Eagle Bulk Shipping Inc. (“Eagle”) is a US-based drybulk owner-operator focused on the Supramax/Ultramax mid-size asset class, which ranges from 50,000 and 65,000 deadweight tons in size; these vessels are equipped with onboard cranes allowing for the self-loading and unloading of cargoes, a feature which distinguishes them from the larger classes of drybulk vessels and provides for greatly enhanced flexibility and versatility- both with respect to cargo diversity and port accessibility. The Company transports a broad range of major and minor bulk cargoes around the world, including coal, grain, ore, pet coke, cement, and fertilizer. Eagle operates out of three offices, Stamford (headquarters), Singapore, and Hamburg, and performs all aspects of vessel management in-house including: commercial, operational, technical, and strategic.
Michael Heim, Senior Vice President, Equity Research Analyst, Energy & Transportation, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Eagle will get a 13% premium. Eagle shareholders will receive 2.6211 shares of Star Bulk for each share owned worth $52.29 per share based on Star Bulks Monday night close of $19.95. The implied price represents a 13% premium based on Monday night’s close and a 17% premium based on Friday’s close. The combined company will retain the Star Bulk name. Star Bulk management will take over most management positions including Chairman and CEO with certain Eagle management joining the team. The transaction is expected to close in the first half of 2024.
The combined company will be a leading dry bulk shipper. The combined market capitalization of $2.1 billion and fleet of 169 ships makes it one of the largest in the world. The fleet includes both small and large ships with 97% equipped with scrubbers and an average age of 11 years. The company is a low-cost operator, a position that should improve with an estimated $50 million in cost savings. Combined net debt of $1.4 billion represents a reasonable 37% of capitalization.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This 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.
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.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , 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.
NobleCon19. FAT Brands Chairman Andy Wiederhorn presented at NobleCon19. Highlights included a review of organic growth, the potential monetization of Twin Peaks, and the manufacturing facility. A rebroadcast is available at https://www.channelchek.com/videos/fat-brands-noblecon19-replay.
Organic Growth. With 96 restaurants opened through the end of 3Q, FAT Brands remains on track to open between 130-150 new locations in 2023. The organic pipeline exceeds some 1,100 locations, with 145 already lined up for opening in 2024. Organic growth alone could generate an additional $50 million of annual adjusted EBITDA by 2025.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , 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.
New Agreement. MustGrow announced yesterday that the Company signed a collaboration agreement with Bayer AG covering soil applications of MustGrow’s mustard-based biocontrol technologies in Europe, Middle East, and Africa, excluding home and garden, turf, and ornamental applications. Bayer also has been granted a right-of-first-negotiation for a license to use MustGrow’s technologies for use in bananas in particular applications.
Details on the Agreement. Under the terms, MustGrow will be receiving an initial upfront payment as well as additional payments linked to the achievement of certain business milestones. Once the commencement of commercial sales has begun, MustGrow also will be entitled to fees from royalties and manufacturing sales. Bayer will be responsible for regulatory and market development work to commercialize MustGrow’s mustard-based biocontrol technologies.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Bayer’s commercial license covers soil applications of MustGrow’s mustard-based biocontrol technologies in Europe, Middle East and Africa.
MustGrow to receive upfront license fees and milestone payments, royalties, and manufacturing sales linked to development and commercial achievements.
SASKATOON, Canada, December 11, 2023 – MustGrow Biologics Corp. (TSXV:MGRO) (OTC:MGROF) (FRA:0C0) (“MustGrow”) is pleased to announce the signing of a collaboration agreement (the “Agreement”) with Bayer AG (BAYN) (“Bayer”) covering soil applications of MustGrow’s mustard-based biocontrol technologies in Europe, Middle East and Africa, excluding home and garden, turf and ornamental applications.
Under the terms of the Agreement, MustGrow will receive an initial upfront payment as well as additional payments linked to the achievement of certain business milestones. Upon the commencement of commercial sales, MustGrow will also be entitled to fees from royalties and manufacturing sales. Additionally, Bayer will be responsible for regulatory and market development work (the “Development Work“) in the respective field of use necessary to commercialize MustGrow’s mustard-based biocontrol technologies, including the development of the formulated product, conducting relevant regulatory data studies for regulatory submissions, filing regulatory submissions, registration with relevant regulatory authorities, and support, marketing, and commercial sales activities. MustGrow anticipates that the value of the upfront, milestone payments and Development Work could approximate USD $35 to $40 million over the next several years (not including additional fees from royalties and manufacturing sales).
