PHOENIX, Sept. 08, 2022 (GLOBE NEWSWIRE) — Planet MicroCap today published a new Video Interview with Dave Shworan, CEO of QuoteMedia Ltd. (OTCQB: QMCI), discussing how the company is disrupting the financial data markets and competing with established industry giants, and also offers insights into the directions the company is taking moving forward.
About QuoteMedia QuoteMedia is a leading software developer and cloud-based syndicator of financial market information and streaming financial data solutions to media, corporations, online brokerages, and financial services companies. The Company licenses interactive stock research tools such as streaming real-time quotes, market research, news, charting, option chains, filings, corporate financials, insider reports, market indices, portfolio management systems, and data feeds. QuoteMedia provides industry leading market data solutions and financial services for companies such as the Nasdaq Stock Exchange, TMX Group (TSX Stock Exchange), Canadian Securities Exchange (CSE), London Stock Exchange Group, FIS, U.S. Bank, Broadridge Financial Systems, JPMorgan Chase, CI Financial, Canaccord Genuity Corp., Hilltop Securities, HD Vest, Stockhouse, TheStreet.com, Zacks Investment Research, The Motley Fool, General Electric, Boeing, Bombardier, Telus International, Business Wire, PR Newswire, FolioFN, Regal Securities, ChoiceTrade, Cetera Financial Group, Dynamic Trend, Inc., Qtrade Financial, CNW Group, IA Private Wealth, Ally Invest, Inc., Suncor, Virtual Brokers, Leede Jones Gable, Firstrade Securities, Charles Schwab, First Financial, Cirano, Equisolve, Stock-Trak, Mergent, Cision, Day Trade Dash and others. Quotestream®, QMod™ and Quotestream Connect™ are trademarks of QuoteMedia. For more information, please visit www.quotemedia.com.
About Planet Microcap Planet MicroCap is a global multimedia and publishing financial news investor portal specifically focused on covering the MicroCap market by providing news, insights, education tools and expert commentary. We have cultivated an active and engaged community of folks that are interested in learning about and to stay ahead of the curve in the MicroCap space. Planet MicroCap is your go-to destination for unfettered access to the world of MicroCap stocks and investing.
VANCOUVER, British Columbia, Sept. 08, 2022 (GLOBE NEWSWIRE) — Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) is pleased to report positive drill results from its ongoing drill program at its Parral project in the State of Chihuahua, Mexico. The high-grade silver results show the potential for resource expansion at depth and along strike in the El Verde and Sierra Plata Deep areas along the Veta Colorada structure. Since April of this year, the Company has drilled over 5,300 meters in 23 holes, totaling 8,100 meters year to date, with the aim to define and extend mineralized zones.
Considerable exploration potential remains along the 35 square kilometre land package and exploration will be on-going, with additional testing for new discoveries with surface mapping and sampling underway. This program will aid the Company’s goal to define a mineral resource large enough to support a preliminary economic assessment.
Highlights from Recent Drill Results
199 gpt Ag, 4.68% Pb and 2.64% Zn for 428 gpt AgEq over a 3.48 m ETW , including 501 gpt Ag, 8.08% Pb and 6.50% Zn for 971 gpt AgEq over 0.27 m (VCU-78)
322 gpt Ag, 5.19% Pb and 1.62% Zn for 528 gpt AgEq over a 1.67 m ETW , including 605 gpt Ag, 14.8% Pb and 3.46% Zn for 1,150 gpt AgEq over 0.53 m (VCU-80)
664 gpt Ag, 1.88% Pb and 0.80% Zn for 747 gpt AgEq over a 5.56 m ETW , including 5,600 gpt Ag, 15.35% Pb and 1.75% Zn for 6,096 gpt AgEq over 0.22 m (VCU-90)
242 gpt Ag, 0.48% Pb and 1.66% Zn for 317 gpt AgEq over a 5.34 m ETW , including 711 gpt Ag, 0.53% Pb and 2.13% Zn for 806 gpt AgEq over 0.52 m (VCU-96)
Abbreviations include: gpt: grams per tonne; Ag: silver; Pb: lead; Zn: zinc; ETW: estimated true width; m: metre; HW: hanging wall. Silver equivalents are calculated using a silver price of $22 per troy ounce, lead price of $0.90 per pound and zinc price of $1.20 per pound.
