Month: January 2023

Release – Baudax Bio Announces Positive Outcome of Interim Analysis of Phase II Randomized Trial for BX1000

Posted on by aweinsoff@channelchek.com

Research News and Market Data on BXRX

January 24, 2023 8:00am EST

MALVERN, Pa., Jan. 24, 2023 (GLOBE NEWSWIRE) — Baudax Bio, Inc. (NASDAQ:BXRX) a pharmaceutical company focused on innovative products for hospital and related settings, today announced the successful outcome of its first interim analysis in a Phase II trial of BX1000 for neuromuscular blockade (NMB) in patients undergoing elective surgery.

“We are encouraged by the results of the first interim analysis of the BX1000 Phase II surgery trial,” said Gerri Henwood, Baudax Bio’s President and Chief Executive Officer. “We believe the use of BX1000, combined with our reversal agent, BX3000, could make for precise control of timing under neuromuscular paralysis for surgical patients, which could result in time and cost savings for patients and hospitals alike. We look forward to completing enrollment in the study in Q1 and sharing topline results for the study in April 2023.”

This randomized, double-blind, active-controlled clinical trial comparing three different doses of BX1000 to a standard dose of rocuronium is planned to enroll a total of 80 adult patients undergoing elective surgery utilizing total intravenous anesthesia. The primary efficacy endpoint is the proportion of patients meeting criteria for Good or Excellent intubating conditions using a standardized scale. Additionally, the trial is evaluating the safety and tolerability profile of BX1000 and rocuronium in this patient population.

This pre-planned interim analysis evaluated the intubating conditions for each patient after administration of study drug in a blinded fashion. In the 20-patient cohort, 5 patients per group received one of the study medications. All 20 patients were observed to have met the criteria for Good or Excellent intubating conditions at 60 seconds. Nineteen of the subjects were successfully intubated following the assessment at 60 seconds, and the one remaining subject following the assessment at 90 seconds. Study treatments were generally well tolerated with no occurrence of severe or serious adverse events.

This blinded interim analysis did not result in the decision to drop any of the four study groups nor any decision to adjust planned study enrollment numbers.

About Baudax Bio’s Neuromuscular Blocking Agents (NMBs)

Baudax Bio holds exclusive global rights to two novel NMBs, BX1000, an intermediate duration, clinical stage blocking agent, and BX2000, an ultra-short duration, clinical stage blocking agent, as well as a proprietary chemical reversal agent, BX3000, undergoing nonclinical studies intended to support an IND filing in 2023. BX3000 is a specific reversal agent that rapidly reverses BX1000 and BX2000. All three agents are licensed from Cornell University. We believe these agents allow for a very rapid induction of neuromuscular blockade for surgical settings, followed by a rapid reversal of the neuromuscular blockade. These novel agents have the potential to meaningfully reduce time to onset of blocking and of reversal of blockade, reducing time in operating rooms or post-acute care settings, resulting in potential clinical and cost advantages, as well as time-related valuable cost savings for hospitals and ambulatory surgical centers.

About Baudax Bio

Baudax Bio is a pharmaceutical company focused on innovative products for hospital and related settings. The Company has a pipeline of innovative pharmaceutical assets including two clinical-stage, novel neuromuscular blocking (NMBs) agents, one in a Phase II study and an additional unique NMB in a dose escalation Phase I study, as well as a proprietary chemical reversal agent specific to these NMBs. Baudax Bio has received approval for and marketed ANJESO®, the first and only 24-hour, intravenous (IV) COX-2 preferential non-opioid, non-steroidal anti-inflammatory (NSAID) for the management of moderate to severe pain. For more information, please visit www.baudaxbio.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements reflect Baudax Bio’s expectations about its future performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate,” “believe,” “estimate,” “may,” “upcoming,” “plan,” “target,” “goal,” “intend” and “expect” and similar expressions, as they relate to Baudax Bio or its management, are intended to identify such forward-looking statements. These forward-looking statements, which include statements relating to the development of each of BX1000 and BX3000, are based on information available to Baudax Bio as of the date of this press release and are subject to a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, among other things, risks related to market, economic and other conditions, the ongoing economic and social consequences of the COVID-19 pandemic, Baudax Bio’s ability to advance its current product candidate pipeline through pre-clinical studies and clinical trials, Baudax Bio’s ability to raise future financing for continued development of its product candidates such as BX1000, BX2000 and BX3000, Baudax Bio’s ability to pay its debt and satisfy conditions necessary to access future tranches of debt, Baudax Bio’s ability to comply with the financial and other covenants under its credit facility, Baudax Bio’s ability to manage costs and execute on its operational and budget plans, Baudax Bio’s ability to achieve its financial goals; Baudax Bio’s ability to comply with all listing requirements of the Nasdaq Capital Market; and Baudax Bio’s ability to obtain, maintain and successfully enforce adequate patent and other intellectual property protection. These forward-looking statements should be considered together with the risks and uncertainties that may affect Baudax Bio’s business and future results included in Baudax Bio’s filings with the Securities and Exchange Commission at www.sec.gov. These forward-looking statements are based on information currently available to Baudax Bio, and Baudax Bio assumes no obligation to update any forward-looking statements except as required by applicable law.