“Biologicals are part of an exciting frontier that offers new solutions for the challenges that growers face across the world,” said Benoit Hartmann, Head of Biologics for Bayer. “We’re committed to working with leading innovators like MustGrow to accelerate the development of innovative biological solutions that provide safe, sustainable options for farmers and are looking forward to continuing our work together.”
Pursuant to the Agreement, Bayer has also been granted a right-of-first-negotiation for a license to use MustGrow’s mustard-based biocontrol technologies for use in bananas in particular applications, excluding postharvest applications. MustGrow expects to continue collaborating with Bayer to consider other potential applications of MustGrow’s mustard-based biocontrol technologies, including potentially testing in regions not currently covered by the Agreement.
Sustainable innovations and green technologies are necessary to ensure agricultural production continues to address food safety and security as well as soil health. MustGrow’s rapidly developing technologies are focused on sustainable, safe, and effective, organic plant-based crop protection technologies that harness the mustard seed’s natural defense mechanism to treat diseases, pests and weeds. MustGrow’s technology has shown consistent efficacy in multiple global regions, in multiple crops, in multiple applications, over multiple years. The Agreement between Bayer and MustGrow demonstrates the importance of innovation in sustainable technologies in agricultural regions around the world.
“MustGrow is thrilled to commercialize our technologies with Bayer in three important food producing regions. Through Bayer’s research, development and commercial teams we have seen a rapid advancement in our product and market knowledge in the last two years,” remarked Corey Giasson, CEO of MustGrow. “Working with the leader in global crop science and sustainable agriculture is a tremendous opportunity for our organization to see our mustard plant-based technologies commercialized globally.”
About MustGrow
MustGrow is an agriculture biotech company developing organic biocontrol and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. MustGrow and its leading global partners — Bayer, Janssen PMP (pharmaceutical division of Johnson & Johnson), Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions for applications in biocontrol to potentially replace harmful synthetic chemicals in preplant soil treatment and weed control, to postharvest disease control and food preservation. Bayer has an commercial agreement to develop and commercialize MustGrow’s biocontrol soil applications in Europe, Africa, and the Middle East. Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its first registered and OMRI Listed® product, TerraSanteTM, in key U.S. states. Over 150 independent tests have been completed, validating MustGrow’s safe and effective approach to crop and food protection and yield enhancements. Pending regulatory approval, MustGrow’s patented liquid technologies could be applied through injection, standard drip or spray equipment, improving functionality and performance features. MustGrow has approximately 50.1 million basic common shares issued and outstanding and 55.0 million shares fully diluted. For further details, please visit www.mustgrow.ca.
Contact Information
Corey Giasson Director & CEO Phone: +1-306-668-2652 info@mustgrow.ca
MustGrow Forward-Looking Statements
Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: MustGrow receiving upfront license fees and milestone payments, royalties, and manufacturing sales linked to development and commercial achievements; whether and if certain development and commercial achievements, that are a pre-condition to MustGrow receiving certain fees from royalties and manufacturing sales, will occur; the anticipated value of potential aggregate payments and development capital being USD $35 to $40 million; whether and how Bayer completes any regulatory and market development work; and MustGrow’s expectation to continue collaborating with Bayer to consider other potential applications of MustGrow’s mustard-based biocontrol technologies, including testing in regions not currently covered by the Agreement.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow. Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include market receptivity to investor relations activities as well as those risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2022 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.
This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.
NEW ALBANY, Ohio, Dec. 11, 2023 (GLOBE NEWSWIRE) — Commercial Vehicle Group (“CVG” or the “Company”) (NASDAQ: CVGI), a global leader in the design and manufacturing of electrical systems, vehicle components and accessories, plastic products and robotic assemblies, today announced that its Board of Directors has appointed James Ray as the Company’s next President and Chief Executive Officer. On December 20, 2023, he will replace Interim CEO Robert Griffin, who will continue in his role as Chairman of the Board of Directors for CVG.