“In the areas of the El Verde and Sierra Plata historically mined areas, we continue to verify extensions of the mineralized zones at depth and along strike,” stated Dan Dickson, Chief Executive Officer. “The focus for the rest of the year will be to test the northern part of the project with a surface drilling program on various north to south striking structures, such as the northern extension of Veta Colorada, San Alberto and the El Cabezón systems; as well as resuming drilling of the San Patricio vein.”
Latest Drill Results
The Parral drill results are summarized in the following tables:
Silver equivalents are calculated using the formula: Ag (gpt) + [Pb (%) X 2204.6 X Pb Price / Ag Price X 31.1] + [Zn (%) X 2204.6 X Zn Price / Ag Price X 31.1]
Price assumptions used are: Pb $0.90, Zn $1.20 and Ag $22.00
Minor amounts of gold and copper are present but are not considered economical
All widths are estimated true widths
No capping has been applied but high-grade intervals have been highlighted
Qualified Person and QA/QC – Dale Mah, P.Geo., Vice President Corporate Development of Endeavour Silver, is the Qualified Person who reviewed and approved the technical information contained in this news release. A quality control sampling program of reference standards, blanks and duplicates has been instituted to monitor the integrity of all assay results. All samples are split at the local field office and shipped to ALS Labs, where they are dried, crushed, split and 250 gram pulp samples are prepared for analysis. Gold is determined by fire assay with an atomic absorption finish and silver by aqua regia digestion with ICP finish, over-limits by fire assay and gravimetric finish.
About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that operates two high-grade underground silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal of becoming a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding future prospects of the Company’s mines and projects. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the ultimate impact of the COVID 19 pandemic on operations and results, changes in production and costs guidance, national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development and risks in obtaining necessary licenses and permits, and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued exploration and mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Crypto Mining can Retire Fossil Fuels for Good. Here’s How
To many, cryptocurrency may be considered the antithesis to ESG. Bitcoin, for instance, it consumes more energy per year than countries such as Finland and Belgium. However, new regulations and approaches to cryptocurrency and cryptocurrency mining could reduce carbon emissions as the industry turns to renewable energy and innovative solutions. Karen Jones, a Space Economist at The Center for Space Policy and Strategy, examines how ESG concerns from investors, the financial sector and governments are changing cryptocurrency and how, in turn, cryptocurrency could become a catalyst for renewable energy projects.
The future of blockchain is bright, but first we need to bring our expectations back to earth. To realize its full potential, the decentralized finance (DeFi) market must operate within regulatory guard rails — to protect both investors and the planet.
Cryptocurrency mining using proof of work calculations is very energy-intensive, but it isn’t the only option.
New regulations and new approaches to mining cryptocurrencies could also see reduced carbon emissions as the crypto industry turns to renewable energy and innovative solutions.
And looking long term, could space-based solar power one day fuel a space-based blockchain revolution?
Since the great cryptocurrency meltdown of May 2022, DeFi has been in the spotlight. Regulators are considering new ways to protect investors and discourage fraudulent activities after hundreds of billions of dollars in value were wiped out and entire currencies became essentially worthless, nearly overnight.
The Cost to the Planet
Now the market faces another challenge. Regulators and Environmental, Social, and Governance (ESG) motivated investors are applying pressure to reduce carbon footprints across many industries — especially the relatively new cryptocurrency market.
Even after this year’s major hit to the market, the global market capitalization for cryptocurrency is still approximately $1.04 trillion. And these companies — this technology, as it stands — is built on the mass consumption of energy.
Senior US politicians have warned that the seven largest crypto companies expect to increase their computing capacity to 2.4 gigawatts. That is a 230 percent increase from current levels, and enough energy to power 1.9 million homes. They called the miners’ energy consumption “disturbing.”
