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Release – electroCore – Data Presented at 2022 International Stroke Congress

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Data Presented at 2022 International Stroke Congress Suggests Role for Non-invasive Vagus Nerve Stimulation (nVNS) for Treatment of Acute Stroke

News and Market Data on electroCore

 

Clinical Trial (n=69) suggests safety and feasibility of nVNS for the acute treatment of stroke.

Relative Ischemic Lesion Growth Decreased by 65.9% with nVNS vs. Sham Treatment.

ROCKAWAY, N.J., 
Feb. 09, 2022 (GLOBE NEWSWIRE) — 
electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, today announced top line data from three abstracts being presented at the American Heart Associations’ 2022 
International Stroke Conference (
February 9-11, 2022, 
New Orleans) on the possible role of nVNS in the acute treatment of stroke.

The nVNS research presented at the 
International Stroke Conference 2022 includes:

Non-invasive Vagus Nerve Stimulation for The Acute Treatment of Ischemic or Hemorrhagic Stroke (TR-VENUS)

In this randomized, sham controlled, multi-center study conducted at nine academic centers in 
Turkey, the intent-to-treat (ITT) population included 69 subjects (61 ischemic stroke and eight intracerebral hemorrhage) distributed into three treatment arms: sham (n=25), standard-dose nVNS (7 stimulations over one hour; n=19), and high-dose nVNS (7 stimulations in hour 1 and hour 5; n=25). Every subject in the ITT population received all prespecified treatment stimulations per protocol and 97% of all randomized subjects in the study received their first stimulation less than 6 hours from stroke onset. The study met its primary objective with the composite primary safety endpoint being consistent across the three treatment arms indicating that nVNS was able to be administered safely in this acute stroke population. The study also met all secondary safety and feasibility endpoints. Relative infarct growth, measured by diffusion weighted imaging, in the high dose nVNS group (63.3%) was lower than in the sham group (185.8%; p=0.05) against baseline. Dr. Murat Arasava, one of the primary investigators of the TR-VENUS study and Professor of Neurology at the 
Hacettepe University in 
Ankara, Turkey commented, “We are pleased to have successfully completed this first trial of nVNS as a possible treatment for acute stroke and believe our data suggests that nVNS may be safe and feasible in both ischemic and hemorrhagic stroke. The efficacy signal suggested by the reduction in relative infarct growth rate in the ischemic population, which needs to be confirmed in larger studies, clearly provides the basis for additional research to further define the role for nVNS for the acute treatment of stroke.”

Non-invasive Vagus Nerve Stimulation in Acute Ischemic Stroke (NOVIS)

NOVIS is a prospective randomized clinical trial with blinded outcome assessment being conducted at the 
Leiden University Medical Center (Leiden, 
The Netherlands). 150 patients with ischemic stroke are being randomly allocated (1:1) to nVNS for five days in addition to standard treatment versus standard treatment alone. The primary endpoint is the final infarct volume on day five assessed with MRI. This study features a greater number of stimulations over five days than TR-VENUS, and advanced imaging endpoints including measurement of the penumbra, that should provide additional insight and clarity surrounding the role of nVNS for the acute treatment of ischemic stroke. Dr.  Anne van der Meij, from the 
Leiden University Medical Center, is presenting the poster at the 
International Stroke Conference and commented, “Our study is now more than 50% enrolled and our efficacy endpoints may provide greater definition, and possibly confirmation, of the efficacy of nVNS for the acute treatment of ischemic stroke.”

Effect Of Non-invasive Vagus Nerve Stimulation in Hemorrhagic Brain Injury and Permanent Ischemic Stroke in Rats

Dr.  Ilknur Ay of the 
Massachusetts General Hospital and 
Harvard Medical School presented the results of a pre-clinical study conducted in her lab at the 
Athinoula A. Martinos Center for Biomedical Imaging that supports prior evidence that nVNS may have therapeutic potential in ischemic stroke. The lack of adverse events in two different validated models of Intracerebral Hemorrhage in rats shown in this study suggests that nVNS could be safely administered as early as an ambulatory setting before the stroke etiology (ischemic vs. hemorrhagic) has been determined.

Stroke is ranked as the second leading cause of death worldwide with an annual mortality rate of about 5.5 million. The burden of stroke lies not only in its high mortality rate, but in the high morbidity rate as well with up to 50% of stroke survivors being chronically disabled. Stroke is a disease of immense public health importance with serious economic and social consequences. The public health burden of stroke is set to rise over future decades because of demographic transitions of populations across the world. According to the 
American Heart Association by 2030, 3.88% of the US population >18 years of age is projected to have had a stroke. Between 2012 and 2030, real (2010$) total direct annual stroke-related medical costs are expected to increase from 
$71.55 billion to 
$184.13 billion. Real indirect annual costs (attributable to lost productivity) are projected to rise from 
$33.65 billion to 
$56.54 billion over the same period. Overall, total annual costs of stroke are projected to increase to 
$240.67 billion by 2030, an increase of 129%.

