continue with an expected breakthrough into the internal ramp between the 6 and 8 levels to occur in September 2022. Relocation of the Pend Oreille Mill will continue throughout the summer with a key milestone being the disassembly and transport of the primary ball mills in August.

RELATED PARTY
TRANSACTIONS

The financing transactions described in this press release (the “Transactions”) constitute related party transactions pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special
Transactions (“MI 61-101”). In consideration of the financial circumstances of the Company and a determination by the directors, all of whom are considered independent as determined pursuant to Part 7 of MI 61-101, the Company intends to rely upon the “financial hardship” exemptions from the requirements to obtain a formal valuation and minority shareholder approval in Sections 5.5(g) and 5.7(e) of MI 61-101 respectively. The Company will also file a material change report on SEDAR (www.sedar.com). The material change report will be filed less than 21 days prior to the closing of the Transactions due to the Company’s immediate need for financing.

ABOUT BUNKER HILL MINING
CORP.

Under new Idaho-based leadership the Bunker Hill Mining Corp, intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR databases.

For additional
information contact:

David Wiens, CFA
CFO & Corporate Secretary
+1 208 370 3665
ir@bunkerhillmining.com

CAUTIONARY STATEMENTS

Certain
statements in this news release are forward-looking and involve a number of
risks and uncertainties. Such forward-looking statements are within the
meaning of that term in Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
as well as within the meaning of the phrase ‘forward-looking information’ in
the Canadian Securities Administrators’ National Instrument 51-102 –
Continuous Disclosure Obligations. Forward-looking statements are not
comprised of historical facts. Forward-looking statements include estimates
and statements that describe the Company’s future plans, objectives or goals,
including words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be identified by
such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”,
“could”, “would”, “will”, or “plan”. Since forward-looking statements are
based on assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although these
statements are based on information currently available to the Company, the
Company provides no assurance that actual results will meet management’s
expectations. Risks, uncertainties and other factors involved with
forward-looking information could cause actual events, results, performance,
prospects and opportunities to differ materially from those expressed or
implied by such forward-looking information. Forward looking information in
this news release includes, but is not limited to, the Company’s intentions
regarding: its objectives, goals or future plans and statements; closing the
Stream as described herein with SRSR; the financing package with SRSR being
sufficient for the purposes described herein; the Company’s ability to secure
additional financing, whether dilutive or non-dilutive; the Company’s ability
to progress detailed engineering of the Bunker Hill Mine; the Company’s
ability to complete the underground decline, the demobilization of the Pend
Oreille mill, and further engineering optimization in preparation for the
mine restart; the Company’s ability to restart production at the Bunker Hill
Mine; and the completion of a pre-feasibility study and the timing thereof.
Factors that could cause actual results to differ materially from such
forward-looking information include, but are not limited to: the ability 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; failure to identify mineral
resources; failure to convert estimated mineral resources to reserves; the
inability to complete a feasibility study which recommends a production
decision; the preliminary nature of metallurgical test results; the Company’s
ability to restart and develop the Bunker Hill Mine and the risks of not
basing a production decision on a feasibility study of mineral reserves
demonstrating economic and technical viability, resulting in increased
uncertainty due to multiple technical and economic risks of failure which are
associated with this production decision including, among others, areas that
are analyzed in more detail in a feasibility study, such as applying economic
analysis to resources and reserves, more detailed metallurgy and a number of
specialized studies in areas such as mining and recovery methods, market
analysis, and environmental and community impacts and, as a result, there may
be an increased uncertainty of achieving any particular level of recovery of
minerals or the cost of such recovery, including increased risks associated
with developing a commercially mineable deposit with no guarantee that
production will begin as anticipated or at all or that anticipated production
costs will be achieved; failure to commence production would have a material
adverse impact on the Company’s ability to generate revenue and cash flow to
fund operations; failure to achieve the anticipated production costs would
have a material adverse impact on the Company’s cash flow and future
profitability; delays in obtaining or failures to obtain required
governmental, environmental or other project approvals; political risks;
changes in equity markets; uncertainties relating to the availability and
costs of financing needed in the future; the inability of the Company to
budget and manage its liquidity in light of the failure to obtain additional
financing, including the ability of the Company to complete the payments to
the U.S. EPA pursuant to the terms of the agreement to acquire the Bunker
Hill Mine; inflation; changes in exchange rates; fluctuations in commodity
prices; delays in the development of projects; capital, operating and
reclamation costs varying significantly from estimates and the other risks
involved in the mineral exploration and development industry; the cost,
timing and ability to implement ESG initiatives which may not be technically
successful or economically viable; and those risks set out in the
Company’s public documents filed on SEDAR. Although the Company believes that
the assumptions and factors used in preparing the forward-looking information
in this news release are reasonable, undue reliance should not be placed on
such information, which only applies as of the date of this news release, and
no assurance can be given that such events will occur in the disclosed time
frames or at all. The Company disclaims any intention or obligation to update
or revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by law.
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.

Contact Info:

Bunker Hill Mining Corp.
82 Richmond St East
Toronto, Ontario
M5C 1P1
+1.519.871.3998

Release – Tonix Pharmaceuticals Announces Publication of Paper in Pharmaceutics on the Enhancing Effect That Magnesium Contributes to in vivo Intranasal Oxytocin Analgesia

Posted on June 21, 2022 by Admin

Tonix Pharmaceuticals Announces
Publication of Paper in Pharmaceutics on the Enhancing Effect That Magnesium
Contributes to in vivo Intranasal Oxytocin Analgesia

June 21, 2022 7:00am EDT

Intranasal Oxytocin with
Magnesium Demonstrated Augmented Craniofacial Analgesia in an Animal Model

Enhanced Effect of Mg²⁺ is the Core Patented Technology of TNX-1900 for Migraine

TNX-2900 Orphan Drug Designated
Product for Prader-Willi Syndrome Also Contains Mg²⁺

Issued Patents Expected to
Provide Exclusivity Until 2036

CHATHAM, N.J., June 21, 2022 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP), a clinical-stage biopharmaceutical company, announced the publication of a paper, entitled “Impact of Magnesium on Oxytocin Receptor Function,” in the journal
Pharmaceutics, that described results from a research team led by Professor David Yeomans¹. The paper includes data showing the enhancing effects of magnesium (Mg²⁺) on the activity of intranasal oxytocin in an animal model of craniofacial pain. The Mg²⁺ enhanced formulation of intranasal oxytocin is the basis for the Company’s TNX-1900² drug candidate in development to prevent migraine headaches in chronic migraineurs, and TNX-2900² which is in development to treat hyperphagia (over-eating) in adolescent and young adult patients with Prader-Willi syndrome. Professor Yeomans was the scientific founder of Trigemina, Inc. from which Tonix acquired rights to the Mg²⁺enhanced oxytocin technology. Professor Yeomans is a consultant to Tonix and the research described in the paper was funded in part by Tonix.

“This new paper further evidences the important role Mg²⁺ plays in the effect of oxytocin on pain reduction both in vitro and in vivo in an animal model of head pain,” said Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals. “Prior to this work, studies of intranasal oxytocin on pain yielded inconsistent results because the analgesic effect of oxytocin decreased with higher doses, a phenomenon called ‘high dose inhibition’ or colloquially, as an ‘inverted U’ shaped dose response. Professor Yeomans and his team have shown that adding Mg²⁺ to intranasal oxytocin reduces or eliminates the ‘high dose inhibition’, such that analgesia increases with higher doses of oxytocin. Consequently, we expect that the Mg²⁺ enhanced formulation of intranasal oxytocin in TNX-1900 and TNX-2900 may provide consistent effects to the extent that the Mg²⁺ component of the formulation reduces or eliminates the high dose inhibition and may also allow for using higher oxytocin doses.”

Professor Yeomans said, “Mg²⁺ levels modulate the affinity of oxytocin receptor for oxytocin
in
vitro. We have now confirmed that at above physiological concentrations Mg²⁺ increases the activity of oxytocin for oxytocin receptor in vivo. Intranasal oxytocin with Mg²⁺ demonstrated augmented craniofacial analgesia in animal models. Critically, we have also demonstrated that, under test conditions, oxytocin has an ‘inverted U’ shaped dose response which Mg²⁺ can overcome, potentially allowing for the use of higher oxytocin doses. The potential clinical significance of these observations is that the formulation of oxytocin plus Mg²⁺ in Tonix’s TNX-1900 and TNX-2900 has the potential to enhance oxytocin efficacy for pain as well as for other uses.”