CONTACT:

Investor Relations Contact:

Argot Partners
Sam Martin / Kaela Ilami
(212) 600-1902
baudaxbio@argotpartners.com

Media Contact:

Argot Partners
David Rosen
(212) 600-1902
david.rosen@argotpartners.com

Source: Baudax Bio, Inc.

Released January 24, 2023

Release – Defense Metals announces best Rare Earth Assay Results of 2022 from Wicheeda Project Drilling, including 138 metres of 3.66% TREO

Posted on by aweinsoff@channelchek.com

Research News and Market Data on DFMTF

Jan 24, 2023, 09:00 ET

VANCOUVER, BC, Jan. 24, 2023 /CNW/ – Defense Metals Corp. (“Defense Metals” or the “Company”; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce Rare Earth Element (“REE”) assay results from the final two core drill holes, totalling 295 metres (“m”), completed during 2022 at its 100% owned Wicheeda REE Deposit. These assay results are from two exploration geotechnical core drill holes. The final drill hole (WI22-79) returned the best drill intercept on a grade-times-width basis of the entire 18-hole 5,510 m (~18,077 feet) 2022 campaign.

Figure 1. Wicheeda REE Deposit Cross Section Looking North (CNW Group/Defense Metals Corp.)
Figure 1. Wicheeda REE Deposit Cross Section Looking North (CNW Group/Defense Metals Corp.)
Image 1: REE Mineralization Within WI22-79 (49-63.9m interval grades 5.47% TREO) (CNW Group/Defense Metals Corp.)
Image 1: REE Mineralization Within WI22-79 (49-63.9m interval grades 5.47% TREO) (CNW Group/Defense Metals Corp.)

Pit slope geotechnical drill hole WI22-78 (-60o dip at azimuth 200o) drilled into the west pit wall intersected well mineralized dolomite carbonatite that assayed 2.63% total rare earth oxide (“TREO”) over 97 metres (“m”) from surface within a broader mineralized one returning 2.03% TREO over 168 m (see Table 1 and Figure 1).

The final drill hole, WI22-79 (-65o dip at 095o azimuth), drilled within the central area of the Wicheeda Deposit and into the east pit wall intersected an upper high-grade mineralized dolomite-carbonatite interval from surface assaying 3.66% TREO over 138 m; and lower interval grading 0.50% TREO over 43 m (see Table 1 Figure 1, and Image 1).

The upper interval in WI22-79 represents the best mineralized intercept returned of all 2022 holes and ranks among the top 10 reported drill intercepts of the more than 10,000 m drilled in 47 holes Defense Metals has completed post-PEA (see “About the Wicheeda REE Project“). 

 Luisa Moreno, President, and Director of Defense Metals stated:

“The economic significance of the Wicheeda REE Project is underscored by the fact that the final drill hole yielded the best drill intercept of the 2022 campaign. Since the release of our positive PEA based on drilling completed up to the end of 2019, the last two years of exploration at Wicheeda has focused on resource expansion, delineation, and detailed pit slope geotechnical drilling designed to place us solidly on the path towards initiation of a Preliminary Feasibility Study (PFS). With critical minerals and particularly rare earth elements coming into sharper focus as part the rapidly accelerating transition to electric vehicles, Defense Metals looks forward to continuing to advance the social-environmental, metallurgical, engineering, and geotechnical aspects of the Wicheeda REE Project during 2023.”

Table 1. Final Wicheeda REE Deposit 2022 Diamond Drill Intercepts1

1 The true width of REE mineralization is estimated to be 70-100% of the drilled interval.
2 TREO % sum of CeO2, La2O3, Nd2O3, Pr6O11, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3 and Ho2O3.

About the Wicheeda REE Project

The 100% owned, 4,262-hectare (~10,532-acre) Wicheeda REE Project is located approximately 80 km northeast of the city of Prince George, British Columbia; population 77,000. The Wicheeda project is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, gas pipelines, the Canadian National Railway, and major highways.

The 2021 Wicheeda REE Project Preliminary Economic Assessment technical report (“PEA”) outlined a robust after-tax net present value (NPV@8%) of $517 million and an 18% IRR3. This PEA contemplated an open pit mining operation with a 1.75:1 (waste:mill feed) strip ratio providing a 1.8 Mtpa (“million tonnes per year”) mill throughout producing an average of 25,423 tonnes REO annually over a 16 year mine life. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.

Methodology and Quality Assurance/Quality Control

The analytical work reported on herein was performed by ALS Canada Ltd. (“ALS”) at their Langley (sample preparation) and Vancouver (ICP-MS fusion), B.C. facilities. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. A 0.1-gram sample pulp was then subject to multi-element ICP-MS analysis via lithium-borate fusion to determine individual REE content (ME-MS81h). Defense Metals follows industry standard procedures for the work carried out on the Wicheeda Project, with a quality assurance/quality control (“QA/QC”) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Defense Metals detected no significant QA/QC issues during review of the data.

