Author: dburczyk@noblecapitalmarkets.com

Release – Bit Digital, Inc. Announces Finalized Terms for Contract Expansion with Major HPC Customer; Total Contract Value Now Worth Approximately $275 Million

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTBT

NEW YORK, June 25, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York, announced today that it has finalized an agreement to supply an existing customer with an additional 2,048 GPUs over a three-year term commencing upon deployment. With this agreement, the Company will supply this customer with a total of 4,096 GPUs for the respective three-year periods, amounting to total revenue of approximately $275 million, or $92 million on an annualized basis.

To fulfill the contract, the Company has placed a purchase order for 256 servers manufactured by Dell Technologies, an authorized Nvidia OEM, that are equipped with 2,048 Nvidia HGX H100 GPUs along with related equipment, which are expected to be delivered to the Company during July 2024. The servers will be deployed in Iceland at the datacenter where the Company’s existing AI servers are located and are expected to begin generating revenue in August 2024.

The Company intends to finance the deal with a mixture of cash and digital assets on the balance sheet. Bit Digital has elected to enter into a sale-leaseback agreement with a third-party entity for 1,024 GPUs which will reduce the Company’s capital outlay commensurately. Additionally, the Company continues to evaluate debt financing options that would allow the Company to retroactively finance its hardware assets.

Sam Tabar, Bit Digital’s CEO, commented: “We are pleased to finalize terms with our customer to expand their deployment to over 4,000 GPUs. This agreement significantly contributes to our goal of reaching a $100 million annualized revenue run-rate by the end of 2024, bringing us to over 90% of this target. Our primary objective in the HPC business is to execute effectively for our customers and help them achieve their AI ambitions. We continue to see a robust growth trajectory for this segment and look forward to scaling even further as the year progresses.”

About Bit Digital

Bit Digital, Inc. is a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. The Company has established a business line, Bit Digital AI, that offers infrastructure services for artificial intelligence applications. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2023. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors.

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Release – NN, Inc. Announces Chris Bohnert as Chief Financial Officer

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on NNBR

30 Year Veteran Brings Decades of Global Manufacturing Experience and Expertise Leading Through Transformative Periods

CHARLOTTE, N.C., June 24, 2024 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, today announced the appointment of Chris Bohnert as Chief Financial Officer, effective June 25, 2024. Bohnert brings over 30 years of global manufacturing leadership experience as an accomplished CFO with significant experience in successful business transitions and deep accounting expertise. Bohnert will report directly to NN’s Chief Executive Officer, Harold Bevis. Bohnert succeeds Mike Felcher, who is departing the company to pursue other opportunities. Felcher will stay on as a consultant to assist with the transition.

“Chris’s deep experience in manufacturing company turnarounds, IT, investor relations, and banking will make an immediate impact,” said Harold Bevis, President and CEO of NN, Inc. “Chris and I have worked together before and now is the right time to make this change. We are going to both pick up the pace and broaden our objectives. Chris is operationally savvy, proactive and has a track record of delivering results. This will be an accelerator for NN’s transformation.”

Bohnert has extensive experience in senior financial leadership roles at public and private equity companies, having most recently served as advisor to the CEO at Commercial Vehicle Group (CVG), and prior to that, EVP and CFO. In his role at CVG, he led a global team of 200 people across finance, accounting and IT, and helped lead a significant transformation of the company. Bohnert has also held senior financial leadership roles at Calumet, Titan International, Silgan Plastics and Fleischmann’s Yeast.

“I am deeply honored to join NN and help the team achieve its transformation goals,” said Bohnert. “This role represents a unique opportunity to blend my financial skills in banking and investor relations with my global operations, IT and manufacturing expertise. The company has significantly enhanced its operations, cash flow and profitability profile in the last year, and I believe we have a significant opportunity to step up the pace and magnitude of our efforts. This will help us drive value for all of our stakeholders.”

As a material inducement to Mr. Bohnert to enter into employment with the Company, the Board of Directors approved the grant of the following inducement equity awards (collectively, the Inducement Awards), granted outside the Company’s stockholder-approved equity incentive plan, with a grant date of June 25, 2024: (i) 189,000 time-vesting restricted stock units (RSUs), which will vest ratably in one-fifth increments on each of the first five anniversaries of the grant date; and (ii) 287,000 performance-vesting RSUs (PSUs), 41,000 of which will be earned upon the Company’s average stock price meeting or exceeding a price of $5.00 per share over a period of 20 consecutive days, with an additional 41,000 PSUs being earned for each dollar increase to the average stock price thereafter, with a cap of $11.00, subject further to a five-year vesting period.

As a result of the Inducement Grants, the Company does not anticipate granting any further equity, as part of his annual compensation or otherwise, to Mr. Bohnert before 2029, and as such, the Inducement Awards effectively serve as his 2024, 2025, 2026, 2027, and 2028 annual long-term incentive awards. The Company designed the Inducement Awards, in part, to (i) align, in case of the PSUs, the interests of Mr. Bohnert and the Company’s shareholders, as the equity is only earned as shareholders experience value creation, and (ii) prioritize retention of Mr. Bohnert through the entire five-year performance and vesting period.