“Tonix is excited to develop Mg²⁺-enhanced formulation of intranasal oxytocin as a non-addictive treatment for migraine and craniofacial pain and for the treatment of Prader-Willi Syndrome,” added Dr. Lederman. “TNX-1900 will enter Phase 2 for prophylaxis of chronic migraine in the second half of 2022 and TNX-2900 is in development for treating hyperphagia in Prader Willi syndrome. The preclinical data that we have seen to date are promising and show that oxytocin, a natural hormone, is capable of blocking the release of the neurotransmitter calcitonin gene-related peptide (CGRP) in the brain coverings and trigeminal ganglia, thus potentially modulating a key step in the causation of migraine. It has been shown that intranasally delivered oxytocin selectively reaches the trigeminal ganglia with low systemic absorption. Overall, we believe that TNX-1900 has the potential to be a non-addicting, non-constipating and easy to administer alternative to opioids to treat migraine and craniofacial pain. We believe targeted delivery of oxytocin could translate into selective blockade of CGRP release in the trigeminal ganglion and not throughout the body, which could be a potential safety advantage over systemic CGRP inhibition. In addition, daily dosing is more quickly reversible, in contrast to monthly or quarterly dosing, giving physicians and their patients greater control.”

About Intranasal Oxytocin

Oxytocin is a naturally occurring human hormone that acts as a neurotransmitter in the brain. Oxytocin has no recognized addiction potential. Oxytocin is approved by the U.S. Food and Drug Administration (FDA) as Pitocin^®3, an intravenous infusion or intramuscular injection drug, for use in pregnant women to induce labor. An intranasal form of oxytocin was marketed in the U.S. by Novartis to assist in the production of breast milk as Syntocinon^®4 (oxytocin nasal 40 units/ml), but the product was discontinued, and the New Drug Application (NDA) has been withdrawn.

About Migraine

Migraine is a neurological condition that manifests in throbbing headache, often on one side of the head, that lasts at least four hours. It can also be accompanied by nausea, vomiting, visual disturbances, and sensitivity to bright light, strong smells, and loud noises⁵. Epidemiological studies indicate that globally, approximately 1.2 billion individuals suffer from migraines annually.⁶ Approximately 39 million Americans suffer from migraines and among these individuals, approximately four million experience chronic migraines (15 or more headache days per month).⁶

About TNX-1900²

TNX-1900 (intranasal potentiated oxytocin) is a proprietary formulation of oxytocin and Mg²⁺ in development as a candidate for prophylaxis of chronic migraine and for the treatment of craniofacial pain, insulin resistance and related conditions. In 2020, TNX-1900 was acquired from Trigemina, Inc. TNX-1900 is a drug-device combination product, based on an intranasal actuator device that delivers oxytocin and Mg²⁺ into the nose. It has been observed that low oxytocin levels in the body can lead to increase in migraine headache frequency, and that increased oxytocin levels can relieve migraine headaches. Certain other chronic pain conditions are also associated with decreased oxytocin levels. Migraine attacks are caused, in part, by the activity of pain-sensing trigeminal nerve cells which, when activated, release of CGRP which binds to receptors on other nerve cells and starts a cascade of events that is believed to result in headache. Oxytocin when delivered via the nasal route, concentrates in the trigeminal system⁸ resulting in binding of oxytocin to receptors on neurons in the trigeminal system, inhibiting transmission of pain signals and the release of CGRP.⁹ Blocking CGRP release is a distinct mechanism compared with CGRP antagonist and anti-CGRP antibody drugs, which block the binding of CGRP to its receptor. With TNX-1900, the addition of magnesium to the oxytocin formulation enhances oxytocin receptor binding¹⁰ as well as its effects on trigeminal neurons and craniofacial analgesic effects in animal models¹. Intranasal oxytocin has been well tolerated in several clinical trials in both adults and children
¹¹. Targeted nasal delivery results in low systemic exposure and lower risk of non-nervous system, off-target effects which could potentially occur with systemic CGRP antagonists such as anti-CGRP antibodies¹². For example, CGRP has roles in dilating blood vessels in response to ischemia, including in the heart. Tonix has licensed technology from the University of Geneva to use TNX-1900 for the treatment of insulin resistance and related conditions.

About Prader
Willi Syndrome

Prader-Willi syndrome is a rare genetic disorder of failure to thrive in infancy and uncontrolled appetite and obesity in childhood and adulthood with no approved treatments available that occurs in approximately one in 15,000 births. Prader-Willi syndrome results in physical, mental and behavioral problems. A key feature of Prader-Willi syndrome in infants is a lack of suckling and poor muscle strength which leads to malnutrition and failure to thrive. However, paradoxically in children and adults, the key feature of Prader-Willi syndrome is a constant sense of hunger (hyperphagia), which leads to severe obesity. Intranasal oxytocin improves suckling in newborn animals but also suppresses feeding behaviors in adult animal models.

About TNX-2900⁵

TNX-2900 (intranasal potentiated oxytocin) is a proprietary formulation of oxytocin and Mg²⁺ in development as a candidate for treatment of hyperphagia in Prader-Willi syndrome. TNX-2900 is a drug-device combination product, based on an intranasal actuator device that delivers oxytocin and Mg² into the nose. Tonix licensed technology to treat Prader Willi Syndrome and non-organic failure to thrive disease from Inserm (the French National Institute of Health and Medical Research). The licensing agreement was negotiated and signed by Inserm Transfert, the private subsidiary of Inserm, on behalf of Inserm, Aix-Marseille Université and Centre Hospitalier Universitaire of Toulouse. The co-exclusive license allows Tonix to expand its intranasal potentiated oxytocin development program to the treatment of Prader-Willi syndrome. The patents covering the technology are expected to provide market exclusivity for the co-licensees in the U.S. and Europe through 2031, which exclusivity could be extended after marketing authorization by a Supplemental Protection Certificate in Europe or a Patent Term Extension in the U.S., independent of other Tonix-held patents covering the formulation and oxytocin potentiation technologies for intranasal administration.

¹Bharadwaj VN, et al., Pharmaceutics. 2022; 14(5):1105. https://doi.org/10.3390/pharmaceutics14051105
²TNX-1900 and TNX-2900 are investigational new drugs and have not been approved for any indication.

³Pitocin^® is a trademark of Par Pharmaceutical, Inc.
⁴Syntocinon^® is a trademark of BGP Products Operations GmbH.
⁵https://www.mayoclinic.org/diseases-conditions/migraine-headache/symptoms-causes/syc-20360201
⁶Burch et al., Migraine:
Epidemiology, Burden, and Comorbidity, Neurol Clin 37 (2019) 631–649.

⁷Yeomans, DC et al. 2017. US patent US2017368095.
⁸Yeomans DC, et al. Transl Psychiatry. 2021. 11(1):388.
⁹Tzabazis A, et al. Cephalalgia. 2016. 36(10):943-50.
¹⁰Antoni FA and Chadio SE. Biochem J. 1989. 257(2):611-4.

¹¹Cai Q, et al., Psychiatry Clin Neurosci. 2018. Mar;72(3):140-151.
¹²MaassenVanDenBrink A, et al. Trends Pharmacol Sci. 2016. 37(9):779-788.

About Tonix
Pharmaceuticals Holding Corp.*

Tonix is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing therapeutics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio is composed of central nervous system (CNS), rare disease, immunology and infectious disease product candidates. Tonix’s CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL (cyclobenzaprine HCl sublingual tablet), is in mid-Phase 3 development for the management of fibromyalgia with a new Phase 3 study launched in the second quarter of 2022 and interim data expected in the first quarter of 2023. TNX-102 SL is also being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix expects to initiate a Phase 2 study in Long COVID in the third quarter of 2022. TNX-1300 (cocaine esterase) is a biologic designed to treat cocaine intoxication that is Phase 2 ready and has been granted Breakthrough Therapy Designation by the FDA. TNX-1900 (intranasal potentiated oxytocin), a small molecule in development for chronic migraine, is expected to enter the clinic with a Phase 2 study in the second half of 2022. Tonix’s rare disease portfolio includes TNX-2900 (intranasal potentiated oxytocin) for the treatment of Prader-Willi syndrome. TNX-2900 has been granted Orphan-Drug Designation by the FDA. Tonix’s immunology portfolio includes biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500 which is a humanized monoclonal antibody targeting CD40-ligand being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. A Phase 1 study of TNX-1500 is expected to be initiated in the second half of 2022. Tonix’s infectious disease pipeline consists of a vaccine in development to prevent monkeypox and smallpox called TNX-801, next-generation vaccines to prevent COVID-19, and a platform to make fully human monoclonal antibodies to treat COVID-19. Tonix’s lead vaccine candidates for COVID-19 are TNX-1840 and TNX-1850, which are live virus vaccines based on Tonix’s recombinant pox vector (RPV) live virus vaccine platform.

^*All of Tonix’s product candidates are investigational new drugs
or biologics and none have been approved for any indication

This press release and further information about Tonix can be found at www.tonixpharma.com.

Forward
Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Tonix’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; delays and uncertainties caused by the global COVID-19 pandemic; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission (the “SEC”) on March 14, 2022, and periodic reports filed with the SEC on or after the date thereof. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.