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (B.C.), Principal and Consultant of APEX Geoscience Ltd. of Edmonton, Alberta, who is a director of Defense Metals and a “Qualified Person” (“QP”) as defined in NI 43-101. Mr. Raffle has verified the data, which included a review of the sampling, analytical and test methods underlying the data, information and opinions disclosed herein.

__________________________

3 Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).

About Defense Metals Corp.

Defense Metals Corp. is a company focused on the development of its 100% owned Wicheeda Rare Earth Element mineral deposit, located near Prince George, British Columbia, Canada, that contains metals and elements commonly used in in green energy, aerospace, automotive and defense technologies. Rare earth elements are especially important in the production of magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca

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

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward–looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, the Company’s plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, plans to complete a PFS, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.

SOURCE Defense Metals Corp.

Release – Cypress Development to Change Name To Century Lithium Corp

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CYDVF

January 24, 2023

January 24, 2023 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ( “Cypress” or “the Company”) announces that the Board of Directors has approved a name change of the Company from Cypress Development Corp. to Century Lithium Corp.

The Company will also change the ticker symbol upon which it trades on the TSX Venture Exchange (“TSXV”).  The Company will issue a further news release announcing the date that trading under the new name, symbol and CUSIP number will commence.  The name change remains subject to TSXV approval.

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.

Release – Tonix Pharmaceuticals Announces Publication of Paper in Antiviral Research Highlighting the Company’s Development of Monoclonal Antibody Therapeutics for Monkeypox and Smallpox

Posted on by aweinsoff@channelchek.com

Research News and Market Data on TNXP

January 24, 2023 7:00am EST

Data Represent Research and Development Work Being Conducted at Tonix’s Infectious Disease R&D Center (RDC) in Frederick, Md.

CHATHAM, N.J., Jan. 24, 2023 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix or the Company), a clinical-stage biopharmaceutical company, today announced the publication of a paper entitled, “Development of a rapid image-based high-content imaging screening assay to evaluate therapeutic antibodies against the monkeypox virus,” in the journal Antiviral Research. The publication describes the development and optimization of two high-content image-based assays that were employed to screen for potential therapeutic antibodies against the monkeypox virus using surrogate poxviruses such as vaccinia virus. The article highlights Tonix’s TNX-3400 platform, which includes antibodies to potentially prevent or treat monkeypox and smallpox. The article can be accessed online at https://pubmed.ncbi.nlm.nih.gov/36592670/.

“These data represent the first wave of research and development conducted at our Infectious Disease R&D Center (RDC) in Frederick, Md,” said Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals. “The RDC greatly enhances our ability to advance development of our pipeline of vaccines and therapeutics for infectious diseases. The TNX-3400 platform has promise for preventative and therapeutic monoclonal antibodies to treat monkeypox and smallpox.”

“The article describes how we optimized and standardized two high-content high-throughput image-based assays. The first assay was a neutralizing assay which detected viral proteins of vaccinia virus and used the assay to screen a large library of antibodies made against pox viruses. The second assay specifically detected phenotype changes in cells, called syncytia, after infection and protection by therapeutics.” said Sina Bavari, Ph.D., Executive Vice President of Tonix Pharmaceuticals and site director of the RDC. A critical component in assessing antibodies during pandemics requires the development of rapid but detailed methods to detect and quantitate the neutralization activity. “The neutralizing assay identified several antibodies with the capacity to protect against vaccinia virus infection. We believe this technology will allow us to identify combination therapies for monkeypox and smallpox viruses which was difficult to achieve before. Furthermore, our data suggest that applying this technology has the potential to increase the throughput of screening novel antivirals to shorten the discovery time for antivirals.”

About TNX-3400

TNX-3400 is the term for series of monoclonal antibodies which bind to key components of pox viruses such as monkeypox and smallpox and protect cells and tissues from infection with these pandemic causing viruses. These antibodies are being developed as broad-spectrum antipox virus and to potentially prevent or treat monkeypox and smallpox infection.

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 third quarter 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 first quarter of 2023. TNX-601 ER (tianeptine hemioxalate extended-release tablets) is a once-daily formulation of tianeptine being developed as a potential treatment for major depressive disorder (MDD) with a Phase 2 study expected to be initiated in the first quarter of 2023. 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 (CD40L or CD154) 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 first half of 2023. Tonix’s infectious disease pipeline includes a vaccine in development to prevent smallpox and monkeypox, TNX-801, a next-generation vaccine to prevent COVID-19, TNX-1850, a platform to make fully human monoclonal antibodies to treat COVID-19, TNX-3600, and humanized anti-SARS-CoV-2 monoclonal antibodies, TNX-3800, recently licensed from Curia. 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 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 January 24, 2023

Release – CoreCivic Announces 2022 Fourth Quarter Earnings Release and Conference Call Dates

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CXW

January 24, 2023

BRENTWOOD, Tenn., Jan. 24, 2023 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2022 fourth quarter financial results after the market closes on Wednesday, February 8, 2023. A live broadcast of CoreCivic’s conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, February 9, 2023.

