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Release – CoreCivic Reports First Quarter 2023 Financial Results

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Research News and Market Data on CXW

May 3, 2023

Updates 2023 Full Year Guidance

BRENTWOOD, Tenn., May 03, 2023 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the first quarter of 2023.

Damon T. Hininger, CoreCivic’s President and Chief Executive Officer, said, “We are pleased to report first quarter results that were in line with our expectations, while we continue to operate through a challenging labor market and execute on our long-term capital allocation strategy. During the first quarter, we generated $73.7 million of EBITDA that, along with existing liquidity, enabled us to repay in full the $153.8 million outstanding balance of our 4.625% Senior Notes that were scheduled to mature on May 1, 2023. We also continued to execute on our share repurchase program during the quarter by repurchasing 2.5 million shares, representing an additional 2% of our outstanding shares, at a total cost of $24.9 million.

Hininger continued, “We’re also proud to have recently released our fifth Environmental, Social and Governance (ESG) Report. The ESG report details the ways we delivered reentry and vocational programming designed to prepare those in our care for long-lasting success upon reentry to their communities during 2022, a mission that our organization has been carrying out for more than 40 years. I hope you have an opportunity to review our latest ESG report to learn more about CoreCivic and the important services we provide. We are proud of our history and our accomplishments that truly help individuals in our care change their lives for the better primarily through the strength and volume of our evidence-based programs.”

Financial Highlights – First Quarter 2023

  • Total revenue of $458.0 million
    • CoreCivic Safety revenue of $417.7 million
    • CoreCivic Community revenue of $26.4 million
    • CoreCivic Properties revenue of $13.8 million
  • Net Income of $12.4 million
  • Diluted earnings per share of $0.11
  • Adjusted Diluted EPS of $0.13
  • Normalized Funds From Operations per diluted share of $0.34
  • EBITDA of $73.7 million

First Quarter 2023 Financial Results Compared With First Quarter 2022

Net income in the first quarter of 2023 totaled $12.4 million, or $0.11 per diluted share, compared with net income in the first quarter of 2022 of $19.0 million, or $0.16 per diluted share. Adjusted for special items, adjusted net income in the first quarter of 2023 was $14.7 million, or $0.13 per diluted share (Adjusted Diluted EPS), compared with adjusted net income in the first quarter of 2022 of $17.4 million, or $0.14 per diluted share. Special items for each period are presented in detail in the calculation of Adjusted Diluted EPS in the Supplemental Financial Information following the financial statements presented herein.  

The $0.01 per share decline in Adjusted Diluted EPS occurred despite transitioning to the previously announced contract with the state of Arizona at our 3,060-bed La Palma Correctional Center in Arizona, the expiration of our contract with the Federal Bureau of Prisons (BOP) at the McRae Correctional Facility on November 30, 2022, and ongoing labor market pressures, including above average wage inflation. We substantially completed the transition of inmate populations at the La Palma facility by the end of 2022, but we continued to incur elevated operating expenses during the first quarter of 2023 due to ongoing efforts to attract and retain local staff at the facility. Despite the expiration of the contract with the BOP at the McRae facility, a facility we sold to the state of Georgia in 2022, our renewal rate on owned and controlled facilities remains high at 94% over the previous five years. We believe our renewal rate on existing contracts remains high due to a variety of reasons including the aged and constrained supply of available beds within the U.S. correctional system, our ownership of the majority of the beds we operate, the value our government partners place in the wide range of recidivism-reducing programs we offer to those in our care, and the cost effectiveness of the services we provide.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was $73.7 million in the first quarter of 2023, compared with $83.0 million in the first quarter of 2022. Adjusted EBITDA was $73.7 million in the first quarter of 2023, compared with $80.8 million in the first quarter of 2022. Adjusted EBITDA of $80.8 million in the prior year quarter excludes a net gain on sale of real estate assets. Adjusted EBITDA decreased from the prior year quarter primarily due to the previously mentioned transition of offender populations at our La Palma Correctional Center, which resulted in a reduction in EBITDA of $7.4 million, and the expiration of our BOP contract at the McRae Correctional Facility in November 2022, which resulted in a reduction in EBITDA of $2.3 million from the first quarter of 2022 to the first quarter of 2023.   Due to an improving labor market, we achieved higher staffing levels in the first quarter of 2023 than in the prior year quarter; however, we incurred higher wage rates than in the prior year quarter in order to attract and retain facility staff in the challenging labor market. We also incurred higher travel expenses in order to augment staffing levels at multiple facilities. We believe these investments in staffing are positioning us to manage the increased number of residents we anticipate at our facilities once the remaining occupancy restrictions attributable to COVID-19 are removed, most notably Title 42, a policy that denies entry at the United States border to asylum-seekers and anyone crossing the border without proper documentation or authority in an effort to contain the spread of COVID-19.   Title 42 is currently scheduled to end in May 2023. Despite the difficult labor market, we have been able to reduce certain labor-related expenses, such as registry nursing and temporary incentives, which moderated during the first quarter of 2023 compared with the first quarter of 2022.

Funds From Operations (FFO) was $36.6 million, or $0.32 per diluted share, in the first quarter of 2023, compared to $41.5 million, or $0.34 per diluted share, in the first quarter of 2022. Normalized FFO, which excludes special items, was $38.9 million, or $0.34 per diluted share, in the first quarter of 2023, compared with $41.5 million, or $0.34 per diluted share, in the first quarter of 2022.   Normalized FFO was impacted by the same factors that affected Adjusted EBITDA.

Adjusted Net Income, EBITDA, Adjusted EBITDA, FFO, and Normalized FFO, and, where appropriate, their corresponding per share amounts, are measures calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles (GAAP). Please refer to the Supplemental Financial Information and the note following the financial statements herein for further discussion and reconciliations of these measures to net income, the most directly comparable GAAP measure.

Asset Dispositions and Assets Held for Sale

During the third quarter of 2022, we began marketing for sale our Roth Hall Residential Reentry Center and the Walker Hall Residential Reentry Center, both of which are located in Philadelphia, Pennsylvania and reported in our CoreCivic Properties segment. The properties were classified as held for sale as of March 31, 2023 and December 31, 2022. A purchase and sale agreement for these two Philadelphia properties was executed in March 2023 and the properties were sold on May 2, 2023, generating net sales proceeds of $5.8 million, which approximated the carrying value of the properties.   We are also marketing for sale a residential reentry center in Denver, Colorado with a carrying value of $1.2 million and reported in our CoreCivic Community segment, which was also classified as held for sale as of March 31, 2023.