Eric Liebler, Senior Vice President of Neurology for electroCore, commented, “We congratulate all of the investigators, patients and sites that have first in human study suggesting a role for nVNS in treatment of acute stroke. If effective, nVNS would represent a breakthrough treatment that could be safely deployed much earlier, more safely and more easily than current stroke treatments. As time to treatment is considered one of the most critical factors in the acute treatment of stroke, the ability to treat as early as in an ambulatory setting, before the type of stroke (ischemic or hemorrhagic) is confirmed by imaging, would represent a significant advance in the treatment of stroke. We look forward to the anticipated full publication of the TR-VENUS study in a peer reviewed journal later this year and the completion of the NOVIS study in 2023.”

About electroCore, Inc.
electroCore, Inc. is a commercial stage bioelectronic medicine company dedicated to improving patient outcomes through its non-invasive vagus nerve stimulation therapy platform, initially focused on the treatment of multiple conditions in neurology. The company’s current indications are the preventive treatment of cluster headache and migraine, the acute treatment of migraine and episodic cluster headache, the acute and preventive treatment of migraines in adolescents, and paroxysmal hemicrania and hemicrania continua in adults.

For more information, visit www.electrocore.com.

About gammaCore™
gammaCore™ (nVNS) is the first non-invasive, hand-held medical therapy applied at the neck as an adjunctive therapy to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve that passes through the skin. Designed as a portable, easy-to-use technology, gammaCore can be self-administered by patients, as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers, which may lead to a reduction of pain in patients.

gammaCore (nVNS) is FDA cleared in the United States for adjunctive use for the preventive treatment of cluster headache in adult patients, the acute treatment of pain associated with episodic cluster headache in adult patients, and the acute and preventive treatment of migraine in adolescent (ages 12 and older) and adult patients, and paroxysmal hemicrania and hemicrania continua in adult patients. gammaCore is CE-marked in the European Union for the acute and/or prophylactic treatment of primary headache (Migraine, Cluster Headache, Trigeminal Autonomic Cephalalgias and Hemicrania Continua) and Medication Overuse Headache in adults.

gammaCore is contraindicated for patients if they:

  • Have an active implantable medical device, such as a pacemaker, hearing aid implant, or any implanted electronic device
  • Have a metallic device, such as a stent, bone plate, or bone screw, implanted at or near the neck
  • Are using another device at the same time (e.g., TENS Unit, muscle stimulator) or any portable electronic device (e.g., mobile phone)

Safety and efficacy of gammaCore have not been evaluated in the following patients:

  • Adolescent patients with congenital cardiac issues
  • Patients diagnosed with narrowing of the arteries (carotid atherosclerosis)
  • Patients who have had surgery to cut the vagus nerve in the neck (cervical vagotomy)
  • Pediatric patients (less than 12 years)
  • Pregnant women
  • Patients with clinically significant hypertension, hypotension, bradycardia, or tachycardia

For more information, please visit gammaCore.com

Forward-Looking Statements
This press release and other written and oral statements made by representatives of electroCore may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about electroCore’s business prospects and clinical and product development plans (including with respect to enrollment in ongoing studies); its pipeline or potential markets for its technologies; the timing, outcome and impact of regulatory, clinical and commercial developments; the issuance of 
U.S. and international patents providing expanded IP coverage; the possibility of future business models and revenue streams from the company’s potential use of nVNS for the acute treatment of stroke and hemorrhagic brain injury, the potential of nVNS generally and gammaCore in particular and other statements that are not historical in nature, particularly those that utilize terminology such as “anticipates,” “will,” “expects,” “believes,” “intends,” other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize gammaCore™, the potential impact and effects of COVID-19 on the business of electroCore, electroCore’s results of operations and financial performance, and any measures electroCore has and may take in response to COVID-19 and any expectations electroCore may have with respect thereto, competition in the industry in which electroCore operates and overall market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the 
SEC available at www.sec.gov.

Investors:
Rich Cockrell

CG Capital
404-736-3838
ecor@cg.capital

or

Media Contact:
Jackie Dorsky
electroCore
908-313-6331
jackie.dorsky@electrocore.com

Project Hamilton CBDC Findings Released by Fed

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  Image Credit: Natasha Chabanoo (Pexels)


Phase I Research Findings on a US Central Bank Digital Currency Released by Federal Reserve

 

The Federal Reserve Bank of Boston and the Digital Currency Initiative at the Massachusetts Institute of Technology have released the findings of their initial technological research into a central bank digital currency, or CBDC. The published research describes a theoretical high-performance and resilient transaction processor for a CBDC that was developed using open-source research software, OpenCBDC. This collaborative effort, known as Project Hamilton, focuses on technological experimentation and does not aim to create a usable CBDC for the United States. The research is separate from the Federal Reserve’s Board’s evaluation of the pros and cons of a CBDC.

“It is critical to understand how emerging technologies could support a CBDC and what challenges remain,” said Boston Fed Executive Vice President and Interim Chief Operating Officer Jim Cunha. “This collaboration between MIT and our technologists has created a scalable CBDC research model that allows us to learn more about these technologies and the choices that should be considered when designing a CBDC.”