To participate via telephone and join the call live, please register in advance here https://register.vevent.com/register/BId87fe936f05a41fa8057f46bf4310550. Upon registration, telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number and a unique passcode.

Participants may access the audio-only webcast of the conference call from the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page. A replay of the webcast will be available for seven days.

About CoreCivic

CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believe we are the largest private owner of real estate used by government agencies in the United States. We have been a flexible and dependable partner for government for 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com.

Contact:  Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
   Media: Steve Owen – Vice President, Communications – (615) 263-3107

Harte Hanks (HHS) – Trends Appear Favorable

Posted on by cpatches


Tuesday, January 24, 2023

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 .

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

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

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

Q4 Preview. Fundamentals at the company appear favorable and Q4 revenue and adj. EBITDA estimates appear to be on target. We are adjusting our EPS estimate to reflect the repurchase of its convertible preferred shares with Wipro. The agreement was for liquidation value at $9.9 million, plus 100,000 HHS shares. Due to an accounting treatment, the company is expected to report a non cash $1.6 million loss on the repurchase. We are adjusting our Q4 EPS from $0.34 to $0.12 to reflect this charge. 

Q1 Outlook. The company’s first quarter revenue mix is expected to skew toward lower margin revenue business, plus the company is expected to spend more heavily on technology investments and for the integration of a recent acquisition, InsideOut. Q1 revenues are expected to increase year over year, but Adj. EBITDA is expected to be lower. 


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Tokens.com Corp. (SMURF) – Touched by Genesis

Posted on by cpereira@noblefcm.com


Tuesday, January 24, 2023

Tokens.com Corp is a publicly traded company that invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming based digital assets. Tokens.com is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned Tokens.com subsidiary, focuses on investing in play-to-earn revenue generating gaming tokens and NFTs. Additionally, Tokens.com owns and stakes crypto assets to earn additional tokens. Through its growing digital assets and NFTs, Tokens.com provides public market investors with a simple and secure way to gain exposure to Web3.

Joe Gomes, Managing Director – Generalist 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.

Genesis Global. In a recurring theme in the crypto space lately, last week Genesis Global Holdco LLC, the holding company of troubled cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection. Notably, in its filing, Genesis Global Capital said it expects that through the restructuring process, there will be money left over to pay unsecured creditors.

Tokens.com Impact. Tokens.com has an open loan facility with Genesis, for which the Company is required to post collateral in token assets. Based on the closing price on January 19, 2023, this collateral was worth US$749,000. Tokens.com has a loan outstanding against this collateral of US$138,000. The difference between the collateral and the loan value represents approximately 3.1% of Tokens.com’s total assets of US$20.0 million as at September 30, 2022. Tokens.com has requested to have its collateral returned and repay the loan outstanding in full.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Permex Petroleum (OILCD) – Permex held a call updating investors

Posted on by cpereira@noblefcm.com


Tuesday, January 24, 2023

Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.

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

Production from first drilled well is coming. The Eoff PPC #3 well in the Breedlove Field was completed in October and is going through a Flowback Recovery Period (removal of liquids). It was shut down due to freezing temperatures. Management expects full production by the end of February and will disclose flow rates then. The company hinted that it will probably go forward with converting the well to a horizontal well at an additional $1.1 million cost.

Cash is tight. Permex’s cash position is down to $2.5 million, not enough to drill another well. The company is opposed to taking on debt (which we agree with) because debt is the Achilles heel of start-up energy companies should energy prices decline. The company discussed selling acreage but indicated that it neither has a large contiguous field to sell (outside of its Breedlove Field position) nor does it have small, producing property that might be of interest to energy companies. Management would like to issue stock but not at the current stock price of 4% of net asset value.


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What MRI and fMRI Scans of Programmers’ Brains Reveal

Posted on by phoffman@channelchek.com
Image Credit: Alex Shipps (Canva)

This is Your Brain – This is Your Brain on Code

Steve Nadis | MIT CSAIL

Functional magnetic resonance imaging (fMRI), which measures changes in blood flow throughout the brain, has been used over the past couple of decades for a variety of applications, including “functional anatomy” — a way of determining which brain areas are switched on when a person carries out a particular task. fMRI has been used to look at people’s brains while they’re doing all sorts of things — working out math problems, learning foreign languages, playing chess, improvising on the piano, doing crossword puzzles, and even watching TV shows like “Curb Your Enthusiasm.”

One pursuit that’s received little attention is computer programming — both the chore of writing code and the equally confounding task of trying to understand a piece of already-written code. “Given the importance that computer programs have assumed in our everyday lives,” says Shashank Srikant, a PhD student in MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), “that’s surely worth looking into. So many people are dealing with code these days — reading, writing, designing, debugging — but no one really knows what’s going on in their heads when that happens.” Fortunately, he has made some “headway” in that direction in a paper — written with MIT colleagues Benjamin Lipkin (the paper’s other lead author, along with Srikant), Anna Ivanova, Evelina Fedorenko, and Una-May O’Reilly — that was presented earlier this month at the Neural Information Processing Systems Conference held in New Orleans.