Share Repurchases

On May 12, 2022, our Board of Directors approved a share repurchase program authorizing the Company to repurchase up to $150.0 million of our common stock. On August 2, 2022, our Board of Directors authorized an increase in our share repurchase program of up to an additional $75.0 million in shares of our common stock, or a total of up to $225.0 million. During the first quarter of 2023, we repurchased 2.5 million shares of our common stock at an aggregate purchase price of $24.9 million, excluding fees, commissions and other costs related to the repurchases. Since the share repurchase program was authorized, through March 31, 2023, we have repurchased a total of 9.1 million shares at an aggregate price of $99.4 million under this share repurchase program.

As of March 31, 2023, we had $125.6 million remaining under the share repurchase program authorized by the Board of Directors. Additional repurchases of common stock will be made in accordance with applicable securities laws and may be made at management’s discretion within parameters set by the Board of Directors from time to time in the open market, through privately negotiated transactions, or otherwise. The share repurchase program has no time limit and does not obligate us to purchase any particular amount of our common stock. The authorization for the share repurchase program may be terminated, suspended, increased or decreased by our Board of Directors in its discretion at any time.

Debt Repayments

On December 22, 2022, we delivered an irrevocable notice to the trustee of the holders of the 4.625% Senior Notes that we elected to redeem in full the 4.625% Senior Notes that remained outstanding on February 1, 2023. The 4.625% Senior Notes were redeemed on February 1, 2023 at a redemption price equal to 100% of the principal amount of the outstanding 4.625% Senior Notes, which amounted to $153.8 million, plus accrued and unpaid interest to, but not including, the redemption date. We used a combination of cash on hand and available capacity under our Revolving Credit Facility to fund the redemption. During the first quarter of 2023, we reduced our total debt balance by $146.2 million, or by $48.2 million net of the change in cash. Following the redemption of the 4.625% Senior Notes, we have no debt maturities until 2026.

2023 Financial Guidance

Based on current business conditions, we are providing the following update to our financial guidance for the full year 2023:

 Guidance
Full Year 2023		Prior Guidance
Full Year 2023
Net income$51.2 million to $63.2 million$58.0 million to $75.0 million
Adjusted net income$53.5 million to $65.5 million$58.0 million to $75.0 million
Diluted EPS$0.44 to $0.55$0.50 to $0.65
Adjusted Diluted EPS$0.46 to $0.57$0.50 to $0.65
FFO per diluted share$1.29 to $1.40$1.35 to $1.50
Normalized FFO per diluted share$1.31 to $1.42$1.35 to $1.50
EBITDA$291.3 million to $301.3 million$298.5 million to $313.5 million
Adjusted EBITDA$293.6 million to $303.6 million$298.5 million to $313.5 million
 

Financial guidance has been updated to reflect a favorable $0.01 per share variance to our internal forecast for the first quarter of 2023, offset by $0.04 per share to reflect the non-renewal of our lease with the state of Oklahoma at our North Fork Correctional Facility expiring June 30, 2023, which we previously disclosed on April 24, 2023. In addition, we continue to negotiate in good faith with the state of Oklahoma for the renewal of our contract to manage our Davis Correctional Facility, which also expires June 30, 2023, and operated at a loss during 2022 and the first quarter of 2023. However, we have not yet been able to reach acceptable terms. Our updated guidance was further reduced by $0.03 per share to reflect the potential transition of inmate populations out of the Davis Correctional Facility during the second quarter of 2023 and idle operations during the second half of the year, which we did not contemplate in our previous forecast. If we are able to reach acceptable terms on a new agreement, the $0.03 per share reduction will be avoided, as we would exceed our forecast by approximately $0.02 per share during the second quarter by avoiding the transition, and we would further exceed our guidance during the second half of 2023, the magnitude of which would depend on the terms of a new agreement.

During 2023, we expect to invest $64.0 million to $67.0 million in capital expenditures, consisting of $36.0 million to $37.0 million in maintenance capital expenditures on real estate assets, $25.0 million to $26.0 million for maintenance capital expenditures on other assets and information technology, and $3.0 million to $4.0 million for other capital investments. These capital expenditure amounts are unchanged from our previous guidance.  

Supplemental Financial Information and Investor Presentations

We have made available on our website supplemental financial information and other data for the first quarter of 2023. Interested parties may access this information through our website at http://ir.corecivic.com/ under “Financial Information” of the Investors section. We do not undertake any obligation and disclaim any duties to update any of the information disclosed in this report.  

Management may meet with investors from time to time during the second quarter of 2023. Written materials used in the investor presentations will also be available on our website beginning on or about May 19, 2023. Interested parties may access this information through our website at http://ir.corecivic.com/ under “Events & Presentations” of the Investors section.

Conference Call, Webcast and Replay Information

We will host a webcast conference call at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, May 4, 2023, which will be accessible through the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page.

To participate via telephone and join the call live, please register in advance here https://register.vevent.com/register/BI6394fffe952b47d497a2735e53d08f32. 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.

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 one of the largest prison operators 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.

Forward-Looking Statements

This press release contains statements as to our beliefs and expectations of the outcome of future events that are “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include, but are not limited to, the risks and uncertainties associated with: (i) changes in government policy, legislation and regulations that affect utilization of the private sector for corrections, detention, and residential reentry services, in general, or our business, in particular, including, but not limited to, the continued utilization of our correctional and detention facilities by the federal government, including as a consequence of the United States Department of Justice, or DOJ, not renewing contracts as a result of President Biden’s Executive Order on Reforming Our Incarceration System to Eliminate the Use of Privately Operated Criminal Detention Facilities, or the Private Prison EO, impacting utilization primarily by the BOP and the United States Marshals Service, and the impact of any changes to immigration reform and sentencing laws (we do not, under longstanding policy, lobby for or against policies or legislation that would determine the basis for, or duration of, an individual’s incarceration or detention); (ii) our ability to obtain and maintain correctional, detention, and residential reentry facility management contracts because of reasons including, but not limited to, sufficient governmental appropriations, contract compliance, negative publicity and effects of inmate disturbances; (iii) changes in the privatization of the corrections and detention industry, the acceptance of our services, the timing of the opening of new facilities and the commencement of new management contracts (including the extent and pace at which new contracts are utilized), as well as our ability to utilize available beds; (iv) general economic and market conditions, including, but not limited to, the impact governmental budgets can have on our contract renewals and renegotiations, per diem rates, and occupancy; (v) fluctuations in our operating results because of, among other things, changes in occupancy levels; competition; contract renegotiations or terminations; inflation and other increases in costs of operations, including a continuing rise in labor costs; fluctuations in interest rates and risks of operations; (vi) the duration of the federal government’s denial of entry at the United States southern border to asylum-seekers and anyone crossing the southern border without proper documentation or authority in an effort to contain the spread of COVID-19, a policy known as Title 42 (Title 42 is expected to end May 11, 2023, when President Biden has decided to lift the public health emergency for COVID-19, although its termination may be subject to ongoing litigation, the outcome of which is unclear. Most recently, on December 27, 2022, the Supreme Court granted a stay on the cessation of Title 42, while it considers an appeal by a group of states to continue the expulsions.); (vii) our ability to successfully identify and consummate future development and acquisition opportunities and realize projected returns resulting therefrom; (viii) our ability to have met and maintained qualification for taxation as a real estate investment trust, or REIT, for the years we elected REIT status; and (ix) the availability of debt and equity financing on terms that are favorable to us, or at all. Other factors that could cause operating and financial results to differ are described in the filings we make from time to time with the Securities and Exchange Commission.