About NN, Inc.

NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and Asia. For more information about the company and its products, please visit www.nninc.com.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. Except for specific historical information, many of the matters discussed in this press release may express or imply projections of revenues or expenditures, statements of plans and objectives or future operations or statements of future economic performance. These statements may discuss goals, intentions, and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to NN, Inc. based on current beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “possible,” “potential,” “predict,” “project” or other similar words, phrases or expressions. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such forward-looking statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; the impacts of pandemics, epidemics, disease outbreaks and other public health crises on our financial condition, business operations and liquidity; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; material changes in the costs and availability of raw materials; economic, social, political and geopolitical instability, military conflict, currency fluctuation, and other risks of doing business outside of the United States; inflationary pressures and changes in the cost or availability of materials, supply chain shortages and disruptions, the availability of labor and labor disruptions along the supply chain; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures, as well as expansion of end markets and product offerings; our ability to hire or retain key personnel; the level of our indebtedness; the restrictions contained in our debt agreements; our ability to obtain financing at favorable rates, if at all, and to refinance existing debt as it matures; new laws and governmental regulations; the impact of climate change on our operations; and cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.

Contact:
Joe Caminiti or Stephen Poe, Investors
Tim Peters or Emma Brandeis, Media
NNBR@alpha-ir.com
312-445-2870

Source: NN, Inc.

Release – Ahead of Artemis 2, V2X Awarded $265 Million Contract to Support NASA Astronauts Going to Space

Posted on by dburczyk@noblecapitalmarkets.com

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MCLEAN, Va., June 24, 2024 /PRNewswire/ — V2X, Inc. (NYSE: VVX) has been awarded a $265 million contract to maintain safe operations at NASA’s Johnson Space Center in Houston, specifically at the Sonny Carter Training Facility, where astronauts receive crucial training to prepare for human spaceflight missions. V2X will deliver technical support to ensure the reliability of the integrated hardware and software systems utilized at the Neutral Buoyancy Laboratory (NBL). The contract’s period of performance extends until 2033, including option periods.

The NBL will serve as a training ground for NASA’s upcoming Artemis 2 mission, scheduled to launch in September 2025. The Artemis 2 missions will include the historic journey of the first woman and person of color to visit the moon, marking humanity’s return to the lunar surface after more than fifty years. The crew will land near the moon’s south pole, a region characterized by immense craters, extreme temperatures, and areas of permanent darkness, thus requiring extensive and meticulous preparation.

“We are honored to continue our partnership with NASA and support their mission to explore the frontiers of space,” said Jeremy Wensinger, President and Chief Executive Officer of V2X. “The Neutral Buoyancy Laboratory is an unparalleled facility, and we are committed to ensuring its readiness for the next generation of space exploration, including the groundbreaking Artemis 2 mission.”

At the NBL astronauts rehearse recovery missions, which are vital for the final stage of spaceflight when the crew’s capsule returns to Earth and splashes down into the ocean. Additionally, the laboratory houses a replica of the International Space Station, where astronauts practice working in microgravity, simulating the reduced gravity experienced in space. Recently, NASA and V2X have upgraded the NBL by converting a section into a realistic model of the moon’s surface.

As a critical asset for NASA, the NBL operates continuously to support the dynamic demands of human spaceflight.  For over 30 years, it has been instrumental in training astronauts for space exploration, providing a realistic environment for practicing spacewalks and recovery missions.

About V2X

V2X delivers a comprehensive suite of integrated solutions across defense and commercial training, operations and logistics, aerospace, and technology markets to national security, defense, civilian and international clients. Our global team of approximately 16,000 employees brings innovation to every point in the mission lifecycle, from preparation to operations, to sustainment, as it tackles the most complex challenges with agility, grit, and dedication.

Media Contact
Angelica Spanos Deoudes 
Director, Corporate Communications  
Angelica.Deoudes@goV2X.com 
571-338-5195

Investor Contact
Mike Smith, CFA 
Vice President, Treasury, Corporate Development and Investor Relations 
IR@goV2X.com 
719-637-5773

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/ahead-of-artemis-2-v2x-awarded-265-million-contract-to-support-nasa-astronauts-going-to-space-302179705.html

SOURCE V2X, Inc.

Release – The GEO Group Announces Discontinuation of Lawton Correctional and Rehabilitation Facility Contract in Oklahoma

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on GEO

BOCA RATON, Fla.–(BUSINESS WIRE)–Jun. 20, 2024– The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today the discontinuation of its contract with the Oklahoma Department of Corrections for the company-owned, 2,600-bed Lawton Correctional and Rehabilitation Facility, which is set to expire on June 30, 2024, unless extended for an additional three months under terms proposed by GEO.