In early May this year, researchers at Columbia University estimated that global mining for Bitcoin alone, just the most popular among hundreds of cryptocurrencies, consumed more energy than the entirety of Argentina and emitted roughly 65 megatons of carbon dioxide into the atmosphere every year.
Cryptocurrency Legislation is Ramping Up
Blockchain-based currency is still in its wild west days, but policymakers are taking notice.
United States legislators have proposed a bill that aims to establish a framework for regulating cryptocurrency, including provisions directing the Federal Energy Regulatory Commission to study the energy impact of the cryptocurrency industry.
The crypto market currently involves energy-intensive mining to solve cryptographic problems, a key component of the blockchain for proof of work, the calculation computers complete to create a new Bitcoin. To reduce power needs, many blockchain applications are shifting from the energy-intensive proof of work consensus to proof of stake, which still validates entries onto the shared ledger, but emits far fewer greenhouse gas (GHG) emissions in doing so.
Despite the huge emissions caused by parts of the industry, not all crypto mining efforts have such large carbon footprints, even when they use proof of work. Mining can rely upon solar, wind, hydroelectric and geothermal renewable energy systems. To discourage carbon-intensive crypto mining operations, New York legislators have proposed a moratorium to partially limit cryptocurrency mining operations that use proof of work authentication methods to validate blockchain transactions. The moratorium would not apply to mining operations that utilize renewable energy.
The Paris Climate Agreement’s goal of Net Zero 2050 is ushering in an era of self-scrutiny, as industries examine their own industrial processes and carbon footprints. One way to do this is to evaluate the cradle to grave lifecycle assessment of a crypto transaction. Sometimes referred to as an environmental lifecycle analysis (E-LCA), this framework provides a structure for conducting an inventory and assessment of a product’s environmental footprint.
Moving towards a lifecycle assessment will also help companies produce data driven ESG statements. As ESG standards guide investors to green products and services, more industries, including crypto companies, will conduct a self-analysis of their own carbon footprints and environmental lifecycles. And good actors will be motivated to assess and broadcast their virtuous carbon-free lifecycles.
Although most environmental lifecycle-related disclosures are currently voluntary, this could change. The United States Securities and Exchange Commission (SEC) has proposed rules for registrant companies to conduct Scope 1, 2, and 3 emissions inventories. If these proposed rules become law, publicly traded cryptocurrencies would need to understand their life cycle emissions intensity, from direct operations (Scope 1), electricity purchases (Scope 2), and indirect upstream and downstream activities (Scope 3) emissions.
Crypto Mining as a Catalyst for Renewable Energy Projects
While there is always a fear that conducting an environmental assessment might reveal “inconvenient details,” it also represents a unique opportunity.
Crypto mining companies are often located near power sources to feed their power-hungry computers. As a result, crypto mining can be a catalyst or market driver for new renewable energy projects. For instance, Digital Power Optimization, in New York, now runs 400 mining computers from spare electricity produced by a hydroelectric dam in Hatfield, Wisconsin. There are many remote geographic areas where the energy demand market is not large enough to support a utility scale renewable energy site.
It is this symbiosis of crypto computer farms and remote green energy projects which offers the potential for mutual benefits — and it may not stop with rural projects.
Many cryptocurrency stakeholders and enthusiasts expect the DeFi market to expand its reach into near space, the moon and beyond — and this idea is not far from being realized. A range of distributed ledger technologies are already being considered for the space domain.
A multi-signature Bitcoin transaction has been demonstrated on the International Space Station. Other companies are moving forward with various space applications, including fundraising, smart contracts, autonomous satellite communications and blockchain applications for managing a range of satellite assets in a decentralized and accountable way.
Perhaps one day in the future an orbiting space-based solar power plant could generate several gigawatts of clean energy and power a range of blockchain applications in space.
Opportunities for consensus-based protocols across the space value chain Image: The Center for Space Policy and Strategy
Several countries, including China, India and the UK are seriously considering space based solar power. As the world seeks decentralized, accountable and carbon free technical solutions, it is this type of cooperative partnership between clean energy providers and blockchain applications that can answer the call.