Contacts

Jessica Morris (corporate)
Tonix Pharmaceuticals
investor.relations@tonixpharma.com
(862) 799-8599

Olipriya Das, Ph.D. (media)
Russo Partners
Olipriya.Das@russopartnersllc.com
(646) 942-5588

Peter Vozzo (investors)
ICR Westwicke
peter.vozzo@westwicke.com
(443) 213-0505

Two Main Types of Cryptocurrency Scams

Posted on June 21, 2022 by Admin



Image Credit: Mikhail Nilov (Pexels)

Insulating Your Portfolio from Cryptocurrency Scams

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It was written by and represents the research-based opinions of Yaniv Hanoch, Associate Professor in Risk Management, University of Southampton and Stacey Wood, Professor of Psychology, Scripps College..

When one of our students told us they were going to drop out of college in August 2021, it wasn’t the first time we’d heard of someone ending their studies prematurely.

What was new, though, was the reason. The student had become a victim of a cryptocurrency scam and had lost all their money – including a bank loan – leaving them not just broke, but in debt. The experience was financially and psychologically traumatic, to say the least.

This student, unfortunately, is not alone. Currently there are hundreds of millions of cryptocurrency owners, with estimates predicting further rapid growth. As the number of people owning cryptocurrencies has increased, so has the number of scam victims.

We study behavioral economics and psychology – and recently published a book about the rising problem of fraud, scams and financial abuse. There are reasons why cryptocurrency scams are so prevalent. And there are steps you can take to reduce your chances of becoming a victim.

Crypto Takes Off

Scams are not a recent phenomenon, with stories about them dating back to biblical times. What has fundamentally changed is the ease by which scammers can reach millions, if not billions, of individuals with a press of a button. The internet and other technologies have simply changed the rules of the game, with cryptocurrencies coming to epitomize the leading edge of these new cybercrime opportunities.

Cryptocurrencies – which are decentralized, digital currencies that use cryptography to create anonymous transactions – were originally driven by “cypherpunks,” individuals concerned with privacy. But they have expanded to capture the minds and pockets of everyday people and criminals alike, especially during the COVID-19 pandemic, when the price of various cryptocurrencies shot up and cryptocurrencies became more mainstream. Scammers capitalized on their popularity. The pandemic also caused a disruption to mainstream business, leading to greater reliance on alternatives such as cryptocurrencies.

A January 2022 report by Chainanalysis, a blockchain data platform, suggests in 2021 close to US$14 billion was scammed from investors using cryptocurrencies.

For example, in 2021, two brothers from South Africa managed to defraud investors of $3.6 billion from a cryptocurrency investment platform. In February 2022, the FBI announced it had arrested a couple who used a fake cryptocurrency platform to defraud investors of another $3.6 billion

You might wonder how they did it.

Fake Investments

There are two main types of cryptocurrency scams that tend to target different populations.

One targets cryptocurrency investors, who tend to be active traders holding risky portfolios. They are mostly younger investors, under 35, who earn high incomes, are well educated and work in engineering, finance or IT. In these types of frauds, scammers create fake coins or fake exchanges.

A recent example is SQUID, a cryptocurrency coin named after the TV drama “Squid Game.” After the new coin skyrocketed in price, its creators simply disappeared with the money.

A variation on this scam involves enticing investors to be among the first to purchase a new cryptocurrency – a process called an initial coin offering – with promises of large and fast returns. But unlike the SQUID offering, no coins are ever issued, and would-be investors are left empty-handed. In fact, many initial coin offerings turn out to be fake, but because of the complex and evolving nature of these new coins and technologies, even educated, experienced investors can be fooled.

As with all risky financial ventures, anyone considering buying cryptocurrency should follow the age-old advice to thoroughly research the offer. Who is behind the offering? What is known about the company? Is a white paper, an informational document issued by a company outlining the features of its product, available?

In the SQUID case, one warning sign was that investors who had bought the coins were unable to sell them. The SQUID website was also riddled with grammatical errors, which is typical of many scams.

Shakedown Payments

The second basic type of cryptocurrency scam simply uses cryptocurrency as the payment method to transfer funds from victims to scammers. All ages and demographics can be targets. These include ransomware cases, romance scams, computer repair scams, sextortion cases, Ponzi schemes and the like. Scammers are simply capitalizing on the anonymous nature of cryptocurrencies to hide their identities and evade consequences.

In the recent past, scammers would request wire transfers or gift cards to receive money – as they are irreversible, anonymous and untraceable. However, such payment methods do require potential victims to leave their homes, where they might encounter a third party who can intervene and possibly stop them. Crypto, on the other hand, can be purchased from anywhere at any time.

Indeed, Bitcoin has become the most common currency requested in ransomware cases, being demanded in close to 98% of cases. According to the U.K. National Cyber Security Center, sextortion scams often request individuals to pay in Bitcoin and other cryptocurrencies. Romance scams targeting younger adults are increasingly using cryptocurrency as part of the scam.

If someone is asking you to transfer money to them via cryptocurrency, you should see a giant red flag.

The Wild West

In the field of financial exploitation, more work has been done to study and educate elderly scam victims, because of the high levels of vulnerability in this group. Research has identified common traits that make someone especially vulnerable to scam solicitations. They include differences in cognitive ability, education, risk-taking and self-control.

Of course, younger adults can also be vulnerable and indeed are becoming victims, too. There is a clear need to broaden education campaigns to include all age groups, including young, educated, well-off investors. We believe authorities need to step up and employ new methods of protection. For example, the regulations that currently apply to financial advice and products could be extended to the cryptocurrency environment. Data scientists also need to better track and trace fraudulent activities.

Cryptocurrency scams are especially painful because the probability of retrieving lost funds is close to zero. For now, cryptocurrencies have no oversight. They are simply the Wild West of the financial world.

Suggested Reading

The Synergistic Effects of Crypto on Cannabis Businesses

Cowboys and Cryptocurrency

Expanded Blockchain Adoption and Adaptation in 2022

Investors Always Have to Play the Cards They’re Dealt

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Release – Allegiant Commences Core Drilling Program at Eastside

Posted on June 21, 2022 by Admin

Allegiant Commences Core Drilling Program at Eastside

Research, News, and Market Data on Allegiant Gold

Reno, Nevada /June 21, 2022 – Allegiant Gold Ltd. (“Allegiant”
or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the commencement of our diamond core drilling program (“Core”) at Eastside which will consist of 4,000+ metres. In addition, the Company has recently completed the previously announced 6,700 metre reverse-circulation (“RC”) drilling program at Eastside.

Commencement of Diamond Core Drill Program
Allegiant expects to drill 7-9 diamond core holes in this program with an average depth of 600 metres for a total of 4,000-5,000 metres. The hole locations and design were jointly selected together with the exploration team at Kinross. The Core holes will be located in the High Grade Zone (“HGZ”) discovered during 2021 drill program completed within the Original Pit Zone (“OPZ”) at Eastside that yielded the following results:

Hole 243 included 2.55 g/t Au over 147.8 metres (3.17 g/t
Au over 117.3m)
Hole 239 included 111.3m of 1.45 g/t Au including 3.1
metres of 39 g/t Au at the bottom of the hole.
Hole 244 included 76 metres of mineralization with best intercept being 6.1m
of 1.48 g/t Au

Hole 245 included 15.2 metres of 3.4 g/t Au from relatively shallow depths (177m)

MAP 1: DRILL TARGETS
https://allegiantgold.com/site/assets/files/2209/auau_eastside_2021-2022_drill_holes.jpg

Completion of RC Program at Eastside
In June 2022, Allegiant completed a 32-hole, 6,703 metre drill program designed to test new exploration targets at Eastside focusing on the East Pediment (21 holes) and the West Anomaly (11 holes). The targets lie to the east and west of the OPZ and were based on geophysical and geochemical anomalies. Drilling was conducted by Boart Longyear using a Foremost MPD 1500, track-mounted rig. Given the current high demand for assays in the Western U.S., the Company is still awaiting the results from this program, but they will be released upon receipt and evaluation.

Peter Gianulis, CEO of Allegiant Gold, commented: “We are excited to have started our much-anticipated diamond core drilling to follow up on our successful drill program last year that led to the discovery of the HGZ. We also look forward to the results of our recently completed RC drill program and have tentatively scheduled the return of our RC rig for October 2022 in order to continue drilling additional targets based on assays. Together with the Core program, we would expect to be drilling for the remainder of this year.”

QUALIFIED PERSON
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical content of this press release.