The whitepaper released today details findings from the first research phase. In this phase, researchers selected concepts from cryptography, distributed systems, and blockchain technology to build and test platforms that would give policymakers substantial flexibility in the potential creation of a CBDC. The paper describes the following findings:

  • The team met its goal of creating a core processing engine for a hypothetical general purpose CBDC and explored it in two architectures.
  • The work produced one code base capable of handling 1.7 million transactions per second.
  • The vast majority of transactions reached settlement finality in under two seconds within architectures that support secure, resilient performance and offer the significant technological flexibility required to adjust to future policy direction.

Researchers with MIT and the Boston Fed released the code for Project Hamilton, OpenCBDC, in github for contributions.

“There are still many remaining challenges in determining whether or how to adopt a central bank payment system for the United States,” said Neha Narula, director of the Digital Currency Initiative at MIT. “What is clear is that open-source software provides an important way to collaborate, experiment, and implement. In addition to supporting collaboration, monetary systems benefit from transparency and verifiability, which open-source offers.”

About Project Hamilton

Project Hamilton is a multi-year collaboration between the Boston Fed and MIT’s Digital Currency Initiative that was announced in 2020. The project explores the use of existing and new technologies to build and test a hypothetical digital currency platform. The project’s first phase produced the research and code released today for a high-performance transaction processor. The code is the first contribution to OpenCBDC, a project maintained by MIT which will serve as a platform for further CBDC research. Project Hamilton aims to inform future contributions to the code and inform policy discussions about CBDC.

In the coming years, the second phase of this partnership will allow Project Hamilton to explore alternative technical designs to improve the already robust privacy, resiliency, and functionality of the technology outlined in the first phase.

The Federal Reserve Bank of Boston serves the First Federal Reserve District, which includes all of New England except Fairfield County, Connecticut. Within the district, the Bank monitors local economic conditions to aid in the formulation of monetary policy; engages in outreach to promote economic growth, community revitalization, and economic and financial education; supervises banks and bank holding companies; and provides financial services to facilitate banking operations.

 

The above report was released by the Federal Reserve Bank of Boston on February 3, 2022 under the title: “The
Federal Reserve Bank of Boston and Massachusetts Institute of Technology
release technological research on a central bank digital currency”.  All links throughout the report are provided by the authors.

 

Suggested Reading



Cryptocurrencies in 2022, a View from Academics

Blockchain 2022 – What’s Next?





Has Bitcoin Lived Up to the Original Vision

How Close is the U.S. to Having a Digital Currency?

Source

https://www.bostonfed.org/news-and-events/press-releases/2022/frbb-and-mit-open-cbdc-phase-one.aspx

 

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Release – Schwazze Adds President of New Mexico Division Appoints Key Leaders from Former R. Greenleaf Ownership Group

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Schwazze Adds President of New Mexico Division Appoints Key Leaders from Former R. Greenleaf Ownership Group

Research, News, and Market Data on Schwazze

 

DENVER, Feb. 9, 2022 /CNW/ – Super-regional, cannabis growth operator Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”) announces the appointment of three key leaders to support the company’s significant expansion in its New Mexico operations.

Steve Pear joins Schwazze as its New Mexico Division President. He comes from Vancouver-based Happy Gut Brands, Inc, where he recently served as CEO. Pear is a graduate of the University of Georgia, spending a significant portion of his career in the Southeast and Midwest working for Coca-Cola Enterprises before moving into national sales roles working for formidable beverage companies. At Coors and Miller-Coors, he served as Vice President, National Sales and later, moved onto Odwalla where he eventually became President, General Manager after working in both sales and operations. Following his time at Odwalla, Pear served as CEO for Cheribundi for over five years building a high-performance culture overseeing: sales, operations, marketing, supply chain, manufacturing, finance and human resources.

Two additional key leaders – Alex Falter-Hahn and Jacob White – have joined Schwazze’s New Mexico operating team, transitioning from R. Greenleaf and Associates, LLC (“RGA”). 

Falter-Hahn joins Schwazze as Vice President, Operational Excellence.  She is a proud New Mexican who has spent the last eight years working as the Chief Financial Officer of RGA.  She has overseen financial development, human resources, compliance, and operations.  Falter-Hahn is a graduate of the University of New Mexico’s Anderson School of Management and has spent her career working for various accounting firms, while focusing on local business development. 

White joins Schwazze as Vice President Cultivation and Product Development.  He has called New Mexico home for the last 12 years while working in the New Mexican medical cannabis industry. White started his career in cannabis in 2009 on the retail side where he opened Albuquerque’s first medical dispensary. In 2011, Jacob joined R. Greenleaf Organics focusing on cultivation, setting the standard for quality cannabis flower and obtaining the highest quarterly yields in the state.

“These three key additions to our New Mexico senior leadership team are critical to our expansion across Colorado borders.  Pear, Falter-Hahn and White bring cross functional leadership to our New Mexico operations, and we are fortunate to have them on our team,” said Nirup Krishnamurthy, Chief Operating Officer of Schwazze. “We are excited to be part of New Mexico’s transition to the cannabis recreational market and to leverage our deep experience in the Colorado market to bring the best variety of quality products with great service to our customers in New Mexico.“

“I’m extremely excited to be joining Schwazze and leading the division in New Mexico.  We have a solid foundation that we look to build upon in preparation for the adult use launch on April 1, 2022,” said Steve Pear, President of Schwazze’s New Mexico division.