The appointment of Mr. Ray follows an extensive, global search process led by international, executive search firm Heidrick & Struggles. The Board thanked Mr. Griffin for leading the Company during the search for the permanent President and CEO.
Mr. Ray has served as an Independent Director on CVG’s Board since March 2020 and will remain on the Board as a non-independent director following his appointment as President and CEO. He also currently serves as an Independent Director on the Boards of Leslie’s, Inc. and Spirit AeroSystems, Inc. In addition to his Board roles, Mr. Ray has provided consulting services to Fortune 100 companies and private equity portfolio companies. He brings extensive global and broad-based experience in many of CVG’s key end markets, including electrical systems. Prior to joining CVG’s Board, Mr. Ray served as President, Engineered Fastening at Stanley Black & Decker, Inc. where he held various global industrial P&L and operational leadership roles from 2013 through 2020. Prior to Stanley Black & Decker, he spent more than 25 years in global P&L and engineering leadership roles at TE Connectivity, Delphi, and General Motors.
Mr. Ray earned a bachelor’s degree in electrical and electronics engineering from Howard University and a master’s degree in manufacturing management from Kettering University.
“We have selected a world-class executive with exceptional experience and leadership skills, and he is extraordinarily well-suited to advance our long-term strategy and accelerate growth,” said Mr. Griffin. “James is a trusted and growth-oriented leader with extensive management experience in global industries. He is the ideal candidate to lead CVG through its next stage of growth, and we expect a very smooth leadership transition.”
Mr. Ray said, “I am honored to be named President and CEO and appreciate the Board’s trust and support. I look forward to working with our approximately 8,000 outstanding employees as we execute our strategy to deliver value to our customers and shareholders. I am excited and energized to lead this diverse organization, a business with an impressive global footprint and diversified product portfolio. In my time on the Board, I have only become more convinced by the strength of CVG’s fundamentals, the transformative strategy and our clear growth potential.”
About CVG
At CVG, we deliver real solutions to complex design, engineering and manufacturing problems while creating positive change for our customers, industries, and communities we serve. Information about the Company and its products is available on the internet at www.cvgrp.com.
Investor Relations Contact: Ross Collins or Stephen Poe Alpha IR Group CVGI@alpha-ir.com
CHATHAM, N.J., Dec. 11, 2023 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP), a biopharmaceutical company with marketed products and a pipeline of development candidates, announced today that Seth Lederman M.D., Chief Executive Officer of Tonix Pharmaceuticals, will present at the National Academies of Sciences, Engineering, and Medicine Committee on the Current State of Research, Development, and Stockpiling of Smallpox Medical Countermeasures public meeting on Thursday, December 14, 2023 via Zoom. Dr. Lederman will participate in a panel discussion on Vaccine Research & Development taking place from 2:00 – 2:45 p.m. ET.
Discussions will explore lessons learned from the recent COVID-19 pandemic and mpox multi-country outbreak to inform an evaluation of the current state of research, development, and stockpiling of smallpox readiness and response measures.
A webcast of the meeting can be found here and will be available under the IR Events tab of the Tonix website at www.tonixpharma.com following the presentation.