ABOUT ALLEGIANT
Allegiant owns 100% of 10 highly-prospective gold projects in the United States, seven of which are located in the mining-friendly jurisdiction of Nevada. Three of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

ON BEHALF OF THE BOARD
Peter Gianulis
CEO

For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364

ir@allegiantgold.com

Allegiant Gold Ltd.’s (“Allegiant”) exploration plans for its gold
exploration properties, the drill program at Allegiant’s Eastside project, the
preparation and publication of an updated resource estimate in respect of the
Original Zone at the Eastside project, Allegiant’s future exploration and
development plans, including anticipated costs and timing thereof; Allegiant’s
plans for growth through exploration activities, acquisitions or otherwise; and
expectations regarding future maintenance and capital expenditures, and working
capital requirements. Forward-looking statements are statements and
information regarding possible events, conditions or results of operations that
are based upon assumptions about future economic conditions and courses of
action. All statements and information other than statements of historical fact
may be forward-looking statements. In some cases, forward-looking statements
can be identified by the use of words such as “seek”, “expect”, “anticipate”,
“budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”,
“predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and
similar words or phrases (including negative variations) suggesting future
outcomes or statements regarding an outlook. Such forward-looking
statements are based on a number of material factors and assumptions and
involve known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements, or industry results, to
differ materially from those anticipated in such forward-looking information.
You are cautioned not to place undue reliance on forward-looking statements
contained in this press release. Some of the known risks and other factors
which could cause actual results to differ materially from those expressed in
the forward-looking statements are described in the sections entitled “Risk
Factors” in Allegiant’s Listing Application, dated January 24, 2018, as filed with
the TSX Venture Exchange and available on SEDAR under Allegiant’s profile at
www.sedar.com. Actual results and future events could differ materially
from those anticipated in such statements. Allegiant undertakes no obligation
to update or revise any forward-looking statements included in this press
release if these beliefs, estimates and opinions or other circumstances should
change, except as otherwise required by applicable law. Certain statements
and information contained in this press release constitute
“forward-looking statements” within the meaning of applicable U.S.
securities laws and “forward-looking information” within the meaning of
applicable Canadian securities laws, which are referred to collectively as
“forward-looking statements”. The United States Private Securities
Litigation Reform Act of 1995 provides a “safe harbor” for certain
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.

Release – Digerati Technologies Reports 118% Revenue Growth to $8.163 Million for Third Quarter FY2022, Highest Quarterly Revenue in Company History

Posted on June 21, 2022 by Admin

Digerati Technologies Reports 118% Revenue Growth to $8.163 Million for Third Quarter FY2022, Highest Quarterly Revenue in Company History

Research, News, and Market Data on Digerati Technologies

– Non-GAAP Operating EBITDA of $0.969 Million –
– Gross Profit of $5.002 Million –
– Strong Gross Margin Improvement to 61.3% –

SAN ANTONIO,
TX (GlobeNewswire) – June 21, 2022 – Digerati Technologies, Inc. (OTCQB: DTGI), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, announced today financial results for the three months ended April 30, 2022, the Company’s third quarter for its Fiscal Year 2022.

Key Financial
Highlights for the Third Quarter Fiscal Year 2022 (Ended April 30, 2022)

Revenue increased by 118% to $8.163 million compared to $3.751 million for Q3 FY2021.
Gross profit increased 125% to $5.002 million compared to $2.225 million for Q3 FY2021.
Gross margin increased to 61.3% compared to 59.3% for Q3 FY2021.
Non-GAAP Adjusted EBITDA income was $0.557 million, excluding all non-cash items and one-time transactional expenses, compared to Adjusted EBITDA income of $0.321 million for Q3 FY2021.
Non-GAAP operating EBITDA (OPCO EBITDA) improved to income of $0.969 million, excluding corporate expenses, all non-cash items and one-time transactional expenses, compared to a non-GAAP operating EBITDA of $0.619 million for Q3 FY2022.

Arthur L. Smith, CEO of Digerati, commented, “We are extremely pleased with the operating and financial results for our third quarter fiscal year 2022, which include our recent acquisitions of SkyNet Telecom and NextLevel Internet. Our cloud communications and broadband solutions have an expanded footprint in Texas and are now on the west coast in California, serving our target market of small to medium-sized businesses.”

Smith continued, “As we build scale and increase our footprint through the continued implementation of our acquisition strategy, our team delivers on outstanding execution in identifying redundancies and cost savings and integrating operations to improve our efficiencies. Our 3rd quarter financial results do not yet reflect most of the cost synergies from our integration playbook for our most recent acquisitions of Skynet Telecom and NextLevel Internet. We anticipate realizing these synergies in subsequent quarters that we expect will result in improved operating profitability. We continue to prove out our business model year over year and quarter over quarter.”

Antonio Estrada, CFO of Digerati, stated, “All of our financial metrics continue to improve and are trending in the right direction. These are highlighted by our improved revenue, gross margin, adjusted EBITDA and operating EBITDA that have all been boosted by our acquisitions and the subsequent financial improvement due to successful integration. We continue to have our sights set on and remain on a track towards an uplisting to Nasdaq or NYSE American.”

Three Months ended April 30, 2022 Compared to Three Months ended April 30, 2021

Revenue for the three months ended April 30, 2022 was $8.163 million, an increase of $4.412 million or 118% compared to $3.751 million for the three months ended April 30, 2022. The increase in revenue is primarily attributed to the increase in total customers between periods due to the acquisitions of Skynet Telecom in December 2021 and NextLevel Internet in February 2022. Our total number of customers increased from 2,612 for the three months ended April 30, 2021, to 3,963 customers for the three months ended April 30, 2022.

Gross profit for the three months ended April 30, 2022 was $5.002 million, resulting in a gross margin of 61.3%, compared to $2.225 million and 59.3% for the three months ended April 30, 2021.

Selling, General and Administrative expenses (excluding legal and professional fees) for the three months ended April 30, 2022 increased by $2.303 million, or 116%, to $4.296 million compared to $1.993 million for the three months ended April 30, 2021. The increase in SG&A is attributed to the acquisitions of Skynet Telecom in December 2021 and NextLevel Internet in February 2022. As part of the consolidations, the Company absorbed all of the employees responsible for managing the customer base, technical support, sales, customer service, and administration.

Operating loss for the three months ended April 30, 2022 was $1.626 million, an increase of $1.038 million or 177%, compared to $0.588 million for the three months ended April 30, 2021. The increase in operating loss between periods is primarily due to the increase in legal and audit fees of $589,000 associated with the acquisition of NextLevel Internet in February 2022.

Adjusted EBITDA income for the three months ended April 30, 2022 was $0.557 million, compared to an adjusted EBITDA income of $0.321 million for the three months ended April 30, 2021. In accordance with SEC Regulation G, the non-GAAP measurement of Adjusted EBITDA has been reconciled to the nearest GAAP measurement, which can be viewed under the heading “Reconciliation of Net Loss to Adjusted EBITDA” in the financial table included in this press release.

Of note were the following non-cash expenses associated with the three months ended April 30, 2022. Company recognition of stock-based compensation and warrant expense of $0.028 million and depreciation and amortization expense of $1.540 million. Gain on derivative instruments was $6.827 million for the three months ended April 30, 2022.

Non-GAAP operating EBITDA (OPCO EBITDA) for the three months ended April 30, 2022 improved to income of $0.969 million, excluding corporate expenses, and all non-cash items and one-time transactional expenses, compared to a Non-GAAP operating EBITDA (OPCO EBITDA) income of $0.619 million for the three months ended April 30, 2021.

Net income for the three months ended April 30, 2022 was $3.902 million, an improvement of $16.705 million, as compared to a net loss of $12.803 million for the three months ended April 30, 2021. The resulting EPS profit for the three months ended April 30, 2022 was $0.03, as compared to a loss of ($0.09) for the three months ended April 30, 2021. The increase in net income between periods is primarily due to the gain on derivative instruments of $6.827 million.

On April 30, 2022 Digerati had $2.384 million of cash.

Use of Non-GAAP Financial Measurements

The Company believes that EBITDA (earnings before interest, taxes, depreciation and amortization) is useful to investors because it is commonly used in the cloud communications industry to evaluate companies on the basis of operating performance and leverage. Adjusted EBITDA provides an adjusted view of EBITDA that takes into account certain significant non-recurring transactions, if any, such as impairment losses and expenses associated with pending acquisitions, which vary significantly between periods and are not recurring in nature, as well as certain recurring non-cash charges such as changes in fair value of the Company’s derivative liabilities and stock-based compensation. The Company also believes that Adjusted EBITDA provides investors with a measure of the Company’s operational and financial progress that corresponds with the measurements used by management as a basis for allocating resources and making other operating decisions. Although the Company uses Adjusted EBITDA as one of several financial measures to assess its operating performance, its use is limited as it excludes certain significant operating expenses. Non-GAAP operating EBITDA (OPCO EBITDA) is useful to investors because it reflects EBITDA for the core operation of the business excluding corporate expenses, non-cash expenses and transactional expenses. EBITDA, Adjusted EBITDA, and Non-GAAP operating EBITDA are not intended to represent cash flows for the periods presented, nor have they been presented as an alternative to operating income or as an indicator of operating performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). In accordance with SEC Regulation G, the non-GAAP measurements in this press release have been reconciled to the nearest GAAP measurement, which can be viewed under the heading “Reconciliation of Net Loss to Adjusted EBITDA” in the financial table included in this press release.

About Digerati Technologies, Inc.

Digerati Technologies, Inc. (OTCQB: DTGI)is a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market. Through its operating subsidiaries T3 Communications (T3com.com), Nexogy (Nexogy.com), SkyNet Telecom (Skynettelecom.net) and NextLevel Internet
(nextlevelinternet.com), the Company is meeting the global needs of small businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market as it delivers business solutions on its carrier-grade network and Only in the Cloud™.