We are proud of our long-standing public-private partnership with the Oklahoma Department of Corrections, which dates to 1998. Over the last 26 years, we have made significant capital investments to provide needed correctional bedspace to help reduce Oklahoma prison overcrowding. We have implemented a world class rehabilitation program through our GEO Continuum of Care to help lower recidivism in the State of Oklahoma. Throughout this time, the health and safety of all those in our care and of our employees has always been our number one priority. All funding increases we have received from the State of Oklahoma in prior years have been directly allocated to increase wages for staff at the Lawton Correctional and Rehabilitation Facility.

In recent years, wage inflation and staffing shortages, following the COVID pandemic, have negatively impacted staff recruitment and retention at all state correctional facilities. Unfortunately, the recent veto of funding that was approved by the Oklahoma State Legislature will only exacerbate our significant challenges. Upon extensive consideration of the current funding levels and resources relative to the present service requirements, we have determined that we are no longer willing to manage the 2,600-bed Lawton Correctional and Rehabilitation Facility without changes to financial and operational terms. We have proposed a new three-month transition agreement starting July 1, 2024, allowing for an orderly relocation of inmates if new funding and contract terms cannot be mutually agreed upon.

The discontinuation of the Lawton Correctional and Rehabilitation Facility contract will not have a material impact on GEO’s financial guidance.

Additionally, as has been reported in the media, as a result of recent significant damage caused to the physical plant and equipment at our company-owned, 1,940-bed Great Plains Correctional Facility, we have issued a default notice to the State of Oklahoma under our lease agreement for the Great Plains Correctional Facility, which is currently operated and maintained by the Oklahoma Department of Corrections. The default notice provides for a cure period of 30 days for the State of Oklahoma to carry out all necessary physical plant and equipment repairs at an estimated cost of $3 million.

About The GEO Group

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 100 facilities totaling approximately 81,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

Use of forward-looking statements

This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Risks and uncertainties that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to, risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including its Form 10-K, 10-Q, and 8-K reports. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.

Pablo E. Paez (866) 301 4436
Executive Vice President, Corporate Relations

Source: The GEO Group, Inc.

Release – Office Depot Expands Business Services Through New Collaboration with Dun & Bradstreet

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on ODP

BOCA RATON, Fla. & JACKSONVILLE, Fla.–(BUSINESS WIRE)–Jun. 20, 2024– Office Depot, a leading omnichannel retailer dedicated to helping its small business, home office and education customers live more productive and organized lives through innovative products and services, is collaborating with Dun & Bradstreet (NYSE: DNB), a leading global provider of business decisioning data and analytics, to launch Power.Up™, a program that offers business owners credit, marketing, data, creative, and advertising services to help them grow and succeed.

“At Office Depot, we’re always striving to empower business owners to pursue their dreams and achieve their vision of success,” said Kevin Moffitt, executive vice president of the ODP Corporation and president of Office Depot. “By joining forces with Dun & Bradstreet, we can combine their extensive experience and suite of services with our already comprehensive offering of business solutions. This collaboration equips our customers with the tools they need to succeed.”

In designing the Power.Up™ program, Office Depot and Dun & Bradstreet listened to the needs of businesses across the country to help them address the ever-changing challenges that come with running an organization. The goal of the Power.Up™ program is to help organizations save time and money with business services that help create efficiencies to operate and grow. In Office Depot and OfficeMax stores across the U.S., customers will be able to easily access a QR code that describes the Power.Up™ program and connects them with someone directly to discuss the services available. Additionally, representatives from Dun & Bradstreet will also be on-hand in select locations to help answer questions and guide customers on how to get started.

“We know millions of businesses utilize Office Depot’s stores to purchase supplies to support their day-to-day operations. These customers are under more pressure than ever due to inflation and supply chain issues, in addition to the everyday management of their business,” said Eric Kider, General Manager, Sales & Marketing Solutions, Dun & Bradstreet. “With Office Depot, we are providing solutions with services tailored to their customers’ needs to give them more opportunities to serve their customers and communities.”

The Dun & Bradstreet services include:

  • Business Information Services – this suite of solutions helps businesses build and manage their business credit file.
  • D-U-N-S® Number Registration – a D-U-N-S Number is an important step in establishing a business identity and business creditworthiness, which can help when seeking new contracts, applying for loans, and evaluating potential partners.
  • Marketing Data Analysis – powerful visualizations, hundreds of business and technology related attributes, visitor website activity data, and analytic models to identify those targets most likely to become customers faster.
  • Managed Email Campaigns – prospect and nurture new customers with managed email campaigns to U.S.-based contacts; leverage an experienced campaign manager to plan, set up, execute, optimize, and report on email campaigns.
  • Managed Display/Social Media Advertising – display and social media advertising services that help businesses request campaigns, create ads, or upload existing ad assets, and receive reporting on advertising performance.
  • Creative & Copy – creative services to support campaigns – from ad and email creation to responsive website design.
  • Campaign Reporting – insightful channel and performance reports for data-driven campaign optimization.