Tonix Pharmaceuticals Holding Corp.*
Tonix is a biopharmaceutical company focused on commercializing, developing, discovering and licensing therapeutics to treat and prevent human disease and alleviate suffering. Tonix Medicines, our commercial subsidiary, markets Zembrace® SymTouch® (sumatriptan injection) 3 mg and Tosymra® (sumatriptan nasal spray) 10 mg under a transition services agreement with Upsher-Smith Laboratories, LLC from whom the products were acquired on June 30, 2023. Zembrace SymTouch and Tosymra are each indicated for the treatment of acute migraine with or without aura in adults. Tonix’s development portfolio is composed of central nervous system (CNS), rare disease, immunology and infectious disease product candidates. Tonix’s CNS development portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead development CNS candidate, TNX-102 SL (cyclobenzaprine HCl sublingual tablet), is in mid-Phase 3 development for the management of fibromyalgia, having completed the clinical phase of a potentially confirmatory Phase 3 study in the fourth quarter of 2023, with topline data expected in late December 2023. TNX-102 SL is also being developed to treat fibromyalgia-type Long COVID, a chronic post-acute COVID-19 condition, and topline results were reported in the third quarter of 2023. TNX-1900 (intranasal potentiated oxytocin) is in development as a preventive treatment in chronic migraine, with analysis of topline data from a Phase 2 proof-of-concept study expected to be completed late December 2023. TNX-1900 is also being studied in binge eating disorder, pediatric obesity and social anxiety disorder by academic collaborators under investigator-initiated INDs. TNX-1300 (cocaine esterase) is a biologic designed to treat cocaine intoxication and has been granted Breakthrough Therapy designation by the FDA. A Phase 2 study of TNX-1300 is expected to be initiated in the fourth quarter of 2023. Tonix’s rare disease development portfolio includes TNX-2900 (intranasal potentiated oxytocin) for the treatment of Prader-Willi syndrome. TNX-2900 has been granted Orphan Drug designation by the FDA. Tonix’s immunology development portfolio includes biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500, which is a humanized monoclonal antibody targeting CD40-ligand (CD40L or CD154) being developed for the prevention of allograft rejection and for the treatment of autoimmune diseases. A Phase 1 study of TNX-1500 was initiated in the third quarter of 2023. Tonix’s infectious disease pipeline includes TNX-801, a vaccine in development to prevent smallpox and mpox. TNX-801 also serves as the live virus vaccine platform or recombinant pox vaccine platform for other infectious diseases, including TNX-1800, in development as a vaccine to protect against COVID-19. During the fourth quarter of 2023, TNX-1800 was selected by the U.S. National Institutes of Health (NIH), National Institute of Allergy and Infectious Diseases (NIAID) Project NextGen for inclusion in Phase 1 clinical trials. The infectious disease development portfolio also includes TNX-3900 and TNX-4000, which are classes of broad-spectrum small molecule oral antivirals.
*Tonix’s product development candidates are investigational new drugs or biologics and have not been approved for any indication.
Zembrace SymTouch and Tosymra are registered trademarks of Tonix Medicines. Intravail is a registered trademark of Aegis Therapeutics, LLC, a wholly owned subsidiary of Neurelis, Inc. All other marks are property of their respective owners.
This press release and further information about Tonix can be found at www.tonixpharma.com.
Forward Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Tonix’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; risks related to the failure to successfully market any of our products; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the Securities and Exchange Commission (the “SEC”) on March 13, 2023, and periodic reports filed with the SEC on or after the date thereof. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.
GameSquare’s SaaS solutions to enable Bungie to elevate its content and creator programs
FRISCO, TX / ACCESSWIRE / December 11, 2023 /Stream Hatchet, a GameSquare company (“GameSquare”, or the “Company”) (NASDAQ:GAME)(TSXV:GAME), proudly announces an innovative partnership with Bungie, a leading force in the game publishing world. Bungie will utilize Stream Hatchet’s advanced analytics capabilities to gain profound insights into audience engagement across live streaming and social media platforms. The partnership includes the influencer CRM capabilities of Sideqik, also a GameSquare company, to seamlessly scale and manage Bungie’s creator and affiliate programs.
Justin Kenna, CEO of GameSquare, stated: “Our collaboration with Bungie marks a significant milestone for Stream Hatchet and Sideqik as we benefit from the complementary nature of their offerings. We’re thrilled to empower Bungie with the data and insights that are needed to elevate engagement with the gaming community. We are excited to work with Bungie and support their innovative content and experiences.”
Bungie, renowned for creating iconic franchises like Destiny and Marathon, will use GameSquare’s SaaS based tools to develop a data-driven approach that will empower Bungie to fine-tune their content delivery strategies and enhance their connection with the gaming community. Furthermore, Stream Hatchet enables Bungie to strategically plan and benchmark content and title releases against competitors, ensuring each launch captures the attention of the gaming community to reach its full potential.
About GameSquare Holdings, Inc.