R. Greenleaf is a licensed medical cannabis provider with ten dispensaries, four cultivation facilities – three operating and one in development – and one manufacturing location.  The dispensaries are located in Albuquerque, Santa Fe, Roswell, Las Cruces, Grants and Las Vegas, New Mexico. Greenleaf’s approximately 70,000 square feet of cultivation as well as 6,000 square feet of manufacturing space are located in Albuquerque.  The State of New Mexico currently allows medical cannabis and has approved adult use recreational cannabis sales which by law begin no later than April 2022.  The New Mexico market is expected to grow approximately 300% in the next 5 years. (1)

(1)

BDSA estimate

About Schwazze
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position.  Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.  The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition.  Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes.  The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.  Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.  Medicine Man Technologies, Inc. was Schwazze’s former operating trade name.  The corporate entity continues to be named Medicine Man Technologies, Inc.

Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

SOURCE Schwazze

Beasley Broadcast Group (BBGI) – Solid Quarter Favorable Revenue Momentum

Posted on by Admin

Wednesday, February 09, 2022

Beasley Broadcast Group (BBGI)
Solid Quarter; Favorable Revenue Momentum

Beasley Broadcast Group Inc is a radio broadcasting company, engaged in operating radio stations throughout the United States. It operates radio stations including FM and AM radio stations located in large and mid-sized markets in the United States. The company owns and operates radio stations in the following radio markets: Atlanta, GA, Augusta, GA, Boston, MA, Charlotte, NC, Detroit, MI, Fayetteville, NC, Fort Myers-Naples, FL, Las Vegas, NV, Middlesex, NJ, Monmouth, NJ, Morristown, NJ, Philadelphia, PA, Tampa-Saint Petersburg, FL, West Palm Beach-Boca Raton, FL, and Wilmington, DE. It is also a multi-platform, marketing solutions provider that offers on-air, online, and mobile and social media applications. The main source of revenue is the sale of advertising.

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

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

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

    Finishing strong. Fourth quarter 2021 revenues of $70.7 million was 2% above our forecast of $69.3 million. The revenues were better than the company’s guidance and reflected strong local spot revenue, up 14.4%, and national, up 9.2%, excluding Political. Digital revenues were up a strong 47%, accounting for 15% of total revenues, up from 13% in Q3. Adj. EBITDA of $9.4 million for the quarter beat our estimate of $8.7 million.

    Nearly recovered.  Q4 revenue was less than 2% below 2019 revenue, representing a nearly full recovery to pre-pandemic levels. One of the key factors that have helped drive revenue recovery has been the emergence of the sports betting advertising category ($4.3 million in the quarter) …



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. 

FDA May Rethink Approving Drugs Tested in China

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  Phil & Pam Gladwell (Flickr)


FDA Oncology Director Expresses Concerns Over Applicability of Chinese Data

 

The Food and Drug Administration (FDA) will soon begin reviewing two dozen applications for cancer drugs. The trial data is based, in many cases, entirely on tests from mainland China. The U.S. regulator has begun expressing concerns about the quality of studies conducted in China and whether the results should even apply to patients in the U.S.

 

Background

Eli Lilly (LLY) has applied for a license to roll out a lung-cancer immunotherapy developed in China and sell it at a lower price than similar drugs now in the U.S. The application is for a drug called Sintilab, which is a PD-1 monoclonal antibody checkpoint inhibitor for non-small cell lung cancer. The FDA has concerns over the validity of test results. This could threaten the plan to bring the treatment to market later this year. How the FDA concerns translate into actions will become clearer after February 10th when they begin reviewing the data from Lilly’s Chinese partner, Innovent Biologics Inc. Lilly’s application is just the first of many applications to be considered by the agency, the decision is expected by late March.

The shift in thinking could stall or threaten applications from many large drugmakers, including Eli Lilly and Novartis, who stand to gain billions of dollars in sales from being the conduit for these medicines. It could also heighten trade tensions between the two countries.

 

“The elephant in the room is obviously, what is the quality of the data that is coming from these foreign countries?” Dr. Richard Pazdur, FDA

 

FDA Considerations

Richard Pazdur, director of the FDA’s Oncology Center of Excellence, has been quoted in academic and medical literature about his new concerns regarding “me-too” drugs coming from China and the fundamental challenges they pose to the agency’s drug approval criteria. This includes whether results, provided primarily from test subjects in China, are applicable to Americans, and the validity of the data. Pazdur has said, “We have nothing against drugs being developed in China. Our issue is, are those results generalizable to the U.S. population?”

Clinical trials, especially extensive, late-stage studies that regulators review to decide whether to approve a new drug, are among the highest research and development expenses. Industry executives are watching to see if the newer mindset leads to delays or outright FDA rejections of increased efforts to bring a pipeline of treatments to American patients from abroad. Perhaps measures and additional assessments of benefits and safety profiles on different populations will be needed in the future. Dr. Pazdur has expressed when drugs are tested only or primarily in one country such as China, it is difficult to assess whether the drug would have the same benefits and safety profile in the U.S. population. Dr. Pazdur also said he was concerned the Chinese studies used outdated study designs, which don’t directly establish whether the China-developed drug works, as well as similar drugs, approved in the U.S.