In addition to these newly introduced services, Office Depot provides a comprehensive range of business solutions in conjunction with valued partners. These encompass print, copy and shipping services, print design, furniture assembly, secure shredding, tech support, and direct mail solutions.

To learn more about the Power.Up™ program, please visit (https://www.officedepot.dnbpowerup.com).

About Office Depot
Office Depot, LLC, an operating company of The ODP Corporation, is a leading specialty retailer providing innovative products and services delivered through a fully integrated omnichannel platform of Office Depot and OfficeMax retail stores and an award-winning online presence, OfficeDepot.com, to support the productivity and organization of its small business, home office and education clients. Office Depot is committed to enabling its clients’ success, strengthening local communities and providing equal opportunities for all. For more information, visit officedepot.com, download the Office Depot app on your iPhone or Android and follow @officedepot on Facebook, Twitter, Instagram and TikTok.

Office Depot is a trademark of The Office Club, LLC. OfficeMax is a trademark of OMX, Inc. Any other product or company names mentioned herein are the trademarks of their respective owners.

About Dun & Bradstreet
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit www.dnb.com.

Office Depot Media Contact:
MediaRelations@officedepot.com

Dun & Bradstreet Media Contact:
Dawn McAbee
904-648-6328
Mcabeed@dnb.com

Source: Office Depot, LLC

Release – Comtech Announces Third Quarter Fiscal 2024 Results and Entered into New $222.0 Million Credit Facility

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on CMTL

CHANDLER, Ariz. – June 18, 2024 — Comtech (NASDAQ: CMTL) (“the Company”) today announced its third quarter fiscal 2024 financial results in a letter to shareholders which is now posted to the Investor Relations section of Comtech’s website. Investors are invited to access the third quarter fiscal 2024 shareholder letter at comtech.com/investors/. A copy of the letter will also be filed with the Securities and Exchange Commission in a Form 8-K.

Comtech also announced that on June 17, 2024, the Company entered into a $222.0 million credit facility with a new syndicate of lenders which is expected to be funded on or around June 18, 2024. The New Credit Facility matures on July 31, 2028, consists of a committed $162.0 million term loan facility and $60.0 million revolver loan facility and is expected to have outstanding borrowings at close of approximately $187.0 million, reflecting $25.0 million drawn on the revolver. A copy of the credit agreement will be filed with the Securities and Exchange Commission in a Form 8-K.

Comtech also intends to host an earnings conference call at 8:30AM ET today, Tuesday, June 18, 2024. Individuals can access the conference call by dialing (800) 267-6316 (domestic) or (203) 518-9783 (international) and using the conference I.D. of “Comtech.” A replay of the conference call will be available for two weeks by dialing (888) 566-0152 or (402) 220-9186. A live webcast of the call is also available at comtech.com/investors/.

About Comtech

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

Forward-Looking Statements

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

PCMTL

Investor Relations

Maria Ceriello

631-962-7102

investors@comtech.com

Release – Office Depot OfficeMax Partners with Dormify, a Leader in Dorm Room Essentials, to Ease Back-To-School Shopping and Logistics Across 200 Markets

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on ODP

From essential bed sheets and stylish accessories to sleek storage solutions and full room bundles — the Office Depot OfficeMax assortment of Dormify essentials will be accessible to students in stores and online, making it easier than ever to plan for move-in week.

BOCA RATON, Fla.–(BUSINESS WIRE)–Jun. 17, 2024– Office Depot is setting college students up for a successful 2024–2025 school year with its expanded collection of college dorm and school supplies in a new partnership with Dormify, a leader in dorm room decor and clever essentials. Students can shop an array of new stylish furniture and dorm room must-haves online at officedepot.com and in 200 stores.

“Our partnership with Dormify allows Office Depot OfficeMax to offer more college dorm supplies through our efficient and versatile shopping and shipping options,” said Kevin Moffitt, executive vice president of The ODP Corporation and president of Office Depot. “We’re passionate about enabling our customers’ educational goals, and providing students with the tools to be successful is an essential part of that mission. We are proud to empower students of all ages to thrive and positively impact the world.”

There are many ways to shop and ship beyond standard deliveries and in-store purchases. For those who plan ahead, Dormify products will be available in almost 200 stores throughout the summer with the option to ship to another store location for pickup in your college area during move-in. Students who buy online can take advantage of Office Depot’s free 20-minute in-store/curbside pickup or free delivery on orders over $35.

“The preparation for college move-in is rife with to-do lists, errands, and tasks. We’re committed to making the process as easy as possible by simplifying the logistics and have found a great partner in Office Depot,” says Amanda Zuckerman, co-founder of Dormify. “We’re thrilled that students and their families will have the opportunity to see, feel, and shop our products in-person at Office Depot in 200 markets that are around the corner from so many campuses. Students will also be able to place orders over the summer at a store near their hometown and have it ready for pickup at an Office Depot location near their school during move-in—a critical offering that we know our customers are requesting.”