About the Author:
Karen L. Jones is a Space Economist at The Center for Space Policy and Strategy.
This article first appeared on the World Economic Forum website in August 2022.
Fed Chairman Powell Shows His Steady Hand and Firm Conviction at Monetary Conference
In what is his last scheduled public appearance before the post-FOMC statement expected on Sept. 21, Fed Chairman Powell did not say anything that would change expectations of another 75bp Fed Funds rate hike. He instead emphasized the Fed’s commitment to reduce inflation and believes it can be done and at the same time avoid “very high social costs.”
“It is very much our view, and my view, that we need to act now forthrightly, strongly, as we have been doing, and we need to keep at it until the job is done,” Powell said Thursday (Sept. 8) at the 40th annual Monetary Conference held virtually by the Cato Institute.
The discussion was held after it was known that the Eurozone Central Bank had just raised rates by 75bp. Powell’s talk and the interest rate hike overseas didn’t upset U.S. markets as U.S. Jobless claims had been reported earlier and showed a very strong labor market which helped demonstrate that the Fed’s actions to return inflation to a more acceptable level are not severely hurting business.
The Federal Reserve Chairman continued to reiterate what he has been saying, that the U.S. central bank is focused on bringing down high inflation to prevent it from becoming entrenched as it did in the 1970s. The core theme, most recently heard at the Jackson Hole Economic Symposium, is that he is resolved to return inflation to the Fed’s 2% target.
Mr. Powell said it is critical to prevent households and businesses from ongoing expectations that inflation will rise. He said this is a key lesson taken from the persistent inflation of the 1970s. “The public had really come to think of higher inflation as the norm and to expect it to continue, and that’s what made it so hard to get inflation down in that case,” Powell said. The takeaway for policymakers, he added, is that “the longer inflation remains well above target, the greater the risk the public does begin to see higher inflation as the norm, and that has the capacity to really raise the costs of getting inflation down.”
Speaking the day before at the Economic Outlook and Monetary Policy at The Clearing House and Bank Policy Institute Annual Conference, Fed Vice Chairwoman Lael Brainard, didn’t express a preference on the size of the next increase but underscored the need for rates to rise and stay at levels that would slow economic activity. “We are in this for as long as it takes to get inflation down,” she said.
Fed officials have raised rates this year at the most rapid pace since the early 1980s. The federal funds rate, the percentage banks charge each other for overnight borrowing, rose from near zero in March to a range between 2.25% and 2.5% in July, which is where it sits today.
Take Away
The Fed’s two mandates are to keep inflation at bay and to make sure there are adequate jobs in the U.S. The lessons of the past indicate that expectations of inflation are inflationary themselves. The Fed Chairman and Fed Vice Chairwoman would undermine their goals if they did not talk tough on inflation. With the economy not having sunk into a deep recession, and joblessness at acceptable levels, their actions are likely to match their tough talk.
The stock market typically behaves well when confident that the Fed is fighting inflation and has a steady grasp of what too far is. Overly tight money would dampen business growth.
The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 103 facilities totaling approximately 83,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Redemption of 5.125% 2023 Notes. The GEO Group has delivered a notice of redemption for all of the remaining $125.7 million in outstanding aggregate principal amount of its 5.125% Senior Notes due April 1, 2023. The redemption will occur on October 6, 2022 with the price equal to $1,000 per $1,000 original principal amount plus accrued interest. The Company should save roughly $6 million of annual interest expense.
Reduction in pre-2026 Debt. The redemption of the 2023 Notes reduces outstanding debt due prior to 2026 to approximately $170 million. With a goal of reducing net recourse debt by $200-$250 million annually, the Company should easily handle the $170 million of debt due prior to 2026.
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.
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.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Patrick McCann, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Updates Q3 guidance. Management lowered Q3 revenue guidance from a range of 6% to 8% growth to a range of flat to a positive 2%. The company indicated that the lower revenue outlook was due to a shift in revenue related to the Dinesh D’Souza book slipping into Q4 and softer expectations in its SalemNow segment.
