Month: September 2022

Release – Fatburger & Buffalo’s Express Opens in Northern Virginia

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on FAT

SEPTEMBER 15, 2022

Co-Branded Fatburger & Buffalo’s Express Makes Debut in D.C. Market

LOS ANGELES, Sept. 15, 2022 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Fatburger, Buffalo’s Express, and 15 other restaurant concepts, announces the opening of the first co-branded Fatburger and Buffalo’s Express restaurant in Northern Virginia, located in Manassas.

The new co-branded location provides guests with a one-stop dining experience for custom, grilled-to-perfection burgers and fresh, never frozen chicken wings bursting with flavor. The restaurant also boasts a Fatburger Bar with drinks ranging from signature cocktails such as the Fat Mule and a Two in the Mornin’ Daiquiri to spiked milkshakes made with hand-scooped, real ice cream.

“We are excited to introduce Northern Virginia to our popular, co-branded restaurant model, the third to date in the state,” said Jake Berchtold, COO of FAT Brands’ Fast Casual Division. “The D.C. area has been craving Fatburger for some time, so we are pleased to now be able to serve them our famous Fatburgers and wings.”

Ever since the first Fatburger opened in Los Angeles 70 years ago, the chain has been known for its delicious, grilled-to-perfection and cooked to order burgers. Founder Lovie Yancey believed that a big burger with everything on it is a meal in itself; at Fatburger “everything” is not just the usual roster of toppings. Burgers can be customized with everything from bacon and eggs to chili and onion rings. In addition to its famous burgers, the Fatburger menu also includes Fat and Skinny Fries, sweet potato fries, scratch-made onion rings, Impossible™ Burgers, turkeyburgers, hand-breaded crispy chicken sandwiches, and hand-scooped milkshakes made from 100% real ice cream.

From the Buffalo’s Express menu, patrons can choose bone-in or boneless wings accompanied by a range of homemade sauces. All of Buffalo’s Express’ wings are accompanied by celery, carrots, and blue cheese, ranch or honey mustard dressing.

The Manassas Fatburger and Buffalo’s Express is located at 8097 Sudley Road, Manassas, VA., and is open daily from 11 a.m. to 9 p.m.

For more information or to find a Fatburger and Buffalo’s Express near you, please visit www.fatburger.com.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

About Fatburger

An all-American, Hollywood favorite, Fatburger is a fast-casual restaurant serving big, juicy, tasty burgers, crafted specifically to each customer’s liking. With a legacy spanning 70 years, Fatburger’s extraordinary quality and taste inspire fierce loyalty amongst its fan base, which includes a number of A-list celebrities and athletes. Featuring a contemporary design and ambiance, Fatburger offers an unparalleled dining experience, demonstrating the same dedication to serving gourmet, homemade, custom-built burgers as it has since 1952 – The Last Great Hamburger Stand™. For more information, visit www.fatburger.com.

About Buffalo’s Express

Founded in 1985 in Roswell, Georgia, Buffalo’s Express is a fast-casual chain known for its world-famous chicken wings and proprietary wing sauces. Co-branded with over 100 Fatburger restaurants to date, Buffalo’s Express’ significant growth can be attributed to its high-quality menu offerings and unparalleled dining experience. Featuring a contemporary design and ambiance, whether guests are dining-in or having take-out/delivery, Buffalo’s Express offers friends and families the flexibility to enjoy their world-famous chicken wings however they prefer. Buffalo’s Express – Where Everyone is Family™. For more information, visit www.fatburger.com/buffalos-express.

MEDIA CONTACT :
Erin Mandzik, FAT Brands
emandzik@fatbrands.com
860-212-6509

Release – FEVO Adds Harte Hanks as Official CX Partner

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on HHS

CHELMSFORD, MA / ACCESSWIRE / September 15, 2022 / Harte Hanks Inc. (Nasdaq:HHS), a leading global customer experience company focused on bringing companies closer to customers for nearly 100 years, and FEVO, a leading social-commerce technology company that lets friends shop together, announced a growing partnership today. The partnership is designed to help FEVO maintain its fan-and client-first ethos, as FEVO builds upon its explosive growth from 2021.

The partnership expands Harte Hanks’ prior successful work with FEVO to now allow Harte Hanks to serve as FEVO’s exclusive CX partner. The exclusivity of this relationship demonstrates FEVO’s belief in the power of best-in-class customer care that Harte Hanks provides, and the value it brings to their clients. Currently, Harte Hanks provides a range of services in support of FEVO, including client support, ticket fulfillment and back-office support.

“We’re excited to partner with Harte Hanks as we keep the focus on the fans and brands who trust FEVO with their purchases,” said Betty Tran, FEVO Chief Marketing Officer. “To enhance our customer experience as our consumer base continues to grow, we look forward to introducing Harte Hanks’ services to FEVO partners in need.”

“This expansion of the partnership between Harte Hanks and FEVO demonstrates the strength and value already realized in our work together,” said Ben Chacko, Harte Hanks Customer Care Managing Director. “Our goal is to maximize satisfaction during all interactive communications with FEVO clients and customers.”

For more information visit: https://www.hartehanks.com/

About Harte Hanks:

Harte Hanks (Nasdaq:HHS) is a leading global customer experience company whose mission is to partner with clients to provide them with CX strategy, data-driven analytics and actionable insights combined with seamless program execution to better understand, attract and engage their customers.