The Dormify college dorm collection at Office Depot OfficeMax includes stylish storage and décor items that range from $15.99 to $309.99 such as best-sellers like eyelash fringe comforter and sham set, velvet flower-shaped pillow, 3-drawer cart with USB ports, twin XL bedding bundle, and much more.

Office Depot is giving 10 people a chance to try the new collection themselves with a dorm makeover. Now through June 24, enter for your chance to win a $500 Office Depot OfficeMax merchandise card to put towards a fully outfitted dorm room for the upcoming school year. No purchase necessary. Visit officedepot.com/giveaways to enter.

To see and shop the full collection of college dorm furniture and décor, please visit: www.officedepot.com/l/school-supplies/college-supplies.

About Office Depot
Office Depot, LLC, an operating company of The ODP Corporation, is a leading specialty retailer providing innovative products and services delivered through a fully integrated omnichannel platform of Office Depot and OfficeMax retail stores and an award-winning online presence, OfficeDepot.com, to support the productivity and organization of its small business, home office and education clients. Office Depot is committed to enabling its clients’ success, strengthening local communities and providing equal opportunities for all. For more information, visit officedepot.com, download the Office Depot app on your iPhone or Android and follow @officedepot on Facebook, Twitter, Instagram and TikTok.

Office Depot is a trademark of The Office Club, LLC. OfficeMax is a trademark of OMX, Inc. Any other product or company names mentioned herein are the trademarks of their respective owners.

About Dormify
Dormify is a college lifestyle and small-space decorating destination for the style-obsessed. Dormify simplifies the shopping experience for college students and post-grads by curating and creating exclusive products designed for small-space living without sacrificing style. Founded by Amanda Zuckerman and her mom, Karen, in 2011 when Amanda was in college, Dormify has become a trusted resource that makes outfitting your college dorm or apartment with everything you need (and want) stress-free and fun. Dormify has been highlighted by The New York Times, The Washington Post, Good Morning America, and The TODAY Show, and co-founder Amanda Zuckerman was named to Forbes “30 Under 30” list.

To learn more, visit dormify.com.

Jennifer Robins or Swati Joshi
Media Relations
mediarelations@officedepot.com

Source: Office Depot, LLC

Release – Kelly Completes Sale of Ayers Group, a Division of KellyOCG, to Keystone Partners

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on KELYA

TROY, Mich., June 12, 2024 (GLOBE NEWSWIRE) — Kelly (Nasdaq: KELYA, KELYB), a leading global specialty talent solutions provider, has completed the sale of Ayers Group, a division of KellyOCG, to Keystone Partners, a Silver Oak Services Partners LLC portfolio company. Ayers Group provides outplacement, executive coaching, and leadership development solutions to employers across a wide range of industries. Terms of the sale were not disclosed.

The sale of Ayers Group sharpens KellyOCG’s focus on global recruitment process outsourcing (RPO) and managed service provider (MSP) solutions. The transaction also unlocks incremental capital to redeploy toward Kelly’s specialty strategy.

“The sale of Ayers Group marks another step forward on KellyOCG’s journey to become the leading provider of global RPO and MSP solutions, which are key pillars of our strategy to meet the buyer where they are in their journey to total talent management,” said Tammy Browning, president, KellyOCG. “This transaction reflects our commitment to directing resources to specialties where KellyOCG is well positioned to compete and win over the long term.”

The sale of Ayers Group is the latest in a series of strategic actions Kelly has executed to further optimize its operating model, unlock capital, and strengthen its competitive position in higher-margin, higher-growth specialties. These actions include selling its European staffing operations; monetizing non-core real estate holdings and businesses; unwinding Kelly’s cross-shareholding arrangement with Persol and reducing the company’s ownership interest in PersolKelly, its Asia-Pacific staffing joint venture; and selling its operations in Brazil and Russia.

About Kelly®

Kelly Services, Inc. (Nasdaq: KELYA, KELYB) helps companies recruit and manage skilled workers and helps job seekers find great work. Since inventing the staffing industry in 1946, we have become experts in the many industries and local and global markets we serve. With a network of suppliers and partners around the world, we connect more than 500,000 people with work every year. Our suite of outsourcing and consulting services ensures companies have the people they need, when and where they are needed most. Headquartered in Troy, Michigan, we empower businesses and individuals to access limitless opportunities in industries such as science, engineering, technology, education, manufacturing, retail, finance, and energy. Revenue in 2023 was $4.8 billion. Learn more at kellyservices.com.

About The Ayers Group

The Ayers Group, headquartered in New York City, has helped companies adapt to change through comprehensive human resources and organizational development solutions. Learn more at www.ayers.com. 

About Keystone Partners

Founded in 1982, Keystone Partners is a leading outplacement, executive coaching and leadership development consulting firm headquartered in Boston, Massachusetts. Keystone offers a range of services designed to help individuals and organizations successfully navigate the complexities of career management and development. 