GameSquare is a vertically integrated, digital media, entertainment and technology company that connects global brands with gaming and youth culture audiences. GAME’s end-to-end platform includes GCN, a digital media company focused on gaming and esports audiences, Cut+Sew (Zoned), a gaming and lifestyle marketing agency, USA, Code Red Esports Ltd., a UK based esports talent agency, Complexity Gaming, a leading esports organization, Fourth Frame Studios, a creative production studio, Mission Supply, a merchandise and consumer products business, Frankly Media, programmatic advertising, Stream Hatchet, live streaming analytics, and Sideqik a social influencer marketing platform.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian and United States securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to the closing of the proposed transaction, the Company’s future performance and revenue; the Company’s ability to execute its business plan; and the proposed use of net proceeds of the transaction. These forward-looking statements are provided only to provide information currently available to us and are not intended to serve as and must not be relied on by any investor as, a guarantee, assurance or definitive statement of fact or probability. Forward-looking statements are necessarily based upon a number of estimates and assumptions which include, but are not limited to: the Company being able to grow its business and being able to execute on its business plan, the Company being able to complete and successfully integrate acquisitions, the Company being able to recognize and capitalize on opportunities and the Company continuing to attract qualified personnel to supports its development requirements. These assumptions, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the Company’s ability to achieve its objectives, the Company successfully executing its growth strategy, the ability of the Company to obtain future financings or complete offerings on acceptable terms, failure to leverage the Company’s portfolio across entertainment and media platforms, dependence on the Company’s key personnel and general business, economic, competitive, political and social uncertainties including impact of the COVID-19 pandemic and any variants. These risk factors are not intended to represent a complete list of the factors that could affect the Company which are discussed in the Company’s most recent MD&A. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. GameSquare assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
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.
Corporate Contact
Lou Schwartz, President Phone: (216) 464-6400 Email: ir@gamesquare.com
December 11, 2023 – Vancouver, Canada – Century Lithium Corp. (TSXV:LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company”) is pleased to report progress and further developments at its Lithium Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada.
Highlights
Further process improvements implemented at the Pilot Plant, resulting in lithium grades consistently exceeding 14 grams/liter in the intermediate solutions produced (up from 7.5 grams/liter reported in August 2023)
Pilot Plant tests ongoing completing 23 months of safe operation
Work with Koch Technology Solutions LLC (“KTS”) on direct lithium extraction (“DLE”) is ongoing; delivering repeatable results and exceeding expectations
KTS to complete commercial design of a DLE installation for the Project in January 2024
On August 9, 2023, the Company reported achieving an increase of lithium grades in the intermediate solutions produced at the Pilot Plant to the highest levels to date, with an average grade of 7.5 grams/liter lithium. This increase in concentration was attributed to the integration of Koch Technology Solutions Li-ProTM equipment into the DLE area. In mid-August, the Company added an osmotically assisted reverse osmosis (“OARO”) unit downstream of the DLE area. (Description of the process can be found at the Company’s technology partner Saltworks’ website: OARO—Saltworks Announces Osmotically Assisted RO Tech | Saltworks Technologies). With the OARO unit in operation at the Pilot Plant, Century has consistently achieved lithium grades exceeding 14 grams/liter in its intermediate solutions, accompanied by significantly reduced levels of impurities.
Century’s collaboration with KTS continued to produce exceptional results within the DLE area of the Pilot Plant. With nearly 3,000 operating cycles of the equipment completed since its installation in April 2023, results have exceeded target levels for both lithium extraction and rejection of impurities from leach solutions. With these positive results, the Company anticipates KTS completing its commercial design of a DLE installation for the Project in January 2024.
Century’s team continues to innovate and improve its process flowsheet for the Project through testing equipment, reagents, and alternate configurations of its flowsheet at the Pilot Plant. This work will continue into the coming year as the Pilot Plant generates data to support and further de-risk the Project and addresses recommendations identified during the Feasibility Study.
Qualified Person
Todd Fayram, MMSA-QP and Senior Vice President, Metallurgy of Century Lithium is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.
About Century Lithium Corp.
Century Lithium Corp. (formerly Cypress Development Corp.) is an advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in west-central Nevada, USA. Century Lithium is currently in the pilot stage of testing on material from its lithium-bearing claystone deposit at its Lithium Extraction Facility in Amargosa Valley, Nevada and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.