Using its unparalleled resources and award-winning talent in the areas of Customer Care, Fulfillment and Logistics, and Marketing Services, Harte Hanks has a proven track record of driving results for some of the world’s premier brands, including Bank of America, GlaxoSmithKline, Unilever, Pfizer, HBOMax, Volvo, Ford, FedEx, Midea, Sony and IBM, among others. Headquartered in Chelmsford, Massachusetts, Harte Hanks has over 2,500 employees in offices across the Americas, Europe and Asia Pacific.

About FEVO:

FEVO is dedicated to changing e-commerce: Our proprietary technology adds friend power to a brand’s site for more browsing, more fun – and more sales. We enable consumers to invite friends to purchase together with just a few clicks, allowing groups to connect and communities to form. And it all happens on a brand’s site with just one single line of code, so brands can capture more data while building their own social graphs and identifying valuable customers.

For media inquiries or further information, please contact: Jen.London@hartehanks.com

FEVO Media Contact: chad.romiti@unytd.com

SOURCE: Harte Hanks, Inc.

Release – Comtech Awarded London Police Service Next Generation 9-1-1 Contract

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on CMTL

MELVILLE, N.Y.–(BUSINESS WIRE)–Sep. 15, 2022– September 15, 2022– Comtech (NASDAQ: CMTL) announced today that Comtech Solacom Technologies, Inc., a division of the Company’s 9-1-1 Public Safety and Security segment, was recently awarded a Next Generation 9-1-1 (“NG9-1-1”) services contract to provide its Guardian call management solution to the London Police Services. The London Police Service is Comtech Solacom’s latest customer in the Southern Ontario region, joining the Toronto Paramedic and Toronto Police Services, which also recently awarded contracts to Comtech Solacom. The new system award includes multiple years of support and comprehensive cybersecurity protection.

The public safety answering point (“PSAP”) will receive a geo-diverse, redundant NG9-1-1 Guardian Call Management solution fully equipped with Guardian Intelligent Workstations (“IWS”). IWS’ are powerful emergency call taking positions designed to maximize call management effectiveness. The intuitive user interface allows call takers to quickly assess, prioritize and handle landline, wireless and VoIP calls. Call takers can quickly create multi-party conferences, transfer calls, determine the location of callers and play back recently recorded conversations. The Guardian IWS is also engineered to be future proof so that next generation capabilities such as real-time text (RTT), exchanging video, images and data with specially trained staff can be supported once they become available to the public. In addition, the system is designed according to industry standards and the Canadian Radio-Television and Telecommunication (“CRTC”) Next Generation 9-1-1 directives.

“We were impressed with many of the advanced, next generation features inherent to the Guardian call management platform including Mapping and Text-from-911,” said Stu Betts, Deputy Chief of the London Police Service. “The added service of safeguarding our network from cyberattacks was imperative and Comtech Solacom understood that need and offered us a solution that met our exact requirements.”

“We’re pleased to be partnering with the London Police Services Board as we deploy a complete, turnkey next generation Guardian call management solution to the London Police Service,” said Ken Peterman, President and CEO of Comtech. “With their new Guardian solution, the London Police Service will be able to modernize current 911 operations, improve public safety services and get piece of mind knowing they’re protected from potential cybersecurity threats.”

About Comtech

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

Forward-Looking Statements

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

PCMTL

Investor Relations
Robert Samuels
631-962-7102
robert.samuels@comtech.com

Source: Comtech Telecommunications Corp.

Release – Tonix Pharmaceuticals Announces Data Presentations Involving TNX-1500 (Fc-Modified Anti-CD40L mAb) for the Prevention of Rejection in Allograft and Xenograft Transplantation in Animal Models at the International Congress of The Transplantation Society (TTS 2022)

Posted on by aweinsoff@channelchek.com

Research, News, and Market Dat on TNXP

September 15, 2022 7:00am EDT

TNX-1500 Treatment Prevents Organ Rejection and Preserves Function for Both Allograft and Xenograft Transplants in Animal Studies

CHATHAM, N.J., Sept. 15, 2022 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix or the Company), a clinical-stage biopharmaceutical company, today announced data from three oral presentations by faculty at the Center for Transplantation Sciences, Massachusetts General Hospital Center at the 29th International Congress of The Transplantation Society (TTS 2022) held September 10-14, 2022 in Buenos Aires, Argentina. The data involve studies of Tonix’s TNX-1500 (Fc modified anti-CD40L monoclonal antibody) product candidate in development for the prevention of organ transplant rejection. The molecular target of TNX-1500 is CD40-ligand (CD40L), which is also known as CD154. Copies of the presentations are available under the Scientific Presentations tab of the Tonix website at www.tonixpharma.com.

The presentations titled, “Long-term rejection-free renal allograft survival with Fc-modified anti-CD154 antibody monotherapy in nonhuman primates,” and “Monotherapy with TNX-1500, a Fc-modified anti-CD154mAb, prolongs cardiac allograft survival in cynomolgus monkeys,” include data demonstrating that TNX-1500 treatment showed activity in preventing organ rejection and was well tolerated in non-human primates. Blockade of CD40L with TNX-1500 monotherapy consistently and safely prevented pathologic alloimmunity in non-human primate cardiac and kidney allograft models without clinical thrombosis.