We take no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.

NOTE TO SUPPLEMENTAL FINANCIAL INFORMATION

Adjusted Net Income, EBITDA, Adjusted EBITDA, FFO, and Normalized FFO, and, where appropriate, their corresponding per share metrics are non-GAAP financial measures. The Company believes that these measures are important operating measures that supplement discussion and analysis of the Company’s results of operations and are used to review and assess operating performance of the Company and its properties and their management teams. The Company believes that it is useful to provide investors, lenders and security analysts disclosures of its results of operations on the same basis that is used by management.  

FFO, in particular, is a widely accepted non-GAAP supplemental measure of performance of real estate companies, grounded in the standards for FFO established by the National Association of Real Estate Investment Trusts (NAREIT). NAREIT defines FFO as net income computed in accordance with GAAP, excluding gains (or losses) from sales of property and extraordinary items, plus depreciation and amortization of real estate and impairment of depreciable real estate and after adjustments for unconsolidated partnerships and joint ventures calculated to reflect funds from operations on the same basis. As a company with extensive real estate holdings, we believe FFO and FFO per share are important supplemental measures of our operating performance and believe they are frequently used by securities analysts, investors and other interested parties in the evaluation of REITs and other real estate operating companies, many of which present FFO and FFO per share when reporting results. EBITDA, Adjusted EBITDA, and FFO are useful as supplemental measures of performance of the Company’s properties because such measures do not take into account depreciation and amortization, or with respect to EBITDA, the impact of the Company’s tax provision and financing strategies. Because the historical cost accounting convention used for real estate assets requires depreciation (except on land), this accounting presentation assumes that the value of real estate assets diminishes at a level rate over time.   Because of the unique structure, design and use of the Company’s properties, management believes that assessing performance of the Company’s properties without the impact of depreciation or amortization is useful. The Company may make adjustments to FFO from time to time for certain other income and expenses that it considers non-recurring, infrequent or unusual, even though such items may require cash settlement, because such items do not reflect a necessary or ordinary component of the ongoing operations of the Company.   Normalized FFO excludes the effects of such items. The Company calculates Adjusted Net Income by adding to GAAP Net Income expenses associated with the Company’s debt repayments and refinancing transactions, and certain impairments and other charges that the Company believes are unusual or non-recurring to provide an alternative measure of comparing operating performance for the periods presented.

Other companies may calculate Adjusted Net Income, EBITDA, Adjusted EBITDA, FFO, and Normalized FFO differently than the Company does, or adjust for other items, and therefore comparability may be limited. Adjusted Net Income, EBITDA, Adjusted EBITDA, FFO, and Normalized FFO and, where appropriate, their corresponding per share measures are not measures of performance under GAAP, and should not be considered as an alternative to cash flows from operating activities, a measure of liquidity or an alternative to net income as indicators of the Company’s operating performance or any other measure of performance derived in accordance with GAAP.   This data should be read in conjunction with the Company’s consolidated financial statements and related notes included in its filings with the Securities and Exchange Commission.

Contact:Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
 Financial Media: David Gutierrez, Dresner Corporate Services – (312) 780-7204  

Release – Schwazze Announces First Quarter Earnings Call

Posted on by [email protected]

Research News and Market Data on SHWZ

May 3, 2023

OTCQX: SHWZ
NEO: SHWZ

DENVER, May 3, 2023 /CNW/ – Medicine Man Technologies operating as Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) (“Schwazze” or the “Company”), will hold a first quarter earnings webcast on May 10, 2023, at 5:00 pm ET.

Investors and stakeholders may participate in the conference call by dialing 416-764-8650 or by dialing North American toll free 1-888-664-6383 or listen to the webcast from the Company’s website at https://ir.schwazze.com The webcast will be available on the Company’s website and on replay until May 17, 2023, and may be accessed by dialing 416-764-8677 or North American toll free 1-888-390-0541 / 613777 #.

Following their prepared remarks, Management will answer investor questions. Investors may submit questions in advance or during the conference call itself through the weblink: https://app.webinar.net/8JdExl9XLGb This weblink has been posted to the Company’s website and will be archived on the website. All Company SEC filings can also be accessed on the Company website at https://ir.schwazze.com/sec-filings

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,”, “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 and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/schwazze-announces-first-quarter-earnings-call-301814233.html

SOURCE Medicine Man Technologies, Inc.

Release – Comstock Announces First Quarter 2023 Results

Posted on by [email protected]

Research News and Market Data on LODE

VIRGINIA CITY, NEVADA, MAY 3, 2023 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”), an innovator of technologies that enable systemic decarbonization, today announced its recent Q1 2023 operational highlights.

“Over the past three months, we monetized non-strategic assets and positioned ourselves to meet or exceed our $30 million target this year. We have also advanced our fuels, metals, and mining lines of business, and GenMat, our strategic investee, announced a customer demonstration of their physics-based general artificial intelligence capabilities. We are excited that all of this drives our commercializations,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer.

Selected Strategic Highlights from the First Quarter 2023

Comstock Fuels

“Our fuels team is unblocking the most meaningful bottleneck in renewable fuel production with proven breakthrough lignocellulosic fuel technology and patented woody-biomass-based feedstock processing solutions,” stated David Winsness, President of Comstock Fuels. “Our team recently demonstrated commercial readiness with unprecedented yields approaching 100 gallons of fuel per dry ton of feedstock on a gasoline gallon equivalent basis.”