Forward-Looking Statements

The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements such as realizing cost synergies in subsequent quarters that we expect will result in improved operating profitability, remaining on a track towards an uplisting to Nasdaq or NYSE American, and we continue to prove out our business model year over year and quarter over quarter, are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, our inability to source suitable acquisition targets, failure to execute growth strategies, lack of product development and related market acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company’s periodic filings with the Securities and Exchange Commission.

Facebook: Digerati Technologies, Inc.

Twitter: @DIGERATI_IR

LinkedIn: Digerati Technologies, Inc.

Investors

The Eversull Group

Jack Eversull

jack@theeversullgroup.com
(972) 571-1624

ClearThink
Brian Loper

bloper@clearthink.capital
(347) 413-4234

Michael Burry is Predicting More Red

Posted on June 21, 2022 by Admin




Image Credit: Pixabay (Pexels)

Are Michael Burry’s Twitter Predictions on Point?

I’m bullish on Michael Burry Articles. The demand among investors and other readers is intense. Even those published
two years ago on Channelchek are consumed by new readers each day. And each time he deletes
his Twitter (TWTR) account, even more traffic is driven to those stories. The hedge fund manager, medical doctor, and subject of the movie, “The Big Short,” has again deleted his Twitter account after highlighting through various tweets, how ahead of the curve he has been with his predictions.

As an investor with a cult-like following, Burry is best known for having predicted the 2008 mortgage crisis, and more significantly, how to line up trades to profit from it. Anecdotally, it seems he’s more comfortable predicting
downside. This year he began suggesting the U.S. economy may succumb to a similar fate. Throughout 2022, with growing concern, Burry has been consistently warned of a painful recessionary period ahead, and has held investments in prisons, military contractors, and has shorted Apple (AAPL), and placed big bets against U.S. Treasuries.

As with his short on the mortgage markets, Burry is usually early with his predictions. Others in the investment world tend to disregard his early warnings well ahead of events that often have eventually unfolded as he predicted. Based on his tweets, this lack of being believed frustrates the successful fund manager. This is likely why he refers to himself on Twitter as Cassandra
B.C. In Greek mythology, Cassandra was a Trojan priestess with the gift of accurately prophecizing the future. However, she was also cursed with no one ever believing her prophecies – Cassandra was instead described as insane.

It is typical for Burry to disable his Twitter account after tweeting some of his more emotional tweets. He does this and then resurfaces with those tweets deleted. Recently deleted posts show Burry believes that fake Twitter accounts use his tweets. Specifically, he suggests bots and others pump asset purchases as comments on his posts. This helps them boost whatever it is they are trying to pump. He gives the reason for deleting his account as a way to discourage misuse of his famous tweets,“But it’s breathtaking, this religion of real and fake people. The speculation probably tops anything in history,” he wrote.

He is no fan of cryptocurrency. “If you don’t know how much leverage is in crypto, you don’t know anything about crypto, no matter how much else you think you know,” he tweeted. This is a similar cry to his posts in April 2020 when he predicted the U.S. would suffer from runaway inflation. He was also critical of the wisdom of the meme stock frenzy, which skyrocketed the prices of a few nostalgic stocks.

After last May’s CPI numbers, Burry tweeted, “Transitory, no. Peak, no. To the moon? If you mean a cold dark place.” As per Burry, inflation broke the weakest sector with “no buyers for MBS.” His prophecy that inflation numbers have not yet peaked this year and says the mainstream news that are reporting a strong dollar are looking at it incorrectly. In his
measurement system, the dollar is weak. is being heeded by some of his followers, the reduced value of the dollar spending power the inflation of May is not yet at its peak has created profound fear among the masses, as they are already dealing with the reduced disposable income coupled with increasing gasoline prices and other everyday use items.

It was in June 2021 Burry posted, “When crypto falls from trillions, or meme stocks fall from tens of billions, #MainStreet losses will approach the size of countries. History ain’t changed.” While scoffed at the time, and certainly there were many who got in, got out, and grew their accounts back then, but those that held are seeing a lot of red due to both the crypto selloff and the unwinding of the meme stock trade, not to mention the overall market performance.

Burry’s latest exit from Twitter was after a warning for the rest of 2022. He indicated unfathomable pain. While there is already pain in the market and on main street, his forecast is in addition to what may be a recession this year, a reduction in savings rates, 41-year high inflation rates, relative dollar weakness, and markets down between 23% and 31%.

Take Away

Dr. Michael Burry has again tweeted
about doom and complained that people aren’t listening. It is worth understanding his expectations and deciding whether they are viable and if there is action you as an investor should take. Articles surrounding his expectations and his portfolio holdings are widely read by investors. Sign up for Channelchek emails to stay in touch with these stories and many others.

Paul Hoffman

Managing Editor, Channelchek

Suggested Content

A Close Look at Michael Burry’s Plane Crash Comments

Michael Burry’s Latest Portfolio Brings the FAANGS Out

Michael Burry Couldn’t Resist Tweeting a Few Words About Twitter’s Largest Shareholder

Can Stock Market Index Enthusiasm Cause Costly Bubbles?

Sources

https://www.newtraderu.com/category/michael-burry/

https://markets.businessinsider.com/news/stocks/big-short-michael-burry-inflation-interest-rates-housing-market-mortgages-2022-6

https://www.tipranks.com/news

Stay up to date. Follow us:

Release – Entravision Radio Network’s ShoBoy Show Expands Coast To Coast Coverage With Four New Affiliates

Posted on June 21, 2022 by Admin

Entravision Radio Network’s ShoBoy Show Expands Coast To Coast Coverage With Four New Affiliates

06/21/2022

Entravision (NYSE: EVC), a leading global advertising solutions, media and technology company, announced today that the
Shoboy Show hosted by Edgar “Shoboy” Sotelo is now being syndicated by four new affiliate stations including: Jacksonville, FL on WYKB-FM, Bakersfield, CA on KBQF-FM, Atlantic City, NJ on WSJO-FM and Scranton, PA on WGGY-FM.

The Shoboy
Show is a feel-good entertainment experience that’s real, relatable and fun. The program is the only bilingual Latino radio show that airs Monday through Friday throughout the daytime listening lineup and is now being syndicated in nine states ranging from California to Florida. Since the show’s inception in 2020, Entravision has had an exclusive sales agreement to represent the Shoboy Show nationally on a network basis and continues to expand the program’s market base each year.

Starting in August 2020, the Shoboy Show launched in McAllen, TX (KKPS 99.5 FM), Sacramento, CA (KHHM 101.9 FM) and Stockton-Modesto, CA (KCVR 98.9 FM); followed by Albuquerque, New Mexico (KJFA 102.9 AM-FM) in October and in Salt Lake City, UT (KBMG 106.3 FM) in November.

In the show’s second year of airing, the Shoboy Show debuted in six more markets, including Santa Barbara-Santa Maria, CA (KRTO 97.1 FM) in January 2021, followed by Las Vegas, NV (KRRN 92.7 FM) and Palm Springs, CA (KPST 103.5 FM) in March, San Diego, CA (XRST 107.7 FM) and Houston, TX (KLOL 101.1 FM) in June and Washington, DC (WLZL 107.9 FM) in November.

With the additions of the Jacksonville, Bakersfield, Atlantic City and Scranton markets, 15 stations now syndicate the award-winning program.

WHERE:
FLOW, 105.3, WYKB-FM, Jacksonville FL
Kalor, 104.3, KBQF-FM, Bakersfield, CA
PLAY, 93.9, WSJO-FM, Atlantic City, NJ
La Mega, 94.9, WGGY-FM, Scranton, PA

“We are very excited to continue the expansion of the Shoboy Show, which has consistently driven instant engagement with listeners,” said Nestor Rocha, Entravision Radio’s Vice President of Programming. “The Shoboy Show is part of the biggest music and lifestyle movement in the world. It’s bilingual, trendy, and personality-driven and a fast rising radio show.”

“What a great opportunity to welcome even more listeners to our familia,” said Edgar “Shoboy” Sotelo. “As we continue to expand our reach across the US, it is clear that listeners are searching for representation of their bicultural Latino lifestyle on the radio. I am so happy that the Shoboy Show can provide that exact opportunity, and I am grateful to all of our program directors for continuing to provide us with amazing opportunities to connect with listeners across the nation.”

In addition, Mr. Sotelo will be co-hosting the annual Radio Ink Hispanic Conference that begins on Wednesday, June 22, 2022. Mr. Sotelo has been nominated for Radio Ink’s Syndicated/Personality of the Year. In addition to hosting the event, Mr. Sotelo will also speak on a panel on Thursday, June 23 at 11:30 am ET. Alongside his fellow panelists, Mr. Sotelo will discuss the topic of “Content is King,” and how to expertly drive listeners to the air waves. Prior to the panel, Entravision will be sponsoring a breakfast for all event attendees. For more information on the conference and to view the full agenda, please visit hispanicradioconference.com.