The presentation titled, “Long-term (>1 year) rejection-free survival of kidney xenografts with triple xenoantigen knockout and multiple human transgenes in nonhuman primates,” includes data demonstrating that TNX-1500 treatment showed activity in preventing xenograft kidney rejection and was well tolerated in non-human primates. Xenografts are transplanted organs from donors of a different species from the recipient, and in this study, the xenografts originated from genetically engineered pigs. Blockade of CD40L with TNX-1500 monotherapy consistently and safely prevented pathologic xenoimmunity in non-human primate kidney xenograft models without clinical thrombosis.

“There remains a significant need for new treatments with improved activity and tolerability to prevent organ transplant rejection,” said Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals. “To date, there has not been a humanized anti-CD40L antibody that can effectively prevent transplant rejections with an acceptable level of tolerability. TNX-1500 is a third generation anti-CD40L mAb that has been designed by protein engineering to decrease FcγRII binding and to reduce the potential for thrombosis. The animal studies found that TNX-1500 retains activity to prevent rejection and preserve graft function. We believe TNX-1500 has the potential for treating and preventing organ transplant rejection in both allograft and xenograft transplants. Tonix expects to initiate a Phase 1 trial of TNX-1500 in the first half of 2023. Preventing transplant rejection is the first indication we are pursuing, but based on results of anti-CD40L in numerous animal models, we believe that TNX-1500 has the potential for treating a number of autoimmune conditions.”

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 second quarter of 2023. TNX-102 SL is also being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix initiated a Phase 2 study in Long COVID in the third quarter of 2022 and expects interim data in the first half of 2023. TNX-1300 (cocaine esterase) is a biologic designed to treat cocaine intoxication and has been granted Breakthrough Therapy designation by the FDA. A Phase 2 study of TNX-1300 is expected to be initiated in the first quarter of 2023. 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 fourth quarter 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 infectious disease pipeline consists of a vaccine in development to prevent smallpox and monkeypox, next-generation vaccines to prevent COVID-19, and a platform to make fully human monoclonal antibodies to treat COVID-19. TNX-801, Tonix’s vaccine in development to prevent smallpox and monkeypox, also serves as the live virus vaccine platform or recombinant pox vaccine (RPV) platform for other infectious diseases. A Phase 1 study of TNX-801 is expected to be initiated in Kenya in the first half of 2023. Tonix’s lead vaccine candidate for COVID-19 is TNX-1850, a live virus vaccines based on Tonix’s recombinant pox live virus vector vaccine platform. A Phase 1 study of the COVID-19 vaccine is expected to be initiated in the second half of 2023.

*All of Tonix’s product candidates are investigational new drugs or biologics and have not 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) 904-8182

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

Source: Tonix Pharmaceuticals Holding Corp.

Released September 15, 2022

Release – MustGrow and Global Partners Drive Biological Programs Forward

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on MGROF

  • Soil biofumigation platform continues to show promising results across multiple continents.
  • Postharvest activities in potatoes, fruits and vegetables have demonstrated initial efficacy and work is now focused on application, timing, dose rates and residues.
  • Bioherbicide optimization and formulation work advances.

Saskatoon, Saskatchewan–(Newsfile Corp. – September 15, 2022) – MustGrow Biologics Corp. (CSE: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the “Company” or “MustGrow“), and its global agriculture partners continue to drive MustGrow’s organic mustard-derived crop protection and food preservation technology forward through field trials, development work and regulatory approval strategies in key global agricultural regions. Publicly-disclosed programs include:

  • Sumitomo Corporation

Exclusive evaluation agreement in the Americas for preplant soil fumigation, bioherbicide, postharvest and food preservation for potatoes and bananas. Sumitomo Corporation is funding and driving all field development, including toxicology, safety, efficacy, and regulatory work necessary for commercialization. (Press release link)

  • Bayer

Exclusive evaluation agreement in Europe, Asia Pacific, Middle East and Africa for preplant soil fumigation, bioherbicide applications and postharvest food preservation of potatoes including sprout inhibition. The first year of the evaluation is focused on the pre-plant soil fumigant application. Bayer is funding and driving all laboratory, field, regulatory, and market assessments in the target regions. (Press release link)

  • Janssen PMP, a division of Johnson & Johnson-owned Janssen Pharmaceutica NV

Global exclusive evaluation agreement for postharvest storage preservation of fruits and vegetables, excluding grains, potatoes, bananas and shipping container fumigation. Janssen PMP is funding and driving all application testing and development work. (Press release link)

  • NexusBioAg, a division of Univar Solutions

Exclusive marketing and distribution agreement in Canada for canola (clubroot disease) and pulse crops (aphanomyces disease). NexusBioAg is funding and driving all field development and regulatory work necessary for commercialization. (Press release link)

———

GLOBAL PROGRAM ADVANCEMENTS:

Soil Biofumigation
Sumitomo Corporation has continued to generate data across multiple crops, evaluating application timing, methods, and dose rates. Efficacy data generated across multiple countries and programs remains positive and has already resulted in new country expansions and program extension. MustGrow and Sumitomo Corporation are continually assessing market opportunities for further regional and application expansions. Utilizing MustGrow’s platform technology, Sumitomo Corporation currently has field trials and regulatory development work ongoing in the US, Mexico, and Chile.