  • Advanced our grant award from the U.S. Department of Energy of Comstock’s $2,000,000 grant application to build a pre-pilot scale system to demonstrate one of Comstock’s unique new pathways to produce renewable diesel, sustainable aviation fuel, gasoline, and marine fuel from forestry residues and other forms of lignocellulosic biomass at dramatically improved yield, efficiency, and cost in comparison to known methods.
  • Presented at the 2023 Advanced Bioeconomy Leadership Conference, where David Winsness, president of our fuels business, received a leadership award for his bioeconomy contributions and was named to The 2023 Bioeconomy 500.
  • Advanced our current process such that we can now turn one tonne of woody biomass into more than 45 GGE (gasoline gallon equivalent), of cellulose derived fuels and more than 50 GGE of Bioleum™ derived fuels.

“We are focused on commercialization. Execution of one or more license agreements with operationally experienced, technologically sophisticated, and well capitalized customers is a top 2023 objective, with each license potentially creating more than 20 years of recurring royalty revenue with material upfront engineering fees,” stated De Gasperis.

Comstock Metals

“The world is focused on electrification to reduce reliance on fossil fuels and carbon emissions,” said Dr. Fortunato Villamagna, President of Comstock Metals. “Voluminous amounts of photovoltaic materials are already being removed from large solar fields, effectively creating an immediate and rapidly growing market over the next five years. We are now engaged in sourcing photovoltaics waste materials for processing and foresee a rapid path forward to achieving positive cash flow in 2024, all while creating the foundation for recycling lithium-ion batteries, fuel cells and the broader population of electrification products.”

  • Appointed Dr. Fortunato Villamagna as the President of Comstock Metals Corporation, the entity that owns LINICO Corporation, the Company’s lithium-ion battery metals recycling business.
  • Presented on the topic of manufacturing in the electrification supply chain at the inaugural Nevada Clean Energy & Transportation Conference hosted by Nevada Battery Coalition.
  • Advanced the strategic sale of its facility at 2500 Peru Drive, McCarran, Nevada, for a gross price of $27.6 million.
  • Commenced pre-permitting activities of the Company’s proprietary processing and recycling system in Nevada.

“Securing revenue generating supply commitments in our expanded metals recycling business is a key objective for 2023,” added Mr. De Gasperis. “Sourcing photovoltaics now presents us with a better, safer, and faster cash flowing plan.”

Comstock Mining

“With gold well over $2,000, we are keen to expand the value of our precious metal resources by combining our expansive mineral data repository with GenMat’s advanced hyperspectral orbital imaging and generative artificial intelligence solutions to enable faster and larger mineral discovery, for a fraction of the cost of conventional exploration,” continued Mr. De Gasperis.

  • Presented Comstock’s and GenMat’s capabilities at both the Vancouver Resource Investment Conference,  the world’s largest resource investment conference dedicated to resource exploration and development and the Prospectors and Developers Association Conference in Toronto, Canada, one of the world largest mining conferences.
  • Advanced preparations for the 200-acre site for battery storage in Mound House, Nevada.

GenMat is accelerating the commercialization of disruptive AI generated materials with the help of quantum-probabilistic software solutions that integrate proprietary hyperspectral technology solutions that (a) increase certainty in mineral discovery targets, (b) reduce costs of traditional drill programs, with ground penetrating scans and analytics, and (c) increase discernment for categorizing mineral resources and plans on launching a hyperspectral imager into orbit for mineral imaging later this year.

Artificial Intelligence

 “Our goal is to build and commercialize artificial general intelligence for physics with powerful, science-based capabilities when compared to other known large language and other conventional AI models,” stated Deep Prasad, GenMat’s Chief Executive Officer. “Our AGI will enable the sensing, simulation, and engineering of matter at speeds previously unimaginable.”

  • Developed and launched a new, generative AI for physics to simulate critical properties of known materials during calibration testing late last year. Remarkably, GenMat also used its AI to simulate new material characteristics.
  • GenMat’s physics-based generative AI models can be deployed today, for commercial use on GenMat’s existing high-performance computing platform, well before quantum computers become mainstream.
  • In 2023, GenMat will, among other things, elevate new material simulation to commercial readiness by synthesizing and directly testing new AI simulated materials in high value applications with early adopting customers.

Corporate and Selected Financial Results

“We are leveraging our entire platform, including fuels, metals, generative AI and mining, to break new ground and generate significant revenue growth, starting in 2023,” said De Gasperis. “Our businesses operate as one system, with each business having fully dedicated leaders, teams, and plans for 2023 revenue growth. We believe the value creation and impact on our stakeholders from all of our business will be enormous. Our recent and planned asset sales are now funding this growth.”

  • For the three months ended March 31, 2023, net loss was $5,681,742 or $(0.06) per share, as compared to a net loss of $6,547,023 or $(0.09) per share for the three months ended March 31, 2022.
  • Total assets were $104,991,305 as of March 31, 2023 compared to total assets of $100,053,759 as of December 31, 2022.
  • Debt was $7,073,939 on March 31, 2023 compared to debt at December 31, 2022 of $7,917,333.
  • Cash and cash equivalents were $8,105,256 and $2,521,772 on March 31, 2023 and December 31, 2022, respectively.
  • Outstanding common shares were 103,035,152 at March 31, 2023, and 102,707,603 at May 3, 2023.

Upcoming Events

Comstock is hosting its 2023 Annual Virtual Shareholder Meeting online via webcast Thursday, May 25, 2023 at 9:00 AM, Pacific Time. Shareholders of record on March 31, 2023, will be able to vote and submit questions online during the meeting. Even if you plan to attend the Comstock Inc. 2023 Virtual Shareholder Meeting online; however, we encourage you to vote your shares by proxy as soon as practical at www.ProxyVote.com

If you would like to attend the Annual Virtual Shareholder Meeting online, you must use your 16-digit control number from your proxy card that was mailed to you. Please log in 15 minutes prior to the start of the meeting at: www.virtualshareholdermeeting.com/LODE2023.

The Company is also planning much broader activities during its Virtual Investor Day online June 28, 2023. More details for this event will be made available soon on the Company’s website Investors page.

Conference Call Details

Comstock will host a conference call today, Wednesday, May 3, 2023, at 4:15 p.m. ET to report its First Quarter 2023 results and business update. We invite all investors and other interested parties to register for the webinar at the link below.

Date: Wednesday, May 3, 2023
Time: 4:15 pm ET
Register: Webinar Registration

HAVE QUESTIONS? There will be an allotted time following the live presentation for a Q&A session. Unaddressed questions will be reviewed by management and responded to accordingly. You may submit your question(s) beforehand in the registration form (linked above) or by email at: [email protected].

About Comstock

Comstock Inc. (NYSE: LODE) commercializes technologies that enable systemic decarbonization by efficiently converting under-utilized natural resources into renewable energy products, and by leveraging physics based artificial intelligence = for more efficient and effective mineral and materials discovery.