SalemNow likely disappointing. We believe that the softer revenue expectations in SalemNow is likely related to a poor performance for Uncle Tom II. We like the company’s expansion into content, which can be very lucrative, but the success of the content is hard to predict.
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.
Gregory Aurand, Senior Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
What’s in a name? The rebranding identifies the Company’s CHITOSAN based regenerative medicine technology while expanding the scope of the technology beyone orthopedics. While the near term pipeline is focused on the repair of orthopedic soft tissue (rotator cuff and meniscus) as initial markets with great need, the Company’s proprietary platform has much broader potential regenerative applications, including in cardiovascular, dermatology, wound healing, oncology and neurology.
Tickers will change. The corporate rebranding was approved at the last Annual General and Special Meeting of Shareholders held July 21, 2022, following the passing of a special resolution authorizing a name change. Effective on or around September 12th, shares will begin trading on the CSE as CHGX. Subject to change, it is expected that the OTCQB ticker will also be updated to CHGX.
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.
Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
First Nations agreement. Defense Metals entered into a Mineral Exploration Agreement with the McLeod Lake Indian Band that addresses the interests of both parties with respect to mineral exploration activities at the company’s Wicheeda Rare Earth Element project. The agreement provides a framework for communication and cooperation going forward which we think promotes cooperative collaboration and further de-risks the project.
Fostering a collaborative and mutually beneficial relationship. In addition to providing the McLeod Lake Indian Band with input into how exploration activities proceed, the agreement provides economic opportunities for the First Nations community and establishes a path for potential future commercial involvement.
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.
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations. As of September 16, 2017, the company operated a network of 91 company-and licensee-owned stores. It also provides shipping, delivery, and warehousing services to customers in the furniture industry. In addition, the company owns and leases retail store properties. It also distributes its products through other multi-line furniture stores, Bassett galleries or design centers, specialty stores, and mass merchants. Bassett Furniture Industries was founded in 1902 and is based in Bassett, Virginia.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Purchase of Noa Home. Basset purchased Noa Home, Inc., a a mid-priced e-commerce furniture retailer headquartered in Montreal, Canada. We believe the purchase provides multiple benefits to Bassett, including a greater online presence, including for Bassett products, as well as allowing the Company to attract more digitally native consumers.
Transaction Details. The purchase price included cash payments of CAD$2.0 million paid to the co-founders of Noa and approximately CAD$5.7 million for the repayment of existing debt. The Noa co-founders also will have the opportunity to receive additional annual cash payments of CAD$1.33 million per year for the following three fiscal years based on established increases in net revenues and achieving certain internal EBITDA goals.
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.
Noble Capital Markets, a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed small/microcap companies through investment banking, wealth management, trading & execution, and equity research activities (and the provider of equity research on Channelchek), is pleased to announce the return of in-person meetings with executives from companies listed on Channelchek. Qualified Investors, at all levels, as well as registered representatives, are welcome to attend these breakfasts and lunches at no cost, and with no obligation to invest. LIMITED SEATING AVAILABILITY.
To request attendance, click the registration link(s) below. A Noble representative will contact you to request qualification information, and to provide you full location and attendance details (based upon availability). NOTE: All attendees must be preregistered and qualified; no admittance of unregistered guests at the door. Limited opportunity to attend future meetings for no-shows. For general MEET the MANAGEMENT inquiries, please contact Dustin Cronk, Head of Institutional Relationships at Noble Capital Markets at dcronk@noblecapitalmarkets.com
Publication of this Scientific Paper on the Safety of Oxidized Beta Carotene is a milestone on the path to broader regulatory clearance to market and sell OxC-beta™ Products in the U.S. and supports wide-spread adoption of the technology around the world
Ottawa, ON /Business Wire/ September 7, 2022 /– Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, is pleased to announce that its scientific paper entitled “Safety and uptake of fully Oxidized Beta Carotene” (the active ingredient in the company’s OxC-beta™ product line) has been published in the Journal of Food and Chemical Toxicology. A link to the article is provided below.