Forward-Looking Statements

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Kelly’s financial expectations, are forward-looking statements. Factors that could cause actual results to differ materially from those contained in this release include, but are not limited to, (i) changing market and economic conditions, (ii) disruption in the labor market and weakened demand for human capital resulting from technological advances, loss of large corporate customers and government contractor requirements, (iii) the impact of laws and regulations (including federal, state and international tax laws), (iv) unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, (v) litigation and other legal liabilities (including tax liabilities) in excess of our estimates, (vi) our ability to achieve our business’s anticipated growth strategies, (vi) our future business development, results of operations and financial condition, (vii) damage to our brands, (viii) dependency on third parties for the execution of critical functions, (ix) conducting business in foreign countries, including foreign currency fluctuations, (x) availability of temporary workers with appropriate skills required by customers, (xi) cyberattacks or other breaches of network or information technology security, and (xii) other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release and we undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

KLYA-FIN

Release – CoreCivic Receives Termination Notice From U.S. Immigration and Customs Enforcement At South Texas Family Residential Center

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on CXW

BRENTWOOD, Tenn., June 10, 2024 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (“CoreCivic”) received notification today from U.S. Immigration and Customs Enforcement (“ICE”) that the agency intends to terminate an inter-governmental service agreement (“IGSA”) between CoreCivic and ICE for services at the South Texas Family Residential Center in Dilley, TX (the “Facility”) effective in 60 days, or on or about August 9, 2024.

For the year ended December 31, 2023, and for the quarter ended March 31, 2024, total revenues at the Facility were $156.6 million and $39.3 million, respectively. Given that the notice of termination was received today and based on cost uncertainties associated with the closure, CoreCivic is suspending its financial guidance for 2024. However, we estimate the annualized financial impact to be a reduction to earnings per share of approximately $0.38 to $0.41.

South Texas Family Residential Center was initially opened during the Obama-Biden administration to improve conditions for a high volume of families then arriving at the border. The facility features such amenities as turf soccer fields and onsite medical care. During 2021, the facility’s mission shifted to detention of single adults. The population at the Facility stood at 1,561 as of June 9, 2024.

CoreCivic leases the Facility and the site upon which it was constructed from a third-party lessor. CoreCivic’s lease agreement with the lessor is over a base period concurrent with the IGSA, which was amended in September 2020 to extend the term of the agreement through September 2026. ICE’s termination rights, which permit ICE to terminate the agreement for convenience or non-appropriation of funds, without penalty, by providing CoreCivic with at least a 60-day notice, were unchanged under the extension. Concurrent with the extension of the amended IGSA, the lease with the third-party lessor for the site was also extended through September 2026, and permits CoreCivic to terminate the lease agreement with a notification period of at least 60 days. CoreCivic has provided such notice of lease termination to the lessor.

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

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements concerning the termination of the IGSA, the anticipated financial impact, and the termination of CoreCivic’s lease agreement for the Facility. These forward-looking statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely,” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Such forward-looking statements may be affected by risks and uncertainties in CoreCivic’s business and market conditions. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. Important factors that could cause actual results to differ are described in the filings made from time to time by CoreCivic with the Securities and Exchange Commission (“SEC”) and include the risk factors described in CoreCivic’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 20, 2024. Except as required by applicable law, CoreCivic undertakes no obligation to update forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.

Release – Palamina Corp. to Acquire Aurania’s Subsidiary in Peru

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on AUIAF

Aurania Resources Ltd. (TSXV: ARU; OTCQB: AUIAF; Frankfurt: 20Q) (“Aurania” or the “Company”) announces that it has signed a share purchase agreement (the “Agreement”) with Palamina Corp. (“Palamina”) whereby Aurania has agreed to sell to Palamina 100% of the shares of Aurania’s Peruvian wholly-owned subsidiary, Sociedad Minera Vicus Exploraciones S.A.C. (“Vicus”). Under the Agreement, Aurania will receive 350,000 common shares of Palamina and a 1% Net Smelter Return (“NSR”) royalty over certain mining claims located in Peru which are held by Vicus. Palamina has the option to buy back half of the NSR for $1,000,000 at any time.

President and CEO, Dr. Keith Barron commented, “We are very pleased to reach this agreement with Palamina because of their plans to bring value to the project in Peru.  Aurania will keep an interest through the NSR, and our focus will continue to be on advancing activities in Ecuador and France.”

About Palamina Corp.

Palamina is a gold exploration company with a land bank of gold projects in the Puno Orogenic Gold Belt in south-eastern Peru. Palamina is set to commence a drill program at its Usicayos gold project. Palamina holds a 15.4% equity interest in Winshear Gold Corp. are also scheduled to conduct an inaugural drill program at their Gaban Gold Project in 2024. Palamina also has an “acquire and hold” strategy with copper silver assets in the Santa Lucia district in southeastern Peru and the San Martin district in northeastern Peru. Palamina has 71,634,836 shares outstanding and trades on the TSX Venture Exchange under the symbol PA and on the OTCQB Venture Market under the symbol PLMNF.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities – Cutucú Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

To view the June 10, 2024 press release including forward looking statements, click here.