To learn more, please visit www.comstock.inc.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and  earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

Contact Information:

Investor Relations
RB Milestone Group
Tel (203) 487-2759
[email protected]

Media
Zach Spencer
Comstock Inc.
Tel (775) 847-7532
[email protected]

Source: Comstock Inc.

Release – Largo Announces the Appointment of Andrea Weinberg to its Board of Directors

Posted on by [email protected]

Research News and Market Data on LGO

TORONTO–(BUSINESS WIRE)– Largo Inc. (“Largo” or the “Company”) (TSX: LGO) (NASDAQ: LGO) announces today that Andrea Weinberg has been appointed as an independent director to the Company’s Board of Directors (“Board”).

Largo Announces the Appointment of Andrea Weinberg to its Board of Directors (Photo: Business Wire)

J. Alberto Arias, Chairman of Largo’s Board of Directors commented: “Andrea’s extensive knowledge of the metals sector, global financial markets, and specifically Brazil, her native country where she resides, makes her an excellent addition to our Board of Directors. With Andrea, the Board has gained an invaluable member who will assist the Company in enhancing value for Largo shareholders.” He continued: “In addition, Andrea most recently served on the board of Largo Physical Vanadium Corp. (“LPV”) during its founding, providing her with a thorough understanding of both the vanadium market fundamentals and the innovative business model we developed between Largo, Largo Clean Energy and LPV. It is our view that LPV has the potential to substantially improve the competitiveness of the vanadium flow battery industry in the future and the prospects of vanadium demand in general.”

Andrea Weinberg commented: “As the vanadium industry enters an exciting new phase of growth, largely driven by the world’s decarbonization needs and clean energy transition, it is my pleasure to join Largo’s Board of Directors and work closely with the management team and other Board members to execute on the Company’s two-pillar business strategy. Largo has developed a compelling business proposition to help advance a low-carbon future and I am excited to be a part of it going forward.”

Ms. Weinberg is a Director of Cosan, a Brazilian holding company of logistics, gas, fuels, lubricants and mining assets in Brazil. She has over 25 years of experience in the financial markets working at companies such as BTG Pactual, BlackRock for Latin American and Global Emerging Market funds, AllianceBernstein and Dynamo Administradora de Recursos covering commodities (metals & mining, pulp and paper and oil), amongst other things. Before joining the buyside industry, Ms. Weinberg worked as a sell side analyst at Merrill Lynch (2004-2007) and Goldman Sachs (1998-2004) covering the Metals & Mining sector. Ms. Weinberg holds a Bachelor of Science in Chemical Engineering from Universidade Federal do Rio de Janeiro and a Master’s Degree in Financial Engineering & Operations Research from Columbia University.

About Largo

Largo has a long and successful history as one of the world’s preferred vanadium companies through the supply of its VPURETM and VPURE+TM products, which are sourced from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine in Brazil. Aiming to enhance value creation at Largo, the Company is in the process of implementing an ilmenite concentration plant using feedstock sourced from its existing operations in addition to advancing its U.S.-based clean energy division with its VCHARGE vanadium batteries. Largo’s VCHARGE vanadium batteries contain a variety of innovations, enabling an efficient, safe and ESG-aligned long duration solution that is fully recyclable at the end of its 25+ year lifespan. Producing some of the world’s highest quality vanadium, Largo’s strategic business plan is based on two pillars: 1.) leading vanadium supplier with an outlined growth plan and 2.) U.S.-based energy storage business support a low carbon future.

Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol “LGO”. For more information on the Company, please visit www.largoinc.com.

Investor Relations
Alex Guthrie
Senior Manager, External Relations
+1.416.861.9778
[email protected]

Source: Largo Inc.

Release – FAT Brands Announces Ken Kuick and Rob Rosen as Co-CEOs

Posted on by [email protected]

Research News and Market Data on FAT

MAY 01, 2023

Senior FAT Brands Executives A ppointed to Lead Global Restaurant Franchising Company

LOS ANGELES, May 01, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. announces Ken Kuick and Rob Rosen as Co-CEOs, effective May 5, 2023. As previously announced, Andy Wiederhorn will step down as CEO and continue in his role as Chairman of the Board, where he will focus on the strategic direction of the company, the allocation of capital, and ensuring the management team executes the Company’s business plan while maintaining quality restaurant operations.

Joining FAT Brands in 2021, Mr. Kuick, Chief Financial Officer, and Mr. Rosen, Executive Vice President of Capital Markets, have both played an integral role in the growth of the Company with a focus on strategic growth initiatives, including acquisitions and driving company profitability. Mr. Kuick and Mr. Rosen will also continue in their respective roles as Chief Financial Officer and Executive Vice President of Capital Markets while assuming the Co-CEO role. Together, they will focus on driving forward the Company’s overarching goals of increasing organic growth through new store openings, growing the utilization of its manufacturing facility, and bolstering the success of high-growth brands, including Twin Peaks.

Mr. Kuick’s past roles include Chief Financial Officer, Noodles & Company, Chief Accounting Officer, VICI Properties, and Chief Accounting Officer, Caesars Entertainment Operating Company, a subsidiary of Caesars Entertainment. Mr. Rosen is a Wall Street veteran with over 30 years of experience in structured finance, banking, lending, and portfolio management. Mr. Rosen has held positions at Fleet Bank, Kidder Peabody, and Bank of Tokyo, and has 20 years of experience with Black Diamond Capital Management in a variety of management, board-level, and advisory capacities.

“Over the last few years, Ken and Rob have played a tremendous role in the unprecedented growth of FAT Brands,” said Andy Wiederhorn, CEO of FAT Brands. “Their financial acumen and track record for hitting key company benchmarks make them well-positioned to take on the CEO role together. I look forward to continuing to work with Ken and Rob in the Chairman of the Board position to aid in the continued success of FAT Brands.”

“Andy is a great leader and I’m extremely humbled to take on this new responsibility and drive forward the key goals of the company,” said Ken Kuick, Chief Financial Officer of FAT Brands. “We are fortunate to have such a talented team at FAT Brands and I see great opportunity ahead in building upon our positioning as one of the largest restaurant companies in the U.S.”

“I’m honored to take on the Co-CEO position of a company that continues to surpass growth expectations,” said Rob Rosen, Executive Vice President of Capital Markets at FAT Brands. “In the near term, Ken and I will look to build on the strong foundation FAT Brands has already laid, which includes our robust growth pipeline, exciting innovations, and a commitment to our franchisees and customers.”