In the US, EPA product registration work continues to advance, with Sumitomo Corporation playing a pivotal role in the registration approval process. In addition, Mexico registration work is progressing forward, as there have now been two consecutive years of successful field trials with Sumitomo Corporation. Mexico is a key global agriculture region both in size and strategic location. In Chile, registration work has commenced with the country approving an Experimental Use Permit to Sumitomo Corporation and MustGrow for field testing and registration activities.

Bayer’s initial laboratory and greenhouse studies utilizing MustGrow’s mustard-derived technology have been promising. Building on these positive results, Bayer and MustGrow have new trials underway and further studies planned across Europe, Asia and Africa. Bayer is evaluating registration pathways for multiple regions.

Building on their 2021 field trial program for treatment of canola (clubroot disease) and pulse crops (aphanomyces disease), NexusBioAg and MustGrow signed an Exclusive Marketing and Distribution Agreement in Canada. NexusBioAg intends to trial MustGrow’s technology in its 2023 BioAg Advantage program (“BAT“), which are wide-scale field trials conducted at the farmer level. NexusBioAg leverages its BAT program to introduce new and exciting potential ‘portfolio’ products to large Canadian farmers.

Postharvest Food Preservation
Harnessing MustGrow’s mustard-derived biological agent as a postharvest fruit and vegetable application, Janssen PMP has demonstrated initial success in decay, fungal, and bacterial disease efficacy. Advancing to the next stage, Janssen PMP’s testing program will focus on phytotoxicity, residues, application rates, application methods and dose timing. As food preservation is a critical global issue, reducing postharvest fruit and vegetable losses could substantially increase worldwide food availability.

MustGrow had previously tested its organic mustard-based technology and outperformed leading synthetic chemical standards for treatment of stored potatoes for both Fusarium dry rot disease and sprouting. No disease/sprouting combination solutions currently exist in the marketplace, making MustGrow’s application unique in addressing both issues simultaneously. Leading sprout inhibiter chlorpropham (CIPC) had been banned by the European Union as of Oct. 8, 2020. Sumitomo Corporation is advancing this program in the US with trials and data review ongoing.

Bioherbicide
MustGrow’s bioherbicide program is now focused on extraction optimization and formulation work. Perfomance and efficacy knowledge utilizing the mustard-derived Thiocyanate molecule, both internally and externally, has demonstrated potential impact as both a stand alone and combination herbicide in multiple markets. MustGrow is focused on production parameters, improving formulations for application flexibility, and the potential to combine MustGrow’s bioherbicide with leading chemicals.

———

About MustGrow
MustGrow is an agriculture biotech company developing organic biopesticides and bioherbicides by harnessing the natural defense mechanism of the mustard plant to protect the global food supply from diseases, insect pests, and weeds. MustGrow and its leading global partners — Janssen PMP (pharmaceutical division of Johnson & Johnson), Bayer, Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions to potentially replace harmful synthetic chemicals. Over 100 independent tests have been completed, validating MustGrow’s safe and effective approach to crop and food protection. Pending regulatory approval, MustGrow’s patented liquid products could be applied through injection, standard drip or spray equipment, improving functionality and performance features. Now a platform technology, MustGrow and its global partners are pursuing applications in several different industries from preplant soil treatment and weed control, to postharvest disease control and food preservation. MustGrow has approximately 49.2 million basic common shares issued and outstanding and 55.6 million shares fully diluted. For further details, please visit www.mustgrow.ca.

ON BEHALF OF THE BOARD

“Corey Giasson”

Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca

MustGrow Forward-Looking Statements

Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.

Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: (i) potential product approvals; (ii) anticipated actions by partners to drive field development work including dose rates, application frequency, application methods, and the regulatory work necessary for commercialization; (iii) expected product efficacy of MustGrow’s mustard-based technologies; and (iv) expected outcomes from collaborations with commercial partners.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow. Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) the preferences and choices of agricultural regulators with respect to product approval timelines; (ii) the ability of MustGrow’s partners to meet obligations under their respective agreements; and (iii) other risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2021 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.

This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.

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

© 2022 MustGrow Biologics Corp. All rights reserved.

Release – Schwazze Signs Definitive Documents To Acquire Certain Assets Of Lightshade Labs LLC

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on SHWZ

Continues to Go Deep, Adding to Retail Footprint in Colorado

DENVER, CO – September 14, 2022 – Schwazze, (OTCQX:SHWZ NEO:SHWZ) (“Schwazze” or the “Company”), announced that it has signed definitive documents to acquire certain assets of Lightshade Labs LLC (“Lightshade”). The proposed transaction includes the adult use Lightshade dispensaries located at 503 Havana St. in Aurora, as well as 2215 E. Mississippi Ave. in Denver’s vibrant Washington Park neighborhood. This acquisition continues Schwazze’s aggressive expansion in Colorado and upon close will bring the Company’s total number of Colorado dispensaries to 25.

The consideration for the proposed acquisition is US$2.75 million and will be paid as all cash. The acquisition is expected to close in the first quarter of 2023 after Colorado Marijuana Enforcement Division and local licensing approval.