About Entravision
Communications Corporation

Entravision is a leading global advertising solutions, media and technology company connecting brands to consumers. Our dynamic portfolio includes digital, television and audio offerings. Digital, our largest revenue segment, is comprised of four business units: our digital sales representation business; Smadex, our programmatic ad purchasing platform; our branding and mobile performance solutions business; and our digital audio business. Through our digital sales representation business, we connect global media companies such as Meta, Twitter, TikTok and Spotify with advertisers in primarily emerging growth markets worldwide. Smadex is our mobile-first demand side platform, enabling advertisers to execute performance campaigns using machine learning. We also offer a branding and mobile performance solutions business, which provides managed services to advertisers looking to connect with global consumers, primarily on mobile devices, and our digital audio business provides digital audio advertising solutions for advertisers in the Americas. In addition to digital, Entravision has 49 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 New York Stock Exchange under the ticker symbol: EVC. Learn more about all of our media, marketing and technology offerings at entravision.com or connect with us on
LinkedIn and Facebook.

View source version on
businesswire.com: https://www.businesswire.com/news/home/20220617005544/en/

Contact for
Affiliation:
Andrea Becerra Prado
abecerra@entravision.com
323-900-6302

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

Source: Entravision Communications Corporation

Powell’s Statements to Congress Emphasized the Fed’s Resolve to Win Against Inflation

Posted on June 21, 2022 by Admin




Image Credit: C-Span

Powell Caught Between Competing Political Agendas and Economic Reality

Twice a year, the head of the Federal Reserve goes before the Committee on Banking, Housing, and Urban Affairs, of the U.S. Senate. The Chair delivers prepared remarks and then answers questions from members of the attending committees. Over the years, the Fed has gone from tightly guarding monetary policy plans to being as transparent as possible. In either case, as the nation’s top economist, they know if they say one wrong word during questioning, there can be significant shifts in the markets, and changes in all-around confidence globally. It’s perilous, and the challenge is even greater as they are economists that understand their role at a very high level, but they are taking questions from politicians that may have other priorities.

Chair Powell spoke about the overall economy, monetary policy, inflation, recession, and the terminal rate, or the highest rate expected during this tightening cycle. He was unequivocal in his resolve to bring down inflation. In his opening remarks he began with, “At the Fed, we understand the hardship high inflation is causing. We are strongly committed to bringing inflation back down, and we are moving expeditiously to do so. We have both the tools we need and the resolve it will take to restore price stability on behalf of American families and businesses. It is essential that we bring inflation down if we are to have a sustained period of strong labor market conditions that benefit all.”

The Federal Reserve Chair believes it is possible to effectively reel in inflaton without entering a recession, but it became clear through the question and answer session that he would allow a recession if that is the solution to the inflation battle.

Overall Economy

Inflation remains well above the Fed’s longer-run goal of a modest 2%. In the 12 months ending April 2022, Powell pointed out that inflation, as measured by the PCE deflator, rose 6.3 percent. He indicated he believes the pace has held and that consumer demand is strong. The supply problems he admitted have been larger and longer-lasting than expected. He also noted that price pressures have spread to a broad range of goods and services. The surge in crude oil prices and other commodities from Russia’s invasion of Ukraine is also boosting prices for fuel and is placing even greater upward pressure on inflation.

Additionally, new Covid-19-related lockdowns in China will add to global supply problems. Powell pointed out that the U.S. is not alone in dealing with inflation, prices also increased rapidly in many foreign economies.

He believes GDP measured growth which was negative over the first quarter has picked up during the second quarter. Consumption spending remains strong, and the job market is on firm ground. He said he sees signs of business fixed investment slowing, and activity in housing softening. These were not characterized as bad during his testimony as tempered demand can better match supply and lead to a sustainable balance.

The Fed takes particular comfort with strong labor markets, it gives them room to work. The unemployment rate is near a 50-year low, job vacancies are at historical highs, and hourly earnings are up. Labor demand is very strong, while labor supply remains subdued, with the labor force participation rate little changed since January.

Monetary Policy

The Fed’s monetary policy actions are guided by its mandate to promote maximum employment and stable prices in the U.S. economy. Fed Powell said in his prepared remarks, “My colleagues and I are acutely aware that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials like food, housing, and transportation. We are highly attentive to the risks high inflation poses to both sides of our mandate, and we are strongly committed to returning inflation to our 2 percent objective.”

In orchestrating lower inflation The Fed chair said he expects further rate increases will be appropriate, and the pace of the increases will depend on incoming data and outlook. During the last FOMC meeting, the Fed hiked the overnight lending rate by .75%, this was higher than earlier Fed guidance, it is presumed that increasing inflation conditions drove the higher than foretold increase. It sounds as though Powell is warning that they will continue to do what’s appropriate when they feel it’s appropriate — situations change.

“Setting appropriate monetary policy in this uncertain environment requires a recognition that the economy often evolves in unexpected ways. Inflation has obviously surprised to the upside over the past year, and further surprises could be in store. We, therefore, will need to be nimble in responding to incoming data and the evolving outlook. And we will strive to avoid adding uncertainty in what is already an extraordinarily challenging and uncertain time. We are highly attentive to inflation risks and determined to take the measures necessary to restore price stability. The American economy is very strong and well-positioned to handle tighter monetary policy,” Powell said in opening remarks.

Inflation

The Federal Reserve Chair believes it is possible to effectively reel in inflation without entering a recession, but it became clear through the question and answer session that the Fed places inflation concerns and the impact on the economy, ahead of recession risks.

As part of the discussion, members of Congress, especially those with more conservative leanings, hammered the inflation issue, pointing to stimulus spending sanctioned by the White House, and energy decisions that have reduced supply. Conservative members of the Senate also criticized the Fed for delaying drastic action on curbing inflation.

Other members of Congress dwelled more on outside issues that have impacted inflation and asked whether interest rates could have an impact on the increasing price of food, and energy. “A Fed increase won’t bring down these prices,” said Sen. Elizabeth Warren. “And why? Because rate hikes won’t make Vladimir Putin turn his tanks around and leave Ukraine. Rate hikes won’t break up monopolies, rate hikes won’t straighten out the supply chain or speed up ships or stop a virus that is still causing lockdowns in some parts of the world.”

Powell doesn’t believe the economy has “seen the full effect” of Covid-19 lockdowns.

Recession

Some members of Congress see a political advantage in faster monetary-policy tightening. For some, a more hawkish Fed up front could put out the fire sooner and reduce damage from inflation. This would likely mean an upfront recession. For those that can’t resist viewing any activity as political, the November mid-term elections may be won or lost on the pace of the economy and the rate of inflation. The party in power in both Congress and the White House would not benefit from rising rates and a weakening economy.

For Powell’s part, what is most telling is that he did not seem overly concerned about the risk of slower or negative economic growth. He continued to emphasize inflation, fighting the price increases, and doing everything possible to avoid prolonged weakness while prioritizing bringing inflation down to a 2% target.

Terminal Rate

At Wednesday’s testimony, Powell estimated the longer-run neutral rate for Fed funds should be about 2.5%. He also continued to emphasize that in his estimate it would be appropriate to raise rates to a restrictive level to curb inflation. There was some talk about the Taylor Rule, which is a theoretical formula that suggests the Fed should adjust overnight rates by an amount equivalent to the spread between measured inflation and the desired inflation rate (presumed to be 2%). To this, the Fed’s Chair indicated that economics is more of an art than science. The current situation according to Powell is unique and has its own dynamics that include the war in Ukraine supply issues, Covid-19 lockdown effects, and stock and bond markets that benefitted from injections to stimulate during the pandemic.

Paul Hoffman

Managing Editor, Channelchek

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https://youtu.be/ULTY9NVtLxw

www.investopedia.com/terms/t/taylorsrule.asp

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Release – Finnair and Gevo Enter Into Sustainable Aviation Fuel Sales Agreement For 7 Million Gallons Of Per Year Over Five Years

Posted on June 21, 2022 by Admin

FINNAIR AND GEVO ENTER INTO
SUSTAINABLE AVIATION FUEL SALES AGREEMENT FOR 7 MILLION GALLONS OF PER YEAR
OVER FIVE YEARS

ENGLEWOOD, Colo., June 21, 2022 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) is pleased to announce a new fuel sales agreement with Finnair. The Agreement outlines the details for the purchase of 7 million gallons per year of sustainable aviation fuel (SAF) for five years from Gevo’s commercial operations. Deliveries of the SAF by Gevo are expected to begin in 2027. The expected value for the Agreement to be $192 million over the five-year period, inclusive of the value from environmental benefits for Gevo.

Finnair is a member of oneworld® Alliance, and this Agreement falls under the purview of a memorandum of understanding (MoU) that oneworld and Gevo signed in April 2022, laying the groundwork for the 14 world-class airlines in the alliance to purchase 200 million gallons of SAF per year, from Gevo’s commercial operations. The Agreement with Finnair will broaden Gevo’s range of airline partners and grow its global footprint with its sustainable fuel products, and also supports our efforts in pursuit of our stated goal of producing and commercializing a billion gallons of SAF by 2030.