There are also concerns that go beyond the applicability of the data. Dr. Pazdur has also shown concern about the integrity of data generated by drug studies in China. According to the British Medical Journal, an analysis by Chinese regulators in 2016 found that about 80% of domestic drug applications reviewed at that time, contained fabricated, flawed, or insufficient data in the studies – in some cases, there were discrepancies between original study data and what was submitted to regulators.

 

Take-Away

A growing trend of large drugmakers partnering with testing labs in China as part of an application for U.S. FDA approval may be faced with an FDA, that had once been friendly to the idea, but now has openly changed its tone. The new thinking seems to be, that there may be differences in medical care and populations that affect how a drug performs.

This could impact two dozen applications before the FDA. A final agency decision on whether to clear the Lilly/Innovent treatment is expected by the end of March.

Paul Hoffman

Managing Editor, Channelchek

 

Suggested Reading



Understanding the FDA Medical Device Approval Pathways Helps Investors

Immunotherapy to Treat Cancer May Involve Placing Cancer Cells in the Body





Therapeutic Research Advanced by Stem Cell Science

Imugene (IUGNF) – Three Innovative Platforms That Could Change Cancer Treatment

 

Source

https://www.fda.gov/media/156021/download

https://www.statnews.com/2022/02/04/fda-richard-pazdur-cancer-drug-eli-lilly-china/

https://endpts.com/appearing-to-walk-back-fdas-openness-to-foreign-trials-pazdur-suggests-eli-lillys-pd-1-will-face-tough-road-ahead/

https://cancerletter.com/conversation-with-the-cancer-letter/20220204_1/

https://www.wsj.com/articles/fda-raises-concerns-about-china-developed-drugs-11644408180?mod=Searchresults_pos1&page=1

https://www.nejm.org/doi/full/10.1056/NEJMp2116863

 

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Kratos Defense Security (KTOS) – Business Continues To Come In

Posted on by Admin

Wednesday, February 09, 2022

Kratos Defense & Security (KTOS)
Business Continues To Come In

Kratos Defense & Security Solutions is a National Security technology provider with proprietary expertise in the area of unmanned aerial vehicles, electronics for missile defense systems, electronic warfare systems, satellite control and management systems and support services for emerging naval weapon systems. Commercial and state and local government revenues are about 25% of the total and comprise primarily of critical infrastructure monitoring and protection systems.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

    $50 Million Award. Yesterday, Kratos announced the receipt of an approximately $50 million contract value increase from a National Security customer for an existing C5ISR program. Kratos supplies the customer with specialized products, hardware, engineering and other services and deliverables.

    And $15 Million for Drone Support.  Kratos also received approximately $15 million in contract awards for logistics support, spares, consumables, and support needed for the growing demand for Kratos’ customer drone system operations. The awards are a reflection of the pent-up demand for increased operational missions, which should bode well for Kratos …



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. 

Cocrystal Pharma Inc. (COCP) – Drugs For COVID-19 Advance As The Pandemic Won’t Go Away

Posted on by Admin

Tuesday, February 08, 2022

Cocrystal Pharma Inc. (COCP)
Drugs For COVID-19 Advance As The Pandemic Won’t Go Away

Cocrystal Pharma Inc is a clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of influenza viruses, hepatitis C viruses, and noroviruses. The company employs structure-based technologies and Nobel Prize-winning expertise to create first-and best-in-class antiviral drugs. It is developing CC-31244, an investigational, oral, broad-spectrum replication inhibitor called a non-nucleoside inhibitor (NNI). CC-31244 is currently being evaluated in a Phase 2a study for the treatment of hepatitis C as part of a cocktail for ultra-short therapy of 4 to 6 weeks.

Robert LeBoyer, Senior Research Analyst, Noble Capital Markets, Inc.

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

    Cocrystal Makes Progress Against SARS-CoV-2.  In November 2021, the SARS-CoV-2 Omicron variant was identified as a new, highly contagious strain. Although less virulent than other strains, its genetic variations allowed it to evade immune protection from current vaccines. Since then, variants have been identified with genetic sequences showing emergence after the Omicron strain. We believe this highlights the need for new drugs with different mechanisms of action and long-term efficacy.

    Cocrystal Has Developed Drugs That Block Viral Reproduction.  Cocrystal has been developing drugs that block the RNA protease enzyme needed for viral replication. These are highly conserved proteins that do not vary between strains and can be effective against new variants. This contrasts with the current COVID-19 vaccines that stimulate an immune response against a viral surface marker which can …



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. 

Eagle Bulk Shipping (EGLE) – Good Start in January and 1Q2022 Looks On Track

Posted on by Admin

Tuesday, February 08, 2022

Eagle Bulk Shipping (EGLE)
Good Start in January and 1Q2022 Looks On Track

Eagle Bulk Shipping Inc. 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.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

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

    Chief Strategy Officer market observations. Last week, EGLE’s CSO highlighted the balanced dry bulk market one month into the new year. While down 23% versus December, the Baltic Supramax Index (BSI) average of ~$20k/day in January is a solid data point compared to the past. January is typically a weak month, and seven out of the last ten years the BSI ended the year higher than where it started. While a pickup in volatility was noted, the forward FFA curve is close to ~$22.5k/day, which suggests a well-balanced dry bulk market.