“Schwazze is excited to add to our retail footprint in the greater Denver area, providing two additional retail locations to our existing 23 throughout Colorado. We look forward to extending our exceptional customer service and wide product selection to both new and existing customers in these new locations.” said Collin Lodge, Division President of Colorado.

Since April 2020, Schwazze has acquired or announced the planned acquisition of 35 cannabis dispensaries as well as seven cultivation facilities and two manufacturing assets in Colorado and New Mexico. In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.

About Schwazze

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

Forward-Looking Statements

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

Investors
Joanne Jobin
Investor Relations
Joanne.jobin@schwazze.com
647 964 0292		Media
Julie Suntrup, Schwazze
Vice President | Marketing & Merchandising
julie.suntrup@schwazze.com
303 371 0387

Great Lakes Dredge & Dock (GLDD) – NYC NDRS

Posted on by cpatches


Thursday, September 15, 2022

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

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

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

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

NDRS. We hosted Great Lakes CEO & President Lasse Petterson and CFO Scott Kornblau for a series of investor meetings in New York City on Tuesday. Following are some highlights from the meetings.

Improving Bid Environment. Management noted the bid environment has improved dramatically from 1H22 and it looks like the recent momentum will continue into the fourth quarter. If trends continue, the overall 2022 bid market could end up exceeding the strong 2021 bid market.


Get the Full Report

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. 

Proof-of-Stake Vs. Proof-of-Work

Posted on by cpatches
Image Credit: QuoteInspector.com (Flickr)

What is Proof-of-Stake? A Computer Scientist Explains a New Way to Make Cryptocurrencies, NFTs and Metaverse Transactions

Proof-of-stake is a mechanism for achieving consensus on a blockchain. Blockchain is a technology that records transactions that can’t be deleted or altered. It’s a decentralized database, or ledger, that is under no one person or organization’s control. Since no one controls the database, consensus mechanisms, such as proof-of-stake, are needed to coordinate the operation of blockchain-based systems.

While Bitcoin popularized the technology, blockchain is now a part of many different systems, enabling interesting applications such as decentralized finance platforms and non-fungible tokens, or NFTs.

The first widely commercialized blockchain consensus mechanism was proof-of-work, which enables users to reach consensus by solving complex mathematical problems. For solving these problems, users are commonly provided stake in the system. This process, dubbed mining, requires large amounts of computing power. Proof-of-stake is an alternative that consumes far less energy.

At its core, blockchain technology provides three important properties:

Decentralized governance and operation – the people using the system get to collectively decide how to govern and operate the system.

Verifiable state – anyone using the system can validate the correctness of the system, with each user being able to ensure that the system is currently working as expected and has been since its inception.

Resilience to data loss – even if some users lose their copy of system data, whether through negligence or cyberattack, that data can be recovered from other users in a verifiable manner.

The first property, decentralized governance and operation, is the property that controls how much energy is needed to run a blockchain system.

Voting in Blockchain Systems

Blockchain systems use voting to decentralize governance and operation. While the exact mechanisms for how voting and consensus are achieved differ in each blockchain system, at a high level, blockchain systems allow each user to vote on how the system should work, and whether any given operation – accepting a new block into the chain, for example – should be approved.

Traditionally, voting requires that the identity of the people casting ballots can be known and verified to ensure that only eligible people vote and do so only once. Some blockchain systems allow users to present a digital ID to prove their identity, enabling voting with negligible energy usage.

However, in most blockchain systems, users are anonymous and have no digital ID that can prove their identity. What, then, stops an individual from pretending to be many individuals and casting many votes? There are several different approaches, but the most used is proof-of-work.

In proof-of-work, users get votes based on the amount of computational power they have in proportion to other users. They demonstrate their ownership of this computational power by solving difficult mathematical problems. If one user can solve twice as many problems as another user, they have twice the computational power as other users and get twice as many votes.

However, solving these mathematical problems is extremely energy intensive, leading to complaints that proof-of-work is not sustainable.

Proof-of-Stake

To address the energy consumption of proof-of-work, another way to validate users is needed. Proof-of-stake is one such method. In proof-of-stake, users validate their identities by demonstrating ownership of some asset on the blockchain. For example, in Bitcoin, this would be ownership of bitcoins, and in Ethereum, it is ownership of Ether.

Though this does require users to temporarily lock their assets in the blockchain for a period of time, it is far more efficient because it requires negligible energy expenditure. By the company’s estimation, moving from proof-of-work to proof-of-stake will reduce Ethereum’s energy consumption by 99.95%.

Ethereum’s ‘Merge’

This improved energy efficiency is why many blockchain systems intend to transition away from proof-of-work to proof-of-stake. Ethereum plans to make this change during the week of Sept. 15, 2022. This is known as the Merge. During this merge, operations will shift from being voted on using proof-of-work to being voted on using proof-of-stake. At the completion of the merge, only proof-of-stake will be used to vote on transactions.

The hope is that this will set up Ethereum to be sustainable for the foreseeable future.

This article was republished  with permission from  The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and thoughts of Scott Ruoti, Assistant Professor of Computer Science, University of Tennessee

How Much More Will Your Paycheck be When Tax Brackets Adjust for Inflation?