“Gevo was founded on the principle of building sustainability into every step of our process,” said Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer. “But it is not static—it’s always improving: We’re constantly incorporating new developments at every stage of our business system to reduce our carbon intensity. This is expected to make the renewable energy carried in our advanced renewable fuels even more impactful as they help to lower our customers’ carbon scores.”

Finnair uses an extensive toolkit to achieve emission reductions – using sustainable aviation fuels, reducing the weight of aircraft, developing fuel-efficient flight methods, offsetting, and engaging customers in reducing aviation emissions. Finnair is also actively exploring the possibilities of introducing new technologies into its operations.

“Finnair has ambitious emissions reduction targets: by the end of 2025, we intend to halve the level of net emissions from 2019 and achieve carbon neutrality latest by the end of 2045. SAF plays an important role for reaching these targets,” says Eveliina Huurre, SVP Sustainability at Finnair.

Gevo’s process is designed to create multiple efficiencies by allowing the same acre of farmland to produce SAF from corn using atmospheric carbon while simultaneously adding high-value nutritional products to the food chain.

“Finnair knows the future will be built on renewable energy, and our SAF delivers renewable energy in a drop-in fuel that is expected to make an impact right away,” said Dr. Gruber. “Because its fungible, this SAF is expected to reduce the carbon intensity in any flight proportional to the blend used to fill up the aircraft.”

The Agreement with Finnair is subject to certain conditions precedent, including Gevo developing, financing, and constructing one or more production facilities to produce the SAF contemplated by the Agreement.

About Gevo
Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

About Finnair
Finnair is a network airline, specialising in connecting passenger and cargo
traffic between Asia, North America and Europe. Sustainability is at the heart
of everything we do – ?Finnair intends to reduce its net emissions by 50% by
the end of 2025?from the 2019 baseline?and achieve carbon neutrality latest by
the end of 2045. Finnair is a member of the oneworld alliance. Finnair Plc’s
shares are quoted on the Nasdaq Helsinki stock exchange.

Learn more about Finnair here: finnair.com

Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including Gevo’s technology, the agreement with Finnair, Gevo’s ability to develop, finance and construct one or more production facilities to produce the SAF contemplated by the Agreement with Finnair, the timing of Gevo producing the SAF for Finnair, Gevo’s estimate of the expected value of the Agreement with Finnair, the oneworld Alliance, Gevo’s production of SAF, the attributes of Gevo’s products, Gevo’s ability to create net-zero carbon intensity products, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2021, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Media Contact
Heather L. Manuel
+1 303-883-1114
IR@gevo.com

Release – Cypress Development Announces Positive Direct Lithium Extraction Results

Posted on June 21, 2022 by Admin

Cypress Development Announces Positive Direct Lithium Extraction Results

Research, News, and Market Data on Cypress Development

June 21, 2022 –
Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX:
CYDVF) (Frankfurt: C1Z1) ( “Cypress” or “the Company”) is pleased to announce positive results from the Direct Lithium Extraction (“DLE”) portion of its Lithium Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada. Assays received from samples collected during continuous operating cycles in March, April, and May, 2022, revealed an average lithium recovery of 99.5% within the DLE portion of the Pilot Plant. These high lithium recoveries were accompanied with high levels of impurity rejection.

“We are very pleased with the DLE results from the Pilot Plant” said Bill Willoughby, Cypress President, and CEO. “Thanks to Chemionex, vendors of the DLE process, and the work of our team, the results are consistent over time and sufficient to give Cypress confidence in this part of our overall process. The information gained from the testing along with the license to the technology are important steps for Cypress and the ongoing Feasibility Study.”

The DLE area is one part in the Pilot Plant and consists of a proprietary process and equipment acquired from Chemionex, Inc. Overall, lithium extraction begins in the Pilot Plant with acid leaching a slurry of lithium-bearing claystone. The lithium solution obtained from leaching then passes through several steps before entering the DLE process. In continuous 24-hour-per-day tests from the end of March through mid-May 2022, lithium recoveries in the DLE portion were consistently above 99%. These high lithium recoveries were observed in 76 sets of feed and discharge samples. The samples were collected at 6-hour intervals over the operating periods and were assayed at ALS Global for lithium and other elements. Rejection of major cations, calcium and magnesium, during the period was also above 99%.

Based on these results, Cypress’ Board of Directors has authorized the release of one million Cypress shares being held in escrow to Chemionex, thereby satisfying the terms of its July 5, 2021, Share Purchase and License Agreement. With the completion of the purchase agreement, Cypress acquires full ownership of the equipment and a royalty-free license in perpetuity to use the Chemionex technology at its Pilot Plant and at the Company’s Clayton Valley Lithium Project. The shares released are subject to the policies of the TSX Venture Exchange.

Qualified Person

Todd Fayram, MMSA-QP, is the qualified persons as defined by National Instrument 43-101 and have approved of the technical information in this release.

About Cypress Development
Corp

Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a feasibility study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CYPRESS
DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information,
please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email scacos@cypressdevelopmentcorp.com
www.cypressdevelopmentcorp.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding
Forward-Looking Statements

This release includes
certain statements that may be deemed to be “forward-looking
statements”. Forward-looking statements are subject to risks,
uncertainties and assumptions and are identified by words such as “expects,” “estimates,”
“projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar
words. All statements in this release, other than statements of historical
facts, that address events or developments that management of the Company
expects, are forward-looking statements. Although management 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 or developments may differ materially from
those in the forward-looking statements. The Company undertakes no obligation
to update these forward-looking statements if management’s beliefs, estimates
or opinions, or other factors, should change. Factors that could cause actual
results to differ materially from those in forward-looking statements, include
market prices, exploration, and development successes, continued availability
of capital and financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for
further information.

Release – Seanergy Maritime Announces Proposed Spin-Off

Posted on June 17, 2022 by Admin

Seanergy Maritime Holdings Corp. Reports First Quarter 2022 Financial Results and Declares Dividend of $0.025 Per Share

June 17, 2022 – Glyfada, Greece – Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today that it intends to effect a spin-off of the Company’s oldest Capesize vessel, the M/V Gloriuship, through a wholly-owned subsidiary. The newly formed subsidiary, United Maritime Corporation (“United”), will act as the holding company for the M/V Gloriuship. United has applied to have its common shares listed on the Nasdaq Capital Market and is expected to adopt a diversified business model, with investments across various maritime sectors.

Seanergy is contributing the vessel-owning subsidiary of the M/V Gloriuship to United and intends to distribute all the common shares of United pro rata to the Company’s shareholders of record as of June 28, 2022, which coincides with the previously-announced record date for Seanergy’s cash dividend of $0.025 per share for the first quarter of 2022. The distribution of United common shares is expected to be made on or around July 5, 2022. United common shares are expected to commence trading on a standalone basis on the Nasdaq Capital Market on the first trading day after the date of distribution, under the ticker “USEA”.

The transaction remains subject to the registration statement on Form 20-F being declared effective and the approval of the listing of United’s common shares on the Nasdaq Capital Market. There can be no assurance that the transaction will occur or, if it does occur, of its terms or timing.

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

“The spin-off of 100% of the common shares of United Maritime Corporation represents a significant return of value to our shareholders. Our board of directors believes that the distribution of shares of a separate, publicly traded shipping company that will pursue a diversified business model and greater exposure to different shipping segments will further enhance shareholder value.”

“Seanergy will continue its successful course as a pure-play Capesize owner, and we intend to substitute our oldest vessel, the Gloriuship, with a younger Capesize vessel.

“At the same time the uninterrupted payment of cash dividends by Seanergy over the last two quarters is a solid indication of our stated intention to continue rewarding our shareholders.”

Seanergy shareholders do not need to take any action to receive United shares to which they are entitled, and do not need to pay any consideration or surrender or exchange Seanergy common shares. Seanergy common shareholders will receive one United common share for every 118 Seanergy common shares held at the close of business on June 28, 2022, the record date for the distribution. Fractional common shares of United will not be distributed. Instead, the distribution agent will aggregate fractional common shares into whole shares, sell such whole shares in the open market at prevailing rates promptly after United’s common shares commence trading on the Nasdaq Capital Market, and distribute the net cash proceeds from the sales pro rata to each holder who would otherwise have been entitled to receive fractional common shares in the distribution. It is not anticipated that a “when-issued” trading market in United common shares will be established, and therefore it is not anticipated that United common shares will begin trading on a standalone basis until the trading day following the date of distribution. Shares of Seanergy common stock are expected to trade with due bills from the record date through and including the date of the distribution of the United common shares. Accordingly, Seanergy common shareholders as of the record date must continuously hold such Seanergy common shares through and including the distribution date in order to receive common shares of United in the proposed spin-off. Holders of Seanergy common shares are encouraged to consult with their financial and tax advisors regarding the specific implications of the proposed spin-off, including the implications of trading in Seanergy common shares prior to the distribution date and the U.S. federal, state and local or foreign tax consequences, as applicable, of the proposed spin-off.