Release – Bit Digital, Inc. Announces Monthly Production Update for May 2024

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on BTBT

NEW YORK, June 5, 2024 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York, announced its unaudited digital asset production and corporate updates for the month of May 2024.

Corporate Highlights for May 2024

  • The Company had 256 servers actively generating revenue from its initial Bit Digital AI contract, as of May 31, 2024. The Company earned an estimated $4.2 million of unaudited revenue from this contract during the month of May 2024.
  • In May 2024, the Company produced 63.3 BTC, a 47% decrease compared to the prior month. The decrease was predominantly due to the reduction of bitcoin block rewards following the April halving event.
  • The Company’s active hash rate was approximately 2.54 EH/s as of May 31, 2024. The decrease from the prior month was driven by voluntary curtailment activity.
  • Treasury holdings1 of BTC and ETH were 1,038.4 and 20,508.3 with a fair market value of approximately $70.1 million and $77.1 million, respectively, on May 31, 2024.
  • The BTC equivalent2 of our digital asset holdings as of May 31, 2024, was approximately 2,188.9 or approximately $147.7 million.
  • The Company had cash and cash equivalents of $47.3 million, and total liquidity (defined as cash and cash equivalents, USDC, and the fair market value of digital assets) of approximately $195.0 million, as of May 31, 2024.

Proof-of-Stake Highlights

  • The Company had approximately 17,184 ETH actively staked in native staking protocols as of May 31, 2024.
  • Bit Digital earned a blended APY of approximately 3.1% on its staked ETH position for the month of May 2024.
  • The Company earned aggregate staking rewards of approximately 45.8 ETH during May 2024.

Upcoming Events

  • Bitcoin Prague 2024 on June 13-15th
  • Singular Research Summer Solstice Conference on June 20th
  • Northland Growth Conference 2024 on June 25th
  • Noble Capital Markets Emerging Growth Consumer / Entertainment / Media Virtual Conference on June 26-27th

About Bit Digital

Bit Digital, Inc. is a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York City. Our bitcoin mining operations are located in the US, Canada, and Iceland. The Company has established a business line, Bit Digital AI, that offers specialized cloud-infrastructure services for artificial intelligence applications. For additional information, please contact ir@bit-digital.com or visit our website at www.bit-digital.com.

Investor Notice 

Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under “Risk Factors” in Item 3.D of our most recent Annual Report on Form 20-F for the fiscal year ended December 31, 2023. If any material risk was to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. Future changes in the network-wide mining difficulty rate or bitcoin hash rate may also materially affect the future performance of Bit Digital’s production of bitcoin. Actual operating results will vary depending on many factors including network difficulty rate, total hash rate of the network, the operations of our facilities, the status of our miners, and other factors.

Safe Harbor Statement 

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Footnotes:

1 “Treasury holdings” excludes approximately 2,701 ETH that were transferred to an internally managed fund.

2 “BTC equivalent” is a hypothetical illustration of the value of our digital asset portfolio in bitcoin terms. BTC equivalent is defined as if all non-BTC digital assets, comprised of ETH, and USDC, were converted into BTC as of May 31, 2024, and added to our existing BTC balance. Conversion values are found using the closing price on coinmarketcap.com.

Release – The GEO Group Announces Appointment of Chief Financial Officer

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on GEO

BOCA RATON, Fla.–(BUSINESS WIRE)–Jun. 5, 2024– The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today the appointment of Mark J. Suchinski as Senior Vice President and Chief Financial Officer, effective July 8, 2024.

Mr. Suchinski has served as Senior Vice President and Chief Financial Officer for Spirit AeroSystems since 2020. In this role, Mr. Suchinski has been responsible for the overall financial management of Spirit AeroSystems, its financial reporting and transparency, and multiple corporate functions including Treasury, Investor Relations, Strategy, and Mergers and Acquisitions. Mr. Suchinski joined Spirit AeroSystems in 2006 as the Controller for the Aerostructures Segment. He subsequently served in increasingly senior positions, including as Vice President of Financial Planning & Analysis and Corporate Contracts, Vice President of Finance and Treasurer, and Vice President of Quality. Prior to joining Spirit AeroSystems, Mr. Suchinski held the position of Vice President and Chief Accounting Officer for Home Products International from 2000 to 2006. Mr. Suchinski attended DePaul University where he earned a Bachelor of Science degree in Accounting.

George C. Zoley, Executive Chairman of GEO, said, “Mark Suchinski has extensive experience in corporate finance, capital markets, financial reporting, and business management, having held multiple leadership positions throughout his career. He also brings unique skills and knowledge in manufacturing and supply chain management to our company. We are pleased to welcome him to GEO’s Senior Management Team.”

Brian R. Evans, GEO’s Chief Executive Officer, said, “We are pleased to have Mark Suchinski join our Senior Management Team. We believe that his unique skill set, knowledge and experience, across a broad range of key areas of corporate finance and business management, will be an asset to our company.”