ON BEHALF OF CENTURY LITHIUM CORP. WILLIAM WILLOUGHBY, PhD., PE President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be “forward-looking statements”. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company atwww.sedar.com for further information.
Calgary, Alberta. December 11, 2023 – LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) (“LithiumBank” or the “Company”) is pleased to announce that the G2L Greenview Resources Inc. (“G2L”) Direct Lithium Extraction (DLE) pilot plant is now in transit to LithiumBank’s Calgary facility. Once completed, the facility will have capacity to process up to 10,000 L/d of brine and yield up to 3 kg/d LCE. Commencing in early 2024, several piloting campaigns are planned as the Boardwalk Project advances into its feasibility studies phase of development. The Company also anticipates that the facility will accelerate the development of the Company’s Park Place, Estevan, South, and Kindersley properties.
The pilot plant has been constructed in Australia by Clean TeQ Water on the behalf of G2L and is based on G2L’s Continuous Direct Lithium Extraction (cDLE®) technology. As seen in recent testwork results (Reported Nov. 22, 2023), the cDLE® process utilizes an ion exchange material (sorbent) designed to selectively extract lithium from the brine while rejecting most contaminants. In the context of the Boardwalk Project, the configuration of the pilot adsorption and elution stages has been purposefully designed to maximize extraction of lithium from the brine. Similarly, the selectivity of the sorbent and elution chemistry allows strong rejection of typical impurities in the brine such as sodium, calcium and chloride. This results in a clean, lithium-rich concentrate suitable for further refining.
At the facility in Calgary, the cDLE® process will demonstrate the cost and process advantages of using common industrial reagents such as quicklime and sulfuric acid. The operating cost benefits of this change in reagent suite will be quantified in an updated Boardwalk Project Preliminary Economic Assessment. Senior process engineers from G2L will head up the installation of the pilot and the first 100 hours of processing. G2L will continue to lend support throughout the entire piloting program which is intended to last up to 18 months following the first 100 hours of operation.
With a processing capacity of up to 10,000 L/d of brine, the Calgary facility will represent one of the largest DLE pilot plants in North America. The pilot plant represents an approximate 1:5,000 scale to the future, commercial production modules which is consistent with scale-up factors used in other hydrometallurgical processes. Within the pilot plant, sufficiently large ion exchange equipment has been installed to permit direct scale-up of these process steps to the commercial plant, accelerating the Boardwalk Project development.
During operation, the pilot plant will be targeting one of the industry’s highest lithium recoveries. This is seen as achievable for the Boardwalk project given the project’s careful staging of adsorption and elution contactors, along with the characteristics of the sorbent. Specifically, experiences from industrial ion exchange processes used for the recovery of precious (gold) and energy (uranium) metals have been leveraged in formulating the Boardwalk DLE flowsheet. This formulation included a trade-off assessment of lithium recovery and capital cost which was undertaken for the purposes of the upcoming updated PEA. As a result, the pilot plant will assess the performance of five contactor stages with results to follow in the PEA.
Figure 1: LithiumBank’s pilot plant as shown in G2L’s manufacturing facility in Melbourne, Australia, prior to shipment.
Furthermore, G2L’s experience in pilot testing of continuous ion exchange for recovery of other metals, including nickel and cobalt, at a similar scale in similar pilot equipment, provides confidence that recovery using counter-current adsorption contactors can be predicted from laboratory scale test work.
The cDLE® pilot plant in transit is a variation of a pilot plant that was designed and constructed by the Clean TeQ Water technical team to extract nickel and cobalt by ion exchange from acid leached lateritic ore in the Sunrise Energy Metals project. The plant was run over several campaigns and the data were subsequently used for a Bankable Feasibility Study (BFS) on the production of battery-grade nickel and cobalt sulfates. The Boardwalk Project cDLE® plant uses the same basic configuration, with critical design changes incorporated to ensure maximum lithium extraction from the brine, and the production of a high purity eluate containing a high lithium concentration.
A video showing the cDLE® pilot plant prior to shipping to Calgary can be viewed below:
About LithiumBank Resources Corp.
LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF), is a publicly traded lithium company that is focused on developing its two flagship projects, Boardwalk and Park Place, in Western Canada. The Company holds 2,480,196 acres of brownfield & exploration lithium brine permits, across 3 districts in Alberta and Saskatchewan. In May 2023, LithiumBank completed an initial robust preliminary economic assessment of its Boardwalk project that targets a 31,350 TPA operation with a pre-tax USD $2.7B NPV and a 21.6% IRR with the potential for a number of near term enhancements. The Company will continue to de- risk its assets through detailed geological modelling and advanced engineering.
For more information see the Company’s Boardwalk Lithium Brine Project Preliminary Economic Assessment Technical report entitled “Preliminary Economic Assessment (PEA) for LithiumBank Resources Boardwalk Lithium-Brine Project in West- Central Alberta, Canada” effectively dated June 16, 2023 filed on SEDAR+ (www.sedarplus.ca) on June 23, 2023 and on the Company’s website (www.lithiumbank.ca).
Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no guarantee that all or any part of the mineral resource will be converted into a mineral reserve. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. A preliminary economic assessment is preliminary in nature as it includes a portion of inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.
About G2L Greenview Resources Inc.
Go2Lithium Inc. was formed in early 2023 as a 50/50 joint venture with Computational Geosciences Inc (CGI), a subsidiary of the Robert Friedland-chaired Ivanhoe Electric Inc. (NYSE:IE) and Clean TeQ Water (ASX:CNQ). Please see Clean TeQ’s case studies for additional information on their suite of water treatment and metal extraction technologies.
The scientific and technical disclosure in this news release has been reviewed and approved by Mr. Kevin Piepgrass (Chief Operations Officer, LithiumBank Resources Corp.), who is a Member of the Association of Professional Engineers and Geoscientists of Alberta (APEGA) and the Association of Professional Engineers and Geoscientists of the Province of British Columbia (APEGBC) and is a Qualified Person (QP) for the purposes of National Instrument 43-101. Mr. Piepgrass consents to the inclusion of the data in the form and context in which it appears.
Contact: LithiumBank Rob Shewchuk CEO & Director rob@lithiumbank.ca (778) 987-9767
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, statements regarding the completion of the Offering and the timing thereof, and the anticipated use of proceeds of the Offering are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should” or “would” or occur. Forward-looking statements are based on certain material assumptions and analyses made by the Company and the opinions and estimates of management as of the date of this press release, including, but not limited to, that the Company will complete the Offering on the terms disclosed, that the Company will receive all necessary regulatory approvals for the Offering, that the Company will use the proceeds of the Offering as currently anticipated; and assumptions relating to the state of the financial markets for the Company’s securities. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, market volatility, unanticipated costs, changes in applicable regulations, and changes in the Company’s business plans. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , 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.
Momentum. The first quarter of fiscal 2024 was Comtech’s eighth consecutive quarter of sequential revenue increase and the second quarter of positive operating income, a substantial improvement, in our view. Net bookings were $185.6 million for a book-to-bill of 1.22x. Revenue visibility is now $1.7 billion, up from a prior $1.1 billion.
1Q24 Results. Revenue totaled $151.9 million, up 2.1% sequentially, within guidance. Y-o-Y revenue was up 15.8%. We were at $151 million. Adjusted EBITDA totaled $18.4 million, versus $10.7 million in 1Q23. We were at $17.1 million. Comtech reported a net loss of $3.3 million, or a loss of $0.11 per share, compared to a net loss of $12.8 million, or $0.46 per share last year. Adjusted EPS was $0.24 versus $0.16. We had forecast a net loss of $2.1 million, or a loss of $0.07 per share and adjusted EPS of $0.22.
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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.
DLH delivers improved health and readiness solutions for federal programs through research, development, and innovative care processes. The Company’s experts in public health, performance evaluation, and health operations solve the complex problems faced by civilian and military customers alike, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,300 employees dedicated to the idea that “Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to public health to improve the lives of millions. For more information, visit www.DLHcorp.com.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , 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.
4Q Results. Revenue of $101.5 million was slightly above management’s revised guidance of $100 million, and up from $67.2 million in 4Q22. While the majority of the revenue increase was due to GRSi, which contributed $33.1 million, the Company did see organic growth. Due to the expected $7.7 million non-cash impairment charge, DLH reported a net loss of $2.6 million, or $0.18/sh compared to net income of $3.4 million, or EPS of $0.24/sh in 4Q22.