The new paper built on a 2020 study, written by many of the same authors, which used fMRI to monitor the brains of programmers as they “comprehended” small pieces, or snippets, of code. (Comprehension, in this case, means looking at a snippet and correctly determining the result of the computation performed by the snippet.) The 2020 work showed that code comprehension did not consistently activate the language system, brain regions that handle language processing, explains Fedorenko, a brain and cognitive sciences (BCS) professor and a coauthor of the earlier study. “Instead, the multiple demand network — a brain system that is linked to general reasoning and supports domains like mathematical and logical thinking — was strongly active.” The current work, which also utilizes MRI scans of programmers, takes “a deeper dive,” she says, seeking to obtain more fine-grained information.

Whereas the previous study looked at 20 to 30 people to determine which brain systems, on average, are relied upon to comprehend code, the new research looks at the brain activity of individual programmers as they process specific elements of a computer program. Suppose, for instance, that there’s a one-line piece of code that involves word manipulation and a separate piece of code that entails a mathematical operation. “Can I go from the activity we see in the brains, the actual brain signals, to try to reverse-engineer and figure out what, specifically, the programmer was looking at?” Srikant asks. “This would reveal what information pertaining to programs is uniquely encoded in our brains.” To neuroscientists, he notes, a physical property is considered “encoded” if they can infer that property by looking at someone’s brain signals.

Take, for instance, a loop — an instruction within a program to repeat a specific operation until the desired result is achieved — or a branch, a different type of programming instruction than can cause the computer to switch from one operation to another. Based on the patterns of brain activity that were observed, the group could tell whether someone was evaluating a piece of code involving a loop or a branch. The researchers could also tell whether the code related to words or mathematical symbols, and whether someone was reading actual code or merely a written description of that code.

That addressed a first question that an investigator might ask as to whether something is, in fact, encoded. If the answer is yes, the next question might be: where is it encoded? In the above-cited cases — loops or branches, words or math, code or a description thereof — brain activation levels were found to be comparable in both the language system and the multiple demand network.

A noticeable difference was observed, however, when it came to code properties related to what’s called dynamic analysis.

Programs can have “static” properties — such as the number of numerals in a sequence — that do not change over time. “But programs can also have a dynamic aspect, such as the number of times a loop runs,” Srikant says. “I can’t always read a piece of code and know, in advance, what the run time of that program will be.” The MIT researchers found that for dynamic analysis, information is encoded much better in the multiple demand network than it is in the language processing center. That finding was one clue in their quest to see how code comprehension is distributed throughout the brain — which parts are involved and which ones assume a bigger role in certain aspects of that task.

The team carried out a second set of experiments, which incorporated machine learning models called neural networks that were specifically trained on computer programs. These models have been successful, in recent years, in helping programmers complete pieces of code. What the group wanted to find out was whether the brain signals seen in their study when participants were examining pieces of code resembled the patterns of activation observed when neural networks analyzed the same piece of code. And the answer they arrived at was a qualified yes.

“If you put a piece of code into the neural network, it produces a list of numbers that tells you, in some way, what the program is all about,” Srikant says. Brain scans of people studying computer programs similarly produce a list of numbers. When a program is dominated by branching, for example, “you see a distinct pattern of brain activity,” he adds, “and you see a similar pattern when the machine learning model tries to understand that same snippet.”

Mariya Toneva of the Max Planck Institute for Software Systems considers findings like this “particularly exciting. They raise the possibility of using computational models of code to better understand what happens in our brains as we read programs,” she says.

The MIT scientists are definitely intrigued by the connections they’ve uncovered, which shed light on how discrete pieces of computer programs are encoded in the brain. But they don’t yet know what these recently-gleaned insights can tell us about how people carry out more elaborate plans in the real world. Completing tasks of this sort — such as going to the movies, which requires checking showtimes, arranging for transportation, purchasing tickets, and so forth — could not be handled by a single unit of code and just a single algorithm. Successful execution of such a plan would instead require “composition” — stringing together various snippets and algorithms into a sensible sequence that leads to something new, just like assembling individual bars of music in order to make a song or even a symphony. Creating models of code composition, says O’Reilly, a principal research scientist at CSAIL, “is beyond our grasp at the moment.”

Lipkin, a BCS PhD student, considers this the next logical step — figuring out how to “combine simple operations to build complex programs and use those strategies to effectively address general reasoning tasks.” He further believes that some of the progress toward that goal achieved by the team so far owes to its interdisciplinary makeup. “We were able to draw from individual experiences with program analysis and neural signal processing, as well as combined work on machine learning and natural language processing,” Lipkin says. “These types of collaborations are becoming increasingly common as neuro- and computer scientists join forces on the quest towards understanding and building general intelligence.”