    Favorable Dry Bulk Outlook Intact, Albeit with Volatility.  While overall TCE rates dropped recently due to weather disruptions and seasonality and the forward cover is low, our outlook remains favorable. Volatility is likely to continue, and seasonality should be expected. At the same time, the order book remains muted, and the January 1, 2023 implementation of new carbon emission regulations …



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. 

Schwazze Closes New Mexico Acquisition

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Schwazze Closes New Mexico Acquisition

Research, News, and Market Data on Schwazze

 

Achieves Regional Operator Status with Acquisition of: Reynold Greenleaf & Associates, R. Greenleaf Organics, Medzen Services, Elemental Kitchen & Laboratories 

DENVER, Feb. 8, 2022 /CNW/ – Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”), one of the largest vertically integrated cannabis operators in Colorado, is pleased to announced that it has closed the transaction to acquire substantially all the operating assets of Reynold Greenleaf & Associates, LLC, and the equity of Elemental Kitchen & Laboratories, LLC. As part of the transaction, the Company will also have a right to purchase or acquire cannabis licenses held by Medzen Services, Inc., (“Medzen”) and R. Greenleaf Organics, Inc. (“RGO”), not-for-profit organizations that hold medical cannabis licenses in New Mexico (the assets and licenses described herein are referenced collectively as “Greenleaf”).

Total consideration for the acquisition was $42 million (subject to potential working capital adjustments) with a potential performance based earnout. The consideration consists of $25 million in cash paid at closing and $17 million in a 3-year seller note at 5% interest.

Greenleaf is a licensed medical cannabis provider with ten dispensaries, four cultivation facilities – three operating and one in development – and one manufacturing location. The dispensaries are located in Albuquerque, Santa Fe, Roswell, Las Cruces, Grants and Las Vegas, New Mexico.  Greenleaf’s approximately 70,000 square feet of cultivation as well as 6,000 square feet of manufacturing space are located in Albuquerque.  The State of New Mexico currently allows medical cannabis and has approved adult use recreational cannabis sales which by law begin no later than April 2022.  The New Mexico market is expected to grow approximately 300% in the next 5 years. (1)

With this acquisition, Schwazze is now a multi-state operator (“MSO”) with a total of 32 announced and acquired dispensaries, seven cultivation facilities and two manufacturing operations located in either Colorado or New Mexico. (see Figure #1)

“With our regional expansion into New Mexico now complete, we have firmly graduated to the MSO category but with a differentiated regional focus which we and our stakeholders believe will be successful as we continue to position the Company for rapid expansion as the market opens for adult use consumption.  We welcome the Greenleaf team to Schwazze, particularly Willie Ford who joins us in an advisory capacity, and are excited about our future together,” stated Justin Dye, CEO & Chairman.

Willie Ford, Managing Director and Founder of Greenleaf added; “We are very excited to work with Schwazze given the depth of the team, their strong experience in retail and cannabis and their commitment to regional growth.  This will be critical for us as New Mexico makes the move into legalization of cannabis for recreational use in April of this year.“

Figure #1 (CNW Group/Schwazze)

About Schwazze
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position.  Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.  The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition.  Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes.  The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.  Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.  Medicine Man Technologies, Inc. was Schwazze’s former operating trade name.  The corporate entity continues to be named Medicine Man Technologies, Inc.

Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

SOURCE Schwazze

Bowlero Corp. Announces $200 Million Share And Warrant Repurchase Program

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Bowlero Corp. Announces $200 Million Share And Warrant Repurchase Program

Research, News, and Market Data on Bowlero

 

RICHMOND, Va., Feb. 07, 2022 (GLOBE NEWSWIRE) — Bowlero Corp. (NYSE: BOWL) (“Bowlero” or the “Company”), the world’s largest owner and operator of bowling centers, today announced that its board of directors has approved a repurchase program for up to $200 million of its outstanding shares of Class A common stock and warrants through February 3, 2024. Bowlero plans to repurchase its shares or warrants either in the open market or through privately negotiated transactions.

“The authorization to buy back up to $200 million of its shares of Class A common stock and warrants provides the Company with another mechanism to maximize long-term value for our shareholders,” said Tom Shannon, Bowlero Corp’s Chairman and CEO. “We remain confident in our strategy and believe that our current stock price represents a significant discount to the intrinsic value of the Company. We plan to continue to invest in the acquisition, building and converting of bowling centers, and the repurchase program announced today provides us with additional flexibility to create long-term value for investors. We remain committed to a disciplined capital allocation strategy, including investments in our strategic priorities and return of capital to our shareholders.”

Share and warrant repurchases and the timing thereof will depend upon market conditions, corporate liquidity requirements and priorities, debt agreement limitations and other factors as may be considered in the Company’s sole discretion. The share repurchase program does not obligate the Company to repurchase any particular amount of Class A common stock or warrants and may be suspended or discontinued at any time without notice.