“With any innovative product, adoption and uptake require a robust understanding of the benefits and safety of that product and necessitate significant scrutiny. Avivagen has been working tirelessly to showcase the multiple, compelling use cases of OxC-beta and concurrent proven safety. This new peer reviewed publication, one of now ten such publications on OxC-beta, represents the cumulative work on the attractive safety profile of our product. This pioneering work by Dr. Graham Burton, co-founder of Avivagen, and his team lays important groundwork to seek further regulatory approvals for OxC-beta in the U.S. and around the world, for multiple use cases and with strong, proven scientific underpinnings expected by our end market customers.”, said Kym Anthony, Avivagen CEO. “We look forward to sharing these results with existing and new customers and providing this to regulatory bodies around the world as we look to further expand our access to large markets.”
About OxC-beta™ Technology β-carotene has been primarily recognized for the health benefits it provides when it is transformed into vitamin A by biochemical reaction with oxygen in the body. Avivagen discovered that spontaneous oxidation of β-carotene produces a mixture of oxidation compounds other than vitamin A that also provide important health benefits. The mixture of β-carotene oxidation compounds, OxC-beta, a product developed by Avivagen, contains neither β-carotene or vitamin A, indicating its health benefits stem uniquely from the oxidation compounds themselves. Incorporation of OxC-beta into products for livestock, companion animal and humans show a range of practical benefits. A peer reviewed paper just published in the prestigious Food and Chemical Toxicology journal (https://doi.org/10.1016/j.fct.2022.113387) has reported that OxC-beta has a very high margin of safety and the discovery that the natural counterpart of OxC-beta is present at significant levels in mouse tissues and blood. A standard toxicology study conducted in rats established a No Observed Adverse Effect Level that is several thousand-fold higher than the level of supplementation with OxC-beta used in livestock, companion animals and humans. These findings are highly significant in establishing the safety of OxC-beta with respect to regulatory approvals of the product in various major jurisdictions.
About Avivagen Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance. It is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.
About OxC-beta™ Livestock Avivagen’s OxC-beta™ technology is derived from Avivagen discoveries about β-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Mexico, Taiwan, New Zealand, Thailand, Brazil, Australia, Vietnam and Malaysia.
Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta™ Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.
Forward Looking Statements This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements involve risks and uncertainties associated with the business of Avivagen Inc. and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “aim”, “anticipate”, “appear”, “believe”, “consider”, “could”, “estimate”, “expect”, “if”, “intend”, “goal”, “hope”, “likely”, “may”, “plan”, “possibly”, “potentially”, “pursue”, “seem”, “should”, “whether”, “will”, “would” and similar expressions.
Statements set out in this news release relating to the potential positive impacts expected to arise from the publication of the above referenced article, the possibility for further regulatory approvals and expanded use cases for Avivagen’s products, the future growth and prospects for Avivagen and the possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds as growth promoters are forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. For instance, Avivagen’s products may not gain market acceptance or regulatory approval in new jurisdictions or for new applications and may not be widely accepted as a replacement for antibiotics as growth promoters in livestock feeds due to many factors, many of which are outside of Avivagen’s control. Readers are referred to the risk factors associated with the business of Avivagen set out in Avivagen’s most recent management’s discussion and analysis of financial condition available at www.SEDAR.com. Except as required by law, Avivagen assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
Neither 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 release.
For more information: Avivagen Inc. Drew Basek Director of Investor Relations 100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6 Phone: 416-540-0733 E-mail: d.basek@avivagen.com
IRVING, Texas–(BUSINESS WIRE)– Salem Media Group, Inc. (NASDAQ: SALM) today announced revisions to its third quarter 2022 revenue. Taking into account the postponement of the forthcoming book, 2000 Mules by Dinesh D’Souza, until the fourth quarter, lower than expected revenue on SalemNOW and the impact on advertising revenue due to the weakening economic environment, the company now expects third quarter 2022 total revenue to be between flat and an increase of 2% over third quarter 2021 total revenue of $66.0 million.
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.