Reprinted with permission from MIT News” ( http://news.mit.edu/ )

Causes of Paused or  Halted Trading in Company Stocks

Posted on by phoffman@channelchek.com
Image credit: Alex Proimos (Flickr)

Discovering Why Trading is Halted on One of Your Stocks

Fair and orderly trading is an admirable goal of any system of exchange. As part of this ideal, exchanges, the SEC, and brokers can temporarily halt trading in stocks. The impact of news, or tripped circuit breakers designed to decelerate snowballing reactions (both human and programmed reactions), are the most common reasons to halt trading. There have also been events when a computer glitch, either feeding into an exchange or into the exchange’s systems, has triggered a pause or a halt. A total of 77 stocks were reportedly halted after the opening on the NYSE (January 24). They were all labeled “LULD,” this code is used to indicate it was a volatility trading pause. But officials at the NYSE say they’re still looking into it.

Reasons to Halt Trading

Companies listed on a U.S. stock exchange are responsible for notifying the listing exchange about any announcements or corporate developments that might affect trading in its stock. These often include:

  • Changes related to the financial health of the company
  • Changes in key management individuals
  • Major corporate transactions like restructurings or mergers
  • Significant positive or negative information about its products
  • Legal or regulatory developments that affect the company’s ability to conduct business
  • A circuit breaker has been reached due to volatility

Stock Halt Codes

Each day the exchanges list stocks as they are paused or halted and include a code to indicate the reason. The codes help market participants understand for how long it may be halted and for what general reason. It’s a good idea to be familiar with the codes shown below.

LUDP or LULD: Volatility trading pause (high volatility risk for investors).

T1: News pending (halted to give investors of all varieties ample time to evaluate).

H10: This is not enacted by the exchange but instead by the SEC (could be any number of regulatory reasons).

Image: Two of the many stocks halted on January 24, 2023 (NYSE Website)

The reason for the recent multiple stock pauses was available immediately on the NYSE website. Many of the stocks showed they were opening down substantially; the exchange says they are looking into this further.  

There are also times when a circuit breaker stops trading across the market exchange. This is not the reason for the multiple pauses experienced in January, but also worth mentioning. There are three levels of halt based on size of the markets (S&P 500) move.

Level 1: 15-minute halt due to a 7% decrease from the S&P 500’s previous close

Level 2: 15-minute halt due to a 13% decrease from the S&P 500’s previous close

Level 3: Day-long halt due to a 20% decrease from the S&P 500’s previous close

Take Away

When the market opens and it is not business as usual, a lot of frustration can be saved by knowing market rules and finding resources to get a fast answer. While other traders wait for their favorite news service to report on it, going directly to the NYSE website to, in this case, get a listing of affected stocks and why, can put you ahead of those that are waiting for CNBC or another news outlet. Nasdaq also will post paused or halted stocks and use the same codes as above to indicate why.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://www.forexfactory.com/news/1201898-nyse-trading-open-sees-unusual-number-of-halted

https://www.zerohedge.com/markets/market-goes-haywire-dozens-nyse-trading-halts-open-after-technical-glitch

https://www.finra.org/investors/investing/investment-products/stocks/trading-halts-delays-suspensions

https://www.bloomberg.com/news/articles/2023-01-24/nyse-sees-unusual-number-of-trading-halts-at-open-of-trading-ldacqfyp?srnd=premium

https://www.nyse.com/trade-halt-current

Release – Axcella Announces Regulatory Path to Registration of AXA1125 for Long COVID Fatigue

Posted on by aweinsoff@channelchek.com

Research News and Market Data on AXLA

January 23, 2023 at 4:15 PM EST

MHRA guidance aligns on key measurements for a registration trial, including primary endpoint and trial design elements

IND for phase 2b/3 trial submitted to the FDA

Axcella to host a conference call Tuesday, January 24 at 8:00 a.m. ET; To register, click here

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Jan. 23, 2023– Axcella Therapeutics (Nasdaq: AXLA), a clinical-stage biotechnology company pioneering novel approaches to treating complex diseases using multi-targeted endogenous metabolic modulator (EMM) compositions, announced a regulatory path to registration of AXA1125 in the treatment of Long COVID Fatigue. The company reported that it had received regulatory guidance from The Medicines and Healthcare products Regulatory Agency (MHRA), the U.K.’s regulatory agency, supporting a single trial that could serve as the registration trial for patients with Long COVID fatigue, and aligning on key measurements, including primary endpoint and trial design. Axcella will be meeting with the MHRA in the near term to discuss the Innovative Licensing and Access Pathway (ILAP) application. The company further reported submission of an Investigational New Drug (IND) Application to the U.S. Food and Drug Administration (FDA) for a Phase 2b/3 trial.

These efforts follow submission of materials to both regulatory agencies including results from the Phase 2a randomized, double-blind, placebo-controlled investigation to evaluate the efficacy and safety of AXA1125 in patients with fatigue related to Long COVID. Notably, in this study subjects who received AXA1125 experienced clinically and statistically significant improvement in mental (p=0.0097) and physical (p=0.0097) fatigue scores compared to placebo subjects.