About Bowlero Corp.
Bowlero Corp. is the worldwide leader in bowling entertainment. With more than 300 bowling centers across North America, Bowlero Corp. serves more than 26 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. Bowlero Corp. is also home to the Professional Bowlers Association, which it acquired in 2019 and which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com.

Forward Looking Statements

Some of the statements contained in this press release are 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. These forward-looking statements are generally identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and, in each case, their negative or other various or comparable terminology. These forward-looking statements reflect our views with respect to future events as of the date of this release and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to: the impact of COVID-19 or other adverse public health developments on our business; our ability to grow and manage growth profitably, maintain relationships with customers, compete within our industry and retain our key employees; changes in consumer preferences and buying patterns; the possibility that we may be adversely affected by other economic, business, and/or competitive factors; the risk that the market for our entertainment offerings may not develop on the timeframe or in the manner that we currently anticipate; general economic conditions and uncertainties affecting markets in which we operate and economic volatility that could adversely impact our business, including the COVID-19 pandemic and other factors described under the section titled “Risk Factors” in the registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “SEC”) by the Company, as well as other filings that the Company will make, or has made, with the SEC, such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

Contacts:

For Media:
Jillian Laufer
JLaufer@BowleroCorp.com

For Investors:
ICR, Inc.
Ryan Lawrence
Ryan.Lawrence@icrinc.com

Ashley DeSimone
Ashley.desimone@icrinc.com 

Source: Bowlero Corp

Release – Schwazze Closes New Mexico Acquisition

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Schwazze Closes New Mexico Acquisition

Research, News, and Market Data on Schwazze

 

Achieves Regional Operator Status with Acquisition of: Reynold Greenleaf & Associates, R. Greenleaf Organics, Medzen Services, Elemental Kitchen & Laboratories 

DENVER, Feb. 8, 2022 /CNW/ – Schwazze, (OTCQX: SHWZ) (“Schwazze” or the “Company”), one of the largest vertically integrated cannabis operators in Colorado, is pleased to announced that it has closed the transaction to acquire substantially all the operating assets of Reynold Greenleaf & Associates, LLC, and the equity of Elemental Kitchen & Laboratories, LLC. As part of the transaction, the Company will also have a right to purchase or acquire cannabis licenses held by Medzen Services, Inc., (“Medzen”) and R. Greenleaf Organics, Inc. (“RGO”), not-for-profit organizations that hold medical cannabis licenses in New Mexico (the assets and licenses described herein are referenced collectively as “Greenleaf”).

Total consideration for the acquisition was $42 million (subject to potential working capital adjustments) with a potential performance based earnout. The consideration consists of $25 million in cash paid at closing and $17 million in a 3-year seller note at 5% interest.

Greenleaf is a licensed medical cannabis provider with ten dispensaries, four cultivation facilities – three operating and one in development – and one manufacturing location. The dispensaries are located in Albuquerque, Santa Fe, Roswell, Las Cruces, Grants and Las Vegas, New Mexico.  Greenleaf’s approximately 70,000 square feet of cultivation as well as 6,000 square feet of manufacturing space are located in Albuquerque.  The State of New Mexico currently allows medical cannabis and has approved adult use recreational cannabis sales which by law begin no later than April 2022.  The New Mexico market is expected to grow approximately 300% in the next 5 years. (1)

With this acquisition, Schwazze is now a multi-state operator (“MSO”) with a total of 32 announced and acquired dispensaries, seven cultivation facilities and two manufacturing operations located in either Colorado or New Mexico. (see Figure #1)

“With our regional expansion into New Mexico now complete, we have firmly graduated to the MSO category but with a differentiated regional focus which we and our stakeholders believe will be successful as we continue to position the Company for rapid expansion as the market opens for adult use consumption.  We welcome the Greenleaf team to Schwazze, particularly Willie Ford who joins us in an advisory capacity, and are excited about our future together,” stated Justin Dye, CEO & Chairman.

Willie Ford, Managing Director and Founder of Greenleaf added; “We are very excited to work with Schwazze given the depth of the team, their strong experience in retail and cannabis and their commitment to regional growth.  This will be critical for us as New Mexico makes the move into legalization of cannabis for recreational use in April of this year.“

Figure #1 (CNW Group/Schwazze)

About Schwazze
Schwazze (OTCQX: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position.  Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale.  The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition.  Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes.  The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector.  Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.  Medicine Man Technologies, Inc. was Schwazze’s former operating trade name.  The corporate entity continues to be named Medicine Man Technologies, Inc.

Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,”, “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws, and * out ability to satisfy the closing conditions for the private finding described in this press release. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

SOURCE Schwazze

Release – Allegiant Announces Amendment Of Bolo Option Agreement

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Allegiant Announces Amendment Of Bolo Option Agreement

Research, News, and Market Data on Allegiant Gold

 

Reno, Nevada /February 8, 2022 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the continuation of the option agreement at its 100%-owned Bolo Project with New Placer Dome Gold Corp (“New Placer Dome”).