For more information on FAT Brands, visit www.fatbrands.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.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect expectations of FAT Brands Inc. (“we”, “our” or the “Company”) concerning future events and are subject to significant business, economic and competitive risks, uncertainties and contingencies, including but not limited to uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic. These factors are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

MEDIA CONTACT:
Erin Mandzik, FAT Brands
[email protected]
860-212-6509

Release – Salem Media Group Announces the Appointment of Carolyn Cassidy as General Manager of Salem Surround in Tampa

Posted on by [email protected]

Research News and Market Data on SALM

 Download as PDFMay 01, 2023 6:00am EDT

IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) announced today the appointment of Carolyn Cassidy as General Manager of its five-station radio group and of Salem Surround in Tampa and Sarasota, Florida.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230428005490/en/

Carolyn Cassidy (Photo: Business Wire)

Cassidy is currently the General Manager of Salem’s Columbus, OH operation, she will retain those responsibilities in addition to her new role as GM in Tampa/Sarasota. In her extensive broadcasting background, Cassidy has served in sales leadership and General Management roles in Colorado Springs, Denver, Cape Cod, Vermont and Ohio. Carolyn has been an active member of the board of the Ohio Association of Broadcasters and has been twice recognized by Radio Ink magazine as a General Manager of the Year.

Salem Media Group Regional Vice President Val Carolin commented, “As we worked to fill the big shoes that Barb Yoder has worn so effectively these past 12 years as General Manager, we were thrilled to learn that Carolyn had a strong desire to return to her Florida roots and serve the communities in her home state. Carolyn has proven herself to be a tireless leader with a deep commitment to service. She’s a hard and smart worker who gets involved and gets things done. I’m confident that the dedication and the skills she possesses will prove to be a great fit for our strong Tampa/Sarasota operation.”

Cassidy commented, “I’m honored to be leading our talented Tampa/Sarasota team. The vision that Dave Santrella and Allen Power have laid out for the growth of our Company is clear and is one that we are striving to achieve here in Tampa Bay and beyond. We look forward to the future and to building upon the success that Barb Yoder and her great team have created. This is a customer focused operation that strives to deliver strong results for our partners by activating effective, individualized digital and broadcast solutions. I started my radio career in the sunshine state, so it is wonderful to be home!”

ABOUT SALEM MEDIA GROUP:

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20230428005490/en/

Company Contact:
Evan D. Masyr
Executive Vice President and Chief Financial Officer
(805) 384-4512
[email protected]

Source: Salem Media Group, Inc.

Released May 1, 2023

Release – Lashawnda Goffin of Colossus SSP to Receive AdExchanger and AdMonsters’ 2023 Top Women in Media & Ad Tech Catalyst Award

Posted on by [email protected]

Research News and Market Data on DRCT

April 28, 2023 9:00am EDT

Goffin Recognized for Driving Company & Team Growth at Colossus SSP, a Direct Digital Holdings Company

HOUSTON, April 28, 2023 /PRNewswire/ — Direct Digital Holdings, Inc. (Nasdaq: DRCT) (“Direct Digital Holdings” or the “Company”), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC (“Colossus SSP”), Huddled Masses LLC (“Huddled Masses”) and Orange142, LLC (“Orange142”), today announced that Lashawnda Goffin, Chief Executive Officer of Colossus SSP, has been selected to win the 2023 Catalyst Award, a special accolade that is part of the AdExchanger and AdMonsters’ 2023 Top Women in Media & Ad Tech program. The award is given to a woman industry leader who has driven a tremendous amount of growth for the business and team over the past year.

“Since Lashawnda began her leadership role with Direct Digital Holdings’ supply-side platform, Colossus SSP, she has been a major force in its rapid growth. Year-over-year revenues between 2021 and 2022 more than tripled – an impressive achievement,” said Mark D. Walker, CEO and Co-Founder of Direct Digital Holdings. “She is deserving of this award for her work at Colossus SSP, as well as for advancing diversity and progress within our industry.”

“Throughout my time at Direct Digital Holdings, I’ve encouraged my team at Colossus SSP to adopt innovative ways to grow our business, while working towards building a more inclusive marketplace by empowering niche and multicultural publishers,” said Goffin. “I am very honored to receive this award and will accept it as recognition of the exceptional business results my entire team continues to achieve.”

Currently, Colossus SSP represents 26,000 media properties – offering inventory from both multicultural/diverse and general market publishers. The company has 163,000 advertisers accessing its platform monthly, generating over 130 billion impressions per month across display, CTV, in-app and other media.

Lashawnda Goffin will receive the 2023 Catalyst Award on Monday, June 5  at the AdExchanger and AdMonsters’ Top Women in Media & Ad Tech Awards Gala, which will be held at the Metropolitan Pavilion in New York City.

About Direct Digital Holdings
Direct Digital Holdings (Nasdaq: DRCT), owner of operating companies Colossus SSP, Huddled Masses and Orange 142, brings state-of-the-art sell- and buy-side advertising platforms together under one umbrella company. Direct Digital Holdings’ sell-side platform, Colossus SSP, offers advertisers of all sizes extensive reach within general market and multicultural media properties. The company’s subsidiaries Huddled Masses and Orange142 deliver significant ROI for middle market advertisers by providing data-optimized programmatic solutions at scale for businesses in sectors that range from energy to healthcare to travel to financial services. Direct Digital Holdings’ sell- and buy-side solutions manage approximately 90,000 clients monthly, generating over 100 billion impressions per month across display, CTV, in-app, and other media channels. Direct Digital Holdings is the ninth Black-owned company to go public in the U.S and was named a top minority-owned business by The Houston Business Journal.

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and which are subject to certain risks, trends and uncertainties.

As used below, “we,” “us,” and “our” refer to Direct Digital Holdings. We use words such as “could,” “would,” “may,” “might,” “will,” “expect,” “likely,” “believe,” “continue,” “anticipate,” “estimate,” “intend,” “plan,” “project” and other similar expressions to identify forward-looking statements, but not all forward-looking statements include these words. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements.