Why So Much Money from Overseas is Flowing to Soft U.S. Markets
In 2016, Mohamed El-Erian, chief economic advisor at Allianz, and President of Queens’ College, Cambridge published a book called The Only Game in Town. It was written during a period approximately halfway between the last big stock market sell-off and the 2022 bear market. In it he suggests the only reason investment dollars from overseas are flocking to U.S. markets is because we are “the cleanest dirty shirt.” In other words, the U.S. economy and financial system may not be great, but it is far more appealing than the alternatives.
Labor Day 2022 is now behind us, the S&P 500 is down 16% YTD, the economy receded during the first half of the year and its growth is probably still stunted. The U.S. Treasury index indicates that bonds are down 11% YTD, so why are international money flows moving to U.S. markets? Do investors from overseas think this is a buying opportunity, are we the “cleanest dirty shirt,” or is there something else?
There are probably a number of correct answers, which, when taken together, provides the reason. Investors need to be aware of the dynamics as flows into and out of the U.S. impact all of the country’s markets, including real estate and currency.
“The U.S. looks the least challenged in a very challenging world,” Christopher Smart, chief global strategist at Barings and head of the Barings Investment Institute told the Wall Street Journal. “Everybody is slowing down, but the U.S., because of the continuing strength of the jobs market, still seems to be slowing more slowly,” he added.
And the data shows just how much money is reaching our markets. Assets have been withdrawn from international stock funds for 20 consecutive weeks, according to Refinitiv Lipper data. Money flows have been in to U.S. equity-focused stock and mutual funds for four of the past six weeks.
The U.S., relative to large economies outside of the states is better; employment is strong, there are expectations that a long protracted recession isn’t likely, and consumer spending hasn’t faded, while price increases (inflation) have been tapered.
Recent performance of U.S. markets has been impressive. Since the low point of the year (June 14), the small-cap Russell 2000 index is up 7.2%, the S&P 500 is up 6.5% and even U.S. Treasuries are positive despite the Fed’s stated intention of higher rates.
The S&P 500 has outpaced major stock indexes in Europe and Asia since hitting its low for the year in mid-June, meanwhile the pan-continental Stoxx Europe 600 has added only 2.9%, Japan’s Nikkei 225 has advanced 4.5%. Germany’s DAX and the Shanghai Composite have slid 1.3% over the same period.
And there is one other self-fulfilling incentive for U.S. dollar-denominated assets; the dollar has surged to a 20-year high relative to a standard basket of global currencies. To date it is 25.2% stronger than the yen, it increased 12.2% higher versus the euro, and gained 15% above the British pound. Even with the U.S. major indices down, investor conversion back to non-U.S. native currency is a big win compared to what they would have lost. And for U.S. investors that were in international markets, they are better off having repatriated their dollars, even if they are down on the year.
The longer the dollar’s strength continues, the more the strength will feed on itself.
What investors should pay particular attention to now is anything that may trigger a turnaround, and money going back into international markets. This does not seem imminent, but it helps to know what is making “other shirts dirtier.”
Among Europe’s challenges are war-related supply shortages which have led to skyrocketing gas and electricity prices. Recently added to the list, Russia’s Gazprom PJSC said Friday (Sept. 2), that it would suspend the Nord Stream natural-gas pipeline to Germany. Winter is coming and the continent is on the path to a worsening energy problem, one that would add to upward inflation pressures for them.
China the world’s second-largest economy, has been severely weakened by the impact of its response to Covid-19. Other factors weighing on its economy are a real-estate downturn, heightened regulation of technology companies, and unusually bad weather. Weakness in China creates problems for economies around the globe since much of the world’s commodities and manufacturing come from the country.
A turnaround in these factors, such as a friendly resolution to the war, increased productivity from China, or lower inflation across Europe and the tide may turn causing more investment to gravitate away from the U.S., creating less demand for assets here. To date, there is no sign that any of these possibilities are imminent, and the longer the U.S. is the only game in town, the more money will be kept in U.S. dollar assets and the more upward pressure there will be on these assets.