United has filed a registration statement on Form 20-F pursuant to the Securities Exchange Act of 1934 with the Securities and Exchange Commission, which includes a more detailed description of the terms of the proposed spin-off transaction. A copy of the registration statement on Form 20-F is available at www.sec.gov. The information in the filed registration statement on Form 20-F is not final and remains subject to change.

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 fleet consists of 17 Capesize vessels with an average age of 12.3 years and aggregate cargo carrying capacity of 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”.

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

Forward-Looking
Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including statements regarding the anticipated spin-off of United, including transaction timing and certainty, the planned record and distribution dates our and United’s anticipated competitive positioning and positioning for future success following the spin-off. 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 impact of regulatory requirements or other factors on the Company’s ability to consummate the proposed spin-off; 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; broader market impacts arising from war (or threatened war) or international hostilities, such as between Russia and Ukraine; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For further
information please contact:

Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr

Capital Link, Inc.

Paul Lampoutis
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566
E-mail: seanergy@capitallink.com

Why Understanding the Metaverse isn’t Common Sense

Posted on June 17, 2022 by Admin



Image Credit: Kimberly Winnington

How We Describe the Metaverse Makes a Difference – Today’s Words Could Shape Tomorrow’s Reality and Who Benefits from It

Quick, define the word “metaverse.”

Coined in 1992 by science fiction author Neal Stephenson, the relatively obscure term exploded in popularity during the COVID-19 pandemic, particularly after Facebook rebranded as Meta in October 2021. There are now myriad articles on the metaverse, and thousands of companies have invested in its development. Citigroup Inc. has estimated that by 2030 the metaverse could be a US$13 trillion market, with 5 billion users.

From climate change to global connection and disability access to pandemic response, the metaverse has incredible potential. Gatherings in virtual worlds have considerably lower carbon footprints than in-person gatherings. People spread all over the globe can gather together in virtual spaces. The metaverse can allow disabled people new forms of social participation through virtual entrepreneurship. And during the early days of the COVID-19 pandemic, the metaverse not only provided people with ways to connect but also served as a place where, for instance, those sharing a small apartment could be alone.

No less monumental dangers exist as well, from surveillance and exploitation to disinformation and discrimination.

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It was written by and represents the research-based opinions of Tom Boellstorff, Professor of Anthropology, University of California, Irvine.

But discussing these benefits and threats remains difficult because of confusion about what “metaverse” actually means. As a professor of anthropology who has been researching the metaverse for almost 20 years, I know this confusion matters. The metaverse is at a virtual crossroads. Norms and standards set in the next few years are likely to structure the metaverse for decades. But without common conceptual ground, people cannot even debate these norms and standards.

Unable to distinguish innovation from hype, people can do little more than talk past one another. This leaves powerful companies like Meta to literally set the terms for their own commercial interests. For example, Nick Clegg, former deputy prime minister of the U.K. and now president of global affairs at Meta, attempted to control the narrative with the May 2022 essay “Making the Metaverse.”

Categorical Prototypes

Most attempted definitions for metaverse include a bewildering laundry list of technologies and principles, but always included are virtual worlds – places online where real people interact in real time. Thousands of virtual worlds already exist, some gaming oriented, like Fortnite and Roblox, others more open-ended, like Minecraft and Animal Crossing: New Horizons.

Beyond virtual worlds, the list of metaverse technologies typically includes avatars, nonplayer characters and bots; virtual reality; cryptocurrency, blockchain and non-fungible tokens; social networks from Facebook and Twitter to Discord and Slack; and mobile devices like phones and augmented reality interfaces. Often included as well are principles like interoperability – the idea that identities, friendship networks and digital items like avatar clothes should be capable of moving between virtual worlds.

The problem is that humans don’t categorize by laundry lists. Instead, decades of research in cognitive science has shown that most categories are “radial,” with a central prototype. One could define “bird” in terms of a laundry list of traits: has wings, flies and so on. But the prototypical bird for North Americans looks something like a sparrow. Hummingbirds and ducks are further from this prototype. Further still are flamingos and penguins. Yet all are birds, radiating out from the socially specific prototype. Someone living near the Antarctic might place penguins closer to the center.

This representation of radial categories shows that the prototypical bird for most Americans is a sparrow, and that while ostrich legs are bird parts, they aren’t part of every bird. Credit: Tom Boellstorff

Human creations are usually radial categories as well. If asked to draw a chair, few people would draw a dentist chair or beanbag chair.

The metaverse is a human creation, and the most important step to defining it is to realize it’s a radial category. Virtual worlds are prototypical for the metaverse. Other elements of the laundry list radiate outward and won’t appear in all cases. And what’s involved will be socially specific. It will look different in Alaska than it will in Addis Ababa, or when at work versus at a family gathering.

Whose Idea of Essential?

This matters because one of the most insidious rhetorical moves currently underway is to assert that some optional aspect of the metaverse is prototypical. For instance, many pundits define the metaverse as based on blockchain technology and cryptocurrencies. But many existing virtual worlds use means other than blockchain for confirming ownership of digital assets. Many use national currencies like the U.S. dollar, or metaverse currencies pegged to a national currency.

Another such rhetorical move appears when Clegg uses an image of a building with a foundation and two floors to argue not only that interoperability will be part of “the foundations of the building” but that it’s “the common theme across these floors.”

But Clegg’s warning that “without a significant degree of interoperability baked into each floor, the metaverse will become fragmented” ignores how interoperability isn’t prototypical for the metaverse. In many cases, fragmentation is desirable. I might not want the same identity in two different virtual worlds, or on Facebook and an online game.

The 13-year-old computer game Minecraft lets players build virtual worlds, which makes it a prototypical element of the metaverse.

This raises the question of why Meta – and many pundits – are fixated on interoperability. Left unsaid in Clegg’s essay is the “foundation” of Meta’s profit model: tracking users across the metaverse to target advertising and potentially sell digital goods with maximum effectiveness. Recognizing “metaverse” as a radial category reveals that Clegg’s claim about interoperability isn’t a statement of fact. It’s an attempt to render Meta’s surveillance capitalism prototypical, the foundation of the metaverse. It doesn’t have to be.

Locking in Definitions

This example illustrates how defining the metaverse isn’t an empty intellectual exercise. It’s the conceptual work that will fundamentally shape design, policy, profit, community and the digital future.

Clegg’s essay concludes optimistically that “time is on our side” because many metaverse technologies won’t be fully realized for a decade or more. But as the VR pioneer Jaron Lanier has noted, when definitions about digital technology get locked in they become difficult to dislodge. They become digital common sense.

With regard to the definitions that will be the true foundation of the metaverse, time is emphatically not on our side. I believe that now is the time to debate how the metaverse will be defined — because these definitions are very likely to become our digital realities.

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Allegiant Gold (AUXXF) – Keeping an Eye Out for the Next Update

Posted on June 17, 2022 by Admin

Friday, June 17, 2022

Allegiant Gold (AUXXF)
Keeping an Eye Out for the Next Update

Allegiant owns 100% of 10 highly-prospective gold projects in the United States, seven of which are located in the mining-friendly jurisdiction of Nevada. Three of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

Drilling through the remainder of the year. In April, Allegiant Gold commenced its 14,000-meter drilling program at Eastside. We expect two rigs to be in operation at Eastside through the remainder of the year. With the recent investment by Kinross Gold Corporation (NYSE: KGC, TSX: K), along with its technical advisory support, deeper core drilling will help to better assess Eastside’s high-grade potential. We might expect the company to provide an update soon.

Updating estimates. We have updated our estimates and forecast a 2022 net loss per share of C$(0.02) compared to our prior estimate of C$(0.01). Our revised estimate reflects greater expenses associated with investor relations, professional fees, and non-cash share-based payments….

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.

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Digerati Technologies Reports 118% Revenue Growth to $8.163 Million for Third Quarter FY2022, Highest Quarterly Revenue in Company History

– Non-GAAP Operating EBITDA of $0.969 Million – – Gross Profit of $5.002 Million – – Strong Gross Margin Improvement to 61.3% –

Three Months ended April 30, 2022 Compared to Three Months ended April 30, 2021

Use of Non-GAAP Financial Measurements

About Digerati Technologies, Inc.

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FINNAIR AND GEVO ENTER INTO SUSTAINABLE AVIATION FUEL SALES AGREEMENT FOR 7 MILLION GALLONS OF PER YEAR OVER FIVE YEARS

Cypress Development Announces Positive Direct Lithium Extraction Results

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Allegiant Gold (AUXXF)Keeping an Eye Out for the Next Update

Tonix Pharmaceuticals Announces
Publication of Paper in Pharmaceutics on the Enhancing Effect That Magnesium
Contributes to in vivo Intranasal Oxytocin Analgesia

– Non-GAAP Operating EBITDA of $0.969 Million –
– Gross Profit of $5.002 Million –
– Strong Gross Margin Improvement to 61.3% –

FINNAIR AND GEVO ENTER INTO
SUSTAINABLE AVIATION FUEL SALES AGREEMENT FOR 7 MILLION GALLONS OF PER YEAR
OVER FIVE YEARS

Allegiant Gold (AUXXF)
Keeping an Eye Out for the Next Update