Posted on by cpatches
Image Credit: Chris Potter (Flickr)

Increased Take Home Pay in 2023 Thanks to the IRS (and Inflation)

If two negatives make a positive, what do you get when you cross inflation with the IRS?

In addition to receiving much higher COLA increases on Social Security payments, and earning an interest rate in excess of 9% on US Savings Bonds, those making an income in 2023 are likely to see more take-home pay. This should happen whether or not they get a raise. An IRS calculation devised to prevent bracket creep is to thank for this. While high inflation is destructive, at least there are a few things that are put in place that will automatically adjust and help ease the pain.

The adjustment to tax brackets typically has had a minimal impact on workers paychecks. But the tax formulas that are law and the persistent inflation through 2022 point to significant impact on workers 2023 tax bill. Next year when income tax thresholds and the standard deductions are raised, if all else is unchanged, there will be more money in the income earners’ pockets, and less going to the government.

How Much More?

According to an accounting professor at Northern Illinois University named Jim Young, a single taxpayer with $100,000 in adjusted gross income in 2023 could experience a tax savings of about $500, or $42 each month.

Contribution maximums are also expected to be raised where tax-advantaged savings for retirement could also help reduce tax burdens in the coming years. Estate and gift tax thresholds would also automatically be increased by as much as $2 million more for a couple.

The IRS makes the adjustments based on formulas and inflation data spelled out in the tax code. This is different than the headline CPI-U which is most often reported.  

The inflation measure used for the tax and contribution adjustments is the Chained Consumer Price Index (C-CPI-U), which takes into account the substitutions customers make when costs rise. The average of the chained CPI from September 2021 through August 2022 is used to calculate the 2023 adjustments, which the IRS will announce next month. These ultimately affect tax returns for the 2023 tax year filed in early 2024.

Price increases eroding purchasing power are running at the most rampant pace in forty years. Based on the current average of the C-CPI-U, here are estimates on what to expect, according to the American Enterprise Institute:

Tax levels and other tax bracket thresholds and breakpoints will increase by around 7% over 2022. The 2022 increase over 2021 was around 3%, which was the largest percentage increase in four years. For the tax year 2023, income earners will see the breakpoints moved by the most in 35 years.

The top federal income tax threshold in 2023 is expected to rise by nearly $50,000 next year for married couples, and that 37% rate will apply to income above $693,750. For individuals, the top tax bracket will start at $578,125.

The standard deduction for married couples is expected to be $27,700 for 2023, up from $25,900 this year, and $13,850 for individuals, up from $12,950. This is the amount that those who do not itemize deductions can reduce their W-2 federal income by before being subject to income tax.

The federal estate tax exclusion amount, what a person can protect from estate taxes, is $12.06 million this year. That’s expected to rise to $12.92 million by 2023, meaning a married couple can shield nearly $26 million from estate taxes.

The annual tax-free gift limit is expected to rise from $16,000 this year to $17,000 by 2023.

The maximum contribution amount for an individual retirement account is expected to jump to $6,500 for 2023, up from $6,000, where it has been since 2019. The maximum contribution allowed for a flexible health account is expected to increase to $3,050 in 2023, up from $2,850 this year.

The maximum contribution amount for a 401(k) or similar workplace retirement plan is governed by yet another formula that uses September inflation data. It is estimated that the contribution limit will increase to $22,500 in 2023 from $20,500 this year and the catch-contribution amount for those age 50 or more will rise from $6,500 to at least $7,500.

The child tax credit under current law is $2,000 per child is not adjusted for inflation. But the additional child tax credit, which is refundable and available even to taxpayers that have no tax liability, is adjusted for inflation. It is expected to increase from $1,500 to $1,600 in 2023.

For those that look forward to capping out payments to Social Security, there is bad news. This has also increased. According to the 2022 Social Security Trustees Report, the wage base tax rate is projected to increase 5.5% from $147,000 to $155,100 in 2023.

Costs are rising, but so are deductions. It’s improbable that the reduced taxes will offset skyrocketing inflation, but at least there is one financial category that is helped by the increases.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2022

https://www.wsj.com/articles/one-upside-to-high-inflation-lower-tax-bills-11663174727?mod=livecoverage_web

https://www.spamchronicles.com/high-inflation-brings-changes-to-your-tax-bill/

Release – Ocugen Announces Publication of a Comprehensive Review of BBV152 in Frontiers in Immunology

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on OCGN

September 14, 2022

  • Data include the persistence of immune responses and protection against variants of concern, especially Delta and Omicron
  • Ocugen has North American commercialization rights for BBV152, commercialized as COVAXIN™

MALVERN, Pa., Sept. 14, 2022 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced the publication “A comprehensive review of BBV152 vaccine development, effectiveness, safety, challenges, and prospects” appeared in Frontiers in Immunology. BBV152, commercialized as COVAXIN™, is developed and manufactured by Ocugen’s partner Bharat Biotech, a global leader in vaccine innovation based in Hyderabad, India. BBV152 is currently authorized by the World Health Organization, authorized under Emergency Use Authorization in 28 countries, and accepted as a COVID-19 vaccine to travel into over 85 countries. It is under clinical investigation by Ocugen in the United States for use in adults aged 18 years and older.