All of our forward-looking statements involve estimates and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Our forward-looking statements are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. Although we believe that these forward-looking statements are based on reasonable assumptions, many factors could affect our actual operating and financial performance and cause our performance to differ materially from the performance expressed in or implied by the forward-looking statements, including, but not limited to: our dependence on the overall demand for advertising, which could be influenced by economic downturns; any slow-down or unanticipated development in the market for programmatic advertising campaigns; the effects of health epidemics, such as the ongoing global COVID-19 pandemic; operational and performance issues with our platform, whether real or perceived, including a failure to respond to technological changes or to upgrade our technology systems; any significant inadvertent disclosure or breach of confidential and/or personal information we hold, or of the security of our or our customers’, suppliers’ or other partners’ computer systems; any unavailability or non-performance of the non-proprietary technology, software, products and services that we use; unfavorable publicity and negative public perception about our industry, particularly concerns regarding data privacy and security relating to our industry’s technology and practices, and any perceived failure to comply with laws and industry self-regulation; restrictions on the use of third-party “cookies,” mobile device IDs or other tracking technologies, which could diminish our platform’s effectiveness; any inability to compete in our intensely competitive market; any significant fluctuations caused by our high customer concentration; any violation of legal and regulatory requirements or any misconduct by our employees, subcontractors, agents or business partners; any strain on our resources, diversion of our management’s attention or impact on our ability to attract and retain qualified board members as a result of being a public company; our dependence, as a holding company, of receiving distributions from Direct Digital Holdings, LLC to pay our taxes, expenses and dividends; and other factors and assumptions discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” and other sections of our filings with the SEC that we make from time to time. Should one or more of these risks or uncertainties materialize or should any of these assumptions prove to be incorrect, our actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and except as required by law, we undertake no obligation to update any forward-looking statement contained in this release to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lashawnda-goffin-of-colossus-ssp-to-receive-adexchanger-and-admonsters-2023-top-women-in-media–ad-tech-catalyst-award-301810229.html

SOURCE Direct Digital Holdings

Released April 28, 2023

Release – ACCO Brands Corporation Declares Quarterly Dividend

Posted on by [email protected]

Research News and Market Data on ACCO

04/28/2023

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today announced that its board of directors has declared a quarterly cash dividend of $0.075 per share. The dividend will be paid on June 9, 2023, to stockholders of record as of the close of business on May 19, 2023.

“This is the Company’s 22nd quarterly cash dividend since it began paying dividends in 2018. The Company’s dividend has become an important part of our capital allocation strategy and we remain committed to supporting our quarterly dividend with our robust free cash flow. At the current stock price, on an annualized basis, our shareholders are receiving an almost 7% yield on their investment,” said Boris Elisman, Chairman and Chief Executive Officer of ACCO Brands.

About ACCO Brands Corporation

ACCO Brands, the Home of Great Brands Built by Great People, designs, manufactures and markets consumer and end-user products that help people work, learn, play and thrive. Our widely recognized brands include AT-A-GLANCE®, Five Star®, Kensington®, Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More information about ACCO Brands Corporation (NYSE: ACCO) can be found at www.accobrands.com.

Chris McGinnis
Investor Relations
(847) 796-4320

Julie McEwan
Media Relations
(937) 495-5717

Source: ACCO Brands Corporation

Release – Ocugen To Host Conference Call On Friday, May 5 At 8:30 A.M. ET To Discuss Business Updates And First Quarter 2023 Financial Results

Posted on by [email protected]

Research News and Market Data on OCGN

April 28, 2023

MALVERN, Pa., April 28, 2023 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, and vaccines, today announced that it will host a conference call and live webcast to discuss the Company’s first quarter 2023 financial results and provide a business update at 8:30 a.m. ET on Friday, May 5, 2023.

Ocugen will issue a pre-market earnings announcement on the same day. Attendees are invited to participate on the call using the following details:

Dial-in Numbers: (800) 715-9871 for U.S. callers and (646) 307-1963 for international callers
Conference ID: 4613996
Webcast: Available on the events section of the Ocugen investor site

A replay of the call and archived webcast will be available for approximately 45 days following the event on the Ocugen investor site.

About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologics, 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
[email protected] 

Release – Largo to Release First Quarter 2023 Financial Results on May 10, 2023

Posted on by [email protected]

Research News and Market Data on LGO

April 28, 2023 07:00 AM Eastern Daylight Time

TORONTO–(BUSINESS WIRE)–Largo Inc. (“Largo” or the “Company”) (TSX: LGO) (NASDAQ: LGO) will release its first quarter 2023 financial results on Wednesday, May 10, 2023 after the close of market trading. Additionally, the Company will host a webcast and conference call to discuss its first quarter 2023 results and updates on Thursday, May 11 at 1:00 p.m. ET.

To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/40oF5sO to receive an instant automated call back.

You can also dial direct to be entered to the call by an Operator via dial-in details below.

Conference Call Details
Date:Thursday, May 11, 2023
Time:1:00 p.m. ET
Dial-in Number:Local: +1 (416) 764-8650
North American Toll Free: +1 (888) 664-6383
Conference ID:09350530
Webcast Registration Link:https://app.webinar.net/NxAb5Ek3Yjp
RapidConnect Linkhttps://emportal.ink/40oF5sO
Replay Number:Local / International: + 1 (416) 764-8677
North American Toll Free: +1 (888) 390-0541
Replay Passcode: 350530#
Website:To view press releases or any additional financial information, please visit the Investor Resources section of the Company’s website at: www.largoinc.com/English/investor-resources

About Largo

Largo has a long and successful history as one of the world’s preferred vanadium companies through the supply of its VPURETM and VPURE+TM products, which are sourced from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine in Brazil. Aiming to enhance value creation at Largo, the Company is in the process of implementing an ilmenite concentration plant using feedstock sourced from its existing operations in addition to advancing its U.S.-based clean energy division with its VCHARGE vanadium batteries. Largo’s VCHARGE vanadium batteries contain a variety of innovations, enabling an efficient, safe and ESG-aligned long duration solution that is fully recyclable at the end of its 25+ year lifespan. Producing some of the world’s highest quality vanadium, Largo’s strategic business plan is based on two pillars: 1.) leading vanadium supplier with an outlined growth plan and 2.) U.S.-based energy storage business support a low carbon future.

Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol “LGO”. For more information on the Company, please visit www.largoinc.com.

Contacts

Investor Relations
Alex Guthrie
Senior Manager, External Relations
+1.416.861.9778
[email protected]

Release – Alliance Resource Partners, L.P. Declares Quarterly Distribution of $0.70 Per Unit

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Company Release – 4/28/2023 7:00 AM ET

TULSA, Okla.–(BUSINESS WIRE)– Alliance Resource Partners, L.P. (NASDAQ: ARLP) today announced that the Board of Directors of ARLP’s general partner approved a cash distribution to its unitholders for the quarter ended March 31, 2023 (the “2023 Quarter”).

ARLP unitholders will receive a cash distribution for the 2023 Quarter of $0.70 per unit (an annualized rate of $2.80 per unit), payable on May 15, 2023 to all unitholders of record as of the close of trading on May 8, 2023. The announced distribution represents a 100% increase over the cash distribution of $0.35 per unit for the quarter ended March 31, 2022 and is consistent with the cash distribution of $0.70 per unit for the quarter ended December 31, 2022.