Non-GAAP. On a non-GAAP basis, DLH reported adjusted operating income of $7.8 million, adjusted EBITDA of $12.1 million, and adjusted net income of $2.3 million, or $0.16/sh in 4Q23, compared to $5.1 million, $7.0 million, and $3.7 million, or EPS of $0.26/sh, respectively, last year.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , 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.
3QFY24. Net revenue of $114.9 million, compared to $124.0 million in 3Q23, and below our estimate of $124 million. Gross margin improved to 54.8%, up 190 basis points y-o-y. Net income of $5.1 million, or $0.16/sh ($0.19/sh adjusted) compared to net income of $5.2 million, or $0.17/sh (adjusted of $0.20). We had forecasted net income of $4.5 million, or $0.14/sh.
Segments. VB Direct segment revenues totaled $72.3 million, a 9.7% decrease y-o-y. Comparable sales declined 8.2% in the third quarter, primarily driven by weakness in the outlet channel. VB Indirect segment revenues totaled $25.0 million, a 12.0% increase y-o-y, reflecting a significant one-time key account order in 3Q24. Pura Vida revenues totaled $17.7 million, an 18.3% decrease y-o-y, reflecting a decline in sales to wholesale accounts and a decline in ecommerce sales.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
In a strategic move to bolster its presence in the prolific Permian Basin, Occidental Petroleum has reached an agreement to acquire CrownRock for a staggering $12 billion. This significant deal, part of a broader consolidation trend in the U.S. energy sector, positions Occidental to fortify its standing as the ninth-largest energy company in the U.S.
CrownRock, a major privately held energy producer operating in the Permian Basin, is currently developing a 100,000-acre position in the Midland Basin, a crucial segment spanning 20 counties in western Texas. The Midland Basin, contributing 15% of U.S. crude production in 2020, is a key focus for Occidental’s goal to increase its scale in the Permian.
The transaction is set to add a substantial 170,000 barrels of oil equivalent per day to Occidental’s production capabilities. Furthermore, with 1,700 undeveloped locations in the Permian, the deal positions Occidental for strategic expansion in a region vital to the nation’s energy landscape.
To finance this significant acquisition, Occidental plans to issue $9.1 billion in new debt, complemented by approximately $1.7 billion in common stock. Despite these financial obligations, Occidental remains committed to its goal of reducing its overall debt to below $15 billion, showcasing confidence in the long-term benefits of the CrownRock acquisition.
Occidental’s CEO, Vicki Hollub, emphasized the company’s dedication to managing its financial commitments. Despite a 10% drop in Occidental’s stock year-to-date, the acquisition of CrownRock marks the third major deal in the energy sector within a span of two months, highlighting Occidental’s determination to adapt and grow in a rapidly evolving industry.
Berkshire Hathaway, a major holder with about 26% of Occidental’s shares, was not involved in this particular deal. Occidental’s ticker symbol is OXY, and the company anticipates finalizing the CrownRock acquisition in the first quarter of 2024, adding another chapter to its dynamic expansion strategy.
This acquisition is a pivotal moment for Occidental Petroleum as it continues to navigate the evolving energy landscape, strategically positioning itself for future success in the Permian Basin.
Occidental Petroleum Corporation (NYSE: OXY), commonly known as Occidental, has a storied history dating back to its founding in 1920. Established in California, the company evolved from a small oil production venture into one of the largest independent oil and gas exploration and production companies globally. Over the years, Occidental has played a pivotal role in the energy industry, engaging in diverse operations such as oil and gas exploration, production, refining, and marketing. Known for its innovative technologies and strategic acquisitions, Occidental has expanded its reach across the Americas, the Middle East, and North Africa. The company’s commitment to responsible and sustainable energy practices aligns with its pursuit of operational excellence. As the ninth-largest energy company in the U.S., Occidental continues to navigate the dynamic energy landscape, adapting to industry trends and solidifying its position through strategic acquisitions, such as the recent $12 billion CrownRock deal, which reflects its dedication to growth and resilience in an ever-evolving market.