This review by Dotiwala and Upadhyay provides a detailed analysis of the immunogenicity, safety, and efficacy of BBV152—a whole virus inactivated vaccine and an important tool in the fight to control the COVID-19 pandemic. Additionally, BBV152 has a broader impact on public health, as it induces high neutralization efficacy against different SARS-CoV-2 variants of concern.

“Unfortunately, the COVID-19 pandemic is not yet over, despite the introduction of effective vaccines and a greater understanding of COVID-19 pathogenesis and transmission dynamics,” said David Fajgenbaum, MD, MBA, MSc, Assistant Professor of Medicine, Translational Medicine & Human Genetics, University of Pennsylvania, and Ocugen Vaccine Scientific Advisory Board member. “This study demonstrates durability through immune memory and a broader immune response with BBV152 and provides further evidence that additional vaccine options—including those built on a traditional vaccine platform—are needed.”

Findings include:

  • 77.8% and 93.4% protection from symptomatic COVID-19 disease and severe symptomatic COVID-19 disease respectively.
  • Studies in pediatric populations show superior immunogenicity (geometric mean titer ratio of 1.76 compared to an adult) with a seroconversion rate of >95%.
  • Reactogenicity and safety profiles were comparable across all pediatric age groups between 2-18 yrs.

The study concludes that BBV152 is a suitable alternative to mRNA vaccines.

About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve health and offer hope for patients across the globe. We are making an impact on patient’s lives through courageous innovation—forging new scientific paths that harness our unique intellectual and human capital. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with a single product, and we are advancing research in infectious diseases to support public health and orthopedic diseases to address unmet medical needs. 
Discover more at www.ocugen.com and follow us on Twitter and LinkedIn.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Contact:

Tiffany Hamilton
Head of Communications
IR@ocugen.com

Newrange Gold (NRGOF) – A Rendezvous with Destiny

Posted on by cpatches


Wednesday, September 14, 2022

Newrange is focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com .

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

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

New flagship project. Newrange signed a non-binding Letter of Intent (LOI) with Great Panther Mining Limited (NYSE American, GPL) to acquire a 100% interest in the past-producing Coricancha mine in central Peru. Management expects to sign a definitive agreement shortly. Coricancha is a high-grade, narrow-vein, gold-silver-copper-lead-zinc underground mine in the Central Polymetallic Belt of Peru. It is 90 kilometers east of Lima and includes a 600-tonne per day processing plant, dry-stack tailings storage facility and requisite surface and underground infrastructure.

Acquisition terms. Newrange has agreed to make a single cash payment of US$750,000 to Great Panther upon closing and the transaction will be on an “as-is” basis. Shareholder approval is not required. Because the acquisition is subject to financing, Newrange is considering a “one new for six old” share consolidation and subsequent name change to be effective upon closing. Closing is subject to certain conditions, including the completion of a definitive agreement, financing by Newrange, and receipt of all necessary third-party approvals.


Get the Full Report

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. 

Is a Rail Strike an Economic Train Wreck or an Opportunity?

Posted on by cpatches
Image Credit: Katherine Johnson (Flickr)

Any Rail Strike Would Surely Cause Transitory Inflation

There is something I taught myself years ago as a young trader on Wall Street. I appreciate this “skill” less and less as the years go on, but it has served me well. When news breaks, my mind shifts to asking, “for what sectors is this bullish and for what sectors is this bearish?” No attachment except money movement. There will be time for personal involvement with the event after the market closes. The news of a train strike that may begin on Friday is a good example. My investor mind was quick to try and determine what companies would benefit and also which could be hurt. I have no control over whether or not it happens, but I may be able to add to portfolio returns from it.  Meanwhile, at home, I’m stocking up on a few of the items often shipped by rail.

Below is some helpful information about this segment of the freight and shipping industry.

Background

Rail workers may go out on strike as early as Friday, September 16.

In the U.S. the Rail network runs almost 140,000 miles. Freight rail is an $80-billion industry operated by seven Class I railroads (railroads with operating revenues of $490 million or more), and 22 regional and 584 local/short line railroads.

More than 167,000 are employed across the U.S. It’s a safer and often more efficient means of shipping as it uses less energy and rides on a more cost-effective and safer infrastructure than trucking.

Heavy freight such as coal, lumber, metals, and liquids going long distances are likely to travel by rail or some combination of truck, rail, water, or pipeline. The rail network accounts for approximately 28% percent of U.S. freight movement by ton-miles (the distance and weight freight travels). So, by weight, 28% of what is shipped within the U.S. may get stalled in the event of a strike. This would significantly add to any supply chain issues currently being experienced. 

Unlike roadways, U.S. freight railroads are owned by private organizations that are responsible for their own maintenance and improvements.

What Would be Impacted

In all, 52 percent of rail freight cars carry bulk commodities such as agriculture and energy products, automobiles and components, construction materials, chemicals, equipment, food, metals, minerals, paper, and pulp. The remaining 48 percent onboard is generally being shipped in packaging that allows it to easily be moved onboard a plane, van, or other non-bulk carrier.

Source: Federal Railroad Administration

A rail strike would stop a high percentage of the transportation of food, lumber, coal, oil and other goods across the U.S.