Long COVID is a persistent and growing long-term part of the pandemic, affecting an estimated one hundred million patients worldwide, with fatigue as the most commonly reported symptom. Recent estimates indicate that 15-20% of Americans with COVID have persisting health issues,i up to four million Americans are out of work due to Long COVID symptoms, and that Long COVID has contributed to approximately $1 trillion in lost earnings and $544 billion in increased medical spending.ii

“At Axcella, we are gratified and validated that there is a clear path to advance the Long COVID program into a potential registration trial with a leading regulator,” said Bill Hinshaw, CEO of Axcella. “This treatment could help millions of people around the world and there are no other agents that have demonstrated impact on the level of fatigue in a controlled trial. Many stakeholders have been eagerly anticipating a regulatory path in this new, important, and widespread disease and it is exciting to have this milestone achieved. With additional resources or collaboration, this program has the potential to advance and quickly reach patients in need.”

“We were pleased to have such constructive engagement with the MHRA, who have consistently recognized the urgent needs of patients and the healthcare system in the U.K. and have taken a rigorous and engaged, forward-looking approach to addressing Long COVID,” said Margaret Koziel, M.D., Chief Medical Officer of Axcella. “The tenor of the MHRA response and the results of our trial informed our recently completed FDA IND submission for our phase 2b/3 Long COVID trial. AXA1125 is the most advanced clinical-stage program for this devastating disease and we look forward to the opportunity to conduct a global trial that has the potential to rapidly enroll and submit for approval as the leading program in the field.”

“The statistically significant improvement in reported mental and physical fatigue among study participants receiving AXA1125 is a very encouraging finding for Long COVID patients, who often experience extreme and constant fatigue throughout their days,” added Betty Raman, M.D., Associate Professor of Cardiovascular Medicine at the Radcliffe Department of Medicine, University of Oxford, who led the phase 2a study.

“Given the devastating health and economic impact that Long COVID is having on millions of patients and their families, there is an urgent need for new treatments developed specifically for this population,” said Oved Amitay, Chief Executive Officer of Solve M.E., a non-profit organization that serves as a catalyst for critical research into diagnostics, treatments, and cures for myalgic encephalomyelitis/chronic fatigue syndrome (ME/CFS), Long COVID and other post-infection diseases. “We are encouraged by data from Axcella’s phase 2 study in Long COVID chronic fatigue patients and the hope that AXA1125 provides to these patients, and by the opportunity to advance the program to a pivotal clinical trial.” Amitay, who also is the co-founder of the Long COVID Alliance, a network of patient-advocates, scientists, disease experts, and drug developers focused on educating policy makers and accelerating research into post-viral illnesses, added, “I urge the US government to use all the available mechanisms, including the RECOVER study infrastructure, to advance a clinical study of Axcella’s investigational drug in the U.S. as rapidly as possible. Patients are waiting.”

Investor Conference Call Information

Axcella will host a live conference call and webcast at 8:00 a.m. ET on Tuesday, January 24, 2023. To access the live conference call, please dial 844-808-7139 (domestic) or 412-902-0127 (international) and refer to “Axcella Health.” A webcast of the call will also be available under “Events and Presentations” in the Investors section of the Axcella Health website at https://ir.axcellatx.com/. The archived webcast will be available on Axcella’s website approximately two hours after the conference call and will be available for 90 days following the call.

About Axcella Therapeutics (Nasdaq: AXLA)

Axcella is a clinical-stage biotechnology company pioneering a new approach to treat complex diseases using compositions of endogenous metabolic modulators (EMMs). The company’s product candidates are comprised of EMMs and derivatives that are engineered in distinct combinations and ratios to reset multiple biological pathways, improve cellular energetics, and restore homeostasis. Axcella’s pipeline includes lead therapeutic candidates for the treatment of Long COVID, NASH, and the reduction in risk of OHE recurrence. The company’s unique model allows for the evaluation of its EMM compositions through non-IND clinical studies or IND clinical trials. For more information, please visit www.axcellatx.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding the potential utility of AXA1125 as a treatment of Long COVID and the Company’s anticipated regulatory pathway for AXA1125 and the timing and potential success thereof. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, those related to the potential impact of COVID-19 on the company’s ability to conduct and complete its ongoing or planned clinical studies and clinical trials in a timely manner or at all due to patient or principal investigator recruitment or availability challenges, clinical trial site shutdowns or other interruptions and potential limitations on the quality, completeness and interpretability of data the company is able to collect in its clinical trials of AXA1125, other potential impacts of COVID-19 on the company’s business and financial results, including with respect to its ability to raise additional capital and operational disruptions or delays, changes in law, regulations, or interpretations and enforcement of regulatory guidance, whether data readouts support the company’s clinical trial plans and timing, clinical trial design and target indications for AXA1125, the clinical development and safety profile of AXA1125 and its therapeutic potential, whether and when, if at all, the company’s product candidates will receive approval from the FDA or other comparable regulatory authorities, potential competition from other biopharma companies in the company’s target indications, and other risks identified in the company’s SEC filings, including Axcella’s Annual Report on Form 10-K, Quarterly Report on Form 10-Q and subsequent filings with the SEC. The company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Axcella disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent the company’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. The company explicitly disclaims any obligation to update any forward-looking statements.