Mr. Suchinski, stated, “I am excited to join this worldclass organization and have been impressed with George Zoley, Brian Evans, and the entire GEO leadership team. I look forward to partnering with them to drive value creation for our employees and shareholders.”

About The GEO Group

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 100 facilities totaling approximately 81,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

Use of forward-looking statements

This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Risks and uncertainties that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to, risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including its Form 10-K, 10-Q, and 8-K reports. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.

Pablo E. Paez, (866) 301 4436
Executive Vice President, Corporate Relations

Source: The GEO Group, Inc.

Release – Hemisphere Energy Declares Special Dividend

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on HMENF

Vancouver, British Columbia–(Newsfile Corp. – June 4, 2024) – Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) (“Hemisphere” or the “Company”) is pleased to announce that its board of directors has approved the declaration of a special dividend to shareholders.

Given the strong financial position and performance outlook of the Company, Hemisphere is pleased to announce that its board of directors has approved the declaration of a special dividend of C$0.03 per common share. The special dividend is part of Hemisphere’s comprehensive shareholder return model, and will be paid on July 26, 2024 to shareholders of record on July 12, 2024. This special dividend is designated as an eligible dividend for Canadian income tax purposes. It is in addition to the Company’s quarterly base dividend of C$0.025 per common share announced on May 29, 2024, and is in accordance with the Company’s dividend policy.

Hemisphere has committed to shareholder returns of $10.7 million thus far in 2024, including shares repurchased and cancelled under the Company’s normal course issuer bid, two quarterly dividend payments in February and June, and the special dividend payment in July. This return of capital is funded entirely by the Company’s free cash flow and is made possible by its high-margin enhanced oil recovery (“EOR”) assets, ultra-low production decline, and healthy balance sheet.

Subsequent to Hemisphere’s last news release, the Company has now brought online all three producers in its new Marsden, Saskatchewan development play. The purpose of primary production at these wells prior to polymer flood start-up is to gather fluid samples, pressure data, and other relevant reservoir data that will assist in EOR project planning. Construction of Hemisphere’s multi-well battery is currently underway, with anticipated polymer skid delivery and EOR project start-up in the third quarter.

About Hemisphere Energy Corporation

Hemisphere is a dividend-paying Canadian oil company focused on maximizing value per share growth with the sustainable development of its high netback, low decline conventional heavy oil assets through polymer flood EOR methods. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol “HME” and on the OTCQX Venture Marketplace under the symbol “HMENF”.

For further information, please visit the Company’s website at www.hemisphereenergy.ca to view its corporate presentation or contact:

Don Simmons, President & Chief Executive Officer
Telephone: (604) 685-9255
Email: info@hemisphereenergy.ca

Website: www.hemisphereenergy.ca

Forward-looking Statements

Certain statements included in this news release constitute forward-looking statements or forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as “anticipate”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “could”, “plan”, “intend”, “should”, “believe”, “outlook”, “potential”, “target” and similar words suggesting future events or future performance. In particular, but without limiting the generality of the foregoing, this news release includes forward-looking statements including that a quarterly dividend will be paid in June 2024; that a special dividend will be paid to shareholders on July 26, 2024 to shareholders of record on July 12, 2024; and the timing of Hemisphere’s anticipated polymer skid delivery and EOR project start-up in the third quarter.

Forward‐looking statements are based on a number of material factors, expectations or assumptions of Hemisphere which have been used to develop such statements and information, but which may prove to be incorrect. Although Hemisphere believes that the expectations reflected in such forward‐looking statements or information are reasonable, undue reliance should not be placed on forward‐looking statements because Hemisphere can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the timing for payment of the special dividend; no delays in the anticipated timing for delivery of the polymer skid and EOR project; the general continuance of current industry conditions; the timely receipt of any required regulatory approvals; the ability of Hemisphere to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which Hemisphere has an interest in to operate the field in a safe, efficient and effective manner; the ability of Hemisphere to obtain financing on acceptable terms; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of pipeline, storage and facility construction and expansion and the ability of Hemisphere to secure adequate product transportation; future commodity prices; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Hemisphere operates; and the ability of Hemisphere to successfully market its oil and natural gas products.

The forward‐looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results or events to defer materially from those anticipated in such forward‐looking statements including, without limitation: changes in project timelines and workstreams; changes in commodity prices; changes in the demand for or supply of Hemisphere’s products, the early stage of development of some of the evaluated areas and zones; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans of Hemisphere or by third party operators of Hemisphere’s properties, increased debt levels or debt service requirements; inaccurate estimation of Hemisphere’s oil and gas reserve volumes; limited, unfavourable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time‐to‐time in Hemisphere’s public disclosure documents, (including, without limitation, those risks identified in this news release and in Hemisphere’s Annual Information Form).

The forward‐looking statements contained in this news release speak only as of the date of this news release, and Hemisphere does not assume any obligation to publicly update or revise any of the included forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

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

info

SOURCE: Hemisphere Energy Corporation