New Placer Dome can earn an initial 50.01% interest in Bolo by making share payments to Allegiant totaling US$1 million and completing US$4 million in exploration expenditures. New Placer Dome made a share payment of US$250,000 in December 2021 to complete the aggregate US$1 million share payment required under the agreement. Furthermore, New Placer Dome had commenced drilling and an IP/resistivity geophysical survey in 2021 but was unable to fulfill the entire exploration expenditure requirements for the year. The parties agreed to amend the Bolo option agreement leading to an additional US$400,000 payment to Allegiant through a combination of US$250,000 in cash and US$150,000 in shares of New Placer Dome. New Placer Dome will have to spend US$1.5 million in the calendar year of 2022 in order to meet the remaining exploration expenditure requirement to earn into an initial 50.01% interest.

Peter Gianulis, CEO of Allegiant Gold, commented: “We are very pleased to have successfully resolved and amended the Bolo Option Agreement with New Placer Dome. This new amendment will allow for an aggressive drilling program at Bolo by New Placer Dome thereby advancing the project even further. Equally important, the amendment provided Allegiant with US$650,000 in share and cash payments in the month of December validating our business model of funding the Company with our option agreements while we continue to advance and develop Eastside, our flagship gold project near the town of Tonopah, NV.”

ABOUT ALLEGIANT

Allegiant owns 100% of 10 highly-prospective gold projects in the United States, seven of which are located in the mining-friendly jurisdiction of Nevada. Four of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

ON BEHALF OF THE BOARD

Peter Gianulis
CEO

For more information contact:

Investor Relations
(604) 634-0970 or
1-888-818-1364
ir@allegiantgold.com

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

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements.Allegiant Gold Ltd.’s (“Allegiant”) exploration plans for its gold exploration properties, the drill program at Allegiant’s Eastside project, the preparation and publication of an updated resource estimate in respect of the Original Zone at the Eastside project, Allegiant’s future exploration and development plans, including anticipated costs and timing thereof; Allegiant’s plans for growth through exploration activities, acquisitions or otherwise; and expectations regarding future maintenance and capital expenditures, and working capital requirements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in Allegiant’s Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR under Allegiant’s profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. Allegiant undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Release – Bowlero Corp Announces $200 Million Share And Warrant Repurchase Program

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Bowlero Corp. Announces $200 Million Share And Warrant Repurchase Program

Research, News, and Market Data on Bowlero

 

RICHMOND, Va., Feb. 07, 2022 (GLOBE NEWSWIRE) — Bowlero Corp. (NYSE: BOWL) (“Bowlero” or the “Company”), the world’s largest owner and operator of bowling centers, today announced that its board of directors has approved a repurchase program for up to $200 million of its outstanding shares of Class A common stock and warrants through February 3, 2024. Bowlero plans to repurchase its shares or warrants either in the open market or through privately negotiated transactions.

“The authorization to buy back up to $200 million of its shares of Class A common stock and warrants provides the Company with another mechanism to maximize long-term value for our shareholders,” said Tom Shannon, Bowlero Corp’s Chairman and CEO. “We remain confident in our strategy and believe that our current stock price represents a significant discount to the intrinsic value of the Company. We plan to continue to invest in the acquisition, building and converting of bowling centers, and the repurchase program announced today provides us with additional flexibility to create long-term value for investors. We remain committed to a disciplined capital allocation strategy, including investments in our strategic priorities and return of capital to our shareholders.”

Share and warrant repurchases and the timing thereof will depend upon market conditions, corporate liquidity requirements and priorities, debt agreement limitations and other factors as may be considered in the Company’s sole discretion. The share repurchase program does not obligate the Company to repurchase any particular amount of Class A common stock or warrants and may be suspended or discontinued at any time without notice.

About Bowlero Corp.
Bowlero Corp. is the worldwide leader in bowling entertainment. With more than 300 bowling centers across North America, Bowlero Corp. serves more than 26 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. Bowlero Corp. is also home to the Professional Bowlers Association, which it acquired in 2019 and which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com.

Forward Looking Statements

Some of the statements contained in this press release are 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. These forward-looking statements are generally identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and, in each case, their negative or other various or comparable terminology. These forward-looking statements reflect our views with respect to future events as of the date of this release and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to: the impact of COVID-19 or other adverse public health developments on our business; our ability to grow and manage growth profitably, maintain relationships with customers, compete within our industry and retain our key employees; changes in consumer preferences and buying patterns; the possibility that we may be adversely affected by other economic, business, and/or competitive factors; the risk that the market for our entertainment offerings may not develop on the timeframe or in the manner that we currently anticipate; general economic conditions and uncertainties affecting markets in which we operate and economic volatility that could adversely impact our business, including the COVID-19 pandemic and other factors described under the section titled “Risk Factors” in the registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “SEC”) by the Company, as well as other filings that the Company will make, or has made, with the SEC, such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

Contacts:

For Media:
Jillian Laufer
JLaufer@BowleroCorp.com

For Investors:
ICR, Inc.
Ryan Lawrence
Ryan.Lawrence@icrinc.com

Ashley DeSimone
Ashley.desimone@icrinc.com 

Source: Bowlero Corp