i Bull-Otterson L, Baca S, Saydah S, et al. Post–COVID Conditions Among Adult COVID-19 Survivors Aged 18–64 and ≥65 Years — United States, March 2020–November 2021. MMWR Morb Mortal Wkly Rep 2022;71:713–717. DOI: http://dx.doi.org/10.15585/mmwr.mm7121e1external icon
ii Bach K. New data shows long Covid is keeping as many as 4 million people out of work. Brookings Institute. August 24, 2022. https://www.brookings.edu/research/new-data-shows-long-covid-is-keeping-as-many-as-4-million-people-out-of-work/#footnote-3

ir@axcellatx.com

Source: Axcella Therapeutics

Release – Cypress Development Provides Progress Update on Feasibility Study And Lithium Extraction Facility

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CYDVF

January 23, 2023

January 23, 2023 – Vancouver, Canada – Cypress Development Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) (“Cypress” or “the Company”) is pleased to provide a progress update on its ongoing Feasibility Study being conducted on the Company’s Clayton Valley Lithium Project (“Project”) near Silver Peak, Nevada, and on its operational Lithium Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada.

Highlights

  • The Pilot Plant continues to function as designed, working to optimize the Project’s flowsheet. The Plant leaches lithium-bearing claystone material, through to the production of concentrated lithium solution using the Company’s Direct Lithium Extraction (“DLE”) process.
  • Additional piloting runs will take place at Saltworks Technologies, Inc. following the successful production of lithium carbonate (“Li2CO3”) from the Pilot Plant’s concentrated lithium solutions.
  • The Project’s Feasibility Study is on schedule and is continuing to advance toward an anticipated second quarter 2023 completion.
  • Arrangements are proceeding to initiate federal, state, and local permitting for the Project, with compilation of data and evaluation of related infrastructure, including access, water, and power supply corridors.
  • Ahead of the Feasibility Study and permitting, Cypress management is assessing personnel needs and future Project financing opportunities and structures, which may include government grants and loans.

Pilot Plant

Cypress continues to conduct testing at its Pilot Plant with the support of del Sol Refining, Inc. Since its start-up, the Pilot Plant has operated in 28 cycles of continuous 24/7 operation, with minimal down-time and maintenance matters. The test work was conducted using multiple configurations and equipment to best replicate the Project flowsheet. In the testing to date, nearly 10,000 samples of solutions, solids and precipitates have been collected and analyzed. Other data collection, including recording of flow rates and physical conditions at key sample points throughout the Pilot Plant, has been conducted, with particular attention to the DLE section of the Pilot Plant to develop the Project’s mass-balance calculations, and to finalize the flowsheet for the Feasibility Study.

Pilot Plant testing has achieved targets in most areas, including operating with 100% recycled solutions. Specific challenges were addressed with sufficient results to aid in the completion of the Feasibility Study. Further testing in 2023 is planned to confirm the overall process, continue to demonstrate the flowsheet, and produce samples of Li2CO3. Additional 1000-liter lots of concentrated lithium solution from the DLE section of the Pilot Plant will be shipped to Saltworks Technologies, Inc, in Richmond, B.C., Canada by month end.

2023 plans for the Pilot Plant include testing alternate reagents and equipment, which may include identification of potential by-products, and ways to enhance impurity removal and the DLE process area. Additional space within the Pilot Plant building has been prepared for this work.

Feasibility Study

The Feasibility Study is advancing on schedule, with completion anticipated by mid-year. On-site infrastructure designs, including, mine, processing plant, and tailings and waste storage facilities are completed. Cost estimating and market studies are underway, along with assessments for construction, component lead-time and off-site infrastructure. Completion of the Feasibility Study will then await integration of the design and cost estimates for the acid plant underway by thyssenkrupp nucera.

In addition, Cypress management is assessing personnel needs and future Project financing opportunities and structures, which may include government grants and loans.

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.

Release – Comtech to Ring the NASDAQ Stock Market Closing Bell on Jan. 23, 2023

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CMTL

MELVILLE, N.Y. – Jan. 23, 2023– Comtech (NASDAQ: CMTL) today announced that the Company will ring the NASDAQ Stock Market closing bell on Monday, Jan. 23, 2023. The Company is celebrating 35 years of being listed as a public company on the NASDAQ.

“We are thrilled to ring the NASDAQ stock market closing bell to celebrate 35 years as a public company and emphasize our continued commitment to delivering unprecedented value to our customers, shareholders, and partners around the world,” said Ken Peterman, President and Chief Executive Officer of Comtech. “Today, Comtech is relentless in our quest to solve our customers’ toughest challenges and empower people around the world through equitable access to technology.”

Comtech recently underwent a transformational change to unite the enterprise, build on its collective strengths, solidify foundations for its future, and energize transformation across the industry. Comtech’s vision of “building connections that set ideas free” is an embodiment of the dedication and commitment to excellence in the company’s innovative culture, passion for customer success, and mission to accelerate the global technology trajectories that will connect the unconnected and empower people by providing access to data and insight in new and unique ways.

A live webcast of the Closing Bell Ceremony will begin at 3:50PM ET and can be viewed here.

About Comtech

Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications 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 and performance 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20230122005023/en/

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

Media Contact
Jamie Clegg
480-532-2523
jamie.clegg@comtech.com