Current Status

Rail stocks like Union Pacific ($UNP) and CSX ($CSX) are underperforming the market this week as rail workers’ unions continue to negotiate for higher pay and benefits. The unionized workers have the legal go-ahead to strike at the end of the week if no agreement is reached. This could impact all major U.S. railroads and cripple the supply chain on many raw materials until the dispute is settled. An immediate but temporary impact would be material shortages that would push prices up, largely at the producer level. These shortages should be resolved when the strike ends as increased price pressures should come back down. But the short-lived inflation will be additive to final goods prices for a period of time.

Eight of 12 labor unions have reached tentative agreements with railroad carriers. However, there are still disagreements over vacation, sick days, and attendance policies.

A “cooling off” period expires Friday, at which time workers can strike.

A freight rail shutdown would be expected to cost the U.S. economy around $2 billion per day, according to the Association of American Railroads. It would especially hit the energy sector hard as rail is the number one mode of transportation used by coal producers, according to the Energy Information Administration (EIA).

Take Away

A rail strike would hit multiple sectors as it could stop the transportation of food, lumber, coal, and other goods across the country. Much of what is shipped by train can’t easily be shipped by the already overburdened trucking industry.

A strike, if any, would put upward pressure on lumber, energy, and food prices. Assuming the strike gets resolved, these transit-related higher price pressures should prove to be transitory. As individuals, whether or not there is a strike is beyond our ability to change. If there is an industry sector or company that stands to improve earnings or a sector that may suffer losses, there should be no investor guilt in positioning investments in a way where the investor may prosper.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://railroads.dot.gov/rail-network-development/freight-rail-overview#:

https://www.bts.gov/sites/bts.dot.gov/files/docs/browse-statistical-products-and-data/pocket-guide-transportation/224731/pocket-guide-2019.pdf

https://www.barrons.com/articles/railroad-strike-truck-stocks-51663161990

EUREKA! AMC’s Large Stake in Gold Mining Company May Pay Off

Posted on by cpatches
Image Credit: AMC Theaters

AMC Diversified into Mining Last Winter – The Prospects Look Good

They should make a movie about the CEO of AMC Theaters, Adam Aron. But they ought to wait because it seems his story and that of AMC Theaters ($AMC) have a few more plot twists left. Yesterday AMC Shareholders struck gold. That is, the 22% of a gold mining operation in Nevada that AMC purchased in March returned extremely positive results as to the amount and quality of the yellow metal found in recent tests.

Let’s Rewind

In mid-March of this year AMC Theaters, coupled with Natural Resources Guru Eric Sprott, had taken a large stake in a gold and silver mining company. The company, Hycroft Mining Holdings ($HYMC), has a 71,000-acre gold mine in Northern Nevada. AMC’s stake was 22%. It invested $27.9 million in cash in Hycroft in exchange for 23.4 million warrant units, with each unit consisting of one common share of Hycroft and one common share purchase warrant. The units were priced at $1.193 a share, while each purchase warrant was priced at about $1.07 and carried a five-year term. HYMC had been trading in the $0.30 to $0.33 range when the deal was executed, as of September 14, the mining company was trading for $0.84 per share. AMC also was granted the right to appoint someone to Hycroft’s board.

Eric Sprott’s investment was made through a holding company for Sprott, not the alternative investment manager owned by Mr. Sprott, Sprott Inc. The holding company will make an equal investment in Hycroft with the same terms. Together, AMC and Sprott invested $56 million in the mining company.

So Far, So Good

The large stake taken by a completely unrelated business was ridiculed by many. One Seeking Alpha author called it a “Horror Story.” But the run-up in AMC’s stock from the short-squeeze in 2021 and its foresight to set aside capital for growth and diversification may have been smart. As of yesterday, the 22% stake in the uncorrelated business (Leisure vs Natural Resources) makes the CEO presiding over the popular meme-stock look like a hero.

According to a press release from Hycroft Mining, initial drill results from the test they conducted in different areas of the the property more than confirmed their expectations.

Alex Davidson, Vice President, Exploration at Hycroft commented, “These initial drill results confirm the higher-grade opportunities identified in the 2021 drill program. While we have only just begun investigating the planned targets of our 2022-23 drill program, these results are very encouraging and further confirm the importance of additional drilling to explore the untapped potential of the Hycroft deposit. Importantly, we are observing the high-grade zones are more continuous than previously interpreted in addition to seeing silver and gold grades significantly higher than the average grade at the Hycroft deposit.”

Adam Aron tweeted dramatically yesterday after the results were made public, exclaiming, “Eureka, In Hycroft’s early efforts, the biggest exploration program there in a decade, they found it! There’s MORE gold in them thar hills. And MORE silver. And it’s MUCH higher grade than previously known at the site. To my critics in the cheap seats: #AFeast of CrowStewForYou.

Take Away

The AMC story, so far this decade, is full of so many plot twists and unexpected events that it confounds even the most veteran market watchers.

High-level research and analysis for many natural resource producers is regularly posted on Channelchek, along with information on stocks within the leisure sector. Watch for continued updates on this story by signing up for Channelchek emails.

Paul Hoffman Managing Editor, Channelchek

Sources

https://twitter.com/CEOAdam/status/1569665358130475008

https://hycroftmining.com/_resources/news/Sept-13-2022-Initial-Drill-Results.pdf

https://seekingalpha.com/article/4499787-amc-stock-investing-hycroft-mining-horror-movie?