As previously announced, ARLP will report financial results for the 2023 Quarter before the market opens on Tuesday, May 2, 2023 and Alliance management will discuss these results during a conference call beginning at 11:00 a.m. Eastern that same day.

To participate in the conference call, dial (877) 407-0784 and request to be connected to the Alliance Resource Partners, L.P. earnings conference call. International callers should dial (201) 689-8560 and request to be connected to the same call. Investors may also listen to the call via the “investor relations” section of ARLP’s website at www.arlp.com.

An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial U.S. Toll Free (844) 512-2921; International Toll (412) 317-6671 and request to be connected to replay using access code 13737890.

Concurrent with this announcement we are providing qualified notice to brokers and nominees that hold ARLP units on behalf of non-U.S. investors under Treasury Regulation Section 1.1446-4(b) and (d) and Treasury Regulation Section 1.1446(f)-4(c)(2)(iii). Brokers and nominees should treat one hundred percent (100%) of ARLP’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. In addition, brokers and nominees should treat one hundred percent (100%) of the distribution as being in excess of cumulative net income for purposes of determining the amount to withhold. Accordingly, ARLP’s distributions to non-U.S. investors are subject to federal income tax withholding at a rate equal to the highest applicable effective tax rate plus ten percent (10%). Nominees, and not ARLP, are treated as the withholding agents responsible for withholding on the distributions received by them on behalf of non-U.S. investors.

About Alliance Resource Partners, L.P.

ARLP is a diversified energy company that is currently the largest coal producer in the eastern United States, supplying reliable, affordable energy domestically and internationally to major utilities, metallurgical and industrial users. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is evolving and positioning itself as a reliable energy partner for the future by pursuing opportunities that support the advancement of energy and related infrastructure.

News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via e-mail at [email protected].

Investor Relations Contact
Cary P. Marshall
Senior Vice President and Chief Financial Officer
918-295-7673
[email protected]

Source: Alliance Resource Partners, L.P.

Release – Entravision Schedules First Quarter 2023 Earnings Release and Conference Call

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04/27/2023

SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision (NYSE: EVC), a leading global advertising solutions, media and technology company, announced that it will release its first quarter 2023 financial results after market close on Thursday, May 4, 2023. The Company will host a conference call that day at 5:00 p.m. Eastern Time to discuss the first quarter 2023 results.

To access the conference call, please dial (844) 836-8739 (U.S.) or (412) 317-5440 (International) ten minutes prior to the start time. The call will also be available via live webcast on the investor relations portion of the Company’s website located at www.entravision.com.

If you cannot listen to the conference call at its scheduled time, there will be a replay available through Thursday, May 18, 2023 which can be accessed by dialing (844) 512-2921 (U.S.) or (412) 317-6671 (International) and entering the passcode 10176751. The webcast will also be archived on the Company’s website.

About Entravision

Entravision is a global advertising solutions, media and technology company. Over the past three decades, we have strategically evolved into a digital powerhouse, expertly connecting brands to consumers in the U.S., Latin America, Europe, Asia and Africa. Our digital segment, the company’s largest by revenue, offers a full suite of end-to-end advertising services in 40 countries. We have commercial partnerships with Meta, Twitter, TikTok, and Spotify, and marketers can use our Smadex and other platforms to deliver targeted advertising to audiences around the globe. In the U.S., we maintain a diversified portfolio of television and radio stations that target Hispanic audiences and complement our global digital services. Entravision remains the largest affiliate group of the Univision and UniMás television networks. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about our offerings at entravision.com or connect with us on LinkedIn and Facebook.

Christopher T. Young
Interim Chief Executive Officer
Entravision
310-447-3870

Kimberly Esterkin
Addo Investor Relations
310-829-5400
[email protected]

Source: Entravision

Release – Johnny Rockets Lands in United Arab Emirates with Abu Dhabi Opening

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APRIL 27, 2023

All-American Chain’s Famous Burgers and Shakes Now Available in United Arab Emirates’ Capital City

LOS ANGELES, April 27, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. announces the opening of Johnny Rockets in the United Arab Emirates. Situated in the country’s bustling capital city, Abu Dhabi, the new restaurant marks the first brick-and-mortar opening for franchise partner, Kitopi, who has a master franchise agreement with the global restaurant franchising company to open 136 brick-and-mortar locations in addition to 70 ghost kitchens throughout the Middle East.

To date, FAT Brands’ concepts Fatburger, Johnny Rockets, Elevation Burger and Buffalo’s Express have opened in 15 of Kitopi’s existing ghost kitchens in the region. In the coming weeks, the franchise partner will also be opening another brick-and-mortar Johnny Rockets location in Dubai.

“Since announcing our partnership with Kitopi in 2021, we have been impressed with their ability to successfully open and operate our brands,” said Jake Berchtold, COO of FAT Brands’ Fast Casual Division. “Now, as they begin to open brick-and-mortar locations, we are thrilled to continue this growth journey with them. The Middle East is ripe with expansion opportunities, and we look forward to bringing burgers, shakes, fries, and fun to Abu Dhabi with Johnny Rockets.”

The first Johnny Rockets restaurant opened June 6, 1986, on the iconic Melrose Avenue in Los Angeles. Since that time, the chain’s timeless all-American brand has connected with customers across the U.S. and in 25 other countries around the globe. Guests visiting the all-new location can enjoy a classic Johnny Rockets’ meal, a juicy, cooked-to-order burger paired with crispy fries and a decadent, hand-spun shake.

The Abu Dhabi Johnny Rockets is located at 108 Al Murihiban Street, Khalifa City, Abu Dhabi, UAE and is open Monday through Friday, 11 a.m. to 11 p.m., and Saturday and Sunday, 11 a.m. to 12 a.m.

For more information or to find a Johnny Rockets near you, please visit www.johnnyrockets.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 Johnny Rockets
Founded in 1986 on Melrose Avenue in Los Angeles, Johnny Rockets is an iconic, world-renowned, hamburger restaurant franchise that offers high-quality, innovative menu items including Certified Angus Beef® cooked-to-order hamburgers, veggie burgers, chicken sandwiches, crispy fries, and rich, delicious hand-spun shakes and malts. With over 325 locations in over 25 countries around the globe, this dynamic, lifestyle, the brand offers friendly service in an upbeat atmosphere of relaxed, casual fun. For more information, visit www.johnnyrockets.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings. Forward-looking statements reflect expectations of FAT Brands Inc. (“we”, “our” or the “Company”) concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies, including but not limited to uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic. These factors are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release. 

MEDIA CONTACT:
Erin Mandzik, FAT Brands
[email protected]
860-212-6509